Hi there! It's been almost two years since I've made the previous post, skim it first: https://www.reddit.com/r/UKPersonalFinance/comments/1dfsxm5/my_finance_discipline_is_terrible/
Just wanted to share some updates (like anyone cares).
It's been rough 2 years, but I think we are at better place now.
Numbers update:
My TC is ~135k now
My savings are 35k and growing fast.
My debt is 0.
What happened for two years:
My wife has quit her job and spent a year with no job, but eventually she found something neat with around 45k TC.
We moved from a house to a flat (down from 2500 to 1800 in monthly rent)
We started cooking way more and we started spend less on food because we also managed to lose weight (both of us went down like 25-35kg each). I guess if you want to learn financial discipline you also get to be more disciplined in every way.
So currently our plan is following:
We use my income as the source of living for every possible payment
We dump all extra money (including 98% of wife's salary) into Cash ISA, around 3-4k a month
We plan to get a mortgage next year, because living in a flat is a no go for both of us, but as a temporal saving measure it's alright
Our lifestyle is still on the expensive side, but I think it's better that way to not lose our mind
I want to say big enormous thank you to everyone who commented on the original post. My financial life is much better now and whenever I feel bad I just remember I have no debts and a bit of savings (although this feeling is going to get away when I get a mortgage).
The only puzzle for me is what am I going to do when we run out from cash isa allowance this financial year? Just a regular saving account? Stock ISA? Currently we utilize only my wife's cash ISA, I decided to not bother with mine because of my tax bracket (didn't want to bother investigating the savings complications yet)