Thursday, 26 March 2015
One of my ultimate goals over the next five years, is to buy our first house. We have been renting since my husband and i started dating which was over 10 years ago. We moved into our first flat together after 6 months of dating and instead of saving money for a mortgage, we just enjoyed eating out and being young. Gilles proposed to me a year later and we soon realised that if we stayed in our flat, we wouldn't be able to save for the wedding so we moved back in with is parents for a year to save for the wedding. A week before the wedding, we moved straight into a rented house again and after having Elle, we moved into our current house which is owned by a friend. I dream all the time about owning our own home. We are so lucky in our current home because it is a big house and we have wonderful features such as fireplaces in the bedrooms and wooden floors so we haven't really been in a hurry to move out.
From September, Mia goes to full time school like her sister which gives me five days a week to work on my photography. I have decided that from then, i will start saving away some of my earnings so we can live off my husbands earnings and save mine. This is going to allow us to save up for our first house and also have savings that we have never had before. It makes it feel like that we are finally going to have a little bit of security and something to fall back on if we ever needed it.
-One of the first things that i am going to do is do a monthly budget plan. This is something that i have wanted to do over the last year but now i have started taking on more work, i have a better idea of our finances and Gilles and i can work out what we can save each month and what we can use as treat money.
-I would love to start meal planning. This ties a little bit into the montly budget plan. We live opposite a huge supermarket and it is so easy for us to shop on the day for our dinner or to just pop over for one thing and end up buying five because we can! I love the idea of doing the shopping on a monday and sticking to what we have bought to feed us for the week. We waste far too much money on things we do not need in that shop!
-Invest! Even though we want to save, i would love more security for our future and more security for the girls. I have recently come across Nutmeg which allows you to create a portfolio and invest your money over a wide range of schemes such as stocks or commercial property. Nutmeg help you set up and can choose the right investments for you and you can see where your money is invested and how it is growing via the website. If you have previous ISA's, they can be transferred over to your account. The best thing about Nutmeg is that you can spread your money over different investments to get the best benefits without putting all your money into one investment. Having them spread over many different investments opens up opportunities for good returns and lowers the risk.
This seems like a perfect choice for us. Having something which would allow the girls to potentially benefit from is highly important to me.
-Keep track of my own incomings and outgoings. I tend to spend money as and when it comes it. Sometimes i cannot even tell you where the money has gone! It is just little things like a day to the soft play centre or a quick stop at the garden centre before the school run. I have started keeping track of everything by using spreadsheets which allows me to see what i am spending and to see where it is going and how i can curb that spending such as leaving my purse at home when i pop to the garden centre. I don't need that costa hot chocolate to walk around the shop with and those egg cups that i might put in my basket because they would look perfect on a shelf in the kitchen! ;)
I am really feeling positive about our finance goals. I think it is achievable for us and if i keep in my head how important it is to us to find our own home, then i know we can stay on track as there is something that we are working towards. We have set out goals and i am just looking forward to achieving them now!
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