Overpayment Addict

DeterminedSingleMummy

Redid all my budgets and figures tonight as I have seen my payslip (for three weeks pay) but should be the same going forward apart from the tax. I'm hoping the figure I used isn't too far off what reality will be going forward.

All the money that I have made whilst tracking my diary will go towards my car and my budgeted overpayment for October Novemeber and December will also go towards my car. Instead of paying 10% at 1 Jan. I will now just carry on paying what I have budgeted to pay which is more now that I an full time.

In my monthly budgets I have also included the cost of swimming and gymnastics and lunch money as previously I this was money that I would have to find from ebae sales or OT. So no stress about that anymore.

I've kept my car budget the same even tho it will cost me less to run and maintain but the money is there just incase something happens and if nothing happens I'll keep it as savings towards a new car as cars don't last forever anyway. I will be claiming expenses for work aswell so that will extra money towards the car budget.

I have found a new app to track everything. It uses the envelope system and carries the money to the next month if I havnt spent it all. This is good for annual bills that I pay so I can keep track of how much I have if everything. Previously I have just guessed and hoped for the best :rotfl:

Feeling really positive about everything. The aim at the beginning of the year was to overpay 10% of my mortgage by Dec 2017 which I have done already, then halfway thru my diary I decided to push myself to be able to pay 10% on 1st Jan 2018. If I didn't have to get a new car I probably would have made this target. But things happen and I'm lucky I have that money saved that can go towards the car. The money will sit in the bank at 5% while I purchase the car on a 0% credit card.

I may still overpay by 10% on 1 Jan using the stoozed money as I should be able to replace this within 6 months. Havnt decided yet. Will reevaluate closer to the time.

The shares money will be left untouched. Might need to use some of it as Xmas gifts. But trying not to touch that pot of money...

Everything is tracked on my new app so I feel super organised now

wildesavings

Sounds like you're completely organised and got a plan!!!

DeterminedSingleMummy

I feel organised now because I've got figures to work with around my new pay and new expenses (school lunch, gymnastics etc) anything that isn't spent for that month will go towards overpayment (at the moment it's going towards the car but once that's paid off it'll be overpayment)

No spend day yday. After swimming lessons we went to the library and got some books for her to read.
Working all day today but planning to pop into town after work to pick up something... hopefully won't be tempted by the shops.

Then two birthday parties on the weekend. So no other activities planned. Should be able to how a no spend weekend.

Eating my lunch in work currently. Feels like nice knowing I havnt had to spend £3 on a meal deal for it and I've made it myself last night too so healthier too

Hope everyone has a nice day x

lavinia21

Hi determinedsinglemummy what is the app that you have found? Sounds like you have it all under control.

DeterminedSingleMummy

Hi lavìnia the app is called spending tracker. I downloaded a few and played around with them and found that this one works best for me. It allows me to allocate repeat income to envelopes and then transfer them from one to another and the option to carry over to the next month/week if I want.

I am exhausted... just about to begin my fourth week of being full time and my body just isn't used to it :rotfl: two birthday parties on the weekend aswell so not really had time to rest. I'm sure my body will adjust and get used to being on my feet 39 hours a week instead of 21 :rotfl: was so tired I did no lunch boxes or uniform prep last night so I woke up super early to do it all this morning.

It's all done now and breakfast eaten and coffee is ready. Just waiting for the school run before another crazy week :j

Xx

DeterminedSingleMummy

Nearly Friday :T

New 0% purchases Tesco credit card sorted and I managed to transfer my large credit limit from my old tesco credit card onto this one. It has 30 months interest free purchase period so the large credit limit should keep me going for a while :rotfl:

My balances on my other credit cards have been transfered onto a 25 month 0% Interest with no fee.

I managed to transfer the balance off my 0% Santander card too which is 0% purchases until June 2019. So this has freed up credit on this card and I have the large limit on my Tesco card too so I won't need any more credit card applications for a while. Two other 0% cards have finished so I will cancel these cards.

All of that means i don't have to worry about repaying any of my stoozed pot until June 2019 :j:j:j but obviously I will try and balance transfer if these 0% fee free offers still exist.

I have also now opened a FlexDirect nationwide account which offers 5% on £2500. And also a flex saver 5% account too (not sure what the actual name of the account is) so this means I have 4 accounts which will be earning me 5% from money that isn't mine

So my worry was that the more I applied for new cards and balance transfers that the lower the limit I would be getting but the credit limits I've been getting have been getting bigger and bigger each time allowing me to purchase or transfer more money :D

My 5% monthly savers are nicely staggered throughout the year too and the money will be accessible way before it is needed to be paid back to the credit card company. I may be able to run some of the money through a savings account twice... :T:T

Feeling really positive about everything as I'm organised and seeing it written down makes me feel better about everything.

Now I wonder if I can find more 5% savers :rotfl::rotfl::rotfl:

wishingthemortgaheaway

Sounds fantastic, but my mind is blown, stoozing is definitely not for me.

SuperSecretSquirrel

Your stoozing is going great DSM, and you can absolutely find more regular savers! I'm winding mine down at the moment as the sheer number of accounts was starting to bog me down a bit, shifting to a simpler financial life now. Santander, first direct, hsbc and I think tsb all have decent regular savers that have recently matured for me. I'm fighting the urge to open new issues for now, but it's worth you taking a look

DeterminedSingleMummy

Thanks SSS. I know what you mean with the number of accounts. It's a lot. I have them all written down of what happens when and review every few months (feeling like i run them like a business:rotfl:) luckily tho I only have 3 0% cards but with larger limits rather than more cards with smaller limits. It's easier to manage with fewer cards.

I have Santander nationwide and hsbc 5% saver. I think mands only offer 5% if you switch to them but I will be looking at first direct 5% saver soon I think. But I don't want to open too many things the same month or have accounts requiring change in the same month so I've only got to deal with one account or one credit card at a time while the rest run themselves with standing orders and direct debits.

It takes a lot of discipline but i started with small amounts and learnt to manage it then slowly increased the stooze pot. Santander have suggested I ask for a credit limit increase in December to max my 0% spending which I may look at but currently I have more 0% credit to spend than I will actually spend normally :T

DeterminedSingleMummy

Feel like I havnt posted for ages! Mainly because I have nothing really to post...

I am not making extra money from ebae or any other side hustle at the moment as this week is my 6th week in my new job and I'm full time so pretty hectic. I am earning more and putting more into my pension (around 5 to 6 times more than I was previously) so altho I may not feel the full benefit of working and earning more now i will certainly have a considerably larger pension than if I carried on in my part time role.

I have been sticking to my budgets and saving a little bit each week by TT. So far in October I've saved £50 from my weekly budget.

The new car is going great. On a normal week just driving to and from work it's only costing me £10 instead of £20 so I've been saving the difference (which is where some of that £50 above has come from) my car doesn't need road tax either but I left my car weekly budget the same so I should have some money left over once insurance and mot is done. Or if something goes wrong with the car.

Next week I should be out on the area where I will be able to claim petrol for all my journeys. And with my car being so petrol friendly i will save the difference between petrol put in my car and expense claimed..

Most importantly tho I am staying within my budget and Im spending the same (or less) amount than I did as I when I was part time so the extra money im earning is going towards pension and mortgage overpayment.