Finally concentrating on becoming MF

hoglet121

Hi Everyone,

I have been a very long term lurker here but have finally decided to concentrate on becoming MF by 2026.Yes I know that is a very long way out but our mortgage is due to finish in 2042 so 2026 is quite a difference.

Here's a little bit about me.. Thoroughly messed up my finances when I was younger and first working and got into hideous amounts of debt - 3 maxed out credit cards, 2 loans, car on HP and an overdraft. I finally learned to budget and sorted myself out. I got married and a bit later we moved to NZ - 18 months ago we bought our first home. At the time it was still possible to get mortgages here with low equity and we bought our place with a 5% deposit. Things have changed here somewhat but that's another story.... Interest rates here are high tho and we are paying 5.2% at the moment, one of the main incentives to become MF as soon as possible.

We saved for our house deposit by being very disciplined, and since we bought we really haven't been good at all. The savings pot just isn't growing and there's a reason for that.... we're spending way too much money. Over here we can't OP except when the mortgage is up for renewal, and ours is in October this year, so a good 8 months worth of saving will really help us make a dent.

DH is more or less on board, but he does remember the deposit saving days with 'we did absolutely nothing and I don't want to live like that', so I have to be a bit canny in my money saving ways...

This week I've realised that I really have to stop spending money in the cafe at work. This is so naughty as I bring lunch everyday anyway... We are both losing weight at the moment (him much more successfully than me.. hmmm i wonder why?!) so I tend to bring good healthy lunch food and then get tempted by a cake or a sandwich later on in the afternoon. I must make sure I bring a little something extra to tide myself over...

DH gets paid tomorrow (he gets paid weekly) so a big chunk of money can go straight into savings... we have some big bills coming up in the next 2 weeks and I really want to take them from each week's money, not dip into the savings from the week before. we have also managed to greatly reduce our grocery bill over the last few months. I send DH to do the shop with a list and he is very good about not adding to it (I am not good at that). As a result we now spend about 60 pounds (NZ keyboard doesn't have a pound sign!) a week less than we were. We're currently spending between 60 and 70 pounds a week which includes all food except veg and fruit, alcohol, cleaning, household products and cat food. Our fruit and veg box is an extra 16 pounds on top. Our household is DH and I and 2 cats.

that's enough from me, I plan on updating this as I go but we'll see. I sure need something to keep me motivated!

Alchemilla

Hello Hoglet and welcome!
One of my schoolfriends lives in NZ. Say hi when you see her!

What about, as a first step, taking hm or bought snacks to work for the afternoon slump?

hoglet121

Hi Alchemilla and thanks for your lovely welcome :-)

Tomorrow I have some elderly cucumber that needs using up and that will have to do for afternoon munchies, as shopping isn't being done until tomorrow eve. Exciting I know! Managed to hold out today...

NZ's so small it's amazing who you bump into.... I once literally bumped I to a friend from the UK in the street whilst she was on holiday here!

MrsPorridge

You sound very like me. I bring in lunch every day and end up in the cafe for a coffee or a snack and I too am trying, very unsucessfully, to lose weight

I will have to try to think of soemthing exciting for the afternoon munchies - 0nly problem is I may end up eating it in the morning!

hoglet121

Hello Mrs Porridge :-)

Oh I know that situation very well, by 10.30 it's all gone.... We don't have a set lunch break at work so sometimes if I'm really hungry in the morning I'll have my lunch early at my desk and then go for a walk around the shops. Helps save money only if I don't take my cards.... I went out yesterday and I was really tempted to buy a gorgeous soft bath sheet that was on sale but I resisted AND I had my wallet with me so I felt super virtuous about that :-)

SO this morning I have had some toast at home, resisted the gorgeous smelling savoury muffins in the cafe - did get a coffee tho but its the cheapest one they do - I've brought a banana for elevenses, last night's left over prawn couscous with added lettuce (was going to add sweetcorn too but DH accidentally bought creamed corn not whole kernel sweetcorn) for lunch and the elderly cucumber for the afternoon.

Dinner tonight is bacon omlette made from yummy farmers market eggs and home made potato farls as there are some vaguely questionable potatoes lurking in the potato box....

DH's pay should be in later on this morning so a good chunk going into savings - and staying there this time! He's off to do the shop this evening, might be little more than usual as we have run out of a few cleaning essentials... mostly scourers, washing up liquid, stuff like that. I make my own multi purpose cleaner with vinegar and washing up liquid mixed together in a scrubbie brush so our cleaning materials bill is actually pretty low. only thing we get ready made is the washing up liquid in the first place, and toilet cleaner.

Also cat biscuits need topping up, as I suspect the neighbour's cat is coming in through the cat door during the night and helping himself - the bowls are suspiciously empty every morning and our 2 are very good at leaving bits... One day last week I found him curled up on the sofa in the morning... my cats & I were chasing him round the house trying to get him out. In the end I opened the front door and let them chase him out. I thought that would have scared him off as he really wasn't very happy but DH said he was back again when he left for work. Cheeky so-and-so!

Just checked the bank and pay not in yet, but looks like approx 165 pounds will go in this week. Little bit more if I can convince DH to put the $15 back in the bank that I know is lurking in his wallet, plus a few coins that are hanging round the house in little piles. They can't earn interest sitting on the bedside table!

hoglet121

Woohoo DH's pay is in... I'd squirellled a little bit away earlier on in the week also (I knew it was too tempting having it looking at us in the current account) so in total this week we managed to put away 0.11% of the outstanding amount on the mortgage. That's just the capital part, not taking into account the interest but the whole point of this is to reduce that darn interest.... it just needs to stay in that savings account now!

hoglet121

Right, another day completed without cafe snacks. the cafe shuts at 3pm so I only have to resist temptation until then.

I was going to have a lazy evening but I am going to list some items on Trade Me (NZ version of Ebay) so they can expire over the weekend and hopefully I'll be more likely to get a sale. I have a real mixture of stuff, all of it has been listed before and has been sitting in a box under the spare bed since ooooh...... probably since we moved in, so I'd best get cracking. Also need to work through my wardrobe - there are clothes hanging in there which I haven't worn last year, or this year, so really I probably need to just get rid of them. I haven't had much success at selling clothes but I will give it another go.

Need to gather in some more tomatoes from the garden too. So far this week I've made 6 1/2 pots of tomato chutney and yesterday I made 1 & 1/2 pots of ketchup. It's a bit runny tho but will have to do.

Looking forward to my homemade farls tonight but boy am I hungry at the moment. The elderly cucumber made it till the afternoon before it was consumed, but it really was very boring. Better nibbles (but still in keeping with the diet) required!

welsh_mummy

Hi hoglet121

Like you have been a long time lurker but recently started my own diary as well.

Just wanted to say hi and like you have a heap of ebay stuff to list and trying to not go to the supermarket unless I really must go, we have loads of food that needs using up as well x

hoglet121

Hi Welsh mummy!

Yep heaps to do around here and errrr I have spent this evening watching junk tv and drinking wine, very mse I don't think....!

Must get some more motivation! In better news I only needed to eat half my dinner and I'll have the rest at work tomorrow :-) Potato farls were excellent, I though they were a but soggy at first but DH loved them and said they tasted like shop bought, that's a compliment.... I guess???!!!

Tilly_MFW_in_6_YRS

Morning Hoglet, good luck with all your plans. It's a really supportive and inspiring forum and hopefully you'll get loads of ideas for cutting costs. Do you look at the OS forum for ways of reducing food costs?

Look forward to watching/reading your progress.

Best wishes, Tilly

hoglet121

Hi Tilly! And thanks, great to be here :-)

Yes I've been a big OS lurker for years - partly how I sorted out the financial mess years ago. Such wonderful tips and inspiration!

Food shop this week was 64 pounds, including 2 x wines and a bottle of beer for DH, so all in not bad at all. Had to pay a bill tonight and at the weekend I need to get a new car key cut.... Broke one in the lock on Monday morning - not a good start to the week! Other than that I'm hoping for a frugal weekend. Had another money chat with DH about getting rid of the mortgage and he said he'll leave it in my hands as I know what I'm doing.... I don't need telling twice! He wants to go fishing at the weekend so at least that's relatively cheap.