My MF Mission 2015

lippy1923

Payday number 1 today. Couldn't resist transferring something to my savings so moved £200. Whether or not I will need to dip into it for other payments I don't know yet. I still have some room on my 0% card for xmas shopping although I would like to try and not put any more on there.

Happy Friday everyone.

money_maker_2

I'm sure the exam went well Lippy.

Great job on emergency fund number 2. Nearly at 10k in Over Payments. I need to start OP my mortgage. Maybe something to think about for 2016.

lippy1923

Can't wait to reach the £10k milestone!

Don't delay it moneymaker. If you can start now, why not? You will soon become addicted like the rest of us.

lippy1923

Sorry for the long post! Just need to write stuff down and rant.

I'm feeling a bit twitchy of the high possibility of spending more money than I would like. With it being xmas and my son's birthday so close together... Finding it quite hard to think.

Had some unexpected expenditure this month already and really not been managing money well in general. Ignoring my EF1 as that's money earmarked for mortgage OP in 2017 and paying back a 0% CC , I only really have £1k in savings at the moment.

Black friday has got me already buying a few xmas presents and we are looking at new beds over the weekend, while the sales are still on. That's not going to be cheap if we get one, but I must admit we are in desperate need.

Top it all off, we have been planning a Vegas trip with some friends and it looks like now is the time everyone wants to book. Cheapest deals we can find mean looking to spend around £1k each :eek: that's not including spending money either!

I'm a nervous spender as it is. Always been a money hoarder.
I am 110% against dipping into EF1. I would be gutted if I had to as I've been saving it for years.

Not sure what to do with the trip. I only have 1 0% CC but I don't want to max it out. I could only really put another £1k on it anyway, so would still need to find another thousand. All my other cards are old, only using them for cashback/rewards but they need to be paid off each month in full.

I don't want to hinder my mortgage free mission, but I don't want to miss out on enjoyable things either lol. Greedy or what.

Need to have a long hard think.

shangaijimmy

therein lies the MF v live life balancing act. Cant really help other than to say your' in a strong position given your mindset to handle what you decide. You just need to stick with the thinking process and you'll get to see the 'wood for trees'!

lippy1923

Just had a thought. For big expenses like a bed, I wonder if you can get 0% interest free and pay back over a period of time, like with a sofa?
That would give me a break and help me find the cash I need for Vegas.

£46 interest/cashback from Santander paid today.
Now to look into gas and elecy. Is seems to be cheaper this time around. Maybe a good time to fix for a few years. Hopefully can find some savings somewhere.

lippy1923

1 more sleep till payday :j

It's quite funny at work. Most of the 20 somethings my age all get excited for payday to spend on eating out, booze and shopping. I keep my excitement secret because I'm excited to OP my mortgage more that anything else lol.

Am I crazy?

money_maker_2

You won't be feeling crazy when you're MF at a young age and they are still years away from paying theirs off.

Petal88

Hi lippy - regarding paying back a bed at 0% interest I just wanted to say that dfs certainly gives you that option on all their furniture and they sell beds too

Let me know if you find any others that do the same as I need to replace my bed due to a big slope it's got since one side collapsed

And don't worry - I'm in my 20s too and I'm always looking forward to pay day to see my savings increase

lippy1923

Thanks Money_Maker. That is my goal after all, be MF as soon as possible.

Hi Petal88 - Thanks for that. I will certainly have a look at DFS then. Got my sofa from them a few years back and liked the quality so a good place to start.