The slow but steady road .... 27 January 2016 at 10:33PM in Mortgage-Free Wannabe 26 replies 2.5K views

Maximum_Saving

Hello. Welcome to the forum. I am very impressed with your finances and the way you are keeping up paying your credit card. It was so sensible of you to get the zero percent credit card to be able to buy the carpet. I wish you luck with your shared ownership mortgage. I slightly overpay my mortgage and began doing that two years ago.

SueP19

MFWSouthCoastGal wrote: »

Hi Sue,
Thanks! I think I'm a bit obsessed already!
I've got a 2 year 0% credit loan on the carpets I had for my flat (it didn't come with any!) I'm not sure I've really put that in the right column, but yes I spread the cost of the carpets pay off £70 a month which will be paid off by August 2017.

No I understand, was just checking :T:T and go for it

Dan83

Hi,
I noticed you spend £130 on groceries, if you shop in asda, is it worth getting an asda credit card and getting 1% cash back providing you replay the bill in full every month, it's a little saving but a saving. We also have a prepay tesco card that save's 5%, you simply top the card up and spend in store, although we never shop in tesco, the option is there.

Great thread by the way.

MFWSouthCoastGal

Dan83 wrote: »

Hi,
I noticed you spend £130 on groceries, if you shop in asda, is it worth getting an asda credit card and getting 1% cash back providing you replay the bill in full every month, it's a little saving but a saving. We also have a prepay tesco card that save's 5%, you simply top the card up and spend in store, although we never shop in tesco, the option is there.

Great thread by the way.

Hi Dan,
Thanks so much for this. I've certainly not yet thought about how I could make more savings on my groceries. Unfortunately the nearest Asda is miles away, but I do shop in Tesco so I'll definitely have a look at the prepaid card. An Aldi is currently being built not far from me, I'm looking forward to that arriving!

MFWSouthCoastGal

Maximum_Saving wrote: »

Hello. Welcome to the forum. I am very impressed with your finances and the way you are keeping up paying your credit card. It was so sensible of you to get the zero percent credit card to be able to buy the carpet. I wish you luck with your shared ownership mortgage. I slightly overpay my mortgage and began doing that two years ago.

Thanks Maximum Saving. I'm trying to be pretty frugal at the moment that's for sure. I was actually offered a 0% loan direct from the carpet company, so I didn't need to take out a cc, but yes, it's been handy so I could keep my savings where they are.
Well done on your OPs!

MFWSouthCoastGal

It's pay day - time to move some money around! I'm set to make another £300 OP which will leave my account on the 1st along with everything else. January may be a gloomy month, but with no parties/birthdays/other celebrations this month, it's been relatively easy to stay on budget. A few get-togethers at home has meant not really spending anything on entertaining this month.


I'm also nearly at the end of my dry January and it was easier than I thought. BF and I are thinking we might continue into February and even if we don't cut it out altogether we've def both agreed that we'd be healthier without the couple of bottles of wine we were consuming each week. We'll save a few pennies too. I've also successfully managed 4 weeks back at work making myself a salad to take for lunch every day.


Looking forward to the weekend. I've cashed out some of my Maximiles points for two cinema vouchers. BF and I are finally going to see the new Star Wars, now it'll be less crowded and we can go for free!


February goals:
Complete job application - if selected it would mean a 9k pay rise
Try to cut down on sugar. BF is trying to cut out caffeine.
Keep trying to walk at least 13,000 steps a day.
Open linked account to mortgage so I can make spontaneous OPs, as well as the regular OP amount each month. This way I can easily drip feed in whatever I've managed not to spend at the end of each month.
Reduce spend on groceries if possible.

turtlemoose

ooh good luck on the job application, that'd be a nice increase! HAve you heard yet?

MFWSouthCoastGal

I thought I'd be better at keeping this diary, but February was a pretty intense month.

turtlemoose wrote: »

ooh good luck on the job application, that'd be a nice increase! HAve you heard yet?

Thanks turtlemoose, I applied and have an interview next week! Fingers crossed. I also applied and was interviewed for another job, which isn't so much of an increase but would be a good stepping stone. I've been offered it, and will take it if I don't get the one next week. Exciting new times ahead either way.

My other goals have definitely varied. I have opened a linked savings account to the mortgage so I can drip feed extra overpayments, and have started to do that. £80 that I didnt pay on council tax this month has gone straight to the mortgage, as well as the regular £300 OP. This month will be harder to OP as it's boyfriend's birthday and want to take him out for dinner + a night away with some girlfriends.

Other goals - doing well on steps, but have completely failed with cutting down on sugar ;-/ I've spent a bit less on groceries, but I hadn't been proactive in reducing costs.

Goals for March are around trying my hardest to get this new job, and researching for final uni assignment of the year.

March payments have brought mortgage down to £52,660, but I'm still part making overpayments from my savings which I don't want to do for much longer. I'd like to keep £6000 as my emergency fund.

Oh and it may still be chilly, but it's so nearly Spring!

mrsp1987

Sounds like you've got your head screwed on Southcoast.
I think it's very wise to keep your savings. I know it's tempting to keep overpaying and seeing your progress but savings are important - things can change drastically on a dime so it's better to have a backup than to not.

MFWSouthCoastGal

mrsp1987 wrote: »

Sounds like you've got your head screwed on Southcoast.
I think it's very wise to keep your savings. I know it's tempting to keep overpaying and seeing your progress but savings are important - things can change drastically on a dime so it's better to have a backup than to not.

Thanks mrsp1987. I'm going to have to revise my budget and OP plan now anyway. I didn't make it through to the second stage of the job that would have been a good payrise. Nevermind. I have accepted the other job, which is a step across, rather than a step up and will continue with my study, and hopefully something better paid will come along in time.