Flying solo

marzipan.

Hi Twiggy, I’m a frequent reader of your inspirational diary and felt I should mention that regarding the pension, please consider putting extra in from your salary sooner than later as your future self will thank you for it. Consider the projection of what you’d receive at retirement if you leave it as it is at the moment and then consider cost of living rises and inflation etc and see if it’s enough to maintain life as it is now or if you’d need to be contributing more now to help your future lifestyle. It seems such a long way off that it’s often overlooked especially when we are told that employers are contributing it’s often bare minimum which would not always be sufficient (albeit better than nothing) I hope that makes sense. I’d also recommend enquiring about AVC contributions and treat any pension contributions as an Essential bill when budgeting. They are tax efficient also so if you’re earning over higher tax brackets it could help negate some tax payments. 

It’s definitely worth looking into even if you decide it’s not for you once you have a clearer understanding. 

With regard to the current pension with the employer you’re about to leave, get a projected retirement figure for it. It can seem daunting but I found that by biting the bullet and enquiring about my own I was able to put extra provision in place while still in my late 30s and I’m so relieved that I didn’t ignore the advice given to me. 

Keep doing what you’re doing sad you’re smashing it!! 

marzipan.

Sorry couldn’t edit my post, that final sentence should Not say sad, that should say ‘and you’re smashing it’ ! 

twiggy86

Thank you @marzipan. - it's definitely something I know less about than I should! As you say, it seems so far off when you're "young" that it gets overlooked. Also, thank you for saying my ramblings are inspirational - I often I feel I ramble about a whole lot of nothing and don't make as much progress as I should! 

Quiet evening last night - did my 2 Vinted listings (one old and one new) and have found something else "new" that I intended to list later. Me and bf just watched a bit of TV with dinner and then I managed to get some knitting done - I'm now half way through the ribbing on the second sleeve, so should be able to get that complete, bound off and then block the whole jumper this week before I make a decision re length (I have PLENTY of yarn left over, so that isn't an issue). 

Tonight I will just grab a quick dinner before acro. Bf is going out for dinner with his son straight from work, so probably won't see him until I get back about 9:30. I also have a whole weekend of acro - as have workshops from 10-6 on Saturday and Sunday, so it's a full on week with netball tomorrow too! 

Today's list of bits and bobs... 

• Make lunch to take to work 
• Water indoor plant (forgot yesterday... which is why I can't be trusted with plants!) 
• Make CC payment (one statement has come in)
• Update spreadsheet 
• Small bit of knitting at lunch (have pooch with me so will walk her as well) 
• Research how to unpick bind off in knitting 
• Start researching pensions! 
• List 2 things on Vinted
• Quick dinner (something from the freezer)
• Pay lowest amount at acro  

twiggy86

So it was 2 years tomorrow since I found out my ex was cheating on me and got the kick up the rear to sort out my finances! I have a bit of a busier day at work tomorrow so I doing a "progress report" today. 

In that 2 years I have gone from having a debt total of £15,600 to today where it stands at £6,965! So I have cleared £8,635 in that time - which equates to having cleared 55% of my debt! This breaks down as:

• June - Dec 23 = £2,600 (16%)
• 2024 = £4,194 (27%)
• Jan - June 25 = £1,840 (12%)  

I have also built up a £1,000 emergency fund (twice!) in addition to doing various bits on the house. My DIY/ house spend for this year alone is £2,940! My previous spreadsheets went a bit awry when I moved them onto a google drive, so it's difficult to calculate the amounts I have paid in the previous 12 months (i.e. since last June) but I think I spent in the region of £1,000 on the house in the last 6 months of the year and also paid off £1,200 on a table (see comments below). I also put £1,000 towards a car - although that is on finance and not included in my debt totals at the moment. 

I haven't made as much progress as I would have hoped for the first part of this year but I put that down to two main things - 1) boiler needing replacing; and 2) changing the way I manage my sinking funds. Sinking funds are currently "full funded" with £1,990 split between the various pots - although some are ongoing (such as pooch fund) so that will continue to grow. Also, now that they will just need "topping up" as and when used, I will have more available money to chuck at the debt so hoping it will start to go down quicker. Although I do still have projects on the house that I want to start/ complete so will need to build up a fund for them (currently only £195 in DIY pot). 

One thing I have learnt is not to take things out on finance (ignoring the car)! I got a dining table last May which cost £84 per month - which hasn't been an issue and it was interest free, but I still wish I hadn't done it! I annoyed myself in doing it, as it felt like I hadn't learnt my lesson about debt! However, that was paid off last month so I no longer have that "hanging over me"! 

Overall I feel like I could have made more progress in that time - but I have also been trying to find the right balance between getting the past (i.e. debts) gone and living for now. However, the main thing is the peace and clarity I now have from my financial situation. None of the previous uncertainty I had when I was with my ex and I have proved that I am capable of managing money, so have lost some of the self-doubt (that I didn't realise I had).   

Goals for the rest of the year are to keep sinking funds topped up, build up a substantial(ish) DIY fund for future projects and pay a minimum of £500 off my debts each month. If I can do that it should mean that by the end of the year I'll have cleared another £3,000. Of course once I have clarity on my new monthly wage I can re-assess and up the monthly amount (should be closer to £750 per month I'm hoping but depends on any pension decision I make). 

I am both excited and nervous about my new role, but I feel like the extra money I'll be getting will definitely help speed up my progress! Then I can finally put this phase behind me and start looking more towards the future! 

satchmo1

You have made magnificent progress with your debt repayments, savings, projects, career progression, fitness and your mental wellbeing. You are awesome!! Don't minimise your achievements. 

dawnybabes

You’re doing amazingly and still living and enjoying life 

Sarahwithlove

You've made such good progress during that time you should be proud of yourself. 

twiggy86

Thanks for your comments - I was just speaking to my boss and saying how 2 years ago I couldn't have envisaged my life (and the peace) that I have now! 

Last night was as planned - quick bite of dinner and then a super fun acro class! Managed 2 NSDs in a row (I don't count acro as it is accounted for separately at the start of the month). I have netball tonight and then am off work until Tuesday! I am helping bf sell his mum's car tonight (well giving him a lift back from dropping it off) - will involve a bit of hanging around after work, especially as boss keeps letting me leave early as I have so little to do! Oh and I also only have 2 rounds of ribbing and the bind off to do on the jumper sleeve - probably won't attempt the bind off tonight though! 

Plans for the weekend... Tomorrow I am spending the day with my mum for her birthday (although it isn't until the 15th) - I have tickets to a local garden thingy place(!) and then plan to treat her to lunch in a local village. Then weekend is full of acro workshops - I will take a packed lunch with me as 1) saves money; and 2) isn't anywhere convenient to the place to grab anything! There is some talk about going out for dinner on Saturday night but will see how I feel - and also bf is going with his sister and kids to scatter their dad's ashes on Sunday and I feel bad not being around for him, so may opt to just go straight home. Currently my only plan on Monday is for my friend to cut my hair - will see what the weather is like and what I fancy doing! 

Anyway, on to today... 

• Make lunch to take to work 
• Update spreadsheet 
• Knitting at lunch  
• Research how to unpick bind off in knitting 
• List 2 things on Vinted
• Dinner from stores
• Park for free at netball 

joedenise

When you bind off your neck and sleeves you could try using a larger sized needle so that it's a bit looser.  No idea about undoing it though!  Good luck with that!

twiggy86

Back at work after a lovely long weekend! It was a bit spendy so my first job (which I've already done) was to put everything in my spreadsheet and make sure everything tallies up correctly! 

Friday was a day out with my mum - we went to a beautiful garden/ sculpture park and then had some lunch. Tickets for entry were purchased last month (£30), picked her up some flower (£15) and bought us both a tea and cake to wander around with (£9) and then lunch was £28. So total spend was £82 from the "present pot", which I don't think was bad in all, although my mum was trying to pay for lunch! She is an incredibly generous person and hates money being spent on her so in all honesty wouldn't have appreciated a present of that value as she'd be too busy worrying about the expense! So for a day out and memories made I'm happy. We are also going for a family meal on Saturday so will be some further cost involved but I will only be buying her the "standard" malteasers even though it is her 70th! I may also try to get a family photo on Saturday and then get it printed and framed to give to her.

I did have a takeaway pizza on Friday evening with bf and his daughter so that cost £8. Then just spent the evening in front on the TV doing some knitting - managed to get the sleeve of my knitted jumper all finished!

Saturday and Sunday were mainly taken up with acro, as had a weekend intensive workshop. Very challenging and tiring but well worth it! I did buy a cuppa and a slice of cake (£5) on Saturday but had taken lunch.. but on Sunday was naughty and got a burger (£12) and then ate the lunch I had taken with me as my dinner instead - so pleased the food didn't get wasted! I could have gone out with some of them on Saturday night for some dinner/drinks but opted to go home to catch bf's daughter before she went to bed and chill out for the evening instead. 

Then yesterday was a day off with very little plans and just seeing what I fancied doing! So I walked pooch to post some Vinted parcels - machine not working properly meant I turned it in to an hour long walk in the sunshine to go to a different shop! Then got back and did a bit of knitting in the garden whilst the washing was on - managed to get all the body stitches of the jumper picked back up and some progress made there. Then took myself into town for a mooch around the shops which is something I very rarely do - I did pick up some jeans and I top which are arguably unnecessary but there is money in the "clothes pot" (most of my purchases are second hand, so unusual for me to buy stuff new!) I was undecided on a couple of other things so purchased them but then realised that if I'm not sure then it should be a "no" and so will return on Saturday! Think after the returns the cost will be £80. I then treated myself to lunch and a beer sat outside a cafe in the sunshine whilst doing some knitting - now I know I eat out probably too much given that I'm trying to pay off debt, but doing it by myself was previously unheard of! And I really enjoyed sitting there on my own, although I did feel slightly awkward! Then my friend cut my hair (£10) and then finally returned home! I did then end up going out for dinner with bf (see, said I eat out too much!) so that cost another £15! 

So yes, a spendy weekend! Although *only* £63 from my personal spends as everything else came from my "pots". 

In more positive news, I'm waiting on £22 to come from Vinted - £10 will go to the "house" pot as is something of bf's, and the other £12 I need to decide where to allocate it. I did also make a CC payment as my other statement came in. 

I've waffled on quite enough in this post so I will check back in shortly with weekly/ daily tasks!!!!