regularsaver MFW journey - Achieving a dream.

Grogged

regularsaver said:

Do you guys agree that seems like a sensible plan?

I'd say so, because it all about how comfortable you feel now.
Your plans should develop over time as experience, knowledge, real life, etc. shape them.

For myself I do invest and it's a part of my long term strategy (sounds a lot more grand that it is...🤣).
That said, I don't buy shares in individual companies, as for me, that is a risk I don't want to take.
So I invest in funds and ETF (funds that trade as shares not units). I've also deliberately picked a platform that doesn't allow me to trade directly in company shares.  All my investments are treated as part of my pension fund, so are for the long term.
My wife is in the same camp as some of your friends - shares are too risky and don't invest.
That said, she does understand that all mainstream pension plans are invested in shares through funds.
Now that I've consolidated all my dormant pensions into a single SIPP that's invested in funds, it's not as evil as she thought, but she still wouldn't buy company shares.
My next project is to do the same for her, which I'll probably document its progress.

I see the frugal cottage has invested in the lifestrategy funds and that, or an equivalent, is a good place start, probably their 60 fund.  These aim to provide growth through investing in stocks and some protection against market falls through bonds.  In this case 60% stocks and 40% bonds.
I believe the new MSE courses are very good, so worth a look if you haven't already.
Take care.

regularsaver

Grogged said:

regularsaver said:

Do you guys agree that seems like a sensible plan?

I'd say so, because it all about how comfortable you feel now.
Your plans should develop over time as experience, knowledge, real life, etc. shape them.

For myself I do invest and it's a part of my long term strategy (sounds a lot more grand that it is...🤣).
That said, I don't buy shares in individual companies, as for me, that is a risk I don't want to take.
So I invest in funds and ETF (funds that trade as shares not units). I've also deliberately picked a platform that doesn't allow me to trade directly in company shares.  All my investments are treated as part of my pension fund, so are for the long term.
My wife is in the same camp as some of your friends - shares are too risky and don't invest.
That said, she does understand that all mainstream pension plans are invested in shares through funds.
Now that I've consolidated all my dormant pensions into a single SIPP that's invested in funds, it's not as evil as she thought, but she still wouldn't buy company shares.
My next project is to do the same for her, which I'll probably document its progress.

I see the frugal cottage has invested in the lifestrategy funds and that, or an equivalent, is a good place start, probably their 60 fund.  These aim to provide growth through investing in stocks and some protection against market falls through bonds.  In this case 60% stocks and 40% bonds.
I believe the new MSE courses are very good, so worth a look if you haven't already.
Take care.

Thankyou very much for this, its given me food for thought! 

Apologies for my slow reply too.

regularsaver

Good afternoon all, 

Its been a little while since I checked in as, no doubt like you all, live has been really busy and I don't know where the days and weeks are going at the moment. I really have so much reading of peoples threads on here to do also, which I mentioned in my last proper update I would do and have so far failed. 

Everything has been going ok from my side over June and now into July so far. I have just made July's OP of £150.42, which takes me up to £853.58 of my £1159 target. So on this side of things, its going well so far. 

It feels like June has been a little bit spendy, I purchased some masks which were pretty expensive, they are single use too although I have been using them a few times before discarding. They are the KN95 type. I really need to find some good re usable/washable ones to keep the costs down as 5 of those ones were £20! As well as that my Amazon Prime membership renewed and I had to buy the first tank of petrol for the new car. I seem also to have managed to spend a little more on food over the last month than I usually do, although there have been a couple of household items to purchase which I also include from my good budget such as laundry items etc. I will be keeping a careful eye on this over July. 

Do any of you guys have any recommendations for re usable masks or much cheaper disposable ones? I feel like re usable ones would be better so as not to generate so much waste but interested to hear your recommendations and advise. The nurse at the Dr advised the thicker the gause/material they are made from, the better and she even mentioned she often wears two at a time to make it thicker. 

Its looking like I will need to purchase a new grass strimmer this month too as mine broke. I have had it a little over a year and a half and it was a hand me down when I got my house and had been owned and used for some years before that so its done well to last this long. Just debating electric corded or battery powered. 

I have been getting out for my daily exercise still which is good, plenty of walking and have now also been getting back into my running too. Slow progress but progress none the less. 

Aside from that its been the usual work, overtime, house stuff etc. 

Hope you guys are all well and staying safe, anyone off out to the pub or all steering clear? 

Grogged

Glad things are going ok!

We bought some of the cotton masks from Amz for £20, they look like the disposable ones. There was little choice for fast delivery at the time. They've worked out well from us.

As for the pub, we'll be giving that a miss for now after seeing how well it went at the beaches... 😮
ATB G.

regularsaver

Grogged said:

Glad things are going ok!

We bought some of the cotton masks from Amz for £20, they look like the disposable ones. There was little choice for fast delivery at the time. They've worked out well from us.

As for the pub, we'll be giving that a miss for now after seeing how well it went at the beaches... 😮
ATB G.

Thankyou Grogged, 

Hope all is well with you and you are staying fit and healthy! Talking of the masks again I have purchased some more this month, but re usable ones from Boots which have worked out well so far. Good choice on avoiding the pubs! A drink in the garden sounds so much more appealing at the moment I am finding. 

regularsaver

Good afternoon everyone and happy August. Yet again another month has flown by, I have no idea how or where it has gone to be honest. Work has been ridiculously busy again and that's definitely a good thing! 

I have just made Augusts over payment of £100.89. A but lower than usual months but I seem to have somehow managed to spend a lot more on food this month, although I also buy household goods from my food budget too and I have had to get a few of those. However, that now takes to me to £954.47 over payed and the target for 1% is £1159 so I am getting close now. I wasnt sure when I began if it would be something I could keep up, but I was determined and have stayed consistant so far and it looks like another 2 months should hopefully see me hit the target. So I guess I need to have a think about what happens when I hit the target. Do I continue, or do I put the money towards home improvements till the start of next years challenge etc. 

What do you guys do if you hit target early? 

I have been getting back into my running, doing a 5k distance. The last few weeks I have been getting out on my lunch break at work to take deliberate time away from my screen to get exercise and I have been averaging twice a week which I would like to get back up to my normal 3 and see where I go from there. I do enjoy it, whilst it can feel hard, I always feel good when I finish and my times have been coming down, albeit fluctuating a little in the warmer conditions. Hot generally means slower, but I have been focusing on just getting the distance done and I am sure the times will come. 

Once again I have not managed to get back on here to read other peoples threads and for that I am very sorry, work and spare time have been against me. However, I am going to try very hard to get on here and address that as I want to gain inspiration from others journeys and support you all, as you have me. I do hope you are all staying fit and well and making the best of the current situation. 

Grogged

regularsaver said:

What do you guys do if you hit target early? 

Move the goal posts! 😂😂😂

The easiest thing to do would be to bank it, then you can take some time to see if you get OP withdrawal. 😎 It can easily be put towards a new improvements goal if that's what you decide.

I blame these 5 week months for overspending...

ATB,
G.

South_coast

regularsaver said:

What do you guys do if you hit target early? 

Yep, increase the target here too 🤣! But I'm probably not a good role model 😀

Grogged's suggestion is a good one x

regularsaver

Grogged said:

regularsaver said:

What do you guys do if you hit target early? 

Move the goal posts! 😂😂😂

The easiest thing to do would be to bank it, then you can take some time to see if you get OP withdrawal. 😎 It can easily be put towards a new improvements goal if that's what you decide.

I blame these 5 week months for overspending...

ATB,
G.

Hey Grogged, 

Thats an interesting idea! Some thinking to do! I agree on the 5 week months lol!!

regularsaver

South_coast said:

regularsaver said:

What do you guys do if you hit target early? 

Yep, increase the target here too 🤣! But I'm probably not a good role model 😀

Grogged's suggestion is a good one x

Hey South_coast, 

Increasing the target or continuing is also another good idea, having never been in the position before, its an interesting conundrum. Thanks for your thoughts, I shall have a little think. The first thought I had was just carrying on and see what I can hit by the end of the year.