Not the best start to my Mortgage Free Challenge

Happy New Year Everyone!!

I'm trying to be optimistic about the new year but things haven't got off to the best start unfortunately. My husband found out he lost his job on the eve of New Years Eve. Things have been quite tight over the past 2 months or so but I've been trying to keep focused on my Mortgage Free Challenge and have made the odd mortgage overpayment here and there. I'm wondering now whether I've made the right decision or not. We've used our credit card quite a bit over this time and although we've always managed to pay off the outstanding balance each month in full, the past 2 months has seen me dipping into my (very small!) savings pot, which in hind site, is not the most Money Saving rule to follow.

OK, so now my husband has been given the news, it's time to review how we are spending money to avoid us getting into further debt. OK, so I don't consider us being in debt as such but I'm very uncomfortable about the fact that the Overdraft facility is in full use as is our good old friend the credit card.

I have been trying to cut spending but as I mentioned in an earlier post, it is far too easy to spend money (that we can't afford at the moment!) It has been the most expensive time of the year and as much as I'm through it now, there are certain money spending decisions I've made that I think I would think twice about if I was given the chance again.....but I won't get that chance again so instead, my New Years Resolution is to 'Think Twice when Spending Money' and ask myself - 'Do you really need that purchase?' I'm sure in 75% of cases, the answer will be 'No!!' but we'll see.

So here's wishing you all a Very Happy New Year and lets hope things move in the right direction for us all!!

Px