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Cosy blanket

edited 30 November 2020 at 1:55PM in How much have you saved?
423 replies 4.9K views
longway2golongway2go Forumite
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edited 30 November 2020 at 1:55PM in How much have you saved?
I just wanted to introduce myself and tell you a bit about my thoughts and goals. 
I normally spend time on the MFW bored and have been putting money towards overpayments on my mortgage but I have in the last few weeks come to the realisation that before I continue I need to ensure we have a nice cosy security blanket and a few other things in place. Our EF is currently 4766.70 but I would like it to be 12k, it doesn't really have a suitable home atm so I need to find one. 
We also need to build up some money for work on the garage roof, the boiler which is on its last legs and money for our next tax return (we have a btl). 
Thanks for reading. 

Mortgage Aug 2019 161,000 :eek::eek::eek:
Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂
EF 0/12,000 (0%)😕 (5062.44 was ERC)

Aim for 135,062 by Jan 2022 for 3 year challenge - 1058 to go

Our Mortgage is never going to be as high as it is today. :j
Onwards and downwards to a better life for our family. :j
Just keep swimming
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Replies

  • MovingForwardsMovingForwards Forumite
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    Welcome LW2G, good to have you over here too!

    Are you knitting your blanket or doing it patchwork? I think the latter would work well, if you can work out how many squares are needed to reach a full one. Each square can be 'made' when reaching a certain figure.

    Do have a look at the accounts I mentioned on your MFW diary. The little bit of interest each month does help and saves having to dig even further into the sofa at times.

    Try and keep a separate account or pot for your maintenance and upgrades as they are planned items.

    I'm sure you will be snuggled up, warm and relaxed next year 🤗
  • longway2golongway2go Forumite
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    Thanks MF, given my knitting skills I think we would be better with patchwork lol, and definitely like the patchwork square idea, maybe a square for every 100....off I go to create a lovely excel blanket  :)
    I think the garage roof funds will be needed soon, didn't plan that well did I so I may need to use Dec pay and a bit of EF pot bit will definitely build suitable homes for my various squirrels in relation to tax and boiler. 
    Ohhh I hope I will, would love a nice fire to snuggle in front of but that's further down the line. 
    Mortgage Aug 2019 161,000 :eek::eek::eek:
    Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂
    EF 0/12,000 (0%)😕 (5062.44 was ERC)

    Aim for 135,062 by Jan 2022 for 3 year challenge - 1058 to go

    Our Mortgage is never going to be as high as it is today. :j
    Onwards and downwards to a better life for our family. :j
    Just keep swimming
  • MovingForwardsMovingForwards Forumite
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    Forumite
    Oooh, loads of squares, that's going to be comfy.
    Between making your blanket, feeding the squirrel and the piggy there's a lot to keep occupied.
    It's ok to do a little bit of one or two while concentrating on the third for a few months, it's all about financial awareness and thinking ahead like you are doing 🤗

  • Skint_yet_AgainSkint_yet_Again Forumite
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    Hi longway2go it’s lovely to see new people in this quiet but friendly corner of the forum 🤗

    Well done on your emergency fund savings so far and mortgage overpayments. Your patchwork project sounds amazing and I love the idea of making a square for every 100 saved 😁 I look forward to following your journey and seeing that blanket grow! 
    0% credit card £1360 ~ paid in full
    0% Car Loan £7500 ~ paid in full
    JAN 2020 = NOW DEBT FREE

    House sale/ purchase costs First house purchase offer accepted 20/5/22 fell through 8/7/22 due to sudden serious illness of seller
    Insurance 2 x £90 Searches £300. Survey refund received
    Offer accepted on another property 2/8/2022

    Aiming to retire early age 60 🥳
  • longway2golongway2go Forumite
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    Ahhh thank you do much for your lovely message, I need to catch up on a few diaries in this area  :)
    Mortgage Aug 2019 161,000 :eek::eek::eek:
    Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂
    EF 0/12,000 (0%)😕 (5062.44 was ERC)

    Aim for 135,062 by Jan 2022 for 3 year challenge - 1058 to go

    Our Mortgage is never going to be as high as it is today. :j
    Onwards and downwards to a better life for our family. :j
    Just keep swimming
  • edited 2 December 2020 at 10:38PM
    longway2golongway2go Forumite
    995 Posts
    Part of the Furniture 500 Posts Name Dropper
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    edited 2 December 2020 at 10:38PM
    So today I am pushing 6.36 towards my blanket.. Probably about a stitch but still better than nothing, thanks pr0l1f1c.  Cosy blanket fund now 4773.10 and I have a mini goal to get to 4800. 
    I have now split the EF a bit as I needed to for an account switch and tbh works out quite nicely as a garage roof fund holding place temporarily....atm 500.01 is in this pot (included in the above). 

    OH and smalls went to get a tree today and somehow managed to get a lovely big tree for 19. Apparently B3q had overstocked on 1 type of tree so discounted a handful of them and OH was in the right place at the right time. The tree is up and I must say I am loving it in the bay window. We treated ourselves to some long overdue blinds this year but they make such a difference.  I did consider pushing a bit more spends to savings because of the tree saving but I have introduced a new pot system.  I want OH to see if it is properly managed the month is easier and he will be a bit more on board and therefore don't really want to squirrel money off and it look like we don't have enough. I know it's only day 2 of December but I think this slight change will help. 
    Been a stressful week tbh with big work changes, a poorly little boy and lack of sleep. 
    I may have spent a bit on stuff for the elves   :D but should have enough in the Christmas pot to use although I must admit they were impulse ama3on purchases. 
    Thanks for reading. 
    Mortgage Aug 2019 161,000 :eek::eek::eek:
    Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂
    EF 0/12,000 (0%)😕 (5062.44 was ERC)

    Aim for 135,062 by Jan 2022 for 3 year challenge - 1058 to go

    Our Mortgage is never going to be as high as it is today. :j
    Onwards and downwards to a better life for our family. :j
    Just keep swimming
  • MovingForwardsMovingForwards Forumite
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    That's a very good start for the month LW2G. Splitting the money is easier if done sooner than later.
    I firmly believe having an EF as a standalone pot, which only gets used if the worst happens, enables the mental separation of it not being one which gets dipped into. 
    Having a planned, or unplanned, maintenance pot also provides a much needed buffer. I know I've gone to the extremes with my pots, but it works for me and every eventuality is covered.

    What a bargain your OH picked up! A bay is the perfect place, almost as if homes were designed for that one time of year. He will start to come round to thinking differently, it's the whole 'lead by example' thing which causes the light to flicker.
  • longway2golongway2go Forumite
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    That's very true about the mental split. 
    I'm so glad that work is over for a few days now and I can chill with my boys and finish prepping for Christmas. 
    I haven't been out if the house since Saturday, so will make the effort to take the boys out for a play tomorrow. 
    Money wise I have had a tiny bit of money back from H3rc (12.75), so putting that and survey money of 2 towards the blanket. So EF now  4787.85.  I also did a bit if MR at lunch which will give me a 15 voucher abd when it's paid to me my blanket will get a bonus to offset it and another square will be complete. A few other bits in the pipeline but not counting my chickens until the eggs are firmly hatched.
    My mortgage ap has locked me out so need to get tgat sorted so I xan see my new balance and decide on my next target. 
    Mortgage Aug 2019 161,000 :eek::eek::eek:
    Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂
    EF 0/12,000 (0%)😕 (5062.44 was ERC)

    Aim for 135,062 by Jan 2022 for 3 year challenge - 1058 to go

    Our Mortgage is never going to be as high as it is today. :j
    Onwards and downwards to a better life for our family. :j
    Just keep swimming
  • Skint_yet_AgainSkint_yet_Again Forumite
    6.7K Posts
    Tenth Anniversary 1,000 Posts Name Dropper
    Forumite
    Your tree sounds fab 🎄 Savings and surveys are all looking good. Hope the weather is good for you tomorrow, kids are so resilient they don’t seem to notice the cold 🥶 Long gone are the days when I would go out clubbing without a coat, or even just go out or go clubbing come to that 😆
    0% credit card £1360 ~ paid in full
    0% Car Loan £7500 ~ paid in full
    JAN 2020 = NOW DEBT FREE

    House sale/ purchase costs First house purchase offer accepted 20/5/22 fell through 8/7/22 due to sudden serious illness of seller
    Insurance 2 x £90 Searches £300. Survey refund received
    Offer accepted on another property 2/8/2022

    Aiming to retire early age 60 🥳
  • longway2golongway2go Forumite
    995 Posts
    Part of the Furniture 500 Posts Name Dropper
    Forumite
    Haha you did bring back a few memories of cold nights in town all for saving a bit on the cloak room. I am also past both and tbh very pleased about it.  :D
    Mortgage Aug 2019 161,000 :eek::eek::eek:
    Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂
    EF 0/12,000 (0%)😕 (5062.44 was ERC)

    Aim for 135,062 by Jan 2022 for 3 year challenge - 1058 to go

    Our Mortgage is never going to be as high as it is today. :j
    Onwards and downwards to a better life for our family. :j
    Just keep swimming
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