Now for a healthier, wealthier me

LittleMissDetermined

Hello everyone 👋

Today I have paid my final debt repayment and because having my diary on the Debt Free Wannabe boards has been so valuable in keeping me accountable and focussed, I figured that having a savings diary would be a good idea as my next step. 

About me - For those I’ve not yet met, here’s a bit about my situation. I’m 45, married but no children, we do have a very pampered dog who is an absolute joy!  I work from home and DH works shifts.  Our base household income is just under £110k per annum and bills are all split equally and paid from our joint account.  Mortgage is £141k o/s and approx £240k value.  We are fortunate enough to be able to live comfortably and I have been paying approx £1150 a month to clear my debts, sometimes more since Jan 2021.

I have a Monzo account for my savings and have these goals in mind:

• Emergency fund of £1,000

• Sabbatical fund of £10,000

• Holiday fund of £1500

• General saver (no goal) for things I want to buy, without credit!

I do already have some money saved in the sealed pot challenge which I will be opening at the end of October and I use this for Christmas, holiday spending and my Black Friday shopping trip. I’ve also been stuffing envelopes in a 52 week envelope challenge which will total £1300+ in 2023 so I’m already saving quite a bit.

I do need to add a little disclaimer. I have been paying down debt for so long I’ve not really been spending much on things I would like or sometimes need. So there will be splurges here and there, but I will have saved for them rather than relying on credit, I would ideally like to allocate £500 a month to savings. Although we have already booked a fabulous holiday in November and I need to also save for that as a priority as it needs to be paid by August.

Also, I have a bit of an addictive personality… which contributed to both the building up and the paying off of my debts.  Hopefully I can transfer the obsessions to saving and getting fit/exercising from here-on-in. I’m on a low fat diet so I have shed a few lbs already, but there’s a LOT more to tackle I’m afraid.

I’m excited for what I can do now that my debts aren’t hanging over me. It’s time to focus on me.

LittleMissDetermined x

~FlowerPot~

Welcome to the savings board

Flowers

x

MissPennySave

Happy new savings diary, I've pulled up a chair and am here for the ride.  I look forward to all your savings updates!! MPS.x

Skint_yet_Again

Well done on paying off your debts 🤗 I look forward to following your savings journey. 

LittleMissDetermined

Thank you everyone   I'm excited for this next chapter 
LMD x

shell16

Yay and welcome to the savings board LMD!  Good luck on the next leg of your journey!

Shell x

Keedie

It's so exciting to see your new thread up and running and I'm looking forward to seeing you smash your savings goals 🤗. Enjoy the odd splurge and enjoy life whilst building your savings, it's more than deserved. x

LittleMissDetermined

Thanks everyone  
Just a little update that I've managed to cash out £12 from Prolific and I've sent this to the sealed pot.
LMD x

LittleMissDetermined

Hello, it’s all still feeling quite surreal really and it was strange not making a daily payment to the credit card.

Instead, I have made a £3 payment to the emergency fund. Not a lot, but from experience my PADding does add up and every little helps.

Healthy eating wise, I’m having cereal for breakfast with skimmed milk, ham salad for lunch and dinner this evening is a chicken stroganoff. Dinners in the evening are a compromise for hubby who definitely doesn’t need to diet. Plus, I’m very much a ‘foodie’ so I don’t want to completely deprive myself. We cook from scratch so we know what’s in it too.

Today will be a NSD for me. Ahead of a spendy, sociable weekend. I have plans every weekend in May so maybe my 18 NSDs in May target is a stretch! 🤣

That’s it for my first update.
LMD x

Skint_yet_Again

It feels strange seeing the figures going up when you first pay off your debt after spending so long getting them down to zero. You just have to remind yourself the increase is a positive not a minus 😊

Have a lovely bank holiday weekend 

Sun_Addict

Happy new diary. Look where I was this lunchtime 😉