Katkatmachine’s Adventures to Mortgage Freedom and Life Updates

katkatmachine

Thank you very much @savingholmes.

Yes, the rise in the interest rates is really scary but it is what it is. I am just glad that we can still afford the mortgage though we may have to sacrifice a holiday or two and probably a couple of date nights. 

Thanks again for your comments. 

savingholmes

You're welcome

beanielou

Are you planning to pay your 30k savings off your mortgage before you remortgage? 

katkatmachine

No. It’s for our emergency fund. 

beanielou

That's some emergency fund!

katkatmachine

Is it? Our monthly expenses is around £3k per month, we want to have at least one year worth of emergency fund. 

savingholmes

Very sensible.

katkatmachine

Random thoughts...

Sometimes I wish that I am not too financially savvy. *sigh*

I just saw a friend's post on IG, he's at the airport on his way again to another holiday. I think he's been going on holidays every two-three months.  He told me before that he doesn't have any savings and uses all his salary to book holidays. He earns well btw, he's young and energetic, he's living the life. I am happy for him.

I just wish that I have that attitude. To go and to have fun not caring about money. To not be guilty every time you spend a pound on this and that. To just book a flight somewhere and not care how much will be left in your bank account after. To work, earn money, go on holiday, then repeat cycle. 

But I am not like that!!!! I worry about money. What if I lose my job next week? What if my partner loses hers? What if I get sick? What if we can't pay the mortgage? So many what ifs!!!! *sigh* Don't get me wrong, we also go on holidays probably twice a year, we could actually afford more but then we have target savings too... Holidays vs Savings... Why is this two so hard to balance? I want to go on a beach holiday but at the same time I want to reach our target savings this year. It's so hard.

I wish I have more money. I wish I'm not poor. I wish I could lose this money-mindset. I wish I can be like my friend. 

catclaires

I totally empathise with your thoughts about holidays/fun vs savings! It does feel like a constant juggling act, trying to decide what's best.

But I got in a lot of debt many years ago - when I didn't look at money or think about budgeting or ever keep anything spare for a rainy day - and it was absolutely horrible and led to a very stressful couple of years before I got things back under control. I'd much rather be more on the cautious side and know that I have minimised the risk of it happening again. Having a healthy emergency fund is very good for peace of mind.

I think you should be really proud of the savings you've built up while still managing to keep the balance and have some holidays! And I'm glad you don't have to deal with your idiot manager at work too often!

savingholmes

I think cutting your cloth to your income and desired savings rate is good. I had a day trip out today too spice things up a little and made it to the beach. I spent money on fuel and over a tenner on food but cheap compared to a trip abroad. There are low cost treats you can still do even while you have a money goal you are trying to hit