Baby step Badassity

[Nickyd£g]

Hi everyone, I'm new here, been reading for a couple of weeks and excited - and a little upset as I'm not sure I will ever achieve ER.  I'm aiming for 60yo, though 55yo would be better!  I read Dave Ramsay a couple of months ago, trawled some debt free blogs and eventually stumbled on MMM. Wow!

So, mu situation: 43yo female in Glasgow, Scotland, live alone in a 2 bed apartment with about £40k equity and 18 years left on a £56k mortgage.  I work for a government-esque body as an Admin Manager, currently on £22k pa.  Been here 4 years, worked up from a temp admin job (I'd been temping for about 2 years after taking some time out to travel - and spending all my savings :( grr).  Pretty good job, I contribute 5.6% of my salary in to a pension fund, my employer contributes 16%.  I only just started my contributions though - punch away.

I have no savings, been living a champagne lifestyle on beer money for the past few years and have £13k in CC/unsecured loans debt.  I'm determined to pay this off within 18 months. In the last few weeks since I've seen the light, here are a few things I've done:

Walked to and from work (approx 3 miles each way), rather than get the bus or train.  I do have a bike, but it needs repaired -I've asked my partner to fix it for free.  No car.

Got a part time retail job.  Minimum wage, only 8 hours contract but planning on hustling for more over the Christmas period.

Applied for a similar job with another, similar organisation at £26k.

Cut up all but 1 of my CCs, can't use it at the moment anyway as at my limit.

Not had the heating on at all, not used my dryer and been turning off appliances like a madwoman.

Removed data from my mobile and reduced my contract to £13per month - was £30!

Cut my own fringe.  Going to colour my hair this weekend too.  I will, however, be getting an eyebrow wax every 2 months but changed salons to a local one, cost £6

Swapped my shopping from Marks & Spencers/Tesco (verry expensive) to Lidl/Aldi.  Meal planned for the month, and have batched cooked for the whole week, including my lunches.

Cancelled my gym membership.  I do need to shed about 40lbs but I figure all the walking/cycling and better eating will help.

Listed a whole load of shite I don't need on Gumtree (kinda like Craigslist).  Nothing major but hoping it all adds up, plus will declutter the flat.

Written an actual budget.  I was horrified at what I was spending on crap!

I should have £365 left over after minimum debt repayments, mortgage, utilities and groceries come off to throw at my debt.  Once I am debt free, except for the mortgage, I should have £695 per month to save - 50% of my income.

Feeling very proud of myself! 

[apennysaved]

Welcome!  It sounds like you are jumping right in and have taken some positive steps in the right direction.  Congratulations and we are here if you have any questions.

[MsSindy]

Welcome and congrats on making changes - I'd say you're pass baby steps!

The next biggest challenge you'll have is keeping up this level of laser-focus.  Find things that will keep you motivated toward your goal (like a visual wall chart or something).  Also, don't let others around you derail your efforts.  Is your partner on board as well?

[kkbmustang]

Congratulations and welcome! You'll find this community very helpful. The comments make you think about things in a totally different way. You'll be surprised at the changes in your thoughts and actions if you really listen and implement changes.

[Nickyd£g]

Thanks for the encouragement folks!  I have been thinking (worrying) about finances for a few months now, so very motivated to get my life in order.  MMM seems very simple, and I used to be very frugal so I don't think I will mind the lifestyle change.

MsSindy, that is a great idea!  Will make a chart for my fridge I think.  As for my partner, he works incredibly hard and earns pretty good money but he is also generous, very time poor (so buys takeout), and has a lot of committments.  We are fairly new, so taking things slowly.  We don't tend to go on expensive dates anyway - our second date was a picnic in the park.  In February - and in Scotland, in February, it's COLD! ;)

[lizfish]

our second date was a picnic in the park.  In February - and in Scotland

I bow to your badassity. Nothing is outside your grasp if you're picnicking in Scotland in February. ;-)
Good luck with your plans. Don't forget, there are more ways than one to be financially independent and/or 'retired' but even just starting down the road and knowing it's possible puts you ahead of millions of others who are just treading the mill.

From a fellow Brit... albeit a soft southerner!