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

LadyWithAPlan

April review

House deposit saving £104,385.87- not including my MB income - yet to look at this

ISA down by £90

This reduced in April from the highs of £109.5k as moved some cash into SIPP for tax advantages.

I am even wondering if I can super save for 2 + years and buy something tiny cash … However I need to up my earnings so making moves on my side hustles finally.

SIPP £44,254.79

Not including DB and SP - Lean fire 14.75%, Decent Fire 7.38%

Savings £310 - £200 H2b plus extra £110 for stocks isa to make it £2k in 22/23 year

No premium bond wins - I just checked - last won £50 in March draw and £25 in Dec - I have now just under £14k in as took some out for the tax year stuff.

Spending for the month of April

I decided to do a montly review of what I actually spent this month. I always do an opening month budget and track monies going in and out of mini bank pots I have plus my sinking fund pots - however I have set up jars to add my receipts as I go in the various categories and also just looked at my bank accounts to see dd's etc. I have set up a G sheet so I can do the same next month on actual spend but as I will be away for 2 weeks this month it will be a bit ouchy.

It was a bit of a shocker to see my actual income received in the month - I am still getting money in and got more in than I spent but I am still owed - chased down one company who did just send me some but still a fair amount owing. Lots of companies finding it v difficult as we all reduce our spending…

I am also tracking monthly invoices sent out so I can track more closely money in/out as I am self employed and got a new company so harder to work out actual profits and monthly income..

Highlights of actual variable spends in April

Food £238 + £30 bulk - much higher than my budgeted amount but switched to lots more greens and healthy food - plus one week I was on a course - will aim for £200 in May as will be in Europe but there is a local LIDL to where i stay so that helps.

Entertainment - £91 - very low! I had some good nights out but tab was picked up by others or free stuff. I didnt drink the last 2.5 weeks of April either.

Travel £85 only - I stayed in a lot and one weekend away visiting family

Abroad travel - £386 ahead of next month so flights etc

Clothing £25 - got a long zip replaced in a loved dress

Gifts £8 only ;) but family birthday in May so … have already bought one thing for it.

Home decor £60 this month spent - on a small lidl 3 layer shelf, kitchen scales, and some towards the sofa but yet to pay labour on the sofa (which is not finished) and spent another £75 on more fabric yesterday (but May cost)

Toiletries just £1 as I got £31 of free stuff from boots points

Tech £320

WINS - A SMEG kettle (currently up for sale)

savingholmes

I'm frustrated for you that you are still owed money 

You appear to be budgeting well though. 

Your savings are going really well.

Lauraebrad

Hoping that all is well with you @LadyWithAPlan

TallGirl

Just checking you are ok!

LadyWithAPlan

Thanks @TallGirl @Lauraebrad and indeed @Suffolk_lass who dm'd me to see if I was ok.
Life has been a bit crazy recently but I have now found my centre again and re working out my focus and plans... so I will be back to post again.

Work has dropped down to less days a week, my rent has suddenly shot up by over £540 pm more and I managed to get distracted by a new partner who then dumped me by text (!)  
So I am now at early Sept  planning the last third of the year. I am still angry about the method of my disposal but it is a great way to realise they really are not the partner for life if they behave like that. I did make sure on the weekend we were booked to be away together as a couple I went instead on a 10 day Spain trip with a friend where we danced, swam and drank. Expensive but needed.

So new plans, new budgets need building and probably I do need to get some new work and think about buying again given I was staying put as rent was v reasonable so I could keep saving. I do think my eye has not been on the ball but now its time to rethink and take action.

Just started a new course at college  today for evening class in Photoshop, looks fun and I have some cunning ideas . I was due to do electrics for 10 weeks but then the class did not run..

So I will be back to post a Sept budget - I also stopped budgeting - l'amour makes you go crazy

TallGirl

Yeah good to see you back sorry about the live life but better to see that sort of behaviour sooner rather than later as in before you commit long term. Annoying about the rent but it might spur you on re work and buying. 

savingholmes

Welcome back. Sorry you were unlucky in love. Hope things improve for you soon in all aspects of life.

KajiKita

Good to see you again 😊👋

Bah to the rent rise and Paddington Hard Stare to the fool-lover who treated you like that! Glad you got to have Spain as an antidote! 😉

Re thinking about buying rather than renting, what are house prices doing near you - I am reading about a £14,000 (4.6%) drop nationally, but I am guessing London won’t have been much affected yet? Also, have you run the numbers on what the repayments would be on current mortgage deals now that interest rates have gone up? 

Bad luck on the losing a work day a week. I think you were training or developing a second string weren’t you? Or am I completely misremembering 😊 Is the photoshop course related to work or something more fun? 😉

Looking forward to seeing how you get on 😊

KK

Suffolk_lass

Good to see you back. As you say, riddance of someone you thought was better than that ? Yes, it hurts, but long term it is a good thing.  

LeighofMar

Welcome back. Glad the trip to Spain recharged you and you're refocusing your energy on your plans.