Onwards to freedom!

Karmacat

I *have* to try that supermarket gift card cash back shenanigans, such an easy win for the money!  And you're in a good place, SSS, nice one  

AnotherNewDay

@SuperSecretSquirrel - i've just found out about your thread and so have time travelled to Sept 2012, where the world was a very different place! 
Within the next year I will move from 2.14% to i'm not sure what, but likely at least double that...which has inspired my MFW
I'm not focusing on regular OPs just yet, but instead squirreling as much as possible into higher interest savings with the intention that I can first benefit from the better savings rate before making as close to 10% OP as possible this and next year before my fix ends in Nov 24.

LadyWithAPlan

I also retravelled back to 2012 and re read your diary to remind me of your successful steps, especially after your comment on my thread on keeping my mortgage low.

Thanks for all the good reminders including - inspired by you -   I used to look closely at my  approx Fire % number  (difficult as i still dont own a home so having to do a ex rent fi and a fi rate w and w/out my house deposit) ) but a best guesstimate - I will start looking at that number again as it is in my spreadsheets anyway and it is looking better.

You remind me I should breakdown actual spends over a set period eg 3 or 6 months as it would be useful data.

AnotherNewDay

LadyWithAPlan said:

I also retravelled back to 2012 and re read your diary to remind me of your successful steps, especially after your comment on my thread on keeping my mortgage low.

Thanks for all the good reminders including - inspired by you -   I used to look closely at my  approx Fire % number  (difficult as i still dont own a home so having to do a ex rent fi and a fi rate w and w/out my house deposit) ) but a best guesstimate - I will start looking at that number again as it is in my spreadsheets anyway and it is looking better.

You remind me I should breakdown actual spends over a set period eg 3 or 6 months as it would be useful data.

@ladywithaplan it was through your diary that I found this one

SuperSecretSquirrel

Thanks for posting SH, KC, AND, and LWAP 🙂

AND and LWAP, I've re-read this diary from the start since you both posted about doing so. It's something I like to do every few years to remind myself of the journey, thanks for the push and the trip down memory lane 🙂

AND, certainly at that rate I'd be saving not overpaying. I'd also be thinking very carefully about whether I'd want to make use of the 10% fee free OP allowance or not.

LWAP, that's the beauty of spreadsheets 🤓 With a few tweaks you can play out various scenarios. You might be able to compare your FI% right now to FI% if you purchased the smaller flat, the bigger flat, etc. It might help with some decision making. I know it helped us when we were considering upsizing a few years ago. Projecting into the future can be fun too 😁 Never accurate, but fun 🤣

November already… Time for another update!

I moved 2.5k back into PBs towards the end of October, they'll be in the December draw. Hoping to do the same again this month ready for the January draw. I won £175 in the November draw 😎

Withdrawn a total of £65.90 from the one and only survey site that I use in October. Very happy with that amount! Helps top up my lumpy annual spends pot.

Earned £4.08 cashback from grocery shopping gift cards in October, and there's some more cashback for non-grocery purchases on top of that. This little bonus also tops up the annual spending pot. It's a tiny bit of hassle, but probably worth it. I should probably get myself a cashback spending card too, but have resisted so far as I don't want to be juggling more accounts.

The heating is still off, but probably not for much longer. Getting past halloween was the target, anything more a bonus. We're still at a very comfortable temperature for now. We've had the dehumidifier running at night since mid-October - it's plenty warm enough but the air is starting to get damper now.

Received my first tranche of interest from the one year fixed rate bonds. What a welcome sight that was 🤑 £76 in all 😎 I opted for monthly income and shifting it into a slightly lower paying easy access savings account each month, makes my tax return easier as I should manage to slip under the tax threshold this year and next (especially now I'm topping the PBs up a little too). If I get a major PB windfall that will change things, but would be a most excellent "problem" to have 😁

I finished my core christmas shopping in October 😇 Finished everything for everyone outside our home, and got everything that OH and the children have asked for plus a few extras. I might get a few more surprise gifts for OH and the children if and when inspiration strikes.

I've started firming up a financial plan for 2024. I temporarily boosted my monthly S&S purchases in the hope of hitting a target amount by the end of the year (HA!! 😅). The plan was to drop this back down again to where it was from January. I don't think I'm going to drop it back down quite as far as that now, rather just down to the point where I invest a little over half my monthly net salary instead (I'll round upwards to the nearest £50 or £100).

On the subject of S&S they've had a pretty shocking month… C'est la vie, this is the game we play 😬 The fact that the current valuation is about 150% of what I've paid in over time makes it a little easier to be sanguine at such times. It does remind me that it's an absolute nonsense setting targets like "get over 100k in S&S by the end of the year" 🤣 I really should know better than that!

Health and fitness are still going well. I have a weekly check-in with the bathroom scales and we are still friends, even with all the Halloween treats I've been dipping into 😋 Outdoor exercise has dropped off recently - I'll probably need a plan for the winter, just been winging it so far. My usual hibernation mode plus Christmas excess would spell disaster without mitigation. I guess the exercise bike and barbell will feature heavily over the next few months.

I couldn't resist the free £205 for opening (not switching) a bank account, mentioned in this week's MSE email. Doesn't really count as an extra account to track as I intend to carry out the required actions for the bonus then leave the account empty and dormant. It could come in useful as a switch donor if I decide to go down that road in the future. I despair that OH considers it "too much work" for a free £205, very much going to try to change her mind, or see if she'll give me the all clear to do all the "work" on her behalf and she keeps the bonus money. It takes a lot of surveys and grocery cashback to make that kind of money!

AnotherNewDay

Thanks @SuperSecretSquirrel for the confirmation on approach of OP v saving. I agree that with rates as they are it's also no so clear cut on the 10% fee free OP at the moment either. I think it is almost certainly out for this year given that all my savings rates are paying above the mortgage rate. It might make sense closer to the re-mortgage to pay off a lump sum, but I'm already under 40% LTV, so it will come down to new mortgage rate vs savings rate at that time. If savings rates are higher than mortgage rate then I will probably focus on savings/mortgage neutral goal. 

Congrats on the free £205 and  all the other wins big and small!

savingholmes

Which account was the £205? I don't get the email.

LadyWithAPlan

I like your idea of tweaking and playing with my spreadsheets to see how an extra £100k mortgage will play into my fire % … I will have a go! 

I set up my fi spreadsheets with and without my house deposit .. as whilst having a paid for home is part of being retired and happy it won’t help with my income .. so I need to have a further play with them to see what makes sense 
of course being SE for so long I feel it is hard yo
commit savings amounts. Mind you I have always paid my rent on time . So I know I would pay a mortgage .. just be less saved 

I am definitely going to hold more EF cash back from the actual deposit as you suggested - rather than maximising my deposit and also my stress levels 

trix-a-belle

savingholmes said:

Which account was the £205? I don't get the email.

HSBC Advance account, its at the top of the MSE homepage

savingholmes

trix-a-belle said:

savingholmes said:

Which account was the £205? I don't get the email.

HSBC Advance account, its at the top of the MSE homepage

Sadly I don't qualify as I've had an FD account but thanks.