2012 mfw

LavenderBees

PennyGrabber wrote: »

.... how I can achieve it while still being able to afford to live.

PG x

Well, that's the million dollar question alright, and if you find the answer, could you share it, please? :rotfl:

I can either do one or the other, but not both...though I have to say that inadvertently giving myself an unreachable target has meant that I've saved more than I would ever have thought possible, and I've still managed to maintain a wee life...

Cutting down on non essentials (if you still have some) has been key for me, as is doing things like car sharing when I can, cuting out unessential car journeys, keeping to a strict budget for birthdays/Xmas (by seeking out sale items so good quality pressies at cheaper price), increasing spending power by doing a few surveys and Shop&Scan, to name just a few. You're probably already doing these sorts of things?

If you haven't already investigated the "All the Small Things thread" on the MFW forum, I can well recommend it to kick start some lateral thinking of helping to make money last longer, as well as the Old Style forum for all things saving money.

For me, it really has been a shift in attitude towards spending that has made such a difference (even though I won't hit my target...sorry, everyone)

Good luck!

LB xx

toerag33

Hi

I'm number 150! Apologies for my late response. You did send my a message but I can't seem to locate it . Finally I have figures to input. Mortgage - interest only -2.94%, £98,000 borrowed and aim was payments of £6000 for the year - £500 monthly.
Feb - £2550; March - £700; April - £775; May - £575; June - £75; July - £244; August - £685; September - £555.

Do you need any other information?

Many thanks - this really helps focus things.

Kind regards

Toerag33

Spiggle

Afternoon all,

PennyGrabber please don't worry about when in the month you make your OP. We all get paid and make payments/OPs at different points throughout the month. Granted there is usually a flurry at beginning and end of month but there is a steady flow throughout. I know how well you have done in other challenges and am sure you'll do equally well in this one too. And it's not just about big OPs either. Every penny OPd is a penny saved from paying the banks and gets us into good habits rather than having to get shot of the mortgage in double quick time! (I will update any OP even if it's only a quid!)

Good advice with humour as usual LavenderBees! You have nothing to apologise for having beaten your first target in only a few months and then setting a huge new target for the rest of the year which you're not that far off reaching. And you have put a smile on my face or had me laughing out loud many a time so no more apologies please.

Welcome back toerag33, that is the quickest achievement of target I have known!!! Set the target and then give the OPs to break through it immediately. Marvellous!

Ok, may see you later, take care,
Spigs

toerag33

Hi Spiggle

Thank-you. I was a bit frightened of putting it down on 'paper' as saying it out loud even made me feel under pressure! Are we allowed to have more than 1 overpayment 'account'?

A note to say all the work/time everyone gives to this site is much appreciated.

Kind regards

toerag33

Spiggle

You're most welcome toerag33.

Not sure what you mean by more than one OP "'account'" sorry. Just guessing here but if you want to have a larger target (because you've brilliantly beaten your original) for the remainder of the year, just let me know. Your original target will remain in column c and any updated current target will be in column d. Sorry if I've misunderstood what you mean.

All the best,
Spigs

toerag33

Hi Spiggle

We have more than 1 mortgage hence me asking if we can have 2 'accounts/numbers'! The problem has been trying to balance out what to do for the best. Targets have been set for both mortgages. This plan which should be doable. There is our home and a buy-to-let which will be income when we retire as we have little pension provision.

Many thanks

Kind regards

toerag33

Spiggle

Ah, I see.

No reason why you couldn't have two numbers then in that case. Perhaps one in your regular name, toerag33, and then one called toerag33btl? As you will see there are spaces available for this year if you want to record for this year and then we can give two 'accounts' for next year too.

Let me know if you want to proceed with this plan or any other.

Take care,
Spigs

toerag33

Hi Spiggle

Yes, please - would like to proceed. I can send all the information in the next few days.
Many thanks for your very prompt help.

Kind regards

toerag33

Malski

PennyGrabber wrote: »

I will be making an op on the 23rd, but think I shall organise my money a little differently this month. I will give each pot slightly less, and put the remainder into an op pot. If I need it, it's there, but I'd I can do without then I can use it for an op. If it's out of sight, I may be able to put it out of mind!

Trouble is, I have so little money to organise, that it already has to streeeeetch a long way! Been busy thinking about a target for next year, and how I can achieve it while still being able to afford to live.

PG x

Every little counts in the end. Not sure if its true but a while back on here someone commented that for every £1 you OP you save yourself £3 in interest overall.

MoneyMission

Ta daaaaa.

Number 120 here.

Op made of £128.00 taking me over my target for 2012!

:j:j:j

I'll continue OP'ing for the rest of the year but may also siphon some off for the car savings plan. We've managed to save £4300 into that pot to date this year. Once we're at £10K we'll sit on the money until one of our cars goes 'bang'. We can then start to really hit the mortgage with the extra £450 a month we've been car saving.

When my brain is in a better / more agile frame of mind, I'll work out how long it is to get to car savings total then work out an OP amount to pay next year so I'm all ready to sign up to the 2013 challenge.

Bring it on!! :T