Positively Planning and Enjoying Life

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  • Money update

    Food spending:
    £10.72 coffee, sandwich, milk, chocolate

    Socialising
    £0

    Christmas gifts £3.75

    Investment / savings? £11

    Purchases - hoping i've remembered all my frittering:

    new to me clothes £19.50 - that mounted up more than i thought. I got a good haul of casual and formal / smarter - i need to sort my weight out to stop the spending in this category - as i am now going out to work and there isn't a uniform (like i had in 2 of the jobs) but a dress code i'm appreciating how my pjs stretched to fit at the times i was at home

    New make-up £13 - working and heading out into the world of work means i'm regularly using make-up more and therefore need to replace it more often - may need to think of a budget for this but this will see me over the next few months.

    Home item: £6 cannisters

    well that all adds up and the reason i'm trying to more mindfully spend although when i kick myself for not getting something and it's gone it doesn't really work.


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  • savingholmes
    savingholmes Posts: 27,259 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Can you give yourself a pot of guilt free spends a month...
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • Merry Christmas everyone - i hope you all have a lovely day. I have done the pots and have the washing machine on doing it's thing. May open a few prezzies soon - waiting of Mr Socks being up first.

    i have some presents to wrap as well - for Mr Socks family...

    I checked my banking first as I already knew I was going to be short of money this month (not really due to Christmas) due to - bills needing paying, socialising through the month with no budget for it - so i guess some more Christmas related than i thought and still pushing the stretch target for the year.

    I am £500 short without any socialising budget.
    £260 of the £500 is petrol and food. i am planning to cut down the food spends so this would help.

    so will need to get my thinking cap on - don't want to borrow from other pots if i can help it.

    Financial targets for the future - aim to have at least £50,000 in savings by the end of 2022 and have overpaid the maximum on the mortgage. 

    By the end of the mortgage fix have at least £50,000 + the remaining mortgage balance in savings so can clear in full and keep a minimum of £50,000 in savings.

    need to start plotting  :)
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  • I hope everyone has had a good day.

    We don't receive much gift wise but this year we each received some nice 'treat' type presents as well as some useful presents so i am feeling very thankful. They'll need to be moved this week. The day has been spent rushing round seeing people and we weren't hosting this year so enjoyed a lovely home cooked meal - the first in a long time which i have not had to make - i still helped tackle all the pots though!

    So it has been a lovely day overall.

    I popped back in to post about my bills money deficit this month.

    I had said £500 short. But i had already moved some money to cover a Direct Debit - I forgot to count this and I had some cashback too so deficit is £360 - which sounds so much better. £260 of which is food and petrol budget and i'm aiming to trim both. 

    I will try and think up ways of tackling the rest.

    Right it's bedtime for me - i didn't sleep well for various reasons last night so hoping for a good sleep tonight

    Gratitudes
    Lovely chats with wider family
    Lovely and thoughtful and useful gifts and treats
    Time off work to enjoy the break 






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  • Can you give yourself a pot of guilt free spends a month...
    Hi savings - i think the guilt of previously wasting so much money (for various reasons - never taught to budget, parents encouraged spending on credit cards, i had only low income jobs - before minimum wage and then minimum wage when it finally came in, supporting parents financially for years meaning no spare for savings, boyfriend who took financial advantage, friends who took financial advantage - now ex-boyfriend and ex-friends and many other reasons and connected with it all is probably my own very low self-esteem which meant spending money i didn't have) Anyway the guilt of wasting this money means now i don't feel like i can spend anything on myself.

    My friend has £300+ spending money each month - this is just to spend on herself and the + is because she often spends more than this. They can afford it. She would never dream of buying second hand but will sometimes give items to charity. 

    I can't even give myself £30 to spend guilt free but it is something i need to learn - having money for me that i can spend and not feel bad about afterwards - any suggestions anyone?
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  • Morning all

    So i am £360 short of my monthly bills target - £260 of which is food and petrol so i will aim to keep to a minimum. the £100 is needed for bills so in my book i have split off £100 and £260 - the £100 being the urgent priority. 

    I have also noted down the extra savings i am aiming for this year - this is already way over and above my stretch target - my stretch target is above my salary -and the extra savings is is £8,500. Now £8,400 as i very kindly received exactly £100 cash for Christmas when i counted it altigether.

    I can see the £100 Christmas gift would easily make up for the £100 shortfall but that's too easy to do and I want to use this money specifically for savings  :) it's good to make a start.

    As i've paid the maximum i can on my mortgage this year the focus is on savings until i can get to the next window of overpayments.

    I've just done a quick survey, when i get to cashout i'll put this to the money shortfall - i was unsure where to allocate survey money but i think building it up to cover the shortfall and then building it up towards overpayments could be the way to go for money above salary and bay of e.

    Today we are at family for a buffet lunch, i need to pick up a couple items for free, cook turkey and also another labour intensive recipe - best get a wriggle on.
    Mortgage Balance
  • savingholmes
    savingholmes Posts: 27,259 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Hope you manage to plug the gap. That's a big savings target. Is it for something specific? Would you be better off putting some of that into pension?
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • Hope you manage to plug the gap. That's a big savings target. Is it for something specific? Would you be better off putting some of that into pension?
    Hi savings - i am saving to buy a house to rent out so that will be my income in retirement. It is a huge savings target but i need to stretch myself and be disciplined. I am aiming to save more than I earn in a month so a big task but it does motivate me to start selling some bits on the bay - it is all only low value things i have, we aren't gadget people and although i'd like one of those watches for exercise type things (again a good motivator for me) i can't justify spending that much on me,

    I had a very bad experience with pensions from my first job that had a pension scheme  :'( This put me off putting money into any job pension for years as i had lost all the money i'd saved and did not want to risk that again - apparently it all went on fees???!! The pension i am in through work now is very poor and there is only a very minimal amount being paid into it and is one of the standard auto-enrolment pensions so i don't know if it would be worth me paying any more into that? Any basic info on pensions appreciated. When i've looked at private pensions they've always said to pay into the company one if there is one - which earning a little more than the minimum for auto-enrolment i am in.
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  • Morning all

    I have quite a few things i'd like to achieve today

    - tidy out 3 more kitchen cupboards (the remaining easier ones)
    - cook: curry, lasagne, soup
    - bake cake
    - tidy top of a cupboard 
    - empty one bag of things

    I also want to think a bit about next years goals.

    Initially I want to stop buying 'bargain' food - i cannot seem to resist picking things up for less than 50p etc that will make us a meal. But the reality is i am then spending on several things which are all cheap but then i need to store these and we have a lot in the freezer right now - so much i can't organise it and work out what we can have for tea. So i'm aiming to diligently work through the freezer using up what we have before i even look at any more reduced items.

    I need to do the same with our tins and dried foods as they aren't fitting in the cupboard (it is a small cupboard) so they are untidily on the top of the counter and overflowing. To be fair i've not been buying much of these but i've not been using them either.

    these things will save us money as i won't be spending unnecessarily on food and it will make our home nicer to live in.

    So i will be using up what we have - the soup today and the lasagne are to use up the leftover veg we have. For lunch i was going to turn leftovers into a different dish but this would involve using a bit more food and using more time and energy so i'm just going to reheat the meal :smile:

    I want to carry on this tidying and decluttering, again this will make living here better for us and hopefully, if things sell, it will help my targets too.

    Personally, I want to:

    Read at least 12 books and then declutter
    Study French
    Regularly practice my instrument and learn to play 12 more songs
    bake bread regularly again

    Work wise

    I want to complete all the study courses available to me. A difficult one as work is so busy that i often don't get the time but i've now written a timetable which prioratizes my study.
    I also want to learn as much as i can about my job so i can work more effectively and efficiently.

    Health 

    Eat 3 meals a day
    Walk every day and then start to run - target is run two 5-7 mile runs a week and a half marathon each week.

    Finances

    £50,000 minimum in savings
    10% maximum overpayment on mortgage

    Fun stuff

    Who knows what travel will be like next year? In view of this I plan to have at least 12 days out which should be doable

    Wow - didn't mean to put all that down then but good to get it on paper as it were



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  • Jessy103
    Jessy103 Posts: 1,821 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Good luck with your targets @StripeyTightsSpottySocks 🙂
    Mortgage Balance as of Jan 24 £36,500 Starting Mortgage Balance (June 2019) £72,000. 2024 Overpayment Challenge: Jan £558.40, Feb £588.11, Mar £497.32
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