MoneyQueen’s MFW Journey and Daily Diary

MoneyQueen

I generally pay for 3 months at one time because I forget doing it every month.
But if you are organised then you could pay in every month.

MQ

MoneyQueen

Hi all,

Haven't posted for a while as I am trying to do as much overtime as possible before the redundancies are announced next month so that incase any of us are made redundant, we have a bit of buffer before dipping into the savings.

This has been a good month. Grocery spend is just under £70 as I have done more batch cooking and cooking more scratch.:T:T

DH has bought me a Kenwood Chef from Costco so we can save time in the kitchen :cool:

I still have to catch up with other threads. Will do that next week as no OT is being offered then so will come home early

Will post my Feb update in the next post. If things go according to the plan, we would have no debt at the end of March :money:

MQ

MoneyQueen

Update for Feb 2010

Update for February

Monthly Salaries = £4380.01

Mortgage

Balance = £94220
Interest Rate 1.29%
Monthly Payment £873.81
OP done in February £9.58

Savings (These are all Net Rates)

Reg Saver 4% Expires Feb 2010 Adding 500 per month = £3875
Reg Saver 4% Expires Feb 2010 Adding 500 per month = £3625
Reg Saver 4.8% Expires Mar 2010 Adding 250 per month = £2325
Reg Saver 4.8% Expires Mar 2010 Adding 250 per month = £2325
Reg Saver ISA 7% Expires April 2010 adding 300 per month = £3300
Reg Saver ISA 7% Expires April 2010 adding 300 per month = £3300
Reg Saver 3.6% Expires Jan 2011 adding 500 per month = £1000
Reg Saver 3.6% Expires Jan 2011 adding 500 per month = £1000
Reg Saver 3.6% Expires Jan 2011 adding 250 per month = £250
Reg Saver 3.6% Expires Jan 2011 adding 250 per month = £250
Reg Saver 3.2% Expires Feb 2011 adding 250 per month = £250
Reg Saver 3.2 Expires Feb 2011 adding 250 per month = £250
Fixed Savings 4.07% Expires Jan 2010 = £6000
Fixed Savings 4.08% Expires Nov 2014 = £3200
Fixed Savings 4.08% Expires Nov 2014 = £3350
Cash ISA Fixed 5.00% Expires July 2014 = £7218
Cash ISA Fixed 5.00% Expires July 2014 = £10589
Cash ISA Fixed 3.75% Expires Dec 2012 = £3878.91
Cash ISA Fixed 6% Expires Nov 2011 = £3864.23
Instant Access Savings Account 2.18% = £35.55
Instant Access Savings Account 2.18% = £35.55
Vantage Accounts Instant Access 3.2% = £35,000
Reward Current Accounts = £121
Main Current Accounts + MB Float = £3757.97
Cash + Loose Change = £70
Euros - £206.66


Total Savings = £98,856.64

Debts other than mortgage

Balance to be paid to a Credit Card in Jan 2011 = -£46.98
Balance to be paid to a Credit Card in 19th Jun 2010 (currently 0%) = -£2,485.02
Balance to be paid to a Credit Card in May 2010 (currently 0%) = -£4,766.37
Full Balance to be paid to a Credit Card = -£16


Total Debts other than Mortgage = -£7314.37

Mortgage + Debts – Savings = £2677.73

SOA for February

Monthly Household Income (after tax) = £4380.01
Mobile -£21
Mortgage - £873.81
Transfer to Regular Savings Accounts - £2600
Council tax (Paid by 0% Credit Card) - £0
Telephone and Broadband - £84.58
Fuel (Paid by 0% Credit Card) - £81.35
Electricity/ Gas (Direct Debit) - £35
Food & Groceries + work Expenses - £69
Shopping + Misc (Paid by 0% Credit Card) - £230
Credit Card Payment (0% Balance Transfer for 9 months) - £48.14
Credit Card Payment (Purchases at 0% for 12 months) - £48.00
Credit Card Payment (Purchases at 0% for 12 months) - £0.00
Credit Card Payment (Full Payment) - £86


Elecricity – KWH/day (Will add later)
Gas – KWH/day (Will add later)
Grocery Spend £68.95/£40

Will update my signature now

MoneyQueen

Hellooooo

I am posting the update for March a bit early because this is the first month our savings are greater than the debt :j:j:j

Ofcourse there would be some expenses in the month but I don't think we would go negative again (as long as we both get to keep our jobs)

Update for March

Monthly Salaries = £4801.45

Mortgage

Balance = £93439.43
Interest Rate 1.29%
Monthly Payment £873.81
OP done in March £0

Savings (These are all Net Rates)

Reg Saver 4.8% Expires Mar 2010 Adding 250 per month = £2575
Reg Saver 4.8% Expires Mar 2010 Adding 250 per month = £2575
Reg Saver ISA 7% Expires April 2010 adding 300 per month = £3600
Reg Saver ISA 7% Expires April 2010 adding 300 per month = £3600
Reg Saver 3.6% Expires Jan 2011 adding 500 per month = £1500
Reg Saver 3.6% Expires Jan 2011 adding 500 per month = £1500
Reg Saver 3.6% Expires Jan 2011 adding 250 per month = £500
Reg Saver 3.6% Expires Jan 2011 adding 250 per month = £500
Reg Saver 3.2% Expires Feb 2011 adding 250 per month = £500
Reg Saver 3.2% Expires Feb 2011 adding 250 per month = £500
Index Linked Fixed Savings 4.7% Expires March 2013 = £3000
Fixed Savings 4.08% Expires Nov 2014 = £3200
Fixed Savings 4.08% Expires Nov 2014 = £3350
Cash ISA Fixed 5.00% Expires July 2014 = £7218
Cash ISA Fixed 5.00% Expires July 2014 = £10589
Cash ISA Fixed 3.75% Expires Dec 2012 = £3878.91
Cash ISA Fixed 6% Expires Nov 2011 = £3644
Instant Access Savings Account 2.18% = £35.61
Instant Access Savings Account 2.18% = £35.61
Instant Access Savings Account 2% = £10.00
Vantage Accounts Instant Access 3.2% = £35,000
Reward Current Accounts = £4
Main Current Accounts + MB Float = £15519.14
BoI Current Account = £100
Cash + Loose Change = £70
Euros - £207

Total Savings = £103211.30

Debts other than mortgage

Balance to be paid to a Credit Card in Jan 2011 = -£286.80
Balance to be paid to a Credit Card in 19th Jun 2010 (currently 0%) = -£ 2,492.45
Balance to be paid to a Credit Card in May 2010 (currently 0%) = -£ 4,766.37


Total Debts other than Mortgage = -£7545.62

Savings - (Mortgage + Debts) = £2226.25

SOA for March

Monthly Household Income (after tax) = £4801.45
Mobile -£20
Mortgage - £873.81
Transfer to Regular Savings Accounts - £3100
Council tax (Paid by 0% Credit Card) - £0
Telephone and Broadband - To be added later
Fuel (Paid by 0% Credit Card) - To be added later
Electricity/ Gas (Direct Debit) - To be added later
Food & Groceries + work Expenses - To be added later
Shopping + Misc (Paid by 0% Credit Card) - To be added later
Credit Card Payment (0% Balance Transfer for 9 months) - To be added later
Credit Card Payment (Purchases at 0% for 12 months) - To be added later
Credit Card Payment (Purchases at 0% for 12 months) - To be added later
Credit Card Payment (Full Payment) - To be added later

Elecricity – KWH/day (Will add later)
Gas – KWH/day (Will add later)
Grocery Spend To be added later


Will update my signature now

MoneyQueen

Till now March has been a good month. We both have been good and haven't spent a lot.

I have got some overtime paid with Feb salary so monthly income is more than normal. DH would get some at the end of this month.:j:j

I have found unofficially from my manager that I am not at the risk of redundancy but still fingers crossed till I know from HR

We don't know about DH yet.

Now that we have enough savings, I am tempted to pay off the mortgage fully but know it's not wise to do it as long as we are getting better returns on our savings

Have invested £2000 in NS&I Index Linked funds as per Martin's mail.

Take care everyone and good luck.

MQ

setmefree2

MoneyQueen wrote: »

I have found unofficially from my manager that I am not at the risk of redundancy but still fingers crossed till I know from HR

Yay :j:j:j:j:j and

MoneyQueen

Thanks SMF2,

I have received a cheque from Principality today for the regular saver that matured earlier this year. Interest gained is £90.46 so Will update the totals in the "Update for March" post.

MQ

MoneyQueen

Hi everybody,

DH was told last week that he is not being made redundant and I have found the same officially yesterday :j:j:j
It had been a very long three months and now finally the stress is over

Though in a way these 3 months have been good. We have reduced our monthly grocery bill further and we have been eating much healthier than before. We have discovered Aldi for their super six fruit and veg.

I have started appreciating my job a bit more than earlier.:)

And though not related to redundancy thing, but I am the proud owner of a Kenwood Chef now. And I am loving it. Got it from DH as a gift. I have also bought a multi mill attachment and a slicer/ shredder attachement with it. I can't believe how much time it's saving us:j

On the financial front, atm we are looking for an ISA for the next year.
Will check the A&L one if it's still available.

Have invested a further £1000 in NS&I index linked account.

Will update my previous post with the balances at the end of the month

Take care

MQ

Floxxie

:T Great news MQ on all fronts.

setmefree2

MoneyQueen wrote: »

Hi everybody,

DH was told last week that he is not being made redundant and I have found the same officially yesterday :j:j:j
It had been a very long three months and now finally the stress is over

:T:T:T:T