Try again and try harder

Last years money saving plans went right out of the window as did lots of my other plans .I have been waiting for today ,for a new year to try and motivate myself back in to action so here i am again..
I am afraid my numbers are more or less the same , i paid off several debts last year as i was afraid that if my husband could not work we would struggle to pay everything so i feel much happier that they have all been paid off..
So mortgage remaining is still £100,000 over 5 years ,its actually 4 years 11 months but near enough ..So plan as before is to save £400 a week by tightening everything down especially my food budget that grew to well over £100 a week and up to £150 some weeks in the latter part of the year .I have joined several challenges so that should help me ,i just need to stay connected ,i dont work so i have plenty of time to spend on the challenges so i have no excuse.

These are my aims this year .
1.To save £400 a week in order to pay off my mortgage in 5 years time 
2.To cut down on sugar and other unhealthy foods and keep my weekly food budget to sixty pounds a week plus another thirty pounds a week allocated to Amaxon where i buy all our supplements and vitamins etc and a few foods 
3.To exercise more and aim for my 10,000 steps per day 
4.Back on The Millionaires Challenge where i will sell items around the house and garden etc and then find a way to double up the money that i earn ,i was doing so well at this early last year so need to carry on 
Most important of all is to try and stay positive and healthy ,keep myself occupied so as not to think so much about things .
5.Give to the food bank weekly .Continue with my DD to charities and add another 2 or 3 now to my list ,choose carefully 
This is more than enough to be going on with but if i have it written down and keep looking back now on my list hopefully it will keep me motivated ,i am naturally a very lazy person .
Happy new year to everyone



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Comments

  • Busy_Mee
    Busy_Mee Posts: 422
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    Good Morning Try Harder and Happy New Year. It is lovely to see you back and motivated again
  • try_harder
    try_harder Posts: 1,527
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    Thank you BM and a very happy new year to you too
  • dunstonh
    dunstonh Posts: 115,616
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    How much are you compromising in other areas to try and achieve being mortgage free?
    For example, a lot of people in this section are making poor decisions by prioritising overpaying the mortgage instead of paying into a pension.  Especially higher rate taxpayers or those that would get increased tax credits from paying into a pension.

    For many in here, mortgage overpaying is the key priority and everything else isn't important.    It is somewhat ironic that some of those overpaying their mortgage as quickly as possible will have to end up using equity release in retirement costing them far more in interest than had they taken a more balanced approach to their planning.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • powerspowers
    powerspowers Posts: 1,100
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    Well done for getting back on the wagon try harder! 
    I know what you mean re food bill! 
    Yours is taking a big chop if it was £100-£150 to £60, what are your strategies for getting it down? Not suggesting it’s not doable but thinking about how you are going to do it and make it easy to stick to. 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £500/ £3,600


  • try_harder
    try_harder Posts: 1,527
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    powerspowers...Number one change will be to stop buying sweet treats , i have been consoling myself over the months with cakes and biscuits so this alone should shave off a fair bit .I have also sorted through my freezer and made a meal plan ,then put all the food we will be eating in one week in to two carrier bags so that i dont have to rummage through to find something at the last minute ,i now know exactly what we will be eating so there will be no wasted food. We have completely cut back on meat and we are eating mostly vegs and pulses ..I have five grown up children and i have asked them if when they come to eat they bring one or two of the ingredients that we will be having that day ,i now do mostly jacket pots for everyone with either tuna and sweetcorn or cheese ,they usually bring the salad or the tuna and sweet corn ,it works well .so we shall see how it all goes
  • try_harder
    try_harder Posts: 1,527
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    Day one of the year was a NSD which is hardly surprising i guess although i did manage to stop myself buying even more new books ,my book shelves are heaving ,i am so looking forward to when the library reopens ,i am reading some online too but they are limited..Three very small sales on ebxy ,two wrapped ready to go and one being collected in person this morning , i need to list a couple more items today , i am hoping the one pound final fee will appear soon so that i can list some larger priced items ,only around twenty pounds in total but thats a great start ,no spending and twenty pounds in !!
  • try_harder
    try_harder Posts: 1,527
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    Week 1 ..
    Saved £400 which i am very happy with ,i have invested it in to my ISA , i am going to divide it between my husbands ISA and mine ,one of which is growth based and the other income.
    I made £69.47 this week on my MC , i have decided to put the money from this every week to the mortgage overpayment so this has been paid in today.
    Food budget this week has stayed within the £60 , of course it was easier as we had quite a lot of food in our fridge and freezer but i am still very happy with that
    I have set up savings pots for hols ,birthdays ,car etc and divided the year by 52 so week one filled 
    Healthy eating this week has been very good but exercise not so good 
    Aims for week 2 ..I definitely wont be able to save £400 this week but hopefully it will even itself out over the year so anything this week will be very good ..I need to exercise more thats for sure , i just dont like the cold plus im lazy...Also keep to £60 food shopping  this week
  • powerspowers
    powerspowers Posts: 1,100
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    Sounds like a good start tryharder! We’re still eating the Christmas cheese here, although OH did go food shopping after Christmas. Keep on it.
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £500/ £3,600


  • Good luck with your plans @try_harder,  our food budget really increased since the first lockdown started last year. I guess we all treat ourselves a little at the supermarket to compensate for the situation we are in. I love that you are giving to food banks and additional charities whilst making your own cut backs. 
    New to all this!
    Mortgage balance 01/01/21 £181,400. Scheduled repayment date Aug 2036. 
    Target savings to overpay in 2021 £12,000
    Progress to date  £7105/£12,000 
  • beanielou
    beanielou Posts: 89,260
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    Hope all goes well  :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing [email protected]. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

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