New Grad DFW

ab_saver

So... a reasonable amount seems to have happened in the past 3 days.

3 more NSDs :A

And in no particular order:

1. I got a letter to say I overpaid tax in the 2015-16 tax year and am owed £19.20
That'll go in the main account for the time being, but once I'm safely back in credit I'd like to transfer that amount to my emergency fund (as it's unexpected money ) *makes mental note* (this is in addition to ~£500 from this financial year to go back via my payslips)

2. I've arranged to meet the independent financial advisor next week :eek:
It's ironic given I don't really have money for them to advise me on (yet). I'm not going to agree to anything there and then, and need to write down my questions for them so I don't forget!! Any moneysavers out there with any tips (particularly re income protection) do let me know.

3. Budget-wise I'm going ok at the moment. At the weekend I have to post one friend's birthday present, and sort out a secret santa style gift for another friend (ex housemates doing surprise care parcels!) The gifts/Christmas budget has been well and truly busted this month, but that budget will go down next month to compensate...

4. With extreme caution, my night before payday balance might be somewhere in the region it was the night before the last payday. I can usually get my payslips a bit early online so I'm wondering if I'll be able to access mine before I go on holiday. It'd certainly put me in a cheerier mood, and assuage some of my guilt about the inevitable holiday spends.

5. Feeling a bit gloomy about all the in-credit interest being cut on most of the accounts. I had a really solid plan in place for what I wanted to do with my money once it was mine rather than the bank's, and now that's in flux a bit. I guess I'll have to wait and see how the situation unfolds. (on the plus side, low interest rates would be handy for when we have a mortgage!)

6. In that vein, when I told my OH I thought with some careful living I could save £10k towards our deposit (to add to his inheritance/savings) he was v surprised/impressed. Now to get my finances back on track and get that done!

ab_saver

Another NSD today.
Will need one pre-holiday spend day (at weekend) to get bits and pieces sorted out and gifts posted.

Got my job plan for my next rotation - unfortunately my pay isn't going up as much as I'd hoped (by about £500/year) but the rota doesn't look as bad as feared. They have restructured my pay in such a way as to make much more of it pensionable, so my contributions have gone up enough to cancel that out. Ah well.

I still need to do my relocation expenses - that's a job for the weekend.

Work hasn't been going well for the past couple of days for reasons beyond my control. Hoping things will start looking up soon.

Got a lot of stress out by going to gym. Second class was cancelled but I have been offered a free personal training session to make up for it. :money:

Also, a cousin has just been given a cancer diagnosis - they have an excellent prognosis but they aren't much older than me. Does make you ponder a bit- especially with my upcoming meeting with the IFA!

ab_saver

So today wasn't exactly the NSD planned - I moved all my spends from tomorrow to today but spent way too much money - mostly on a winter do next month...

Spends today:
-impromptu work lunch for a colleague's birthday - £6
-work Christmas do for OH and I - £113
-secret santa care package shopping - £7 (pens, chocolate)
-£land odds and sods - £2
-reduced bargains at Mr W - 39p
-totally unnecessary chocolate from Mr W - £1.50

Let's look at my original budgets, for a scary moment:
Gifts/Christmas £55/£30
Eating out £124/30 :eek::eek::eek: (I've put the winter ball in this category as it hardly belongs anywhere else and I'm not making a new category for it)
Personal spends £32.67/£35
Groceries: £15.62/40
Holiday: £389/300 :eek:

Suffice to say that half the Christmas stuff was supposed to be from next month's budget - but I got a bargain so I'm ok with that.The winter ball was supposed to come out of next month's as well but the deadline for payment was Monday and I was only told that a week ago!

So... the total overdraft going in the wrong direction this month is all but guaranteed. :mad::(:mad:

AND I know it's basically all my fault. (the whole £500 overpaid tax thing definitely didn't help, but my spending has been OUTRAGEOUS this month and THIS MUST STOP.

Littlebirdie

An_saver I'm totally feeling the same! It's hard battle to fight cause we are in our 20's so want to enjoy life but also save! Let's focus on having a frugal rest of the month and then next month have not too many unexpected spends. Saying that I know next month is expensive for me...none the less good intentions is better than no intentions at all ��

ab_saver

Littlebirdie wrote: »

An_saver I'm totally feeling the same! It's hard battle to fight cause we are in our 20's so want to enjoy life but also save! Let's focus on having a frugal rest of the month and then next month have not too many unexpected spends. Saying that I know next month is expensive for me...none the less good intentions is better than no intentions at all ��

That's the plan littlebirdie - shouldn't be too many spends as holiday all paid for except spending money (and we are taking all the non-perishable food with us so that's paid for too). I think I have actually just had loads of spends this month I planned to have next month (e.g. work do, Christmas pressies etc). I justify this as my OD is at 0% if I save money by buying something sooner it genuinely does save me more in the long run.

Had another NSD today - and made a very yummy slow cooker soup. I'm trying to get as much as possible used up before I go away on holiday - in less than a week!

Have done even more thinking about the income protection and did some sums and I think I will go for it. If I tried to self-insure then by saving the amount the premium would be every month, I'd have enough for one month's payout... after over 4 years.

I think my cousin's cancer diagnosis has hit me quite hard - he's only 3 years older than me and has 2 young kids. What would I do if something like that happened to me and I couldn't work? I ought to reiterate that this will not be an excuse not to have an EF - I definitely will need one as there are emergencies other than accident and sickness.

So.. I need to continue tidying the place and hoover the floor before the IFA comes round on Tuesday!!! I've not done much today but I've honestly been shattered and had a horrible week with sad family news as well as work going badly. After some R&R I need to pick myself up and dust myself off for the 4 working days left before my holiday- 2 short then 2 long.

giblet1979

Hi abs,
I've enjoyed reading your diary and I think you're doing really well. Not meaning to sound patronising in any way, but I think it's fab that you're thinking about these things in your early 20's, and although there will be ups and downs, you are already in a great position because you are planning so well and starting so early. There will always be a few things that are more expensive than you expect (and times when you throw the budget out of the window a bit) but I get the feeling that you will definitely meet your goals in the longer term, and I'll look forward to seeing the journey.
Hope you have a great holiday and a good rest
Gib x

ab_saver

Hi giblet - thanks for stopping by! I've been lurking reading your diary on the MFW board (I find them inspiration, as my end goal is to save towards a house deposit, and then to get MF in less than 25 years...)

Thanks for your encouragement - I know it's only a bump in the road, and will only delay me being DF by a month - I WILL still be DF this side of Christmas one way or another.... And then it's onto bigger and better things.

Planning another NSD today - and have been doing a provisional budget for next month. I say provisional because I don't know how much I'll be paid exactly due to this tax code kerfuffle. Payday is (conveniently) when I'm on holiday so I'll do my end of month update when I get back.

giblet1979

I'm sure you'll do it! On our aimed timescale I'll be 47 (or 43 and a bit if we cut to the bone and OP the whole allowed maximum which is unlikely but possible) so I've no doubt that even allowing for a life, you can definitely do this x

ab_saver

Just a few DFW things to note today.

-Tax refund from last year came through this morning - all £19.20 of it :j
-phoned up energy people to tell them I couldn't submit my meter readings, get direct debit date moved to start of month (although next one due to be taken tomorrow so will probably go as usual), and inquire as to when I'll be billed as I'm in a fair amount of credit with them
- NSD - again - as predicted, this going to the gym lark has kept me out of the shops!
- worked out how much tax I should be paying next month (on basis of overpayment so far) and approx take home pay - good to see it matches the budget I did at the weekend
- converted tesco vouchers into dinner vouchers for an MSE pre-hols dinner on Friday night
- come up with a hair-brained scheme for what to do with my money once I'm DF (more on that when the time comes)
- not done today but never mentioned it - I have quite MSE parents and my mum is Kondo-ing the house. She has very kindly offered to keep back (rather than donating or selling) a dvd player, an old apple tv (the ancient one with the hard drive in) and my old nintendo wii (at request of OH when I told him it might be going!!). She has also offered to make me blinds for the flat (out of my parents' old curtains she has decided she no longer likes :rotfl: )
- used up remaining courgettes in cake- but only because oven was on anyway

SO... the following remains to be done:

- :mad::mad::mad::mad:ing relocation expenses form - I started it yesterday and messed it up
- measure windows for aforementioned blinds (thank you mother)
- meeting with IFA tomorrow evening :eek::eek: place is a mess even though it was spotless yesterday :eek:
- pack for holiday :j:j:j:j:j:j
- sort flat out a bit
- ironing :rotfl:
- 3 more days at work before holiday!

I've been reading DFW and MFW diaries from start to finish for inspiration - it's quite addictive!

I'm feeling positive about being DF this side of Christmas... but I don't know quite how the £400+ flights to see my parents (yet to be booked as my leave hasn't been confirmed yet and the prices keep rising ) fit in.

giblet1979

Sounds like a lot going on! How great is your mum to do all that x