Back to basics with pavlovs_dog: the £6k sprint

pavlovs_dog

survived a very blustery stroll to town. 12 rolls of Chrimbo wrap bought for the princely sum of £3. Also got all special relation cards for next Christmas, with change from a £5. Avoided all other sources of temptation by only going into the shops I had to.

Light fittings we bought a few days ago are now cheaper in the sales, so will be buying new ones and returning on the older, more expensive receipts. We bought quite a few, so we're looking at a fair chunk of money saved by doing this.

We were given money as presents towards bits we have bought for the house, so need to sit down today with my online CC statement and figure out what cash I need to pay off.

Also need to tidy the study as it has been a dumping ground for all my carp the past few months. Can't see the desk or the floor :eek:

skint_spice

I'm bracing myself for a walk into town too it shall definitely blow away the cobwebs! Glad the house is coming together and good luck with the OPs.

pavlovs_dog

28th is pay day, so it feels like the end of the 2013 financial year. Feel that there is huge progress to be made keeping track of our money and getting the best bang for our buck. By taking every penny prisoner we could achieve much more than when we just drift along. OH and I are both cheap dates so we live comfortably within our means. From that perspective, we have never needed to closely watch the pennies. If I'm honest, this lead to complacency in 2013; we could afford to take our eye off the ball because us at our most excessive was still within the realms of affordability. That needs to change if 2014 will see us achieve our aims.

Things we need to do as a priority to start the year on the right footing:

* make end of year CC and mortgage OPs from what was left in 2013 coffers
* end of year mortgage figures
* make decision on whether to keep card guard policy
* Up to date SOA/ budget
* check savings balance
[STRIKE]* finalise 2014 goals and commit them to paper[/STRIKE].

pavlovs_dog

another silly o'clock post, my body clock is clearly all out of synch!

Been fannying about with various accounts online and a plan of action is forming. I have syphoned the money left over from November payday into a savings account temporarily. This money will be split between an OP and helping to pay off CC bill. The only money now in our joint account is December's pay. January is going to be a frugal month (to clear the CC bill and get back on an even keel). I am also going to keep a spending diary to monitor where every penny goes. This info will inform 2014's budget, which I want to complete by the end of January.

Currently pondering merits of homemade spreadsheet to track ins and outs, VS some kind of app/software. Any thoughts?

pavlovs_dog

Financial
*Mortgage balance £110k
*Take control of the budget - every penny a prisoner

House
*get structural work done
*establish and maintain some kind of cleaning routine
*resume declutter and organisation project
*decorate downstairs loo/living room/and, subject to £s, front and back garden

Personal
*lose 1 stone before I turn into Fatty McFatFat
*Look after myself better

glitterjunkie

pavlovs_dog wrote: »

28th is pay day, so it feels like the end of the 2013 financial year. Feel that there is huge progress to be made keeping track of our money and getting the best bang for our buck. By taking every penny prisoner we could achieve much more than when we just drift along. OH and I are both cheap dates so we live comfortably within our means. From that perspective, we have never needed to closely watch the pennies. If I'm honest, this lead to complacency in 2013; we could afford to take our eye off the ball because us at our most excessive was still within the realms of affordability. That needs to change if 2014 will see us achieve our aims.

Hi PD... you have perfectly summed up how I have been feeling recently too, so I will be watching your diary with interest! I think going back to basics and watching the pennies will definitely make a huge difference in 2014! Well done om your mortgage reduction so far, great figures

pavlovs_dog

phoned the mortgage company to sort out some admin bits. The woman I spoke to was lovely (Accord's customer service is 1st class) but the total OP'd for 2013 doesn't tally with what's left the bank. We make ad hoc OPs via Bacs, but also have an in-built OP because our DD is £21.95 higher than it needs to be. Not unduly worried, as we'll get our comprehensive mortgage statement at the end of January. Just means I cannot confidently complete end of year stats yet.

Ad hoc OPs via BACS in 2013 totalled £2003, and inbuilt OPs (which I *think* kicked in in March) will add another £200 ish to the total.

To aid our progress in 2014, I've increased our DD to £812, meaning that our built in OP from January 14 is £122.86. We'll review this again when the mortgage statement comes through, as they will re-calculate our DD in light of our OPs.

And the best news yet? Today's OP + December's payment means we'll start 2014 with a mortgage balance in the £115ks :dance: :dance:

Alchemilla

You are getting ready for a great positive start to the new year.

kansaskitty

Wow PD your start to 2014 is sounding so positive already! I bet just that difference of starting in the 115ks is making you feel so mentally positive! :dance:

Inspired by you I have completed a similar calculation in my own diary, however I have worked mine out Jun-Jun as our paperwork lent itself to this. I'm sure I could have worked it out Jan-Dec but I was being lazy! Not that it helps my Jun-Jun calculations, but similarly to you we are starting Jan 2014 with a balance in the 95ks and good golly that feels good !

I really respect your house and personal goals too, we need to do the very same by establishing a cleaning routine and decluttering majorly. I also have put on weight since getting married in July (contentment, ha!) and would like to lose just under a stone. Let's do this together! :beer:

Regarding budget and incoming/outgoing, I use a homemade spreadsheet. It works for us, but it is a bit lazy! It just has incoming funds (wages) and outgoing (DDs and SOs including mortgage OPs and savings) then has a 'petrol, groceries and fun' calculation for what's left. I know most hardcore MSE forumites would balk at this and need a calculation for each box! *hides*

edinburgher

Happy new diary PD, I have subscribed and look forward to keeping track of your progress.

You have a very similar balance to ours at present, although you've cleared a good bit more than us.