Disheartened

Gillybean

I know what you mean.

I'm not doing this alone, but it does get me down sometimes, specially when everyone around you seems to be going out, having a good time, buying the latest whatever.

But I find getting on here and refocussingmy mind on the long term goal helps.

I'm sure Martin says on his front page something about the ethos of the site not being about depriving yourself and living off baked beans but about being savvy and getting the best for your money. So if you feel you deserve a treat, why not go for it? Do you have a tesco Clubcard? is there anything that you could use your points for to treat yourself? Just an idea, I'm sure there are tons of other ways to give yourself a boost without breaking the bank.

Lexxi

It's so good hearing that I'm not on my own, I didn't really doubt I was but it is nice to have a bit of empathy!
No one else really understands it and I get this look like I'm a bit odd when I say I'm saving very hard, my parents are supportive but at the same time don't get it.
And whilst sometimes I feel I'm missing out I'm doing this so I can be mortgage free and spend all the money that would otherwise be still being thrown at the mortgage. Although I did have a horrible thought before, we're all going to be saving hard to pay off or mortgages/loans/cards etc what are we going to do when we've paid it off, what would happen if we can't get out of the habit, I'm never going to waste money again :eek: :rotfl:

Had a very quiet, lazy night in tonight and kind of re-focused, this is for a good cause and I'm choosing to do it, not being forced. I think I'm going to look at cheap treats that I can do, something a bit different so that I don't feel like I'm missing out on anything or being too hard on myself! I've got a boots card so will head there, thanks for the idea Gillybean

StuartGMC

EssexHebridean wrote: »

We've taken the view that yes, we want to save, we want to get the loan paid off, we want to pay the mortgage off early, however, we're not going to make ourselves miserable doing so.

Why not try setting yourself goals and rewards - perhaps put a few pounds aside each week into a piggy bank and when you've got £50 in there use it against a night out, or some new clothes, or whatever ticks your particular boxes? Having fun and enjoying life is just as important as clearing your mortgage, if not more so.

I fully concur that you do need to see benefit over the duration of clearing the mortgage, and do have some things which are "what you work for".

In addition are you monitoring things in a spreadsheet so you can see all the small benefits add up?

A few examples:
a) Show your overpayments as a % of the minimum payment and total for each year.
b) Take each overpayment and calculate the interest it would have cost over the remaining mortgage period so you see more "benefit" and add them up.
c) When making changes to your shopping to make a saving, (and I have only just added this to my budgeting spreadsheet myself) show the original, the replacement and money saved, but, only then add up the annual saving in cases where the replacement is of acceptable quality.
d) Do you record changes like change in your end date, end balance at each year etc.

The idea is to see things which change readily and thus reinforce the sense of achievement and thus avoiding the "I can't see any change in my mortgage situation despite all my hard work", in my case as we have an offset three key drivers are:
1) "Effective mortgage interest rate" accounting for the loss of interest on the savings as they offset (2.57%)
2) The amount of mortgage which is actually incurring interest (only 33.57% today :j but holiday payment about to go out so this will increase)
3) Our total cash position (incentive to get this to £0.00 then positive)

In addition, my budgeting sheet has my pub allowance per month amongst the budgeting amounts. With this shown it gives you "permission" to spend it because you have accounted for it in your overall planning.

I hope this helps give you some ideas of things to monitor yourself which can give you a real "buzz" and feeling of achievement?
(The longest journey is still a series of individual steps)

Happy to send the spreadsheet if you want a look, just PM me.

Good luck and stay positive!

Lexxi

Sorry, I've not managed to get online much this week, I kind of gave myself the week off, only spent around an extra £30 so didn't go too overboard, I've also got a job working 1-2 nights at a club nearby, works out at an extra £80 plus tips, I have to get a taxi home but it's only £5 so won't eat into the budget too much plus as it's a club it feels like a night out but I'm making the money rather than save it and I'm not hungover the next day! I've also found out that I'll be taken on properly at my day job, I'm only temping at the mo and I've just transfered £500 to my savings which means I've hit my saving target for some work I need doing so I have more spare cash to throw at mortgage!!
Thank you all for the support, I think it's so easy to lose sight when you can see people with all the latest whatevers and far away holidays.

Stuart your spreadsheet sounds like a really good idea, I do monitor incomings and outgoings but I think it would help to have more detail such as yours, that way I'm not just focusing on the end goal all the time.

Hope everyone has had a nice, cheap weekend, I'm off to get ready as I've got overtime already!

The_Casual_Tailor

I also get downheartened at times on my 5 year quest.

However, everytime I do I just refocus on how life changing it will be for my family and that's usually enough.

TallGirl

Hi Lexxi
Sorry you are feeling a bit down but what wonderfull posts you have got on here. Just a quick hello from me as you know we still do the Mortage Free in 3 and as you were the last person to get in I hope you are still going to hand around with the rest of us. I find it such an inspiration reading that blog it is not a race but every little bit we can do is great.

By the way the next update is due on the 12th July so hope to get a PM from you.

StuartGMC

Lexxi wrote: »

, I've also got a job working 1-2 nights at a club nearby, works out at an extra £80 plus tips, I have to get a taxi home but it's only £5 so won't eat into the budget too much plus as it's a club it feels like a night out but I'm making the money rather than save it and I'm not hungover the next day! I've also found out that I'll be taken on properly at my day job, I'm only temping at the mo and I've just transfered £500 to my savings which means I've hit my saving target for some work I need doing so I have more spare cash to throw at mortgage!!

Lexxi
Great to hear of these positive aspects, well done and they are contributing to your goals which is even better. I've sent a PM about the spreadsheet.
Cheers
Stuart

Lexxi

The_Casual_Tailor wrote: »

I also get downheartened at times on my 5 year quest.

However, everytime I do I just refocus on how life changing it will be for my family and that's usually enough.

That's what I usually do, I'm going to temp when I've paid my mortgage off and save the money so I can just quit whenever and spend weeks at a time at my retreat in Bulgaria!

Thanks for the advice guys, it has been a great pick me up

moggylover

Lexxi wrote: »

Sorry, I've not managed to get online much this week, I kind of gave myself the week off, only spent around an extra £30 so didn't go too overboard, I've also got a job working 1-2 nights at a club nearby, works out at an extra £80 plus tips, I have to get a taxi home but it's only £5 so won't eat into the budget too much plus as it's a club it feels like a night out but I'm making the money rather than save it and I'm not hungover the next day! I've also found out that I'll be taken on properly at my day job, I'm only temping at the mo and I've just transfered £500 to my savings which means I've hit my saving target for some work I need doing so I have more spare cash to throw at mortgage!!
Thank you all for the support, I think it's so easy to lose sight when you can see people with all the latest whatevers and far away holidays.

Stuart your spreadsheet sounds like a really good idea, I do monitor incomings and outgoings but I think it would help to have more detail such as yours, that way I'm not just focusing on the end goal all the time.

Hope everyone has had a nice, cheap weekend, I'm off to get ready as I've got overtime already!

Lexxie, can you look at it differently? Can you actually see that what you are doing is very worthwhile - and that there are a whole lot of people out there that are just buying "things" for the sake of buying "things"? I have lived very frugally for long time, and I do sometimes get tired of it - but usually only when I am doing the grocery shopping, lol!

However, I have just cashed in my endowment policy and paid off my mortgage at the age of 50, and I own everything I have - no HP or anything, and the only debt I now have is the loan I got to renovate the house I inherited from my Mum a couple of Christmases back - and hopefully I will be able to sell that soon (market Gods willing) and get to owing no-one anything!

I went through a bad spell after mum died, and for the first time in years I spent and spent and got into a bit of a muddle - and then faced the fact that most of what I had bought had only made my happy for the briefest of moments - and that I needed to tackle my own unhappiness not just throw retail therapy at it.

I have been really surprised lately at how many of the people I know have remortgaged several times over the years on their homes just to have holidays and cars and so forth, so that they have very little equity in their houses despite having been in them for a long time. I really do have a good feeling at the thought that I now own every block of stone in this place, and every window, door and tile is MINE! It is also nice to have very little in the way of debt hanging over me going into a time of uncertainty in the economy, whilst many I know are worrying over the payments they have to make.

Go for it Girl - but from time to time you do have to spoil yourself a bit - a pamper day at a salon or a meal out. Just keep your eye on the goal - and don't let others foolish overspending make you wishful - maybe they are not spending cos they are happy - but just comfort spending!