Easter 2025 I’m coming to get you!

savingholmes

Sounds like something I should investigate. I agree that you are doing amazing

LadyWithAPlan

Hettyhound said:

Hi @LadyWithAPlan, I’ve been reading that too!  I do like that challenge, really keeps me in check.  I’ve done an annual running total this year just for me.  I’d allocated £2,500 for the whole year based on £200 a month plus £100 contingency.  By the end of October I was at £1,840 so should be well under the target.  With prices going up I can’t really shave anymore from my £180 budget but I’m thinking maybe £40 to bulk fund each month and £140 for groceries.  I’m just not sure where to put the pet food; thinking maybe grocery to buy it on a regular basis as storage is limited here.

That is great grocery spending - I am annoyed I do not have an accurate annual so far  figure   I am starting to collate them
In testing this bulk and monthly for the first time this month I have dropped my monthly grocery challenge spending in Nov  to £140 (ha!) - it was £200 3 months ago)  but added a £100 bulk this month and will add a further £100 in January to the bulk. She is saying that when her bulk fund runs low she moves any excess from the month over. 
I don't include my household, entertainment, alcohol in that £140 monthly or the bulk, I have separte pots as my toiletries can get expensive..
  I am currently pet-less sadly but I used to have a pet saving pot separately for both vet bills and also their food/litter etc   - so you could keep adding to that each month. What kind of pets do you have?

Hettyhound

Had my booster today so taken to my bed for a rest.  I can’t believe where the year is going!  All Christmas shopping done, just to wrap up (my least favourite job).  Will also have to sort cards and the present I need to post.  Mortgage overpayments have stopped for a while as I need to boost savings a bit.  They will start again next year once my finances are reviewed yet again.  So from January we are returning to the “office” one day a week.  Our office has been shut so they have found space that is now booked out to us every Wednesday.  We have use of the whole floor that day.  We have a few things planned in the run up to Christmas but I did say no to my son going to a birthday party at a soft play centre.  We have compromised on having fish and chips for tea that day instead.  School have had cases recently and my boy was sent home with a headache and he wasn’t allowed back until we had negative PCRs (which they were).  Just been looking at a sainsbobs Christmas food order as I can’t be bothered with Christmas battles over sprouts! 

savingholmes

Hope you feel better soon. I had a sore arm for a couple of days after my booster but other than that have been fine thankfully. 

Sounds like a wise approach with your DS

Hettyhound

Hope you all had a nice Christmas and have managed to stay well.  I’ve not overpaid much recently as I decided to direct money into the savings and make payments from there.  Not much saving recently but Christmas was all bought and paid for without using any credit.  I have plans for 2022 regarding topping up my premium bonds which are my bigger savings pot and overpaying the mortgage a little bit.  My mortgage deal ends on 31.10.2022 and then I just plan to go onto the standard rate where I can overpay as much as I want without penalty.  The balance should be around £34k by this point so low enough that any deal would only make a few £s difference but the overpay restrictions would affect me more.  I really want to get a handle on the food shopping and meal planning so I aim to get 6 weeks of plans drafted that I can rotate, making sure I include lunches/snacks/suppers.  Will be saving travel costs a bit longer as our planned one day a week return to the office from January has been put on hold.  The plasterer still hasn’t been so renovations on hold a bit longer.  I plan to finish the blind and put it up in the study and paint my desk chair and make seat cushions with the left over blind fabric.  There’s always something to do 🛠

savingholmes

I like your decorating plans. What colour are you painting your desk chair?

£34K mortgage sounds a fab level... How long do you expect it to take to clear? Also consider whether you can balance transfer any of it somewhere cheaper than paying it via a mortgage when you come to the end of your fix....

Hettyhound

Hi @savingholmes 👋. The study itself will be pale cream ceiling and door/skirtings with a pale green wall (willow green, already bought in a 1/2 price sale).  The blind fabric and cushion fabric has shades of blue in it and a stylised tulip flower pattern on it.  The chair is going to be a pale blue to pick out one of the colours in the blind.  Once I get the plastering done then the desk and storage bed will be clad in a plywood with a clear Matt varnish over.  I’m hoping it will be a calm and restful place to work from.  I’ve already had some photos printed off and got a string of fairy lights with clips to decorate the wall by the desk with some happy memories 😊

Hettyhound

With regards to the mortgage I’ve given myself 4 years to clear the 34k which will take me about 18 months past we’re id like to be but it is what it is.  Keeping an eye on interest rates but currently my bank mortgage rate is 3.69% so I did my rough calculations based on 4%.  A lot can happen between then and now so no doubt targets and plans will keep getting revised.

savingholmes

The study plans sound pretty. I think with the mortgage - if you do clear it in 4-5 years you will be far ahead of most of the population....

Hettyhound

Morning all.  So I have signed up for MFW 2022 challenge again with a target of £2,500 overpayments for the year.  I also plan to put an extra £2,000 into my savings this year as I want to get them topped up a bit after the expense of car and roof in 2021.  I have also signed up to MFiT T6 with the target of reducing my mortgage by £25,500 in three years time!  If I manage this it will take it down to £15,000 left.  It was only when I sat with pen and paper and worked out potential monthly reductions that I realised just how much could be reduced in that time.  It is just guesstimate stuff as I will come off my fixed on 31.12.2022 but by moving onto the standard rate I can overpay as much as I like without penalty.   I’ve also started drafting up some weekly meal plans, there are cookery books everywhere at the moment.  Tonight is something from the freezer (mushroom and lentil pasta sauce).  As all bills seem to be going up (my fixed fuel deal ends in January ☹️) I need to maintain control on areas where I can.