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  • FIRST POST
    • Needhelpsaving
    • By Needhelpsaving 14th Nov 16, 5:58 PM
    • 701Posts
    • 2,847Thanks
    Needhelpsaving
    Getting back on the MFW Wagon
    • #1
    • 14th Nov 16, 5:58 PM
    Getting back on the MFW Wagon 14th Nov 16 at 5:58 PM
    Hi

    I have attempted this MFW wannabe journey before, with little success and after reading so many threads on the forum, would like to try again.

    Looking back, trying to start a MFW challenge with a newborn was possibly not the best time for me as I had made grand plans, just when our income was decreasing.

    A little bit about us, I am 29, have an OH 34 and a LO aged 3. We bought our home 8 years ago and have a mortgage of 80,000, a family loan of 7,000 and 0 in savings

    Our first goal is to save a 1500 Emergency Fund by the end of February, whilst staying on track to pay off family loan (on target to pay off in June 2017).

    I have finished all my Christmas shopping, except 1 gift, so should be on track to save a decent chunk of my salary next month (I work part-time).

    I need to stay accountable in this journey and what better way than to publish it on the internet?!
Page 15
    • Needhelpsaving
    • By Needhelpsaving 9th May 18, 11:06 AM
    • 701 Posts
    • 2,847 Thanks
    Needhelpsaving
    Just popping in with an update to keep me on track.

    The declutter remains on track - I have sorted DD1 craft cupboard - enough said.

    I have a bag for the charity shop and a bag of clothing to be recycled.

    Yesterday was a little spendy - 3 bus fare to get to midwife, 20ish at Asda (10 pairs new socks for DD1, a new bath mat, some bread and 2 cups of tea in the Asda cafe whilst feeding DD2).

    Today will be an NSD, with the focus being; decluttering, finding ebayable items and keeping the house ticking along.
    Last edited by Needhelpsaving; 09-05-2018 at 11:10 AM.
    Target 1 - Emergency Fund Currently 8053.15/10,000

    Target 2 - Pay Mortgage Down to 65,000 by 31/12/18 Was 71,006.49 (01/01/18) Now 67,534.47 (18/05)
    • Needhelpsaving
    • By Needhelpsaving 11th May 18, 5:26 PM
    • 701 Posts
    • 2,847 Thanks
    Needhelpsaving
    Wow - where has the week gone?

    Yesterday we had the weekly grocery shop delivered, it came in at around 55 for 10 days of meals/snacks etc. Forgot to buy some more eggs, washing up liquid and under-estimated our milk usage, so I will need to pick these 3 things up over the weekend whilst I grab the two bits of meat I need from the butcher.

    Today has been an NSD and I have started to look at alternative income streams that I can use to boost my income now I have dropped to SMP. I have applied for some transcribing work today and completed the grammar tests earlier too; just need to wait to hear back now.

    3-4 items put by to be listed on ebay this weekend. Mainly DD1 clothes that have barely been used due to growth spurt.

    A job that still keeps being recycled is OH shares - if i'm honest that will be a job for next weekend (I need to hunt down the paperwork first).
    Target 1 - Emergency Fund Currently 8053.15/10,000

    Target 2 - Pay Mortgage Down to 65,000 by 31/12/18 Was 71,006.49 (01/01/18) Now 67,534.47 (18/05)
    • Needhelpsaving
    • By Needhelpsaving 16th May 18, 1:32 PM
    • 701 Posts
    • 2,847 Thanks
    Needhelpsaving
    Good Afternoon.

    Things have been ticking along nicely here, all of which are helping us get to our MFW aim.

    The decluttering has continued and the house is feeling much better. It was just that general day to day stuff that if you aren't mindful of, just seems to multiply and set up camp in cupboards and corners

    I have another bag to go to the charity shop and some more bits for ebay (plus all of the carp gems that were sent to the bin/recycling ).

    I terms of money activity, we have continued to eat from the meal plan (with the exception of a cheeky Greggs at the weekend).

    I have spent approx 20 since my last update (9.25 of this was on DD2 birth certs). I have also added another 5 amazon voucher to my account courtesy of SB.

    2.50 has been claimed today from Clicksnap and I have been accepted for the transcription work I applied for. I am just working my way through some e-training to get myself familiarized with the system before taking on work.

    Jobs for today;

    1. Complete and send off Child Benefit form for DD2.
    2. Continue with Transcription training.
    3. Check Surveys/SB etc to keep accounts ticking along.
    4. List new items on ebay.
    5. Look at savings accounts for DD2.
    Target 1 - Emergency Fund Currently 8053.15/10,000

    Target 2 - Pay Mortgage Down to 65,000 by 31/12/18 Was 71,006.49 (01/01/18) Now 67,534.47 (18/05)
    • earthgirl
    • By earthgirl 18th May 18, 7:00 AM
    • 1,997 Posts
    • 22,394 Thanks
    earthgirl
    Hope you are all well and I can't belive how focused you are, put me to shame!
    15/5/12 Paid off Mortgage 1 (220k) Dec 13 - 116,508 Bought Dream House Dec 14 - 94, 402 (22,106 offset in 2014) Jan 16 - 67, 852 (26,550 offset in 2015) Dec 16 - 33,529 ( 34,323offset in 2016)
    Jan 17 - 39, 773 (Re-estimation of endowments )
    Sept 17 22,619 Jan 18 - 11,687 Mar 18 -8524
    Kids savings 13,578/36k
    • Needhelpsaving
    • By Needhelpsaving 18th May 18, 11:26 AM
    • 701 Posts
    • 2,847 Thanks
    Needhelpsaving
    Hope you are all well and I can't belive how focused you are, put me to shame!
    Originally posted by earthgirl
    I don't think that's entirely true when you have worked your bum off to get your dream home

    Love this forum as your all so supportive
    Target 1 - Emergency Fund Currently 8053.15/10,000

    Target 2 - Pay Mortgage Down to 65,000 by 31/12/18 Was 71,006.49 (01/01/18) Now 67,534.47 (18/05)
    • Needhelpsaving
    • By Needhelpsaving 19th May 18, 7:31 AM
    • 701 Posts
    • 2,847 Thanks
    Needhelpsaving
    Jobs for today;

    1. Complete and send off Child Benefit form for DD2 - Form posted yesterday.
    2. Continue with Transcription training.
    3. Check Surveys/SB etc to keep accounts ticking along.
    4. List new items on ebay - about 50% have been drafted, I MUST do that today and order some postage bags too.
    5. Look at savings accounts for DD2 - Going to go with the same on as DD1, just need to book an appointment to open it in branch. Will try calling today to get an appointment booked.
    Originally posted by Needhelpsaving
    The last couple of days we have had a couple of big spends (about 200 total), which i'm a bit uneasy about after trying to be frugal.

    120 was spent on groceries (including 3 gifts, a stock of 240 nappies, and a bulk buy of tea bags that were on offer). These things made up around 50% of the bill Plus I still have to go to the butchers

    DH and I also received 50% off vouchers for new trainers via his work vitality health plan. These were things that we identified as needing to be replaced during the recent wardrobe declutter. We both chose a pair of Nike trainers and the came out at 40 each instead of 80 each. DH wardrobe is looking quite good as he had bought some new clothes with his birthday money.

    We tend to buy mid-range pieces and then wear them until they need replacing (i.e. I don't have an overflowing wardrobe )- at the minute, the vast majority of my wardrobe needs to be replaced. I will keep my eye out for some new jeans (these are desperate) and the rest will have to be replaced bit by bit.
    Target 1 - Emergency Fund Currently 8053.15/10,000

    Target 2 - Pay Mortgage Down to 65,000 by 31/12/18 Was 71,006.49 (01/01/18) Now 67,534.47 (18/05)
    • shangaijimmy
    • By shangaijimmy 19th May 18, 8:15 AM
    • 2,720 Posts
    • 13,436 Thanks
    shangaijimmy
    Great scheme for the new trainers.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction 40,984.38
    Aug 2009: 163,051 // Current: 95,015.63 // Avg Daily Interest 4.27
    MFiT-T4 #8 - 74.24% of 41,000
    • Needhelpsaving
    • By Needhelpsaving 22nd May 18, 2:12 PM
    • 701 Posts
    • 2,847 Thanks
    Needhelpsaving
    Well, frugality went out of the window over the weekend - 2 pairs of new jeans were purchased, 16 spent at butchers, 40 in boots, 22 in next for the couple of bits DD1 needed to complete her wardrobe and 10 for OH suit to be dry cleaned.

    Looking back, I am disappointed at how quickly I slipped back into old habits. The only consolation was that the items were needed.

    We are back on the wagon - meal plan has been followed since Friday, 6 items listed on Ebay and an NSD today. Found another 3 ebayable items today that will be uploaded during nap time tomorrow morning.
    Target 1 - Emergency Fund Currently 8053.15/10,000

    Target 2 - Pay Mortgage Down to 65,000 by 31/12/18 Was 71,006.49 (01/01/18) Now 67,534.47 (18/05)
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