Time to start a new_life

new_life

So I am a long time lurker of this forum; but this is the year I start and tracking it here can only help keep me motivated.


About me: I’m mid 30’s, married, no kids, two dogs. Moving and changing jobs has wiped out any saving. No excuses, we have been spending, eating crap and generally drinking too much


Finances:


Mortgage One £108,000 – 2.5% - 19 years Monthly £590.59(OP to date £10.90)


Mortgage Two £92,136 – 3.79% - 19 years Monthly £579.73 (OP to date £1978.16)


Credit Card 1 £4,263 0% until March 2017


Credit Card 2 £4,460 0% until March 2017





Household DD £453.78


Fuel Per Month £160


Food Budget £350


Personal Spend (£150 each) £300


To clear CCs £300


Live a little/clothing £300





Savings:


Emergency Fund £2,109 Target £3,000


ShareSave £60 per month


Vouchers (direct from pay for xmas) £0 Target £550


Saving for annual bills £0 Target £3,500


House Do Up Fund £1,049.82 Target £6,000


Holiday Fund £0 Target £1,500


OP £0 Target £3,000





In theory if we stick to the Food and Personal Spend budget we should have c£2,000 to add to saving each month. It feels like I have made a mistake with my calculations – cannot believe we have been throwing this money away each month!





I’ve rejigged the DDs and I think I still have a bit more to trim there but have to wait to tomorrow to sort. I’ve also moved some monies around this month, mortgage has gone today and this month I have around £600 to go to savings





The “House Do Up Fund” is to repair some brick work c£1000 and then to get need boiler and electrical works. Then I will reset for the next bit of the projects. The OP money will be put into a saving account and then next pay day this will be moved to the mortgage (#2) and start again (a bit nervous that I made a mistake on the calculations).





Saving Plan: Feb in Red, Black from March


Emergency Fund £2,109 Target £3,000 - £0 £250 (for next 4 months)


Saving for annual bills £0 Target £3,500 £300 £290 (this may get revised down as I may pay house and car insurance in instalments)


House Do Up Fund £1,049.82 Target £6,000 - £0 £500


Holiday Fund £0 Target £1,500 - £0 £250


OP £0 Target £3,000 -£300 £300





Will draw personal spends and food budget out in cash and only use cash! Will take pack lunch daily, will have a minimum of 4 no alcohol days a week and will try not to spend the “live a little” budget, although just finished moving money around when OH piped up that he’s going to buy a new coat!! (he does need it)





Sorry for the ridiculously long post, but feels good to get in down in writing!