MF in 10 - no ifs buts or maybes

Maybe_its_because

This week's highlights
£500 OP
3 NSDs
Only spent £50 on the weekly shop - £15 of that was on nappies
Set up DDs new savings account
Haven't spent a single penny from my pocket money
DD joined the local library
Need to return baby gates - wrong size so £45 refund to collect

Things we need to spend on next week!
Fire guards and baby proofing
The (right size) baby gates
DDs birthday party & cake (cheap and cheerful)
MOT booked in for weds but will pay out of car account

MSE week last week - not so cheap next week :-(

Maybe_its_because

The weeks highlights and lowlights ...

MOT passed 1st time
Weekly shop came under budget
TCB paid out £120


No NSDs (work spends but will claim back)
Oven cost £100 to fix but at least we can start eating from the freezer
Had guests at the weekend and forgot to buy enough food to feed them. Fed them using Monday and Tuesdays planned meals ;-)

Was hoping to work an extra day this week but LO is ill so might try to stay home with her.
Hoping to find another OP before the end of the month
Bought DDs bday cake, just the (cheap) party bags to make

x

getmore4less

£222k over 10 years

paying £1600, regular £1100+£500op fails the interest free reality check test.
rate....10y.....11y
0% £1850..£1682
3% £2144..£1977

Even with the regular £500pm overpayment you are £500pm short, is that realistic on top of the regular £500?

Maybe_its_because

Hi Get more for less

Thanks for looking into this, and agree the £500 OP is not going to reach the 10 yr MFW goal alone.

The £1100 + £500 is only a temporary arrangement at the mo.

• I work PT, plan to increase my hours once DD goes to school (2017)
• OH has just been promoted to a higher payscale so will received 3% annual increments
• currently paying my parents £300 a month for a BoM&D loan.will divert to the mortgage when paid off (2018).
• £10K of ISAs tied up in a decent 3 year rate. Once they mature (2016) that'll be thrown at the mortgage.

I've tracked these into the MFW spreadsheet and should all help reaching the 10 year plan. That, and a bit of luck with a good wind behind us ;-)

Cheers, MIB

SavingRaven

Sounds like you have things sorted and an achievable target in your sights MIB. I have been playing round with the spreadsheets and you're right, they are addictive. Think OH is getting sick of me talking about it so glad I can come on here with all you other money geeks!

Hope you're having an MSE day!
SR

Maybe_its_because

Thanks SR

Just finished tidying up after DDs bday party. Messy but worth having it at home to a) keep the numbers down as DD isn't great in crowds and b) didn't have to pay some overinflated booking fee for a room hire somewhere. Pretty much kept to budget although probably went OTT on balloons but hey ho. She's one happy little girl so it's worth it.

Did the weekly shop early and used a £5 off voucher from mum and the cashier used my points card to swipe the shopping of the lady in front of me Also got 10% cash back on the debit card for shopping in that supermarket.... Yey
Spent less than usual due to lots of meals on the Mealplan being from the freezer, hope there's not much topping up to do during the week...
Hoping for at least one NSD this weekend and two during the week.

Claimed my work expenses back - £50 - so hoping to fling that at the mortgage when it lands in the account.

MIB

SavingRaven

Sounds like a productive and exhausting week with the party! Well done on all the savings too - nothing like getting someone's supermarket points for free!

Hope you're managing to relax today
SR

Maybe_its_because

Thanks SR. Hope you had a productive & MSE weekend.

A very relaxing day for us. We treat ourselves to a Toby carvery... Moreorless cheaper than doing it yourself MUCH easier than cooking Sunday lunch yourself (and no washing up).

So not a NSD today but did have one yesterday

Payday next Friday - not much left (but enough) in the joint account and surprisingly plenty in my pocket money account. My no-buying-food-at-work plan seems to be working. Hopefully will keep that up for this week

MIB

SavingRaven

Well done on the NSD and having cash left this close to pay day - I am counting the hours down til my invoices are paid! Good luck remembering your lunch this week, amazing the amount of cash it saves.

SR

streethack

Ten years is a great goal. I to have set my sites on mortgage freedom when my little ones start secondary school. Best of luck.