Road To Financial Recovery

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81894089#Comment_81894089

the early part of the year always absolutely hammers me as it is when all my big expenses hit and whilst I was semi prepared it was not enough to cover tyres, MOT/Service / Repairs and upcoming car insurance. However what it did do was buy me time so that the only thing I had to fund out of my wages for Jan were half of the repair cost, so that was a win. It also convinced me that saving up through the year is the right way and I need to commit to that.

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81894106#Comment_81894106

I do think that subtle change from savings to sinking funds could be a difference, strange how the mind works haha it's the same money but maybe not thinking I should be using it as savings will help. Long term savings are also not something I have really ever had my sight on either to be honest. I would love a place to call our own but I believe that chance has probably passed now so we will see. I would love to be in a place where we can focus on building up some time to enjoy retirement though.

MillQueen

https://forums.moneysavingexpert.com/discussion/comment/81894274#Comment_81894274

It sounds like what you had saved up served you really well. Future you is also going to be really grateful for the efforts you are making now. This time next year it’s going to be great to see what it’s like then.

FootyFanDan

https://forums.moneysavingexpert.com/discussion/comment/81894263#Comment_81894263

I have had mixed results with the pots thing tbh although I have never really fully committed to it. I have always put money in one place called emergency fund and when anything unexpected happens that covers it. Whilst this is okay and has worked to an extent, I don't believe I should be using the emergency fund for the stuff I know can be planned and I know are coming. I just need to commit, the thing for me is I fund these through the month so it's making sure I do those manual transfers. My emergency fund is something that I want to be there in an actually emergency.

daisy_1571

I found that, bacr when I first started doing as you are. All out insurances and other yearly expenses came out jan to May putting us on the back foot for the rest of the year then it all started again. Suddenly it made sense in a way it doesn't if you just look at monthly expenses.

This year is an adjustment year. Next year will be easier, the following easier again as you tweak and learn more about your priorities.

Dxx

FootyFanDan

So, today didn't exactly go to plan. We ditched the basketball evening in favour of treats and watching more stranger things later. The little one wasn't really keen on it, and we decided staying home was the better option. So at 8 we will be powering off devices and then watching a few episodes, a few drinks and pizza is in order

It's been a frustrating day for a few reasons but much of it out of my control, it certainly has shown me though I need to be a bit more resilient and also not so forthcoming in offering to help ppl.

LzzyIsGod

I'm a big Pots fan (as you know !) But I have found starting a new Pot and getting it growing can be the trickest bit time wise. Bit like the initial EF in the early days - you start saving and something comes along and ruins all the progress you made. It's only when it becomes nicely established it seems to be easier to."top up" rather than "build up".

Sorry to hear about the frustrating day but hopefully pizza night will have helped.

FootyFanDan

@LzzyIsGod Pizza defo did the trick and was needed. Re the pots I will be happy to see some of them getting filled up. Last year we did a xmas one which made a huge difference.

@daisy_1571 I think the fact I am starting fresh is daunting but I know the process works so I just have to stick with it.

Today has been a nice day, although if I needed a reminder of how unfit I am then the hour spent at trampoline park definitely did that 😂. Food shopping was done yesterday so I have been able to just have a restful day. Car has been topped up and now should get me through until payday.

FootyFanDan

Monday ticked off 😊. Work was a bit of a manic one today and a few meetings. Tomorrow will probably shape up pretty much the same. No spends planned for this week so should get to payday with spare funds which will go into emergency funds pot.
Hoping to get an earlier sleep tonight than yesterday and I certainly wasn’t happy hearing my alarm this morning 🤣

FootyFanDan

I managed to get rid of three of my list of stuff that needed doing completed today. I marked these down as what I absolutely needed to get done - non negotiable. I will take that as a win!. It has been an okay day, the days just seem to be flying by.

2 more days until payday. Today's financial win, whether it is the right choice or not is I have completely removed the overdraft option from Monzo, whilst it was only £100 it is still too tempting and although ashamed to admit it I can just not right now be trusted with it there. So that is now removed, I won't miss it and in the days where I had no real idea of bills and stuff it was that safety net. It simply isn't needed now, next month I will rip the plaster of and remove the one I have on my other account which is also £100. I don't need that temptation right now, I am needing just to screw my head back on and just focus.

Sleep is starting again to become a little issue, some work issues also need resolving. Oh and I also need to get my butt fit again…trampolining was not a good idea 😂.

It was a NSD though!