Forever home fund (Take 2)

edited 15 October 2014 at 7:51PM in Mortgage-Free Wannabe
91 replies 7.8K views


  • hi thanks for stopping by ..

    i'm studying health sciences. (degree) really looking forward to it.

    baby is asleep. ds1 has just had a bath so im going to grab a cuppa and find my new 'frugal' budget that starts tomorrow for us so I can update you all. :)
    200 weeks £25,000.00 / £700
  • hi all. sorry i havent posted lately been so busy what with family life and studying, i will try and update more later it just seems to be non stop.

    we are trying to be as careful as possible but things keep cropping up like un expected school expenses .. DP's exhaust has had its day ! :( its just never ending

    will update more later off for a bath x
    200 weeks £25,000.00 / £700
  • Good luck on your journey, wish I had such a wise head in my 20's, it would have saved many sleepless nights and money troubles later in life.

    Hope the studies are going well

    I'll keep dropping in to see how you are doing

    back to comping :beer:
  • hi everyone,
    having such a rubbish day. been crying for the last hour. im so frustrated. ive been trying to save up for a while. with no luck. things keep cropping up all the time we are just in a vicious circle. i dont know what to do. our debts arnt massive but our savings are empty

    i hope this feeling will pass and we can clear the debt early next year still. im going to take some paracetamol and try and get baby down for a nap as ive decided to split any repayments 50/50
    50% in savings
    50% on debt
    and try and post daily to keep me focussed.
    ive cleared £2000 in 5 months in the past and our income hasnt changed altho we have added a baby since then but he doesnt cost much. are we just going through a bad patch ?
    i cant even reduce out direct debits as we are tied into contracts

    will update with a summery asap and a action plan
    if anyone has any tips it would be much appreciated
    we have so many plans but without savings none of it is possible :( we try so hard to change things to better our families future and tbh i ask myself sometimes why im bothering

    i know so many others like us but they are not working at all and they are always spending money then theres me scrimping cutting costs as much as possible and we still struggle

    sorry everyone ... feeling sorry for myself

    gonna have a cuppa and 5 miniutes to take a deep breathe and hopefully i can shake this feeling off

    and i promise i will be back.... i keep saying that and then get distracted but this time i will be back
    200 weeks £25,000.00 / £700
  • quick income and outgoings update

    income 4 weekly £1446 after rent and council tax
    outgoings (realistic but tight) £640

    difference before debt repayments £806 - this has just shocked me massively
    i knew there was a difference but didnt realise it was this amount every 4 weeks

    i am going to post daily with every spend / amount saved / debt repayments update and see where we are at the beginning of October.
    200 weeks £25,000.00 / £700
  • as regards to debt ....

    credit card £1000
    catalogue (see below)
    £292 interest free period ends 7/11/14
    £175 interest free period ends 2/06/15

    savings is a big fat £0 :(

    all of the above needs to change the sooner the better
    200 weeks £25,000.00 / £700
  • 5 financial things of the day :
    1. listed some stuff for sale - no sales yet
    2. other than DP buying the extras me needed to fit his exhaust and paying the bills is been a no spend day - or low spend day
    3. i have wrote out a clear budget and found a book to keep track of any expenses
    4. i have managed to get the boys a bunk bed like we wanted with delivery for £50 preloved instead of the £400+ they are at RRP
    granted this isnt needed yet but its the one we want and its the lowest price ive come across
    5. ive recieved a ppi application pack - thinking of filling it out just incase ... you never know

    *toddles off to find painkillers*
    200 weeks £25,000.00 / £700
  • Watty1Watty1 Forumite
    3.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Sorry you are feeling so blue. Sometimes this financial control thing can be tough. Goodness knows I've had my moments along the way but hats off to you for starting young. Wish I had done so, but, hey we are where we are and those folk around you are spending, well, they are just spending their way into problems, that's the way I look at it anyway :)
    That's a fair bit of a difference between outgoings and income. Cool. You should get on track quickly once you have a clear picture.
    Would you feel better if you had a savings cushion? I couldn't have overpaid without a safety net of savings. I think of it as our 'emergency fund' and it really does help me feel safe. That's just me though.
    We all find our own way :) Hope the painkillers have done the trick.
    Made it to mortgage free but what a muddle that became

    In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!
  • hi thankyou so much for your reply

    yes definatly having an emergency pot is first on the agenda

    its because we dont have a 'safety net' that the debt keeps creaping up. with this difference in income and outgoings the debt could be cleared in 2 months with december left for xmas but im going to give it till new year and try and get some in savings too anf re evaluate after that

    need to pick up my LO from school soon so will update you all again later after a good chat to DP later :)
    200 weeks £25,000.00 / £700
  • GoldiegirlGoldiegirl Forumite
    8.8K Posts
    Ninth Anniversary 1,000 Posts Rampant Recycler Hung up my suit!
    Hi there.

    I remember when I first started out, just when we thought we were going to be able to save some money, something would always break down / explode/ crop up. It was very frustrating.

    But you are clearly giving thought to your financial situation, so you are doing the right thing.

    Good luck on your quest
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
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