Freedom At 50!

southerndave

Simple day today, went out on a treasure trail round Bexhill, good fun finding the clues and cheap and cheerful day out. Come close to blowing my calories for the day (trying to lose some desk induced poundage) but felt we deserved a treat. Back running tomorrow, lost 8lbs in four weeks so far.

Also reflected on ways to up our income as well as trawled round some car sites looking for the Jag's replacement. A semi-productive and restful day, back to the grindstone tomorrow....

newgirly

Hi SD, its great to see you back welcome

southerndave

Updated my sig and with this month's quarterly bills and shifting of money into savings held elsewhere, it's hit the balance a little, hence the miserable face! Try harder for next month. Have some schemes and plans afoot but mostly medium term so won't see instant results.

Edit. Forgot to add the predicted end date has slipped to May 2025 now from January 2025 showing the amazing difference a little here make to a few months in the future....MUST DO BETTER!

southerndave

Not much to report. Miserable wet weekend so I re-painted our dining area. The Jag is up for sale and we looked at newer cars which although will be a big chunk out of the bank, it will mean much lower running costs, tax, insurance and should pay for itself within three years compared to keeping the jag. As an asset a newer car will also hold value for longer.

Work is really bad at the moment and I am looking at ways of doing something else, less hours more money but what is a big question!

My blog is back up and running, although I can no longer put a link in my signature....

My Blog

edinburgher

Argh! Will this be your third/fourth car in a year?

southerndave

edinburgher wrote: »

Argh! Will this be your third/fourth car in a year?

Third! Sounds bad but I went for many years without a car at all and as a family, for most of our married life with one car. I have had 'hobby' cars in the past, but in the main a one car family. The first Jag I had for a month or so, this one for six.

southerndave

Howdy folks, long time since I posted again......

To catch up we bought another car identical to our new(ish) one so we now have to i10's one white, one blue with six months betweeb them. We had to spend a little on tyres but they pretty much run on very little indeed and give us freedom and interchangeability.

We went on holiday in the summer in the UK and, well, pretty much stayed on it! A very lackadaisical approach to our money folowed our return, followed by some urgent repairs on our home (we had our water tank overflowing for the entire time we were away due to a stuck ball valve which ended up with a complete tank replacement in partial re-plumb).

Then a once in a lifetime opportunity came up. We have family in the USA and they offered to host us for a trip if we paid the air-fare. We couldn't refuse so we had a wonderful long week in New York state and did everything we could while there!

Coming back was hard and even harder to get back into 'money saving'. Coupled with a tough few months at work (office politics which I don't do but am caught in the middle of....) we let everything slide really. We had a great end of year and just enjoyed an expensive Christmas but it is time now, again, to re-focus on the the mortgage and getting it paid off.

So we are approaching the new year with a fresh start. An issue with our mortgage/bank account (see seperate thread in the mortgage section) means bean counting is right out and we plan on managing our money in a more brutal, back-to-basics way with far more cash accounting and 'if you can't afford it, don't buy it' mantra. We plan on using our one account as merely a mortgage and aiming to pay it down as soon as is practicable.

So that's were we are and hopefully going to. Will post an update going into the new year with some figures.

sweetdaisy

It's great to 'see' you back . It looks like you have been very busy whilst on your MSE break and I'm looking forward to seeing what your plans are for the New Year.

southerndave

Well better late than never, here I am. Again. New year not off to great start in some respects as the Virgin website wouldn't work so I couldn't number crunch our account. Annoyed, this however has turned out a blessing in disguise. After much talk, tea and pipe puffing (yes, I smoke a pipe) we decided to continue with applying our 'simple' philosophy and are proceeding thus:

Our One Account (now accessible again) is to be treated for the main like a normal mortgage rather than an off-set account. My wages go in. Fixed bills like council tax, electric, phone etc, go out and that's it. Any surplus is eating the balance of the mortgage.

My wife's money is now what we are trying to live off day by day covering our shopping, petrol and normal living expenses and wherever possible, small bills etc.

And that's it! Extra earnings from self-employment go into the One Account as extra payments.

So far so good, we have to be more disciplined in everything as living on the one income is, er, focussing?! And the results in the One Account appear to be working. January balance was £79,227 , current balance £77,823 so a nice £1400 off already.

Also trying to lose weight as well and managed to shed 12lbs so far on the Fast Diet.

sweetdaisy

Hi Southerndave :j. I've only just seen your post - only tend to come on a couple of times a month as don't have much time.

Great progress on the mortgage in such a short space of time. Sounds like a good system you have there. Glad you are able to access your mortgage account again and it looks like it's really doing well for you .