Want to be a mfw but worried?

thriftylynny

Hi Ally , i know exactly where you're coming from on the pension front & find it all very worrying because of my age ,i want to retire at 60 (5 yrs time) so you can work out my age from that?!! Pension forecast as it stands at the moment will just about cover the bills , not food or cruises or the lovely life i had in mind for myself !! Like you i am a single f/t working mum of 2, still paying my mortgage with small op's, worrying about the fact i have zero emergency fund, & i feel as if i am running out of years & energy to sort it all ? Apart from finding a lovely rich man to look after me i just don't know the answer do you?!!

ally18

Hi thrifty, I completely agree with you apart from wanting the rich man. I've had enough of them and am quite happy on my own at the moment lol.

I do have my emergency fund so would recommend you save half of what you would over pay on your mortgage and pay it into a savings account. It will be a long slog but worth it in the end, just in case. I find now that I am just doing without things. I haven't bought any clothes etc in ages. I don't care that I don't follow fashion. As long as I am clean and tidy that is all that matters. I am currently putting aside money for decorating though and will try and get some painting done this year. My lounge hasn't been decorated since my dd1 was 2, she is now at uni so the carpet is a proper 80s style and colour! Oh dear lol.

My pension will pay for the bills less the mortgage but I won't be able to eat till the state pension kicks in at 67 so need to rethink that.

Well, another nice weekend spent at the allotment digging and yesterday, I broke down an old wardrobe ready to take up there too. I really need a shed though. Have planted onions and another fruit bush, blackcurrant I think, which someone gave me.

Today I have checked the mortages and am happy to see that i'm finally below the £4k mark on m2.

M1 - £52,300 ish
M2 - £3,900 ish

I'm hoping to make another op tomorrow when all the dds and bills have been paid.

ally18

I have scraped together all the bits and pieces left over after dds, bills, grocery savings have gone out and made another op to m2. A big tilly tidy for last 2 months.

m2 now at £3500ish :j

golfiematt

Pensions are changing as seen in the budget. If you wanted to draw all your pension instead of taking an annuity this is now possible although part of it may be taxed. As your only wanting money for a few years until your state pension this is worth some thought.I would recommend getting some professional advice also. I just thought I'd throw that out theredas an option.

ally18

Thanks golfiematt, I need to look into all the options so that info is helpful.

ally18

Well halfway through the month and the washing machine has given up the ghost so went and ordered another one yesterday which will be delivered, installed and the old one taken away.

But before that is done, I have to disconnect the old one and am having problems because I can't disconnect the water supply. I've rung my plumber who installed my new boiler last year but so far, no call back. :mad:

So annoyed as it was this plumber who 'repaired' a leak on the wm taps last year, during the boiler install, but did not replace the taps themselves so I can't do anything with them. It looks like its not a worthwhile job for him!

This has recently happened with a joiner I had come out to give me a quote to build a new cupboard. He measured up and then said he would provide a quote but never came back to me. And now he won't answer the phone!

What is it with tradesmen nowadays?

On the good side, I recently sold an item which will now pay for the new washing machine which is a help.

ally18

Now happy, plumber coming later today so that worry is out of my mind.

Have checked grocery budget and have overspent this month so far, I must keep it low for the last two weeks. Having a family get together on Easter Sunday though so will be baking Saturday. I think I have most of the ingredients so this shouldn't cost too much. I bought easter eggs ages ago and hid them so have them ready. Youngest dd is 14, they should have grown out of easter eggs you would think but no.

Eldest dd is nearly finished at uni for her first year so she needs to get a job pretty soon. Can't believe they finish so early in the year either.

Cut the grass and tidied the garden over the weekend, have my rhoddies flowering now so it is starting to look nice in the sunshine.

Sunday morning I buried the hamster whilst in tears. We still have the adopted one left but I've promised myself definitely no more pets ever when he has gone. I can't cope with the upset.:(

I've nearly sorted out my ISA's for the new year, should be getting decentish rates once they are all in the right place. I've decided I'm not going to use savings to pay off m2, that will just have to take as long as it does. I need to have the savings there just in case. I am going to decorate finally though this year. My house looks awful with scratched paper and dull walls which no amount of wiping down will sort. It needs new paper and paint.

Oh and the allotment has suddenly become a bit of a forest in bits that I hadn't got round to. It really does have good soil there. Onions have started to grow and the blueberry, blackcurrant and gooseberry bushes have taken. My strawberries need some tlc but I managed to move some raspberry canes which had appeared. They are also sprouting.

Now, need to start salad veg in pots at home. I could do with not working to fit everything in. :rotfl:

ally18

Right tap connections for the new washer are now ok and I can turn the water on and off by myself when it arrives. Cost £20.

I have also decided, after much thought, to have the gas fire in my dining room removed and the fireplace. Now I have a new boiler, this fire will not really be needed and I want my room to start becoming more modern so next week it goes. Cost £100 out of the decorating fund. I have a huge oak sideboard that will cover that area until I can get the papering done properly in summer.

ally18

Oookaay, it is now the end of another month.

Spent far too much. The fire and surround did come out, cost me £80 more than I planned as I didn't count on the plastering needing redoing . But I have a new look dining room for £50 in total. Stuff has been mended, cleaned, patched up, painted, moved around and utilised from elsewhere and I am now happy with it.

Living room to be re-jigged in July/August when I have more savings hopefully. Again, it will be using other stuff that I manage to dig out from under the stairs. I didn't realise I had so much left over paint in there .

Mortgages as follows:
M1 - £52k ish
M2 - £3,4ish

I have neglected the allotment over the last week. Will be going there this weekend to set beans and lay slabs for the shed I am being given. Must weed as well. I have cleared a climbing plant out my back garden to give more light to other plants and taken some cuttings to replant there too.

All in all, a good month. Grocery budget stuck to, petrol stuck to. May will be MOT month.

thriftylynny

Well done Ally you're doing very well, where does all you're energy come from ?!! My tiny house is falling apart ,leaky roof, leaky shower/toilet , filthy ancient sludge brown /gold carpets,wilderness flowerless garden etc., etc .Loadsa money needs spending on it? Fed up trying to save small amounts to do at least something only to find it gets eaten up by something else cropping up by month end ? Your dining room sounds great now!!