SLLM (Single Lady Large Mortgage)

savingholmes

Sounds like you are doing amazingly well then. Enjoy the fruits of your labours... 

Sistergold

savingholmes said:

Sounds like you are doing amazingly well then. Enjoy the fruits of your labours... 

Enjoy the fruits of your labours...  🥳

Queen_of_the_Hive

I've been living on a low income for the past few years while the kids were little and the times when I didn't have a budget my spending went to pot, so for me a budget is essential. Its also helped me get out of the little spiral I was in. Am the first to admit I hate counting the pennies and being the boring one to say no to stuff. With the kids I recently set them both up with JISA - stocks and shares ones. It'll be interesting to see how they grow over time as the kids have the advantage of compounding. My parents were not into shares and the stockmarket when we were kids but now its the most reliable way to grow their wealth. 

savingholmes

Sistergold said:

savingholmes said:

Sounds like you are doing amazingly well then. Enjoy the fruits of your labours... 

Enjoy the fruits of your labours...  🥳

Thank you - I try too... 12 more sleeps and if the forms get back to the solicitor on time the house should just be mine (and the mortgage company's)

Friday1989

Sistergold said:

@savingholmes, that’s a good question/observation actually! And I like “nosey”! Where I think I am “bad” with money is that there are areas I spend and I just know I could avoid spending but I don’t?

I don’t have a food, clothing or anything budget I just buy when I need to. 🤷‍♀️ I can have “pots” for say birthdays, eating out or stuff but to be honest I don’t stick to them and if they run out I just top them up so it’s not like I will not do something because there is no money in the pot. Topping up sometimes also means taking money from savings! 😶‍🌫️🙊

I am turning fifty and have never ever sat down to make a budget 😳 I just do what I need to do at any one time. When I was saving for house deposit I was strict on spending but even then I never created a budget to stick to. I do keep out of debt in my spending but looks like all cash can be spent? 

Should I maybe tell myself it’s okay not to have a budget, spend what I want to as long as I can still save? 🤔

I relate to this a lot. Arguably I am good with money. I overpay my mortgage every month, don't have any debt except student loans, have money set aside to do my bathroom next year etc, but I don't budget at all. I never have. I am just consciously tight when I'm saving. 

Recently my spending has been ridiculous (pretty much breaking even each month but still overpaying my mortgage by £90). I don't even have anything to show for it! I've just been going out for dinner and drinks a lot and not caring about money. I do need to get a handle on it, but motivation is very low right now. 

I started my new temp job. It's a bit more money and so far it seems less stressful which is very good. There's an expectation I will become permanent when they advertise, as long as I don't mess up the interview! 

The number one thing I could do to save money is quit smoking. I plan to contact my local stop smoking service in the new year (no point trying to give up over Xmas and new year!)

Sistergold

savingholmes said:

Sistergold said:

savingholmes said:

Sounds like you are doing amazingly well then. Enjoy the fruits of your labours... 

Enjoy the fruits of your labours...  🥳

Thank you - I try too... 12 more sleeps and if the forms get back to the solicitor on time the house should just be mine (and the mortgage company's)

And today 11 more sleeps to sole house ownership! 🥳🥳🥳🥳

Sistergold

@Queen_of_the_Hive “ With the kids I recently set them both up with JISA - stocks and shares ones”. This is very good that you were mindful to do this! They will thank you for it! Xx

Sistergold

@Friday1989, I think that’s really how I go about it most times, “ I relate to this a lot. Arguably I am good with money. I overpay my mortgage every month, don't have any debt except student loans, have money set aside to do my bathroom next year etc, but I don't budget at all. I never have. I am just consciously tight when I'm saving. ”
I get moments of great abandon but I do generally keep some kind of sensible tight reign on my money, always doing certain things first. 

“Recently my spending has been ridiculous (pretty much breaking even each month but still overpaying my mortgage by £90).” I really relate to this, moments of great spending! 

@Friday1989, good luck on the new job, and fingers crossed you can stick to trying to quit smoking in the new year! Xx

savingholmes

Sistergold said:

savingholmes

Thank you - I try too... 12 more sleeps and if the forms get back to the solicitor on time the house should just be mine (and the mortgage company's)

And today 11 more sleeps to sole house ownership! 🥳🥳🥳🥳

Thanks I am getting excited at all the extra space I am going to have. I really want art, crafts and writing to take centre stage in my next phase of my life - while still keeping my main job. If I can make money from the former it will accelerate my mortgage neutral dreams and give me more options - but even if I don't make money it is a healthy release for me and keeps me sane.

Me_v_The_Mortgage_Mountain

@savingholmes, fingers crossed that everything goes through for you on 19th.  This weekend saw the anniversary of me buying my ex out, the feeling of relief and achievement was great and in the last 12 months I've managed to pay £9000 off of the capital so £122k mortgage left on a property worth £400k+.  

Re budgets, I have the Natwest app on my phone and have set budgets on there but I'm also a bit lax and will transfer money across from other accounts rather than say NO!  I am consciously cutting back on spending and have a diary for cash spends, I'm trying to use cash as much as possible as it's more real and I can see the funds literally dwindling in my purse!  I do have a couple of pensions but I don't think they will be very lucrative and I have no funds put aside for DD who will be off to Uni next year, aside from her Child Trust Fund and a Family Assurance policy, everything is being ploughed into the house as she didn't want to move so if when I retire I can't afford the house I will just downsize and free up the equity, or take in a lodger or two!