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2020: Becoming a Saver, Not a Spender
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[Deleted User]
Posts: 0 Newbie
Yes, it’s me with another diary 
However – my previous diaries were all about busting the bad debt. Mid-2019 I was “Determined to do it” and now I am “Becoming a Saver, Not a Spender”. In around 2 weeks, I will have paid the last penny to my £5k of “bad” debt I targeted in 2019, this year will be all about paying off my car finance and building up my savings along the way.
It wouldn’t be a New Year diary without some clear cut goals, and they are as follows (for any newbies to my diaries)
1 – Pay off my car finance. I am aiming to do this by mid-2020, then I will officially own my car outright. My original plan was to save at the start of this year and buy outright, but my old rusty car died rather suddenly.
2 – Save a minimum of £2k into my LISA. This should be very achievable when I am no longer paying £££’s out to high interest debt every month.
3 – Fill up my budgeting pots. I have a pot set up in Monzo for the following categories – Car Maintenance (Service, MOT’s, unexpected repairs or tyres), Dental Costs (To cover one annual dentist appointment, 4 hygienist appointments and one treatment at the highest treatment band), Annual Car Costs (Insurance and Tax), Hair Budget (highlights and haircuts), Gifts (Christmas & Birthdays) & Holidays. The idea is to budget each month for a worst-case scenario sum total, so that if things don’t go horrendously, there will be a nice buffer in some pots each year. I will also set up an EF with my bank for a better interest rate to pay into each month 😊 I have also signed up to the Virtual Sealed Pot challenge so will move pennies & pounds over each Friday, it’ll be interesting to see how much I can set aside doing this.
4 – Don’t accrue any more debt! With the above, there should be no need for this at all.
Non-finance related:
5 – Hit 50 parkruns, this was a goal for last year but should be feasible assuming my hospital assessment on Monday goes well.
6 – Lose 1.5 stone. This should be easy if I watch my diet and can resume high impact exercise when my foot is fixed
7 – Complete my gratitude journal for the year, which I purchased and will make sure is complete by the end of 2020.
I also signed up to the "20 things in 2020" from the Old Style Board, I’ll use the first post of this diary to copy those across, and do an update at the end of each month to see how I am getting on!
So, there you have it, my lengthy introduction and list of goals for the year. I waffle, I whinge, but thank you if you’ve read along with my previous diaries and have come along for this journey, too 😊
However – my previous diaries were all about busting the bad debt. Mid-2019 I was “Determined to do it” and now I am “Becoming a Saver, Not a Spender”. In around 2 weeks, I will have paid the last penny to my £5k of “bad” debt I targeted in 2019, this year will be all about paying off my car finance and building up my savings along the way.
It wouldn’t be a New Year diary without some clear cut goals, and they are as follows (for any newbies to my diaries)
1 – Pay off my car finance. I am aiming to do this by mid-2020, then I will officially own my car outright. My original plan was to save at the start of this year and buy outright, but my old rusty car died rather suddenly.
2 – Save a minimum of £2k into my LISA. This should be very achievable when I am no longer paying £££’s out to high interest debt every month.
3 – Fill up my budgeting pots. I have a pot set up in Monzo for the following categories – Car Maintenance (Service, MOT’s, unexpected repairs or tyres), Dental Costs (To cover one annual dentist appointment, 4 hygienist appointments and one treatment at the highest treatment band), Annual Car Costs (Insurance and Tax), Hair Budget (highlights and haircuts), Gifts (Christmas & Birthdays) & Holidays. The idea is to budget each month for a worst-case scenario sum total, so that if things don’t go horrendously, there will be a nice buffer in some pots each year. I will also set up an EF with my bank for a better interest rate to pay into each month 😊 I have also signed up to the Virtual Sealed Pot challenge so will move pennies & pounds over each Friday, it’ll be interesting to see how much I can set aside doing this.
4 – Don’t accrue any more debt! With the above, there should be no need for this at all.
Non-finance related:
5 – Hit 50 parkruns, this was a goal for last year but should be feasible assuming my hospital assessment on Monday goes well.
6 – Lose 1.5 stone. This should be easy if I watch my diet and can resume high impact exercise when my foot is fixed
7 – Complete my gratitude journal for the year, which I purchased and will make sure is complete by the end of 2020.
I also signed up to the "20 things in 2020" from the Old Style Board, I’ll use the first post of this diary to copy those across, and do an update at the end of each month to see how I am getting on!
So, there you have it, my lengthy introduction and list of goals for the year. I waffle, I whinge, but thank you if you’ve read along with my previous diaries and have come along for this journey, too 😊
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Comments
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1) 20 random acts of kindness
2) Read 20 books
3) Do 20 parkruns
4) Cook 20 new meals/recipes
5) 20 overpayments to my car finance
6) 20 minutes of self-care time per day
7) Say yes to 20 things I would normally say no to trying
8) 20 minutes of walking per day
9) 20 minutes of catching up with family in other parts of the country per week
10) Visit 20 new places
11) Try 20 new things
12) Write 20 pages of a book per month
13) Create 20 objects/craft projects
14) Donate £20 a month to a charity
15) 20 minutes of Yoga at least once a week
16) 20 date nights with OH
17) 20 minutes of cleaning the house each day to keep on top of the basics
18) 20 surprises for people close to me to brighten their day
19) TBC
20) TBC0 -
Great goals SSDD23! Happy New Year to you and looking forward to following your journey this year. I like the 20 things challenge!
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Great goals and challenges. Good luck with them all.
I'm on the journey from spender to saver - off to plan some goals for myself.
Happy new year0 -
Happy shiny new diary I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post 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 & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Good luck with the goals & the 20 20s, I'm going to try and do it too - so will be cheering you along. My working on 2 things a month/1 thing a fortnight to fit everything in.
Happy new year.
Wish.Outstanding mortgage: £23,181 (December 19)
MFW 2020 Challenge Member #10 0/£23180 -
1) 20 random acts of kindness
2) Read 20 books
3) Do 20 parkruns
4) Cook 20 new meals/recipes
5) 20 overpayments to my car finance
6) 20 minutes of self-care time per day
7) Say yes to 20 things I would normally say no to trying
8) 20 minutes of walking per day
9) 20 minutes of catching up with family in other parts of the country per week
10) Visit 20 new places
11) Try 20 new things
12) Write 20 pages of a book per month
13) Create 20 objects/craft projects
14) Donate £20 a month to a charity
15) 20 minutes of Yoga at least once a week
16) 20 date nights with OH
17) 20 minutes of cleaning the house each day to keep on top of the basics
18) 20 surprises for people close to me to brighten their day
19) TBC
20) TBC
Happy New Diary....whats this like erm 5 now.....:rotfl::rotfl::rotfl: Its amazing to see this is not a debt diary though and that is a symbol of your hardwork
I love the 20 things in 2020 what an amazing idea. Subbed to the diary to follow progress Good luck with all the goals. Days to Orlando: 462- ☀️🎢0 -
Happy New Year.
I have subscribed to your new diary
Love your 20/20 list If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them
Emergency fund 100/1000
Buffer fund 0/100
Debt Free (again) 25/0720250 -
Hello to everyone who has said hi :hello:
And happy new year!!!!
We did absolutely nothing last night bar watch the fireworks on the news to see the new year, bit boring but it is nice to wake up feel fresh on New Year's Day!
It's not even 10am and I have:
- Put the oven cleaning stuff in the oven/on the racks
- Thoroughly cleaned the downstairs loo
- Run a washing machine cleaning treatment through the washing machine
- Put a wash on
- Scrubbed the bath/shower
- Cleaned all of the kitchen counters
- Done all of the washing up and put disinfectant down the drains
I am just finishing up my coffee and checking in on here, then I need to:
- Move all bedding from airing cupboard to under bed now that we have the ottoman storage
- Go through my wardrobe and sort out/clear out/organize
- Finish cleaning oven when it's had the treatment on for long enough
- Hoover and mop all through downstairs
- Do the rest of the washing
That's about as much spring cleaning I can fit into my day and still have time to pamper myself in a bit, striving for a good balance of spring cleaning and self-care today!
Time to go and catch up on some diaries 0 -
That's a lot of spring cleaning! I thought I had done well just to unpack and pack the dishwasher!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/250
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