Powers’s mortgage free thread

sugar-walsh

Enjoy your stay in the lakes, it's lovely and quiet up here at the moment. X

savingholmes

Hope your trip to the Lakes is beautiful and that the weather is kind and you get some exercise and some rest.

Well done on speaking to your boss. 

You are making great financial progress but it sounds like you are stretching yourself a little thin with all the things you're trying to cover. Do you have pots for annual bills? I find it really helps to set a direction for the year - but still tweak the budget monthly as sometimes unexpected things crop up.

powerspowers

Hmm good question SH! 

I regularly used to save £500-£600 a month and now that goes into the joint to cover (half) the higher mortgage payment and (half) the overpayment. After the money shuffle I’m left with £750 which covers:
£6 phone (my only actual commitment!)
£30 OP for student loan
£75 charity donations 
£11 other subscriptions 
leaving me with around £630 for personal spends. Which sounds loads!! I’m trying to save £200 of that a month. 

My problem comes when I overspend and put things on the cc which I pay off at the start of the month, leaving things tight for that month. This month it was £173 for lakes and £150 April hol. In hindsight I should have taken that out of the holiday pot as that’s what it’s there for! But I’m trying to build the pots up not  reduce them.,. Hmm. Not sure on the answer. I do think I’m living in my means so it’s just a case of sorting the admin out and getting the balance right. I also forget to put diesel in my budget as I forget that it’s my car too 😂 

savingholmes

It sounds like you need to break your personal spends down further... Including saving towards annual bills, clothes etc. I literally have a line for art, dining out, clothes, hobbies, fuel, food etc...

powerspowers

Thanks SH! I’m a bit reluctant to have too many pots, i don’t know any to over complicate things! 

@sugar-walsh it wasn’t quiet in Keswick today! I think everyone was avoiding the rain like us! Yesterday was glorious though, we did the coastal path from st bees to Whitehaven. 

sugar-walsh

Yep, the rain drives everyone inside. My weekend now, hoping the sun will return... Who am I kidding?
Shout if you need any cafe/restaurant recommendations. 

savingholmes

It's beautiful up there. Hope the weather is better tomorrow. 

Aimingforthegoodlife

Oh I do love the lake district! Hope the weather cheered up for you! I am a little like you, I like to build up my pots and feel sad when I have to use them for their intended purpose

greent

I don't like too many pots either - but if I was you and did run out of money this month I would transfer the least amount possible from the holiday pot on the basis that you've effectively subbed it a good amount this month 😀

powerspowers

Bit chilly but a quality mountain day up Scafell PIke followed by dinner  happy times! Home tomorrow 🙂