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    • Seasidegal58
    • By Seasidegal58 18th Sep 16, 1:27 PM
    • 2,122Posts
    • 13,160Thanks
    Seasidegal58
    Paid off the 31,000! BUT - still scrimping!
    • #1
    • 18th Sep 16, 1:27 PM
    Paid off the 31,000! BUT - still scrimping! 18th Sep 16 at 1:27 PM
    Heres to my new shiny diary now that I am debt free!

    I have finished my previous diary which detailed my debt free journey. This went well for some months I then failed dismally, managed to pull myself together to pay off half then had a lucky windfall which cleared the rest. If you want to have a look its called Scrimping Behind the Scenes with Debt of 31,000! (sorry, I cant manage to get the link to work!).

    In the diary I detailed how I was trying to pay off the debt without alerting the fact to family and friends as I was too embarrassed to let anyone know the extent of my folly!

    I have however decided to carry on scrimping as I have a few retirement issues coming up. One of the things that will make scrimping easier is that I dont have to do this in secret anymore! My reasons for cutting back financially will be out there for friends and family to see which will let some of the pressure off!

    I am now in my early sixties but my State pension will not kick in for another four and a half years. I will not be getting the full whack as I have had contracted out of the second State pension because I was a member of a previous employers final salary scheme. Luckily this pension will take a little of the headache away and I have a couple of small DCB schemes from other employment over the years though these will not amount to much. I am in my current employers company scheme and both they and I pay into this though again its not going to be life changing!

    I calculate that I when I retire my income will be slashed by well over half so to carry scrimping would be a good run up to retirement test for me.

    A big worry is that the firm I work for was recently bought out. I have been through this sort of thing with previous employers. What tends to happen is this:

    1. Big lovey-dovey honeymoon period between new owners and old owners (who have been paid out, but stay on for goodwill).

    2. New owners and old owners start to fall out over the management of the company. The new owners want to run the company their way and old owners think they know better.

    3. Bad feeling hits all round and new owners start to have a people clear out.

    Im rather apprehensive about the possibility of a people clear out because of my age. I think I will be ok as long as my boss is there but unfortunately he is older than me!

    Accordingly, my next scrimpy goal is to fully fund my Emergency Fund. It currently stands at 3,000- but I would like to see it at 10,000 to feel safe. If I can fund it with 1,000 per month (like I did with my debt), I will have 10,000 by end April next year.

    So today is going to be a NSD. I have 26.90 left spending money and 18.33 in the grocery budget till I get paid next Friday.

    So here we go again interesting times!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
Page 40
    • Seasidegal58
    • By Seasidegal58 7th Apr 18, 8:59 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    I've just updated my Ad Hoc Retirement fund signature amount by another 29.72. This comprises of this month's Santander 123 interest and Cashback plus a rounding down of my bank balance to an amount of 12.67 as part of my new "Tilly Tidies" regime as invented by Tilly - and what a good idea it is!

    Today I took my friend out for her birthday lunch which we both enjoyed and had a lovely catch-up as I hadn't seen her since before Christmas. Luckily I had my Santander Zero MasterCard which I keep in a drawer ready for any overseas trips! Only downside was I needed some cash for Pilates tomorrow so had to draw it out on the CC so will incur a charge. Annoying!

    After the meal I went home began to read and fell asleep! And I only had one Japanese Mohito and a glass of red!. Roll on the new meds!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • Cumbria lass
    • By Cumbria lass 7th Apr 18, 9:04 PM
    • 2,180 Posts
    • 13,291 Thanks
    Cumbria lass
    I'm with you on lulu not a fan either . We haven't seen Wicked before so will be nice to go.

    Glad you had a nice catch up with friend.
    CC1 221 /3718
    • in need of direction
    • By in need of direction 7th Apr 18, 9:31 PM
    • 5,258 Posts
    • 30,883 Thanks
    in need of direction
    based on advice I got here years ago, i keep approx 200 in cash at home. i am a control freak though who worries about atms going down etc. might be an idea for you.
    Mortgage at 01.01.14 119,481.83 today 74,121.52, target 65,000 by 31/12/18 Offset fund today 307.27 target 5,500 by 31/12/18
    Emergency fund 860/5.5k & 200/200 cash.
    Weight 8 July 14st 4lb
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • Seasidegal58
    • By Seasidegal58 7th Apr 18, 9:39 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    Good idea inod - that's an excellent idea - I do keep an emergency 20 note hidden away in my purse but unfortunately I needed a little more cash this weekend as only had 4.04 in the actual spend side of the purse!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • Seasidegal58
    • By Seasidegal58 7th Apr 18, 9:43 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    I'm with you on lulu not a fan either . We haven't seen Wicked before so will be nice to go.

    Glad you had a nice catch up with friend.
    Originally posted by Cumbria lass
    42nd Street has had excellent reviews (I love the old black and white film too!) so hopefully the rest of the cast will make up for my Lulu aversion!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • redofromstart
    • By redofromstart 8th Apr 18, 8:22 AM
    • 1,937 Posts
    • 11,898 Thanks
    redofromstart
    Right thing in cancelling the cards. I keep a credit card hidden at home, and an emergency 20 in the car. I think if you need to then go into the bank with your account number and photographic ID then they will let you draw cash over the counter anyway, or a cheque to 'cash' over the counter.
    • Seasidegal58
    • By Seasidegal58 8th Apr 18, 11:32 AM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    Thanks for letting me know redo - how annoying - I could have popped into my bank yesterday instead of drawing out the cash from the CC!!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • Seasidegal58
    • By Seasidegal58 8th Apr 18, 8:36 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    So quiet day today - had my Pilates session at lunchtime then ironing and been reading.

    Had prawn stir fry with noodles for dinner and looking forward to 'Homeland' later on.

    Today I've had some really great advice from posters over on the pensions board. I've been mulling over my retirement fund and the best 'wrapper' to hold it. Either the usual savings/ cash ISA route or start putting it into my works pension in order to take advantage of the tax breaks. It seems that going down the salary sacrifice into the pension route at work is the way forward here so I will be seeing HR tomorrow at work to sort it out.

    And after the FIRE blog discussion on brizzle's thread I've become quite intrigued here and I've found a blog called "cracking retirement" which is actually truly cracking!. Lots of food for thought for someone like me who is close to retirement!

    Have a good evening all.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • redofromstart
    • By redofromstart 8th Apr 18, 8:52 PM
    • 1,937 Posts
    • 11,898 Thanks
    redofromstart
    We have starting putting our extra into OHs current employer pension pot as he is now over the magic 55. Worst case is we have another famine and we have to take it out again. The government contribution significantly outweighs any regular saver interest rate doesn't it?

    The cash over the counter with ID thing used to be right, who knows in these modern times?
    • Sun Addict
    • By Sun Addict 8th Apr 18, 9:00 PM
    • 6,113 Posts
    • 41,266 Thanks
    Sun Addict
    What's a Japanese Mojito? The only cocktail I like is a Mojito but the usual rum/soda/mint malarkey.

    I think I need to visit that pensions board for ideas - have 9 years to go.
    Virtual Sealed Pot 2018 404.08
    Debt 2180
    Weight loss 0/6LBS
    Emergency Fund 4000/10,000
    • Cumbria lass
    • By Cumbria lass 8th Apr 18, 9:01 PM
    • 2,180 Posts
    • 13,291 Thanks
    Cumbria lass
    Ooh SG I will be cracking on over to the blog as well . May as well start reading now in readiness for the big 60 !

    Thanks for finding these interesting bits of information.

    Enjoy Homeland.
    CC1 221 /3718
    • Seasidegal58
    • By Seasidegal58 8th Apr 18, 9:06 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    Yes you're so right redo. Unless interest rates rise very, very significantly (and I mean very, very) the pension tax breaks are definitely the way forward for me.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • Seasidegal58
    • By Seasidegal58 9th Apr 18, 7:58 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    What's a Japanese Mojito? The only cocktail I like is a Mojito but the usual rum/soda/mint malarkey.

    I think I need to visit that pensions board for ideas - have 9 years to go.
    Originally posted by Sun Addict
    The Mojito is my fav cocktail as well SA so I thought I would try it. Basically it uses sake instead of rum - it tasted a lot lighter and not so syrupy. It was nice but I still prefer the original!

    Ooh SG I will be cracking on over to the blog as well . May as well start reading now in readiness for the big 60 !

    Thanks for finding these interesting bits of information.

    Enjoy Homeland.
    Originally posted by Cumbria lass
    Thanks Cumbria! I didn't know there were so many retirement blogs out there until I started looking properly!

    Today was a miserable day weather wise - either raining or trying to rain. Also very misty both at home and in town.

    I picked up my wallet though on my way in. The girls in the shop were lovely - one girl had found it on the floor so I was very lucky. The wallet itself was a gift and I also had my senior rail card, Boots, Nectar and supermarket cards in there as well. I'm going to drop an email to their head office in praise!

    I saw HR today re the salary sacrifice into my pension - apparently it can all be done on our new employee benefits portal. So I went on line and increased it today. It calculated it for me and it certainly makes sense tax wise! It won't take place until the end May pay date but April's pay date is going to be a little confusing tax wise as my bonus and pay rise go in then. May's pay will give me a better idea of how everything will look. I can always increase it then.

    So seeing as the bulk of the savings pot is going into the pension, I thought I would still start a little savings fund - I'll keep the 529.82 already there to start it off and then top it up with my monthly bank interest/Cashback, Tilly tidies and any spare cash I've got left at the end of the month - it'll come in handy for any techie type things I'll need going forward.

    Needed a new pinky lipstick today and saw a nice Max Factor one. It was only 7.99 so not bad.

    Also had my Monday coffee with my friend lunchtime - I paid today so 4.90 - she'll pay on Friday. Pret are now knocking 50p off their coffees if you bring in your own carry mug. I've got one in the back of one of the cupboards in the kitchen so will sort it out.

    Milk and bread from the Co-op tonight and that's the last of the spends today!
    Last edited by Seasidegal58; 10-04-2018 at 7:10 PM.
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Apr 18, 8:24 PM
    • 4,861 Posts
    • 34,315 Thanks
    HairyHandofDartmoor
    That sounds like a good decision re the pension. Coffee with a friend is a good way to make a Monday pleasanter I would think .
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
    • Seasidegal58
    • By Seasidegal58 9th Apr 18, 8:27 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    Thanks Hairy - only thing is with the coffee, we have to sit outside Pret as my friend smokes. Which is fine when the weather's good, but today we were huddling under the awning!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 9th Apr 18, 8:30 PM
    • 4,861 Posts
    • 34,315 Thanks
    HairyHandofDartmoor
    I can see that would be a disadvantage on a day like this .
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
    • Seasidegal58
    • By Seasidegal58 10th Apr 18, 7:25 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    What a contrast in the weather! This morning was still raining, chilly and misty - tonight I came home to a lovely sunny, mild spring evening! To make the most of it I took the longer walk home so I could look across the estuary.

    Nearly a NSD day but I put 1 in the meningitis charity box at the station.

    Quite busy in work - getting some jobs done before boss returns from holiday next week.

    Other pension provider wants sight of my birth certificate now! I haven't sent it to the third provider yet as I thought I would wait till they come out of their "blackout" period. It's neverending!

    New Amex card was waiting for me when I got home so that was nice and quick. One card down and two to go!

    Still reading the Frugalwoods book and enjoying it.

    Have a good evening everyone!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • Seasidegal58
    • By Seasidegal58 11th Apr 18, 7:54 PM
    • 2,122 Posts
    • 13,160 Thanks
    Seasidegal58
    I don't know what happened to that lovely evening yesterday - today woke up again to rain, mist and chilliness- which went on much of the day - I took the shorter, less scenic walk home from the station this evening!

    NSD day today - also bumped up a Tilly Tidy over to the Ad Hoc Fund - PA have stRted sending me surveys again - currently once everything has been approved I will have just over 25 to wing over. Only another 2.75 to go on Optnium for a 25 payout!. I think my 50 YouGov payment will arrive when I'm 85.

    Nothing much to report today - work trudges on - bit of a meh day.

    Anyway hope everyone has a good evening!
    Finally Debt Free! - July 2016
    Finished Emergency Fund- 10,000 April 2017

    Next Scrimpy Goal - Ad Hoc Savings - 19/09/2018: 1168.59
    MONTHS TO RETIREMENT: 32!
    My diary: Paid off the 31,0000! BUT- still scrimping!
    • Cumbria lass
    • By Cumbria lass 11th Apr 18, 8:05 PM
    • 2,180 Posts
    • 13,291 Thanks
    Cumbria lass
    Yes like winter today here as well. The forecast next week is very good though.

    Your payouts are very good especially PA .

    It will soon be weekend .
    CC1 221 /3718
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 11th Apr 18, 8:11 PM
    • 4,861 Posts
    • 34,315 Thanks
    HairyHandofDartmoor
    Warm and sunny all day here .

    You're doing well with PA, they've abandoned me now, I knew my golden streak couldn't last .

    Have a nice evening .
    Finally Debt Free After 34 Years, But Still Need to Live Frugally
    Debt in July 2017 = 58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build Emergency Fund & Loss of Income Fund. Save for house repairs.
    "Tough times never last, but tough people do" - Robert H Schuller
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