The march to financial freedom

Ali-OK

Annual Report

It's a new month and it also marks 1 year of tracking my debt reduction progress on MSE. I didn't know back then if I would stick with a diary, but I am glad I have and I've enjoyed the company, the ideas, the support and most of all, being amongst like minded people with the same aim - to get into good financial habits, to pay off money owed and to learn to live a better balanced financial life. No-one said it would be easy, but my goodness, it is satisfying taking all the small steps on the way to achieving it.

There have been months of very little spending, there's been the big decision of selling the sports car and waving that goodbye, there's been months of spending on the house too and adjustments to paying off the debt which has pushed the DF date to June 2015.

There's been many changes to the "small things" that has made a difference - utilities moved, LED lightbulbs installed, a winter of candles , weekly elec and gas readings and constant monitoring of usage, change bucket collecting and banking, not forgetting my daily financials list and checks, the food shopping monitoring and clothes challenge.

I've changed my runaround car and moved finance to the business, I've moved out of my home study and into a proper office and my income has increased since that too. A calculated risk that I'm delighted with so far, with an Emergency Fund that stops worries of having a bad month or 2.

Many rooms have been decluttered, 3 have been re-painted and lots of small jobs around the place have finally been done. I have a more energy conscious and frugal teenage DS - who does actually turn lights off now.

I've seen my health take a battering and that remains an issue, we've not had a holiday in those 12 months, but weekends away for a wedding and events meant we still got time out from home. A holiday is booked and paid for and we're looking forward to that next Easter.

So personal debt figures from October 13 to now:

Oct 13 - CCs £8,190 - Oct 14 £2,340 PAID OFF £5,850 :T
Oct 13 - Car £6,670.94 - Oct 14 - £0 (moved to business) :T

The mortgage.

In October 2013, the mortgage had been on interest only with no capital paid off for close on 4 years. The goal to start paying capital from January 2014 was set with an ambitious target of shortening the term through overpayments from 13 yrs 9 months to 10 years and I'm still on track to do that.

Jan 14 - Mortgage £133,444, Oct 14 £125,763 :T

Interest at Jan 14 - £410.34, Oct 14 £387.20 (TBC by Bank)

Alot has happened in just 1 year. Incredible really. I have a plan for the next 12 months, but like most things in life, the path will curve with unpredictable happenings, calculated spends and all being well, half way through that year, the flag of debt freedom will be waved from my diary. An exciting time beckons.

Daily post coming up

Ali-OK

I love the 1st of each month, for at 8am I phone my mortgage lender and tell them a wholly capital payment is winging it's way to them, how much it is and which part of the 2 part mortgage it is to come off.

Today's scores on the mortgage board after paying £860 off:

Part 1 £25,138
Part 2 £100,625

On 1st November, Part 2 will be at 5 figures :T

I then had a very good work day and a No Spend Day too.

Financials
- bank account checked
- freepostcodelottery checked
- Nectar adpoints - nothing new, still just 12 points
- Nectar Canvass - not looked today
- Nectar Search - not started this month's as yet
- Nectar card value - up at £118.04
- Inbox Pounds - up at £15.83
- Qmee - another 6p, up at 39p

Happy with my lot for today. Still the college refund to deal with, AAT refund to arrive and EE refund to come. I'll have some time to chase up the latter 2 of those tomorrow.

Hope everyone has had a good day.

millionaire_in_training

Hi Ali. I have been missing for a wee while due to a variety of things. Just caught up and dearie me you have been having a right rough time. Any news yet on scan? Office and garden sound fab. Finances going great and your food budget still at least half of mine . I hope that your symptoms are a temporary thing and not MS as that would be a bit of a worry xx

Ali-OK

Hey MiT :wave: Great to see you. I've been trying to keep up with your diary too - lots going on for you as well and well done getting below £20k, a good milestone to celebrate.

Still waiting on the hospital letter for Neurology and MRI scan. A case of managing the symptoms and hoping I hear something soon. Felt quite well today, first time for a while, though the vision issue is driving me a bit nuts now :rotfl:

* * *

A good work day and food shop done tonight, spending a frugal £15.53 including choc chips for the muffins. Have everything else to make those on Sunday. Got a fair idea of our meal plan and it'll all be out the freezer or cupboard except the fresh veg.

I chased up Orange for the £21.72 refund, they're having to chase up the internal team again. I've given them another week to get an answer - I think 21 working days is fair game before complaining.

Phoned the chap who is probably going to have DS's old playhouse (for a local dog rescue place as they can turn it into a kennel/shelter and take in an extra dog or 2 with it) - he was working on a roof so need to phone him back to sort.

So doesn't feel like I've made much progress, but at least I tried. I also popped to see my old neighbours in their new home and spent quite awhile with them.

Financials:
- bank account checked
- freepostcodelottery checked
- Nectar adpoints - still just 12 pts
- Nectar Search - just off the blocks with 1/100
- Nectar card value - £118.21
- Inbox Pounds - £15.86
- Qmee - 10p added to the pot making 49p and I've transferred that to my bank account.

I've written, addressed and stamped the October birthday cards to post off, so that's another job done.

Think that's all the news today, looking forward to my 3 day weekend starting after work tomorrow. I did plan to be off Mon & Tues, however I've now got work on Tuesday! And the half term week which I planned to be off, has been reduced to 3 days for the same reason.

Hope everyone has had a good day.

beanielou

All sounding good on the finances

Ali-OK

Evening Diary,

Am happy with the financials at the moment Beanie - emergency fund should be at £7,193 end of this month, but that excludes some purchases on the monthly use and pay off CC for the garden, so will probably drop back a bit next month, though college refund still due. Still, the CC debt is well and truly covered which is the key thing.

Trying to get ahead of work has meant extra hours tonight, but still a long list of things to do, interspersed with 2 loads of washing done and on airers, bins emptied, towels changed, hand washing up and generally tidying (and eating dinner somewhere in there ).

Aside from work, it's been a No Spend Day. The upside of being busy, no time to get out and spend anything, that's my new secret to unplanned spends then. The downside, not had chance to do much on the financials...

- bank account checked, a TT of £2.82 made, up at £17 in that pot
- freepostcodelottery checked
- Nectar adpoints - bonus plus another ad and up at 27 points
- Nectar Canvass - not looked at
- Nectar Search - a slow start but at 3/100
- Nectar card value - £118.21 still
- Inbox Pounds - is suffering, a tad up at £15.88
- Qmee - nothing new there

Tomorrow, I'll be running DS to school to help out there and off to the hairdressers for a trim. I really need to sort seeing the mobile hairdresser to save some money there. Rest of the weekend will be pottering at home I think and prepping for the garden start on Monday. Fingers crossed the weather won't interfere with plans there.

Hope everyone has a good weekend.

Ali-OK

Well Saturday has passed by in a flash and spends were restricted to the hair trim at £14. Managed to park for free when I collected DS from school at lunchtime.

More washing done and with the autumnal weather now here, it's that struggle to get it dry on airers without resorting to the radiators going on.

Housework all done upstairs, some downstairs with more to finish off tomorrow. I caught up on work stuff tonight (another 2 hours flown by).

Gas and Elec readings done and in spreadsheets. A better week on the electric usage which is good news. Gas still very low. Question is how long until the heating gets switched on, still 2C to gain from candles though, so that's the next ramp up in temperature when needed, with extra layers, then thermals and blankets. I'm sorted for the winter this year. :rotfl: Plus now the gas fire is working again, can huddle up in the lounge rather than spread across the downstairs rooms. That'll please DS no end (not) :rotfl:

Financials:
- bank account checked - also paid in £6 in change bags
- freepostcodelottery checked
- Nectar adpoints - another 7 and up to at 34 points
- Nectar Canvass - don't fall off your chair :rotfl:, but did 2 x 20 pointers and a 60 pointer
- Nectar Search - on my way with 13/100 achieved
- Nectar card value - still £118.21
- Inbox Pounds - up a tad £15.91 - I get the 10p bonus on a Sunday so will hit £16 - woop woop :rotfl:
- Qmee - nada today and an empty pot at the moment

Had a card through the door that something addressed to DS needs paying for - suspect it might be the missing birthday card with money in, so that's £1.53 I need to pay when collecting it. :mad: A job for next week.

Time to check against the To Do list and add a few more things on I suspect.

Ali-OK

Where did Sunday go? :eek: I must have blinked and missed it!

Jobs galone got done at home, muffins were made and the usual financials done.

Today was Day 1 of the garden project, in the rain. I was Chief Tea Maker, labourer, dog watcher, delivery receiver and chef of roast dinner. Soaked, tired, bits of garden inside my clothes :eek:, mud everywhere from doggie paws (on washable floors thankfully) and a kitchen full of pots and pans to clear up. Oh and since the muffins have all gone, I need to make another batch tonight, plus rolls for lunch (as I've got to go into work tomorrow) and sort another evening meal. Great progress made and already looks much better with much of what needs to be taken out/down done.

Still waiting for one delivery that is now late, but not needed until Wednesday. The gravel is due to arrive tomorrow as planned. Sleepers arrived and are fabulous - proper old railways ones with lots of character to them. Pergola was rotten so that can't be re-used. Think perhaps a corner Arbour with seat instead, but that can be pushed back. Get the main landscaping done and the structures (shed etc) can be added one at a time as finances allow. I no longer have any grass either, so it's goodbye lawnmower. :j

Financials then:
- bank account checked
- freepostcodelottery checked
- Nectar adpoints - new week and 12 pts
- Nectar Canvass - nothing done today
- Nectar Search - up at 20/100
- Nectar card value - £118.88
- Inbox Pounds - £16.07
- Qmee - nothing today

To the kitchen for me, then an early night. Better weather thankfully due tomorrow and like today, we'll be doing 8.30-6.30pm, though I'll slope off for probably 3-4 hrs due to work.

Hope everyone has had a good start to the week.

AlexLK

Progress sounds excellent but I certainly do not envy anyone doing garden work today!

Ali-OK

The wanderer returns! It's been rather busy with work and the garden project, so just a quickie update this morning to keep a track of financial events.

CC statement is in and £260 paid off this morning :j Only 8 more of those to go

Will update sig in a moment, just need to find a calculator amongst the chaos :rotfl:

Hope everyone is well and I'll catch up properly later on today.