Our attempt at being MF!!

CathT

debtfreeoneday wrote: »

Just popping in to say hello and will subscribe to follow you!

Hi debtfree :hello:

It's really lovely to log in and see posts like this so thanks everyone who reads my ramblings!

CathT

Ok, here are the new financial plans worked out very quickly over my morning coffee.

I won't know exactly what our total borrowing is going to be due to planned extension work so I have decided 'for now' to ignore additional borrowing. I imagine we would borrow money by June 2016 (current mortgage in principle expires end of Feb 2016 :eek: However, from June/July we can stop paying for ds wraparound nursery fees which means I can finally cancel childcare vouchers after 7 long years of them being deducted from my pay! This means I will bring home £170 I have never had before and this is more than enough to cover additional borrowing repayments.

In addition, we definitely don't live to our means, I know I am often scrimping and shuffling just before payday but this is because once we get paid we repay as much as we can, it just gets spent if left in current account. On paper we actually have quite a lot of 'spare' money! :rotfl:

CathT

I have joined MFiT-T4 and need to remember to post this time!

If we plodded as we are our figures would be:

01/01/17 - £83,985
01/01/18 - £78,105
01/01/19 - £71,863

Plan is to restart OP's June 2016 of £300 a month to give us the following figures

01/01/17 - £84,303
01/01/18 - £77,125
01/01/19 - £69,730

We still have 0% cc from previous renovations so plan is to reduce that figure by £4000. This sounds like a big commitment but our nursery fees used to be around this amount! It's money we have never had!
My head has been spinning trying to work some figures out so I still need to look at detailed monthly figures but I am confident this all works!!

We reduced our WIOTW figure by over £12000 in 2015 to get sub £100k. In 2016 I definitely want to see us get under £90k. Again this doesn't include the additional borrowing as I am always going to view that as a separate but budgeted for commitment. It's the only way I can move forward with financial planning!!

newgirly

Fantastic plans Cath! Well done on achieving everything you have this year and best of luck for next year.

CathT

Thanks Newgirly.

This weekend (well, yesterday) was a bit spendy. Needed pyjamas for Christmas eve boxes and to get some cards. We also bought some items for the local foodbank and handed them in when we went to see Santa. Dd mentioned to Santa a top I had spent £21 on as being her main want off her list, am glad she will be pleased with it as I would normally spend £20 on a bundle of clothes! :rotfl:

DH has done overtime today and made a delicious lunch and pudding. Hoping for a relaxing evening that doesn't involve wrapping presents. I haven't been feeling myself lately so am trying to be more mindful and being super busy does not help. My mum suggested a weekend away in CP, I wouldn't say no to that

CathT

This morning has already involved a money shuffle! Still a couple of days until I get paid. However, we are planning to save £850 towards architects fees this month. How we are doing this on what I consider an average income is completely beyond me! I think once I get an idea in my head I completely focus on it.

Think I may be ringing 8T again at some point this week. I have list of complaints, am really disappointed in their service.

In terms of weekend spends, I also ordered some photos online which hopefully will be delivered before Christmas. I searched everywhere for a discount code as they send me emails from time to time. Do you think I could find one when I needed one!

£2.10 showing as payable in TCB but no money there when I have gone to request it. Hopefully if it is a system error it can nudge my £50 that has been confirmed for ages but doesn't appear to ever going to reach payable.

Last few days in work and hopefully can start to wind down and actually look forward to the big day. Managed to get a mr s delivery slot for the 23rd which takes the pressure off. I was really surprised to get a slot but I am not complaining!

Christmas lunch is going to be very low key as just the 4 of us and we want lots of family rather than cooking time. Homemade Soup to start, roast chicken with all the trimmings (none of us are keen on turkey) followed by trifle and mince pies. Nothing fancy but suits us

debtfreeoneday

We are doing exactly the same, just the four of us (and the cat).. lots and lots of playing and snuggling and enjoying each other.

Glad you got your shopping slot, that is good going!

The finances all sound good as well, childcare costs so much, I remember feeling rich when we stopped paying for it.

have a great day x

sarahevie1

Well done on making a decision re the house, its never easy.

I spent four long years, worrying about outgrowing my old house, when in reality I moved before we had outgrown it. What a waste of time that was:rotfl:

I now have days when I worry about outgrowing this house, extending isn't an option for me, as my house was already built in someone's garden, so doesn't have a lot of space around it. The obvious would be a loft conversion, as all I really need is an extra bedroom. However, my roof space is too small without a dormer, and I can't have a dormer as I'm in a conservation area, and it would take us above the building line.

So in reality I'd have to move, but there's nothing I like as much, without really extending the budget by around £150,000 (which I'll never afford) so I'm probably better getting on with it.

SueP19

CathT wrote: »

This morning has already involved a money shuffle! Still a couple of days until I get paid. However, we are planning to save £850 towards architects fees this month. How we are doing this on what I consider an average income is completely beyond me! I think once I get an idea in my head I completely focus on it.

I sure know what that feels like and am convinced it is pure total focus that makes the impossible possible

For first time we are just 2 on xmas day oh plus the dog. Quite looking forward to it. I have an expensive beef on bone joint from D*nald R*ssell :D:D followed by trifle too

lulabelle1

No more childcare - congrats! Its a nice feeling when that stops

DS1 has started secondary school now, so although we no longer have nursery to pay for (DS2 finished nursery 2 years ago) we have bus fares and lunch money to pay for. There's always something, so enjoy it while you can!

Another family where it's just the 4 of us for Christmas lunch, actually really looking forward to it - no stresses, pressure or being stuck in the kitchen, yay!!