Put away your purse & become debt-averse

foxgloves

It has happened annually (every January) in our house, BaileysBabe, pretty much since the LBM struck. It is helpful because it is time set aside to assess what's working, what could be better & to set a general overall framework/goal for the year ahead. On my monthly Big Budget Day, I do give Mr F a quick verbal update on how things are looking, but that's all, unless there is an issue we need to discuss.
F x

Baileys_Babe

Our updates are a combination of verbal and once a month OH fills in the spreadsheet with pay and commitments which then shows how much is left after those are covered. Once filled in he emails with any comments, I reply with the mortgage total and the balance in some key accounts, everything else is left to me. 

Blackcats

Great savings strategies Mrs F. Using the management jargon that my organisation loves - it sounds like the tangible deliverables and outputs from your annual summit enabled sign off for a top down, bottom up, over-arching, underpinning strategic iterative plan 🤷‍♀️

Baileys_Babe

Blackcats said:

Great savings strategies Mrs F. Using the management jargon that my organisation loves - it sounds like the tangible deliverables and outputs from your annual summit enabled sign off for a top down, bottom up, over-arching, underpinning strategic iterative plan 🤷‍♀️

Or something like that 😄

Onebrokelady

I try to have a small buffer in my account too, when I took the account out I was offered and £1200 OD 🙀🙀and I told them I didn't want it. I actually didn't want an OD at all but they persuaded me to have £100, I waited a few months to get used to my new budget and then I lowered it to £50, fo some reason I can't seem to get rid of it completely 🤷‍♀️
I also had a deja bu moment today, I bought one of my DGS a Christmas present from Very  which I paid for in full up front. Today an envelope plopped through the door from very and I felt very smug and relieved to know it wasn't a demand for payment for said Christmas present ( it was actually a letter trying to entice me into taking out credit and buying more stuff) I gladly ripped it up and chucked it in the recycling bin 

savingmore

Blackcats said:

Great savings strategies Mrs F. Using the management jargon that my organisation loves - it sounds like the tangible deliverables and outputs from your annual summit enabled sign off for a top down, bottom up, over-arching, underpinning strategic iterative plan 🤷‍♀️

Dear foxgloves and readers....Happy new year.  Don’t think I have posted this year, but read every night.   I am so excited to learn their are free compound interest calculators online....will explore tomorrow.  I think I will love this!  Thank you.    And thank you Blackcats for the above management speak translation 🤣🤣🤣🤣.  so, so true and shows you what a load of .......... it is!   and thanks for making me laugh out loud!

Baileys_Babe

I like compound interest calculators. Ssh don't tell ds they exist, today's maths lesson was about calculating compound interest at various rates over different periods and working backward - knowing you need a particular amount in a set amount of time how much do you need to invest at this interest level to achieve the goal. Glad to say he easily understood it.

welshspendthrift

So pleased I don’t have to home educate as my DD is grown up and DGD is not yet school age! I was never any good at Maths,maybe that’s why I got into debt but getting there now! 🤣

Baileys_Babe

welshspendthrift said:

So pleased I don’t have to home educate as my DD is grown up and DGD is not yet school age! I was never any good at Maths,maybe that’s why I got into debt but getting there now! 🤣

I am confident with Maths and so are both my children. These days there are plenty of top quality resources and support material, including worksheets, videos, curriculums available online. 

foxgloves

Blackcats - Well, of course I could have borrowed a white board & insisted on a whole S.W.O.T analysis, having first had a brainstorming session on what each of us hoped to 'take away' from the session. And naturally any goals arising from the S.W.O.T wouldn't have just been goals, they'd have been S.M.A.R.T objectives, which hopefully would have sufficiently impressed Mr F for him to have mentioned them on his feedback proforma at close of play. Not forgetting the 'icebreaker' session which would involve lobbing a sponge ball at each other while shouting out the first ten words you think of when somebody says the word 'Budget' or what the other person would be if they were a plant.
Blackcats, I am thinking we have maybe been on similar courses, lol. Are you public sector?
F x