Simple, sustainable and slow: Glenda's MF marathon

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  • julicorn
    julicorn Posts: 2,281 Forumite
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    GlendaSugarbean wrote: »
    Confession time: budget has had to be tweaked due to a slight overspend ... on our Eurovision party :rotfl::rotfl::rotfl:

    Snap! :rotfl:
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Mortgage neutral: September 2022, mortgage redeemed: December 2022
    New house, new mortgage: December 2022, £276,007
    Current balance: £217,800 minus £8,300 overpayment savings pot
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    Juliecorn We make our own celebrations - and one of mine is the Feast of Eurovision :D
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    Budget review before I get paid tomorrow:

    Good: additional mortgage OP of £42.26

    Bad: topped up fun money budget (£40) and groceries (£30) - these categories were fully funded, so that's £70 that could have gone to OPs or the emergency fund :mad:

    Challenges: focus!

    - Get through half term without too many additional spends

    - Stick to the grocery budget

    - Top up the savings pots as well as making OPs

    My salary amount is already showing as a pending transaction in my current account, but I'm being good and not entering it into YNAB until it's cleared :).
  • BachSoon
    BachSoon Posts: 172 Forumite
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    Great start to a diary. I am hooked already :D

    I will cheer you on :T
  • mumof3.12kindebt
    mumof3.12kindebt Posts: 1,474 Forumite
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    Good luck. Will be following your journey :)
    June 17 £16,000 debt ~ nov 18 DEBT FREE •June 21 £16,308 debt / july 22 debt free •Original mortgage free date 01/06/2059 current mortgage free date 01/05/2046
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    Thank you Bachsoon and Mumof3 :)

    Pay day finally! Although the healthy income figure soon disappears when I start updating YNAB :p. Anyway, the monthly budget is set, with a bit extra in groceries (5 week month) and fun money (half term). My monthly DD has increased, but thanks to my increased pension payments not going out yet I had a bit spare for a cheeky OP of just over £50.

    Current balances below. The aim for this month is to stick to budget, plus try to save around £10 a week for OPs. Aiming for a minimum of 10 NSDs.
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    Situation report:

    Mortgage: £165,430 / £171,000

    Emergency Fund: £1700 / £5400

    Savings pots topped up and extra school trip budgeted for :).
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    So last night I applied for a new CC :o. Justification is that it's a reward card tied to my current account, so I can use it for w everyday spending and then pay off in full every month. I use YNAB, so as long as I'm good at tracking all my spending it should be manageable.

    I was expecting a credit limit of a few thousand, which is all I need. Came back with an approved limit of £12,000 :eek::eek::eek:

    WHAT DO THEY THINK I'M GOING TO BUY AT A RATE OF 21% APR??

    No wonder it's so easy to get into unmanageable debt! Anyhoo, once the card arrived I'll be calling them to reduce the credit limit pronto. And I ticked the boxes for no credit increases without faking me :eek: and to pay off the balance in full by DD.

    Jeez. Am feeling very old and crotchety this morning about it all.

    Next q: should I cancel my 0% money transfer card? It's been useful in the past but I can't see me needing more than one credit card and it's been paid off for months.
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    That should be without ASKING me. Still haven't figured out editing on my phone. And get off my lawn :rotfl:
  • GlendaSugarbean
    GlendaSugarbean Posts: 689 Forumite
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    Today will be the first spendy day after payday: haircuts, picnic lunch out with a friend (food and train fare), BBQ this eve. Will try and keep things under control by getting the picnic stuff at Asda before we leave, and filling water bottles for drinks.

    Someone has upended a bag of caster sugar in the kitchen cupboard. Suppose I'd better sort it out before we get an army of ants marching through :mad:.

    I'm being retrained and not making an OP until tomorrow, when I can see how much I've saved from my weekly grocery budget :).
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