Introduction, MF wannabe

lincoln-potter

Okay so a recap on things, heres my SOA from when I joined MSE and what my SOA is now.

Original figure in brackets
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2 (2)
Number of children in household......... 4 (2)
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 2090.40(2256.36)
Partners monthly income after tax....... 1,589.11(532.07)
Benefits................................ 247.20(171.20)
Other income............................ 220.40 (0)
Total monthly income.................... 4147.11
Monthly Expense Details
Mortgage................................ 1157.98 (796.52)
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 216 (210.00)
Electricity............................. 57 (31.50)
Gas..................................... 0
Oil..................................... 86 (200)
Water rates............................. 43 (30)
Telephone (land line)................... 44 (15)
Mobile phone............................ 0 (20)
TV Licence.............................. 12.12 (12.37)
Satellite/Cable TV...................... 0
Internet Services....................... inc with phone
Groceries etc. ......................... 490 (300)
Clothing................................ 150 (50)
Petrol/diesel........................... 140 (100)
Car related.............................169
Other travel............................ 0
Childcare/nursery....................... 25
Other child related expenses............ 20
Medical (prescriptions, dentist etc).... 90
Pet insurance/vet bills................. 0
Buildings insurance..................... 13.50 (55.40)
Contents insurance...................... combined
Life assurance ......................... 14.28 (34.68)
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 20
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2897.88 (2200.47)

Monthly Budget Summary
Total monthly income.................... 4147.11
Expenses (including HP & secured debts). 2897.88
Difference........... 1249,23

lincoln-potter

List of upcoming money saving projects:
- Swap all remaining bulbs to LED
- Lamp energy saving bulbs swap to phillips hue (to save via timer function)
- Install a log burner in the lounge & wood burning stove fan
- Samsung smart things for remote plugs to reduce standby costs
- Some extra rainwater tanks rather than using hose pipe

lincoln-potter

Upcoming annual overpayment targets
2016 - £10,000 (Paid february)
2017 - £8,000
2018 - £6,300
2019 - £4,400 (End of mortgage term)
2020 - £27,000 mortgage free

lincoln-potter

Ordered the LED G9 & G5 bulbs last night, should hopefully get all the bulbs this week to install.

Still miffed that first utility don't have an in home display with their smart meter, contract with them is up to December.

I have installed some timers in the lounge and kids room to turn the TV's box sets etc all off during the night. I'll see if it works well and if it does I'll be sure to swap them when I finally buy the Samgsun Smartthings hub.

lincoln-potter

I've decided that the 0.5% cashback we currently get on purchases isn't enough, so I am going to draw up another spreadsheet (I do love a good spreadsheet) and start stoozing.

misscousinitt

Really getting into spreadsheets - need to be with all the figures I'm analysing and juggling...

We need to get our electric and gas changed to normal meters - on pay as you go at the moment and it's a pain (as well as being more expensive) - however, it has given us an insight on how much is costs to heat and light our new house in it's current state - serious improvements need to be made!

Good luck with it all - seems like you have a good plan you are sticking to.

MCI

lincoln-potter

Yes I remember the pain of having pay as you go meters are university. I've been looking at an efergy Ego monitor to give you a clear indication of certain items costs. (I do love my gadgets so its probably just an excuse by me to buy another).

Its all a balance at the moment, have so many expenditures coming up but with the fixed rate getting smaller so long as by the end of the term I have enough saved up to pay it off then I am to plan.

The OH and I often talk about the main differences when we are MF and my first thought is always having branded bread again. I like most things from Aldi but the bread is just nasty.... Bring on the days I can have Hovis again

lincoln-potter

Decided to have LPG fitted for the garage heating, and I think since the roof is pure south facing without interruption I might get a 4kw solar panel system put in, they say its a 9year payback, I think it'll be a little longer but if we are smart we can run a lot of our routine on timers to come on during the day (washing machine etc).

lincoln-potter

LEDs installed in some of the rooms..... turns out some were GU5.3 so I have had to buy converters.... then it turns our the better half wants a different colour white..... so had to re-order yet more.

Having a site visit about the solar panels, also I have put our efergy energy monitor back into the kitchen with some new batteries.

We stocked our chest freezer up with 9p bread last week. Must have bought a good 30 loaves from Mr S. I swear it smells a bit of nail polish for some reason though....

choccielover

Which bulbs did you go for? I'm looking to swap out too but don't know what make to buy!