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

ruby_eskimo

Been lurking in the background for ages and keep meaning to post to say congrats on reaching your initial £100k target.  

Also all the talk of socialising makes me think back to the good old uni days when you have an entire night out for £20, including taxi home and cheesy chips from the takeaway.  Now you're lucky if £20 buys you a couple of drinks.  I've seen things about TDDUP but have yet to take the plunge and watch...might have to now as some of these stories sound 😳🤯

LadyWithAPlan

ruby_eskimo said:

Been lurking in the background for ages and keep meaning to post to say congrats on reaching your initial £100k target.  

Also all the talk of socialising makes me think back to the good old uni days when you have an entire night out for £20, including taxi home and cheesy chips from the takeaway.  Now you're lucky if £20 buys you a couple of drinks.  I've seen things about TDDUP but have yet to take the plunge and watch...might have to now as some of these stories sound 😳🤯

Thank you £100k was a huge milestone - and now I am figuring on how to get it to £125 k I forget  what I have already achieved .. 

ah yes a cheap night out - if u think back to how much one would drink and eat out at curry houses at uni and yet how did I pay for it ? Guess I worked year 2 and a bit year 3 and got a loan but definitely spent much less .. luckily I had a high paying job straight after my  loan was smaller then as we had more support and it got paid off quickly 

be very careful with Til debt and Princess Gail’s other series / it is impossible to watch one episode ! 

LadyWithAPlan

@WelshmansDaughter yes lots of them just were stuck in 8 year old versions of I want it now!  Amazing how parents can so influence a child’s money views and keep them in the spoilt mode. Hopefully lots of people watch and learn - looking at the comments they are inspiring 

@savingholmes

Be good indeed to see them a year later or a decade later. Hopefully it was a great  LBM for all of them - most of us on here had one. (Or 10) 

So I think that’s why TDDUP is so watchable is we get to see their lightbulb moment and the struggle to change is real. 

I once helped a friend with his budget as he was overspending  - he was in PR and he had obviously watched too much ABFab as he insisted on getting cabs to work each day! He was claustrophobic so couldn’t take the tube but I really pushed him hard to start catching a 20 min bus Ride - he did live in central london  - saved over £100 a week.. so easy for us to feel we deserve this or that or we are allowed to buy X cos Y is happening .. that’s why a small fritter pot for money we can just blow is probably a good idea / no guilt and it’s in the budget 

I look at the TDDUP people and they often are just buying what they want immediately - still feeling they deserve things. no question if they can afford or have better things to do - maybe for some the shopping is filling a hole - so probably counselling would be a great idea instead.  I don’t think social media glossy photos helps either on selling the new must have dress or insanely expensive lifestyles - the TDDUP  often have brand new very high end furniture on credit …
I have a mix of vintage, from family, and new furniture and some castoffs - I have never put any furniture even on a credit card though I understand that  if you have no bed for you or your kids then I see why you might - an expensive sofa though would scare me. 

 I do need to replace my mattress but just choosing to wait on that 

 One has to be strong in one’s own wants , needs, have a budget and keep the focus hence why MSE is so useful - and why i want to do a years expense breakdown for 22 to catch where I am spending. Guess this is why I guess I have managed to save so much the last few years as I do control my drift spending.

I really really REALLY want a smeg expresso machine in red .. especially since my Nespresso machine got too bitter but it’s over £300 when a under £100 machine would be just as good. So I haven’t bought either yet . I have an aeropress and a stove pot that make great coffee. 

I also really want a GF Panasonic bread maker but as it’s something I need more (as GF bread is super expensive at over £3.50 a loaf now vs £1.30 ingredients plus cooking) ) and I can get one for £100 this will be my main Xmas gift from my whole family - it’s more useful right now than the glorious Smeg work of art. 

I have said once my programme is launched and I sold something  I will then treat myself to the Smeg   - this is the self discipline it takes to save. 

I could have used the cash win for a holiday in January - I did look at an all inclusive trip to Mexico for a month or Just flights as I have a friend in Cancun .. but I have bought these gear to further my side hustle, plus if it goes ahead it could allow me to travel more anyway for work  - plus the remainder has gone 50/50 into my SIPP and my house deposit . Who knew I could be this grown up! 

WelshmansDaughter

A lot of the parents don't have any money sense either. Although to put it in perspective you probably didn't need as much money management skills in previous generations. Less options, less technology, less skills to learn. Also just a completely different work/life culture. 
I watched one today though where they were in their fifties and had no retirement plan. The government benefits were 2k a month and they were like we can't live on that! Canadians are expensive!

badmemory

You missed one off.  Less ability to borrow money.  When I started out you could only have one lot of HP.  So you either went back street borrowing, which back then most of us didn't even know about or you reserved your borrowing for an essential that no-one could hand-me-down.  Although my then husband did have an overdraft, the bank only complained when his salary didn't return his account to zero. 

Actually money management could be harder as bills came annually or quarterly & needed paying by either cash or cheque so there was no putting it on the card.  Can you imagine having to make time to go to the local gas shop and norweb (or whatever your area was) to pay when you only had Saturday morning to do it.  I believe some people used to pay their rates at the local library.  No DD & at most 2 payments a year.  You had to be organised.

DrCarrie

@LadyWithAPlan 100K os such an amazing milestone, I think the red smeg coffee machine is an entirely justified celebration. You will use it everyday, and it will make you smile. Here's hoping some of those invoices show up soon.  

 

savingholmes

@badmemory - that's a fascinating slice of history.

@LadyWithAPlan - completely hooked on the series - helpful - as I can see where I am starting to fall back into old traps and where I need to nip things in the bud.

Love your use of your win.

Watty1

Just caught up with your diary (I am woefully behind on diaries) and wanted to congratulate you on the milestone!

LadyWithAPlan

My new gear arrived yesterday - so now I have a new toy (software and hardware) to learn to use for my side hustle and to then make more money   - no excuses now !! All paid for from my energy company win

Dec Grocery  £38.95/£205 (£145+ xmas food extra £60 for family) + £0/£67 bulk
£9.42 spent in Lid as they had no DF milk so I had to go back the next day.
I bought a sprout tree 99p which is fun as I rarely eat sprouts but they are very good for you so looking for some new recipes.
I need to go shopping tomorrow probably as I running out of DF milk. That is something I do need to bulk buy but its heavy to carry.

I made a fabulous chicken and leek  soup yesterday from my stock, plus chicken is so good for you vs me keep buying YS GF sausages - so much fat in them when I look..
I may try to make a chicken potpie with GF flour - not tried ever  but be good to try a new GF dish.

I have some turkey mince in so I will do a curry type of dish with that or a chilli today and batch freeze most of it.

Watty1 said:

Just caught up with your diary (I am woefully behind on diaries) and wanted to congratulate you on the milestone!

thanks I am also v behind diaries - its a busy month

@badmemory I had not thought about the lack of credit and no DD's - wow.

@DrCarrie the Smeg is coming once I have launched my programme and not before as my carrot!  (Plus my kitchen is not huge and I am about to add a breadmaker to the huge pile of kitchen cooking stuff - no clue where it will live..  (I have the normal oven, microwave, halogen oven, instant pot, rice cooker, toaster, rice maker, slow cooker, juicer, blender,) 

@WelshmansDaughter ouch yes once I hit 50 I looked up and went I need to focus on the retirement angle !!  - I have a DB pension of about £7k a year plus a full SP plus about £36k in sipps   - I added a further £950 yesterday to my SIPP via my company having added £475 a few days ago. The tax advantages make it worth it even as I fight to build my deposit ... I am a HR tax payer or was last 2 years anyway...

@Cheery_Daff still not been paid and I have been chasing - its annoying especially as I cant fill my pots for Dec - one company will pay tomorrow but thats a small invoice

@savingholmes yes I feel like I am winning with my choices

badmemory

Re your breadmaker - I found it helped when I moved it away from any influence from the back door & also did not put anything in it straight from the fridge.  You probably already know this but I didn't.