It’s the end of the month. We sat down together and we did what we always do. First of all, we took all of the money left in our current accounts and we moved it to our last debt, an interest free loan, into which we transferred the balance of our home loan. For the rest of the day, our current accounts are empty. But guess what? There was plenty of money left in them as we haven’t been any where that’s cost us anything, or spent more than about £20 on personal items in a month. It’s been a squeaky tight August of not spending, but we had money left in our accounts. Well, we did, until we moved it to our last debt.
We’ve then checked the totals of all the direct debits that we will pay tomorrow for all of our bills. We will know exactly what is left to go into the transport account to get me to work for a month and pay for DB’s train pass. We’ll move the exact amount of money we allow ourselves for food for the month into our ‘everyday account’ and the rest………………is going to clear the balance of our loan! It’s taken a few squeaky months but by 6pm tomorrow night, we will be debt free other than our mortgage. It’s amazing what living off £250 a month for almost two years can do to make you steely and determined!
Now, let me tell you what I am going to do with my money! I’m going to save, save, save! Almost all of the funds from my snowballed debt debits will now go into saving funds and mortgage overpayment funds. We’re going to continue feeding and clothing ourselves on £250 a month! Oh yes, in short, nothing is going to change! I’m going to set myself personal targets for paying off mortgage capital, which at the moment is £500 a month, but I’m hoping to add to that every month.
We’ve managed to not go grocery shopping this week as the fridge, freezer and cupboards are well stocked and we’re going to make it to the end of the week without spending our grocery money. I’m doing this so I can get some new work shoes (I’ve hunted high and low in the charity shops and can’t find any) and I’ve ordered some new smart clothes from Matalan with a 20% discount code – style20 – until Sunday 4th! So I can top up my working wardrobe. We’re also managing to save already and add to the fund if we spend it. On the issue of spending savings, you have to set a limit of what you want in a savings account. If you spend any, and from time to time you will have to, make sure that you don’t spend again until you’ve topped up your savings account to the limit you previously set yourself. Now we’ve done some work on the house, we will just add to the savings and not spend anything until we’ve returned to our set target. It means you always have to wait for what you want. You can’t get a new coat just because you ‘need’ one, but you have to make do until you can afford one.
Today, I was reading Angela’s blog ‘Tracing Rainbows” as it’s one of the many blogs I like to read every day. I don’t want to sound like one of the people that Angela described in her remarks about meanness and being miserly, but today I’m feeling wonderfully skint, delightfully penniless, brilliantly brassic! It’s just lovely to have not a penny in my current account! I delight in being a tightwad as I don’t want to be like everyone else. I will continue to celebrate cheap and healthy eating, low cost celebrations, cooking at home, jumble sale and charity shop finds, car boot bargains and where and how to get the best prices.
I will continue to make jam and cakes for presents, I will continue to not flush the loo, to not turn the heating or lights on and by doing so I will continue to live well within my means. I will continue to set a budget and stick to it. I will continue to write menu plans and shopping lists. I will continue reading my utility meters every Saturday morning and I will continue drying my washing outside! I will continue walking and cycling every where to keep fit and keep costs down. I’ll continue wearing these comfy old sandals as there’s nothing wrong with them, I’ll continue moving forward until I achieve my dream of downsizing, whenever that will be.
Now I hope to pay off my mortgage. I daren’t even say how much it is, or how much I hope to pay off a year! But the challenge for that starts as soon as my savings account is topped up again. The frugality, or to use Angela’s far lighter description, the thriftiness continues.
All my love, Froogs xxxxx