Need help to keep on track

Hi all
first time I’ve ever posted on here, so not sure if I’m even doing it right, I’m not really up to speed with technology haha! Anyhow here goes.

 I’m in my 50’s, have a mortgage of £56000 left to pay, I can’t make any more overpayments until October 2022.  I have no other debt just the usual bills and stuff but I do tend to waste money, for example buying takeaways when I’ve got plenty of food in the cupboard or not meal planning and spending too much in Mr T’s, or buying that dress I desperately want and then never wear.

So if any of you could give me tips on how to get rid of my pesky bad habits so I can save some cash and pay off the mortgage I would be very grateful.  Soz for the long first post.


  • Almost forgot to say, I’ve been following other people’s posts for years but this is the first time I’ve given a diary ago myself.
  • smetf
    smetf Posts: 264 Forumite
    Name Dropper First Post Photogenic First Anniversary
    Hi, and welcome to the board. I haven't been posting long either (but lurked for a long time)!
    I wonder if a target might help? For example if you can overpay 10% in October 2022, having that sitting waiting and ready to go?
    Often the first step in saving money is in tracking what you're spending, we were a bit off track (and have had a reduction in income) so I'm back to tracking every spend this month and will do the same next month.
    Good luck!
    Emergency fund 10k Holiday/ home fund 5k
      Mortgage £63666.87
  • You need to start on November 1st a system where you write everything you spend down - EVERYTHING!
    I guarantee at the end of November you will be very surprised at the amount of wasteful spending that has gone on.
    This is a good outcome though as it will make you think in future about parting with your money and about what you are getting for every pound spent.
    Good luck.
    £52,365 owing December 2017.Now for the final countdown..1st Jan 2021 - £29,316 -- 1st Feb 2021 - £28,809 -- 1st Mar 2021 - £27,309 -- 1st Apr 2021 - £26,811 -- 1st May 2021 - £26,315 -- 1st Jun 2021 - £25,811 -- 1st Jul 2021 - £24,311 -- 1st Aug 2021 - £23,809 -- 1st Sep 2021 - £22,305 -- 1st Oct 2021 - £21,798 -- 1st Nov 2021 - £20,292 -- 1st Dec 2021 - £19,783 -- 1st Jan 2022 - £18,276 -- 1st Feb 2022 - £17,762 -- 1st Mar 2022 -£17,248 -- 1st Apr 2022 -£15,713 -- 1st May 2022 - £15,202 --1st Jun 2022 - £13,703 -- 1st Jul 2022 - £13,184 -- 1st Aug 2022 - £11,665 -- 1st Sep 2022 - £11,144 -- 1st Oct 2022 - £9,822 -- 1st Nov 2022 - £9,298 -- 1st Dec 2022 - £7,572 --1st Jan 2023 - £7,045 -- 1st Feb 2023 - £5,516 -- 10th Feb 2023 - £5,518 Overpayment Pot @ 10th Feb 23 = £5,518 / Primed = £0 / Actual debt = £0!!!! "Yes, the medicine is harsh, but the patient requires it in order to live, should we withhold the medicine?" Hopefully at zero mortgage debt by December 2022 or very close to it. Determined for freedom! 🍻🥂🍸🍹.
  • Hi and welcome :smile:
    Congratulations on getting this far!

    I've also just started, although I've lurked for a while, and I'm struggling to find effective ways to keep motivated to stop spending too. I will be trying writing everything down now, as suggested above, but as well I have started attempting to put money into my savings when making a decision whether to buy something that's within budget (e.g. when I nearly bought a £3 candle earlier, I ummed and aahed and (eventually) instead put £3 into my savings, so I still felt I'd gained something from not spending, rather than being enticed to spend the budget I had left). 
    I hope this helps, but it might be something that only makes sense to my funny little brain!
  • savingholmes
    savingholmes Posts: 27,355 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Well done on making a start. I'm getting a new mortgage in a few weeks so will be a few months behind you. Getting down to a £56K mortgage sounds fab to begin with.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works & new patio door £12.3K
    3) CC £4.9K on 0% spends card but offset by £34.1K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • Thanks for all the suggestions.  The tracking every penny sounds good, I think doing that will definitely shock me into not wasting money in the future and like GreenBeanDreams says I can put what Money I don’t waste into savings.
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