The 2 Year Freedom Plan & 2015 Beat The Budget Challenge

roomontheend

Do you prefer to pay a little to each pot than to pay all to to one pot until you reach that particular goal. I am finding it better to pay all extra into paying off one credit card at a time. Starting with the highest interest first. For me this is keeping me the most focused.

I_want_a_baby

HELP!


I need to find my focus again, I NEED to get back on track.


Our family car has had one thing after the other wrong with it and with an air bag, coolant problem and horn to fix before the MOT in two weeks and with car tax due this month too we have decided to P/ex it in against a better car.


Determined not to use credit we have raided our debt savings and emergency pot to make the value including p/ex up to £4000 to hopefully get a decent people carrier with reasonable mileage and full service history. We live in a rural area and rely on having a car each for work commute and school runs as well as food shop etc, none are in walking or biking distance.


So I hope we have made the right decision.


However our debt savings now stand at £1 and our emergency pot which I would like to be a minimum of £1000 is now £240.


Oh and there is a leak at the house we rent out and we have had to call out a plumber who is coming tomorrow as my husband cant fix it himself.


I have to get back on track and build our savings up pronto!


Please point me in the direction of any inspiring diaries and motivating reads. I just feel a bit despondent at the moment as I hate spending money on cars but I know it is the right thing to do.


IWAB x


Emergency Pot £240/£1000
Debt Savings £1/£1000 (first target)

I_want_a_baby

Since I have written the last post I have been giving myself a really hard time for our savings being so low. We needed the car and I don't regret buying it but since our son was born 12 weeks ago things have really slipped and I need to get back on track.


The aim is to go back to cash so I can keep a handle on things.


I have £40 to last until 29th for food, and I have a budgeted day out which is on fathers day and using money we were given at easter ( and saved it especially to pay for this day out).


So the plan is to stick to cash only until 29th - only £40 for food.


Then for July again stick to a cash only budget - this should also dry up the ebay purchases!


Current Position:


Emergency Pot £321.37/£1000 (32%)
Debt Savings £28.85/£1000 (first target)


Must also check vouchers & loyalty card points & write a stock cupboard list for food, cleaning products and toilertries.


Also going to start reading a few threads on here each day (rather than facebook) to keep me focused!.


Onwards & Upwards :-)


IWAB x

Bobarella

Hi there
You have had a set back it's true, but you still bought your new car with your own funds not debt. And it sounds like you are doing all you can to get things back on an even Keele.
It's nice to read your update. Why don't you come back and join us on the small things thread? Might help with motivation.
Hope your new baby is doing really well.
Bob

I_want_a_baby

Thank you Bobarella!
I have been reading the small things thread since you posted and it's helping, I will try to post when I can but with a new baby it's not always easy.
However small steps are being taken and I'm moving upwards albeit slowing and with a few slips here and there!
So far I have established not just how much I need to pay off but also when by so I have a date to "beat". Aiming to have emergency pot saved by 31st July by being extremely frugal and then debt paid off by 31st December 2016. I need a strict month to get us back on track.
As such any spends from now will be in cash. Any online spends or card spends will only be allowed if I check spreadsheet first and ensure there is enough money rather than spending and checking later.
I am sticking to my meal plan this week and I will be shopping from stores and using up as much as possible before the next shop.
I have relisted something's I had for sale and made £10 today already, I started a savings tin on Saturday and I already have £24.10 in it so really pleased so far!

Bobarella

Brilliant! It's great when side hustles bring in a decent amount isn't it. You are doing a great job especially with a little person to contend with. Don't worry about posting if you haven't got time.

I_want_a_baby

So in all a good day.

Husband helping sister move house, we have spent the day at home and I've got a few 'jobs' done.

It's been a NSD!

Food from stores, we have run out of squash, have just a few slices of bread left and a few other bits are low too. I'm aiming to eek us out until Monday when I'll go shopping and stick to a list of essentials only. I Know we have some bread rolls in the freezer so it's not too bad.

I've been sorting out more cupboards and drawers and added more items to the selling pile (it's huge!). Organising in the process and helping me to be more aware of what we have (and therefore what we don't need to buy more of!)

Nothing major happened today but I feel a shift towards my good habits returning :-)

IWAB x

roomontheend

I to am going though food cupboards and seeing what I can make. I make corned beef hash yesterday. Although the males complained it needed more meet. Phfff, that's because I packed it out with more potatoes. I have also been making a lot of jam from fruit I had in the freeze. However I'm not sticking to my menu plan as well as I could. But you are doing super.

I_want_a_baby

Thanks boberella and Roomontheend

So just as you feel you are getting back on track life kicks you back down the ladder!

Payday was the 30th, I decided to be really strict with out monthly budget in order to save as much as possible back into emergency savings.

This resulted in the emergency pot raising up to £725.

Hen just two days later (last night) our American fridge freezer died. It was very old and given to us, changing a fuse didn't work and reading online the cost of repair would be a lot without guarantees it would work.

So we bit the bullet (again) and paid out for a new one which will be delivered tomorrow. We can't be without a fridge. We managed to put all out freezer food in a spare freezer so no food at present has been lost. I've put some bottles of water in the freezer which I will transfer to the fridge this afternoon in an effort to keep the contents cool.

So this means the emergency pot will go back down to £159 plus we are still waiting for the plumbers bill.

What doesn't break you makes you stronger!

We remembered to go through cashback which should yield £55 - when this is recieved it will go straight to emergency savings.

We also underspent on hubby's birthday so I was able to put £10 in the tin.

I have to get our emergency pot back up to at least £500 I hate not having a buffer.

Things I have done already -
grabbed a basket and put as many things in it for summer holidays (unopened bubbles, crafts we bought but have not done, a few DVDs we bought 2nd hand but have not watched yet etc).
Doing my upmost to ensure we don't loose any food due to no fridge.

Frugal plans for this weekend are:
Fridge/freezer list (as reload new one)
Use it up list for things from food cupboard
Meal plan - as many meals as possible.
Shopping list of next weeks food - as small as poss and anything left to go in tin.
Update banks/budgets & plan any spends for month now so no more surprises.
See if any small savings can be made from any 'pots' on spreadsheet.
Toiletries list
Cleaning product list
Ebay - list at least 25 items - need to make some money pronto!
Free frugal fun all weekend with the kids

Right I had better get started now, with three children to look after (one at school) it's hard to get things done but needs must!

IWAB x

Bobarella

Hello IWAB
Sorry to hear about your fridge what a pain. At least you did have the buffer in place to go ahead and buy a nice new one.
Bob