Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 2,782Posts
    • 13,939Thanks
    shangaijimmy
    New Diarist - Attacking the Banks!
    • #1
    • 13th Mar 15, 12:18 PM
    New Diarist - Attacking the Banks! 13th Mar 15 at 12:18 PM
    Hi all,
    Thanks for popping and helping me to stay motivated. This would be the 3rd version of the opening post, but is reflective of where we are currently at. Lots has changed over the last 3 yrs, not least adding a 3rd child to our household!

    This post details my current goals, and as it seems a shame to ignore previous achievements I've summarised them below. This is a 120 payment challenge which would knock 11yrs off our initial draw down of 30yrs. I'm hoping for 100 payments so we'll see how we progress!

    Achievements - 41 payments
    • Balance - £91,863.15
    • Diary Reduction Total - £44,136.86
    • Cumulative Overpayments - £24,381.01
    • Monthly Average Overpayments - £594.66
    • Monthly Average Net Reduction - £1,075.61

    Long Term Targets
    • 5yr/60th payment - £70,000
    • 7yr/84th payment - £38,000
    • 9yr/108th payment - £7,000

    Targets for 2018
    • Jan 2019 - £98,200 - Actual £98,173.08 (£26.92 ahead)
    • Feb 2018 - £97,000 (End of Yr 3 Balance £39k diary reduction) - Actual £97,132.75 (£132.75 behind target)
    • Mar 2018 - £95,900 - Actual £96,102.38 (£202.38 behind target)
    • Apr 2018 - £94,800 - Actual £95,015.63 (£215.63 behind target)
    • May 2018 - £93,700 - Actual £93,938.84 (£238.84 behind target)
    • June 2018 - £92,600 - Actual £92,897.77 (£297.77 behind target)
    • July 2018 - £91,500 - Actual £91,863.15 (£363.15 behind target)
    • Aug 2018 - £90,400
    • Sept 2018 - £89,300
    • Oct 2018 - £88,200
    • Nov 2018 - £87,100
    • Dec 2018 - £86,000
    Last edited by shangaijimmy; 31-07-2018 at 9:08 AM. Reason: Updated Goals
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
Page 136
    • try harder
    • By try harder 4th May 18, 8:45 AM
    • 793 Posts
    • 3,105 Thanks
    try harder
    Well done on the food budget long may it continue
    • shangaijimmy
    • By shangaijimmy 4th May 18, 5:46 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    Well week 3 was £5 over budget so £75 saving instead of £80. We're now looking at reducing to every other week and trying to cut from £320 to £200-£220. Early days and time will tell.

    Nothing major to report other than a determination to list 15 new items on the bay-of-e!
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • shangaijimmy
    • By shangaijimmy 4th May 18, 10:06 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    I managed to get 17 items listed and the pile of stuff still to lost that is sprouting out of the bag in the corner doesn't even look like its been dented!
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • greent
    • By greent 5th May 18, 9:31 AM
    • 7,525 Posts
    • 76,437 Thanks
    greent
    It *does* slow down! - I listed one thing yesterday (have 4(?) others already on there)n - I have 3 more to list in my to do pile, and that's it for the moment. Maybe the proposed garage sort out this weekend will release something - otherwise I'm done for the mo. (mind you, we have had massive decluttering going on over the last 2-3 years here - and have some items boxed for a NNS - not worth flebaying for one reason ir another)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £7127.06/£7500
    Net sales 2018 £721.53/£1000 PAYDOX18 (#15) Done £18918.90
    • Suffolk lass
    • By Suffolk lass 5th May 18, 12:03 PM
    • 2,163 Posts
    • 22,510 Thanks
    Suffolk lass
    SJ and others who showed interest in learning about investments; today's The Times has a Money section article that explains what investment trusts are, how they are different from unit trusts and how they perform relative to other things (computerised trackers, FTSE) and the risks. A good article to read if you want to improve your investment education. It is followed by a case study looking at the fund manager of one of the better performing investment trusts.
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 83.33% £9,999.70/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £1,696.43/£3,000 including stores 67.14% of my annual budget at the end of Oct.
    My DFD is here
    • try harder
    • By try harder 5th May 18, 12:09 PM
    • 793 Posts
    • 3,105 Thanks
    try harder
    That would be a great result SJ if you can keep that up you will make some great savings .I have lowered my food budget back to £50 a week from £100 just until my savings are back to normal then i may change back depending on how things go
    • shangaijimmy
    • By shangaijimmy 5th May 18, 12:38 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    Thank you Suffolk, though I'm out for the afternoon so may have to track it down online in the week (tomorrow will be a right off, I'm sure of it)!

    Greent - i always think we're near the ebay pile end and then those pesky kids go and out grow yet more clothes!! We have 10 items with bids so that helps for motivation, and i've already spent it on 20litres of white vinegar!!

    Try - I've always thought we could save with food budget and now Mrs SJ is determined, so i am very optimistic.

    I've counted up the small change jar and found that i had £10.04 in it, so i'll change it for £10 in work in the week and in readiness for that I've OP'd £10 this morning. That means that May is up and running with the OP's
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • shangaijimmy
    • By shangaijimmy 6th May 18, 12:52 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    Not much to report on. Am recovering from too much beer yesterday, so everything seems slow and incredibly noisy! Only 9 hrs till bedtime!

    TT £1 this morning then OP'd the weekly pot of £3.34. We have bids on 9 items that end tonight, so well worth the effort last weekend.
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • shangaijimmy
    • By shangaijimmy 7th May 18, 9:00 AM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    £1 TT this morning. But more importantly i will be starting the fence painting this morning! Determined to half way through it by close of play today!
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • Karmacat
    • By Karmacat 7th May 18, 9:51 AM
    • 30,051 Posts
    • 174,273 Thanks
    Karmacat
    Can't you pretend its a bad day for fence painting because the sun will dry it too quickly?
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • shangaijimmy
    • By shangaijimmy 7th May 18, 3:13 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    If only id thought of that....!

    Ive made massive progress actuallt. 2/3 done. But ive also done an hour's worth of gardening, 4 piles of washing and all but 1 line dried. Put our clothes mountain away and fixed the downstairs toilet (had a flushing issue for a few weeks). Now enjoying a cold beer in the sun waiting for said sun to move round and then painting will resume. I reckon 90mins to 2hrs will finish it.

    9 items sold last night by the way! Got 15 new items lined up for listing tonight.
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • shangaijimmy
    • By shangaijimmy 7th May 18, 8:28 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    Well the fence is completed...and the greeny-red is now back to red cedar! Just got the gate left.

    Not managed any ebay though. I opted for a dog walk instead. Back to work tomorrow...!
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • Karmacat
    • By Karmacat 7th May 18, 9:30 PM
    • 30,051 Posts
    • 174,273 Thanks
    Karmacat
    Good grief, SJ! Well done you Dog walk sounds a much better end to the day than more ebaying.
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • shangaijimmy
    • By shangaijimmy 8th May 18, 7:14 AM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    Manual labour, all day in the sun. Now im definitely not used to it, and boy can i feel it this morning! Very jaded indeed!

    Thankfully our current account was looking in good condition when i TT'd 73p this morning!
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • themadvix
    • By themadvix 8th May 18, 12:49 PM
    • 1,991 Posts
    • 11,480 Thanks
    themadvix
    Sounds like you worked *very* hard yesterday Jimmy, so I'd let yourself off about Ebay!
    OPs 2018 = £2090
    Moving savings = £3085
    OPs 2017 = £3103
    Starting balance 2012: £132000; balance Jul 2018: £91,552
    MFW2018 no. 38
    • CathT
    • By CathT 8th May 18, 7:20 PM
    • 5,784 Posts
    • 40,524 Thanks
    CathT
    Gardens are such hard work but so rewarding when you can see your efforts and enjoy them. Fingers crossed we get another sunny bank holiday to match this one.
    Nov 2018 -
    part 1 - £74,947
    part 2 - £44,678
    Total - £119,625
    • shangaijimmy
    • By shangaijimmy 8th May 18, 8:07 PM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    In theory the start of this working week should have been welcomed given its a short one but... Firstly i was jaded from a weekend of various excesses. Secondly Mondays work needs to be split into the 4 other days as it doesn't just go away. Thirdly...well i haven't got one yet, but there must be one...

    Anyway today was tough and i'm ready for bed myself never mind for getting the kids in bed. I did manage to get to the post office (short walk at lunch which is nice) to dispatch the ebay sales. Typically the minute i walk back in the office the one late payer decides to pay! At least i get to nip out again tomorrow i suppose.

    NSD for me (Mrs SJ bought a bike pump out of here weekly spends so we can let her off for that one), and all in all May is shaping up to be a pretty good financial month. And i get the rarity of colouring in 2 bricks. The balance from April end was £95,015.63, and i'm expecting a net reduction of £1,050 (ish). So double joy at the end of this month!!
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • turtlemoose
    • By turtlemoose 8th May 18, 10:03 PM
    • 1,527 Posts
    • 4,446 Thanks
    turtlemoose
    great progress!

    I feel your pain on the garden work. I juggled a 5yo and 18m old (not literally, ha) all weekend, while trying to sort out my awful garden. I filled 2 wheelie bins full of garden waste (mine and a friendly neighbour's) and yet I look at the garden and think ARGH barely made a dent in it! I also occupied, played with, fed, watered and otherwise entertained the sproglets while I was doing all this, I was glad to go back to work today for a rest!
    • CathT
    • By CathT 9th May 18, 6:39 AM
    • 5,784 Posts
    • 40,524 Thanks
    CathT
    Into the 93s then? You will soon me in the eighties!
    Nov 2018 -
    part 1 - £74,947
    part 2 - £44,678
    Total - £119,625
    • shangaijimmy
    • By shangaijimmy 9th May 18, 7:27 AM
    • 2,782 Posts
    • 13,939 Thanks
    shangaijimmy
    Turtle - i think that gardening is a very tame adjective. Really its labouring, but the fluffy adjective lulls us into a false stupor!

    Cath - Isn't it bizarre that as soon as we get to the mid point of a 10k bracket, then all we do is start to see the next bracket down. Mrs SJ always says that i'm never satisfied enough to enjoy our progress. I wonder if i will be able to celebrate when its gone, of if i will staright away switch to savings targets?? Not that i'm counting but by the time the kids restart school in September we'll be in those 80's!

    TT time this morning and i was slightly gutted to see the balance ended in 1p, so did the honourable MFW thing and TT'd £1.01 instead.
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

153Posts Today

1,453Users online

Martin's Twitter