Savings Diary: BDays, Xmas, Controlling Impulsive Spending

MovingForwards

Knowing where money goes is a good step forward. Keep it going then next year you've a good comparison and have a better idea on what to do.

I'm used to keeping in touch remotely as I would only meet up a couple of times a year.

Skint_yet_Again

Scarves sound great 😊 I wish I could knit. My DM tried to teach me years ago but I could never get the hang of it. I don’t think I could do it now with the pain I get in my hands I can’t hold a pen some days so no chance of knitting 😆

lindsay54v3

@MovingForwards luckily having been more responsible with my money for so long in the past I'm finding adjusting quite easy, should see significant improvement over the next couple of months!

@Skint_yet_Again a relative taught me when I was about 9, 14 years later I find its a nice way to reconnect with my memories of her, can only do simple things but have made a knitted rabbit in the past so I'm sure any leftover wool will be good for experimenting! It is quite tough on hands, sorry to hear about your pain! If you have some interest in crafts I know things like crochet you can get ergonomic needles? Not sure your cause but my relative had arthritis and adjusted her tools and methods to reduce any pain so she could still enjoy her hobbies  

lindsay54v3

Update

Had a long look at mortgages, deposits, fees last night. Speaking to my OH we're currently sitting at almost half of the minimum deposit I think would be reasonable for houses in the areas we're looking at. Aiming for minimum 20% deposit, the lower the amount we have to borrow the better and we're currently in a good position to be saving. 

With a goal of moving out in 4-5 years this goal could easily be surpassed, still need to work on building a savings for all of the fees that go alongside purchasing a home but I have plenty of time for that also. Feeling very motivated and excited right now, already having a lump sum and now a determination to save as much as possible, I think I have a realistic timeline! Will continue to work on everything else necessary, don't currently have a credit card so my credit score is sitting at fair, but intend on getting one soon to start improving that score! My intentions for a credit card is to use it for my usual purchases, but treat it as I do my debit card. Only spend what I have and pay it off immediately

MovingForwards

The credit score and rating are not seen or used by lenders when assessing applications, it's the credit history so no late / missed payments, no defaults etc. Keep an eye on the content.
With CCs pay them straight after the statement is produced, paying it straight after spending means it never shows you can manage credit.

That's plenty of time to save the deposit, get the fees together, save for furniture and have savings for savings sake.

Keep motivated and always have one eye on the goal. 

lindsay54v3

@MovingForwards oooh, thanks for the info! I've always just had it explained as pay it off straight away, didn't realise it meant after a statement

savingwannabe

I am so impressed by your maturity. If i had saved more I would have retired by now! You are miles ahead of me. You will be sorted house and everything really soon. Hooray. 

I am envious of all those that can make things. I want to do a nice sewing course but that will cost money and will have to wait as the garden is my priority this summer. So excited about nice weather which might be happening soon. 

lindsay54v3

@savingwannabe Aw thank you, that's nice of you to say! The job I'm aiming for isn't an amazingly high salary (anywhere from 17k to maybe 22k as experience grows) but it's what I'm passionate about so I'm more than happy living within my means and being realistic about property! If anything it's additional motivation to save more money now to make things easier down the line. And today I received a conditional offer for the next level of the course, so as long as I pass this year (which I'm on track for) then all is good

Needle felting is one of my favourite things, places like Hobbycraft sell beginner kits for a few pounds with all of the felt and needles, and they're fairly quick and easy to do, can even find videos online for it Anything particular planned for the garden? Creating a nice outdoor space to better enjoy lovely weather is definitely something to look forward to!

Skint_yet_Again

Always go for a career you are passionate about if you can and adjust your lifestyle accordingly rather than do a job just because it pays the bills. 

I chose my current job because it offered job security and more than paid the bills but things have changed over time and now it is not enjoyable and I feel stuck for the next few years until retirement. I can’t say I’ve ever been passionate about the work. 

A couple of years ago I tried to retrain to work with animals but I left it too late in life. I interviewed well but they wanted part time workers on low hours which I couldn’t live off. 

MovingForwards

Totally agree about work and passion, we spend enough of our day doing it. I only took mine as I wanted any job, paying over a certain amount, to get a mortgage, it's just a case of making the most of the few good parts of it, saving up and having plans to move on in time.

Congratulations receiving a conditional offer for the next level.