Mrs S…on the road to financial freedom

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  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    It’s payday today so I’ve just moved money around to various accounts ready for February. I also made a small mortgage overpayment yesterday of £5 bringing my total overpayment for January to £46.83. I’ve updated my signature but think I’ll update it again in a moment as I do also have a LISA and I invest weekly in stocks and shares. The figure for the shares obviously changes all the time, but it will give a good idea of what I have put away for the future. I don’t have a major plan for this money, but it is really nice to build up some savings for a rainy day. As of this moment I currently have £569.85 in shares and £545 plus the LISA bonus (and interest) as long as the money stays put until I’m 60 (which I fully intend to be the case) bringing that total to £686.74.

    I’m almost at my filling goal (oh the excitement) and am building up my sinking funds quite nicely. I always find myself more motivated financially at this time of year, not sure why. My ‘house’ fund is quite low at the moment so I do want to concentrate on that over the next couple of months. The house fund is for any unplanned work that needs doing on the house so I like to have some there. I am also planning on redecorating my youngest son’s room within the next couple of months, and he will need a new bed, so I have a savings pot for that too. 

    I made the decision in January that we were going to stick to a UK holiday this year to save a little money and then hopefully go abroad next year. That holiday pot is building up nicely at the moment, as is a second pot for a little break away for me and OH. We’re planning a couple of nights away walking in the Spring which is our Christmas present for each other. In theory I do have the money in the Christmas pot but thought it would leave that pot looking healthier if I started a separate savings pot. 
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    February is working out to be more expensive than January! I have paid for accommodation for mine and OH’s short break which was our Christmas gift (OH has transferred his half over to me). I managed to pay my half with the extra bits of saving I did for it and didn’t touch the Christmas pot. I’m still saving for it as we will probably eat out both nights we are there. There’s a couple of months before we go though so should save more than enough. We’ve booked an airbnb and it seemed reasonably priced in an ideal location for the walking that we plan to do and was a little bit ‘different’ to usual cottage/house. I’m looking forward to it. 

    I have also booked our Summer holiday UK break accommodation. It’s just a Premier Inn and I’ve opted to pay on arrival. The children asked if OH could come along, they’ve really taken to him (and vice versa) but we are currently in discussion about how much he should pay towards things. He reckons it should all be 50/50, but I’m not convinced as I don’t feel he should be paying for my children. We’ve said we’ll discuss it in person and come to a decision.

    I’ve made a few small mortgage overpayments this month totalling £21.61. I have £104.21 left to overpay before the end of June to reach my target of overpaying by 1 month each year. I think that should be doable. I’ve also changed my signature to show a small increase to the emergency fund, the stocks and shares and the LISA. 

    I spent more on food this past week than I usually do. I budget £70 each week and that is usually plenty. I do however transfer any leftovers into a Monzo pot for more expensive food weeks and I pretty much cleared that out. Thankfully it was there though and did the job it was aimed for rather than me having to dip in to money from elsewhere. 
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    I am really starting to feel the prices of everything increase and it seems like I have less ‘spare’ money at the moment. I am just about sticking to my food budget of £70 a week at the moment, but it feels like it gets tighter every week! I hadn’t managed a mortgage overpayment since the 14th February so have rounded down a few of my Monzo pots this morning and sent that over. I now have £89.38 left to overpay before the end of June to reach my personal overpayment goal. My emergency fund is still shockingly low and I do need to work on that. I do have another savings pot for a big holiday I plan on taking the boys on at some point. It won’t be for a few years but that is a back up to the emergency fund just in case. 

    I’m battling with feeling completely run down and exhausted at the moment. It came to a head over the weekend with various symptoms along with my mental health taking a bit of battering so I’m trying to look after myself better this week. I’m having early nights, trying not to do too much and just resting when I can (not easy when I’m working full time and have my children the majority of the time as their dad only really has them every other weekend though thinks he does as much as I do for them…..that’s another rant that I’ll leave for another day though). I do have an underactive thyroid, and a blood test in January showed that I needed to increase my medication so it may be something to do with that too. I have another blood test booked for next week so can rule that out. My oh thinks I should pay a visit to the doctor, but I’m hoping it’s either the thyroid, or just spending a few days catching will sort me out. I’ll leave things a little and see whether they improve. 

    I need to re-decorate my youngest’s bedroom and get him a new bed soon as he has outgrown his. I do have a savings pot for that so I’m hoping it will be a Spring job. I also need a massive declutter of the boys things and to get things in order here, but that is definitely a job for when I have more energy. 
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • MeandO
    MeandO Posts: 2,900 Forumite
    First Anniversary Name Dropper First Post
    Sorry to hear things are tough MrsSave, take care of yourself and try not to do too much. Maybe a trip to the doctor is a good idea too.
    I can sympathise with the Ex issue - I have to deal with the same and more. He's never slow at awarding himself Father of the Year awards on FB though.
    Sending Hugs xx
    Mortgage @ 03/2019: £125K, Now: £66,970
    Mortgage OP's 2024: £738.03/£2000 Total OP’s: £8948.59
    SAVINGS: EF: £6500/£15,000
  • Great to read about how life is for you ( followed your old diary on DFW).  The food prices are tough to balance out…I struggle to keep to £70 a week.

    Hope you are feeling more energetic soon, the thyroid dose may make a difference.
    paydbx2024 #2 £480/£5000 . Mortgage £144k start ~ £148k Jun 23 -
    2024 savings challenge £5/£2000
    EF £140. Savings 2 £30.00. Weekly savings envelope #17
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    Another month has passed! The food bill is still a struggle every week but I’m just about sticking to it. It’s the first week of the Easter holidays and the children are with me this week. We’re having a very busy week but not spending too much. The biggest spend is petrol! We’ve been spending time on the beach walking with friends, visiting, doing free activities locally and will be visiting again today and walking in the mountains tomorrow. It’s a very full week but I’m really happy that we’re having such a good week without booking expensive days out.

    I have needed to buy a couple of hoodies and joggers for the boys this week as they always seemed short on them. They were expensive enough, but to add to that my youngest needed new trainers too. 

    My blood results came back from the doctors and were fine. I have been trying to make sure I sleep at a decent time most evenings, and have also started taking vitamin d again. I did take it every day but over the winter (when I probably need it the most) I’ve fallen out of the habit. I’m still feeling tired the majority of the time but I think working full time and being a single parent doesn’t help with that.

    Other than rounding down a few Monzo pots last month, I didn’t manage any mortgage overpayments so I’ve done the same thing this month. I sent £11.55 to the mortgage making my overpayment total since July 2022 £374.40. Just £77.83 to find before the end of June to reach this year’s goal. I’m determined to achieve that!

    I have ordered a new bed for my youngest and my ex husband will be painting his room at the end of this month. I just need to get the paint and a mattress for him now. 

    I have updated my signature so my emergency fund is now up to £300, and my stocks and shares and my LISA have also increased.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
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