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  • FIRST POST
    • a_silver_lining
    • By a_silver_lining 21st Nov 17, 3:52 PM
    • 132Posts
    • 466Thanks
    a_silver_lining
    Money Saving Mojo 2
    • #1
    • 21st Nov 17, 3:52 PM
    Money Saving Mojo 2 21st Nov 17 at 3:52 PM
    Since buying my flat in 2014 I have tried and failed to rebuild some savings and repay a family member's loan. I first had issues with my mental health in 2013, and since then have had a few episodes, which have greatly impacted on my finances. It's a stark difference from my early 20's of saving money and being career orientated.

    In 2015 I started well and paid 1k off the mortgage and 2.5k off the loan. I actually had over a grand emergency fund.

    In late 2015-2016 I then suffered with my mental health and experienced long term sick leave unpaid. I spent a lot of money trying to feel better and then focused my spending on doing up my home.

    2016 I changed jobs to try and help my mental health. My wage dropped and I kept spending money on holidays and home.

    Early 2017 I went from full-time to part-time with another gap with no money on sick pay. I changed career entirely and it seems to have been the best decision for me. This alongside help from services and more self care has helped me feel happier.

    Presently I am on a much tighter budget with this new job and need to relearn how to manage my money. I have been paying £25 a month towards my family debt for a while, and so have paid off 2750/10,000k so far. I have £650 emergency fund, which I would like to increase to 3k before increasing my repayments to family. I am currently putting £250 aside (or plan to!)

    Will sort out a SOA later in the week

    Other plans this week are to put some items on ebay cheap just to shift them. I also want to return some crackers I bought and make my own Christmas cards this weekend.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
Page 1
    • Chrystal
    • By Chrystal 21st Nov 17, 4:23 PM
    • 191 Posts
    • 1,341 Thanks
    Chrystal
    • #2
    • 21st Nov 17, 4:23 PM
    • #2
    • 21st Nov 17, 4:23 PM
    Hi and welcome.

    I'm sure you'll get lots of help and support on here.
    GC. Oct.17 = £261.18/ £300 = + £38.82 NSDs 20/31
    GC. Sept.17 = £354.89/£300 = - £54.39

    • a_silver_lining
    • By a_silver_lining 26th Nov 17, 8:59 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    • #3
    • 26th Nov 17, 8:59 PM
    • #3
    • 26th Nov 17, 8:59 PM
    Thanks Crystal

    Right, payday so recalculating my savings.

    £400 in a fixed saver (maturing March 2018)
    £500 in my £250pm regular saver.
    £740 left in my current account, which I guess counts as an 'emergency fund' for now.

    I managed to put some items and sell them. The rest have been offered to friends or given to charity. I still need to return the Christmas crackers. Christmas cards I have decided to email to my work contacts and so save money making them!

    Jobs this week are to sort out getting the best quote for building insurance. Post SOA. I want to double check my Christmas gift bag as I think I have now bought for everyone on my list. I have been buying them over the year and writing a note in my phone of the item and cost. It has helped me buy the right gifts when I see them, spread the cost and ensure I didn't over buy for one or two people.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 26th Nov 17, 9:01 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    • #4
    • 26th Nov 17, 9:01 PM
    • #4
    • 26th Nov 17, 9:01 PM
    SOA below.

    Debt is a family debt loaned towards me buying my property. No interest charged.

    Mortgage in my own name. Partner pays £300 rent and £110 towards bills (£220 total). Partner pays own phone and TV licence separately to this. I pay my own phone, pet insurance, boiler cover and building insurance (annually) separate to this as cat and property are my own.

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 1271.77 Pay will increase by £27 in March and I will ammend SOA then
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 410 £300 rent and £110 towards bills from partner.
    Total monthly income.................... 1681.77


    Monthly Expense Details

    Mortgage................................ 453.3 5 year fix ending 12.19
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 110
    Electricity............................. 22
    Gas..................................... 19
    Oil..................................... 0
    Water rates............................. 42.41 Increased due to direct debit date change. On a meter and I feel that this is high!
    Telephone (land line)................... 0
    Mobile phone............................ 17.99 Contract as my sim only phone died after 5 years I will go sim only after contract ends.
    TV Licence.............................. 0
    Satellite/Cable TV...................... 0
    Internet Services....................... 26
    Groceries etc. ......................... 0
    Clothing................................ 0
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 24.06 Senior cat lifetime policy
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 16.9 Boiler cover as keeps breaking down and as two women living along we kept being ripped off by plumbers!
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 300 £300pm in 5% monthly saver which will act as emergency fund. Maturing 01/19
    Savings................................. 250 £250pm in 5% monthly
    saver ending 08/18 this will then be paid off debt in lump sum.

    Total monthly expenses.................. 1281.66



    Assets

    Cash.................................... 2342.3
    House value (Gross)..................... 195000 Nextdoors sale price
    04/17

    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 197342.3



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 94489....(453.3)....0
    Total secured & HP debts...... 94489.....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Family Debt....................7200......100.......0
    Total unsecured debts..........7200......100.......-



    Monthly Budget Summary

    Total monthly income.................... 1,681.77
    Expenses (including HP & secured debts). 1,281.66
    Available for debt repayments........... 400.11
    Monthly UNsecured debt repayments....... 100
    Amount left after debt repayments....... 300.11


    Personal Balance Sheet Summary
    Total assets (things you own)........... 197,342.3
    Total HP & Secured debt................. -94,489
    Total Unsecured debt.................... -7,200
    Net Assets.............................. 95,653.3


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    Last edited by a_silver_lining; 22-02-2018 at 12:18 PM. Reason: updated SOA 08/02/18 to reflect new changes
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • fay66
    • By fay66 26th Nov 17, 11:00 PM
    • 705 Posts
    • 1,833 Thanks
    fay66
    • #5
    • 26th Nov 17, 11:00 PM
    • #5
    • 26th Nov 17, 11:00 PM
    I suffer with depression too, hence my erratic spending , its hard isnt it
    Inland revenue £4500=
    Loan £2610/2130
    Pay day loans -1200/1315
    Credit card 1 -5183/4850 int froze
    CC2 -978
    CC3 - 500/548 cc4 165/200
    • a_silver_lining
    • By a_silver_lining 4th Feb 18, 11:42 AM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    • #6
    • 4th Feb 18, 11:42 AM
    • #6
    • 4th Feb 18, 11:42 AM
    Long time not checking in on here. I have been active on the 1% challenge though and am working hard to make a little more money.

    My mental health has been okayish this winter. It's better then normal and I think that's due to working more outdoors. I have struggled to motivate myself to exercise and get into my garden so I am hoping that will improve with the weather. I need to put a plan in place for next winter I think. Another positive is a promotion. I received a small pay increase but with the proviso that I can negotiate it up should I survive the busy season.

    I need to redo my SOA, but am going to wait until next month as I have shifted all my direct debits dates to just after payday to help me 'see' my money and this has moved some payment amounts.

    Cat insurance is also much more this month now he is a senior cat. My partner and I are going to reassess how much she contributes to bills so it is halved better.

    I've had a small payrise of £27pm and am due another of the same in March.

    I have committed to putting aside all my paypal money to then go off the family debt in chunks. I got all excited and thought I could save 10k this year and then realised I have debt to repay, so I'm back to thinking I should have an emergency fund and all else go on the debt.

    Savings: Plan is that my new saver starting this week at £300pm will be my emergency fund. By the end of the year I should have £3300.

    Debt: Family debt now repaid £2800, so 7200/10k remaining.
    I have decided to up the repayments from £25pm to 100pm which will equal £1100 this year - Debt 6100/10k.
    My £250pm saver maturing in August will go straight off the debt at £3085ish - Debt 3015/10k.
    I can continue paying £250 off Sept-Dec - 2015/10k
    May plan is to make £2018 extra money this year so in theory that will repay the last of the debt!

    This plan leaves me £270pm to live on after bills, savings, debt. So for food, travel, fun, unexpected bills, course fees. It will go up to £297 in March.

    I don't know how realistic that is as I tend to spend between £350-500pm when not watching my money. However, I do have £100-200 in my current account as a buffer and £400 in wealthify, £100 in Orbis, £400 in a switching account. So this could be used if needed.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 4th Feb 18, 11:53 AM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    • #7
    • 4th Feb 18, 11:53 AM
    • #7
    • 4th Feb 18, 11:53 AM
    Money available to spend:

    I returned a Christmas gift I was given the gift receipt for. It was lovely, but for me a very expensive candle £25.99 on a boots gift card. I never shop there so I need to remember I have the card.

    I have £10 M+S voucher in my email from a pension provider. Again I need to remember I have it and use it.

    My partner and I have £45ish of tesco clubcard points. We looked for holiday and travel bits but I think we need to find another use for them as topping up for a hotel seemed very expensive!

    I have a £95! credit from a course I cancelled last year when I had my breakdown. I was very lucky they refunded me. I looked last year but couldn't find another course I wanted. I am going to look tonight and book anything, even if I give it as a gift to a friend as I don't know how long they will let me have credit for. It's already been a year. This is a great example of me being forgetful about money.

    A goal today is to check the rest of my gift cards and see if I have more hidden money.

    Money made:

    My Quidco £10 transferred into my account. This is from last years pet insurance switch, a good example of me forgetting I have money in places!

    I have one ebay parcel to post and listed 16 listings last night. I still have a lot more to put up.

    I am going to sort through items which haven't sold and charity shop the rest. I can be terrible at hoarding and part of my goal this winter was to Marie Kondo and clear loads of room for me and my mental health to have room to stretch in.
    Last edited by a_silver_lining; 04-02-2018 at 3:09 PM.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 4th Feb 18, 3:26 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    • #8
    • 4th Feb 18, 3:26 PM
    • #8
    • 4th Feb 18, 3:26 PM
    I suffer with depression too, hence my erratic spending , its hard isnt it
    Originally posted by fay66
    Thank you Fay66 for your reply. It is really hard. I've been so lucky to have had a good 6 months or so, especially over the winter.

    It has caused massive loss of income over the years. I kick myself sometimes for turning down promotions (I was offered two in my last job, and one in my earlier 20s) not going into the profession I trained for (instead I chose to work unqualified roles), all due to lack of confidence in myself and also the fear that my psychosis would impact on my work, and then my depression and anxiety causing me to have time off work unpaid, going part time etc... and the resulting impact on my finances.

    But then I look at that list and realise that if someone else told me that had been the impact of their mental health on their finances (never mind the rest of their life!) I would realise they are unwell... so I need to appreciate that I am unwell and take care of myself. It is something I only accepted at 30.

    I started a 5 year gratitude journal a few weeks ago and am trying to help myself realise the fantastic things I do despite my mental health. I'm hoping that it's one more way to support myself not to relapse.

    I bought my flat after my first breakdown, despite my first breakdown. I changed job last year straight after my last breakdown and am earning, receiving and accepting promotions. I am passing exams and attending college and should have a related qualification by the end of this year. By the end of this year I want to also be able to add that I had the confidence to negotiate a proper pay rise and repaid my family debt that would be fantastic
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 6th Feb 18, 7:53 AM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    • #9
    • 6th Feb 18, 7:53 AM
    • #9
    • 6th Feb 18, 7:53 AM
    Did really well the last two days. Both days I did an hour in the garden tidying. I cleared two bags for charity which my partner will take today.

    Ebay selling going well, I have now sold 20 items and at over £130 made. Posting these today.

    I have exams today, which is why I've been off for a few days in a row. I'm bringing a packed lunch and tea to be moneysaving, especially as I need to pay for a train after which I can only imagine will dent the budget.

    I'm planning on heading back to town rather than home to encourage me to attend my evening course. Hopefully this will give me time to post my parcels and not to spend. It's the first time in weeks I will have been in a place with shops...
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 6th Feb 18, 4:24 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    Exams sat. I think, I hope, I passed.

    Parcels posted. They came to slightly more than expected so tonight I need to review my listings and add a bit more on for postage maybe.

    Apart from posting bits I had a bit to eat and then bought a £14.99 flower pot. So stunning but I went and sat in a cafe for free (cheeky charge of the mobile) and after ten minutes decided to return it. So refund and took the money off my app off my phone. I feel really proud of myself. Normally want to spend loads in town!

    Also bought myself a single bus ticket to force myself to walk part of the way back. I'm getting a lift but they are going to be late so I figure I'm better walking for an hour then busing and then standing for an hour. Money saving and good exercise for my mental health as I haven't been able to Garden today.
    Last edited by a_silver_lining; 08-02-2018 at 1:22 PM.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 7th Feb 18, 8:14 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    Have carried on doing well. I realised today that I had not bought coffee (my weakness) or lunch at work this year so far

    That said £41.50 of my £96.72 spending this month has been eating out!, so takeaways, coffee (out of work days) meals out. So this needs addressing.

    I called and arranged for a £1.50ish cheque I received over a year ago from an energy company to be resent to me. It's money left on my account when I switched. So annoyed they don't just bank transfer you it, think how much unclaimed profit they must have from people like me not bothering to cash a cheque!

    Came home to some more ebay sales and so now have 8% of my goal of made money sitting in my paypal account. So chuffed. This will be going off my debt at the end of the year

    Made a fruit cake, my first time baking one and it's smelling delish. I've decided to use up store cupboard ingredients and the currents and alcohol was left over from my partners Christmas pudding baking.

    Goal tonight is to package up my parcels to post on my day off tomorrow and to list some more ebay bits. I have 35+ jewellery items to sell and they seem to be going well so fingers crossed!
    Last edited by a_silver_lining; 08-02-2018 at 1:21 PM.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 8th Feb 18, 1:20 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    Spent an hour today and edited SOA to show new income and accurate bills. I called around and found out exact amounts. Surprised my mortgage is under 95k!

    Have eaten a lot of cake today but not gone to the post office yet. I am going to make a cuppa and package up the bits and head out.

    I have lowered some prices on ebay for my old auctions but still haven't posted more.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
    • a_silver_lining
    • By a_silver_lining 22nd Feb 18, 12:14 PM
    • 132 Posts
    • 466 Thanks
    a_silver_lining
    I've been a bit up and down financially since I last checked in.

    I've hit 17% of my 2018 target. £10 from Quidco, £125 from a bank switch (second bank account I set up purely for switching and 5% saver) and the rest from ebay sales, LOADS of small ebay sales. They really do add up.

    On the down side I'm £14.55 over my £270 monthly budget this month and 5 days to payday with a food shop needed.

    Looking at my spending the biggest spends were £65.39 on eating out!! So takeaways, dinner out, coffee, emergency food.
    £50 on the house as my contribution to the neighbour putting up a shared gate for our alley.
    £48 for night out. A rare one for me as I'm not a going out person.
    £33.70 for 'making money'. This is postage. Technically this has been covered by money in my paypal account (I've left all 'made' money there and trying to not transfer it over to my main account so to build up extra savings) so I'm technically £20 under my monthly budget.

    Next month I have my birthday and I'm debating asking for money towards buying a specimen plant. We have a big staff discount and I'd love a tree fern or a large olive tree to add height to my garden.

    I am also booking a trip back to Ireland with my partner. It will be our one holiday this year. Flights are cheap and we are trying to borrow a family car to save £180 on renting a car. The main expense is that we are staying in a holiday cottage this time. Usually we stay with family but we want to test out living in an area we could consider moving to, as my partner is Irish.

    - Actually booked whilst typing this, it's £230 for me. My plan is to use the £425 sitting in my spare account to pay towards the £300 regular saver and so not transfer over this £300 into savings. Instead I will send the £230 to my partner to pay my half, and £70 into savings. I'll try and spend less this month to see if I can recoup some money... perhaps I need a pot of money for spends like this.... perhaps my 1% challenge should be additional monthly spending money for holidays and fun and my £550 saved out my wage be the untouched savings... hmm...

    To do list
    - This month I switched all my direct debit dates to line up with payday, so I need to check in on payday to see how much 'excess' money I have in my account as a buffer for if I overspend. I'm being quite tight with my budget so this money will be needed I think.

    - I have been doing well with ebay. Goal today is to post some parcels, leave some feedback, consider accepting some offers on items / reduce items. Annnd I really need to photo my next batch of items, clothes and start listing them this week.

    - Food shop, healthy and in budget. I'm working towards defrosting the freezer so need to meal plan with that.

    - Check out MSE birthday freebies as mine is a few weeks away and a great way to treat myself on this budget!!
    Last edited by a_silver_lining; 22-02-2018 at 12:25 PM.
    19/12/14: Spent 10 years of savings!!
    ..... to buy my first home.

    2018: 2569/10k saved! --- Family Loan repaid 2800/10K repaid.

    #38 1% Challenge: £366.81/ £2018, now at 18%!
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