I can see the light at the end of the tunnel, now my saving journey begins!

shell16

Thanks, its just a bit of a shock, its like you are being prompted to use credit so that scores do not go down.  In all honesty I didnt use my credit card for the dishwasher and I should have done in view of the protection the card gives.  I have however used my credit card for the balance of my sofa bed which is due in the next week, so when that bill arrives I already have the money in one of my pots to pay that off.

Not alot to report at the minute.  Still making little payments to saving when I have any Save the change in my bank account or Prolific surveys.  Im currently just below cashout level and have around £3 pending.  Havent really focussed much on those recently and seeing as the prolific payments helped me pay towards debt in the past, I need to keep up with these so they contribute more to savings.

My weekly cash budget for Grocery and Fuel has reset today, had to spend £10 last night on shopping as we urgently needed some essentials so just added £90 to grocery today instead of the usual £100.  Im still forecast to have around £400 left in the bank by next payday so will hope I will not have to dip into and anything left will get transferred before my May payday to holidays as I need a fair amount for our Summer holidays as we eat out every day on this vacation. My target is £1500 and aptly named Hols Part 2.  I havent managed to send anything left from my weekly cash budget to savings as I have spent the full amount last week.  Im £20 short at the moment for my monthly saving Challenge which is £50 a month. 

Have a great day and weekend.
Shell x 

sunshine_raincloud

Hi Shell, 

I missed your actual debt free announcement as I haven't been on the site so much but I wanted to stop by and say a huge congratulations. You have done so incredibly well, and faced difficult times with an attitude that is very admirable. Good luck with all the savings! 

shell16

Morning, thanks @sunshine_raincloud for your comment!  Its nice to hear from you again.

A quick update from me.  Its weekly budget reset day today and I have £26.10 left from last week.  Added £1.10 to Penny challenge, £5 to Monthly Savings Challenge and £20 to Hols Part 2.  Budget is still going well and Im on track with all savings.

Shell x

shell16

Morning.  Just a very quick update from me as I'm away again in Southport.  Managed a prolific cashout and sent £7.38 to savings, still have over £5 pending so looking forward to that clearing soon. 

I'm not back until Thursday to work, girls at home tomorrow due to Teachers Strikes,  so will go to see mum with them, which she will like. Hopefully it will be a good day for her, and she will recognise us. 

That's about all for now. Have a great Bank Holiday! 

Shell x 

shell16

Back with an update.  Decided to change my savings.  Would like to Have £2500 in holiday savings by July and so I have moved some of the cash from my Home renovation pot and bedroom revamp pot. 

From my May payday, I will be transferring £640 PM to Holidays upto and including July (Total £1920) , August will be £330 (Total £2250).  The remainder of £310 will then be split 2 ways - £200 to Daughter 1 Birthday & £110 To Xmas 2023.

From September payday, I will transfer £640 to Xmas 23 upto and including October (Total £1390), November will be £110 (Total £1500).  £200 will go to Daughter 2 Birthday and I will have £330 Christmas Buffer if I need it.

From December 2023, I would like to start savings for a full 12 months rather than wait until January.

Annual Savings
Xmas 2024 - £1500
Daughter 2 Birthday - £200
Daughter 1 Birthday - £200
School Uniform - £150
Hols - £2500
Total - £4500 / 52 weeks = £87.50 PW x 4 = £350 PM
- I will snowball the savings to Hols until I have £2500 (7 months)
- Then Daughter 2 and School Uniform (need £350) (1 Month)
- Then Xmas 24 until I have £1500 (4 Months)
- Finally Dec 24 payday will use £100 as Christmas Buffer

Looks complicated but as we have holidays to pay for I would like to get ahead and start savings now to pay towards our Holidays in May 23, July 23 and Hols for 2024.

Long Term Savings
Home Renovation - £10000

Will be saving £350 per month from May 23 to Nov 23 (Total £2450), then from December 23 will increase to £640

Shell x

 

shell16

Morning. I'm off today and tomorrow on holiday.  Back from Southport yesterday. Girls off again due to Teachers Strike. 

Main Direct debits come out today including mortgage £825 plus usual over payment of £100. 

Also managed a save the change from main account of £5.13 & sent £5 to Savings Pot and 13p to SPC. 

A small update but non the less still making savings. 
Shell x 

shell16

I've just joined the MFW forum. My current outstanding mortgage is £84500 and have opted for a cautious £1000 overpayment for the remainder of 2023. My mortgage deal is up in June hence reason for being cautious ⚠️.  

Shellx

LittleMissDetermined

Those savings are mounting up now, you're doing so well! I am envious that you've joined the MFW boards, I am not starting to overpay the mortgage until hubby is debt free and we can both make the contributions.   In the meantime, I will be saving for my own goals. 
LMD x

shell16

Morning! My final day off today so going to make most of the good weather. Think bed strip, wash and on the line.

Payment of £9.30 today split £9 to mortgage overpayment and 30p to SPC. LMD, I thought it was a good idea to start focusing on the mortgage now debt has cleared and I have my plan in place to snowball savings going forwards. Hopefully the same Focus and determination will resume forthe mortgage debt.

That's about all for now.

Shell

LittleMissDetermined

Enjoy your last day off! I'm back to work today :(