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  • FIRST POST
    • Shashwoo
    • By Shashwoo 5th Jan 18, 3:02 PM
    • 204Posts
    • 344Thanks
    Shashwoo
    Trying to save money and save me
    • #1
    • 5th Jan 18, 3:02 PM
    Trying to save money and save me 5th Jan 18 at 3:02 PM
    Hi all,


    A little about me, I'm 38, married and a having a good laugh kinda person. No children of my own however I do have step-children.


    We bought our house with a mortgage in Feb 2010 so coming up to 8 years. We currently have just under 90k on our mortgage.
    We have a loan with the Halifax which has just under a year left, we got this loan out to pay off other debts which worked out very well for us.
    We have our Sofa on credit and took a loan out for my DH a computer and me a laptop.

    I am the kind of person who thinks nothing of spending money, well that was the old me I am trying to make this year a year of change.


    I will use this diary to record what things I have done along the way.


    My aim is to over pay what I can, try to have more NSD and save up to have some sort of a emergency fund, we currently don't have one.


    Thank you if you stop by and all help is accepted gracefully
    **1p Challenge 2017 /667.95** **Virtual Sealed Pot Challenge No# 20 32.49 /250**

    1st June 2012 @ 1pm I married the man of my dreams!!!
Page 1
    • Shashwoo
    • By Shashwoo 5th Jan 18, 3:07 PM
    • 204 Posts
    • 344 Thanks
    Shashwoo
    • #2
    • 5th Jan 18, 3:07 PM
    • #2
    • 5th Jan 18, 3:07 PM
    This year has started off quite well.


    I have taken on the 365 money challenge or whatever it's called, you know on day one you save 1p on day 2 2p and so on and so on.
    I have the sheet printed off and instead of doing it like you should I have chosen to pick an amount based on what change I have so the other day I put in 3.65 to clear off the last day, I am hoping that it will be easier to do this way and gives me a bit of lean to if I have little change on a specific day.


    Today I changed my mortgage deal with Halifax, it took 15 mins on-line and our payments have now reduced by 61.33 per month, this is extra money I would like to put into the emergency savings.


    My husband also reminded me that we get our "free months" with the council tax Feb & March so that's almost 150 to save and we get free months with the Water rates too so that is another 2 x 40 saving.


    I am feeling so positive.
    **1p Challenge 2017 /667.95** **Virtual Sealed Pot Challenge No# 20 32.49 /250**

    1st June 2012 @ 1pm I married the man of my dreams!!!
    • enjoyyourshoes
    • By enjoyyourshoes 5th Jan 18, 3:09 PM
    • 1,061 Posts
    • 1,302 Thanks
    enjoyyourshoes
    • #3
    • 5th Jan 18, 3:09 PM
    • #3
    • 5th Jan 18, 3:09 PM
    A 3.50 saving per day

    (1/2 pack fags, pint half beer, coffee and croissant at Starbucks)

    paid into an UK average sized mortgage at 3% interest will save you

    11,080 in interest charges and you will pay the mortgage off 6 years 7 months earlier.
    Debt is a symptom, solve the problem.
    • Shashwoo
    • By Shashwoo 8th Jan 18, 2:21 PM
    • 204 Posts
    • 344 Thanks
    Shashwoo
    • #4
    • 8th Jan 18, 2:21 PM
    • #4
    • 8th Jan 18, 2:21 PM
    Thanks Enjoy, It's good to know facts and figures like that.


    Today is my husbands pay day so last night we had 30 odd left in our account so I paid it off our Clarity loan with Halifax and it actually took us down by a month, or so the calculator said.


    We have decided to do this at the end of each pay day as long as we have 20 left over we will make an extra payment off something we owe. This is of course after savings and everything else.


    I am feeling quite positive, we didn't use the car at the weekend, we didn't buy any alcohol, we just drank what was already in the house. We did buy a take away but we usually do on a weekend and I have taken this into account.


    I am feeling super positive about this year and the start of getting our finances into shape!
    **1p Challenge 2017 /667.95** **Virtual Sealed Pot Challenge No# 20 32.49 /250**

    1st June 2012 @ 1pm I married the man of my dreams!!!
    • fatrab
    • By fatrab 8th Jan 18, 2:42 PM
    • 852 Posts
    • 2,236 Thanks
    fatrab
    • #5
    • 8th Jan 18, 2:42 PM
    • #5
    • 8th Jan 18, 2:42 PM
    Try to build up an emergency fund first, even just a little. That was probably the single piece of advice I found most helpful when I started posting on here. I no longer think of my credit card as my safety net.


    I was wasting somewhere around 600 per month on frivolous spending. I've had a quiet Xmas and stopped snacking, eating out and drinking as much and I've got an emergency fund of 840 already! In just 2 months!


    Then focus on overpaying whatever debt has the highest rate of interest, that would be my advice.


    Best of luck
    You can have results or excuses, but not both - Wannabe debt free by Dec 2022
    June's targets - Be 15st by end of month, 19/30 AFDs
    39 x 2 coins (#32)
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