It’s been a year – 1st anniversary

Since I started this blog – wow how time wizzes by.

This was my first post.

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Challenge #1 was to reduce food spending – we are now in the swing of things after a year of looking for yellow stickers, buying meat when it’s on special and putting it in the freezer, bulk buying – stock pile non-perishables when they are on special.  We spend £500- per month; I think it can be reduced but that will depend on everyone on the Hen house being on side.  [Yes you, you there I know you read this?!?]

Challenge #2 build-up emergency funds. This is added to each month and is now £2,000 – it has been used a couple of times and then replaced. I am aiming for £3,000 by year end.

Challenge #3 debt snowballing.  This was perhaps the most revealing; shocking to start with when we realised how much debt we were in - putting it on paper in black & white is very cathartic.  We started with six credit cards and owned over £54k between us; we are now down to four and owe just over £34k (still way too much), a third card will be paid off in the next 3 months, the final payment on the car loan is in September after which snowballing on card #6 can start in earnest.  This card has the lowest interest but I will look at if a balance transfer to a completed card is viable to save.

Sealed pot challenge is continuing;

as I don’t spend much in cash what goes into the tin is limited but I am always on the lookout for £2 coins and £5 notes – both Daddy & SonnyHen feed the tin when they get either.  I weighted the tin back in April and it was 7.1kgs today its 7.5kgs – I have added all this;

 in the spirit of challenge I didn’t count it but it must be around £120.

MummyHen X