Cutting it Fine - the challenge is on!

debtfreeoneday

Glad you made a decision about making decisions!

SandyShores

Thanks debtfreeoneday

D'you know, I have been so tired lately and overthinking things.  I'm really looking forward to a few days of rest soon.  I think we all are in need of a break though, its been a long couple of years and Omicron is really not helping.  Still, I have to be grateful for the positives - so we are debt-free, we have a lovely home and food on the table.  Being cooped up together has caused a bit of strain every so often, but a positive that has come out of it is that we have talked so much more than we ever have before.  Even Mr Shores was saying gratitudes this morning, lol.  It is nice to hear though that he appreciates he has a good life.  

We are almost all set up for Xmas now, we don't buy huge amounts but I don't like to run out of the essentials so have enough to last us over the next week or so.  Just the veg and meat to buy later this week, I'm trying to think of something healthy, light and easy to make on boxing day.  I also need to pop out for a couple of cards, stamps and one final gift tomorrow. 

I had a go at streamlining the spreadsheet today, ready for 2022.  Although I will probably stick to the same format for now as it works for me, I did a summary and talked it through with Mr Shores and we are going to allow ourselves some more personal spends for saving.  I think we've reached a good compromise, so will still be able to build up the proper emergency fund by another £5k, and I'm going to have a target of £5k OPs next year.  Planning to make this house into a proper home next year, I'm looking forward to adding some personal touches inside and out.

savingholmes

Your streamlined spreadsheet sounds good. Is that more personal spends rather than just saving and OPing - or did you mean more individual savings?

debtfreeoneday

We always do a crackers/salad/ dips/ crisps/ cheesy rolls/anything goes Boxing Day. It’s the meal I look forward to the most!  

More spends sounds good despite debt and mortgage focus. Life goes on and this process has to fit in alongside that. We’ve had times when we doing everything at the debt and it was really hard. But more of a balance these days. 

Like you I’m grateful for all the family time and connection the last two years. Even though hub has driven me up the wall at times! 

SandyShores

It is more personal spends savingholmes, so it will mean less to the OPs and the Emergency Fund (yikes).  But I have had the reins very tight and Mr Shores needs a bit more for one of his outside the home interests.  He only has two, and both are very healthy and social so I'm not grumbling (too much ).  I've already spent lots this year, so mine will be going into my savings - I've got almost £200 in my ISA and getting on for £500 in PBs (as well as the £6k for the EF).

I know what you mean about it being hard debtfree we were virtually vegetarian at one point I was so strict with the budget, but its paid off.  I like to think that we are more balanced these days too.  It makes me nervous to spend rather than save as I really can't go back to how we were before - but life does go on and we have to enjoy our lives.  I love your buffet style boxing day food - that's my favourite, I love crackers, cheeses, cold meats and the best thing is no cooking.  

So I was paid on Monday, which means I updated the spreadsheet last night.  We now have almost £2k in the actual emergency fund, which feels good.  I've also made an £80 OP to the mortgage so after the 1st Jan payment, by my calculations, we will have 15% equity in our home, which feels even better.  15% equity is the point where the bank will lend us more to cover our H2B loan so we now have more choice.  We should have our full actual EF saved by May/June, so will think about H2B then.  We have a few more years to run but there's something tidy about having it all ourselves, any growth being ours and of course starting to pay it down.

debtfreeoneday

Great progress on the house equity.  As well as the emergency funds and savings!  Well done 

SandyShores

Thanks debtfree.  Just 18 months ago we weren't in a position to buy without H2B and now we are - it feels really good - more choice if we want it.  I'm really thankful we took the plunge when we did.  We'll be focussing on the emergency fund for the next 5 or 6 months - we'd planned to have that saved last May, but we've spent such a lot on the house - well worth it though.  

I was reading someone's thread yesterday that they were now under £200k on their mortgage.  Made my heart sink a little as ours will be a bit shy of £300k when we take on the H2B part.  Such a lot of money, but we can do it!  It always makes me chuckle when I'm saving 5 pences here and there, and then we owe so much to the mortgage people.  But every little helps and it feels good to be paying it down.  I think we own the downstairs loo now - maybe we'll move onto the hall and front door next

savingholmes

Everyone starts somewhere. As you say you are building equity with each repayment.

debtfreeoneday

Every little does indeed help.  

SandyShores

Thanks debtfree and saving.  Year 2022 is going to be my year of positivity.