Small steps lead to big changes...

jwil

I thought I'd start a new diary for the new year.  It always feels like time for a nice fresh start, and whilst I don't really make resolutions, it's always nice to have a plan of things I'd like to achieve.

After many, many years of struggling, it feels like my finances are finally on a more even keel, and I have for the first time ever, managed to do an SOA with a largely balanced budget, including a small amount for building an emergency fund.  This is amazing in itself, and I don't take it for granted, particularly in this financial climate.

There's me, DH, little jwil (9) and little miss (7).  We also have a cat (16) and a dog (10).

My diary title reflects the last few years where I have been making changes, but often feeling like I'm achieving little, or even going backwards.  It now seems to have reached a point where everything is starting to fall into place, largely because of those changes I have made.  I want to continue this into other aspects of my life, and remind myself that although I don't always see big results, that eventually things will happen if I stick at it.

jwil

Financials

I started off with over £35k worth of debt over around 7 creditors.  I now have two left.  These are on a DMP and at 0% with small payments each month.  I plan to just leave them to tick over at the current level unless either creditor offers a decent F&F offer and I have the cash available.  They have both fallen off my credit report so no issues there any more.  My final defaulted debt which is already cleared, will fall off my report in January, and I will have a clear report again!  This might come in handy if we take on credit for home improvements, though we are trying to save for it at the moment.

My key focus is the mortgage.  It's the highest interest debt, though we were very fortunate and fixed for 10 years at 2.07% just before all the interest rate rises last year.  We actually have 13 years left, but my aim is for the end of the fix to be my mortgage-free date - 31st May 2032.  I need to knock off just over 3 years to do that. I have been making a Payment A Day (PAD) to the mortgage for the last year - sending £2 or so from my current account, and also sending any 'extra' money, e.g. survey money etc as well.  Last year this meant I overpaid £1,340 without even noticing!  

Savings - I am trying to build savings and a decent emergency fund.  I have a LISA which will be used for retirement, premium bonds which aren't too easy to dip into, and various savings accounts otherwise which I do have a habit of dipping into.  Hopefully with a decent budget this year, I might not dip into them so much this year.  The exception is for work done on the house, I'm happy to dip into them for that, and we covered a £2.7k electric works bill last year largely from savings.  

Plans for this year is to continue PADding to the mortgage and also building the savings.

House

Our house needs loads of work doing to it, and we haven't been able to do much to it, mostly due to finances.  We are finally starting to be able to do this, and last year, rewired around half of the house.  We hopefully will do the other half this year.  Some windows have been upgraded, most still need doing.  The plan for this year is to finish the electrics (bar kitchen, as that might as well be left until we do the kitchen), and decorate and carpet the kids bedrooms which have just been done.  Maybe the hallway and landing too, as that has been done.

Another barrier to getting the work done is the amount of stuff we have.  I have largely cleared mine, though can always find more to get rid of.  DH is a work in progress, and so are the kids.  I dream of a house without piles of stuff everywhere!

Continue with the great declutter list!

Health

I need to work on my health and lose some weight.  I am classified as morbidly obese and was recently diagnosed as prediabetic.  I made a lot of changes last year, but didn't really lose any weight.  This is where I get disheartened and need to refer to the title of my diary.  As long as I keep trying, hopefully eventually I'll get there.  

This year I'd like to lose 2 stone, as that would get me back below the weight at which I started 'feeling' the weight.  Before that point, it didn't really impact on me.  I need to get more active as well.  Walking to work on my day in the office and walking the kids to school will be the easiest way of achieving this.  I find it too easy to use the car when I'm really busy at work, so I need to change my mindset and see this as an important focus on my health.  I have put some hand weights next to my work laptop to remind me to try and do a few upper body exercises whilst I'm working, particularly if I'm in a meeting (camera off! )

Work

Last year I moved to compressed hours, doing my full time hours over 4 days rather than 5.  The extra day off is amazing, but it is sometimes challenging.  I tend to start at 6.30am and do 2 days finishing at 6.30pm and 2 days finishing at 4.30pm ish.  This includes me taking the time out to do the school run, and so saves me on childcare costs as well.  Those 4 days are intense, hence why it's so tempting to save some time using the car.  It's not saving me that much time though, so it's a pretty poor excuse, and if I walked more, I'd probably get quicker anyway.

jwil

Debts:
1. £3500
2. £4562

Total: £8062

Mortgage - £96,177.49

Savings:
LISA: £1272.70
Premium bonds £1025
Emergency fund: £3.36

jwil

Last year's totals:

DMP debts reduced by £172
Mortgage reduced by £4,800.47
PADs to mortgage - £1,340
Savings increased each month
c.£2,700 found for electric works without taking on new debt.

Declutter totals: 
Magazines/papers: 214
Ebay parcels: 287
Other: 1123

Total: 1624

Ebay listings: 202

Survey/other earnings:
Amazon: £75
Paypal/cash: £383.71
Other vouchers:£40

BalanceBy50

Happy New Year and shiny new diary 😊. So much of what you have written really resonates with me & could equally be my life. 

You are such an inspiration! 

Xx

jwil

BalanceBy50 said:

Happy New Year and shiny new diary 😊. So much of what you have written really resonates with me & could equally be my life. 

You are such an inspiration! 

Xx

Aww thank you   Happy New Year to you too.  I think we are secretly twins  

jwil

Well we've made a good start with the decluttering for 2023 today.  Out of 4 bulky items listed on FB, 3 have sold and been collected already   DH has also sold a bulk lot on eBay too.  So that's a nice start to the year

Back to work and school tomorrow.  I am in the office so planning on walking.  I must not be put off by the weather forecast!

I did realise yesterday that my trainers are going through on the sole.  I need to look out for some new ones.  Hopefully I can find something good in the sales.  I might wander into town at lunchtime tomorrow if I get a chance.  I've already got stuff for taking a packed lunch, so won't be needing to spend on food.

pennywisepoundstupid

Happy New Year and Happy New Diary xx

BalanceBy50

jwil said:

BalanceBy50 said:

Happy New Year and shiny new diary 😊. So much of what you have written really resonates with me & could equally be my life. 

You are such an inspiration! 

Xx

Aww thank you   Happy New Year to you too.  I think we are secretly twins  

I think we really are! X

jwil

pennywisepoundstupid said:

Happy New Year and Happy New Diary xx

Thank you

BalanceBy50 said:

jwil said:

BalanceBy50 said:

Happy New Year and shiny new diary 😊. So much of what you have written really resonates with me & could equally be my life. 

You are such an inspiration! 

Xx

Aww thank you   Happy New Year to you too.  I think we are secretly twins  

I think we really are! X

 

WinterWarrior

Happy new diary. You have made amazing progress since the beginning of your journey ⭐️