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  • FIRST POST
    • EatingTheElephant
    • By EatingTheElephant 26th Jan 16, 7:50 PM
    • 1,300Posts
    • 7,111Thanks
    EatingTheElephant
    Time to get serious
    • #1
    • 26th Jan 16, 7:50 PM
    Time to get serious 26th Jan 16 at 7:50 PM
    Hello Everyone

    I have been reading this forum for quite a while now. There have been many mentions that a diary has helped many of you with your goals, so I'm here to join in and knuckle down.

    My oustanding mortgage is very small, that is not the real challenge!

    This year the mortgage will be gone, however we are really keen to move.

    Getting a mortgage for the type of house we want will be difficult, so the plan is to save as much as possible. It doesn't help that I am very impatient!!

    The initial focus is to clear the current mortgage and reduce the outgoings. On the 1st January it was £9400 and I was hoping to have it paid off by the end of the year. It is currently at £3900

    So far I have claimed credit back from energy suppliers, claimed outstanding expenses from the business and sent off scrap gold. Ate from the mealplan, there was lots of food left over from Christmas and used the nectar points at $ainsburys and T3sco points for food, claimed the cashback sitting in T0pCashback, scoured all the accounts to shuffle bits into the mortgage and bought virtually nothing all month (not sustainable I know!!).

    Off to hunt for the next financial area of focus....
Page 43
    • hiddenshadow
    • By hiddenshadow 13th Jan 18, 7:19 PM
    • 2,482 Posts
    • 11,362 Thanks
    hiddenshadow
    I don't understand why organisation/planning is such a foreign concept to people - I've gotten strange looks when I mention that I have a budget.
    MFW: £197,100 (2013) to £99,838 (June '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 14th Jan 18, 3:28 AM
    • 1,474 Posts
    • 7,053 Thanks
    wishingthemortgaheaway
    I don't get it either. When an acquaintance went back to work following Mat leave, on part time hours, she rand another friend in tears because she didn't have enough in her wages to meet the bills & pay the childcare. She had just assumed it would be ok because 'everyone goes part time after mat leave'
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100 May 20/100 June 21/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 £1600ish/£2,500
    • smallholdingsister
    • By smallholdingsister 14th Jan 18, 7:51 AM
    • 3,591 Posts
    • 30,150 Thanks
    smallholdingsister
    I have no words for that!
    • shangaijimmy
    • By shangaijimmy 14th Jan 18, 8:16 AM
    • 2,736 Posts
    • 13,597 Thanks
    shangaijimmy
    You can underestimate the impact a good budget has on mental health, not to mention household atmosphere. Equally weekly food plan means we eat proper meals instead of making it up!
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • EatingTheElephant
    • By EatingTheElephant 14th Jan 18, 8:36 AM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    I don't get it either. When an acquaintance went back to work following Mat leave, on part time hours, she rand another friend in tears because she didn't have enough in her wages to meet the bills & pay the childcare. She had just assumed it would be ok because 'everyone goes part time after mat leave'
    Originally posted by wishingthemortgaheaway
    Iím amazed by this one!

    I know I plan/organise more than most, but surely you have to know what money you have coming in or what you are eating for the next meal?

    I now realise Iíve done a good job with my daughters, both have a budget to know they can afford the regular bills they have. Sticking to it is another matter, but at least they have the budget!

    Another load of soup made for lunches yesterday, tomato and lentil, and a batch of pork and bean chilli made in the sc to give about 3/4 easy meals over the next few weeks. Iíve also found a recipe for sweet potato fritters Iíd like to try. We will be travelling around quite a bit this year with pupster so easy cheap portable food is a must.

    Apart from that yesterday was spent catching up, ironing, shuffling money to meet account requirements, filing and a couple hours up the stables, where there is mud everywhere!
    • hiddenshadow
    • By hiddenshadow 14th Jan 18, 10:40 AM
    • 2,482 Posts
    • 11,362 Thanks
    hiddenshadow
    Also appalled at the mat/part leave assumption.

    I didn't embrace formal budgeting until a few years ago, but I've always at least followed rough guidelines (pay yourself first, try and keep needs/wants/savings to certain percentages, etc.).

    Also only recently adopted meal planning, for that matter - definitely think we're eating more healthy things and more variety as a result.
    MFW: £197,100 (2013) to £99,838 (June '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • Karmacat
    • By Karmacat 14th Jan 18, 10:56 AM
    • 29,312 Posts
    • 167,869 Thanks
    Karmacat
    Astonishing on other people's lack of budgets! I'm like hiddenshadow, never really budgetted formally, mostly because I was self employed for so long, but making sure I was putting aside a lot of savings was crucial. And now that's a lifesaver for me.
    Retired August 2016
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 14th Jan 18, 7:41 PM
    • 1,474 Posts
    • 7,053 Thanks
    wishingthemortgaheaway
    I know, unbelievable. But it seems us mses are the minority in real life.
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100 May 20/100 June 21/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 £1600ish/£2,500
    • Watty1
    • By Watty1 14th Jan 18, 9:30 PM
    • 2,992 Posts
    • 21,300 Thanks
    Watty1
    We must be!! I've always had a rough plan. I still do have a rough plan and yet when I mentioned to a friend recently that we have "bills account" and put money into it on the 1st of the month to cover all the bills and save a little for the yearly ones I was met with a look of pure astonishment. Almost as if I had lapsed into a foreign language .... which I suppose I must have
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaid next mortgage. £79,491 down to £27152
    Changing focus for now
    • gallygirl
    • By gallygirl 14th Jan 18, 10:09 PM
    • 16,606 Posts
    • 109,664 Thanks
    gallygirl
    We must be!! I've always had a rough plan. I still do have a rough plan and yet when I mentioned to a friend recently that we have "bills account" and put money into it on the 1st of the month to cover all the bills and save a little for the yearly ones I was met with a look of pure astonishment. Almost as if I had lapsed into a foreign language .... which I suppose I must have
    Originally posted by Watty1
    Ah well, he who laughs last laughs longest .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • hiddenshadow
    • By hiddenshadow 15th Jan 18, 2:34 PM
    • 2,482 Posts
    • 11,362 Thanks
    hiddenshadow
    We must be!! I've always had a rough plan. I still do have a rough plan and yet when I mentioned to a friend recently that we have "bills account" and put money into it on the 1st of the month to cover all the bills and save a little for the yearly ones I was met with a look of pure astonishment. Almost as if I had lapsed into a foreign language .... which I suppose I must have
    Originally posted by Watty1
    I think the concept of multiple accounts is foreign to a lot of people. I got some very strange looks when I'd count up my accounts and come up with a double-digit number...sadly, even more strange looks when I'd explain that it was to maximise interest earned on savings.

    I mean...who doesn't want free money? If it were lying on the pavement you'd pick it up, right? This just saves handling cash/coins that have been rained/trodden on.
    MFW: £197,100 (2013) to £99,838 (June '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • EatingTheElephant
    • By EatingTheElephant 15th Jan 18, 6:38 PM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    Thank you everyone, I feel so normal on this board

    I love having a seperate bills account, put the money in there once a month/once a year, then forget about it (I think I!!!8217;m basically lazy).

    The tomato and lentil soup was a good one at lunch today. A new recipe which will be a keeper.
    • EatingTheElephant
    • By EatingTheElephant 20th Jan 18, 8:54 AM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    I had such great plans for this weekend, only to be struck down with a cold. I don!!!8217;t think it!!!8217;s a bad one, but I will need to rest this weekend in order to get through next week.

    Thankfully I have enough batch cooked soup in the freezer to cover next weeks lunches, so one less thing I can get away without doing.

    This is probably old news to a lot of mfws, I realised this week that I pre warm my flask for soup then usually just tip the water out, this water has now been diverted to the jug to use for rinsing recyclables and the waste disposal chomper. Why didn!!!8217;t I think of this before?!

    We!!!8217;ve had a builder round to quote for making the garage usable, so hopefully will know how much that will cost soon. We also need to find people to quote for the groundwork needed up the stables.

    One of our chickens died this week nothing untoward but typically the best layer. I think we might wait to replace her now restrictions are in place.
    • smallholdingsister
    • By smallholdingsister 20th Jan 18, 5:44 PM
    • 3,591 Posts
    • 30,150 Thanks
    smallholdingsister
    Get well soon. X
    • Karmacat
    • By Karmacat 20th Jan 18, 7:29 PM
    • 29,312 Posts
    • 167,869 Thanks
    Karmacat
    Sounds pretty tough for you right now, EE, take care of yourself. Very sorry about the chicken
    Retired August 2016
    • CathT
    • By CathT 20th Jan 18, 7:39 PM
    • 5,590 Posts
    • 39,032 Thanks
    CathT
    Sorry to hear about your chicken. I have so many colleague who complain about having no money leading up to payday but spend around £4+ a day on their lunch.
    June 2018 -
    part 1 - £77,571
    part 2 - £45,272
    Total - £122,843
    • EatingTheElephant
    • By EatingTheElephant 20th Jan 18, 10:20 PM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    Thank you SHS, KarmaCat & CathT.
    I!!!8217;ve not done a lot today so I!!!8217;m hoping my body has been busy fighting germs.

    We did take the dogs out for a wet, windy walk so if the germs haven!!!8217;t given up already hopefully they were blown out!

    The only other things I!!!8217;ve done today is shuffle washing and do the dog!!!8217;s nails. I feel very lazy.

    I am amazed at how many people don!!!8217;t take lunch with them to work, it!!!8217;s such an easy way to save so much money
    and hardly takes any time at all.
    • EatingTheElephant
    • By EatingTheElephant 21st Jan 18, 9:51 AM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    I!!!8217;ve been up for ages, a combination of not doing much yesterday and pupster waking me to go out. I!!!8217;ve not done much apart from catch up on a few diaries and update CP.

    When I went downstairs to make a cup of tea I had a quick look in the freezer and it is jam packed! I should try to work out what is in there and do a rough meal plan.

    So the plan today is to muck out the horses while hubby gets hay, meal plan and do a quick update for a customer that I!!!8217;ve not got around to. I!!!8217;m hoping that will be a quiet enough day to allow any lingering germs to be dispelled.
    • EatingTheElephant
    • By EatingTheElephant 23rd Jan 18, 1:51 PM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    I managed to complete the meal plan on Sunday, along with mucking outvthe horses. Unfortunately customer!!!8217;s job fell by the wayside. I need to complete it soon before they start chasing me.

    Hubby spotted that 2 payments went to our mortgage provider this month and he seemed quite impressed when I said one of them was an OP from our expense receipts. Chipping away at it!
    • EatingTheElephant
    • By EatingTheElephant 27th Jan 18, 7:44 AM
    • 1,300 Posts
    • 7,111 Thanks
    EatingTheElephant
    I!!!8217;ve just received my 2 year badge, such a lot has changed in those two years!

    Yesterday we bought some rubber mats for the stables. We went direct to a local supplier (recommended by the new hairdresser). It was an absolute bargain compared to buying from a store and will help save money on bedding going forward. We are going through loads currently, especially with the yard flooding.

    I don!!!8217;t think we will get time to put them down today as I!!!8217;m out with pupster, unless he doesn!!!8217;t do well and we can go early!! I!!!8217;m also meeting up with a few people there, luckily the event venue has an amazing restaurant that does really good, very reasonable meals so there will be a cheap lunch out today which will save cooking tonight.

    I!!!8217;d like to get some baking done too this weekend, there!!!8217;s quite a lot still in the freezer that needs creative ideas to use it up. Being out 3 nights at training this week we!!!8217;ve really benefitted from using up some homemade ready meals from the freezer. I need to get ahead of myself so next week is easier too.
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