Can I dare to go on the MFW journey

resilie

Hi there!
Have been glued to the screen of my tablet watching this forum for the last few weeks now and am fascinated. Would love to go on the same journey but have so many uncertainties at the moment that stop me from fully commiting to this.
In fairness I have been OPing my mortgage since day one and paid off 30k last year but that was mainly due to some savings maturing and I haven't got any more of these coming up
I thought ill start by listing all the money saving stuff I already do and see if you guys can think of some other stuff I could do

A) I have a lodger- she showers for ever and is hiding an electric heater in her room :eek: but on balance still worth it

I hardly ever use the canteen at work and rely on packed or free lunches

C) no dryer in my house- all clothes dry outside

D) I dont think I am a massive clothes shopper- quite like second hand which is a bonus

E) I keep a close eye on my electricity and gas bills and I think I'm on the best tarrif I can be
F) just starting to grow my own veg; herbs up and running since last year

Weaknesses

A) spend horrid amounts on my mobile

loads on petrol for commute to work- cant be helped

C) certain ethical things im unwilling to compromise on like free range eggs, non battery chicken etc

D) I love travelling- backpacked all over the world on a budget but flights are expensive... love it and will definitely continue

E) the BF hates all money/budgeting talk and hence is not on board...:cool:

Right enough for now... any ideas and suggestions let me know

Cheerio

newgirly

Hi resilie, welcome to the board, with that list it doesn't sound like we can offer many tips you do lots of them anyway

A few other ideas off the top of my head are:

Use cash back sites
Batch cook
Sign up for a hal*fax reward account (£5free per month)

Good luck with it all, especially getting your OH on board, mine is getting better but its been 3 yrs worth of work to train him up :rotfl:

resilie

Hi newgirly- thanks for the welcome! :wave:

Got woken up early by the resident feline sticking a paw in my face wanting feeding- pesty little thing but looooove her to bits.

Already have the halifax reward account actually will need to go to the bank today to pay in a cheque and my plan is to close all my dormant savings accounts and old credit card that seem to clog up my online banking account- will need to make a note of all the account numbers and names before heading into town....

I do a little bit of batch cooking like making a huge amount of bolognese to freeze individual portions-but freezer space is limited and OH doesnt like pasta (or cheese, soup, anything with eggs or milk etc etc... he is extremely fussy:wall: )

Was also planning to do some gardening this weekend but the weather looks nasty- might have to wait till the sun comes out again (when will that be 2030?)

Will endevour to get my numbers onto here soon as well.... main complicating factor is that I don't know what I will do job wise from August onwards so planning is difficult..... hmmmm more about that later...

tootoo

Hi - sounds like your doing great. From the op calculator ive realised even £20 p month makes a difference

resilie

Right guys I've had a look at numbers instead of breakfast

Drew down mortgage in May 2012 £177500 25 year term MF 2037
its a tracker 1.99% above baseline so currently 2.49%; unlimited OP :j

Current balance £ 146485.71

Emergency ISA £ 11466.7

Now the only question is what my goal should be- really ambitious like OP 1500 a month and be MF in 6 years? But as I said I'm not sure what my income will be next year... or shall I start like this and scale back if needed???? Argh don't know...

jimmybrid

resilie wrote: »

loads on petrol for commute to work- cant be helped

If you haven't already got one, the Santander 123 credit card pays 3% cashback on fuel purchases up to a monthly limit. Also check out the new website bespokeoffers.co.uk which has vouchers available to save 5p a litre at Shell garages until the end of May with no cost or tie ins etc.

resilie

jimmybrid wrote: »

If you haven't already got one, the Santander 123 credit card pays 3% cashback on fuel purchases up to a monthly limit. Also check out the new website bespokeoffers.co.uk which has vouchers available to save 5p a litre at Shell garages until the end of May with no cost or tie ins etc.

Wow jimmybrid that's great!!! Thanks so much.... I do a crazy 100mile commute each day so it really adds up

resilie

Made a huge pot of bolognese and now having to eat ice cream to free up freezer space

LisaLou1982

Hi Resilie

Welcome to MFW!

Sounds like youre doing brilliantly already!!!

Re your mobile - are you in a contract? Switch to GiffGaff if not which is a sim only PAYG deal but works like a contract - see here http://giffgaff.com/orders/affiliate/lisalou1982

ive saved a fortune on it esp as you get free unlimited internet and texts!

Good luck with your journey - sounds like youre doing great! (And im definately on board with the travelling bug! I always OP every month but i never let it compromise with travelling!)

resilie

Hi LisaLou
Unfortunately my contract doesn't finish for another 16months or so.... my main issue is actually using the phone to call family abroad and using it when travelling... my debit card got blocked while on hols last month and I spend 20min on hold to the bank from ASIA :eek: the bill was astronomical

How did you find iceland (other than dark and cold that time of the year)? I went a couple of years ago and it was a bit surreal but good fun.... due to job uncertainty haven't got any massive plans at the mo other than nipping down to Croatia in the summer and maybe seeing some friends in NYC in autumn- both hols get to stay with friends or family so just need to get there which is a bonus where are you off to next?

summerholiday

Hi Resilie

From your writing it seems to me you have most things you are able to have under control.

In your position I would check that the utility gas & electr are at the best rates you can get - myself am on an on-line fixed 5 year rate with Scottish Power, due to expire Jan 2015 - so whatever rates you are one it may be advantageous for you to move to another energy provider or sign on to a group one - check this out with Which who I know are behind such schemes. My lodger would not have an extra heater if there is enough heating in the room. Perhaps she needs an electric blanket instead which is cheap to run.

As for the shower - are you on a water meter? Whether you are or not tell her you are and that you are. This will reduce the energy use of hot water or electricity. Place a clock in the bathroom (keeps users aware of their time) and/or place a waterproof egg timer special for bathrooms in the shower.

Does lodger pay anything toward loo rolls - I was thinking she could buy one pack of 4 per month as a contribution to the general outgoings.

This is all I can think of for now.

Oh one more idea - drink apple cider rather than wine - goes further and contains less alcohol and always drink it from a wine glass or similar.