Stepping to the simpler MF life...

mouche

tootoo wrote: »

NSD today.
OP of £3.83 made yesterday, still trying to chip away. Also paid £18 off into my savings so I'm over target before my target date

Fantastic! Congratulations! :j

Does a SC really work out cheaper? I am so tempted by one but our eating habits are a bit different (OH cooks for 2 hours on a weekend and stocks the fridge/ freezer for a week) I wonder if it will be cheaper for us?

tootoo

Hi mouche
I think its been said it equates to having a light bulb on. We have a fan oven that eats the electric I think. There is always a difference when we aren't home for a few nights at dinner time.
Since our mortgage statement 1nov we've op'd by £92.18 - I'm going to make it up to £100 before the end of the year. Maybe even more if I can convince dh too.

Had to return some children's medicine in the recall today so pennies back in my purse for now. Should be nsd hopefully. I have said I'll make some cakes for nursery on Friday as its their last day - I always mess up the frosting so I've asked my mum to pick me some betty crocker up when shes shopping today as then I don't have to go shopping twice this week as I can't get any local.
Im dreading the Christmas grocery shop, think im going to attempt on Sunday and go alone as I doubt it'll be much fun for the little ones.

tootoo

Now £23 over target. Very pleased with that.
I've been thinking about my savings for next year - I'm wondering whether to have several savings 'pots' or just put all in one pot (and tally up on my own separately). On one hand I think it will be more motivational seeing the numbers go up more and make me think twice before using my savings. On the other, I think maybe separate pots will help with the budgeting?
Still some time to think about it yet.

mouche

I have a spreadsheet with several 'pots' listed tootoo. Some of them I save into regularly so for example, I put £20 into the holiday fund as soon as the salaries come in. I plan our annual budget in advance so I know how much I can afford to save in each pot like this. Some pots don't get regular savings but I put in a bit if there's anything leftover at the end of the month. Then if I need to spend, I know how much is there in that pot so I don't go overboard. There is some flexibility and I have been known to 'borrow' from other pots but only within reason.

The pots have nothing to do with the bank accounts though i.e. each pot does not have a separate account - it's just on paper that it's all divided up. I find this helps me enormously when budgeting for bigger/ annual expenses and prevents me from spending all my savings on one thing because I have that amount of money. I may have it in total but not in that pot so I can't buy it, IYSWIM.

Hope that helps.

Pearla*Merle

I do the exact same as mouche, it means I can stash all the money in the highest interest easy access ISA I've got and make the most of a big stash of savings.

I may have it in total but not in that pot so I can't buy it, IYSWIM.

Can't agree more with this, and it feels SO good knowing I've got the money there for a multitude of things. I once ferried across a tenner every month to save up for winter boots, it felt like I got them for free when I finally bought them.

BlueMoo

I have a few different accounts and pots.

I have a yearly account which includes all annual pots - tv licence/car tax/insurance etc.

I have a blow out account which is my treats pot (takeaways/days out/etc.)

I have a disaster account which is money for unexpected happenings - boiler breakdown/petrol costs for visiting family

I have a repayment account which holds the money in which I need to pay off my CC balance in

I have a long term account - currently used for wedding/honeymoon pots, once over will be used for house renovation pot/new car pot/etc.

Finally I have my current account which includes all my regular monthly bills pot, my petrol pot, my grocery pot, and my socialising pot. Most of my bills come out on the same day, and I take my grocery money out at the beginning of the month and once it's gone, it's gone; so I know I have the rest to divide between petrol and socialising.

So I have a mix of accounts, some which contain more than one pot, and some which contain just one pot.

Hope that helps, and I haven't confused you more!!! :rotfl: :rotfl:

tootoo

thank you all.
I've now moved the 'holiday & big holiday' money to the savings account which has more interest. I can then take out when I need.
Next year I shall move the christmas money over each week and save in their too. Hopefully as you've said, it'll stop me spending
I'll keep a few separate pots for my daily money etc, but hopefully moving into 'pots' will mean I spend less. We shall see.

tootoo

Op of £10.90 today I keep trying to chip away at it as even the small amounts make a difference.

Excitement is building already here for my eldest I'm really looking forward to Christmas! X

tootoo

a few more small op's made.
i've just created a new spreadsheet so i can properly keep track of my op's and mortgage figures and hopefully be inspired to keep plodding along.
had a spendy few days (not huge, but we were away for a night and did lots of shopping, eating and a few drinks). nothing that wasn't already pre planned though. tonight will be dvds in bed snuggled up (need to choose between life of pi,alpha papa or breaking bad which we've heard is good...
more on my plans to take over the world in 2014 shortly!!
happy new year!!

tootoo

random dvd choice i know - can you guess which is dh?!