DrCarrie's adventures in saving to be a mortgage-free wannabe

f0xh0les

Subscribing, you are already making progress, and remembering you have to live a little at the same time.

DrCarrie

I am writing to regroup and become a little more focused again. In the last few months, since my last post, there has been a lot of saving and a bit more spending. 

I want to tighten things up again. Just a bit, not as extreme as before but a bit tighter, than where I am now. 

I plan house hunting in Derby at the end of August. I have £9,302 in my house deposit pot, which means I have a 5% deposit. Not too shabby after being approx £21,000 in debt this time 3 years ago. Hopefully, soon, I will have much more debt in the shape of a mortgage. My rent is £1000 now, and I resent it. 

DrCarrie

I watched the Diary of a CEO podcast - Steven Bartlett, with the guest Ramit Shati - I took a few things away from it, that were helpful /spoke to me. 

I have reworked my budget, I hadn't done it properly since December maybe. For reference, before I write my current saving totals I was 21K in debt 3 years ago. 

Saving pots 

1. 3-month Emergency fund = 1,125/4,750
2. House Deposit and fees = 9,302 / 15,000
3. Health saving (podiatry and dental) = 340   
4. Christmas savings =625/900
5. Holidays = 260

Keeping track of...

• Windfalls and leftovers from the budget 
• Tilly Tidy 
• Roundups
• Interest 
• No spend days 

Also activities .... I have previously used fun and frolics in the cheap seats, but after listening to Ramit Shati, I may also call such things as living a rich life.

I like to budget the percentages of my take-home pay for each area of life (the 50/30/20 rule - Ramit Shati has it slightly different). Mine are 

• Necessary / fixed costs = 55.5%
• Wants / leisure / guilt-free spending = 24.5%
• Saving and investments = 20%

I love good food, and fancy skincare and toiletries. These are very big pleasures and after a lot of scrimping, I am allowing myself some luxuries - living a rich life. 

DrCarrie

Today I sent my expenses claim from going to a reference a couple of weeks ago. 

And an NSD.

Too much time at work (in my living room). I ate relatively good food, but not much movement. Joined a walking challenge (at work)  for that starting next Monday, seem to have got out of the habit of that again!

Mortgage_Minimiser

DrCarrie said:

I watched the Diary of a CEO podcast - Steven Bartlett, with the guest Ramit Shati - I took a few things away from it, that were helpful /spoke to me. 

I have reworked my budget, I hadn't done it properly since December maybe. For reference, before I write my current saving totals I was 21K in debt 3 years ago. 

Saving pots 

1. 3-month Emergency fund = 1,125/4,750
2. House Deposit and fees = 9,302 / 15,000
3. Health saving (podiatry and dental) = 340   
4. Christmas savings =625/900
5. Holidays = 260

Keeping track of...

• Windfalls and leftovers from the budget 
• Tilly Tidy 
• Roundups
• Interest 
• No spend days 

Also activities .... I have previously used fun and frolics in the cheap seats, but after listening to Ramit Shati, I may also call such things as living a rich life.

I like to budget the percentages of my take-home pay for each area of life (the 50/30/20 rule - Ramit Shati has it slightly different). Mine are 

• Necessary / fixed costs = 55.5%
• Wants / leisure / guilt-free spending = 24.5%
• Saving and investments = 20%

I love good food, and fancy skincare and toiletries. These are very big pleasures and after a lot of scrimping, I am allowing myself some luxuries - living a rich life. 

Delurking to comment......I've just read your diary. It's great!

I got into Ramit Sethi earlier this year and love his no nonsense / positive approach. Have you watched his Netflix show?

Keep going you are doing great! Reading with interest.
MM
X

DrCarrie

Hi @Mortgage_Minimiser, thanks so much for stopping by! I am yet to watch the Ramit Sethi Netflix show. Defo is on the list though!

I have 100% living a rich life these past couple of days, went for drinks and alfresco Pizza with a friend and colleague on Tuesday, and stayed out well past my bedtime. Such a lovely evening in central London after work. Back in London on 07.23, Wednesday morning walked across London Bridge which is possibly one of my favorite activities, ever.  Lovely team day, collaborative working, and thinking always make me super happy. nipped for sushi and sat in the sun with another friend and colleague, had a good chinwag. Went for a drink with my boss, and then back to Brighton to catch up with people from choir...more wine, and lots of laughs. 

So definitely no NSDs.

In matters of money, I am about to claim a late train on Tuesday and set up a 'Furniture fund' Saving Pot. Also about to pop over to the NST thread and see if the new challenge is up.

beanielou

Not NSD’s but food for the soul. 

South_coast

He also has a podcast "I Will Teach You To Be Rich". I gave up on it after a while, as it was getting a bit samey (lots of telling guests off for not having bought his book), but could be worth a listen for more thoughts on living a rich life?

DrCarrie

Yes indeed @beanielou - much food for the soul! @South_coast I can see how it could get a bit samey, it's the same message over and over - and he is very evangelical!

So, not NSD - I need that NST change to get me tightened up again. went out and got wine and got wine after work. 
OOOPPPPPs

DrCarrie

Sunday round-up - with monthly totals

• Round-ups = £0.05
• Tilly Tidy = £3.50
• Interest (not tracked)
• Windfalls and leftovers = 39.35

- spend free days 2 (must try harder)

Saving pot totals (2 new)

1. 3-month EF £1,251 / £4,623
2. House deposit and fees £10,056 / 15,000
3. Health (eyes, teeth, and feet) = £424
4. Christmas £700 / £900
5. Holidays = £380
6. Furniture fund £3.50
7. Car fund £0.00

Living a rich life this week has been alfresco drinks and pizza, wine with my boss and choir, and getting new Hair Do! It was red, and now it is grey. 

It's been a good couple of weeks, coming back to the forum and thinking about things. I really do have some problems with the culture at work. It has a very negative impact on my wellbeing and whilst I appreciate the salary it's having too much of an impact on my life.

I need to get my exit plan initiated and start building my private practice again. I am going to re-do some training and get another bit of accreditation, which should be done within the next 3 months. But will need to borrow some money from a pot as I don't have one of those for CPD at the moment, but it is in the business plan. 

Looks like I need to start the business plan. Properly.