An Optimistic Pair's MFW Journey

Optimisticpair

Before I discovered MSE I used to think I was money-wise and could squeeze a lemon until the pips squeaked. Now I know to grate the zest and freeze it first.

I've just finished 3 years at Uni eating whatever was handy and quick when my stomach rumbled. I've forgotten how to cook real meals. I did feel an urge to spurge because I've existed on a pittance but the site has given me a better focus on what is important. Yep I have to thank the folks on other boards for inspiration and tips, particularly those who are battling away with courage and determination achieving so much on so little.

The biggest surprise is that before MSE I would have been terrified to take on such a large mortgage but now I am confident that we can not just pay it but overpay it. I also feel I am not mutely shackled to pay ever-increasing fuel bills because there are options to take control of spending on that.

How has MSE changed your life?

What has surprised you?

Have you gained more than tips on money-saving?

:beer:

gallygirl

Optimisticpair wrote: »

Before I discovered MSE I used to think I was money-wise and could squeeze a lemon until the pips squeaked. Now I know to grate the zest and freeze it first.

How has MSE changed your life?

What has surprised you?

Have you gained more than tips on money-saving?

:beer:

Love the lemon quote :rotfl::rotfl::rotfl::rotfl::rotfl:.

I think I speak for a lot of people on here when I say MSE has really changed my life in a big way. It's helped me turn unrealistic dreams into realistic goals, and shown me how to achieve them.

I'm surprised by how much knowledge there is out there, and how willing people are to share their lives, finances, hopes and dreams. I'm also surprised at how focused I've remained - I'm usually all for new, shiny things then lose interest, no sign of this happening here.

As for what has been gained - really I suppose it boils down to a sense of purpose, self confidence that I'm doing the right thing. Also, a great sense of camaraderie and fun :T.

Oh, welcome by the way .

kimosaaby

One of the best things is offering and receiving advice from people who have lived through the pain of doing it an expensive way.
You have a chance to make a huge difference in your life: Consider waiting 12 months and putting everything you would pay and overpay on a mortgage into a high interest account instead: In several months you will have:
- proved you can really live without that cash
- built up a handsome deposit
- taken time to judge the property market and find the gems.
- Have even more cash in the bank ( don't forget council tax, bills, car bills or transport costs )
[ I am making some assumptions here .. that you are back at home so current 'rent' is cheap and property in your target area is decreasing in price so waiting will not cost you - do your own local research ]
When you have that deposit start the buying process but consider NOT overpaying until you have built up a new 6-12 months income equivalent nest-egg of available cash.
The ideal is to have enough cash saved to fund moving out, have a great deposit and still have an emergency fund for when the water-tank bursts.
The other thing you can do is spend hours reading this board for useful advice and uplifting stories.

Good luck

Tony

Optimisticpair

ali007 wrote: »

Love the lemon quote :rotfl::rotfl::rotfl::rotfl::rotfl:.

I think I speak for a lot of people on here when I say MSE has really changed my life in a big way. It's helped me turn unrealistic dreams into realistic goals, and shown me how to achieve them.

I'm surprised by how much knowledge there is out there, and how willing people are to share their lives, finances, hopes and dreams. I'm also surprised at how focused I've remained - I'm usually all for new, shiny things then lose interest, no sign of this happening here.

As for what has been gained - really I suppose it boils down to a sense of purpose, self confidence that I'm doing the right thing. Also, a great sense of camaraderie and fun :T.

Oh, welcome by the way .

Thank you very much I'm definitely glad to be here. What a nice change to find somewhere where people help each other by sharing info and supporting each other.
I can relate to that fresh sense of purpose and confidence. This can be truly life altering stuff whether it is getting out of debt, keeping out of debt or taking one on and managing it rather than it calling the tune.

I quite like shiny myself but I like the challenge of achieving what I want more.

Tell you what, my OH2be made me laugh when I was explaining the 'drop a price band' challenge to him. It was a revelation to him that you can get shampoo for 13p and beef it up with freebie samples and it isn't noticeably worse. I saw from one of your posts you have done that, so to you for that tip. I'll use up what I have left first so that there's less to pack for when we move into our own place and then do that.

Cheers.

Optimisticpair

kimosaaby wrote: »

The ideal is to have enough cash saved to fund moving out, have a great deposit and still have an emergency fund for when the water-tank bursts.
The other thing you can do is spend hours reading this board for useful advice and uplifting stories.

Good luck

Tony

Cheers Tony,

I think that's all good advice you have shared. I totally agree it is so much better to learn from someone else's experience than make mistakes and learn the hard way. The sharing and caring on the site is amazing.

This house will be our first house together but we are both over 45 and have both had mortgages before so thankfully we do have a little bit behind us. The emergency fund isn't as great as I'd prefer but we are living a couple of hundred miles apart and it's no fun. Added to that I don't like to think of the cost of the diesel or train fares to spend time together. I don't like to think about the £3k a year rent for one rather small room going down the drain at my end either.

Thanks for your input.

moominyak

Hi Optimistics,

Just a quickie to say hello and welcome

You're absolutely right, it's good to have somewhere where people don't think we're nuts or a tightwad just because we pay attention to where our money goes and are mutually supportive of other like-minded folk
Congratulations on the house and hope your move goes well :beer:

ZoeGirl_3

Optimisticpair wrote: »

How has MSE changed your life?

What has surprised you?

Have you gained more than tips on money-saving?

:beer:

I love being MSE. I have been frugal for a while now, before MSE, and its great.

I think you respect things a lot more, I am SOOOO much more grateful now, I get a rubber scrape as a present and I love it. Before I would have been like, what??!! Hehe. I find satisfaction in doing things myself, and making things, for hardly any cost. It focuses me long term, especially financially and makes me see that a couple of DVDs and a take out adds up to heaps over time.

And even though I used to have no money i am now saving for a house and have enough for a two week holiday that I am saving for too!! Where did all that money come from lol

Also, with all this fuss about rising prices I know I dont have to worry, because I cope on a fifth of my income, and so I have a lot of room. :T

moanymoany

If only I had been as savvy as you - even 20 years ago. Still, better late than never and because of frugality we are going into retirement with confidence - and a bit of cash!

I think you would love 'The Tightwad Gazette' books. Well worth the investment, you will find so much inspiration in there. It is based in America, but every idea has a germ of money saving brilliance usable here.

http://www.amazon.co.uk/Complete-Tightwad-Gazette-Amy-Dacyczyn/dp/0375752250

I didn't know you could buy it new, mine are second hand, which is the preferred option. However, this is all three together. Sadly, it doesn't seem to be in the library system. This family saved about half their income by living frugally. Triff book!

Dh brought home 'The Millionnaire Next Door' - is too was a surprise. Most millionnaires in the USA live frugal lives, by keeping their money it accumulates and grows..... Posh cars/clothes/houses/lifestyles - all out, modest/second hand/bought in sales - all in.

You are on the right track. However, the advice to wait a year is good. You do need the nest egg - also house prices next year will be much lower than now, but the big deposit is the thing to have.

Optimisticpair

moominyak wrote: »

Hi Optimistics,

Just a quickie to say hello and welcome

You're absolutely right, it's good to have somewhere where people don't think we're nuts or a tightwad just because we pay attention to where our money goes and are mutually supportive of other like-minded folk
Congratulations on the house and hope your move goes well :beer:

Hello Moominyak,

I'm assuming no news is good news .

Hope the weatherdries up for you to get in some target practice. I think your equipment comes into the "investment" bracket like my cross stitch supplies.

Optimisticpair

moanymoany wrote: »

Most millionnaires in the USA live frugal lives, by keeping their money it accumulates and grows..... Posh cars/clothes/houses/lifestyles - all out, modest/second hand/bought in sales - all in.

You are on the right track. However, the advice to wait a year is good. You do need the nest egg - also house prices next year will be much lower than now, but the big deposit is the thing to have.

I reckon not spending unnecessarily is how to become closer to being a Millionaire.
The books sound like entertaining food for thought.

Earmarked figures after paying off CC and all expenses of selling and buying:

43% deposit from his flat sale
20,000 savings from my house sale

DIY House removals with borrowed horse trailer.

I totally agree that to wait a year for prices to drop applies in general but there are, we think, good reasons why this doesn't apply in our particular case.

It is a particular sort of house in a particular place for certain reasons and this sort doesn't often come onto the market there or in a comparable nearby place. I can't be specific now in case the other parties involved use this site but I will reveal all if/when our sale and our purchase have gone through.

Optimisticpair

ZoeGirl wrote: »

I love being MSE. I have been frugal for a while now, before MSE, and its great.

I think you respect things a lot more, I am SOOOO much more grateful now, I get a rubber scrape as a present and I love it. Before I would have been like, what??!! Hehe. I find satisfaction in doing things myself, and making things, for hardly any cost. It focuses me long term, especially financially and makes me see that a couple of DVDs and a take out adds up to heaps over time.

And even though I used to have no money i am now saving for a house and have enough for a two week holiday that I am saving for too!! Where did all that money come from lol

Also, with all this fuss about rising prices I know I dont have to worry, because I cope on a fifth of my income, and so I have a lot of room. :T

You sound like you have prioritised things to be happy within your means. I think there's a lot of wisdom there.
To not to be too caught up in the rat race is priceless .