Been through the tunnel and Seen the Light, But Need to Keep it Burning Bright!

Mysteek

If it’s one thing I’ve learned since becoming debt free (and there have been many both during and after), is that that is not the end of the journey it’s just one step along the road to get where I need/want to be and achieve. I think that this was the mistake I made, it was such a relief to pay off all the debt that I just lost focus and need to get back into the swing again.

Encouraged by Seasidegal58 (thank you x) I have started a new diary to keep me on track for the next step in my financial life. Although not strictly a debt free diary, I want to apply the same principles as if I was paying off debt.

With retirement looming in the next few years I sometimes feel I am running out of time, but initially these are the things I need to start putting my money into:

• Retirement fund
• House stuff – this had been neglected when in debt (new shower room, new bathroom, new boiler, new carpets, decorating etc. etc. the list goes on)
• Emergency Fund (£1,000) – did have one but it got spent L

There are other things we need to save for but to start with I need to apportion my spare money to the above 3, as I consider these are my priorities at the moment. I will probably put the largest amount into the house fund so we can get the things done quicker, maybe £250 into the RF and £100 into the EF, but will probably move things around as I go along. OH too will be adding his spare cash when he can, but he has to save up for his insurance end of December (its high due to his job) and possibly will need a new car next year L

One other is overpayments to the mortgage. I have already paid the maximum 10% OP’s allowed this year and the new allowance is due to come into effect in February so I shan’t worry about that for now. I lent DD2 nearly £500 to get a new washer and dryer which will get repaid in January so intend to use that to kick start the mortgage OP fund.

I joined a few challenges, I just love the £1 a day for Xmas! My OH gets paid a lot in cash and so it’s easy for him to pop a £1 in a jar each day, plus any other change he has. Then every so often the money is paid into the back in a specific savings account I have set up. This has been brilliant as I have had the money there to take advantage of any offers. I have already got the majority of my Christmas presents without spending any of my own money and 3 months savings still to come. It’s definitely one challenge I will be continuing next year! Also we haven’t used any of our Nectar points all year, so £78 to go towards Xmas food so far, plus a £10 gift card I converted from points I had earned on a purchase I made through a company reward scheme. So hoping for around £100 to go towards food for Christmas. I feel so good that this is under control and I won’t have to spend the whole of next year paying for it.

I think we’ve been spending too much on food, or rather food plus any other distracting nice things we see as we shop in the supermarkets. I need to start and get this under control again and try and set a budget again. More stews coming up I think!

Situation at work is still a bit fragile, more talk of rationalisation/reorganisation next year, but can’t let this distract me.

A bit of good news, my DD2 is expecting grandchild no. 2 - 5 days to due date! So excited!

For anyone who is interested my DF diary is entitled "I Wanna See The Light"

Seasidegal58

Lovely shiny new diary! :j:j:j. And wonderful news about the new little Mysteek! You must all be on tenterhooks!

And you have intimated in the past that you aren't very well organised! I think your Xmas preparations are wonderfully organised and so very MSE! :money: I've only bought a couple of pressies so far!

I know you'll get the food budgeting under control as well once you have put your mind to it. Budgeting I think is the key to everything. Once you know where everything is to be allocated it makes the whole process so much easier.

Great goals too and well thought out. My next goal after the emergency fund is a new kitchen as I will probably move nearer to DD after retirement and want to get the flat up to scratch before selling.

Re emergency fund - I can't tell you how much the the relief is of having this cushion. After years of emergency credit card purchases its wonderful!:)

Hope work sorts itself out x

Keep posting! (Said in the style of Tess and Claudia at end of Strictly!)

Seasidegal58

..... and love your diary's title!:T

Mysteek

Hi Seasidegal, thanks so much for popping in, I need to try and post a bit more often but time flies these days! Hope everything is ok with you.


Can't remember saying I wasn't very organized, perhaps I was having a down day at the time. Its one of the things I'm known for at work, if they want something organized they give it to me lol. Hmm perhaps I am when I get paid for it ha ha.


Just added up the spends at the supermarket this month, nearly £300! This has definitely got to stop, OH is bad with this as he can pop in and get milk or bread during the day but always seems to end up buying other stuff that we don't need. Slapped wrists for him!


We've had Sky for last year but now the 50% offer is due to expire next month we have given notice to cancel it and got fibre optic at half price for a further year, so all in all saving around £50 a month.


Also, my phone contract finishes in December, its gone up from £33.99 (I know!!) to £34.79 due to increases, so am thinking of changing to SIM only deal. Phone is ok, just got a new battery and SD card so I have more memory so hoping it will last me another couple of years. Fingers crossed!


I think I have to do more on the day to day budgeting, I'm ok on the big stuff but the little things tends to just float on by. I tried YNAB but sort of drifted back to my tried and tested spreadsheets. I somehow don't fancy paying monthly for ever for something that is supposed to help in saving me money.


Still waiting on baby, thought it would happen this weekend but he is obviously too comfy where he is.


Oh well I suppose I had better get back to work as I'm doing this update in my lunch break.

Mysteek

Thanks for liking my title Seasidegal, it took me ages to think of it lol. There are so many clever and witty diary titles

Seasidegal58

Hi Mysteek

I thought you may have had a baby announcement to make but I love the idea of the comfy infant:)

The food spends can creep up so easily, but excellent news on Sky :T

Re phone - there are some good deals about. I was PAYG for ages but it wasn't giving me enough minutes or downloads. I was with O2 and they let me keep my number and I now have a rolling one month contract with lots more minutes and data. it is £17 but I have a one year discount so £14.65 at moment.

I think keeping your own spreadsheets for budgeting is fine. You do what suits you best. I first got YNAB very cheaply when it was sold on a one off payment. Ive got so used to it I can't let it go!

Hope you have some exciting news soon!

Seasidegal58

Hi Mysteek


Any news yet!


x

webitha

I'm the same as you hun, why pay when I can get my pet teenage geek set me up a simple spreadsheet, I keep looking at it even when i have nothing to add lol... I'ts addictive, and that the reason my debt is now £3950.00 instead of the £15k it was 3 years ago

p.s any news????

Mysteek

Thanks for asking Seasidegal and webitha, but no news as yet, all signs looking good but not kick started into full labour yet. So I met DD2 and GD after work and we popped to local shopping centre for a look round as we thought walking might help. Little one was hungry so we called into M&S cafe and I treated them to a snack. Then I sort of accidentally bought the baby and GD something from the clothes section at M&S (with the 20% off voucher) and then GD a half price toy from Sainsburys. Ahem so not a very MSE day today, not even budgeted for so been very bad in one respect but have cheered 2 of the most important people in my life up a bit today. Will just have to put a bit less in the house fund this month.

Hope you're feeling better now Seasidegal x

Webitha I'm the spreadsheet geek in our family lol. I keep changing my mind as to how I'm going to achieve what I want just so that I can create a new spreadsheet I think. I did buy the full version of YNAB after the free trial but I just started to drift back to my own spreadsheets. I think its because I like to check my bank account every morning when I get to work and update my spreadsheet. I can't download YNAB onto my work laptop and I don't really like the phone app. I agree they are very addictive lol. Well done BTW on getting your debt down, that's an excellent result and it won't be too long now before its all gone!

Seasidegal58

Any news?!

Mysteek

Yessssssssss!!!!!


Little boy delivered yesterday evening, both doing well. Seen photos and he looks gorgeous! Looked after little GD overnight so really tired today lol


Thank you for asking x