A Journey of Many Pounds Starts With a Single Penny

LadyGnome

Thank you for stopping by PurpleFairy
I am very excited about the mortgage starting with 1 soon. It’s incredible that I will have moved from a 3 to a 1.

Not much to report this week. I am WFH but will have to wait a month for my first pay. I started part way through a month so it won’t cover all of the costs but I have a savings buffer for that. 

LadyGnome

I am in a bit of a holding pattern until my pay starts to come through. I have some cashback tracking so that will give me something to play with. 

I have been doing some thinking  
Our other big expense apart from the mortgage is school fees but one child finishes next year and the other in 2025. I assume they will need some funding for Uni. 

If I stick to my cunning plan the mortgage will end in 2027 (I will be 58 and Mr G 62). 

Our rental income would cover our basic living expenses once the mortgage and school fees are gone.  I wouldn’t want to be wholly reliant on that but it’s good to know. 

As you might have gathered from this diary I like saving pots and mini goals, so here goes...
(Based on our current circumstances we will need to make a parental contribution to the student loans.)
Goal 1
Finish saving for DS1’s university top up - £1480.77
Goal 2
Mortgage below £200 000
Goal 3
Invest £300 in Stocks and Shares ISA (as the market is down I am using an investment goal not a value goal)
Goal 4
School Fees buffer to £1000 -£464.11
Goal 5
Save £500 in DS2 Uni top up fund - £500

The way I plan to do this I focus on Goal 1 first as that is the closest deadline. Once I have finished that (hopefully in the next couple of months due to school fee reductions due to COVID 19) then I will focus on the other goals. I will continue to make my standard cunning plan mortgage OP but all other spare cash will be split 4 ways between Goals 2-5.

Now I have written it here I am committed to doing it!!

LadyGnome

A few bits and pieces of cash back have arrived so £18.67 into the Goal 1 pot. 

I will do the full money shuffle over the weekend and update the goals.   Based on the reductions in the school fees Goal 1 will be done by the beginning of June. 

LadyGnome

Yesterday was a mixture of MSE and slightly less MSE!
I planted out the last of the fruit & veg seedlings. So we now have lettuce, tomatoes, cue, spring onions, broccoli, sweet corn, spinach, beans, melons, raspberries, figs, apples, pears, blueberries, strawberries, garlic, mint, parsley, thyme, coriander, basil, Thai basil & oregano. We don’t grow huge amounts as we don’t have a massive garden. It’s fun & the food is so fresh.  I have been using the last of our frozen raspberries in lockdown. 

Now for the not so MSE bit     

I may have gone on to a gardening website and bought 3 different citrus trees for the patio...and some peppers and chillis...and an artichoke plant...and some mushroom growing kits...and a rosemary plant. 

I am seeing them as an investment (that’s my story and I am sticking to it)

PurpleFairy26

Lovely to have such a variety of plants LG. It'll be amazing when they all start producing. We live near a place that has loads of fruit and nut trees that you can help yourself to. It's normally difficult to pick anything (apart from blackberries as there are just loads) as it's highly populated but due to current situation only a few residents remain in that area so I'm hoping for a few decent hauls this year. 

LadyGnome

That sounds wonderful PurpleFairy.  There is something so satisfying about picking fruit and veg.  We pick blackberries too. I made a blackberry and raspberry sorbet last year that was lovely. 

PurpleFairy26

We went up there today for our walk and I found a cherry tree with lots of fruit on it! Fingers crossed I can get there at the right time before the birds 🤣

LadyGnome

April Goal Update
Goal 1
Finish saving for DS1’s university top up - £53.67/£1480.77
Goal 2
Mortgage below £200 000 - £2413
Goal 3
Invest £300 in Stocks and Shares ISA (as the market is down I am using an investment goal not a value goal) -£10/£300
Goal 4
School Fees buffer to £1000 - £10/£464.11
Goal 5
Save £500 in DS2 Uni top up fund - £10/£500

I put a small amount into goals 3-5 just to make a bit of progress whilst I focus on goal 1. Next month will be similar and hopefully by June goal 1 will be done and I can focus on the others. 

LadyGnome

Good luck with the cherry tree. I reckon you have a window of about 10 mins before the birds strip it. 

LadyGnome

The first of my plants arrived a beautiful rosemary plant. It smells fantastic. I will plant it out later.  I have about £50 of cash back coming through which will give some progress in the waiting to be paid doldrums. 

I should get paid in the next week (I am freelance but on a contract). It’s only a part month as I started in March. The money will go into my income buffer. As a contractor it is particularly important I can bridge gaps between finishing one contract and starting the next.  I have already funded this months bills out of the buffer. I will keep topping it up as it is good to have the breathing space.  It’s a bit like YNAB’s living off last month’s money as the timing of my bills is linked to my old salary date so I will drawdown from the buffer then repay each month (bills go out before income comes in).