Cutting it Fine - the challenge is on!

SandyShores

Thanks savingholmes, I've been doing calculations on £10k, but think it will probably be nearer to £5k.  Nervous to commit the money to a fixed rate savings, but the alternative is to pay it off the mortgage so no difference.  It will be in the new year so can mull it over for a few weeks yet.

I cashed out the Checkoutsmrt, but its still showing as payment requested - I've a vague memory of payments every other week.  It will be about £13 so will go towards Christmas spends.  I also received my Am@zon points voucher for £9.33 which will come in handy for something.  Four receipts away from a fiver on Huyu and I did a big shop at Asd@ yesterday and earned another £1 on Rewards so now at £6.

Had the heating on quite a bit today, it was so cold.  Can't wait for it to turn a bit warmer, hopefully by the weekend.

savingholmes

I've had the heating on a lot today as it got down to -7 or so overnight and is due to be worse tonight - and then should start to get better.

Good luck with the savings. Some of the regular savers offer good rates and allow withdrawals.

SandyShores

It was a bit warmer today, but noticed that a lot of rain forecast from tomorrow.  Just realised only one week until Christmas day now, how did that happen without me noticing - being ill and busy probably.  I'm looking forward to an early payday next week and have finally started to spend the Xmas saver money.

Thanks savingholmes, I've been looking at the savings starting with the banks I already have accounts with - there's a 5.12% variable rate at Barclays, and a 2.6% fixed easy access at Sainsburys or a 2 year rate for about 3.6%.  I'd like to put £5k in a fixed 2 year, and the other £5k into the Barclays variable easy access account, then another regular saver account needed for the mortgage overpayments around £1k per month (may need one each).  MSE advises to wait a few days to see what happens with the rates, so I'll check all the rates out over the Xmas break.  Savings will mean a bit more money than paying off the mortgage and I like the flexibility it gives us when we come to remortgage.

GOALS:
Money

• Build emergency fund to £6k - achieved
• Start making overpayments to the mortgage or savings

Home

• Decorating - its a new house so we don't have repairs or anything but its all those finishing touches
• Gardening - same as the decorating, basics are there, but would be nice to put our stamp on it

Personal

• Get around to making a start on the craft supplies
• Healthy habits - exercise and eating

Work

• Learning for my current role
• Learning for a new career

savingholmes

Goals sound great. 

Well done on investigating savings options. Sounds like you are on the right track.

SandyShores

Thanks savingholmes, its a nice problem to have.  I've got £5k I can lock away for 2 years but will wait a few days to see what the interest rates do.  Then the Barclays one sounds good -  5.12% but only up to £5k, and I'll need to put away more than that over the next 2 years or pay it off the mortage.  So I need to find a regular saver or savers where I can do that.

My healthy lifestyle and home goals are on hold at the moment due to being not very well (and being very busy at work).  But I have been decluttering a bit more and have been donating unwanted items to people (we have a local fb group) and I've a few items for the charity shops too.  I'm slowly getting my craft area sorted, which will help with my personal goals.  I have been working on the 'Work' goal, but there's so much to do and not enough time to do it so I need to work on being more assertive and creating better boundaries between work and home.  When you are exhausted its no good for home or work.

SandyShores

Okay, so health lifestyle goal - just spotted this:

• 2 pints water daily
• Water can include squash/high juice and some have added vitmins
• Multivitamin tablet with B vits and especially B5
• Avoid sugar and other stimulants
• Tea - 2 cups of weak tea allowed a day
• Coffee limited to the occasional treat
• 3 servings of protein a day combined with carbs
• Fish on three days a week
• Seeds are healthy snacks
• Exercise - gym, yoga pilates
• Breathing, meditation
• Use aromatherapy - especially in bath oils and fragrances
• Connect, talk to someone, listen to music, go for a walk and get sunshine and fresh air
  

If I can just do a few of things I'll be on the right track.

SandyShores

Not doing great on the healthy goals, but I've made a start.  There's quite a lot to remember, but it really is just about building habits isn't it and occasionally giving yourself a nudge.  I'm going to follow LadywithaPlan's example and use the Xmas break for reflecting and planning for 2023.

savingholmes

Best of luck with all your goals.

SandyShores

Thanks savingholmes.  I've just come across another one to add to personal, which is some pampering.  I've got a stash of face masks and moisturisers to use up.

SandyShores

Trip to the big Boots today to use up the points on the 3 for 2 presents - it all looked very decimated and everything I had my eye on was gone.  I've had a quick look online and it looks like there is more available in the smaller store in my local town so I'll call in there tomorrow on my way to an appointment.  It also looks like everything I wanted is reduced so that might work out well (or not who knows)  It could mean I'll get to keep the points to spend on myself.  

Great excitement that the new year is almost here and we are finally in a position to start demolishing the mortgage.  We used H2B so its strange to see that our equity has risen hugely because of price rises, but the amount we owe on the property hasn't dropped as much as we'd like because the value of the H2B has risen.  Luckily we've both had promotions, so that (and the equity) will mean no problems getting a remortgage to cover.  But there's no point doing it whilst its interest free and prices unsure, so the plan is to save (or overpay) as much as possible by then.  As a back up plan only, we have pensions/lump sums that we can take early if absolutely necessary (e.g. interest rates are high).  I'm going to use the current market price of our property to estimate current H2B, together with our actual mortgage to calculate the amount left to pay on the property - it means the amount could go up as well as down. 

Edit - I've just updated my signature and realised I need to separate the £6k emergency fund and put the house savings aside - either into OPs, or into fixed savings that won't be touched, so I can take that off the total amount left to pay.