Hello Dear Reader,
My mortgage rate (standard variable) has gone up and when one major banks does it, the rest of them will join in soon. I pay the same amount each month even though I pay down the balance every month. I will have to adjust this figure in few months as the rising costs of living leave us with less and less money to eat with. I keep in regular contact with my building society, getting an accurate balance each month and over paying every month, even if only by a few hundred. Our finances are so finely balanced that an over spend anywhere results in less going into savings and mortgage over payments.
I run my family finances like a business. I try, as accurately as possible, to predict how much I will need over the year. I work out annually: home and contents insurance, car insurance, boiler insurance, car service, dental checks, optician checks, costs of tyres and then work out an annual total and then set aside one twelfth of that amount plus 15%. I buy these annually and shop around judiciously to find the very best deals. I then check whether I can purchase them through quidco after using price comparison sites.
We keep a close eye on our energy and water meters. I check that I am on the lowest tariff and use price comparison sites. I read my own meters and submit my readings on line. I keep a close eye on my water meter as I have no choice but to use the most expensive water provider in the country. I calculate the amount of water I have used and make a monthly payment online where I also pay another 15% to take into account the standing charge. I’m sometimes in credit, but only by a few pounds so I’m usually very accurate.
Costs are rising and every one of us will have to be constantly mindful of not only what we spend but how much we save to cope with rising costs. I need Stoptober more than ever. To make sure I don’t spend a single penny, I’ve purposefully left myself without any and have emptied my account into my mortgage on the 1st of the month and have not waiting until the end to put in what’s left. Dearly Beloved and I will sit down and do what we do every month and look at what we have left that we can put into other saving funds. There is no budget for going out any where at all, there is no budget for a cup of tea or so much as a stamp. If you are serious about paying off your debts or paying off your mortgage early then you need to get real and pay everything you can at the beginning of the month. What ever I have will do.
I did my week’s shopping this month. I bought meat at the weekend and we’re eating out of the cupboards and larder. I bought two tubs of sunflower marg, 18 free range eggs, 6 litres of skimmed UHT milk, one punnet of cherry tomatoes, one head of celery and one cucumber - £8.75 and £3.25 for any other food for the rest of the week.
Oh boy - do I need Stoptober and I am so glad I won’t be doing this alone. Join me and others on Twitter for #FQstoptober and let’s keep each other going through this long lean month as we do what we can to make financial provisions for tomorrow! If you see a good tweet or blog with others cutting back this month, then lets share #FQstoptober. It’s tough for all of us and the least we can do is support each other.
Until tomorrow,
Love Froogs xxxxxxxxxx
