Our Journey of Mortgage Free and Simple Living

PearlRose

@savingholmes Thank you for your encouragement  

PearlRose

Potato pancakes (5 helpings)

1. Two medium sized potatoes, peeled, washed, sliced, shredded finely.

2. Cubed bacon/ Spam/ gammon/ ham (optional but recommended)

3. Chopped spring onions (optional but recommended)

4. Beat up three eggs, add in 70g plain flour, ingredients mentioned in Step 1-3, a pinch of salt and ground white pepper and some water. Stir them well.

5. Heat a pan, add in oil (veg/ sunflower), add in some mixture, wait for one minute. Flip the sides until lightly browned on both sides.

We usually have it at breakfast or bunch. Also can be served as a main with other dishes. It’s delicious and very filling. As you might tell from the photo, we ran out of spring onions this morning

PearlRose

Income £3097.58

Direct debits & standing orders for July £1288.34

Mortgage (including a small amount of overpayment), gas & electricity, council tax, water bill, broadband, mobile bill x 2, national trust membership, phone instalment, loan

Current energy deal ends in July, so expect a roughly £150 increase from August.

Credit card payment £800 (£2200 left to pay)
Savings £205
Pocket money £100 = £50 x 2

Disposable £704.24

June grocery spending: £415.59 (grocery challenge for £370 failed). I'll challenge myself for £400 for July, expecting to add some boxed chocolates into the trolley as small thank you gifts.

Have been discussed with DH for a home project (budget of £2000). Decided to spread the cost on his credit card (0% interest until August next year). 

savingholmes

Is there any way you can save up for the project rather than taking on debt?

PearlRose

savingholmes said:

Is there any way you can save up for the project rather than taking on debt?

Thank you for your suggestion. We would like to keep some money available in the instant access saving account, so tried to spread out the cost in a longer term.

PearlRose

Income £3122.12

Direct debits & standing orders for August £1288.34

Mortgage (including a small amount of overpayment), gas & electricity, council tax, water bill, broadband, mobile bill x 2, national trust membership, phone instalment, loan

Boiler maintenance £90

Credit card payment £700 (£1500 left to pay)

Pocket money £100 = £50 x 2

Savings £300

Holiday fund for next year £100

August disposable £603.22

July grocery spending: £464.2, so unfortunately the grocery challenge for £400 failed. 

PearlRose

Income £3437.74

Direct debits & standing orders for September £1432.34

Mortgage (including a small amount of overpayment), gas & electricity, council tax, water bill, broadband, mobile bill x 2, national trust membership, phone instalment, loan

Credit card 1 payment £700 (£800 left to pay)

Credit card 2 payment £145.16 (£2500 left to pay)

Pocket money £100 = £50 x 2

Savings £300

Holiday fund for next year £100

September disposable £697.06

PearlRose

Had a look at our grocery spending in August:

Goal £400
Actual spending £407.68
Overspending £7.58

We were away for five days in August, so the spending covered 26 days. The total amount included packed meals when we were out and about.

There is little change in our grocery shopping routine. We used to make meal plans before going shopping. In recent months, it's not unusual to find a few items in recipes unavailable when I arrive at the supermarket, so I have to make adjustments when I get home.

Since August, we have tried a different way. DH or I go shopping first. Our shopping list would read something like '6 varieties of vegetables, 3 varieties of meat or fish, 3 varieties of fruit' — we just pick up what's available in-store and then plan our meals accordingly. This saves us a lot of time and effort.

I have switched off the chest freezer since early June and managed to store everything we need with the fridge freezer. Not sure if I will use the chest freezer again before Christmas.

savingholmes

Perhaps try the grocery challenge to reduce your spend.

LadyWithAPlan

PearlRose said:

Had a look at our grocery spending in August:

Goal £400
Actual spending £407.68
Overspending £7.58

We were away for five days in August, so the spending covered 26 days. The total amount included packed meals when we were out and about.

There is little change in our grocery shopping routine. We used to make meal plans before going shopping. In recent months, it's not unusual to find a few items in recipes unavailable when I arrive at the supermarket, so I have to make adjustments when I get home.

Since August, we have tried a different way. DH or I go shopping first. Our shopping list would read something like '6 varieties of vegetables, 3 varieties of meat or fish, 3 varieties of fruit' — we just pick up what's available in-store and then plan our meals accordingly. This saves us a lot of time and effort.

I have switched off the chest freezer since early June and managed to store everything we need with the fridge freezer. Not sure if I will use the chest freezer again before Christmas.

I think overshooting by only £7.58 is good even if you were away a few days. So dont be too harsh on yourself. But so good to track - i have rejoined the  grocery challenges as it really makes me think and plan better.

Maybe try to aim for a set amount of savings/OP/debt reductions and then work with what you have left for grocery and if you are running out the last few days then scrabble in your cupboards, there is generally more food in there than we know. 
I know food prices have gone up so it is harder but groceries are the easiest place to overspend. I now take cash out with me for groceries as it hurts more to see those £20s disappear into someones till never to return!

I have turned off my 2nd freezer when I went away a few months ago and not had it on again since but batch cooking can be a huge budget and time saver so mine may yet come again - I need to see if with energy prices it makes any sense for any long period. 

Another super inspiring  diary on here especially with all the batch cooking, focus on OP the mortgage, dealing with the husbands redundancy is Tilly's  - its long but amazing they paid their huge mortgage off. The biggest lesson for me reading it was every little helps and keep your eye on your goal and dont let things derail you.
https://forums.moneysavingexpert.com/discussion/3594273/countdown-to-freedom/p1

Have you thought about doing a Net Asset Valuation each month? It might work for you both or it might not.
So what you owe (mortgage/debts/full cc amounts owed) vs what you own (savings pots, bank balances and house valuations) = NAV on the last day of each month
Ideally your NAV - net asset value  - should be going up each month  - if you and your husband are paid each month as normal - if it isn't materially showing an upward swing over a few months then it means you are living off more than your family makes. In these uncertain expensive times that would scare me as would any credit card debt. 

A monthly NAV  can be a good way to stop buying things  that will bust your budget as you have to see what you spent (on a holiday in excess of planned, food or clothes etc)  at the end of each month as a subtraction of your wealth. You can also see how added income from ebay etc will up your wealth