Someday Soon is back in the game!

someday_soon

Hello everyone:wave:

Some of you may remember me from the last MFiT challenge. We managed to be on target for the first 2 years to completely clear our mortgage through a pretty extreme overpaying strategy:D The work we do is not very well paid and we have a couple of kids, no pension provision, no savings but our mortgage is flexible in terms of drawing back capital if the needs arise (something we test sitting in front of the computer screen from time to time, just to be sure:rotfl:)It would be fair to say that the last year of the MFiT challenge brought calculated complacency, we started to celebrate our win a little to early, nice holiday and a new car and then the game changed with much doubt about my job.:( We seem to be through the worst now and during the troubled last few months the focus has returned. Our aim is to clear the mortgage as quickly as we can, and then address how we make provision for our futures. I should say at this point that pretty much every financial product we have ever bought, from endowment to monthly savings plans to payment protection insurance have proved to be a bit of a con as many of you will know. This must be partly down to our poor choices but I really struggle with faith in financial institutions now and I don't trust them to do the right thing by us. Anyway, good luck to you all with your own challenges, I hope you will pop in from time to time to support me with mine.

Someday Soon

skint_spice

Good luck!

Secret_Saving_Squirrel

Hello,

Yes, I share your scepticism about the financial services industry. Having the mortgage paid off and a nice wedge of money in a building society is my personal aim.

Good luck,

Squirrel

someday_soon

Right, so we have a balance to update in the current MFiT challenge. I haven't entered one figure in there this year (sorry FB) but I really lost heart with everything going on. I spent more time on the redundancy boards than on these ones:(. There is now 13,500 to clear and it is our intention to see the back of it by May:eek: when it will be my wife's Birthday. I should say at this point that we are together in our aims. We are going to need to do more than pay the £1400p.m (60% of our combined take home pay) we pay currently to the tune of £300 per month:eek::eek:
In the early days we were really disciplined with batch cooking, shopping around and switching utilities etc, so I know I need to get back into that. I have £110 of Mr T vouchers - what would be the best use for them - Christmas is on the way I suppose? We are not extravagant now, no sky, gym fees and we definitely work best at the extreme end of the challenge spectrum, partly because we can cope with doing without things for a short time, but of course this gets harder as each month of doing without goes by.
So this is the last leg of our challenge. I want to try and keep a record as we go along so any suggestions would be very welcome.:)

Someday Soon

someday_soon

Ok, we are back on track here. Mortgage just cleared and along with EBay sales and using our heads at the supermarket, the balance is now just a penny or two under £11,500. Some batch cooking with cubed steak from framfoods this month so the base for a couple of dinners is now in the freezer. Have a big leg of lamb and a slow cooker for the weekend and no idea of what to do next:rotfl: Not even sure if it will fit:doh:Ideally I would like a Sunday dinner type meal and a couple of other things out of it. I have never cooked a leg of lamb though. Thinking curry:D
Any suggestions?

Someday Soon

someday_soon

Its CHRIIIISSSTTMAAAAS

So, the first of December and as the kids grow older Christmas just gets more and more expensive:eek: It was so easy when they were small, their lists were fun to buy, furry toys, dolls, games and the like, but now it has become much more difficult with the inclusion of electronic gadgets, laptops, mobiles and games consoles in the dreaded Christmas List_pale_. The added pressure comes from the fact that they are so in tune with the latest (and invariably most expensive) brands. The people who market these goods have really done a job on us and our kids haven't they? When coupled with regular statements such as 'everyone in the class has/is getting one of these' it is almost impossible not to follow the herd. Have just paid for Christmas on a 0% on purchases card which I intend to repay in Feb and March when there are no council tax and water rates to pay. Have also used all the vouchers from Mr T.
Looking for turkey roadkill, not having much luck:rotfl:

Someday Soon

someday_soon

Have updated in the MFiT challenge a balance of £7,999,99 after what has been a tough year. Will need to pay £1600 per month for the next 5 months to make the last payment in May. This is going to be a stretch but it can and will be done. There will be nothing left in the cupboards. Every last tin of soup and 'iffy' cook in sauce will be gone.

Nearly there now

Someday Soon

someday_soon

Have just updated a balance to clear of 4,880.
I'm getting quite excited now. I really want to look at the investments boards but they scare me a bit. I have no pension provision or savings but I will have about 1,400 per month (my mortgage payment since starting to massively overpay about 4 years ago)
I really don't know how to do the next stage. Everyone has different opinions over there. I set myself a target of saving a further 22,500 before the end of the mortgage free in 3 challenge which finishes in Dec 2015 so I might just go with that. Any plan is better than no plan at all right?:rotfl:

Someday Soon

someday_soon

Just £2990 to go and the future planning has begun in earnest.

1 Invested in YNAB to forward plan and budget effectively
2 Invested in regular savers which beat my mortgage interest
3 Decided that work is now simply a means to an end and not the critical component without which the world comes crashing down.
4 Relaxed a bit, actually had lunch breaks away from desk.
5 Relaxed a bit more and 'worked from home' a couple of days in the last month.
6 Began planning for 2015 holidays, yes there will be more than one
7 Began planning for 2015 kitchen. just one kitchen
8 Considered not paying anything at all off the mortgage this month, then decided to throw it £100 rather than £1400 as in most previous months in the last 4 years.

Mortgage, I'm the Daddy.

Someday Soon

quicklee99

Inspiring work, so just over 2 months to go? It must be a bag of emotions for you now, so close to the end!

Re: Pensions/savings/investments. No reason why you can't put a bit in each, they do say don't put all your eggs in one basket. The only thing I'd about pensions is (not sure how old you are) it's best to start one as early as possible to get the most benefit from them.

gallygirl

someday_soon wrote: »

7 Began planning for 2015 kitchen. just one kitchen

Mortgage, I'm the Daddy.

:rotfl::rotfl::rotfl::T:rotfl::rotfl::rotfl: