£4K First – Mortgage Freedom Next

GlitzyLady

A Fresh Start – Building the Foundations First 🌱

Hello everyone 👋

I've decided to start a new diary and return to MFW with a slightly different approach this time.

Rather than posting every little financial happening, I'm going to use this diary as a place for accountability, reflection and watching the numbers gradually move in the right direction.

My plan is to check in every Monday, looking back over the previous week's spending. Then, at the end of each month, I'll do a proper review of how I've done against my goals.

🎯 The Big Goal – Emergency Fund First

Eventually I would love to start making mortgage overpayments, but I've decided that before I throw extra money at the mortgage, I want to build a proper financial safety net.

So Mission Number One is:

Emergency Fund: £500 / £4,000 🛟

That means I've already got the first 12.5% tucked away. Only another £3,500 to go!

Once the EF reaches £4,000, I can decide what comes next and start thinking more seriously about mortgage overpayments.

🪴 Watching My Pots Grow

Alongside the Emergency Fund, I have various savings pots for different expenses. One of the figures I want to track each month is my total pot balance.

My pots are:

Total pots: £1248.11

Rather than obsessing over every individual movement, each month I'll compare the total with the previous month:

Last month: £412.56This month: £_____Change: + / - £_____

Hopefully there will be plenty of +'s over the coming months! 📈

🚫 True No-Spend Days

For July I set myself the challenge of achieving 15 TRUE no-spend days.

And when I say true, I mean £0.00. No popping into a shop for one thing, no little online purchase and no conveniently deciding something "doesn't count". 😂

July target: 15 no-spend daysAchieved so far: 8 / 15

I'll set a new target at the beginning of each month.

📅 Monday Money Check-In

Every Monday I'll look back at the previous week and ask myself:

What did I spend?How many true no-spend days did I manage?Was there anything I regret spending money on?Was there anything I bought that was genuinely worth it?What do I want to do differently this week?

I'm hoping this gives me enough accountability to think about my spending without turning money management into something I need to think about every five minutes.

So that's the starting line.

🛟 EF: £500 / £4,000🚫 July NSD target: 15
🪴 Pots: £1248.11🏠 Mortgage OP: Waiting patiently for the EF!

Let's see where I am this time next month. 🙂

GlitzyLady

It is the first Monday, here is what I have spent in the last week: -

My spending is way out of control, it needs to be quite a lot less, I have had a change in circumstance I need to aim for a significant amount less if I am to reach goals.

What did I spend?

£134.63

How many True No spend days did I manage?

2 (total now 8)

was there anything I regret spending money on?

Yes so many snacks

Was there anything I bought that was genuinely worth it?

Yes some of the snack money was actually a gift and it was well deserved.

What do I want to do differently this week?

Well I have a grocery shop coming at the weekend, firstly I need to prepare for it make sure I haven't over-ordered and also as it is the first of August soon actually prepare an allowance where I want my spending to be each week so I have a figure to aim for.

beanielou

Happy shiny new diary.

GlitzyLady

Thank you @beanielou

July Update – 4K First, Mortgage freedom next

Another month done, so here's my update!

Pot total

• Beginning of the month: £412.56
• End of the month: £1,386.76
• Increase: £974.20 🎉

I was really pleased to see the pots grow so much this month. It feels like all the little decisions throughout the month have added up, and it's motivating to see the balance finally starting to build.

Emergency Fund

• Beginning of the month: £350
• End of the month: £500
• Increase: £150

It isn't the biggest increase in the world, but it's another £150 between me and needing to rely on credit if life throws me a curveball. Slow and steady is still progress.

No Spend Days

• Target: 15
• Achieved: 10

I missed my target by five days. I'm not too disappointed though, as I've had quite a busy month with a few planned expenses. Rather than dwelling on it, I'll treat it as something to improve on next month.

Goals for August

1. Increase my savings pots.
2. Increase my Emergency Fund by £400.
3. Achieve 15 true no-spend days.

Overall, I'm really happy with how July has gone. Every month I'm becoming a little more intentional with my money, and watching my Emergency Fund and savings grow is making me feel much more secure about the future. Onwards and upwards! 💪

GlitzyLady

It is Monday again and therefore I am reviewing the last weeks spend: -

The table on the left includes essentials Groceries & new clothing, I am losing weight and need more trousers and underwear.

The table on the right is tracking all those extra little bits that are not essential. Which at £66.75 is an improvement from last weeks 123.38 (deducting groceries).

How many true no spend days did i manage?

2 (leaving July on 10) (August 0)

Was there anything I regret spending money on?

No, I just still need to spend less.

Was there anything I bought that was genuinely worth it?

Yes the travel allowed me to explore and get out of my home for a bit.

What do you want to differently this week?

I would like to build up true no spend days as last weeks was 2 maybe 3, however the ultimate goal is more. Lets see.

GlitzyLady

It Is Mondays Spending review: -

This weeks spend 67.74 up by £0.99 from last week.

Pot total at the beggining of the month: - £1386.76

Pot total now: - £1472.97

Difference: - Up £86.21 after adding £400 at the beggining of the month which is disappointing, the clothing pot is close to zero which took a chunk.

How many true no spend days did i manage?

5 which I am happy with

Are there any regrets?

Yes snacks and take out too high

Was there anything I bought that was genuinely worth it?

Yes I have bought a new remote for my new to me tv.

what do you want to do differently this week?

Actually I am hoping to go on a day trip so I could have a bigger spend next week, but I haven't bought a holiday it will just be a day trip and I am allowing myself this.

South_coast

What does the snacks category cover? Is there a way you could bring that down by buying multi-packs from the supermarket for example, and taking from home?

GlitzyLady

Hi South Coast,

Recently £10.50 spent in Sainsburys on a meal deal I was craving and pastries,

I spent £17.40 on fruit, chicken and baguette because I am fed up with what I have in, I also got chocolate cake I am not sure what else i got?

I spent £3.30 when i took a parcel to a shop i never visit but they had my favourite chocolate in

The total is £31.20

I am actually considering changing how I shop because I am fatigued by one monthly shop and the limited options for lunches, my dinner and brekkie are fine, but lunch I could do with ham salad, salami or egg mayo - basically fresh food which won't keep for a month. It would mean increasing my budget for groceries to double from £100 per month or therabouts to £200 or even £250 some months as I get online shop and the limit is £50 for one shop. But then I may not get the snacks, but then I would spend more, however I am really fed up with my meals. It is just lunches I am fed up with, I could get the lunches in a top up shop in local supermarkets instead instead of having weekly online shops and set myself a budget for lunches, without the food for lunches in the monthly shop the groceries would reduce and I can add a bit to the monthly budget. Yes I like that plan. Thank you.

GlitzyLady

Mondays Spending Review: -

This week’s spend is: - £111.01

Which is up from last week by: - £43.27

However I did spend £228.44 as you can see on the table on the left however it was for essential clothing and groceries. The actual non essential spend was lower at as I mentioned £111.01

Pot total at the end of last month: - £1386.76

Pot Total Now: - £1462.29

Difference: plus £75.53

How many True No spend days did I manage?

3

Are there any regrets?

Yes getting too much and eating too much sugary foods.

Was there anything I bought that was genuinely worth it?

The new shower hose, I was thankful for the shower when it arrived!

Spending Thrill of the week

I bought an Epilator I haven’t used it yet but I went out with the intention of spending £95 when I got to Boots I found the model I wanted was half price at £47.50!

What do you want to do differently this week?

For the rest of the month I just want to stick to essential spend as I do want the pot total to increase each month. I have food in and all I will need is bread and milk, I may also buy a burger sauce to improve the taste of food I have in – spicy bean burgers!

GlitzyLady

Mondays Spending Review: -

This week’s spend is: - £200.18 + £31 for hair = £231.18

Which is up from last week by: - £120.17

However I did spend £219.88 + £31 = £250.88 as you can see on the table on the left however it was for essential groceries. The actual non essential spend was lower at as I mentioned £231.18

Pot total at the end of last month: £1386.76

Pot Total Now: £1221.26

Difference: Minus £165.50

How many True No spend days did I manage?

2

Are there any regrets?

Hairclip for £15 should not have happened but I do like it.

Was there anything I bought that was genuinely worth it?

I have spent £65.99 on a bed topper in the hopes I won’t need a mattress for some time.

Spending Thrill of the week

I had my eye brows done and they were done very well for £8 although if I am trying to get my spend down it probably was not wise!

What do you want to do differently this week?

I want to only have essential spend this week – only milk and bread. No extras & get as many true no spend days. I will plan the day before and stick to it!

GlitzyLady

I have now decided to do monthly spending reviews instead of weekly: -

Hi,

I have been busy spending and now I need to curb said spending and save, hence why I have come back to the forum. My lodger has moved out however I have a new lodger moving in at the end of the month of October and they will be paying more as they are here full time.

My spending for the last period is as follows: -

HOME and Snacks are the biggest contributors, that can be changed.

However I have already put big HOME items on this months spend as well as the previous period, so it will be a bit of time before the crop ripens. However I can work on Snacks and eating out this month and that will hopefully contribute towards a success. Lets see the current period so far so I can have some goals in place: -

I have already surpassed last month and we are on day 9 only out of 30 eak..Goals: -

HOME will not go beyond £450 (once refund put in place)

Snacks & Eating Out to not go beyond £100

Groceries reach £140 max

& No other spending.

My Pots have been depleted and on the left current POTS status and on the right POTS goal for October: -

Have a good month yourselves XX