2012 mfw

LavenderBees

curlygirl1971 wrote: »

A few years ago I found the following piece of writing. I've posted it before on other threads. If ever I feel like 'It's not worth the effort' I read this and it works it's magic.

Okay so it comes with a serving of cheese. But I like it and it works for me. It migh work for you. Whether you're squirreling away savings or saving money on debt/mortgages, I think all of us that are doing so deserve to walk tall.

Saving for Greatness
by Luke Setzer
A fellow freethinker who works for World Financial Group shared this document with me.

Your savings, believe it or not, affect the way you stand, the way you walk, the tone of your voice - in short, your physical well-being and self-confidence. A man without savings is always running. He must. He must take the first job offered, or nearly so. He sits nervously on life’s chairs because any small emergency throws him into the hands of others.

Without savings, a man must be too grateful. Gratitude is a fine thing in its place. But a constant state of gratitude is a horrible place in which to live. A man with savings can walk tall. He may appraise opportunities in a relaxed way, have time for judicious estimates and not be rushed by economic necessity.

A man with savings can afford to resign from his job if his principles so dictate - and for this reason he will never need to do so. A man who can afford to quit is much more useful to his company and therefore more readily promoted. He can afford to give his company the benefit of his most candid judgments.

A man with savings can afford the wonderful privilege of being generous in family or neighborhood emergencies. He can take the level stare of any man ... friend, stranger or enemy. That ability shapes his personality and character.

The ability to save has nothing to do with the size of income. Many high-income people spend it all. They are on a treadmill, darting through life like minnows.

The dean of American bankers, J.P. Morgan, once advised a young broker: "Take waste out of your spending; you’ll drive the haste out of your life."

If you do not need money for college, a home or retirement, then save for self-confidence. The state of your savings does have a lot to do with how tall you walk.

Thanks for the boost, Curlygirl, I've printed this and it's going on my fridge door to remind me what is important, so I don't lose heart with my 3 year plan...am just over a year into it, and it's becoming a hard slog at the moment.

But this pep talk was just what I needed :T

LB xx

Lomcevak

No, no, no, no, no, NO - every penny counts

Thanks for the encouragement folks. We're almost six years into a ten-year fixed (seemed sensible in 2006 ), initially £230k, now a couple of thousand away from £190k.

At 4.99% OPing is an obvious thing to do, but only just getting going - I had a burst of OPing in 08/09 that covered about £3k in total, then we had to do some big building work and started saving, then paying off £20k in (mostly) 0% debt when it went over budget, but at least we got that done and paid off without just dumping all the costs on the mortgage.

On the plus side, if we didn't OP at all at the end of the 10 years the mortgage would be £170k, while if we put in the maximum every month for the next four years it would be £136k so a huge difference. Then assuming all stays the same another 5 years would be down to £50k, and that last bit would disappear in only 30 months. Amazing how it accelerates. So MF-in-10 is borderline realistic for us. Now there's an exciting thought

Needhelpsaving

LavenderBees wrote: »

Thanks for the boost, Curlygirl, I've printed this and it's going on my fridge door to remind me what is important, so I don't lose heart with my 3 year plan...am just over a year into it, and it's becoming a hard slog at the moment.

But this pep talk was just what I needed :T

LB xx

I have just printed it too - good timing with the inspiration Curlygirl - I think everyone is in the mid month OP blues while we wait for our next wage packet.

rainbowcattail

Thanks curlygirl, I too will print and put on fridge. Was feeling a bit dispirited trying to work out how to juggle to get together an overpayment for march, even a tenner so this has given me added resolve. I will find something somewhere!
X

unhappy_shopper

We have only managed to overpay £800 this month. Still something is better than nothing.

Thanks to the OPs for their regular updating and other posters for their continued motivation in our quest to be MF.

Spiggle

Good evening,

Thank you for that very inspirational piece curlygirl, it really lays it out very well.

So, unhappy_shopper, your brilliant OP has been listed on the spreadsheet.

Fron the googledoc, I've added to your March OP Lulabelle1, excellent.

See you all later or tomorrow.

Take care,
Spigs

[Deleted User]

Hi,

Well, only managed £30 so far this month, but it all helps. Brings my total for the year to £195.23. I'll see if I can round it up later in the month

Finally got rid of the CC - £1k off that this month :j.

Going to save for a few months now so will probably on OP small amounts for the foreseeable - big expenses this year, not least a baby due in July eek!

If I manage the £3k it'll be a miracle, but at least the CC is gone.

Have a good day all!
x

Spiggle

Good morning and a happy weekend to you all!

Wrigleydl I've noted your OP and as you say it all helps. And congratulations on clearing the CC, well done.

From the update sheet, trills I've added your further OP. You're on a fantastic 67.53% of target paid and we're only a quarter of the way through the year, way to go!

See you all later,
Spigs

froddington

No 103 - £100 OP made today

curlygirl1971

Made an additional OP to my regular OP on 1st.

£200 from savings and £200 'brought-forward' from 1st April by the magic of spreadsheet accounting. Just 'cause I felt like it. Just 'cause I could Might feel a little agrieved come 1st April though when I realise I have nothing to OP with on that date

Off to update googledocs........