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  • FIRST POST
    • Needhelpsaving
    • By Needhelpsaving 14th Nov 16, 5:58 PM
    • 768Posts
    • 3,192Thanks
    Needhelpsaving
    Getting back on the MFW Wagon
    • #1
    • 14th Nov 16, 5:58 PM
    Getting back on the MFW Wagon 14th Nov 16 at 5:58 PM
    Hi

    I have attempted this MFW wannabe journey before, with little success and after reading so many threads on the forum, would like to try again.

    Looking back, trying to start a MFW challenge with a newborn was possibly not the best time for me as I had made grand plans, just when our income was decreasing.

    A little bit about us, I am 29, have an OH 34 and a LO aged 3. We bought our home 8 years ago and have a mortgage of £80,000, a family loan of £7,000 and £0 in savings

    Our first goal is to save a £1500 Emergency Fund by the end of February, whilst staying on track to pay off family loan (on target to pay off in June 2017).

    I have finished all my Christmas shopping, except 1 gift, so should be on track to save a decent chunk of my salary next month (I work part-time).

    I need to stay accountable in this journey and what better way than to publish it on the internet?!
Page 17
    • Needhelpsaving
    • By Needhelpsaving 23rd Sep 18, 9:04 AM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    It's payday tomorrow! I know I have been too frivolous with last months pay, as i've been on countdown to the next payday

    I will be withdrawing the cash for the first weeks spends tomorrow and have made the grocery list and meal plan for the week ahead (this includes the demands for money from the school - harvest festival goods, school fund contributions etc).

    I must admit, I did have to laugh when they sent a letter home saying they wanted to celebrate the harvest festival and the hard work of the farming community, but wanted only tinned goods/pasta/long life goods, no fresh foods such as fruit/veg/eggs etc ... anyone know a baked bean farmer?

    Jobs for the week ahead;
    Grocery shop
    Get a refund on an unused item
    Continue with free activities to entertain DD's.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • earthgirl
    • By earthgirl 23rd Sep 18, 11:04 AM
    • 2,255 Posts
    • 24,628 Thanks
    earthgirl
    That is so funny! I always used to get sent to school with a massive marrow. Every year and it was the two mile walk to school with it that was the killer!
    15/5/12 Paid off Mortgage 1 (£220k) Bought Dream House Dec 13 - Mortage 2 -£116,508. 15/7/18 Mortgage Free Again
    Kids savings 13,578/36k
    2k Monthly buffer 2k/2k Travel savings £18,168
    • Needhelpsaving
    • By Needhelpsaving 23rd Sep 18, 1:07 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    That is so funny! I always used to get sent to school with a massive marrow. Every year and it was the two mile walk to school with it that was the killer!
    Originally posted by earthgirl
    That's really tickled me!

    I have settled on a bag of porridge oats, as at least I can explain to my five year old where they have come from and that they were actually grown by a Scottish Farmer.

    I have fond memories of primary school, but the world has changed completely - for example next terms topic is 'Superheroes'??? I'm just going to lump that under the heading of 'mythical creatures (but dressed in lycra and other highly flammable materials)'
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 26th Sep 18, 8:07 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Pay day shuffles are all done - £200 OP, £100 to wedding fund and replacement tyres for OH car.

    October and November are the months of MOTs, so OP's are a little more restrained around these times.

    Meal plan and food shop done, just need 1 bottle of milk which I will buy tomorrow.

    House repairs/maintenance fund will be dipped into this week as window handle has broken - the handle moves, but the mechanism doesn't, glazer called and will be over sometime this week, workload permitting.

    All ticking along here, money wise.

    Hope everyone is well.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 28th Sep 18, 1:16 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Happy Friday!!!

    Things have been moving along slowly but surely here ... mount washmore is still being scaled, but i'm almost there and i'm still on track to stay within the budget for this week. I have £1.82 left which will cover the loaf I need to pick up tomorrow.

    The window handle has been fixed and the front door job sorted by glazer - £30 from house repair fund. I withdrew £100, so clearly over estimated this!

    I have done the meal plan for next week and have done a click and collect order for the non-perishable bits I need (to be collected Monday), the other items will come from the local farm.

    The item return has been moved to Monday next week, as if i'm honest, i'm worried that if I go to the local shopping centre, my willpower will crumble and "i'll just pick up this or that while i'm here"

    I have found some more stuff to sell, so will list that over the weekend - however, i'm struggling with people trying to take the mick - I was selling one thing for £10 collection only, a lady offered me £7 including P&P costs!!!??? Do people actually READ these days?

    Hope everyone has a great weekend x
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 2nd Oct 18, 7:38 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Weekly shop has been done, within budget and I even have £8 change left to pay the window cleaner without going back to the bank

    I have also been gifted a shed load of unused body butters/scrubs from my mum who doesn't really use these bits of her bath sets. I insisted she kept a few expensive bits, but have totted up the rrp and transferred that from my personal savings to my wedding savings - as I see it as a saving (might be weird logic to some, but it keeps me motivated ).
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 8th Oct 18, 10:06 AM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Good Morning.

    It's beginning to feel rather autumnal - I had the heating on over the weekend (only on manual) as the weather forecast is saying it's likely to get warmer again.

    Weekly shop will be done today in line with the meal plan. The meal plans are working well at the moment, I just need to be mindful that I will need some variety to keep OH on board.

    Spends over the weekend were a chinese takeaway (a very nice treat for us) and two new school cardigans for DD1 (that is a whole other story ).

    We watched 'Drowing in Plastic' on catch up yesterday evening with DD1 - blimey that gave us food for thought and was particularly sad to hear a five year old's take on it ... i'm not getting all political ... but it's certainly worth a watch and has prompted us to think about our home

    £10 cash in my purse for the week.

    Car in for service and MOT on Wednesday (Fingers Crossed )
    Last edited by Needhelpsaving; 08-10-2018 at 10:12 AM.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 10th Oct 18, 11:36 AM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Good Morning!

    Yesterday was an NSD

    Today will be spent at home getting bits and bobs done. Car has been dropped off for MOT, one tyre needs to be replaced and has been factored into the budget.

    A couple more things have been found to list for sale. I have a few watchers on items, but no bids as yet - it'll all come good in the end
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 13th Oct 18, 1:06 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Hi!!!

    Busy morning of balancing the books/accounts, meal planning and ordering groceries for next week.

    We are at the end of the grocery budget, with payday w/c 22/10 we are doing ok.

    Car service and MOT done, needed a new tyre and bulb. The cost was covered by my personal savings account. Although we did have over £1000 worth of 'ambers' listed on the service sheet, so this is something for us to be working on just in case.

    The plan is to run this car into the ground before replacing, but likewise we don't want to be throwing good money after bad, so will need to keep an eye on how things progress.

    A few bits on ebay have watchers, only 1 has bids, but i'm hoping that will change overnight before the items end

    Right off to do the ironing. Have a great weekend.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 13th Oct 18, 4:58 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Soooo ... the ironing has been postponed as I fell asleep and have woken up to OH cooking us all a curry

    I did list a few more bits and pieces on ebay this afternoon and will add some more to ebay/shpock tomorrow to keep the momentum going.

    £5 cashed out on RecieptHog earlier in the week, which has now landed in my paypal account and I am about 100 points off a £5 paypal from SB. All of these bits and pieces will be sent towards the wedding fund.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 15th Oct 18, 2:35 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Hi.

    Sunday went well, a quiet day at home, so it was an NSD (as was Saturday).

    Three bits sold on ebay yesterday- one is still awaiting payment and I will chase this evening if still outstanding. The other two were posted this morning and I underestimated the postage costs on one item, so that has eaten into the profit. Not ideal, but I know for next time.

    The grocery shop for this week has been done and other than ebay postage, I am not anticipating any other spends.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • Needhelpsaving
    • By Needhelpsaving 23rd Oct 18, 10:30 AM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Good Morning.

    I haven't posted for a little while, as to be honest, there wasn't much to report.

    As we head towards payday, I have checked all of the accounts and made sure they're all where they should be in terms of funds.

    I have done the grocery shop for the week, which has come in at £5.35 under the budget (however I did forget cereal and squash, so this should cover these items that I can't stretch out until next week's shop).

    I have received payment for the item that was sold on Ebay last week and that, along with a second item sold over the weekend were posted yesterday

    I have cashed out £5 on SB, just waiting for it to hit my PP account and i've done two small typing jobs this morning to keep me moving forward. I sometimes struggle to do these with the LO's needing my attention, but I think it just takes time to get into a routine of sorts? I will persevere.

    Today's jobs
    1. Clean kitchen (mop floors, wipe down cupboards, check what items may be needed this month in terms of cleaning products etc).
    2. Take back library books.
    3. Pop to aldi for cereal and squash. £3.61 spent.
    4. Ironing to be done and put away.
    Last edited by Needhelpsaving; 23-10-2018 at 11:47 AM.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • earthgirl
    • By earthgirl 25th Oct 18, 7:38 AM
    • 2,255 Posts
    • 24,628 Thanks
    earthgirl
    I'm the same with little money making jobs. Need to make time fvor it but how?? Well done with all your budgeting.
    15/5/12 Paid off Mortgage 1 (£220k) Bought Dream House Dec 13 - Mortage 2 -£116,508. 15/7/18 Mortgage Free Again
    Kids savings 13,578/36k
    2k Monthly buffer 2k/2k Travel savings £18,168
    • Needhelpsaving
    • By Needhelpsaving 26th Oct 18, 10:39 AM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Morning!

    Thanks for dropping by EG, it's always lovely to hear from other MSE'ers.

    This week has been pretty good so far, the only real spend aside from the grocery shop was £3.95 ebay postage, it was a higher value item, so I paid the extra £1 for recorded delivery.

    Payday was yesterday and all money shuffles done. Nothing will be being sent to either the mortgage or wedding savings from the main income as we have a deluge of birthdays in the run up to xmas (mostly big family birthdays, so extra meals out etc) and getting work done on cars etc before my maternity pay ends in a couple of months.

    In other news, i've been planning activities for next week with DD1 half term that keep us within budget, we've agreed;

    - pumpkin carving
    - library trip
    - swimming
    - a trip to the park
    - baking a cake
    - family film night at home complete with popcorn
    - and a nan has even volunteered a sleepover (but we're keeping this as a surprise).


    All cheap/free activities, but DD1 is very happy with them

    I have persevered with the additional work and managed to fit in some stuff yesterday evening, it will take some trial and error to find something that works in terms of schedules/meeting LO's needs too in the long run, but I must keep going

    Have a great day!
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • greent
    • By greent 26th Oct 18, 12:08 PM
    • 7,600 Posts
    • 77,438 Thanks
    greent
    Maybe check out parcel2go for couriers for flebay - I tend to use Herme5 through them - can drop off ant virtually any time (our local drop off is a petrol station/ small shop) and I find them cheaper than RM and tracking is free - although signed costs extra xx
    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • earthgirl
    • By earthgirl 26th Oct 18, 3:15 PM
    • 2,255 Posts
    • 24,628 Thanks
    earthgirl
    I've just started with the direction you pointed me in, scheduling it in the morning so it's more likely to get done.

    How are your other side hustles going?
    15/5/12 Paid off Mortgage 1 (£220k) Bought Dream House Dec 13 - Mortage 2 -£116,508. 15/7/18 Mortgage Free Again
    Kids savings 13,578/36k
    2k Monthly buffer 2k/2k Travel savings £18,168
    • Needhelpsaving
    • By Needhelpsaving 26th Oct 18, 8:18 PM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    I've just started with the direction you pointed me in, scheduling it in the morning so it's more likely to get done.

    How are your other side hustles going?
    Originally posted by earthgirl
    Nice one

    I don't know about you, but there seems to be peaks and troughs, but I seem to be averaging maybe £120-180 p/m from all side hustles the last couple of months, but it has been generated by late nights and early starts. I was working on something until 00.30am last night.

    The one thing I do need to look into is the tax side of things, I have been putting some money aside, but I need to work out whether selling stuff on ebay/shpock is taxable - if it's private sales (i.e. my own stuff), as technically I've already paid VAT when they were first bought.
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • greent
    • By greent 26th Oct 18, 9:25 PM
    • 7,600 Posts
    • 77,438 Thanks
    greent
    HMRC don't tend to count selling your own stuff as trading - they are concerned, however, if you make/ repair stuff to sell or buy stuff to sell. A quick phone call to them should set your mind at rest - they are usually pretty helpful about queries like this - it's better to enquire and be told it's ok than to ignore the issue and find out later it wasn't.... x
    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • Needhelpsaving
    • By Needhelpsaving 27th Oct 18, 9:43 AM
    • 768 Posts
    • 3,192 Thanks
    Needhelpsaving
    Thanks greent!

    I've got to say, tax is a bit of a minefield, so I appreciate the pointers. I'll give them a call next week and check this and the typing work (which I suspect is taxable and have been putting some of this aside in a separate account).
    Target 1b (revised) - Emergency Fund Currently £10,000/£10,000

    Target 2b (revised) - Pay Mortgage Down to £55,000 by 31/12/18 Was £71,006.49 (01/01/18) Now £58,667.91 (06/10)
    • greent
    • By greent 27th Oct 18, 11:02 PM
    • 7,600 Posts
    • 77,438 Thanks
    greent
    Yes - payment for services (typing) is a taxable activity, I'm pretty sure
    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
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