My story - determined

StuartGMC

D1
Excellent progress, you'll be MF before you know it!

Do take the opportunity to treat yourselves too, and with autumn kicking at the door, now's as good a time as any to get one of the units and have some fun when it's wet and dark out - certainly MSE on a £ to time ratio for return on investment!

determined1_2

jemw wrote: »

PM'd you btw

Right back at ya

determined1_2

StuartGMC wrote: »

certainly MSE on a £ to time ratio for return on investment!

Brilliant way to look at it. Will have to use that as a weighting arguement when discussing with the OH :rotfl:

determined1_2

StuartGMC wrote: »

Excellent progress, you'll be MF before you know it!

Certainly feels like some strong positive progression. The MF status will be a way off yet, but it is drawing ever closer to a comfortable level. I think hitting the £100k will be good as it will drop a digit and make it feel a more manageable amount. IYSWIM

uzubairu

determined1 wrote: »

what was your reason for prefering the 360 over the PS3?

I have positives and negatives to both but just cannot decide!

XBox 360 - Range of games available and Xbox Live (online gaming facility is more developed)
Wii - Fun and family friendly games.

OH is more of a gamer than me, but we both have our needs satisfied with both consoles.

I have a Girls Night In and I have my mates stay over (every 6-8 weeks) and we play Wii Sports and Guitar Hero (somer of us really bad), but have a great time doing it.

suisidevw

Congrats OP. What you're doing is awesome! My wife and I are relatively young too and aim to do something half similar!

I read your OP re about £35k joint income. We earn a few k more than that between us but there is ZERO chance of being able to pay off circa £1k a month. How are you managing it?!

GL!

determined1_2

Hi suisidevw

Thank-you very much!

How do I manage it? Well, I draw up a budget at the end of the month for next months expenses. Most of them will be the same each month, others will need some thought. Then,

My pay + OH pay - budgeted expenses = "spare money"

Last months variance (budget v actual) + spare money = this months overpayment

The last months variance may of course be negative, but I always have a "floating" amount in my current account incase we go over the budgeted expected expenditure.

I then adjust the overpayment so that last months balance + interest - normal payment - overpayment is a nice round figure. Yes, sad I know

There are a few other things and timing differences I factor in, but the above is the fundamentals.

Make a budget you are comfortable with, not too tight (unless you want to). Get the OH on board and agree with it. They then can't moan when the money has been spent I make the overpayment at the start of the month. Therefore, once the money has gone, it is gone until next month.

Simple philosophy I have always followed. Only spend what you have. When it's gone it's gone.

Always remember why you are doing what you are doing. Find things that get/keep you motivated.

Set a target. Try to attain it.

There will be low points, but you only ever started grabbing the MFW rope because this is what you wanted to do.

Plan for everything (within reason). Obviously, you cannot plan for things that you don't know will happen.

Have a dream and go for it.

Mine, qualify as a chartered accountant at the age of 23 and completely own my 3 bed house in the south east at the age of 27 to put me in good stead for the rest of my life.

Yes we don't earn "lots". But, watching those pounds and being sensible really really does work wonders.

Hope this post is bursting with motivation. It's certainly given me some.

Determined

determined1_2

Monthly utility stats as promised:

Units/kwh/average daily kwh

Aug - Gas: 2/63/2.03
Aug - Leccy: 147/147/4.74

July - Gas: 2/63/2.03
July - Leccy: 142/142/4.58

Rolling averages since 22.02.2009 at 01.09.2009

Gas: 2.34
Leccy: 4.59


Determined

Zeddy

Hi determined1

Just wanted to say congratulations, sounds like you're putting in a lot of effort and it's paying off.

Also good luck with your chartered exams, I qualified a few years ago and its so worth it.

PipPip

Zeddy wrote: »

Hi determined1

Just wanted to say congratulations, sounds like you're putting in a lot of effort and it's paying off.

Also good luck with your chartered exams, I qualified a few years ago and its so worth it.

Could not agree more. I qualified with ICAEW at 22, some 16 years ago now, and those exams have opened doors to so many great jobs ever since. Best investment I ever made!