Head out of the sand. Saving for a shiny future

savingwannabe

Hello Forrest, I feel the same sometimes but we gotta make the most from it as far as possible as they will drag us back before we know it.  I know we have achieved lots so far and we have to keep at it in between our bouts of illness. I hope your health is better and you have a good day I think the weather will improve. If you can do some lovely cooking, ring a friend, do a little job in the house. Have a good day bless you.

ForestBluebells

I got quite a lot done yesterday, just normal household basics like laundry but I felt like I got a lot done. I’ve decided to read my book in the garden for a bit today and then I’ll crack on with some more jobs. I got paid from my online job today so tonight that will hit my bank and into my pension it goes 🙌 I decided that I’m going to focus on pension contributions this year then next year I’ll have paid off my student loan and another pay rise should mean I have about £250 extra per month to save somewhere so that will be when I start overpaying the mortgage. Probably £50 extra in pension and £200 to overpayments. We shall see...

savingwannabe

You are so focussed it's brilliant. By the time you are my age you probably wont need to work as you are so switched on. It's wonderful. 

ForestBluebells

savingwannabe said:

You are so focussed it's brilliant. By the time you are my age you probably wont need to work as you are so switched on. It's wonderful. 

Except I’m 35 and late to the savings game and have a lot of catching up to do 🙈

MovingForwards

ForestBluebells said:

savingwannabe said:

You are so focussed it's brilliant. By the time you are my age you probably wont need to work as you are so switched on. It's wonderful. 

Except I’m 35 and late to the savings game and have a lot of catching up to do 🙈

Don't fret, I'm nearly a decade older and have catching up to do 🙊🙊🙊

ForestBluebells

Don't fret, I'm nearly a decade older and have catching up to do 🙊🙊🙊

Yeah that’s why I’m so focused as I had a big panic that I’d never be able to retire so I’ve done a lot of calculations (which vary wildly 🙈) but think I’m on track as long as there are no hiccups. I intend to over save and hopefully if the worst case scenario happens I’ll still be ok. If the best case scenario happens I might be able to retire a few years earlier than state pension age. I still need to move to a “final” home as although I love my flat I do want a house eventually.  I’m currently saving £200 a month in a S&S ISA. This is for later life but intended pre retirement if needed. I can maybe use this to upgrade in the future or at least to pay off the mortgage. I’ve still got £128,000 mortgage on my own currently 🤦‍♀️

MovingForwards

Have you sat down and worked out your outgoings? Exclude mortgage, savings, commute costs, clothes, food and any other expenses you pay for the privilege of working as you may need a lot less than you think.

Mine works out to about £500pm, based on current prices. That's utility bills, car and related expenses, insurances, food etc.

ForestBluebells

MovingForwards said:

Have you sat down and worked out your outgoings? Exclude mortgage, savings, commute costs, clothes, food and any other expenses you pay for the privilege of working as you may need a lot less than you think.

Mine works out to about £500pm, based on current prices. That's utility bills, car and related expenses, insurances, food etc.

Really??

mines over £1000 a month and that’s me being frugal! It’s not letting my paste my budget for some reason 

MovingForwards

ForestBluebells said:

MovingForwards said:

Have you sat down and worked out your outgoings? Exclude mortgage, savings, commute costs, clothes, food and any other expenses you pay for the privilege of working as you may need a lot less than you think.

Mine works out to about £500pm, based on current prices. That's utility bills, car and related expenses, insurances, food etc.

Really??

mines over £1000 a month and that’s me being frugal! It’s not letting my paste my budget for some reason 

Have you removed mortgage, savings, work related costs? Because it shouldn't be that much!

MovingForwards

£100.00 Utility bills (gas, elec, net)

£120.00 Council tax (Inc water)

£35.00 Phone

£100.00 Food

£100.00 Car expenses (insure / repairs / MOT charge / tax)

£20.00 Home Insurance

£450.00 TOTAL

Are my basic outgoings, with the work related, savings and mortgage stripped out. Gives me £50 for petrol, which is nearly two tanks, but I wouldn't be using that much when retired!