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  • FIRST POST
    • cuddlymarm
    • By cuddlymarm 22nd Dec 18, 9:43 AM
    • 1,284Posts
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    cuddlymarm
    Frugal in retirement
    • #1
    • 22nd Dec 18, 9:43 AM
    Frugal in retirement 22nd Dec 18 at 9:43 AM
    Hi guys
    OH took early retirement two years ago. I still work part time because I find I need a little structure and enjoy the extra money.
    Weíre never going to be rich but we have a nice little flat ( it needs a few tweaks, the bathroom and kitchen both need revamping) but are ok at the moment and is where we want to be and old age proof for later in life.
    We have quite a bucket list that keeps growing and weíll never get through it all but are aiming to try our best.
    But itís ok bringing in the extra money but I feel we need to squeeze the most out of what we already have and make every penny count.
    So this thread is where I want to pop by and update on my progress and keep me on track.
    Xmas is all bought now (apart from my nephews kids who I will give money when we visit) so no more spending.
    Once Xmas is over I will report in regularly.
    Anyone who wants to keep me company please feel free to join in
    Cuddles
Page 8
    • Suffolk lass
    • By Suffolk lass 7th Feb 19, 2:48 PM
    • 2,667 Posts
    • 25,942 Thanks
    Suffolk lass
    Goldiegirl - many thanks for the links.Under the new state pension laws I had thought I could get sp at 67 so I now nee to look into exactly how many years NI I paid - I had paid all the time while I was teaching and then I I had enterprise allowance so my NI was paid through that too.
    Thanks again
    Originally posted by threepenny bit
    You would additionally have received NI credits for being in full time education from age 16 (extending through to a degree if you did this straight from school). Definitely worth registering and using the new (in 2018) SP calculator
    MFIT T5 target to clear our mortgage completely (£59,998) - Mortgage Free Wannabes 2019 #37 £26,242.80 after Mar
    Save £12k in 2019 - #68 target is £7k £3,669.04 after Mar
    OS Grocery Challenge 2019 target is £3k - 23.57% spent so far, after starting April shops
    My DFD is here
    • threepenny bit
    • By threepenny bit 7th Feb 19, 2:51 PM
    • 222 Posts
    • 1,831 Thanks
    threepenny bit
    Thanks Suffolk lass - I didnt know that! I don't have any credits for while I was doing my degree which was straight after I left school though.
    Last edited by threepenny bit; 07-02-2019 at 3:06 PM.
    Fashion on a ration 5/66 used.

    Save $2019 in my savings account during 2019 - 37/2019
    Work on selling items and decluttering
    • cuddlymarm
    • By cuddlymarm 7th Feb 19, 7:56 PM
    • 1,284 Posts
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    cuddlymarm
    Hi again Threepenny bit
    My family are based at Medicine Hat. The people were lovely, really friendly. We are definitely going to have to visit Canada again.
    Cuddles
    April NSDs 3/15
    2019 Grocery Spend £480.68/£2000
    April Grocery spend £91.04/£120
    • Suffolk lass
    • By Suffolk lass 8th Feb 19, 7:14 AM
    • 2,667 Posts
    • 25,942 Thanks
    Suffolk lass
    Thanks Suffolk lass - I didnt know that! I don't have any credits for while I was doing my degree which was straight after I left school though.
    Originally posted by threepenny bit
    I should have added that you would also be entitled to NI credits for any period you gave up work to look after children, providing that you claimed child benefit (together with any periods where you were unemployed and "signing on" - as it was called back then).

    I really think using the Gov.uk tool to check your SP is your starting point. Now is the time to check it - before you need it.

    While I am on the NI subject, be aware that while you were teaching, the default position was that public sector workers were opted out of SERPS, so entitlement to state pension during those years would be at the "Basic Pension" rate, not the higher one, unless you specifically elected not to opt out of SERPS (which almost nobody did).
    MFIT T5 target to clear our mortgage completely (£59,998) - Mortgage Free Wannabes 2019 #37 £26,242.80 after Mar
    Save £12k in 2019 - #68 target is £7k £3,669.04 after Mar
    OS Grocery Challenge 2019 target is £3k - 23.57% spent so far, after starting April shops
    My DFD is here
    • threepenny bit
    • By threepenny bit 8th Feb 19, 8:49 PM
    • 222 Posts
    • 1,831 Thanks
    threepenny bit
    cuddlymarm - that is a little ways from me, I am between Calgary and Banff.
    Suffolk lass - checked my NI and I have 22 years which was a big shock to me lol! I got NI for the years bringing up children before I went back to teaching. I have partial NI for my years doing B.Ed and they seem to be from when I worked during holidays etc and not while studying. I will write and ask about this though, I have 18 years forecast not paying enough but i can't afford to buy back as I am paying in Canada anyway.
    I didnt elect to opt out of SERPS either!
    Fashion on a ration 5/66 used.

    Save $2019 in my savings account during 2019 - 37/2019
    Work on selling items and decluttering
    • Suffolk lass
    • By Suffolk lass 9th Feb 19, 7:23 AM
    • 2,667 Posts
    • 25,942 Thanks
    Suffolk lass
    cuddlymarm - that is a little ways from me, I am between Calgary and Banff.
    Suffolk lass - checked my NI and I have 22 years which was a big shock to me lol! I got NI for the years bringing up children before I went back to teaching. I have partial NI for my years doing B.Ed and they seem to be from when I worked during holidays etc and not while studying. I will write and ask about this though, I have 18 years forecast not paying enough but i can't afford to buy back as I am paying in Canada anyway.
    I didnt elect to opt out of SERPS either!
    Originally posted by threepenny bit
    That is all good news. If you were to wish to boost the gap, you can only go back up to 6 years and there was an article in the money pages of one of the broadsheets (or it might have been Martin's writings) saying the rate you pay for previous years that is currently based on that year, is due to go up in April (2019) so that you would pay more for previous years. I only remember it because I have five tax years ahead of me before SP age is reached and I remember thinking this was typical! I did opt out of SERPS, for 28 or 29 years. My degree is also the years when my record is incomplete but as I had a gap between Full time education and starting it, I cannot claim for mine and the holiday jobs were not enough. What a good surprise though - 18 years!
    MFIT T5 target to clear our mortgage completely (£59,998) - Mortgage Free Wannabes 2019 #37 £26,242.80 after Mar
    Save £12k in 2019 - #68 target is £7k £3,669.04 after Mar
    OS Grocery Challenge 2019 target is £3k - 23.57% spent so far, after starting April shops
    My DFD is here
    • cuddlymarm
    • By cuddlymarm 11th Feb 19, 8:38 AM
    • 1,284 Posts
    • 7,445 Thanks
    cuddlymarm
    Good morning guys
    Itís lovely here this morning, the wind has dropped and itís a lovely clear day. Not much to report here really, itís an odd time of year I think. Not much to do, waiting for better weather and holidays.
    Iím working on decluttering a bit at the moment. Iíve a bag to drop off at the CS on the way to work, then Iíll work on filling another. Clutter is sneaky it just builds up gradually until you notice it I think.
    Every spare penny is being hoarded away to pay the balance on our holiday in July at the moment. Holidays are our treat, and you never know when health or circumstances might mean that they canít be done, so weíre going to Cuba in July, a cruise from Dubai next year and then 2021 is a real biggie. We are going to New Zealand ( we did Australia a few years ago with 2 other couples) We all save a little monthly and after a few years can afford it. The trouble is my bucket list just keeps getting longer. But the memories are wonderful, Iíve been really lucky.
    Well done guys on all the research and organisation. Itís lovely that we can help each other.
    Anyway better get on, thereís some lovely overtime calling me today.
    Keep well guys
    Cuddles
    April NSDs 3/15
    2019 Grocery Spend £480.68/£2000
    April Grocery spend £91.04/£120
    • PipneyJane
    • By PipneyJane 12th Feb 19, 12:51 PM
    • 1,045 Posts
    • 8,034 Thanks
    PipneyJane
    Every spare penny is being hoarded away to pay the balance on our holiday in July at the moment. Holidays are our treat, and you never know when health or circumstances might mean that they can’t be done, so we’re going to Cuba in July, a cruise from Dubai next year and then 2021 is a real biggie. We are going to New Zealand ( we did Australia a few years ago with 2 other couples) We all save a little monthly and after a few years can afford it. The trouble is my bucket list just keeps getting longer. But the memories are wonderful, I’ve been really lucky.
    Originally posted by cuddlymarm
    I loved New Zealand, Cuddlemarm. I was there in November for a wedding. We stuck to the North Island - didn't have time to do both. A big highlight of our trip was the day we spent on the White Island, a active volcanic island in the Bay of Plenty near Rotorua. If you can squeeze it into your itinerary, do so. You won't regret it.

    - Pip (child of the "West Island" of New Zealand, aka Australia)
    "Be the type of woman that when you get out of bed in the morning, the devil says 'Oh crap. She's up.' "

    C.R.A.P R.O.L.L.Z. #47 Official Brain Harvesting Body Counter
    • cuddlymarm
    • By cuddlymarm 18th Feb 19, 6:46 AM
    • 1,284 Posts
    • 7,445 Thanks
    cuddlymarm
    Thanks PipneyJane
    We havenít started the planning bit yet, just the saving up bit.
    When we did Australia we stayed for two days in Kuala Lumpur, then a week in Perth, the took a cruise from Perth to Sydney ( no unpacking or flying and saw lots) then a few days in Sydney, then to Melbourne where OH and his brother met their Uncle and cousins that they had never met. It was fabulous, but also added more places to our bucket list.
    The planning part, with their being three couples is also part of the fun.
    April NSDs 3/15
    2019 Grocery Spend £480.68/£2000
    April Grocery spend £91.04/£120
    • wondercollie
    • By wondercollie 18th Feb 19, 2:41 PM
    • 1,257 Posts
    • 9,556 Thanks
    wondercollie
    Goldiegirl - many thanks for the links.Under the new state pension laws I had thought I could get sp at 67 so I now nee to look into exactly how many years NI I paid - I had paid all the time while I was teaching and then I I had enterprise allowance so my NI was paid through that too.
    Thanks again
    Originally posted by threepenny bit
    Another Canadian here. CPP is a mine field of uncertainty. They have discussed several times raising the retirement age to 67. My govt pension outlook is dismal. If I take it at 60, itís less than $500/month! I have to look into how much it rises when I claim the years I stayed home with our children. Unfortunately, from the paperwork Iíve seen they wonít do the calculations until your application goes in.

    My work pension is also small because I was part time most of my career. I used to joke that my retirement plan was to outlive the husband an use his survivors benefit. Actually, if I use his benefit, the widows benefit and what I get from work, Iíll be fine but itís a scary drop in income.

    The government deducts the CPP value from his government pension, so its a joke.
    • cuddlymarm
    • By cuddlymarm 21st Feb 19, 7:32 AM
    • 1,284 Posts
    • 7,445 Thanks
    cuddlymarm
    Good morning guys
    Iím not on work until later so I thought Iíd pop by.
    Itís a bit warmer here but soggy. But no heating needed so thatís good.
    OHs shoulder is on the mend, he doesnít have to wear the sling now, keyhole surgery is truly amazing, hardly a scar and a lot less healing to do.
    Heís getting a bit fed up but with it getting warmer he can go and potter in his garage a bit.
    Major triumph yesterday when I bought a blouse in one of the younger girls type shops. The dieting is finally paying off. It was still a flowery blouse but it means I can enjoy going in so many more places to shop now and I actually enjoy clothes shopping. Iíd let my weight creep up and it was time to take action. Also my ankles donít creak as much. One of the retirement targets for both me and OH are to keep fit and healthy so that we can enjoy it to the full.
    Itís lovely that we are able to support each other. You guys living in other countries need to keep on top of what you are entitled to after all youíve paid your contributions. The retirement ages are gradually changing so you need to make sure to keep on top of it. Itís hard enough here.
    The uncertainties of Brexit is a bit unsettling at the moment, I wish it was just all over and done with. But never mind, we have lived though all sorts of problems over the years and will cope.
    Anyway enough of my ramblings
    Have a good day guys
    Cuddles
    April NSDs 3/15
    2019 Grocery Spend £480.68/£2000
    April Grocery spend £91.04/£120
    • plumduff55
    • By plumduff55 25th Feb 19, 7:50 AM
    • 589 Posts
    • 5,747 Thanks
    plumduff55
    Good morning everyone,

    It's a beautiful sunny morning here in a lovely village near Reading where I am visiting my eldest son and his girlfriend. They live on the very edge of the village and looking outside I feel as if I'm surrounded by fields. I live in an ex mining village back home but no views like this as I'm surrounded by houses.

    It is now 4 weeks since I sold the car and I have no regrets at all mainly because I disliked driving so much. I have adjusted my life a bit to compensate for not having the car but this causes me no difficulty. Each Tuesday morning I go by bus to one of two nearby towns to stock up on perishables. One town has a large Asda near the bus stop while the other has an Iceland. I very rarely visited these shops before but I am now a convert.

    I did have an awful journey last week when visiting youngest son and his family. This journey takes approximately 2 and a half hours and 3 buses each away. Three of the buses were late and it was a damp, freezing day. My feet felt like ice but totally my fault as I should have been more prepared and worn warmer socks. Lesson learned . I don't drive to this son's so having the car would not have changed the outcome as I would have still gone by bus.

    Re the posts on NI contributions. When I retired in 2015 I was shocked to discover that although paying NI for 42 years I had not paid enough for the full state pension as I had been contracted out when in the NHS pension scheme. I had never heard and did not know anything about being contracted out. In April 2016 I became a self employed sole trader and started a little sewing business. I pay voluntary class 2 NI contributions of £12.35 each month.

    The business is very slow mainly because I am totally NOT a business person. My charges are too low and I don't advertise or push myself enough. But I love sewing and making memory cushions and quilts from baby clothes. I also enjoy the chat and interactions with my customers. My annual takings are always under £1,000. In 2017 HMRC changed the rules to allow income up to £1,000 to be earned without the need to declare it to them. I think it's called the Trading Allowance. Twice I have phoned HMRC to check that it is ok for me to continue as a sole trader when my income is so low and both times they have confirmed that it is ok. I plan to keep my little business going till April 2021 ( unless the rules change) when my voluntary class 2 NI contributions will entitle me to the full state pension.

    I'm having a very lazy time at my son's but doing lots of walking as they have a retired greyhound that can still walk for miles and miles xx
    Debt free - Mortgage free - Work free ( in that order )
    • cuddlymarm
    • By cuddlymarm 4th Mar 19, 7:13 AM
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    cuddlymarm
    Good morning guys
    Iíve not checked in for a while so here I am.
    Weíre just plodding along really so not much to tell.
    I gave up driving years ago Plumduff, I had never enjoyed it but it was a necessary evil when the kids were younger. OH on the other hand loves driving so we will be keeping a car until heís no longer safe to drive.
    I had last week off work because I had days I had to use or lose so we just pottered and researched the improvements we plan to do on the flat. We have a builder coming to give us a quote this evening so we shall see if we can afford it or whether we will need to rethink it a bit.
    I hope everyone is ok after storm Freya. It was blowing an absolute gale here yesterday. Mother Nature is mean, lulling us into a false sense of security with a lovely week then springing that on us.
    Anyway better go
    Speak again soon
    Cuddles
    April NSDs 3/15
    2019 Grocery Spend £480.68/£2000
    April Grocery spend £91.04/£120
    • cuddlymarm
    • By cuddlymarm 17th Mar 19, 8:01 AM
    • 1,284 Posts
    • 7,445 Thanks
    cuddlymarm
    Hi guys
    I hope everyone is keeping warm and well.
    Itís been blowing a gale, raining and horrible all week but today Iíve woken up to sunshine. Itís still chilly but I can live with that.
    Weíve got the family staying nearby who are going on the New Zealand adventure in 2021 so we are starting to plan a bit while they are here. Itís all part of the fun.
    Iím only in work today and tomorrow and then Iím off the rest if the week. Our head office is so sluggish about sorting these things out and announced that I still had days to use. I only work 4 days a week which means 2 half weeks to do before the end of the month. On the up side the weather is supposed to be ok this week.
    My cupboards are nicely fill to cover any problems with the dreaded B, or to help with any monetary blips. If necessary we can manage with just milk and fresh stuff for a few weeks so I can relocate my wages.
    OH is happy because he is now allowed to ride his motorcycle again. His shoulder is mending nicely which is a relief, you donít heal as well as we did when we were younger.
    I solooking forward to spring now. I like the snuggling up in the warm but the novelty wears off after a while.
    Anyway better go
    Cuddles
    April NSDs 3/15
    2019 Grocery Spend £480.68/£2000
    April Grocery spend £91.04/£120
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