My 5 year plan

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  • Storm89
    Storm89 Posts: 592 Forumite
    Happy No Spend Day :D
  • fatrab
    fatrab Posts: 1,231 Forumite
    My first no spend day (yesterday) was a success! Trying for 2 in a row! Have made a shopping list for the next 3 days as all current food will be eaten by lunchtime tomorrow so will go shopping after work tomorrow and that'll be us through til Saturday.


    Received £175 for my December expenses from work today. I had sort-of forgotten about them so that was a pleasant surprise.


    First thought was "oh yes, what will I buy" closely followed with a swift self-applied slap to the head.


    So I've transferred £158 to the emergency fund, which now stands at £1000! That'll do for now, will add more to it in March/April once the Credit card, HMRC and the purchase of a new microwave are taken care of.


    Also, switched the Gas and Electric. It was in my wife's name but the deal has just ended and she'll be on statutory maternity pay as of next month so it seemed sensible to switch to a better deal and transfer into my name/account. £20/month "saved" apparently!


    A few other little things have changed since I last did my SOA back in December so I think I'll re-do it at the start of Feb and get a better picture of where I stand.


    Cheers!
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • enthusiasticsaver
    enthusiasticsaver Posts: 15,445
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Ambassador
    Excellent diary. We have a built in microwave in our kitchen which is still going strong after 20 years!!! Think we have had our moneys worth out of it.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • fatrab
    fatrab Posts: 1,231 Forumite
    Excellent diary. We have a built in microwave in our kitchen which is still going strong after 20 years!!! Think we have had our moneys worth out of it.


    Yes I think you have! I thought 12 years was good!


    We bought a matching microwave, toaster and kettle in 2006 the day we moved in. Never used the toaster so gave it away many moons ago, kettle still going strong. Was looking to replace microwave with similar (Russell Hobbs) but cheapest matching one we can find is £65.


    So it'll be the cheapest(ish) one we can find. Don't need to buy it until 19th Jan as we have the use of one from elsewhere until then and if we're frugal we'll have enough in current account to buy it (assuming £40ish), no need to use emergency fund or credit card.


    Cheers!
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • fatrab
    fatrab Posts: 1,231 Forumite
    edited 9 January 2018 at 12:04PM
    Slight miscalculation in my favour! I hadn't deducted the minimum payment that was taken for Credit Card 1 (MBNA) last week, so the balance is down from £1040 to £978.80!


    Called up and reduced credit limit to £3000 (was £10000). Unsurprisingly, there was a great 0% deal available if I wanted to transfer another balance! Eh.. no thanks!


    Payday can't come quick enough so I can get this card paid off. I will keep the card active for now, as will use it again to pay HMRC and then from time to time I have business expenses which I claim back though my employer.


    I have also amended the direct debit for this card to repay the full outstanding balance from now on.


    I really feel like I'm getting somewhere. I hope this momentum keeps up!
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • fatrab
    fatrab Posts: 1,231 Forumite
    Not feeling so great today, midweek slump methinks.


    Need to go do a bit of shopping, will fuel up while I'm there. Going to try the downshift challenge at the supermarket.


    Feel like I'm wishing my life away wanting payday to come around so I can start to make an impact on the current situation.
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • fatrab
    fatrab Posts: 1,231 Forumite
    You know, I actually think that the fact I had to spend yesterday was what got me down.


    "saved" £5.20 by downshifting. NSD today and feeling good about it too!


    Coasting along now until the 25th (payday). Fingers crossed for no more blips this month.
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • Storm89
    Storm89 Posts: 592 Forumite
    I feel exactly the same as you with waiting for february. Payday for us is 31st so literally the last day of the month. But we feel the same with just coasting along, don't want to wish my life away but wish it was february so we can start properly .
  • fatrab
    fatrab Posts: 1,231 Forumite
    Storm89 wrote: »
    I feel exactly the same as you with waiting for february. Payday for us is 31st so literally the last day of the month. But we feel the same with just coasting along, don't want to wish my life away but wish it was february so we can start properly .
    It's quite a hard thing to come to terms with, that you're basically just going to have to sit there and get on with it when you're used to going out doing what you want.
    Its finding new things to do, ways to be entertained without spending, challenging yourself to be thriftier and while focussing so hard on not making a mistake.

    Then, when payday comes, there will be a day or two of arranging and allocating money (which I'm looking forward to) but then the lull until the next event in your timeline occurs.

    At least February is a 4 week month!
    You can have results or excuses, but not both.
    Challenge - be 14 Stone BY XMAS!

  • fatrab wrote: »
    Slight miscalculation in my favour! I hadn't deducted the minimum payment that was taken for Credit Card 1 (MBNA) last week, so the balance is down from £1040 to £978.80!


    Called up and reduced credit limit to £3000 (was £10000). Unsurprisingly, there was a great 0% deal available if I wanted to transfer another balance! Eh.. no thanks!


    Payday can't come quick enough so I can get this card paid off. I will keep the card active for now, as will use it again to pay HMRC and then from time to time I have business expenses which I claim back though my employer.


    I have also amended the direct debit for this card to repay the full outstanding balance from now on.


    I really feel like I'm getting somewhere. I hope this momentum keeps up!

    I read yesterday that due to charges on credit cards being abolished from mid January HMRC are no longer accepting tax payments on credit cards. You may want to double check on that.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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