Future Proofing my life: Deposit saving then MFW journey in under 13 years

LadyWithAPlan

@ruby_eskimo If you have a system that works for you great..
I have loads of great spreadsheets as a fellow  MSE nerd Which track everything but specifically my house deposit fund and where all the money has come from - so income,l mb income, a PB win, free money, ebay sales etc and where it goes...
And a linked one for my pension stuff etc. Fire numbers
plus i have/had loads of virtual bank pots for my montly budgeting so will shuffle money around thru the month as I spend so I can 'see ' that category money go down - so I buy £50 groceries and i transfer actual £50 from my grocery bank pot to my checking or my credit card.
Done this for well over a decade so it works - I prefer a paper budget though  

The main reason I have decided to try ynab is really that once I spend down a category I know I have gone over eg entertainment /gifts as no money left in that pot  but I spend more anyway .. my cash float in my bank allows me to do this or at worse it pops it over to my CC - which I always pay off in full on the due month. Ynab already shows me on one sheet bank balances, credit card and how using up my current acct cash float stops me from from funding the next few months..
I currently have the luxury of having loads of cash spare as I havent got the mortgage .. but once my deposit is on the house I wont have that and that feels dangerous as self employed.
.
The other main reason for ynab is I started tracking actual spend in October.
October I pulled off my various software accts but as I run my ltd company plus my personal life I have some shared bills etc so it wasnt accurate. November I started an excel writing down everything I spent and categorising it .. so I am doing the job of ynab except their reports and their dashboard are in your face
I could easily write a better master sheet of such balances - credit card v accts - I have one already but the ynab centralisation of data is what I am liking.
Had a couple hiccups on set up but I feel from Dec 1st today I can run the month and get serious about house buying.
Spending £1635 (oct) + £1922 (nov) on voluntary spending - £3557 over two months .. not including grocery, rent, utilities, some work travel, phone etc etc. - this is money I could choose to put towards house deposit saving and then paying down debt.

Plus I like the fact I will be able to pull historical reports of grocery etc etc over the years..

Cheery_Daff said:

Thanks for all those links, will investigate! 

I am glad using myself as a tester bunny for MSE is useful - but it has definitely made a difference and I look forward to letting you all know when my one sun spot has finally gone - it appeared after a fabulous travelling across beaches summer 6 years ago with a partner that didnt end well (he turned out to be an addict and got trashed and was unfaithful at the end - i then left v quickly!! ).  so this sun spot for me represents that time .. so the fact its much smaller/lighter in 3 months is great - and the serums might have added it as if you use a serum after the led mask they sink in deeper but serums alone have not worked on the sun spot over the years 

Yes dont feel you need to have a NIR one - for facial beauty my friend has the £13 one and his skin at 50 yrs young is wow.. he was the starting point to me and various other MFW now owning a led face mask.. They also good for SAD as the red light helps with the darkness.
Though if you or MR CD has bad arthritis or pains etc the NIR gives an extra boost as well as you can use the face mask to lay over your hands/knees/back  (my mse extra use of it) etc as NIR (along with RED led) are proven to assist healing etc - as NASA realised.. though red led does this as well - NIR gives an extra boost  as different wave lengths..

NIR -  Reduces skin and tissue inflammation and speeds up healing of lesions and wounds. Stimulates collagen and elastin production for firmer, suppler, younger-looking skin. Boosts blood circulation and cellular oxygenation, stimulating a release of toxic wastes for a healthy, radiant glow.

Cheery_Daff said:

Good to see you're getting on with YNAB. I love it (although my budget isn't as complex as yours!) Not for everyone of course, ad plenty of people manage with spreadsheets, but I like to have the app and be able to easily see what's in which pot. I can't stand having red categories, and it's good that it makes you cover your spending deliberately from a different category - you can see whether that extra coffee or whatever is worth raiding the holiday fund for 😂

I like to empty everything out and start again at new year, purely for the fun of planning 😂😂 As you say, it makes you feel rich, but also poor, but for me I think it's because I can't say 'I have xxx in savings' and mentally allocate that to lots of different things 😂 I have to allocate x to a new car, x for household emergencies, x for boiler replacement etc. Anyway, I'll be starting from scratch again at new year, probably won't look much different, but it all ends up with random amounts in and I like to at least start the year looking tidy 😂

YNAB - yes this is turning out to be my new obsession 24 hours in but think it will stick as the dashboard  is great and really seeing where that coffee money could else be going.
I really want to see one year of spending from Dec 1st especially as I have my home goal for 2024 -  I can see weird amts being an issue - I have set up payees to run through my cash wallet for where I spend for free so  free sm vouchers I spend etc plus my MB income, ebay sales etc  so I will be able to track easier all these 'free money' amts.

I really could afford a mortgage of £2k per month given what else I am spending
It also makes me realise I do want to get an extra client as my hours on the main one has dropped and the irregular payments  are annoying as I wait to assign money YNAB  will force me to get real on a monthly basis vs floating along on the knowledge that  I have more money saved than ever before  in my life £112k!! plus £47k in sipps so NAV at £159k  (ignoring tax money)  
However FIRE doesnt work without a paid off or affordable home so ..

I am doing just one whole life budget as I do accrual accting  vs  ynab cash.. That may change in the future but I have work bills categorised as a separate thing so I can see them as well - 

I am toying with a crisps/harib*/GF biscuits  category to really show me my junk food costs... 

triple_choc_chip said:

I will try the salad leaves - in between the courgettes? I have never heard that.

No don’t try that, it would be a soggy mess, probably.  Sorry, I really didn’t write it well, I’ll try again.  I roll courgettes in kitchen paper and I sandwich salad leaves between 2 flat pieces of kitchen paper.

Ha! I did wonder hehe ...
After my friend in the States who literally has a huge fridge and freezer glass fronted that looks like on Home Edit - all the veg is in sections, the water is lined up perfectly, things are decanted ... and her pantry is a drill sergeants dream of organsiation and decanting ... she has inspired me to pull things out of plastic and make it a bit more home edit - so a shelf for kitchen roll and green veg ... could be fun  

Happy Friday all and Dec 1st and I hope we all get PB wins (not had one in months so)

savingholmes

I do love the HE programme but make sure you don't end up spending out too much on new containers.

Definitely need to resolve the invoices. That would drive me doolally. It does seem your main barrier to home ownership. That or the need for a more reliable paying client.

On YNAB some people love it - I couldn't cope with it as I want to see a forecast over months and it doesn't really do that. I want to be able to see if I over-spend this month - what's the impact over a year not just in month impacts. At the time I still had lots of debt and we had money coming in on different pay dates so I couldn't get it to work how I wanted. I use spreadsheets - and part of my forecasts look years in advance. I also have a FIRE spreadsheet so I can focus on progress on that goal too.

LadyWithAPlan

December Kick off...

Track what I save in my hse deposit     Dec £20.62/£960 + 20.62 = target £980.62
H2b isa interest  - I see we can from April 24  have more than one cash isa which will be useful - except my Help to buy will have hit £12k by then anyway .. for the 25% uplift - if I buy up to 450k...
In my swapping over to ynab I accidentally added £960 tax savings into my hse deposit money calculation  so I need to fill that back up first this month.. my h2b isa interest doesnt count as pay back  as I cant access it ..

Chased 3 x companies for money  ...but  
One cant for a few weeks but relatively little amount
The other one mid next week  - the big invoices - so will get some to cover Dec but not enough to get the house dep moving..
The other is a smaller amt approx £1k which will take at least a week - so my poor Dec ynab will be underfunded for  5 days longer..
I need a few obvious quick paying side hustles like I used to...

I did update some invoices but got two more to do.


Spending - coffee   £24.29 bulk 
Just opened my last lot of Lavaz** ground coffee - I buy in bulk so costs me last time £27.99 for 10 x 250g so £2.80 per pack as opposed to £4 in the shops..
I can see I last bought in Aug 23rd so  14 and a bit weeks ago .. so not bad - Coffee is not voluntary spending for me ; )
Buying in bulk also saves me as I dont then rush out to the shops to buy more and spend more on other bits.. Plus when I see family I take a pack or 2 so I have great coffee and they not paying for it. 
Current price on Amaz is £24.29 - for 10 -  as on BF sale tempted to buy 20 packs BUT ynab telling me I dont have the cash as waiting to be paid and in my new ynab set up I moved my bulk money into main bank acct..
I will order  just 10 packs then so £2.43 per pack and may order more when I get paid - I have amazon prime for free for 6 months so..

Vouchers gone wild £74.60 +£10 lifestyle - all to use and yet to be counted
I want to use up my vouchers first so using less cash... I normally shop at Mr Lid 
I have £11.50 left on iceland card - get frozen veg
£20 + £40 Sains from the double points - must use by Dec 24   -  stock up on GF foods I cant get in Mr L 
Plus £2.1 from the Waitr** giftcard I bought 
Plus i have a £10 lifestyle voucher  I won - can use to purchase a waitrose or a shopping voucher so food/fashion etc as xmas gift otherwise

I have a huge won Half**ds voucher I need to check expiry think feb 24 but as a non car owning person and I already have a fabulous bike I never use .. I may try to sell for 7% value

MG (Minimalism game) back to 1!   2/1
I didnt manage 29 or 30 days  but still got 310 things out house in Nov   so the clock nicely starts again
However I am going to aim for minimum the day so Dec 1st is 1 thing but I have already decluttered 2 things so I will count that for the total monthly MG 

Food today
Got brown rice in the rice steamer with a dash of dry chermoula spice going - I will then chop up some of my chicken and do a version of the chermoula rice recipe here with chicken instead (I also have  ys turkey mince in freezer)   and serve with fried kale/spinach and the DF mint yogurt  - 
EDIT done and tasty -
I may make up a hamper with the recipe and pastes etc for a xmas family member
https://www.hellofresh.co.uk/recipes/chermoula-spiced-lamb-and-rice-63ef9b7d6b59c922e00e4301

MSE WINS and focus  Free Money £15.86
- Quidc* cashback £15.86 from my travel expenditure - changed bank details to work better with ynab so I have to wait to 6th Dec to get it - so not assigned it yet - normally its for hse deposit but depends on payments in.

- I saw on one of my subscriptions there is a 50% off for students £4.99 v £9.99 standard I pay so I have just applied for that as YNAB made me look at it... So lets see when the normal DD comes out if I have received the discount already. 
I want to get rid of it in a couple months  but its v useful and to replace it will take a lot of time I don't want to spend right now. £4.99 is acceptable amount and I do use it
Seeing the YNAB and having to check off each expense and dd as opposed to mass accepting them all in my accting software is making me pay attention to detail..

- I have that TV box b**b however never been able to login to see rewards which after 10 months should be decent to help with Xmas. So called and the helpline I need - rewards is shut after 9-5 Mon-Fri so I will call Monday

- airtime - some bits coming through 

- still need to do airline complaint..half written 

This weekend to do's
(Watch my ynab cry) I can always use my MB float  - which diminishes my house deposit or my small EF its just me being focused... I want to use new income against Dec bills 
Get rest of Xmas decorations up - tree and new lights look fabulous
Finish some work for a client for Monday morning 1st thing
Finish recon for my CC for for ltd co accts
Finish email and notes for acct  to process re SE/Ltd co
See friends tomorrow morning to help - just seen its a £20.90 train I need to assign in ynab from grocery I think ...
Big Sat night out  - last week I stayed in as friends ill so catch up tomorrow 
Print off art stuff
Practise for a side hustle Thurs
Review my Nov goals and compile Dec goals
Work out why YNAB not dealing well with the way I want to process interest earnt as will mess up reports
GYM streak start!



Per month  - Dec 23 SPEND/SAVE
Track my Grocery spending  0/£200    grocery +   £24.29/£100bulk 
Track what I save in my hse deposit  Dec £20.69/£980.69
Cashflow EF  £100.47/£2000 
Track extra income from ebay/free money/refunds etc    £15.86 (dec 6th)
December Voluntary Spending  
My Dec streaks to track
Track Minimalist game  (Nov 310)   Dec   2/1
Gym streak 
YNAB days:: Target 13 days - 1/13
Track my NSD's - Target 13 days/month  0/13

savingholmes

Sounds like you are making good progress. 

Well done on the decluttering. It all helps.

LadyWithAPlan

savingholmes said:

I do love the HE programme but make sure you don't end up spending out too much on new containers.

Definitely need to resolve the invoices. That would drive me doolally. It does seem your main barrier to home ownership. That or the need for a more reliable paying client.

How is the house move? I saw about the survey and bldg reg possible issues.. Argh - fingers crossed for you.

Home Edit - yes I visited the container store in the States and I could have bought the entire store! Google it and dream
Luckily its all too large for even my suitcase... I am decluttering before I buy storage solutions though my shoes/boots definitely needs help - they now live in 5 places in my home! (and the odd pair in the hall)..

Yes  I am getting dolally about it - especially now I have ynab and I cant assign money for December
 Once all invoices are paid it should increase my savings  (after taxes) by prob £20-25k.... which will also help buy and make me at peace knowing I jhave received what I am due...

savingholmes said:

On YNAB some people love it - I couldn't cope with it as I want to see a forecast over months and it doesn't really do that. I want to be able to see if I over-spend this month - what's the impact over a year not just in month impacts. At the time I still had lots of debt and we had money coming in on different pay dates so I couldn't get it to work how I wanted. I use spreadsheets - and part of my forecasts look years in advance. I also have a FIRE spreadsheet so I can focus on progress on that goal too.

I think you use spreadsheets to forecast in a way I have not tried but your system obviously works for you 
My old system worked great for me when I was trying to limit spending and not in such a good income but a higher income and a large cash float has definitely led me to lifestyle creep so YNAB is perfect for me now.
It might be in a year I am over the daily money movement but I always believe in trying something .. I tried the simple budget on notion but my own spreadsheets were better than that.. I love my pension s/sheet with fire numbers

ynab can be what you want it to be it seems  but i am also having a couple teething  issues cos of how I want it to treat my house savings ... so far though I think its perfect as I have to move cash out of one category to spend in another I havent yet funded or have overspent in.. So for me it looks v worthwhile - I also have seen online as a student you get it for free for a year - definitely in the US but I will send all my id stuff etc and college cards/student id and see if I can get it for a year at least   ...

I would quite like to go on an excel/dashboard building course eg Python - I dont code but it would be useful and always looks good on a CV.

PennysIntoPounds

How do you do so well at comping?! Well done to you!

I've not fancied the idea of ynab as I don't take well to being nagged, especially by anything tech 😂
But since you're not in debt, and it would be cheaper for you to buy something in bulk that you're definitely going to use, I objectively would say it's not mse to base your decisions on that calculation

Great news that invoices are starting to be paid- put them straight in the deposit fund and do not, I repeat, do not feel flush and go for fancy drinks! Your friends are quite capable of meeting you in a pleasant pub where drinks are less than £15 a go

LadyWithAPlan

PennysIntoPounds said:

How do you do so well at comping?! Well done to you!

I've not fancied the idea of ynab as I don't take well to being nagged, especially by anything tech 😂
But since you're not in debt, and it would be cheaper for you to buy something in bulk that you're definitely going to use, I objectively would say it's not mse to base your decisions on that calculation

Great news that invoices are starting to be paid- put them straight in the deposit fund and do not, I repeat, do not feel flush and go for fancy drinks! Your friends are quite capable of meeting you in a pleasant pub where drinks are less than £15 a go

Objectively you are correct  
I actually am choosing to be nagged by YNAB ! As no one else tells me what to do
YNAB is really making me see that given no one paid me in Nov (bar part towards work travel but even that’s not all covered ) and I spent loads .. that to currently live now I need to drain house deposit savings or the now depleted EF 
I will get some cash Wed I gather so I am fine and I have £1900 in my MB bank account (part of use deposit though )  abd spread across bookies I can access immediately 
I have paid rent on time of course but everything I buy now comes from house deposit or on the cc til I get paid next 

I am trialling the YNAB  way which basically only allows you to assign cash you physically have in your banks and when money arrives - you then choose where to put that so towards food, next months rent, utilities etc so it’s a reframe as I know I have large invoices due so I spend regardless so saving less money by just popping on my cc and then paying it off in full once I get paid - leaving me with less to put away
- hence my shock on how much I actually am spending on voluntary non essential stuff 
£1600  & £2k the last two months 

I actively want to save for a house in 2024 and so YNAB I think will focus me on how everything I spend takes away from my big goal I really want a deposit of £125k plus £20k EF plus tax money - I am £34k away  - it’s such a big amount it’s easy to say forget it and buy whatever I want from a big london night out to huge Xmas gifts for family  - however this is the massive next Laplan Plan 2024 

I figure a few months of YNAB and closely tracking income in and money out will give me the clarity to buy a home I can afford and know I can 

lots of my friends run london nights  and private members clubs  etc so I do get a fair amount of free drinks but I still have  to buy a few at that £15 plus price point .. so I go out less 

spending today 
£20.90 on train to see friend - exciting to update the YNAB  
plus will be going out this eve but more east london so should be cheaper - seeing one of my besties for an art thing which also has DJs etc 

PennysIntoPounds

That sounds fun, have a great night. Have an ogle at some East London streets while you're there! It has got pricey in East but still not as ridiculous as in North (mostly)

skint_spice

Enjoy your night out!

LadyWithAPlan

@PennysIntoPounds yes i nearly bought in whitechapel 2 years ago .. I am looking both north and east. It was too cold to go far - but beautiful and crisp
East london drinks were far cheaper.   

@skint_spice tx it was fun - however the cost of the ubers wow.. I normally go out in Soho so easy bus/tube home no matter how late but this was a 20 min walk from the nearest DLR! Luckily my friend sent me cash towards the ubers..

Very cool east london art and dj's - though the projector had broken so they had to wait for a friend to bring one. very tiktok Djing though  - a tune would arrive you'd get into it but 30 secs and they switched - some not great mixing either - sudden tempo shifts . However we had fun - not been out in London the previous weekend so.

UBER WARNING they are suddenly doing a weird thing in the UK where I paid the cost - and screenshot it but then they charged me more and an extra amount for no good reason I can see - this happened  BOTH on the way out and on the way back. When you query ot they aregie that there were extra costs but they wont tell you what they were ...
On the way back I did add a second stop agreed a price and they charged me 2x as much and then have added a £17.75 charge separately on top of the increase from £30 to £48!!
I went on twitter to talk to them and they said  on the small  first trip without any changes and I quote 

For trip charges £XXXX We understand the frustration about the additional charge for this trip We have reviewed your trip and can see that the toll has been charged correctly. With this, we are unable to make a fare adjustment in this case. Please know that the estimated tolls, surcharges, and fees are included in the rider’s upfront price at the time of making a trip request. However, there may be instances where the upfront amount does not predict a toll or fee, but the driver incurs one. In such cases, the actual toll is automatically included in the final fare. Similarly, the upfront amount could include a toll that isn’t incurred. In this case, the toll is not included in the final fare. Paid waiting time is also not included in the upfront price. We appreciate your understanding.

They have then said this extra £17.75 charge they dont know what it is and so I have to contact my bank! Who are stating its pending so I have to wait..


I have used ubers for years worldwide and had no issue in the States with them charging more than the booked rate but suddenly the UK version are charging you more than you agreed.