I mentioned a number of goals in a previous post that I wrote for my birthday. 1 quarter of the way into the year, I thought I would do a recap. My main goal was to buy a house and invest some more money into myself and I have managed to do this! These were the goals:
- Buy an apartment hopefully by May with at least 5% down (almost done! yay!)
- Save more for retirement (switch to employer matched plan only) (starting in May)
- Keep paying off my student loans and credit card debt every month (doing!)
We managed to achieve goal 1 by putting a 5% downpayment on a 2 bedroom semi-detached in the town where we live. We will hopefully be closing on this place in a couple of weeks. We decided to not buy in London because it was just way too expensive and I would still have to commute anyways, so we wouldn’t be saving that much. My husband has conceded to taking the train over an hour every day to work to do this for a grand cost of about 16% of his take home salary. Transportation costs continues to be a major expense (and energy suck) moving forward.
We haven’t been able to do number 2 (any more savings in addition to what we save now with our employers) yet because all of our extra income has been going into the house purchasing and downpayment. But, once we move, my next goal is for us to both max out the Lifetime ISA savings (4000 pounds per person) for the next 10 years. I also read this post on someone’s 10 year saveathon to building positive net worth and I though it was really inspiring. Because of it, I am going to start calculating our net worth.
We have also been paying off our debts in the meantime. Half of my partner’s student loans are now gone! We are 54% done paying off our over 100K debts. Our current payoff date is August 2023 (not including the new mortgage). I can give you the actual numbers because they are in a bunch of different currencies.
In addition to these big goals, I had a number of other goals that I wanted to achieve and I have had mixed success on this.
This we have not been able to do. We are closer to 50 pounds a week although we are better at taking lunches these last three months. My trainer (see below) just gave me a meal plan to try for next week. I will make a shopping list and see how much it costs but it looks like it needs a lot of adjusting for my FODMAPS. Shaving our food costs is also something I really want to focus on.
5. I will spend on health personal exercise partner/trainer. This is for me. This is my mental health costs.
This is just increased so I will be paying a whopping 9*20 = 180 pounds on personal training / exercise a month. My husband will pay another 100 pounds. This means we will spend 280 pounds on exercise costs alone moving forward, or 3360 per year. Even though it is very expensive, there are two benefits that go along with it. First it means that I will eventually be able to fit into my old clothes, which means that I don’t have to buy new clothes. I have so far shaved-off some extra centimeters over the last 3 months. This alone should help offset the costs as I actually have some really nice clothes and I’m committed to not buying any more or new ones until I am done losing some weight. Second, investing in our health today should lower our health care costs going forward. I try to think of exercise as a healthcare cost supplement to what we already pay in health insurance. Being healthy and fit seems worth it.