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I Want To Retire
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SAVVYSCOT
Posts: 25 Forumite
I feel y'all will need a bit of backstory here...
We lost My Auntie yesterday to the Big C. However, this very sad time it has REALLY got me thinking about my financial situation.
She never really had a retirement. She got diagnosed a few months before she retired and all her grand plans of going to Australia etc. were put on hold whilst she put up a fantastic 2 year battle.
I want to retire (currently late 30s, married with two kids), or have a plan in place that if things go wrong I can retire early. I dream to be able to spend time with my girls when I retire. That is ambitious, I know, but aim for the moon and all that...
I am currently sat down (on this miserable Monday morning) whilst youngest babe sleeps, watching True Detective (season 3 -very good so far) and I am very VERY focused on our financial situation, with everything else that can go wrong in this life, I would like to remove money worries from the equation.
Credit Card 1: £2.452.65
Credit Card 2: £6,418 Car purchase
Family Loan: £10k (:eek:)
Mortgage: £160,630.74
I'm currently on maternity leave so you would think we have reigned the spending in but NOOOOOOOO, I basically squander cash left right and centre. Soft play, coffees, daily T*sco trips. It all stops NOW. I need to be accountable. I'm a sneaky little sausage
so if i'm not accountable to strangers on the internet I cheat
So I'm going to update this diary and I've set up a instagram account (the_savvy_scot). I will do a statement of affairs but the current action plan is:
ACTION PLAN :money:
* £200 Food budget for the month (family of 4)
* No food shop except for some fresh fruit and veg this week. We got a HUGE meat haul from the local market this week so meat will not be required for rest of month.
* No softplay visits - the local park is free and amazing or we have crafting supplies coming out our ears, she looooves baking and we also have a fab local library. Need to utilise these things more.
* I need to stop buying my eldest daughter things. She's just getting to that age where she's really taking an interest in things (Elsa - Frozen) and I really need to reign it in. Mainly because I don't want her being materialist, but also I would rather the money went on holiday and making memories (see below).
* Do a statement of affairs - Amazon prime, audible, data storage, tv, phone bills, heating, everything. I need to sit down and really access what is being paid where.
* We have 3 holidays this year (:eek:) Errr, we like a holiday :rotfl:
- Spain for a week is paid for but we need spending money.
- Centre Parcs down south is 30% paid for but aside from petrol and food spending money
will not REALLY be required
- A caravan in Scotland for a week. Not yet paid for.
Anything else? Can anyone think of anything i am missing??
All right, who is with me? Come on, who else wants to retire?? WHO IS WITH ME!!
:beer::j:money::p;):D:o:rotfl::T:A:)
We lost My Auntie yesterday to the Big C. However, this very sad time it has REALLY got me thinking about my financial situation.
She never really had a retirement. She got diagnosed a few months before she retired and all her grand plans of going to Australia etc. were put on hold whilst she put up a fantastic 2 year battle.
I want to retire (currently late 30s, married with two kids), or have a plan in place that if things go wrong I can retire early. I dream to be able to spend time with my girls when I retire. That is ambitious, I know, but aim for the moon and all that...
I am currently sat down (on this miserable Monday morning) whilst youngest babe sleeps, watching True Detective (season 3 -very good so far) and I am very VERY focused on our financial situation, with everything else that can go wrong in this life, I would like to remove money worries from the equation.
Credit Card 1: £2.452.65
Credit Card 2: £6,418 Car purchase
Family Loan: £10k (:eek:)
Mortgage: £160,630.74
I'm currently on maternity leave so you would think we have reigned the spending in but NOOOOOOOO, I basically squander cash left right and centre. Soft play, coffees, daily T*sco trips. It all stops NOW. I need to be accountable. I'm a sneaky little sausage


ACTION PLAN :money:
* £200 Food budget for the month (family of 4)
* No food shop except for some fresh fruit and veg this week. We got a HUGE meat haul from the local market this week so meat will not be required for rest of month.
* No softplay visits - the local park is free and amazing or we have crafting supplies coming out our ears, she looooves baking and we also have a fab local library. Need to utilise these things more.
* I need to stop buying my eldest daughter things. She's just getting to that age where she's really taking an interest in things (Elsa - Frozen) and I really need to reign it in. Mainly because I don't want her being materialist, but also I would rather the money went on holiday and making memories (see below).
* Do a statement of affairs - Amazon prime, audible, data storage, tv, phone bills, heating, everything. I need to sit down and really access what is being paid where.
* We have 3 holidays this year (:eek:) Errr, we like a holiday :rotfl:
- Spain for a week is paid for but we need spending money.
- Centre Parcs down south is 30% paid for but aside from petrol and food spending money
will not REALLY be required
- A caravan in Scotland for a week. Not yet paid for.
Anything else? Can anyone think of anything i am missing??
All right, who is with me? Come on, who else wants to retire?? WHO IS WITH ME!!
:beer::j:money::p;):D:o:rotfl::T:A:)
0
Comments
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OKAY. I've failed within the first hour. :wall:
Just realised I don't have a black dress or anything appropriate for a funeral. So I ordered one online (£60).
HEAR ME OUT. I'll be going for a job interview soon, so i needed something formal for that. AND my daughter will be getting christened soon so that will be my dress for that AS WELL. PHEW.
3 birds. 1 stone.
Now coffee and to find that other credit card so i can get the exact balance... :coffee:0 -
Good luck with your journey.
Sorry to hear about your friend x0 -
Sounds like you've had a lot happen recently.
I'm subscribing to your diary to cheer you on.0 -
Thanks Purple Mum,
I'm back on track after the dress purchase :dance: using up leftovers for lunch and been through the cupboards and fridge to get dinner sorted.
Currently making a list of fresh fruit and veggies required for the rest of this weeks dinners!0 -
THANK YOU ESME WEATHER! :A
It may seem crass to think about money at a time like this but it's really made me realise what is important and that is time and family. In order to spend more time with family for me it will be decluttering and clearing down our debt and mortgage.
I've been decluttering for about 6 months, but money has not been a focus for some time now. NOT ANYMORE MY FRIEND.
Going to spend some of my free time here instead of shopping (for my daughter to be fair - but usually on stuff she doesn't NEED).0 -
Sorry about your friend.
We retired early aged 58 but started preparing for it late 20s but never too late. What I would say is the most important lesson we learned was budget, budget and budget. We allocated all our money out on paydays, some for bills, some for spending,some for holiday, car and house savings and some for long term saving and mortgage overpayments. Read Mr Money Mustache or blogs about FIRE.
Your debt is not horrendous but I would say needs dealing with before tackling the mortgage. Also having a balance of making memories with your children when they were young. We could have retired at 50 but we did lots of holidays when our girls were young and helped them financially with university, cars, weddings and house deposits when they were older and now with grandchildren. That delayed our plans somewhat but eventually we bit the bullet and went at 58.
So my advice would be start as you suggest. Cutting out unnecessary spending and maybe do a spending diary so you can see where this is. Do a budget and start up some savings pots. You will be surprised how quickly it becomes second nature. Also educate yourself over pensions and make a point of knowing what you have in place.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
Save £12k in 2025 #1 £12000/£70000 -
Enthusiastic you sound like a person after my own heart!
We are mid 30s (well 35/36). I've been following Mr Money Mustache. We seem to be starting alot older than some of them, but as you say it's never too late.
I want that balance of memories but also having the time to make them when the girls are older aswell and be able to help them out. Sounds very very silly but I have a dream of wanting to be able to take them out for dinners and pay for it all when they are at uni or work along with taking them on holidays with us! Even if they just come because the holiday is free I will just be delighted they come!!
We fritter ALOT, ALOT ALOT of money away so I really think if I tightened up on that I could make a good stab at the debt WHILST still going on the holidays etc!0 -
Morning everyone. I never really got to read anyones diary yesterday but since the girls have been up since the back of 5am I am sitting with a coffee reading some now whilst they watch BING (i am not a fan of the whiney little rabbit but my girls LOVE HIM, i do like though that they teach nice things and that parents (or whatever flop & co are) are present). We've have played, drawed, had breakfast, danced, dressed up and now, now we relax...at 8.30am
My eldest goes to nursery for the morning today so I usually nip to the shops and go for a coffee after but NOT TODAY. Today I'll pop to shops for some coconut and dried dates (going to make bliss balls) and thats it!
Last night's dinner was leftover chilli and some oven chips - forgot to take a picture for the gram for those that have popped over, sorry! We don't often have oven chips but usually after the family swimming at the weekend we go to D0bbies and get a bowl of chips and coffee (for mum and dad) however after our Aunties death my husband must have been taking stock aswell (unprompted by me at this point) as he suggested we save some cash and just buy oven chips and have them in the house.
We have the dobbies annual card so you get two free coffees a month when you buy it. IF you use it it is totally worth it and in two months you would have your money back (£15?). With the gardens and park and fish section it's a brilliant place for kids. Only problem is we usually buy a cake aswell and sometimes chips (probably why they do it) and go every weekend after the swimming even when we've long used up our free coffee for the month.
SO new plan is to now ONLY go when we have our free coffees and then buy one bit of cake. Make it a nice treat each month after the swimming instead of every weekend!
Okay need to head to nursery!0 -
Enthusiastic you sound like a person after my own heart!
We are mid 30s (well 35/36). I've been following Mr Money Mustache. We seem to be starting alot older than some of them, but as you say it's never too late.
I want that balance of memories but also having the time to make them when the girls are older aswell and be able to help them out. Sounds very very silly but I have a dream of wanting to be able to take them out for dinners and pay for it all when they are at uni or work along with taking them on holidays with us! Even if they just come because the holiday is free I will just be delighted they come!!
We fritter ALOT, ALOT ALOT of money away so I really think if I tightened up on that I could make a good stab at the debt WHILST still going on the holidays etc!
I think those are really good aims and we do in fact do that. My youngest daughter has two young children and holidays are low on list of priorities so we like to do family holidays to spend time with our daughters and our grandchildren and naturally enough as money is more plentiful for us we tend to pay for them although they always offer to pay a share. Same goes for family meals out. I remember years ago when our kids were small money was so tight but often my dad, although he did not tend to gift money much was very generous with paying for holidays and meals out. We would be adding up beforehand whether we could afford to go out but my dad almost always picked up the entire bill on the grounds he could easily afford it and did not want us worrying whether we could afford to go out with them. We now do the same.
I think you are right and if you look at the general frittering that is a great way to make almost painless savings. When I think of the packed lunches I took to work that was a quick saving. As you say the treats for the kids can be cut back with very little impact on them. Do they really need a toy every week or would a nice family holiday with quality time spent together be a better use of the money?
A massive apology to you in commiserating with the death of your friend when it was your Aunt. Brain not in gear obviouslyI think the death of someone really brings it home to you that life is short. My dad died at the relatively young age of 62 and lived life to the full but had no retirement. He was working right up until the end virtually. He did love his work but the heavy responsibility took a toll on his health. This is the primary reason why my DH and I decided that we wanted an early retirement plus we could both see the way things were going with our jobs and the stress was going up and up due to things outside our control.
I wish you all the luck in the world and hope you reach your goals.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
Save £12k in 2025 #1 £12000/£70000 -
Morning everyone. I never really got to read anyones diary yesterday but since the girls have been up since the back of 5am I am sitting with a coffee reading some now whilst they watch BING (i am not a fan of the whiney little rabbit but my girls LOVE HIM, i do like though that they teach nice things and that parents (or whatever flop & co are) are present). We've have played, drawed, had breakfast, danced, dressed up and now, now we relax...at 8.30am
My eldest goes to nursery for the morning today so I usually nip to the shops and go for a coffee after but NOT TODAY. Today I'll pop to shops for some coconut and dried dates (going to make bliss balls) and thats it!
Last night's dinner was leftover chilli and some oven chips - forgot to take a picture for the gram for those that have popped over, sorry! We don't often have oven chips but usually after the family swimming at the weekend we go to D0bbies and get a bowl of chips and coffee (for mum and dad) however after our Aunties death my husband must have been taking stock aswell (unprompted by me at this point) as he suggested we save some cash and just buy oven chips and have them in the house.
We have the dobbies annual card so you get two free coffees a month when you buy it. IF you use it it is totally worth it and in two months you would have your money back (£15?). With the gardens and park and fish section it's a brilliant place for kids. Only problem is we usually buy a cake aswell and sometimes chips (probably why they do it) and go every weekend after the swimming even when we've long used up our free coffee for the month.
SO new plan is to now ONLY go when we have our free coffees and then buy one bit of cake. Make it a nice treat each month after the swimming instead of every weekend!
Okay need to head to nursery!
Great ideas for savings and you are right that rationing yourself both in terms of money and buying food out is a good idea. My DD and her husband have one takeaway a month on payday as a treat which is something I think is a good idea. DH and I eat out a lot as we are retired and this is what we saved for but we got a free Dine membership for a year when using gocompare for car insurance and that often gives 2 meals for the price of 1 or free desserts or cocktails or something. Loads of local options and we use it when on holiday too.
Enjoy your day.I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
The 365 Day 1p Challenge 2025 #1 £667.95/£162.90
Save £12k in 2025 #1 £12000/£70000
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