From Bad to Good and back again

Istartedontherighttrack

Happy weekend, MSErs!

Now that I have (finally) become a property owner, I am firmly back in the DFW category, as my parents have lent me money towards my stamp duty.

Anyway, I have got off to a good start to the year. This week, I took lunch to work 4 times and someone bought me lunch on the fifth day, so £25 saved. For next week, I managed to spend less than my weekly food budget and have bought enough food to include all my lunches, so my lunch budget can go on stuff for my flat. My food budget is pretty high for MSE standards, but it I enjoy cooking and eating. Also, I only buy fresh vegetables. I am not sure how some posters manage to spend so little and eat lots of fresh fruit and vegetables. Do they buy mostly frozen? I think I might start experimenting with the market soon.

I have also been making good use of my gym membership, as it is about the only entertainment I can afford.

I think last year, I must have wasted about £2,500, which is a horrible amount. The next three months are going to be a bit crap, but if I can keep up my current discipline, I should end up with a semi-furnished flat and a less wobbly body.

In addition to the goals in my last post, I realised I also need to build up my emergency fund. It's currently £400, and it should be £1,000, so I am aiming to put £50 a month into it, which should see it full by the end of the year, assuming no emergencies.

Sorry this is such boring reading. No wonder everyone is forced to write on here instead of telling their friends about it!

Istartedontherighttrack

I am having a mixed week so far. I have bought food for a week's worth of lunches for work, but went out for dinner and to listen to music on Monday, which pretty much cost the amount I saved on lunch. Still, I suppose it is positive. I am attempting to achieve some form of balance where I spend my money on positive things. Yesterday was a NSD, and today I had to stock up on milk.

Istartedontherighttrack

Evening MSErs.

So far I have managed one NSD. On Tuesday I went out to a leaving lunch and did a food shop, but managed to come in well under budget. Today I wasted £2 on treats to get me through the dreary afternoon, which wasn't really part of my plan. Oops.

Istartedontherighttrack

Evening MSErs,

Things are going more or less well. I have been making lunches, haven't been spending £2-3 a day on snacks to make the day go faster, doing more exercise, and lo and behold, I have lost 6kgs and with less than a week to payday, I had enough money to go out any enjoy myself this weekend.

Against this cheery background, Natwest increased the interest on my credit card 2% per annum (I don't carry a balance, so not too concerning) and then cut the interest rates on my savings accounts from 0.5% to 0.25% and then tried to get me to sign up for a paid for account. Are they deliberately trying to get rid of customers?

I also noticed that the delightful people at the Student Loans Company hadn't sent me a statement last year, so I wrote to them. They replied that they "did not have my repayment file", and asked me to send proof I had paid money from my salary. I am massively !!!!!!&d off about this. Student Loans Company regularly send me threatening letters telling me that they will fine me £150 if I do not return some form confirming that I have a job immediately, yet when the boot is on the other foot, and they are putting me to considerable time and effort, what happens? You don't even get a decent explanation. I might write to Martin. God help the current generation who are effectively taking out small mortgages with this organisation.

in_need_of_direction

6kg is amazing. Well done you.

Istartedontherighttrack

Afternoon MSErs!

Home ownership is proving to be an expensive right of passage. The more I buy, the more it seems I need. This is going to be a costly year. Taking my lunch to work is barely making a dent into things. Still, I am getting better at not wasting money, which is an improvement. Small steps and all that. I don't think I am going to be one of those people who manages to retire at a young age unless something drastic happens.

chevalier

Well done for keeping going even if it is baby steps. However I feel that your lightbulb is glowing a bit dimly at the moment. Perhaps if you did a Statement of Affairs it would drive home for you how much money you are wasting, and where you could make fairly painless savings.

Here is the link
http://www.stoozing.com/calculator/soa.php


Having a proper budget is even more important as you are now a home owner. You also have the chance moving into a new property to ensure you are getting the best deal on all utilities and insurances, so that side of things is a financially small as possible.


If you need work clothes then by all means look in charity shops, just do it in the posh areas - you can often find things still in their packaging there.



I don't think you ever totalled up your spending diary. Did you do it for yourself even? Unless you know the full truth you are still in denial a bit?



Whilst I don't use it myself (wrong country), I have heard very positive things about You Need A Budget (YNAB) application as a means of setting a budget and then keeping to it.


Good luck
chev

Istartedontherighttrack

Afternoon MSErs!

Thank you for your message, OP. My spending isn't out of control; I am just conscious I spend more than I could. I don't have any debt, other than my mortgage and student loan, but I feel like I should be saving more and wasting less. This week, for example, I downgraded a supermarket, but went a bit mad with all the extra choice and stocked up on things my usual supermarket doesn't sell and ended up exceeding my usual budget. It is all stuff which will keep for months, but this is typical of my usual lack of discipline.

I managed to replace my work clothes. I saved up for months, so I can be disciplined when I have to be. My insurance was pretty cheap, and I paid it up front. My electricity is reasonably competitive. My tv, phone and broadband package is not too bad either. I also budget for annual expenditure, so perhaps I am just being a little too hard on myself? I do need to live and enjoy myself as well as saving money.

Istartedontherighttrack

Evening MSErs!

I have finally got my £50 prepaid MasterCard for signing up for BT broadband. I expected that you would just be sent it with the router, but no, it took a four month wait after lots of chasing. Still, £50 is not to be sniffed at.

Making my flat feel homely instead of like a giant student room is proving to be costly. I have taken out a reward credit card (to be paid off each month) for all my purchases, so I get vouchers, to buy more stuff with. I get quite envious when I read about MSErs selling stuff on online auction sites. I haven't yet got everything I need, as I am trying to do it without incurring debt.

More tales from the tedious path to financial stability next week.

Istartedontherighttrack

Evening MSErs,

I have reverted to my bad ways. I have regained 3 of my 6 lost kilos, and spent the last weekend before payday penniless, even though I have done nothing this month. Worse still, I have overspent, and eaten into my savings. In an attempt to return to better habits, I have spent the weekend batch cooking healthy food, been to the gym three times, and bought a spending diary.

On that cheery note, I shall go and polish my shoes before another week begins.