Saving, Living, and Ditching the Mortgage

RedLipstick

Thank you for all the suggestions @seventh88 and @debtfreewannabe321, few names I didn't know but I do recognise their faces! I'm a big fan of Ricky Gervais as well, and Katherine Ryan! 

I've decided to submit an official complaint few days ago about the refund and guess what, money finally arrived this morning. Wouldn't bother for few pounds but it's a bit over £300 so quite a nice chunk. In the MSE spirit, I've topped that up with some buffer money and sent £500 towards one of the CCs. January dd stays as planned but it reduced February dd by circa £40, not bad. My direct debits are set up for minimum payments only, and I just throw extra money at it as I go, mainly on a payday. 

I'm having a quiet time over Christmas this year, just me and the cat. My family lives abroad, as few of my friends as well, so we'll do some video calls later on today to catch up. Still need to post a few Christmas cards to my neighbours - through the letterboxes so thankfully no need to dress up! Will get on with my MSc tonight if I feel like it, for now I'm just enjoying a day off finally, I think it's my first day off work since August.

Progress

• Save £10k in emergency fund: £800 £830
• Get mortgage down to £150,000: £158,300 -- no change 
• Pay off credit cards 
• #1: £3,500 (0% until May 26) -- no change
• #2: £9,000 £8,500 (0% until July 26)

Total on cards: £12,500 £12,000 

Planning a pretty frugal January so fingers crossed it goes below £10k next month. 

Hope everyone has a fantastic festive time and wishing you all the best in 2026!

beanielou

Enjoy your day. 

RedLipstick

Happy New Year everyone! 

2025 is finally in the past. I was looking forward for the year to end, it was a horrible year for me from start to finish, though the past two weeks have been pretty peaceful, and, looking at the photos from the year, there was a fair amount of fantastic time as well, so cannot complain really. Grateful for my family and friends as always. I'm off work until Monday and working through my dissertation so it's nice to have only one thing on my mind now, even though it doesn't feel like time off at all!

Not much to update today, but the direct debits are now taken. I added some extra money here and there to zero the balances, now waiting on a payday to get it down more. 

Progress

• Save £10k in emergency fund: £830 -- no change
• Get mortgage down to £150,000: £158,300 £158,000
• Pay off credit cards 
• #1: £3,500 £3,400 (0% until May 26) 
• #2: £8,500 £8.200 (0% until July 26)

Total on cards: £12,000 £11,600

debtfreewannabe321

I'm aiming for a similar goal to you @RedLipstick to get my mortgage down to £150k. I'm slightly higher than you at the mo though at around £161k. 

I was also looking forward to the year ending wasn't the best one for me either. 🥂 Here's to the next one being better for us both!

beanielou

Soon be into the tens on the credit cards. 

Dakota_Rose

I have just caught up on your diary @RedLipstick and it sounds like you are doing so well. Lots I can relate to and I will be following along. 

It must be a real relief to have the renovation work complete for now. I hope you’ve had a lovely start to the year in your new and improved flat and that your sister is recovering well.  

RedLipstick

Vey busy month at work and uni continues. Hopefully all done on the uni front in 2-3 weeks time, but it's all submitted now so fingers crossed. Work is very busy with multiple projects to go out this month/quarter. I'm feeling a bit funny about my work lately as the 2026 is looking like it's not going to go in the direction I want it to go. But I'll let the uni dust settle and then consider next steps.

On the money front, cash budgeting is going surprisingly well, meal planning and shopping list definitely helps. I've only spent £66.20 so far this month on groceries, lots of proteins, and fresh veggies, and using up whatever I find in the freezer and cupboards. Made surprisingly tasty bbq chicken pasta last weekend and it's same again in slow cooker right now, will just use it with different pasta this time. It was a bit of experimental, as I've had ketchup, tomato chutney, bbq sauce, garlic paste, lots of herbs and frozen mixed peppers. Mixed the chicken thighs with the marinate in the slow cooker bag and voila, what a beautiful dinner 4 hours later. I've recently started buying just the normal 2kg skin on thighs, and what a difference in the price, £2 per kg vs £9 for the ones with no skin/bone. I don't mind paying for convenience but that 2vs9 is quite a difference. Used up the bones for stock and cooked my favourite soup, caldo verde, with sweetheart cabbage instead of kale though. My frugal shopping shall continue for now.

Also went to my local library the other day. Didn't have any ID with me to get the library card, so will go again on Friday. So excited, I absolutely cannot wait to do some reading other than journal papers!

In terms of the finance, I was hoping to get the CC balance down to the 9's this month but had to leave a bigger buffer in case factors send yet another bill for some work we here never see them doing. 

Progress

• Save £10k in emergency fund: £830 £1,050
• Get mortgage down to £150,000: £158,000 -- no change
• Pay off credit cards 
• #1: £3,400 -- no change (0% until May 26) 
• #2: £8,200 £7,000 (0% until July 26)

Total on cards: £11,600 £10,400

I'm planning to target card #1 going forward as May is getting closer, with 3 paydays that's circa £1,200 per month.

Hope everyone is well. Did you notice the days are already a bit longer? Weather is still nasty here in Scotland but we do get some sun from time to time, and it's no longer middle of the night at 4pm!

All the best xx

[Deleted User]

You are doing well, keep it up. The days are also getting longer here as well, and the weather looking quite grey most days at the mo. But like you I feel optimisim about it allXX

Dakota_Rose

That’s impressive on the food spends front! The meals sound lovely too. 

seventh88

Well done, it sounds like you've got some good strategies and the cash budgeting has been a success for you :) keep at it