Hope is not an Effective Financial Strategy

shangaijimmy

Thanks all. We're doing really well and have managed to negotiate new baby and SMP better than i thought. Hit a snag this weekend though as both baby SJ and DS1 have literally outgrown all their clothes in a week!!

MB is a great little hobby for the weekend and now i've settled into a routine i reckon i'm making about £40-50 a week.Trouble is i don't want to spend it!!

shangaijimmy

New month, family back to normal with kids at school and Mrs SJ back at work, new intentions and renewed enthusiasm for MFW... There i've said it, lets see if i back it up.

Started the month off with a £5.88 OP which is the weekly TT pot. I also have £5 in my change jar to cash in at work tomorrow so i can OP from bank account.

Our savings have taken a serious hit with new furniture and holiday (19 sleeps away), so my current account interests will naturally reduce. That cash was always earmarked for these things so despite my hatred of spending i cant complain!

DS2 has settled in superbly at school. Considering he's an August child we were expecting some difficulties and for him to get tired by middle of the week but no... He charges in saying morning to everyone, and then i still have to spend at least 2 hours outside on bikes/scooters on a Thursday and Friday evening! I dread the cold, wet nights for him as he's gonna struggle being contained.

It also seems never ending the supply of kids clothes into the ebay bag(s). And i have another dozen items to list this next week or so (golf will get in the way tonight!), to go along with the 48 items still on the relist merry go round.

Looking at post 1 i need to start thinking about some new targets. My end of 2016 target is still comfortably achievable. I did think this was a very challenging one when i set it, which shows the amount of lifestyle change we can make and stick to. We are due for remortgage in Jan/Feb, so i'll have to set next targets in line with the % we can get (a quick look suggests about 1.74% for 2 yrs with existing provider of FD).

lippy1923

I know the feeling. Having savings earmarked for something specific but when it comes to actually spending it you feel that twinge of annoyance lol

A_Frayed_Knot

Good rate with your existing provider may be some better, but is it worth all the hassle. I can't find anything better than 2.4% for me, and I'm at 1.79% just now.

atypicalblonde

SJ what are the ages of the boys clothes you are listing? DS is 2 and a half, I am always looking out for things for him to grow into, we resist buying new as much as possible..... if you would be so kind as to PM me your ebay user name I would appreciate it xx

PrincessLou

SJ, have you considered listing the children's clothes in bundles instead of individually? I have sold quite a few bundles this way in the past. Take good pictures and put a fixed price buy-it-now. It saves a lot of time.

shangaijimmy

We have a selection of bundles and singles depending on what they are. ATB i'll try and post a link.... see if this works. We'll be listing more things in the next week as well. Most of the recent stuff sold was baby girl 0-3 and 3-6 months, plus some boys at 2-3 and 3-4. Golf wins for tonight remember!

http://www.ebay.co.uk/sch/jodie27_1981/m.html?_nkw=&_armrs=1&_ipg=&_from=

shangaijimmy

My small change jar was £10!! Quickly dispatched to mortgage this morning. Only 1 item sold yesterday, which i'm a tad disappointed with given success of last 3 weeks! But £3.50 profit and another item out the house!

version2014

lippy1923 wrote: »

Good Luck

You have a similar goal to me. Pay off in 10 years. I still have 20 years remaining on my mortgage at present, so to half it would be amazing. This can only be achieved if we stay in our current home and not upsize though. I'm still not sure if I want to stay in our house that long, but the idea of paying it all off early and being MF is making me think otherwise.

Will be watching this thread with interest to see how you get along. Have you got ideas on how you are going to save the money to overpay?

Lippy

@lippy whats the emergancy fund ???

debtfreeoneday

SJ you are the fleabay guru... nice to see you back good and proper!