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'Almost there...' A MFW Journey

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  • as long haulers on the MF road (we still envisage at least another 12 years on the mortgage, being realistic), I would imagine that by the time we're MF, my student loans would either be cleared, or easily clear-able with the money that is currently chucked at the mortgage on a monthly basis. It is a very low priority for us.

    Student loans company have an awful reputation for messing up any payments that haven't gone through PAYE, so if you do decide to make an extra payments, keep very good records of what you've paid and when. (By the same token, I am religiously filing all of my payslips).


    Thanks for sharing your steps, plenty of food for thought here

    Yes I religiously file all of our payslips but I didn't really know why I did it, now I have a reason why, thank you! :p
    Nooooo I had my first daughter at 24 so I didn't do the whole clubbing thing either, it's not my thing anyway. I socialise differently - drink a tad too much a bit too often but have fun:p I also love walking my pooch just back from a 6 mile trek, Poppy thinks it's Christmas with the long walk but I've signed up to walk 26 miles in May on the moonwalk and thought I'd better get moving a bit!!!

    Oooh well done you, what a great thing to do. Keep on truckin', you'll be doing 26 miles in no time. We have a seven year old Shar Pei who hates walking so six miles to her would sound like a nightmare!
    Alchemilla wrote: »
    Congratulations on your marriage and on your PGCE.
    Thank you very much, it's been quite a year! I'm thinking of 2014 as something as a rest! Although I am finding NQT year very stressful, hopefully with my new positive thinking vibe I will get through it ok... :o
    :heartsmil Stay-at-home-mummy of two, pinching the pennies but loving it! :heartsmil
    :grin:Spreadsheeter, piggybanker, envelope-system user!:grin:
    :exclamati Debt £1400/£6500 21.5% :exclamati
    :question: Emergency Fund £0/£500 0% :question:
  • Alchemilla
    Alchemilla Posts: 6,252 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    It does get easier exponentially as you get faster at planning and marking.
  • Pearla*Merle
    Pearla*Merle Posts: 1,611 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Love the goals, Kansas - they're top of my list as well, I'm a right wallower so will be joining you on the get chipper and cheerful mission. :D I was also walking round a bookshop today and realised how many gorgeous books are out there waiting for me... if I don't actually make an effort to pick them up when will they ever get read?!

    Thanks for sharing the five steps as well, great food for thought :)
    a penny picker upper. MFW approx 78% to go | FIRE 3 years worth (30% savings rate: now aiming for 40%!) | Normality is a paved road; it's comfortable to walk, but no flowers grow on it | Whatever you're meant to do, do it now. The conditions are always impossible | The only thing you absolutely have to know, is the location of the library
  • Well we bought the car... I'd been squirreling away money in Dec and Jan in anticipation so I've already paid £800/£3835 off of the 0% CC that we put it on. We're not overly happy paying this much for it as we've cancelled the kitchen... but in the grand scheme of things we're still OPing our mortgage, still saving £250 per month towards a new disaster fund and have a hopefully more reliable and worth-fixing car. Also by the end of Feb we will have a safe flue liner too. Safety and practicality are necessities, nice new kitchen is a luxury! Maybe next year. The car itself is lovely, Tinker our Shar Pei can jump in and out safely (we were lifting her in and out before!) and she can't jump over into the back seats as we have a dog grate etc, it feels much more practical. It's also the newest car (2006) we've ever owned so it feels rather swish. I luff it!

    The disaster fund has been re-started with our first monthly S.O of £250 and our standard mortgage OP of £158.90 came out then I also OP'd a cheeky £21.30 to round the number down overall.

    Our grocery shop this week came to £29.85, using up some of the food we had in the freezer and store cupboards. I needed a few bits like tin foil and vegetable oil though so that bumped it up (still bought all value range but it all adds up!). Meals this week:
    Mon: Meatballs, spaghetti in tom sauce and garlic bread
    Tue: Pizza and salad
    Wed: Tuna pasta bake
    Thu: Jacket potatoes and prawn cocktail
    Fri: Battered fish and wedges
    Sat: Pasta bake
    Sun: Mac n Cheese

    Sooooo carb heavy (particularly pasta!) but this seems to be the only way I can keep it under £30 each week. We generally have a green veg each night e.g. spinach/broccoli too, either frozen or fresh. Tonight we had a nice treat, some rice pudding from a Christmas hamper gift we had bought for us. We don't usually have pudding so that was lovely!

    I have made time for reading this fortnight, we've been going to bed nice and early and reading for a good half hour, rather than a five or ten minute flick through, which is great. I think this helps to get a good night's sleep too, although generally *touch wood* I am a fantastic sleeper. Like a log, all night!
    I will admit I have found it quite hard to think positive this fortnight, I have found work quite stressful this week, made a few mistakes then I get down on myself.And just generally, the responsibility of these very young children is all still very overwhelming! :( We also had some wonderful extended family news :) but it's the kind of news that has made us re-think our own long term goals, and those two factors coupled with the general post Christmas blues and post festivity comedown has led to my feeling a bit blue and finding it hard to snap out of it! Taking a leaf out of Alchemilla's book I shall list what I am grateful for today to re-focus:
    * Cruising around in the new car
    * Frasier on DVD
    * A smiley and positive Teaching Assistant
    * A delicious meatball dinner (with pudding, wahoo!)
    * My little family (hubby, dog and cats) who always listen and offer stellar advice/kisses
    * Forums (this, and another completely different yet equally addictive Disney forum HA!)

    Happy MFW'ing! KK xx
    :heartsmil Stay-at-home-mummy of two, pinching the pennies but loving it! :heartsmil
    :grin:Spreadsheeter, piggybanker, envelope-system user!:grin:
    :exclamati Debt £1400/£6500 21.5% :exclamati
    :question: Emergency Fund £0/£500 0% :question:
  • Love the goals, Kansas - they're top of my list as well, I'm a right wallower so will be joining you on the get chipper and cheerful mission. :D I was also walking round a bookshop today and realised how many gorgeous books are out there waiting for me... if I don't actually make an effort to pick them up when will they ever get read?!

    Thanks for sharing the five steps as well, great food for thought :)

    Thanks Pearla! I'm the other way with books, I'm always buying them from charity shops and my house is full of them, but I don't dedicate enough time to reading them so they continue to pile up!
    :heartsmil Stay-at-home-mummy of two, pinching the pennies but loving it! :heartsmil
    :grin:Spreadsheeter, piggybanker, envelope-system user!:grin:
    :exclamati Debt £1400/£6500 21.5% :exclamati
    :question: Emergency Fund £0/£500 0% :question:
  • Hi KK, just read your diary as I was drawn to where you live ;) You sound like you love it there. I'm hoping to move in that area one day, any tips?? I am visiting in May and poss over easter for a daytrip.

    I am so jealous that you are starting OPing at your age. I didnt even have a clue about all that jazz back then! Its great that you have a career goal and a financial plan. You should be really proud of yourself. I wish I had your drive!
    MFW 16 No 33
    2016 OP Paid/Target 2063/£2063 (100%) COMPLETE
    Mortgage Free - Apr 2016 -DONE!:j
  • Hi norfolkdream, thanks for reading and thanks for your kind words. Whereabouts do you live now? We love it here, we are under 10mins drive from the coast in a friendly village, yet an affordable one (quite rare around here lol!). We moved here 2.5 yrs ago now and would hate moving, the only reason we'd consider it would be when we start a family as we are quite isolated out here and all of our family live in the same place in Cambridgeshire. So not miles away but too far to babysit/get the kids if they're ill, in a couple of years time when we have littluns! But right now the thought of moving house or moving county is horrible, we love it here. It's a slower pace of life and it can take a while to become accepted in these rural communities where people have lived all their lives but just having so much beautiful scenery and lovely dog walks and to be able to pop to the sea on my lunch break at work is awesome.

    I need to post an update on my financial goals/achievements/plans now that it's Feburary too! Watch this space. Do you have a journal norfolkdream?
    :heartsmil Stay-at-home-mummy of two, pinching the pennies but loving it! :heartsmil
    :grin:Spreadsheeter, piggybanker, envelope-system user!:grin:
    :exclamati Debt £1400/£6500 21.5% :exclamati
    :question: Emergency Fund £0/£500 0% :question:
  • kansaskitty
    kansaskitty Posts: 137 Forumite
    Tenth Anniversary Combo Breaker
    Well we are half way through 2014 (!) and I thought it might be beneficial to do a half year update, reflect on progress and clarify goals. There are six months left of the year to refocus and begin to work on achieving our goals.

    Personal Goals
    I have set myself two New Years Resolutions, or goals if you like.
    * Have a positive mental attitude
    * Make more time for reading

    I have been sporadically keeping a gratefulness diary, which is a lovely help with positive thinking. It's funny, I keep writing in it when I am feeling lower/extremely happy but tend to neglect it when I'm just plodding along getting on with things. I have also taken up Iyengar yoga once weekly and I love it, I look forward to it every week!

    Still reading most nights but it has drifted back into a five minute flick through then zonk out, must get back to going up a full half hour earlier than when I want to go to sleep and have a good long read.

    Have also started a healthy eating plan, trying not to call it a diet as we are hoping we will just continue this. We're trying to 'eat clean' and eat less carbs. In doing so I lost 10lbs and hubby lost 1st 10lbs in around six weeks. We had a little break in half term with a few dates and meals out but are back on now, I am hoping to maintain and hubs is hoping to lose another stone.

    Finally, in July 2014 we will have been in our home three years and married one year. I like to think we have looked after and improved the house a bit, and I am glad we have taken our first year of marriage to nurture our love and respect ourselves as a couple, without the stress of getting a bigger house, starting a family etc. We also didn't take on any more pets, three is enough!

    Financial Goals
    In Jan 2013 I decided on these Five Baby Steps to Financial Success, with a view to a rough three year plan:
    Step One: Emergency Fund
    Create an Emergency Fund of £500 for car/boiler repairs etc
    Aim: Feb 2013
    Reality: Completed this Feb 2013
    Step Two: Three months expenses
    Put three months worth of expenses (bills and mortgage) into a savings account
    Aim: £3000 by Dec 2013
    Reality: By Dec 2013 we had reached £1800, then in Dec 2013 our car died and our flue needed lining so we used the full £1800, aargh. We started again January 2014 and as of now (Jun 2014) we are up to £1800 again! (The number that disaster struck before, oohh noooo!) Very proud of this, hoping for £3k by the end of 2014.
    Step Three: Pay off your home early
    Begin making overpayments on the mortgage and calculate how long it will take to pay off
    Aim: Begin OPing Feb 2013
    Reality: We did begin mortgage OPs in Feb 2013, and didn't quite manage to overpay religiously every month during 2013. So far however we have overpaid every month of 2014, yay! Doing well with this one.
    Step Four: Pay off your Student Loans
    Make overpayments when possible to cut down the student loan as interest is paid on this
    Aim: Begin Sept 2014
    Reality: I really don't think this is a huge priority for us, we've started to seriously consider beginning a family in the next year or so and our main focus is going to be getting a nice number in the savings account.
    Step Five: Invest in your retirement
    Begin extra contributions into the pensions to secure our retirement
    Aim: Begin Sept 2015
    Reality: Having had another look at AVCs the amount you plug in does not equate well with the amount that you benefit during retirement! Ditto above really, a higher priority than this is going to be the immediate benefit of saving, saving, saving to start a family soon.

    Our Disaster fund (Step Two) is at £1800 now, hoping for £3k by the end of the year (Dec 2014). Once it reaches £3k we will start a 'Future Fund' where we're hoping for another £5k (in addition to the £3k Disaster fund) before baba arrives. This sounds like a big ask but without paying for the car £500 each month hopefully we'll be able to achieve it. Oh that reminds me, only £500 left on the car so just the July payment left then that noose around our neck is gone!

    How are you all getting on? Sending positive thoughts to all! :o
    :heartsmil Stay-at-home-mummy of two, pinching the pennies but loving it! :heartsmil
    :grin:Spreadsheeter, piggybanker, envelope-system user!:grin:
    :exclamati Debt £1400/£6500 21.5% :exclamati
    :question: Emergency Fund £0/£500 0% :question:
  • Time for an update methinks! I only ever update to reflect on progess and rejig goals, I need to do more 'diary' style updates to keep things ticking over! I really enjoy reading back, and I enjoy reading other diaries, so I don't know why I don't do it! I will endeavour to try.

    Personal Goals
    I have set myself two New Years Resolutions, or goals if you like.
    * Have a positive mental attitude
    * Make more time for reading

    I have still been sporadic with the gratefulness diary, but it does keep me positive and thankful for what I have. I am still attending yoga and enjoying it very much, I only go to my weekly class and don't feel confident enough (or have enough time!) to practice at home independently, but I still find it very worthwhile. I am going to change my weekly class soon though *hint one* but I will still practice weekly. I am also keeping up with the reading, but I have been very tired recently *hint two*.

    Healthy eating is as sporadic as the gratefulness diary, I got down to my goal weight of 9st but hubby is still up and down with his weight, but currently I am not able to be as helpful as I used to be in supporting him with my own eating habits *hint three*.

    If you've been paying attention to the hints you may have guessed... different yoga class, very tired, eating a bit funny... I'm pregnant! We're expecting a baby in March 2015! :D:D:D:D
    We're over the moon and this is a very exciting time for us. Now that you know that, let's consider the...

    Financial Goals
    Our Disaster fund (Step Two) is at £1800 now, hoping for £3k by the end of the year (Dec 2014). Once it reaches £3k we will start a 'Future Fund' where we're hoping for another £5k (in addition to the £3k Disaster fund) before baba arrives. This sounds like a big ask but without paying for the car £500 each month hopefully we'll be able to achieve it. Oh that reminds me, only £500 left on the car so just the July payment left then that noose around our neck is gone!

    Well with falling pregnant we have had to re-jig the financial goals somewhat.
    Our Disaster Fund is currently at £2800, so only £200 to go to get to our £3k goal (roughly 3 months [TIGHT] expenses, should we lose our jobs we could just about manage).
    I don't think we will reach another £5k on top of this before March (!) but maybe we will be able to get it up to £5k savings overall. We have continued to OP the mortgage, OPing by £213.59 p/month. We didn't overpay July and August (family from abroad stayed for six weeks, drained us!) but other than that we have OP'd for all of the other months of 2014 so far. We won't make our MFW thread (no.105) target by December unless we make extra extra OPs :( but every OP helps :o .
    For now we are going to put off paying off Student Loans (thinking of it more as a 'tax' on having a good job as Martin says) and extra pension contributions and focus on affording all of the baby stuff, decorating etc. without getting into debt. We have bought a new sofa and have kitted out the Nursery in IKEA but still have around £700 on an 0% card for these, but that should be paid off by end Nov 2014 (including continuing to save and overpay mortgage). Not great but not dire!? :)

    So our monthly savings pots/sensible financial outgoings look like this:
    * £200-400 Disaster Fund savings (circumstance dependent and will xoon be re-thought out when we hit £3k)
    * £100 Expenses E-Saver (car tax, MOT and veterinary expenses)
    * £30 Heating Oil E-Saver
    * £15 Christmas E-Saver
    * £213.59 Mortgage Overpayment

    How are you all getting on? Hope you are all well, much love, KK xx
    :heartsmil Stay-at-home-mummy of two, pinching the pennies but loving it! :heartsmil
    :grin:Spreadsheeter, piggybanker, envelope-system user!:grin:
    :exclamati Debt £1400/£6500 21.5% :exclamati
    :question: Emergency Fund £0/£500 0% :question:
  • Congrats on baby news, when are you due? Yoga is great for prenancy
    LBM- finally kicked in 16/12/08 @ [strike]£41,862 [/strike] £0.00/ DFD- 24/12/13 :D


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