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My 5 year plan

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Comments

  • fatrab
    fatrab Posts: 1,231 Forumite
    Yep that sounds sensible re clearing loan. We use a Santander 123 credit card for fuel and supermarket. 1% on supermarket and 3% on fuel.
    Annoyingly, I used to have that card. It's not available any more. I might consider another one later in the year, probably the Amex 5% for 3 months offer if it's still available. Maybe something better will come along by then.
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • JoJoC
    JoJoC Posts: 1,836 Forumite
    I'm getting shot of my 123 card for a similar reason - it has a 0% balance and I'm not sure I trust myself to spend on it and be in complete control of my budget/ money to pay it off in full every month. And it's just costing me the monthly fee to sit there empty so it's getting cancelled. I have a 123 account which rewards me reasonably well for my bills so I'll just stick with that - safe option!
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
  • You're really smashing this! Just out of interest, what happened to the old diary?


    Very well done on the weight loss too, I really need to get in gear on that one!
    Paid - 7095/26218 - Total
  • fatrab
    fatrab Posts: 1,231 Forumite
    Thanks! A lot of people's diaries were mysteriously deleted. I believe MSE are trying to fix it
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • Ahh that sucks! I missed it, I've been AWOL for a week. Sorry for being a nosey mare asking, just yours was the first one I lurk on that I couldn't find!
    Paid - 7095/26218 - Total
  • fatrab
    fatrab Posts: 1,231 Forumite
    On the 2nd January when I created my original diary I didn't really know where things would end up. Whether this would just have been a fascination for a few weeks, or whether I'd stick at it and things would change.

    I've had hare-brained ideas in the past. It would not have been a surprise to many who know me if this had fallen by the wayside around the second week in January as many other resolutions have done in the past. But this year was going to be different, I could feel it. And it has been.

    But one thing that has annoyed me was that the initial plan was hampered by my tax bill. It arrived on the 6th January and was due to an overpayment for 2016/2017.

    This has set me back 1 month. In order to claw that time back, if I can save or earn an extra £100 per month for the next 10 months I'll have offset the damage done by the tax bill. I'm not talking about getting this years tax rebate or selling the wife's car, those are things that were going to happen anyway. I mean truly saving or earning more cash pound notes.

    So this has got me thinking about ways to save and earn (and I'm open to suggestions if you have any).

    I've changed to using discount supermarkets. The problem is that up until January Mrs fatrab did most of the shopping and I only bought bits n bobs as I needed them. As I am now doing the weekly shop, I don't have an exact value to put on the savings or anything to accurately compare them to, but I can see that a lot of items are considerably cheaper than the mainstream supermarkets.

    Economy driving. I have managed 6mpg more than usual. That's almost a 20% increase and as such should equate to £60 per month saved, if I can keep it up.

    If I am saving £10 per week by using Lidl and I can stick to having a slightly longer journey time when commuting then my goal is more or less complete. But in order to be absolutely sure I'm achieving my goal fully, I want to do a little bit more.

    I think I've cut down, scrimped and saved in as many places as possible in terms of essential spending, so what next?

    Earn? I don't need the money, so I feel that if I took on additional work I'd be filling a position that should be taken by someone who does need it. I was offered some casual driving work at weekends but I don't want to commit and my time with the family is precious to me, as I work away from home during the week.

    Any thoughts or ideas welcome!
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • natsplatnat
    natsplatnat Posts: 3,033 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    I would just add use a cashback site for everything you purchase online - all insurances etc. You can register your card on the site too and pick up cashback for items bought in-store. Keep an eye on gas/elec and if you change... use a cashback site. I have Q.co and TCB and check the % cashback on both before purchasing anything as they do vary.
    Have you considered surveys? Not going to make you millions, but the odd £20 - £50 here and there all helps.
    Focus groups can be a good way of picking up some extra £'s. A couple of years back I did one for around 1.5hours and it paid £70.00. They don't require a regular commitment either!
    start = Wed 19th Nov 2008 £21,225
    end = Mon 28th Sept 2015 DEBT FREE!
    I love a good plan - it may not work.... but I love a good plan!
  • JoJoC
    JoJoC Posts: 1,836 Forumite
    Survey sites might be the way forward - unlikely to earn you £100 per month but there's a few on here that make some decent money from them. I can make £20p/m minimum on Prolific Academic (one month, I made £40) and if you dedicate some time to the top 5 then you should be able to claw £20-30 per month? Monz and Scott Weiland are good survey earners and may have some tips.

    This won't make you £100 per month, but it would bridge any gap that may exist in your grocery shopping savings and fuel efficiency savings.

    I'm really close to cashing out on Onepoll which is £40 (it has taken me quite a while but I haven't been very committed to checking it).
    CC1: £4481.14/ £5031.14 (12% paid off, £600) | CC2:£3307/ £3807 (14.4% paid off, £550) | Loan: £10,528.20/ £15,792.30((33% paid off, £5,264))

    July debt total: £24,630.44 | New debt total: £18,316.34 | Total debt paid: £6,414.10 (26%)
    *My debt busting and savings diary*
  • fatrab
    fatrab Posts: 1,231 Forumite
    edited 6 February 2018 at 4:55PM
    I'll take a look at the surveys later tonight. I have 3 or 4 nights every week where I could be doing them.

    Was looking at cashback cards but even the best available would only pay 5% for 3 months then 1% from then on, but I suppose every little helps. I'll check out the cashback sites when the time comes for renewals. We've just changed supplier for gas and electric so currently on best deal (and awaiting cashback!), home insurance due July then car in October.

    If I could find something with a regular income or saving of around £40 per month I'd be happy with that on top of the fuel and shopping savings already in place.

    Thanks :)
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • Another nod to the survey sites here. Prolific Academic, Opinion Outpost and QMEE have all done me a good turn over the last few months. Won't make you a millionaire and it's boring as hell but worth a bash for the 'free' money.
    Paid - 7095/26218 - Total
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