Mizmir's 10 month challenge!

mizmir

Good luck with your challenge Azlan. :T

mizmir

Another new customer today moving me closer to my goals. Had some spending yesterday but all within budget - even tea and cake with my parents!

Sent out invoices as well so hopefully they'll be paid soon. Still need to get a plan for steady growth for the business but baby steps.

quintwins

mizmir wrote: »

Another new customer today moving me closer to my goals.

Yay well done :T

mizmir

Have had a week with my parents so not much time to be on here. But the joy was, in spite of some nice treats, I was within budget! I have also had a slew of new clients this week if they all actually book and pay. Some have - waiting for the others - but all promising.

I have just worked out the money that is already coming and expected (from definite sources to the end of the month) and realise I can meet all my YNAB goals. That means £600 off my debt (on track to pay off before the end of the 10 months interest free), all my commitments plus contributions to emergency fund and my long term pots. Am really pleased!

Will be away tomorrow but will catch up with everyone on Thursday hopefully.

Karmacat

Fantastic news! So the plan is a really good one, realistic, achievable, and you're on track. Yay!

mizmir

Horribly busy with client stuff but a good way to be. Parents left, sister arrived. Lovely to have her here and helping - and gives me a kick to keep moving things forward. She is very good for me. Next week have two new clients as well as existing ones and a couple more the following week - as well as a trickle of online ones. Still need more work on getting people in - most of my effort is still spent on keeping them happy once they sign up! But it is all in the right direction and means I will be able to go into September with a positive balance and money already set aside for key expenses coming up.

Today is a working Sunday but am hoping to do something today at some point just for me!

mizmir

Well I have been pitiful at keeping up my diary here but have been steadily making progress using all the advice on here. Debt (at 0%) is down by a third and for the first time this week YNAB showed my net worth as positive! YNAB has transformed my spending. I know what I am spending and, even better, it is less than I am earning. Currently up to 54 days old money in YNAB! All feels good.

At the end of the week I get my pension pay out. I am just waiting to complete on a house with my sisters and will use this to buy my share outright (they also have funds so we will be mortgage free). There will be enough left along with proceeds from sale of a surplus vehicle, stuff at my current place and refund of deposit to clear the remaining debt when the interest-free period runs out next month so then I will be debt and mortgage free.

As I have taken my pension early but am making enough to live on from my business, I will be saving my pension to build up a fund to buy out my sisters should it ever be needed. And I will be closing all my credit accounts bar one for online purchases that will be paid off each month!

Nearly there!

Karmacat

Hi there! So your plan is totally coming to fruition! I'm really pleased for you And the business is carrying on, and you're not going to be living in the same house as your sisters? It's big! Thanks for checking in.

mizmir

Hi Karma! How are you doing?

Yes - business carrying on - I will be doing as much as I need to live on and will be investing my pension payments until I have enough to cover the rest of the house (about 10 years depending on growth) - will decide then if I want to wind down the business.

I'll be living with one sister 50% of the time. Her work means she is elsewhere for about 6 months a year so she'll be at the house for the rest of the time. She's been living here quite a bit so we know we get on! The other sister will be staying for a month or two a year mostly when her OH is away with work. We all get on really well so am looking forward to it - and the house has plenty of room (and we'll all have our own spaces as well as common spaces)!

Spent some time this morning using YNAB to allocate my lump sum - most of it obviously to house purchase costs but have enough to also fund a project that should come to fruition later in the year and to clear the cards. All that is done.

Am Debt Free once again. :j:j:j

mizmir

Well I have now moved into the new house and have got everything sorted from the old. Just need to tie up a few loose ends with my ex-partner (bank accounts etc.) but am feeling positive. Loving new place - smaller, more manageable, fewer responsibilities! Bills are proportionally split aomam paying out less than I was and there is scope to reduce outgoings further. Having cleared my debt my next goal is to save. I never want to be in debt again.

YNAB continues to really help - I no longer look at what is in my bank account but go by what my budget says. It really makes a difference. The move has taken focus off my business so I now need to get back to that and start rebuilding it in the new location. A lot is online so unaffected but I could do with more regular clients.

First job though is to work out what I am actually earning from the business each month and go from there!

Not sure if I am allowed to keep a diary here when am now debt free but feels like the most comfortable place to be!