Best put on my big girl pants! my saving for a deposit diary

mumof3.12kindebt

First no spend day of the month. Was tempted to go to the local supermarket and get some chocolate and treats for tonight's game but I didn't give in. Sat watching it with my blanket and cuppa instead.

:j

Have a great evening everyone :A

mumof3.12kindebt

Hello everyone , I hope you are all well and enjoying the beautiful weather.
I have work this afternoon. Today will be a no spend day.
I need to go through my accounts and see what direct debits can be cancelled.

I can now confirm our new income is around £3000 per month + £300 petrol allowance. This is the highest our income has ever been and a very comfortable income I think. Even with higher outgoings here I think we could save around £1000 a month. I'm aiming for a £10k emergency fund as I said before and then I'm going to put £2000 in another account for things like school trips , birthdays Xmas etc.

I think I worked it out previously if we overpayed the mortgage by £800 a month we could clear it in ten years. I'm going to do some calculations. It wouldn't be possible every month as I'd like to take the kids camping once a year and we have things we want to do with the kids. In ten years my eldest will be 20 and I would like him to have some nice experiences before he leaves the nest.

It's things to think about :j

Have a nice day everyone

mumof3.12kindebt

I've just done a quick calculation.

Overpayment of £750 a month would clear our mortgage in exactly 10 years.

Of course we need to build our emergency fund first.

Getting it cleared in ten years from next July (allowing the next 12 months to build our emergency fund) would make us mortgage free by 38 ! We are both turning 27 at the end of the month .

So that's the plan. Build the emergency fund. Overpay the mortgage by at least £750 a month every month.

I will try and pay more when we can but we would also like to do things with the kids , have an annual holiday and experiences. Life is for living after all.

Have a great day all

apple_muncher

Isn't it just great to see what can be achieved! You started off wanting to save to get a mortgage, and now you find that you can pay it off (probably) in only 10 years! Go for it!

mumof3.12kindebt

apple muncher it really is. And what is even more surprising is that its was only 2 years ago that I realised how much debt we were in. And it scared me. I. Started to try and clear the debt but I hadn't really had my lbm and although I was trying to pay the debt off I was trying to do it well living the lifestyle that got me there in the first place.
In the last 20 months we have achieved more than I even throught possible. Becoming debt free and then getting on the property ladder. And now I want to get the mortgage gone. Like you said it's amazing really.

I understand we will have some months where we may not be able to pay as much but hopefully some months we can pay more to balance it out .

mumof3.12kindebt

Morning beautiful diary friends ,

I hope you are all well , love and hugs to all those that need or want some .

At work all day today so will be a NSD.

Need to be stricter with the budget the rest of the month. As we have been buying lots of extras over the last week.

On the upside we have some decent snack boxes for when we are out. As ours seem to be no where to be found. Also still have all our water bottles and me and my partner now have thermos cups so no need to buy food and drink when we are out from now on .

Went to the town carnival yesterday we didn't spend anything while we were there so that's positive.

I feel so drained today and bunged up so hoping for a good day at work to get me through.

Have a good day everyone

mumof3.12kindebt

Hello my beautiful diary friends,
I hope you are all well. Hugs to those that need or want one ..

so over the last few days kids has been poorly. First it was DD and now Ds2 . I went to visit family with him today. Luckily he wasn't poorly till we got back. Unluckily he was meant to have his first assessment at school tomorrow morning which he won't be attending now. Hopefully no one else gets poorly.

Only spend today was fuel. I forgot to track the last few days spends so have started again as of today.

Off to have a shower once I can get the kids settled and then an early night for me as im leaving for work at 5.30 in the morning.

Have a lovely evening all

mumof3.12kindebt

Hello beautiful diary friends ,

Had to have today and tomorrow off work due to catching the big off the kids

Sofa got delivered today. It's lovely I'm very happy with it . :j

Got a few phone calls done this morning. And a few emails sent.

Got a few more jobs on my list which I can continue to get done from the sofa

I have been doing very badly at keeping on top of our spends so far this month which I'm really annoyed about

Going to go through my transactions and see what bills have gone out as I can't remember what dates I set them to go out for except the mortgage

I'm going to set all the direct debits up to come out at the beginning of the month.

I need to get a quote to get the floor done in the lounge. And a quote to sort out the dining room (had a leak above it and it's damaged the wall)

Ideally I want to get the lounge and dining room done before Christmas .

And then we will do the kids bedrooms and our room.

The bathroom and kitchen will be last as they will be the most expensive projects.

Off to get some jobs done

Have a nice day everyone . Hugs and love to those that need or want some x

mumof3.12kindebt

So eldest wants a Minecraft room
Ds2 we are going to do a fire engine or bus bed and then maybe decorate the room with clouds and stars and rainbows
DD we are going to do a house bed and then similar to ds2

Lounge me and partner are yet to agree .

Kitchen we know we want to do an extension so that will be costly but yet to find a kitchen we both like although we have agreed on getting a range cooker and smaller fridge freezer

Ordered some Tesco shopping this morning it's being delivered tonight

Watching a film with eldest now. Have a great night everyone :beer:

mumof3.12kindebt

Hello my beautiful diary friends,
I hope you are all well and life is being good to you.

Today was a NSD hopefully the rest of the month we can have a lot more of these.

Still have a few jobs to do.
Hoping I'll be well enough to do a few skip runs tomorrow.

Dinner is in the oven.
Made smoothies earlier (dairy free , would be vegan but I used honey to sweeten it) partner liked it. Secretly hoping I can get him to swap a couple of his sugary drinks each day with healthier alternatives and as he's lactose intolerant these smoothies seem like a great option. Super pleased he liked it. The kids not so much but I'm not giving up on trying to get them on a much healthier diet. (they only drink water and milk (soya milk in ds2s case) and the very occasional squash/fruit juice)

My aim for the rest of this month is

Try to only spend what is left in our spends account and not dip into the savings
Eat healthier
Walk more (not always possible due to my cp but I'm trying)
Get a plan finalised for school regarding ds2.
Use up what we have before I do another food shop (had a Tesco order last night)

Things I need to improve on

Raining in On our spending
Not doing a food shop until we have used what we have

It seems since we have moved we Are being frivolous with money. I'm quite annoyed I let it happen.
I'm absolutely determined to gain back control of this.
I'm hoping to sit down this week with DP and set our budget for the rest of the year.

Council tax is over ten months so the 2 months we don't pay I'll use it as a mortgage overpayment or savings
Tax credits we get 13 payments a year so I'll use the one extra payment towards savings or mortgage overpayment.

Also once we have the £10,000 in our savings account I'm going to start a new diary for our paying off the mortgage as soon as possible diary .
I will link this diary and my previous diary in the first post.
I will update my first post on this diary over the next few days

Have a great evening everyone !

Stay frugal !