Pay off mortgage and start having fun!

Kittenkirst

You can do it Newgirly! Sounds like you have made some fantastic progress so far too

newgirly

Cheers kittenkirst

Just mulling over how useless ive been at being frugal lately, I've got I think a habit of spending more than I used to and although we have made good ops this year , we have been given £60k so our actual ops are not going to be on the original target of £30k , probably £5k short I guess of what I'd hoped for at the start of the year.

Working backwards to see what I would have to cut back on to reach the July 2018 target, well it's a big cut back! Clearing the cc has not helped as the start balance is now higher.

It would take me cutting dds oyster allowance to £130 from £150 pm - that I think will be plenty , I've been watching her journeys and spending.

Cutting the Xmas and birthday budget by £180 to £0 pm (don't judge me )its a lot but we don't spend money on anything for the kids except then, plus have family and friends. This would take a lot of being creative and extra money making ideas the first year, the second year I will be mf before Xmas so can afford to splash out

Cutting £50 off the £650 a month everything except direct debits that's left that we pay for- food petrol, college stuff etc.

That still leaves £100 pm to find , or a further cut to £500 for all living costs form £650.

It seems a few steps to far to be honest, but I am keen to make a bit more effort at the moment so may try a few extra challenges to help towards the target.

Going from an oct end date to July means finding over £8k extra in less than two years, not sure that's possible.

How much of a sacrifice is worth it for the sake of a few months?

Kittenkirst

Only you can really decide that, can you meet in the middle and reduce some things but not so drastically, that way you're still clearing it earlier but are enjoying living whilst doing it?

newgirly

Yes really I could, i think the best thing to do is play it by ear and try to get as close as possible to frugal for as much of the time as possible.

I do think that as we have more leeway due to being given money this year that it's been easy to slip into overspending


We Need to make some proper plans for finances next year and also I need to get my backside into gear saving what can be saved outgoings wise, plus working out ways to make extra again.

Initial ideas tonight :

Check tcb

Sign up for 12 issues of the radio times for £1 and get £5.05 tcb

Meal plan two days ahead ( I lose interest doing a week )

Drink less wine than I have been

Do more cooking than I have been

Stop buying stuff I don't need to cheer myself up as I'm fed up I've not met weight loss target this year and won't now.

Time for a fresh start

newgirly

I've signed up for the radio times offer, £4.05 profit and 12 issues (only wanted the Xmas one really ) need to cancel the direct debit, ill do it when I get the first issue through.

I've also signed up for a Tesco delivery plan for the year, we do have a Tesco on the way home from work, but I tend to do far more spur of the moment shopping that way. I swapped club card vouchers for £25 so it's cost £35 cash for 13 months (one month free) so £2.69 pm for unlimited orders over £40 on any day anytime. I will try and do two smaller shops a week , one being at the weekend which will be less stressful and hopefully I will be more organised with what I buy and buy less wine oh I'm taking back a blouse I bought myself last week to pay for it, so really it's a no spend.

£5.89 requested from tcb to go in the mortgage pot.

CathT

Only you can decide your timeframe etc, you still need to live life a little and enjoy the journey a little. Youre just setting up habits for life after mortgage freedom too. Some small sacrifices may be manageable over a short period but cutting too much might make you miserable.

That's a good offer re: radio times. Think I'll look into it, thanks.

newgirly

Hi cath, I am unable to stick to most plans, so will probably do what I usually do - try hard for a while and then spend money I hadn't planned on :rotfl:

Seriously though, I feel I've loosened the reins way too much lately, the other day I was looking at handbags in house of Fraser :eek: very bad, I don't need a bag and if I do I'll get a cheap one (or one of my mums hand me downs as she has an expensive bag habit !) just a small example of things I want to buy , even if I have not actually done it. I kind of want to reset my thinking back to where it was.

After six and a half years on here now it's to be expected from time to time, sometimes you just want to spend which is what I've been doing a lot more of lately, but then usually returning it later

Watched a brilliant film tonight at the cinema with ds2 - nocturnal animals 9/10.

newgirly

A no spend week so far, I've even not spent on petrol as my dad ( almost as bad as Alex for owning too many cars!) has asked me to take his BMW X3 out for a few days exercise as its plonked in a bay near their house, due to now having four cars and two spaces on the drive. Lovely to drive and free petrol so yes please!

Tomorrow I am attempting to book tickets to see blossoms at the roundhouse in Camden, the boys both love them but so do I, I know they would prefer to go minus their mother so I may just book two. Probably I won't manage to book any as its such a small venue though. If I do manage it they will be Xmas presents from the budget.

newgirly

No work today, so, to do list:

Try and get concert tickets

Do all washing , strip beds

Buy car insurance

Return the new clothes order at post office (free luckily)

Try and locate current account card for acct I never use, I need it to transfer bank acct to m and s one to get the vouchers

Start going through Xmas presents and check off list

Clean whole house - including kids rooms that I don't normally do often now - I want my plates and mugs back :rotfl:

Sit down with a hot chocolate and watch tv hopefully

newgirly

Washing nearly finished, bank account switched finally although I still need dh to sort out his one. Car insurance bought £245 as I have gone 3rd party :eek: not done that since I was 18, I'd better not need to claim now!

I've just found a sparks card in the bottom of my bag and registered it, it's offered me a choice of rewards so I went for a bogof on hot drinks in m and s for 20 days, I go once a week with best friend so that will be handy

not much else to report, I'm off to rummage rough Xmas presents , oh and I did get tickets for the gig the boys wanted to go to :T

Plus home insurance bought too - £121.88