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My savings log..."The next chapter"

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Hello everyone,
Hope you all had a lovely Christmas and a Happy start to the New Year.
As you can tell, I have been away for some time from this forum. My last savings log has since closed. Was last updated July 2014… oops :o

I have been listening to Dave Ramsey whilst doing my house work recently and have found he makes a lot of sense. I have realised since I have stopped updating on here and not completing challenges, my savings had drastically went down. I even purchased a brand new car with cash(made sure of that) as my previous car was soaked inside whilst been hand washed by the guys at the car wash. Note to self, do not get your car washed in winter in late afternoon. They hid the amount of water inside of my car boot really well. It affected the electrics as it got into the speakers and then few days later windows couldn’t open. I unfortunately had to dip into my deposit fund as my newer car fund was only half the cost of my current car.

Life had changed and I did save my end goal. Fortunately for me I moved and rented in the chosen area I had intended to purchase in. The best thing I had done. I just missed living in London way too much and the commute to work was ridiculous, just lucky if you can get a train.

I’m in no rush in buying a property. I know I am a lot older than when I first started this journey, but my life has changed a lot. I’m planning to start a family end of this year with my partner, so will have to look for another rental once my contract ends on my current flat. Thankfully I am with someone who is saving too, so he understands why I will be opting for more home cook meals instead of having expensive meals out. I’m aiming to buy by end of next year if all goes well, if not, I will just keep saving.
I have completed a new spread sheet for my monthly/annual budget for outgoings and savings. Aiming to stick to it as my savings per month are not as high as, as they were before in my last savings log as I currently reside alone.

Here are my new funds and my savings so far. (Not including my stocks and shares and various funds, as they are long term)

Deposit Fund = £80,846.38

Fees and Etc. = £12,000

Emergency Fund = £1,000

Family Fund = £600

Wardrobe Fund = £100

Car Fund = £400
Will be updating later in the month with my January savings and


Bye for now…

Sylvia
Must save to live, not just live to save!!! :think:
Challenge Save 12k in 2019 #141 £6,143.34/£6k
Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
:A
:A'Saving again after parting with a lot of money enjoying life:rotfl::A
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Comments

  • Sylvia1982
    Sylvia1982 Posts: 193 Forumite
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    Must save to live, not just live to save!!! :think:
    Challenge Save 12k in 2019 #141 £6,143.34/£6k
    Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
    :A
    :A'Saving again after parting with a lot of money enjoying life:rotfl::A
  • savingwannabe
    savingwannabe Posts: 16,610 Forumite
    First Anniversary First Post
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    Hello Sylvia welcome back!

    I am whizzing around getting ready for work so will post properly later but just wanted to say hi and well done on posting. :beer::j Have a good day.
    Aiming for a minimal spend 2022
  • pinknsparkly
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    Hi Sylvia and welcome (back)!

    I've signed up to a LOT of challenges this year, and am hoping they give me the extra incentive I need to save that little bit more. I'm quite good at saving anyway, but more is always better than less :D There's a save £12k in 2019 challenge for example and also a mortgage free wannabe 2019 challenge, which (despite its name) has quite a few people on it who are saving for a house deposit rather than paying down their mortgage).

    That's such a shame on the car, and such an expensive lesson to learn but I hope you're at least enjoying your new wheels! And it's amazing that you managed to pay cash for it!!

    I (well "we" I suppose!) are also planning on trying for a family later on this year so I'll be keeping my fingers crossed for the two of us :beer:
    MFW2023 challenge #99: £1090.11 / £1,000 MFiT-T6 (Jan 2022 - Jan 2025) challenge #99: Reduce mortgage to £400,000. Current balance = £413,551.19 Initial MF date (23rd Aug 2022): Sep 2051 Current MF date: Jul 2051 Last updated: 15/06/2023
  • Sylvia1982
    Sylvia1982 Posts: 193 Forumite
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    Hello Savingwannabe and Pinknsparkly, thank you for the lovely warm welcome.

    At this moment Pinknsparkly I cannot see myself saving as much as £12k this year, but will ask my supervisor on my return to work tomorrow to ask for extra shifts on my days off here and there, as it all adds up. I remember doing that challenge back in 2012 eek.
    But will definitely will be aiming to join a few challenges if they are still accepting new members.

    I too will be keeping my fingers crossed for us both on the family planning :). My partner keeps reminding me, that means a child will be relying on us both :eek:
    I have started saving towards this, hopefully when we do start for our family it wont be too painful whilst I'm on maternity pay.

    I'm going to head over and try to locate the challenges threads

    Take care,

    Sylvia
    Must save to live, not just live to save!!! :think:
    Challenge Save 12k in 2019 #141 £6,143.34/£6k
    Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
    :A
    :A'Saving again after parting with a lot of money enjoying life:rotfl::A
  • Skint_yet_Again
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    Hi Sylvia :wave: wow that's awful about your car I don't suppose that's covered by car insurance ?


    Your savings are very impressive I look forward to seeing your progress
    0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
    House sale OCT 2022 = NOW MORTGAGE FREE 🤗
    House purchase completed FEB 2023 🥳🍾 Left work. 🤗

    Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).

    Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1

    Living off savings diary
    https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p1
  • Sylvia1982
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    Hello everyone,
    Just a quick update, I have managed to join a saving challenge "Save 12K in 2019" I had assumed I had to save at least 12k to join(as I did this challenge back in 2012 with no issues in making more than that), so was happy I have been accepted with my low target of £6,000 for now:j
    So thank you Pinknsparkly for the suggestion.

    Hello Skint yet again, Unfortunately I did not go through my car insurance as I had no proof of what they had done at the time.Unfortunately I only discovered the next morning the damage they had caused to my car, as it was soaking wet inside :(

    I have been informed there is over time available, I just have to let them know when I would like to do them. Need to have a look at my partners monthly shift pattern, as we both work shifts. Don't really want to work on day we both have off :o
    I better leave it there for now.

    Take care,

    Sylvia
    Must save to live, not just live to save!!! :think:
    Challenge Save 12k in 2019 #141 £6,143.34/£6k
    Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
    :A
    :A'Saving again after parting with a lot of money enjoying life:rotfl::A
  • savingwannabe
    savingwannabe Posts: 16,610 Forumite
    First Anniversary First Post
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    OMG so sorry about the car - a very important thing to remember if I do ever drive and get a car. Does anyone remember the 1970s when everyone's dad's used to wash their own cars at the weekend? - I think we should go back in time.
    Aiming for a minimal spend 2022
  • Sylvia1982
    Options
    Hello everyone, hope you are all well

    Well, since my last update I have been doing some research in regards to when I become pregnant and what my pay will be after the initial 13 weeks once I go on maternity leave. I was rather surprised and slightly worried as it will only cover my rent and utility bills. Just happy I have looked into this now before its too late. As of next month I shall be saving at least £300 towards the family fund.

    I have been really good with my budget. I’m still baffled how I was spending on average £12 -£15 on lunch whilst at work. I have been taking in home made sandwiches or cold pasta instead, as I work between various locations during a shift. Been eating out of my cupboards and batch cooking, which has been fun.
    Been baking bread, which I know cost more, but nothing better than freshly baked bread in my opinion. Today I have made another batch of soup, as I had the last one yesterday for dinner.
    I have 5 portions in the freezer and 2 in the fridge for me and my partner for tomorrows dinner.

    Here are my January savings


    Deposit Fund = £745.71
    Total=£81,591.79

    Family Fund = £200
    Total = £800

    Wardrobe Fund = £50
    Total =£150

    Car Fund = £86.67
    Total = £486.


    I am so happy my November over time has finally been paid:j. In a way it was a good thing I didn't get it in last months pay or I would of spent it on something silly.

    I have updated my personal spreadsheet and will look into my bank statement to see what else I need to cut down on.


    I better go as I have an early start tomorrow.
    bye for now, Sylvia
    Must save to live, not just live to save!!! :think:
    Challenge Save 12k in 2019 #141 £6,143.34/£6k
    Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
    :A
    :A'Saving again after parting with a lot of money enjoying life:rotfl::A
  • Sylvia1982
    Options
    Hello everyone,

    Just a quick update. I have since received a refund of my credit from my energy provider this morning which has given me in total £50.78:j. I have added this amount to my deposit fund. New total is £81,642.57.
    I have also had been really good by having the last 7 days as NSD. Really proud of myself as I have been at work all week, with so much temptation whilst out and about going pass for example coffee shops. I have been bringing in my thermos cup with my hot drinks already prepared.

    Just hope as I am working nights the next 2 days I can keep this up.
    I'm going back to sleep hope you all are okay.


    Bye for now,
    Sylvia
    Must save to live, not just live to save!!! :think:
    Challenge Save 12k in 2019 #141 £6,143.34/£6k
    Deposit £82,317.88/£120K :jFees/ect £12K/£12K:jEmergency fund £1K/£1K
    :A
    :A'Saving again after parting with a lot of money enjoying life:rotfl::A
  • savingwannabe
    savingwannabe Posts: 16,610 Forumite
    First Anniversary First Post
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    Fantastic news and it's great you have had a NSD week. Fabulous savings! Crumbs. You are rich.
    Aiming for a minimal spend 2022
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