DrCarrie's adventures in saving to be a mortgage-free wannabe
DrCarrie
Forumite 768 Posts
Hello, all new friends and old?
I am here for a new adventure, and to document my adventures. To notice new obstacles and turn them into paths.
I have never been a saver. I am 50 and have never been a saver. I have been a spender. I have cleared my debts 3 times and spent significant windfalls. I have had 2 mortgages and now I rent (£895 pcm). I paid off the last of my credit cards (bar £25, which will go out as a DD mid-December). I am now ready to get back to securing my future and living a life with fun and frolics in the cheap seats.
I have cleared 21K in debt in 26 months, it's been an adventure in ongoing spending less and earning more over that time. Learned a lot of lessons about what I want and what I need. I use the 50/30/20 rules for guide for my budget but my wants are 10% and my saving is 40% of my salary. There are lots of adjustments on this along the way. I am wanting to get 20K in the savings coffers for a new home - in the Midlands (currently in Brighton), and 1K in the EF.
I have secured an overtime rate and so I am hoping that I will be able to add a fair bit on top of the 37% of my salary going into the deposit pot (with 3% of my salary going to the EF).
Part of my adventures are always about food, I used to be a chef, and I am taking on a new challenge of 30 different plants a week...Tim Spector style. A new book is out, not bought it yet. Other adventures will be learning from the boards, making good use of my Season ticket when I have one, and my Network railcard. Airing myself out daily and generally doing things with not much money, or that are planned for.
I am going to track the small wins and add them to the deposit fund. Like my round-ups and sweeps at the end of the month. Starting next month.
😇😀😇
I am here for a new adventure, and to document my adventures. To notice new obstacles and turn them into paths.
I have never been a saver. I am 50 and have never been a saver. I have been a spender. I have cleared my debts 3 times and spent significant windfalls. I have had 2 mortgages and now I rent (£895 pcm). I paid off the last of my credit cards (bar £25, which will go out as a DD mid-December). I am now ready to get back to securing my future and living a life with fun and frolics in the cheap seats.
I have cleared 21K in debt in 26 months, it's been an adventure in ongoing spending less and earning more over that time. Learned a lot of lessons about what I want and what I need. I use the 50/30/20 rules for guide for my budget but my wants are 10% and my saving is 40% of my salary. There are lots of adjustments on this along the way. I am wanting to get 20K in the savings coffers for a new home - in the Midlands (currently in Brighton), and 1K in the EF.
I have secured an overtime rate and so I am hoping that I will be able to add a fair bit on top of the 37% of my salary going into the deposit pot (with 3% of my salary going to the EF).
Part of my adventures are always about food, I used to be a chef, and I am taking on a new challenge of 30 different plants a week...Tim Spector style. A new book is out, not bought it yet. Other adventures will be learning from the boards, making good use of my Season ticket when I have one, and my Network railcard. Airing myself out daily and generally doing things with not much money, or that are planned for.
I am going to track the small wins and add them to the deposit fund. Like my round-ups and sweeps at the end of the month. Starting next month.
😇😀😇
The obstacle is the path.
https://forums.moneysavingexpert.com/discussion/6406802/drcarries-adventures-in-saving-to-be-a-mortgage-free-wannabe#latest8
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CRx
I had an email from the energy company, telling me my statements are ready, so I had a look - very much in credit (and they put the £66 in my bank account). My usage is down by 55% on the Gas, and 23% on the Electricity, compared to the same quarter last year. I have minded bing purposefully careful, but not obsessive.
Feel a bit more secure in the knowledge of having a good cushion for the next quarter, likely to be the most expensive.
I was going to buy an electric throw, but I have decided to just have a duvet and blankets with a hot water bottle when I am on the sofa, and at my desk, if need be.
I am going to buy a heated throw as they also look fabulous but the faux fur one I want is sold out in Argos and as I have £40 of Nectar points I want to use against it, I am being incredibly self disciplined and not buying it from elsewhere.
Per month - Feb 23
Track my NSD's - Target 16 days 1/16 so far
Track my Grocery spending in GC thread £22.98/£145 and £0/30 bulk
Track what I save in my hse deposit and SIPP in my signature Hse £0 Sipp £200
Track extra income from ebay etc £0
Track Minimalist game 1/31
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
NSD = 1
Tilly Tidy = 80p
Round ups = £1.52
Fun and Frolics in the cheap seats - enjoying an autumnal walk
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!
**Credit card debt free 30/06/10~**
MFW. Finally mortgage free February 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb.
It starts with you, it starts from now. *** It is ok to be me.***
***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
Weekly check-in 5-11th
Fun and Frolics in the cheap seats
- Appreciating the views from the train on the early morning commute
- Glorious full moon
- Walking to a fancy baker and getting bread, walking back along the seashore/prom
- Getting lovely salad stuff from a farmer's market stall in the park
- Haircut – great fun chatting with my hairdresser
- Free yoga class – as an introduction to the studio, I liked it
- Off to the cinema later, no ticket required, as I am still using the free tickets from my membership
Pretty good going in the cheap seats I thought @South_coast. Lots of work to do this coming week, catching up and pre-Christmas, not expecting much fun or frolicking happening!