Finally Debt Free After 34 Years, But Still Need to Live Frugally

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  • Seasidegal58
    Seasidegal58 Posts: 5,677 Forumite
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    I’m so pleased your BIL is home. It must have bucked him up no end. Your trip sounded fun with your in-laws - nice to get away for a change even though the travelling was tiring and it cost you a bit. But you’re back on the MSE straight and narrow now!
    Finally Debt Free! - July 2016 🌟
    Finished Emergency Fund- £10,000 April 2017
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    RETIRED: MAY 2021!!!!😀🎆
    My diary: “Seasidegal's Scrimpy Retirement Diary!”
  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    I certainly am back on the MSE wagon SSG :D, although the wedding in two weeks will be a financial challenge :eek:.

    Hopefully we will spend less on food as brekker comes with the hotel and lunch and dinner are provided at the wedding. So it will just be dinner on arrival day (Tesco vouchers), food on journeys, lunch for DS3 as only going to evening do and drinks at evening do. I say only :eek::eek:.

    I know BIL will feel much happier at home :).
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • EssexHebridean
    EssexHebridean Posts: 21,372 Forumite
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    That's ace news about BIL HH - so pleased to hear it!

    You're absolutely right about changing habits re spending extra income - and that's one of those tools that you've now identified and so will see you well in the future. Things WILL ease up a bit now you're totally debt free too - and part of that will be starting to learn to relax a little where it's of quality of life benefit to you - be that the occasional more luxurious foody treat, more travel to see family, or whatever. :D

    Definitely agree with the idea of having a secondary EF for emergency travel - if you have a lot of far-flung family that's a good plan. :T
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00
    Balance as at 31/12/23 = £112,000.00
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  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    Thanks EH. We have family all over the place including Scotland, Wales and Sussex :eek:, so if we're going to visit them then we definitely need a travel budget.

    I would love to spend a little bit on the odd treat or family visit, but I'm a bit anxious about it due to our variable income.

    If I can get the emergency funds to a decent level then I will feel a bit more relaxed about everything :).
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • beanielou
    beanielou Posts: 90,268 Ambassador
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    At least you don't have the debt to worry about now :)
    & EF's have made a good start.
    Rome wasent built in a day.
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  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    True beanie, we are definitely heading in the right direction :).
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • Seasidegal58
    Seasidegal58 Posts: 5,677 Forumite
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    I think the “travel breaks” fund certainly sounds like a good idea once you’ve got your main EF in place. You obviously love getting away - but naturally though youre still concerned about costs at the moment. I’ve got quite a few different “pots” running for various things but funnily enough although I have a “holiday and away breaks” fund I dont have one for social days out, like the theatre. I think I’ll get one up and running in the New Year.
    Finally Debt Free! - July 2016 🌟
    Finished Emergency Fund- £10,000 April 2017
    🌟
    RETIRED: MAY 2021!!!!😀🎆
    My diary: “Seasidegal's Scrimpy Retirement Diary!”
  • Cherryfudge
    Cherryfudge Posts: 10,036 Forumite
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    That's very good to hear. :)
    I think a bit of sunshine is good for frugal living. (Cranky40)
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  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    Seasidegal58 wrote: »
    I think the “travel breaks” fund certainly sounds like a good idea once you’ve got your main EF in place. You obviously love getting away - but naturally though youre still concerned about costs at the moment. I’ve got quite a few different “pots” running for various things but funnily enough although I have a “holiday and away breaks” fund I dont have one for social days out, like the theatre. I think I’ll get one up and running in the New Year.

    It does sound like you need a Social pot SSG. Do you keep your pots in lots of different savings accounts, have an envelope system, or are they virtual pots?
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
  • HairyHandofDartmoor
    HairyHandofDartmoor Posts: 13,960 Forumite
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    Thanks Cherry :).

    Yesterday was fairly uneventful. A NSD (apart from DS3's bus fare) and a no survey day. We just spent the day working at home and although I'm still tired after the travel, it felt like a dull day by contrast :o.

    Today is another day of working at home, but I am going to a friend's house for coffee in my lunch break (she lives in the next road so I can walk :D).

    Have a good Friday everyone :).
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = £58,766 😱 DEBT FREE 31 OCTOBER 2017 :T 🎉
    EMERGENCY FUND 1 = £50/£5,000. EMERGENCY FUND 2 = £10/£5,000.
    CHRISTMAS SAVINGS = £0/£500. SEF = £1,400/£12,000 PREMIUM BONDS ME = £350. PREMIUM BONDS DH = £300.
    HOLIDAY MONEY = £0 TIME LEFT TO PAY OFF MORTGAGE = 5 YEARS 1 MONTHS
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