I have a dream...to be a money magnet! 3 April 2013 at 9:44AM in Mortgage-free wannabe 180 replies 26.1K views

Miss_Money_Magnet

So, doing really well so far.  Not sure Id be so successful if we weren’t in lockdown!!  Food spending still a struggle- prices have gone up a lot I think.  Otherwise rejigged my pots and looking good.
Nice bonus that I had saved up money that I thought I was going to have to pay to HMRC but I now dont need to.  Of this, Ive put £1100 in my ‘month ahead’ bills account (so I can start paying things annually ahead- I currently do everything by monthly dd so overpay for that) and £400 in my holiday account which was looking to fall short.  This has been a real help!  

I have been trying to evaluate every spend and have stopped going the co-op in the morning for a pastry- bad habit- and have been really strict about taking my lunch.
No take away this weekend.  Have used some of the little packet dry sachets for spag bol and sausage casserole from Ald* and they are really nice- about 49p each, a lot less sugary tasting than the sauce jars.
Im being strict about using up food and cutting waste. We had one of those little’2 for £7’ chickens for tea on Friday and whereas sometimes Id then throw the carcass as not enough chicken to do a lot with, I got the bit of meat off, mixed it with stuffing and mayo and it did loads of tasty sandwiches for yesterdays lunch.
Quite impressed with myself lol!!

Miss_Money_Magnet

Still going well- Im using my Monza account and have broken my spending money into week1 / week 2 etc... and have added an ‘in the black’ account with a buffer if needed.  Am also saving up for a bag I really want so added a pot for that.
I think I might just end the month £10 over on the food budget (the increased food budget!) but much better.
I am going to try to not touch my main account- transfer any spending cash over to monza and use that all month- so I can see where I am easier.
Ive managed to o/p about £380 this month for a target of £400... will probably be able pay the extra 20 by month end.  Can I keep it up each month... no idea- but I guess it all helps

Miss_Money_Magnet

Still not doing great.  Had one expense after another.  Im really trying to get my budget back on track.

Miss_Money_Magnet

Back after a long gap- trying to get back on top of things.  Just remortgaged so will save about £70 pcm, which I will leave as an overpayment and that will mean I will automatically overpay nearly £200 a month.  This should mean mortgage is paid off in about 15 years and then anything else will help bring it closer to ten.  Budget feels tighter and tighter so need to get back on the mse wagon!!!

Miss_Money_Magnet

Had to stop overpaying for a while and have also paused my saving to my s and s ISA.  My tesco credit card kept creeping up and I just needed to pull everything back and start again.  Ive paid off my small next balance this month and got cc down to £999 so just hanging on until payday.  Ive tried to really watch the pennies this month.
money saving things Ive done:
Avoided going to the co-op, just managed with what we’ve had in the house
fixed my energy bill to try to avoid it going up again in oct
Trying not use the dryer
Took own goodies to the cinema (£1.60 for minstrels, £4 at cinema!)
prezzies from cheap shops
found a trial beer pack for a fiver for hubbie for fathers day- now just got to cancel the subscription 
refused to sign child up for new expensive hobby
careful food shop, reducing waste
signed up for shell loyalty card- got freebie chocolate bar
child gave up a hobby- it was costing a fortune in fuel plus ended up stopping for food after trips, saving on monthly fee, petrol, food and regained a load of time
Turned down an outing
signed up for a market research event which pays out a £40 amazon voucher

Its really made a difference- just need to maintain it now.

I want to pay off the tesco cc, then kick savings and overpayments back in.

savingholmes

Good luck with your re-focus. You have made a lot of progress. I'm sure you can get things back on track. I think the scale and speed of the cost of living rises have taken a lot of us by surprise. Perhaps it would be worth updating your SOA even if you don't share it.

Miss_Money_Magnet

Thanks Saving Holmes- Im definitely going in the right direction again.  Reduced cc again this month- a little slower than planned but itll be paid off by November worst case scenario…
Hoping by Jan to kick my mortgage o/ps back in.

Money saving things Ive done-
been much more careful not to waste food
careful food planning
no mid week co op shops
taking food for lunch everyday
hanging washing out/not using dryer
trying to put money into sep pots and leave it

savingholmes

Well done on the small steps they all head in the right direction

Miss_Money_Magnet

So back again to try to get back on the overpaying thing!
I have not done well lately- anyway, like many of us- new year new start.

Ive set up a starling account which I really like and I have transferred the ACTUAL amount of cash I have to spend, as opposed to the fictional amounts I always THINK I have available.  

Ive also moved my saving pots to zopa so they actually earn interest.

I don’t do ynab anymore but I am going to try to follow the principle of only spending/budgeting what is actually available in the starling account.

Previously with my current account Id always think I had more available than I did or keep rationalising what Id have next week and spend that in advance etc.

I like on starling that its really clear- what you have available and what you’ve spent for the day or for the month.  Its keeping me honest.

I should have enough to op £190 every month but have been frittering it, so Ive put it aside this month and once all the bills have cleared if all looks ok I will overpay it.  I will then also ring and increase my monthly mortgage payment by £190 to automate it.  I need to do this as I want, very worst case, to ensure the mortgage is paid when Im 60.  Ideally by 55…
Ive been much more careful since pay day and seem to be doing quite well for now- but theres a lot of month left.
I am going to try to have a year of enjoying our home/garden and doing jobs myself on them cheaply… and avoid spending.
I am also going get the family to write down two free things and one thing that costs-that they’d like to do this year- and then work through them. Thought that’d be nice.
we have booked a ‘budget sensible’ summer holiday so I have that all budgeted out and feel this year I can get back on the op path.
Ive got £1600 on my credit card to pay off and £60 on next.  Im going to pay these off monthly alongside my plans as I feel I can stick to this. 
Happy New Year to you all- may it be prosperous and full of the things that matter x

Miss_Money_Magnet

Have finally reinstated my standing order with the mortgage company so my overpayment is taken automatically- £190 a month.  Then any more pay rises I am going to increase this, even if only by £10/20 a month….