Finding it a bit difficult at the mo...

Gillybean

Can I grumble a bit please?

I committed to overpaying by £200 per mth, but am struggling with it. Yes I hit Aprils target but that was only because I used what money I had saved to put into the overpament.

I've been a SAHM for 2.5 years and have recently gone back to work. After nursery fees (which will go down a bit in Sept once funded sessions kick in) I'm left with about £200 a mth. So I thought it'd be easy to just stick this away in the overpayment fund.

But it's not so easy. Things keep cropping up that I need to pay for, eg a new outfit for a wedding. OK I could have found something in my wardrobe but this is a big family wedding and I NEVER spend money on me so I dod. Not tons, but enough to fine me verrry short for the rest of the month till payday, so much so I've transferred some money from my savings, which in my mind defeats the object of overpaying, I'm robbing Peter to pay paul in effect, arent I?

Gah, I need to think more positively, every penny I can get helps towards the end goal, doesn't it?

evab_2

Hi Gillybean, would it help you to have a monthly budget set out that includes things like clothes, birthdays, extra and put a little aside for this so when needed it will be there. Maybe think of overpaying less to begin with and then at the end of the month see what's left then pay this off as well.

Also can you get childcare vouchers, these have saved me loads over the last year - definitely worth investigating.

Ev

violetblue

Hiya Gillybean!

First of all, don't beat yourself up for spending a bit on yourself for once - we all need a bit of "wiggle room" in our budgets for when those unexpected expenses crop up, and if you don't treat yourself occasionally then you'll just end up feeling miserable! After all, we are supposed to be enjoying life too, overpaying isn't the be all and end all.

It's great that you've set yourself a target for overpaying, but it sounds like in reality it's a bit too tight. Perhaps if you lower your target a little, say to £150 a month instead of £200 then you won't feel so bad when you do need to spend a bit? That way if you do manage to pay the full £200 then you've actually gone over your target, which will give you even more of a boost!!! But at the same time you are left with a bit to spend on yourself without feeling too guilty.

It's all psychological - if you constantly see yourself as "failing" to meet your target then you'll end up feeling down and possibly giving up. And as you said, every penny is helping to bring that mortgage down!

On the other hand, there are loads of ways to earn a bit of extra money if you want to - ebay, amazon, online surveys, pigsback, quidco, car boots etc. On the DFW board there's a whole thread of people managing to make an extra £10 a day in these kinds of ways, they might be able to give you some ideas!

poppyoscar_3

I think we all feel a bit like that sometimes - I know I do!

The ultimate goal won't have suffered that much from your new outfit, and now you have something special in your wardrobe which you'll be able to use again.

I try to keep the attitude that everything that I overpay is something more than I would have paid anyway, so it's all GOOD!

Keep smiling!

PO xx

setmefree2

Hi

I'm not sure I would aim for anything - just overpay what you can when you can. Sympathise with you about the wedding. They cost a fortune!:D and nearly all the outfits get very little wear afterwards.:rolleyes: I do love a wedding though.....:p

All The Best

SMF2

Gillybean

Thanks guys,

In MSE style I've got a dress that I can wear afterwards- so yay for me on that one!

i think I will change my target to 150 or even 100, then anything extra I can pay in is a bonus. I'm just really keen on doing this now coz I'm on a rolling temp contract and not sure when it'll end. My boss is keen to keep me and is keeping quiet about my still being there- I was only meant to be here 12 weeks and 6mths on I'm still working!

Plus there'll be even more cash around come Spet when DS's funded nursery sessions kick in, that'll knock the bill right down.

I WILL do this!!

evab_2

Of course you will, once you start it is addictive but don't lose sight of living now. I don't have a specific target for my overpayments just put in what I can, I am enjoying seeing the total for the year rise over the weeks.

helliecopter_2

Hi GillyBean

You've overpaid £200 and that's brillant! You've made a good, solid start and I think that must be the hardest part. Just think how much interest you've saved already. I don't blame you for lowering your target if it makes you feel more comfortable during the month. The positive side will be when you smash your target you'll have such a boost.

I can't wait to be in the same position and start reducing my mortgage. I'm still a DFW and can't wait to get our debt cracked and join you guys on here. I love this board and it's my inspiration get get back into the black! I'm always lurking over here.... but not allowed to join yet.:mad:

Good Luck & will hopefully join you soon.
Hx

setmefree2

Hi Helliecopter,

You sound lovely. We can't wait for you to join us either;). Good luck with getting DF.:T

SMF2

ailuro2

There's not much point in overpaying to give yourself a long worry free retirement if you have a terribly miserable time getting there. It's all about balance. We never overpaid when DD was costing £300 a month and more in childminding fees and nursery fees, but now we're past that we are well on our way (see my sig)

Yes, it's great to overpay, but not at the expense of living a little now!

Enjoy the wedding!