MFW - money, life and freedom

elle37

Ok my savings plan for part 1 of my challenge:

August - £367 (Includes what would have been spent on ctax £97 and £20 while gym membership is on freeze, should be cancelled by next month giving me £30 extra)
September- £810.35 (includes Ctax refund £223.35)
October-£717
November£717
December£772
Jan £822

Total £4,205.35

elle37

Third day back to work (groan) but i'm reminded of my target so that keeps me motivated.
Cancelling LA fitness membership proving more challenging than i'd thought but i'll press on, I now have to pay £20 for a medical certificate.

Question for those who are on the journey to Mortgage free or already mortgage free. I am deciding where to move, I have three approaches as I see it:

1) sell then buy around the same price thus not increasing my debt- probably a small ish property but freehold which is what I need to move to as im currently leasehold.
2) buy in a more desirable area but will have to increase my debt- have two areas that i'm thinking of, more space and pleasant area close to transport.
3)buy in a less desirable area and be significantly closer to my mortgage free target - two areas i'm thinking of, decent size properties but not great reputations, transportation not great either, could improve in time.

What would a MFW's approach to this be? any thoughts welcome

elle37

At the end of this week I'm very pleased with progress made on this journey
May seem small but for me doing small things consistently will make the difference!

1) this is weird one and may read pathetic but switched my usual Friday green and blacks chocolate at £2 for an Aldi chochloate still £1.19 which was lovely( every penny counts right!)
2) packed lunch for work every day
3) almost completed sons room, started putting bed together, room should hopefully be completed today.
4) re visited my love for minimalism and read some articles from my favourite blog becoming minimalist this is great inspiration that less really is more. My son commented yesterday how much he has enjoyed our summer of DIY, he said he's found it relaxing, rewarding and great just spending time. How amazing and it cost nothing ( give or take some materials)
5) I've been posting on the buyers sellers forum to get some ideas about my step 2 (the move) if I am to get closer to my goal I need to really think about where I move and how it affects my goal to be mortgage free. Interestingly it's made me think more about other income streams, more debt in the short term but long term gains.
6) maintained my budget app
7) have sainsurys reward card
8) 2 birthday gifts each bought for under £5 but fantastic gifts
9) car timing belt replaced. Big expense

I'd reflect that the time spent last week organising my budget was well worth it. I know what I have in each account, what card I can use for what purchase and my piggy banks are a great time saver.

I'd also reflect that I haven't allocated enough for travel and going out, although the latter is a matter of me saying no and being more selective to invitations which is so hard!!!!

sarahevie1

I'm quite selective with invitations, but trying to live a bit more too, so decided to say yes a bit more. It's about living as well, there's always going out cheaply:)

elle37

sarahevie1 wrote: »

I'm quite selective with invitations, but trying to live a bit more too, so decided to say yes a bit more. It's about living as well, there's always going out cheaply:)

Thanks Saraevie, nice to know I'm not alone in that, Yes I agee I won't get through this if I say no all the time, I've substituted large soya hot chocolates with good old herbal teas which is healthier and cheaper plus I get to sit and have a good chat with friends. Think I just need to be honest with friends and I know they will totally understand

Thistlewhistle

Hi elle37:hello:

Good luck with your endeavours!
It looks like the MFW bug has well and truly got you!
I'm amazed at how much you got done the other week - if you're free, you can come and do my house too!! :rotfl:

Thistle:)

elle37

Thistlewhistle wrote: »

Hi elle37:hello:

Good luck with your endeavours!
It looks like the MFW bug has well and truly got you!
I'm amazed at how much you got done the other week - if you're free, you can come and do my house too!! :rotfl:

Thistle:)

Lol Thistlewhistle, yes I'm def on a crazy one, it's so nice to have a focus and get things done, I've been taking photos of my son doing DIY so it's really nice. We just finished his room this eve so i'm now chilling out! I'm determined to sell my property via an online agent to save money so it's a good way to get to know it's inside and out.

elle37

Update on quest to get things moving!

1. finally left LA fitness, it's ridiculous how long it has taken. After realising that I pay a monthly direct debit but don't attend due to medical needs i though cancellation would be straight forward, oh no, i've had to pay my GP £15 pound to get a doctors letter! they tried to extend payment another month but after I pointed out that the delay was caused by them not making it clear they needed a PDF rather than a scanned letter, they realised and cancelled. So since trying to leave the total paid is £25. 15 for doctors not and £10 reduced fee while sorting out cancellation. Good ridden if they treat customers that way. I've been doing Yoga when i can and walking.

2. Contact lenses cancelled, glasses are going don well at work, to be honest not sure why I didn't do this sooner.

3. Handy man in to fix the minor things at home,Sons room complete so house is market ready at this point, hoping to go on the market in Feb.

4. budgeting for work clothes has been really challenging, any tips welcome. I did get a dress for £2.20, bargain, As i'm a working towards minimalist, i've gone for a systematic wardrobe of mixing and matching a few items.

5. haven't factored the cost of travel to open days for my Sons uni choices, so far £70 so I need to re balance the books to include that, the savings on the Gym and contact lenses for two months should cover that.

6. my budget doesn't cover the cost of travelling, i've needed to spend at least an extra £10 in travel so will amend my budget

How to people manage the temptation to spend more when they can afford to spend more?

Monkeychops16

elle37 wrote: »

Update on quest to get things moving!



4. budgeting for work clothes has been really challenging, any tips welcome. I did get a dress for £2.20, bargain, As i'm a working towards minimalist, i've gone for a systematic wardrobe of mixing and matching a few items.


How to people manage the temptation to spend more when they can afford to spend more?

I need help with both these things-will be watching for advice :-)

elle37

Monkeychops, I've started looking at lots of minimalist blogs which have been really helpful, check out the 333 project couldn't believe some people have 10 items for work including footwear! it seems key is sticking to a few main colours so you can mix and match,also if buying from the charity shop don't look as worn.

I have a black dress, red dress, black skirt, black trousers, two cream blouses, a black blazer, grey blazer and black cardigan. I use different coloured accessories for accents. So far it's been ok, I've been able to plan in advance and as I have few clothes it actually has saved time in the morning. I do need to get a winter jacket and boots which is most concerning me as they tend to cost more for decent quality, i'd like to get a good two years out of them!!