Hope is not an Effective Financial Strategy

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  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Hidden thanks for the info, it saves me looking at small print. I'm not sure it's complacency that gets us, more that once routines are set up we inevitably hit a mid month slump. TT's keep me motivated at this stage, and the TT's keep me looking at the spreadsheet and asking what if. For example if I do make the extra payment it'll take daily interest down to £6.59 as opposed to £6.60. It's amazing the motivation for dipping into the next 10p bracket alongside colouring in 2 bricks!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Thanks Cath, another early riser (fortunately for me I'm not!)! I'm pretty certain I've lurked and maybe even commented on yours, though there's so many it difficult which ones to pick at times!

    I'm glad it wasn't too dull for you!

    Onto today. 57p TT'd this morning and accounts looking healthy so the 'top up' will definitely happen and may well be £45 rather than the expected £65.
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
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    shangaijimmy wrote: »
    Hidden thanks for the info, it saves me looking at small print. I'm not sure it's complacency that gets us, more that once routines are set up we inevitably hit a mid month slump. ... It's amazing the motivation for dipping into the next 10p bracket alongside colouring in 2 bricks!

    For me it's a bit of both. If I don't push ourselves on the budget then we just go on with the norm and don't find out if we could get by with £10/mo less in the grocery pot, or what-have-you. If I do push myself and just OP that £10 straight away, it lends momentum for me to keep wanting to make the (small or large) OPs so I keep thinking of ways to save/earn extra money.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    I've been musing on this one all afternoon! Given people generally have a monthly budget then providing we don't have any major, or unplanned expenditures then we should have at least £100 surplus to allocate somehwere! This is how i will justify rounding OP's up, or balances down from now on!!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    57p TT'd this morning, and more importantly 3 days to accounts posting, spreadsheet updating and brick colouring! Woo!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    £25 spent on sealant for our leaky gutter and grouting for the patio! So materials bought , I now need the deceptive combination of weather and motivation!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • Ali-OK
    Ali-OK Posts: 4,073 Forumite
    First Anniversary Debt-free and Proud!
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    Weather due to turn a bit warmer for the weekend I think... could be a decent Bank Hols for a change.

    For me, that'll be 2 days procrastination to dig over the garden border and 1 day when I actually do it :rotfl:
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • CathT
    CathT Posts: 7,115 Forumite
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    Fingers crossed for dryer weather. It really has been grim lately! I used to wish the month away to be able to do updates on the 1st.
    Apr 2024 - part 1 - £30,337 part 2 - £24,811 Total - £55,148 43 months to go!
  • debtfreeoneday
    debtfreeoneday Posts: 4,814 Forumite
    Mortgage-free Glee! Name Dropper First Anniversary First Post
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    Not sure whether I should hope for dry weather for you or not..
    DFW (08/08) £64,346.53 Gone (02/19)
    MFW (08/08) £118k Gone (09/23)
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    The sealant I don't mind, that only a 15min job, the patio is a different animal altogether! I'm considering sealing it this year to try and make the grouting last longer, but all depends on how good/bad a job I do!

    50p TT'd this morning, 2 days to posting!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
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