Living life, loving life.......hypno's having a ball!

Firewalker

hypno06 wrote: »

Of course, I don't want to commit that level of my budget to the mortgage immediately, because I need to have the comfort of some cash in the bank "just in case", but once I am happy with the savings pot size, I will definitely switch the payment to the mortgage instead (all things being equal, which invariably they won't be of course!!).

Wise! Remember the discussion on the Matrix thread when I said that the long term pot should be about £20,000? I still believe it. After it gets to this level, I would be overpaying (if I were you, this is; as it is we have several months left of negative wealth).

Firewalker

hypno06

I agree, FW - I would like to have 6 months "salary" in the bank to fall back on ideally. As I am "only" saving 10% of my salary at the moment, this will take some time to achieve as things stand, but it is certainly not unachievable, and if I allocate any future bonuses wisely, I have several options open to me over time.

Of course, all of these plans are not "flat out MSE" plans - I have no desire to cut back on my "me" stuff that has found its way into my life (and subsequently my budgets)........:D

Firewalker

Hypno, you may have guessed that MSE is not a mantra for me - I believe in having a life. We are here to live and money is just a means to this. 'Me' money is absolutely vital - I feel so much better (and get the negative wealth down more effectively by earning more) since we have the 'I am so worth it' fund.

The 10% will grow faster that you think - without deprivation.

Firewalker

lionheartedgirl

wonderful news on the pay increase hypno, and even better that things are so under control and you can do something so long term with it :T without compromising on the day to day, as you say.

re the skiing - my parents were the same with music, once I got to adulthood, it was down to me to fund. mind you I do wish I hadn't given up in my early 20s and sold my instrument (the money went back to mum and dad as it rightly should have done!) - it was a massive investment to make off my own back!

boredofbeingathome

The possibilities are very exciting Hypno I do agree with the mortgage overpayment as it seems a very good use of the excess plus as you say it won't eat into the budget.

hypno06

And running with the momentum.......I popped into the branch and set up the standing order to the mortgage to start on 1st October.

taxi73

sounds like a great plan and totally agree with you keeping to the you budgets

beanielou

Great news :j

beanielou

hypno06 wrote: »

Yes, she has had a few lessons - seems to be doing alright, but can't drive my car because it is an automatic and she is learning manual, so she doesn't get any extra practice, unfortunately.

Same here & DS still passed first time:D

Triciaxx

When I am across this, I remembered your tale of replacing your entire lingerie collection and thought it might raise a smile.:D