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Cutting it Fine - the challenge is on!
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Clothes sound like a morale booster. I think buying better quality does pay.
Nice to see you back posting. Glad things are settling for you.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/252 -
Thanks savingholmes. I'm trying to get back into my moneysaving ways.
"Think of many things, do one"
Mortgage 30 Sep'25 est. £208,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga2 -
I've been posting all the way through - but still feel I've over-spent recently. I don't know how I'd cope if I stayed off the forums for a while. Could easily fall into bad habits.
Good that you are getting back on track.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/251 -
Thanks savingholmes, its so easy to spend - especially on small value items - but I know its time to be a saver not a spender again. Getting shot of the credit cards and loans was such an amazing feeling - I definitely don't want to go back there again. Luckily DH and I are in agreement that we now only spend what we can afford and don't carry any debt (apart from the mortgage).
I had a proper look at the MSE home energy pages and we are currently the average household users, so its easy to see how our bills will be rising sharply again in August. We should receive the £400 discount over the winter to offset a bit but it looks like we'll be spending another £150-£175 a month. Not good but I feel better understanding it and how it will affect our budget. I'll definitely be looking for ways to reduce the energy we use as the colder days arrive."Think of many things, do one"
Mortgage 30 Sep'25 est. £208,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga3 -
I'm glad you know what to expect - although the price cap is only due to be announced Friday and it looks like it could be a lot worse than the original forecast. I don't know what to do other than use as little as possible! I will use an electric blanket instead of heating where I can... except when it's just too crazy cold... In the past we were above average users... Don't know where we are now...Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/252 -
I know savingholmes, its all a bit unknown, but it just feels wrong to fix when we'll be paying the same amount or similar. Just holding onto that rollercoaster "Think of many things, do one"
Mortgage 30 Sep'25 est. £208,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga2 -
Lots of moaning going on by the family Shores today, and I'm just not in the mood to absorb it. Thought I'd cheer myself by coming on here and looking at my spreadsheet/mortgage neutral amount. I last did the calculation in March, and today's figure is showing another £5k towards my target. I need to get my new pension calculation to see what my lump sum will be after another year's worth of payments in. If I add that on as well I'll probably be in the 160s. I'm not counting my personal savings - they are mine all mine! Just the mortgage account against our pension lump sums and household savings. Next month will definitely be the month for overpayments - need to start up again even if its only £50 a month. Also to start some serious saving towards that MF day. "Think of many things, do one"
Mortgage 30 Sep'25 est. £208,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga2 -
Glad you are making solid progress.
Family can be a pain or a blessing. Hope things improve soon.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/251 -
Thanks savingholmes, all good in the shores' house again, thank goodness
"Think of many things, do one"
Mortgage 30 Sep'25 est. £208,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga2 -
I find it astonishing how easy it is to let the CC balance creep up. I only got a CC again to help my credit score and its so easy to swipe it and keep my money in my current account whilst CC balance climbs... I always pay it off in full having decades ago spent too much on one and said never agin.. as soon as I have got my mortgage I will be freezing the thingSandyShores said:Thanks savingholmes, its so easy to spend - especially on small value items - but I know its time to be a saver not a spender again. Getting shot of the credit cards and loans was such an amazing feeling - I definitely don't want to go back there again. Luckily DH and I are in agreement that we now only spend what we can afford and don't carry any debt (apart from the mortgage).
I had a proper look at the MSE home energy pages and we are currently the average household users, so its easy to see how our bills will be rising sharply again in August. We should receive the £400 discount over the winter to offset a bit but it looks like we'll be spending another £150-£175 a month. Not good but I feel better understanding it and how it will affect our budget. I'll definitely be looking for ways to reduce the energy we use as the colder days arrive.
Electric blankets and heated throws will be on my purchase list next month!DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest3
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