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Future Proofing my life: Deposit saving then MFW journey in under 13 years
LadyWithAPlan
Posts: 3,617 Forumite
I have been reading lots of these MFW diaries over the last few weeks, some 300 odd pages long and tracking a decade or more of life. They have been fascinating, very inspirational and given me some great ideas.
I am looking to buy within the next year, and then get MFW and o/p as soon as I can. My savings rate, income generation and focus has been a bit lacking over the last few months. The MFW diaries are a great kickstart to remind me that this is a mammoth task but I need to start soon, rather than talking about it and get going on the house bit. I never wanted to buy but 2020 made me realise I do want a place to own and so my pension and MFW journey is about establishing a firm base and future proofing my life.
So this is a diary to keep myself on track with my finances, get some great ideas and start 'eating that frog' as one of the contributors talk about on here. Just thinking about writing this first entry has got me realising I need to make some decisions and stick to them.
I am single, freelance, a first time buyer and somehow over 50 (not sure how that happened) so I am looking at buying my flat in the next year then paying the mortgage off in time in the next 13 years max. I may have to wait til next April for affordability or I could probably get a contract based mortgage now but I am wary of taking on such a big debt as my savings do help me feel secure as it's just me.
Goals
Goal 1: Build House deposit further to £100k (or £130k but thats seems a lot)
Goal 2: Buy somewhere nice and affordable in London with a balcony, terrace and/or garden in 2022.
Goal 3: Once I am in the flat then save 15% gross income to SIPP and then all else goes to O/P
Goal 4: Overpay mortgage and get it paid off asap - 2035 is the goal date for MFW
Where I am at
I currently have a house savings of £67,711.70 including stamp duty and solicitor fees etc but this is not enough in London where I live and work.
I would like to go in at about a £400,000 flat - I would like a 2 bedroom if at all possible as it gives me room for a lodger if I get into difficulties and an absolute requirement is some outdoor space even if its just a balcony but thats probably £425k or £450k so the bigger the deposit the better.
I am aiming to save to hit £100,000 in the next year then buy but that may be too ambitious, £33k in a year... My current rent is not ridiculous (about 12% gross income) and I love where I live in, I could probably be here for a couple more years if I wanted but the flat prices in London keep rising, albeit at a slower rate at present than outside London.
I can't see me wanting to live anywhere but London as it has been my home for decades and I work here so I need to get on fire and focused as it is a big task ahead and just me to motivate myself and do the work.
3 areas of focus
Savings:
I have a 6 month EF but this is on current 6 months bills - once I buy, my mortgage will mean it will only be 3 months EF so will need rebuilding asap.
I have a help to buy ISA (the govt help 25% is not included in my totals).
About 20% of my house savings is in a S&S ISA, I have made £2.5k plus on that so I am happy to take that risk in the market.I invested all the way up last year.
I love the ideas on this forum so I have done my first tilly tidy this weekend and moving my tax savings into a separate 0.6% acct so I am clear that all my one account is just for the house so I can get inspired by the rising balance. The amounts are so big I need something
Income;
I am freelance and lost a lot of my normal work due to COVID but took on a well paid project that was 5 days a week in 2020 hence my savings, but now is more like 2.5 to 3 days a week so this has slowed my savings down plus of course we now able to go and about again to see friends and family.
I also have a few other small freelance jobs that I do regularly that bring in an extra £500 pm+ but I am wondering if I should try and get a new 5 day a week freelance contract job at a much higher rate which I could- but there is long term potential in my current freelance job as a restructure is going ahead so maybe just a 2 day a week extra job elsewhere might work in the short term - I have been sticking my head in the sand over this as the 3 days a week has been going on all year and I need to make a decision that supports my goals but I also want to support the small company and people.
I also match bet, do low risk casino and also small amounts of football trading - I average over £4000 annually over the last 2 years - at the end of each month I check all my bookies accounts and then whatever is over my £4000 float (all MB profit and counted as part of my house savings) then that extra gets counted as new income and moved into savings and pension. As I am at 40% tax rate this is a great side hustle for me.
It is hard to say exactly how much I can save right now as my freelance income varies but if I do want to save a further £33000 in a year to hit that 100k thats £2750 a month. I was saving more than this last year each month but as my freelance days have dropped I need to really make a decision on how I am going to tackle that and hit my goal.
I have had some pretty lean years income wise but in the last 2 years I moved work away from my dream job to something that I do enjoy but pays the bills more easily. I sadly think I need to keep on this track, and do my dream work on the side in this next year to get me in my flat though, then I can re think. This is about a plan to get me to win in this area of my life, to future proof it.
I am also writing a programme to sell online as an extra income stream, just editing it now. It is taking forever but I just need to make it a focus as I am allowing it to stop me going after extra freelance work. I keep saying 'when I have finished it then I will update my CV etc' for months now...
Budget:
I budget at the beginning of each month and I have done for a decade plus, hence my savings and an ability to be fairly MSE...
I have lots of saving pots for all my expenses eg £200 pm grocery and annual bills.
However I saw on the forum lots of people take the excess they had not spent in one category each month end and swept it into the O/P fund. I did this with my excess food budget end July so that was nice to see the savings deposit jump. It also gives me a great reason to not overspend as then I get the joy of seeing the savings deposit grow faster. So lots of Too Good To Go and yellow labels happening right now
Debt
I only have one debt of less than £6000 which is not interest bearing. I could pay it off but I am choosing to leave it at present and paying it monthly. It annoys me but the £6000 is useful where it is. I have a credit card I only got this year to help with my credit score but I buy things I have budgeted for and then pay it off often within a week. I never want to go in debt again with a credit card, I did it once but having a budget fixed all that for me.
Pension vs Mortgage - part of the future proof.
Reading so many great diaries where people are looking at their last working years before retirement and aiming to pay off their mortgage or be mortgage neutral by then has been very useful to focus me.
I saved £15,800 in my SIPP last year (SIPP now at £26k) as I felt very behind and as a higher rate tax payer it is so worth allocating money to my pension instead of house savings with the 40% tax relief. However this tax year so far I have put in £3034.51 only into my SIPP as I need to get into my home asap and build up that deposit. Plan is once I am in the flat to then kick up to 15% gross income to pension and then all else goes to O/P
I have a £6600 pa DB pension that kicks in 8 years time which I plan to pause, plus I should get in 15 years time the full state pension so approx £15,708 per year at current figures. I know I will need more income when I retire in 15 years obviously with the goal of paying the mortgage off as well before then. But with the 40% tax relief I am currently at, I hate pausing my SIPP contributions this year but I think I need to for this year to focus on maximising the deposit and get on the property ladder first.
Any thoughts on this pension vs savings debate most welcome.
Current 2021 Goals
House savings 11/08/21 £67,711.70
House savings goal £2750 per month (Aug done but was part July income as well)
Savings £67,711.70 / £100,000
SIPP 11/08/21 £26,731.30
This includes 2021/22 personal contributions £3034.51 + the hmrc 20% extra so £3,793.13
I am assuming I will hit higher tax rate status again 21/22 so additional 20% tax relief will come off my tax bill.
Programme £300 per month made once launched
NSD per month 0/8
Personal goal lose 1 kg per month
How to achieve my goals over the next 4 months...
Get clear what my freelance income allows me to save each month at current rate of income after taxes and my savings pots. I did save £2750 in August so far but I was paid weird in July and August so it was a 2 month lump saved so hard for correct monthly figures.
To save £2750 per month moving forward I need extra income either from more freelance work, or get a new job OR an extra part time job so...
First this month August I finish my programme and launch and market it - earn money from that (£300 /month = goal but this is a figure plucked out of the air)
THEN decide if I need to apply for another part time freelance job or focus on selling the programme.
Pension - put 25% of any MB income to my SIPP at the very least just to see it grow.. so approx £100/month
Tilly tidy bank accounts each Friday to .00 pence at least
8 NSD (no spend days) - I have tried over the last week and failed every day..
Do more competitions (I have done well in the past on this for gifts, entertainment and even won cash)
Look at doing cashback starting with my purchase of a robot vacuum - largely financed by gift money)
Ebay £100 of stuff in August- I need to declutter anyway
Gym 5 days a week, eat well from fridge and freezer, sleep.
I am looking to buy within the next year, and then get MFW and o/p as soon as I can. My savings rate, income generation and focus has been a bit lacking over the last few months. The MFW diaries are a great kickstart to remind me that this is a mammoth task but I need to start soon, rather than talking about it and get going on the house bit. I never wanted to buy but 2020 made me realise I do want a place to own and so my pension and MFW journey is about establishing a firm base and future proofing my life.
So this is a diary to keep myself on track with my finances, get some great ideas and start 'eating that frog' as one of the contributors talk about on here. Just thinking about writing this first entry has got me realising I need to make some decisions and stick to them.
I am single, freelance, a first time buyer and somehow over 50 (not sure how that happened) so I am looking at buying my flat in the next year then paying the mortgage off in time in the next 13 years max. I may have to wait til next April for affordability or I could probably get a contract based mortgage now but I am wary of taking on such a big debt as my savings do help me feel secure as it's just me.
Goals
Goal 1: Build House deposit further to £100k (or £130k but thats seems a lot)
Goal 2: Buy somewhere nice and affordable in London with a balcony, terrace and/or garden in 2022.
Goal 3: Once I am in the flat then save 15% gross income to SIPP and then all else goes to O/P
Goal 4: Overpay mortgage and get it paid off asap - 2035 is the goal date for MFW
Where I am at
I currently have a house savings of £67,711.70 including stamp duty and solicitor fees etc but this is not enough in London where I live and work.
I would like to go in at about a £400,000 flat - I would like a 2 bedroom if at all possible as it gives me room for a lodger if I get into difficulties and an absolute requirement is some outdoor space even if its just a balcony but thats probably £425k or £450k so the bigger the deposit the better.
I am aiming to save to hit £100,000 in the next year then buy but that may be too ambitious, £33k in a year... My current rent is not ridiculous (about 12% gross income) and I love where I live in, I could probably be here for a couple more years if I wanted but the flat prices in London keep rising, albeit at a slower rate at present than outside London.
I can't see me wanting to live anywhere but London as it has been my home for decades and I work here so I need to get on fire and focused as it is a big task ahead and just me to motivate myself and do the work.
3 areas of focus
Savings:
I have a 6 month EF but this is on current 6 months bills - once I buy, my mortgage will mean it will only be 3 months EF so will need rebuilding asap.
I have a help to buy ISA (the govt help 25% is not included in my totals).
About 20% of my house savings is in a S&S ISA, I have made £2.5k plus on that so I am happy to take that risk in the market.I invested all the way up last year.
I love the ideas on this forum so I have done my first tilly tidy this weekend and moving my tax savings into a separate 0.6% acct so I am clear that all my one account is just for the house so I can get inspired by the rising balance. The amounts are so big I need something
Income;
I am freelance and lost a lot of my normal work due to COVID but took on a well paid project that was 5 days a week in 2020 hence my savings, but now is more like 2.5 to 3 days a week so this has slowed my savings down plus of course we now able to go and about again to see friends and family.
I also have a few other small freelance jobs that I do regularly that bring in an extra £500 pm+ but I am wondering if I should try and get a new 5 day a week freelance contract job at a much higher rate which I could- but there is long term potential in my current freelance job as a restructure is going ahead so maybe just a 2 day a week extra job elsewhere might work in the short term - I have been sticking my head in the sand over this as the 3 days a week has been going on all year and I need to make a decision that supports my goals but I also want to support the small company and people.
I also match bet, do low risk casino and also small amounts of football trading - I average over £4000 annually over the last 2 years - at the end of each month I check all my bookies accounts and then whatever is over my £4000 float (all MB profit and counted as part of my house savings) then that extra gets counted as new income and moved into savings and pension. As I am at 40% tax rate this is a great side hustle for me.
It is hard to say exactly how much I can save right now as my freelance income varies but if I do want to save a further £33000 in a year to hit that 100k thats £2750 a month. I was saving more than this last year each month but as my freelance days have dropped I need to really make a decision on how I am going to tackle that and hit my goal.
I have had some pretty lean years income wise but in the last 2 years I moved work away from my dream job to something that I do enjoy but pays the bills more easily. I sadly think I need to keep on this track, and do my dream work on the side in this next year to get me in my flat though, then I can re think. This is about a plan to get me to win in this area of my life, to future proof it.
I am also writing a programme to sell online as an extra income stream, just editing it now. It is taking forever but I just need to make it a focus as I am allowing it to stop me going after extra freelance work. I keep saying 'when I have finished it then I will update my CV etc' for months now...
Budget:
I budget at the beginning of each month and I have done for a decade plus, hence my savings and an ability to be fairly MSE...
I have lots of saving pots for all my expenses eg £200 pm grocery and annual bills.
However I saw on the forum lots of people take the excess they had not spent in one category each month end and swept it into the O/P fund. I did this with my excess food budget end July so that was nice to see the savings deposit jump. It also gives me a great reason to not overspend as then I get the joy of seeing the savings deposit grow faster. So lots of Too Good To Go and yellow labels happening right now
Debt
I only have one debt of less than £6000 which is not interest bearing. I could pay it off but I am choosing to leave it at present and paying it monthly. It annoys me but the £6000 is useful where it is. I have a credit card I only got this year to help with my credit score but I buy things I have budgeted for and then pay it off often within a week. I never want to go in debt again with a credit card, I did it once but having a budget fixed all that for me.
Pension vs Mortgage - part of the future proof.
Reading so many great diaries where people are looking at their last working years before retirement and aiming to pay off their mortgage or be mortgage neutral by then has been very useful to focus me.
I saved £15,800 in my SIPP last year (SIPP now at £26k) as I felt very behind and as a higher rate tax payer it is so worth allocating money to my pension instead of house savings with the 40% tax relief. However this tax year so far I have put in £3034.51 only into my SIPP as I need to get into my home asap and build up that deposit. Plan is once I am in the flat to then kick up to 15% gross income to pension and then all else goes to O/P
I have a £6600 pa DB pension that kicks in 8 years time which I plan to pause, plus I should get in 15 years time the full state pension so approx £15,708 per year at current figures. I know I will need more income when I retire in 15 years obviously with the goal of paying the mortgage off as well before then. But with the 40% tax relief I am currently at, I hate pausing my SIPP contributions this year but I think I need to for this year to focus on maximising the deposit and get on the property ladder first.
Any thoughts on this pension vs savings debate most welcome.
Current 2021 Goals
House savings 11/08/21 £67,711.70
House savings goal £2750 per month (Aug done but was part July income as well)
Savings £67,711.70 / £100,000
SIPP 11/08/21 £26,731.30
This includes 2021/22 personal contributions £3034.51 + the hmrc 20% extra so £3,793.13
I am assuming I will hit higher tax rate status again 21/22 so additional 20% tax relief will come off my tax bill.
Programme £300 per month made once launched
NSD per month 0/8
Personal goal lose 1 kg per month
How to achieve my goals over the next 4 months...
Get clear what my freelance income allows me to save each month at current rate of income after taxes and my savings pots. I did save £2750 in August so far but I was paid weird in July and August so it was a 2 month lump saved so hard for correct monthly figures.
To save £2750 per month moving forward I need extra income either from more freelance work, or get a new job OR an extra part time job so...
First this month August I finish my programme and launch and market it - earn money from that (£300 /month = goal but this is a figure plucked out of the air)
THEN decide if I need to apply for another part time freelance job or focus on selling the programme.
Pension - put 25% of any MB income to my SIPP at the very least just to see it grow.. so approx £100/month
Tilly tidy bank accounts each Friday to .00 pence at least
8 NSD (no spend days) - I have tried over the last week and failed every day..
Do more competitions (I have done well in the past on this for gifts, entertainment and even won cash)
Look at doing cashback starting with my purchase of a robot vacuum - largely financed by gift money)
Ebay £100 of stuff in August- I need to declutter anyway
Gym 5 days a week, eat well from fridge and freezer, sleep.
DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
17
Comments
-
I can see that was the worlds longest post (sorry!) but I have realised I enjoy reading the minutae of everyone's calculations.
I am planning to buy a flat in the open market hence me saving as opposed to shared ownership or help to buy which I could do now. Has anyone got advice or experience on this? It looks like help to buy is expensive but S.O flats also seem more expensive than in the open market and there is the rent portion to pay. I am in London so.DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest8 -
In moving my tax savings to a new acct - so it is separate from my house savings, my Marcus
house savings acct was at £39,966.85 - so I have had to move £33.15 to make it a cool £40,000 tilly tidy, now need to see where I can move it from....
( I have other house savings acct but this Marcus one is the big one)
so update
Current 2021 Goals
House savings 11/08/21 £67,711.70
House savings goal £2750 per month (Aug done but was part July income as well)
August savings extra added from 11th Aug start of the diary =
11/08 £33.15
Savings £67,744.85 / £100,000
SIPP 11/08/21 £26,731.30
This includes 2021/22 personal contributions £3034.51 + the hmrc 20% extra so £3,793.13
I am assuming I will hit higher tax rate status again 21/22 so additional 20% tax relief will come off my tax bill.
Programme £300 per month made once launched
NSD per month 0/8
Personal goal lose 1 kg per month
DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest6 -
Well you definitely have a plan 🤣🤣🤣! You sound very organised and determined, so I'm sure you'll get there. No helpful advice to add, but I'm looking forward to seeing how it pans out 😀Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!6 -
Thanks for the encouraging words South Coast. I think reading most the diaries on here for the last few weeks really helped me get focused.South_coast said:Well you definitely have a plan 🤣🤣🤣! You sound very organised and determined, so I'm sure you'll get there. No helpful advice to add, but I'm looking forward to seeing how it pans out 😀
So yes now the hard bit is following my plan I did have my first NSD though today in well over a month
DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest8 -
It's good to have a plan and something to aim for! That's half the battle.Spreadsheeting has helped me a lot, keeps me focused during the long slog. You could try setting some up and also playing with mortgage calculators etc.You might want to make a post on the pensions forum board - they'll be able to work out the relative efficiencies of pension/SIPP v mortgage/deposit savings. If you can do salary sacrifice to your pension, that wins financially every time for HRT payers.Good luck on your journey
4 -
Thanks @ElmoR I will check out the pensions board. I am self employed so I am not always HR taxpayer but I am at present.ElmoR said:It's good to have a plan and something to aim for! That's half the battle.Spreadsheeting has helped me a lot, keeps me focused during the long slog. You could try setting some up and also playing with mortgage calculators etc.You might want to make a post on the pensions forum board - they'll be able to work out the relative efficiencies of pension/SIPP v mortgage/deposit savings. If you can do salary sacrifice to your pension, that wins financially every time for HRT payers.Good luck on your journey
I think I will set up a spreadsheet to track end of month spending - although I do love a paper monthly budget as I can scribble all over it DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest6 -
I have realised I said yesterday was my first NSD but I now remember I had to pay for a dentist thing over the phone in the morning so I was wrong!!
This NSD is difficult even when you are in the house. Today I have to pick up something and see a friend so I will have travel and a coffee to buy at least ..
On the back of @South_coast wonderful diary I am going to start tracking 'free money'.
August Free Money
Nectar points used £17.50DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest6 -
Tilly tidy 0.73p from bank as had a bit extra interest 3p!
Current 2021 Goals update
House savings 11/08/21 £67,711.70
TODAY House Savings £67,745.58/ £100,000
House savings goal £2750 per month (Aug done but was part July income as well)
August savings extra added from 11th Aug start of the diary =
£33.88
Programme £300 per month made once launched - not finished edit yet
NSD per month 0/8 - failing at this
Personal goal lose 1 kg per month - lost 0.3kg so far this month by eating well, in gym 2 x this week and no crisps!
DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest5 -
You seem to have a comprehensive plan and I will be following your journey.
My 2p is put dates on what you want to achieve and work backwards from there.
For example you want to move in June 2022 (other dates are available in 2022) - what do you need to do to accomplish that?
This will allow you to focus on what you need to do now.
You can always change things, plans always evolve and are never complete.
It's great to see how much progress you've made and your thoughts behind that.
Take care, G.If it's not adding up, compound it!7 -
Thanks @Grogged - I will have a build backwards then) I have been saving since March 2020 with a purpose so thats helped.
I made the mistake of reading lots on the pension v mortgage thread yesterday..so its that old MSE argument of
'do I pause my pension contributions to build my house deposit faster vs slow down on house deposit to keep building my SIPP with that lovely 42% tax relief!!''
Overwhelmingly it seems the argument there is to keep investing into my SIPP pension as I am currently a HR tax payer (self employed) especially as I am over 50 .. argh.
but if I keep on adding to my SIPP ... I won't be able to buy next summer... unless I do a Shared ownership or Help to buy (both are an expensive way to buy) or unless I have a major increase in income which is possible .. or I buy a smaller one bed only.....or further out ...
Decisions decisions ... not sure which way to look
So I need to focus on budget, spending and saving in the short term. I can always pop extra in the SIPP before April 5th I guess when I have a clearer view of the year. I might just drip feed in a bit into my SIPP each month say £250 as well.
DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest10
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