2012 mfw

curlygirl1971

FirstTimeSaver wrote: »

Hello everyone,

I have just been added as number 145 and really excited to be starting this journey with you all!

Set target for overpayment of £2000, any tips or advice would be gratefully received:j

Welcome!! The more the merrier. There's a lot of ways you can achieve a £2k OP. If you don't have the spare cash (not many of us do and esp not with Children) then you need to magic it out of thin air. It's very possible. I can only tell you how I do it, I guess other people have different methods which can often include a lot of sacrifice.

* I budget and forecast
* I track and account for all spending
* I save up for annual expenses
* I take advantage of any cashback / vouchers / points I can lay my hands on
* I look for the best deals - I never take a renewal price without checking its the best price
* I move the money that I do have around to ensure it's in the best place
* If I get extra cash then I usually use it as an OP (Birthday money included!)

BUT - having said that I am now in the position where I can still enjoy luxuries such as meals, holidays etc. But this is because I plan and save.

Some of these take time - time which not everyone has, especially busy mums, so find what works for you. It's also easier for me as there is only one person's spending to track.

Take a look at the thread 'All the small things' for some ideas on little things that make a difference
https://forums.moneysavingexpert.com/discussion/3061466

LavenderBees

curlygirl1971 wrote: »

Fantastic Post LavenderBees - well done for all your hard work!

Thanks, curlygirl, I have to say that you're one of the people who motivate me to keep going, when it all feels too tough, so thank you! I wish I could sort your neighbours out for you...when do they sleep? Perhaps you can reciprocate their lack of neighbourliness??

Also, while we're on a roll of thanking everyone...once again, I'd like to thank Spiggle who makes me smile with her kind comments to everyone. No one is missed for a special mention - Spigs, you're a star :T

curlygirl1971

Neighbours - On that side they're not too bad apart from the odd expolsive episode like last night. They work shifts hence the 2am kick-off. They're nice people but like everyone else they just don't realise that in the dead of night everything sounds louder! They are often on the back step smoking and even though they usually talk quietly - I can hear almost evey word...and like I say, I also get their smoke in my bedroom

The otherside are worse. Oh my god, much worse. They also arrive home regularly at 2am and then start DIY projects. I'm talking about floor sanding, breaking tiles up, ripping down partition walls..........Then the kids are up and screaming at 5am, running up and down on wooden floors. Then the parents scream - really terrible language - back at them and it just sounds like bedlam. I know when they are having a bath because he likes 80's New Romantics (fortunately so do I) and she likes American R&B.....

I try to keep things in perspective and bear in mind that
1) The world does not revolve around me and cannot live at my convenience
2) They can probably hear my noise but because I live on my own there isn't that much to hear
3) Families are naturally going to make a lot of noisy because families do!
4) I live in a Terrace house and this is the norm

I think what makes it worse is that I live on a very busy main road - lots of traffic and as I'm quite near a big pub then quite a few drunk and arguing pedestrians at weekend. I grew up (albeit a very long time ago) in a very quite area so I think I just 'feel' it more. And I'm not very good at dealing with issues face to face in an adult way - especially not with my 80's new Romantic - I really would not like to get on the wrong side of him.

Ah well - just booked 3 nights in Wales. Bad for the bank balance but good for the soul

curlygirl1971

curlygirl1971 wrote: »

How do you find the cash:

• After you’ve paid for everything you need to, do you have any cash left? If you haven’t already got one then do a realistic spending budget and stick to it. Record your spending if necessary so you can see where you might be going wrong. Think about what areas you can reduce your spend.
• Not all of us can have it all. So decide what your priorities are and pick your level of dedication. How important is being MF over having holidays, going out, clothes, Xmas spending, having latest technology etc? How far are you going to take it? Is it business as usual or are you going to be more careful with your spending? Or are you going to be all out old-style frugal? It’s up to you – you’re the one that will have to live it and see it through so make sure it’s realistic and there are rewards.
• If you are able to budget a regular OP then set up an OP Standing Order (or just add it to your regular payment) and treat it as a bill payment rather than something voluntary. Anything extra can be OP’d in addition.
• Rounding OCD. If you’ve scraped together £9.98 to OP, then OP £10. If after making your payments your Mortgage balance is at £100402 then OP another £3 to get it to £100399.
• Make sure your money is in the best place. For those of us that do like some savings to fall back on then make sure you check your interest rates regularly and move your money appropriately. Last year I earned about £500 in interest instead of the £100 I would have earned if I’d not bothered moving it. I also earn Halifax Current Account rewards but keep a very low Current Account balance.
• Shop around. It can be time consuming but you can effectively earn ‘extra’ cash. I spent £322 on Xmas presents – I reackon that if I hadn’t shopped around I would have easily spent £418. I saved up throughout the year for Xmas – the money I didn’t spend will be a mortgage OP. If I was really frugal and thrifty instead of just careful I would have either agreed ‘no presents’ or given hand-made gifts.
• Earn extra cash – Cashback sites (I’ve earned £550+ in 18 months), surveys, comps, collect points, sell, extra work.

What will help you:-

• Use MSE – if you’re still fairly new to MSE and the forum then you might not be aware of what a fantastic information resource it is. Every time you make a spending /financial decision, root around MSE, do a search on the forum to see if anyone can suggest a better deal / option, offer a discount code etc. Read MFW diaries for ideas, do challenges like ‘No spending days’, get a Mortgage Pig.
• Understand your mortgage. I think most of us start off knowing very little about our mortgage and presume it’s beyond ordinary folks understanding in any case. It isn’t E=MC2, take your time, read through the docs, get copies if you need to, ask questions - you can understand it.
• A mortgage spreadsheet. If anyone needs convincing then take a look at how much you are going to pay back compared to what you originally borrowed. A mortgage spreadsheet also illustrates brilliantly what a small regular OP can do.
• Get everyone in the household involved. It will erode your motivation if you put in all the effort and all the extra cash if someone else is ordering Pizza every Friday night.

FirstTimeSaver - don't know if this helps any

saver03

Number 142 reporting my monthly OP which for March is £139.76

I know you round it up to £140 but I like to put exact amount as apparently if you look after the pennies the pounds will look after themselves :rotfl:

Hmmmm, why don't I change my standing order to £50.24 so I will be paying a round number each month??

Spiggle

Hi All,

What a fantatsic day it's been, like summer! Ooops, probably not good for those in drought already, apologies. Dentist done (Ow it aches now) and the car serviced and MOTd and I got stung for flaming wiper blades! :eek: Every year I get quoted a price near the £100 mark and end up coming away with a bill nearer £200! Ah well at least it wasn't a full set of brake discs and pads this year - gotta look on the bright side.

Sorry you're having a tough time of it and feeling down curlygirl. You're such an inspiration to everyone it's a shame you're feeling low. :A At least you're coming to this glorious country of mine. That'll make you feel better I hope. I've updated your Quidco OP too.

What lovely kind words LavenderBees, thank you.

I've updated your OP on the spreadsheet saver03. It's actually the spreadsheet that rounds the figures up or down. If you click on the cell you should be able to see the actual amount entered up in the top left of the screen to the right of fx (I hope!:o). A lot of MFW round their OPs up or down by the way - some for neatness and some because OPing is addictive and obsessive!!! :rotfl:

From the googledoc, kate1979 your March OP has been added to the spreadsheet, well done. :T

I should be around for a little while and will check later for anymore updates. Enjoy your evening and the weekend.

All the best,
Spigs

SmileyG_2

Hi everyone ....

Just dropped in to see how everyone is doing.

MF date is getting ever closer, so although I'm not part of the MFW 2012 clan, I still like to offer support from the touchline having been part of the challenge in 2010 and 2011.

Keep going, every penny overpaid today is more valuable in the long run ...

SmileyG

fillyfop

Hi everyone, No.38 here with my March overpayment.

I've received my statement which is what I go by and I've managed an overpayment of £639.83 so still ahead of target and very happy as this was a tough month for me

Right, now to update the 1st post form and my signature.

Keep going everyone

Spiggle

Good morning,

Another full sun day here at the moment, chilly breeze though which is to be expected seeing as it's still March!

Well done fillyflop, when it's been a tough month you've made a great OP and it's now updated on the spreadsheet.

And from the googledoc, originator I wish I could find 'idle' money, lol! Well done, I've updated for you.

See you later,
Spigs

originator

Thanks for that Spigs,I noticed for the last couple of months there was £200 I didn't know I had in the a/c.Checked and double checked so now it's gone to mortgage(must have been a miscalculation on my part,hopeless at maths!):)