Pay off mortgage and start having fun!

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  • pammyj74
    pammyj74 Posts: 3,290 Forumite
    Good luck with it all. My friends think I am mad when I dont want to go out to the pub with them and would rather pay it on the mortgage then drink it away. I will have time to do all that later :)
    They will all be jealous in 10 years time :D
    MPs left feb '08 276- Dec 13 36 :T MB Jan 10 ~ £82,377 Dec 13 ~ £29987
    EMFD was Feb 32 :eek: NOW Dec 2013 its Dec 2016
    MF new target Dec 16 REACHED!! :j
  • newgirly
    newgirly Posts: 8,894
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    I agree Pammy, I can't wait to start having nice holidays and weekends away, :beer:.
    It would be great to have paid off the mortgage by the time the kids have all left home. Although I'm sure we will help them start out, if we have paid it off.

    What willl everone spend the extra money on when the mortgage is gone? My embarassing confession is I would like a static caravan:o
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • newgirly
    newgirly Posts: 8,894
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    :j YAY! I have just posted off the signed papers for our re-mortgage. We have been allowed to switch 3 months berore the old fixed deal ended.

    when it all goes through we will have a £161,500 ish mortgage over 12 years, with a monthly payment of £1367.57, thats £406.00 more than we are paying now:eek:

    We also have £9903 on a 0% credit card which I would like to include in our mortgage total, as we were going to add it to our mortgage but it was cheaper to leave it as it is.

    So new grand total:

    £ 171,403.00

    Its a scary amount, and its about £100,000 more than we should have owed had we not run up so many debts over the years, but I feel very optimistic now as I know we will pay it off much earlier than the 29 years left.
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • pammyj74
    pammyj74 Posts: 3,290 Forumite
    I know exactly how you feel. My original mortgage was only £40k :( but my ex was terrible with money and we had another loan to get the house done up and then I had a CC and he had a couple that were run up and so what we intended to do was when we sold the house to pay it all off and start afresh but that didnt happen and when he left I had to remortgage with it all together hence it was £90k. when i found out the figure I could have cried :(

    I wish I could afford to pay a lot more OPs then I do. its an obsession!
    MPs left feb '08 276- Dec 13 36 :T MB Jan 10 ~ £82,377 Dec 13 ~ £29987
    EMFD was Feb 32 :eek: NOW Dec 2013 its Dec 2016
    MF new target Dec 16 REACHED!! :j
  • newgirly
    newgirly Posts: 8,894
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    Am struggling this first month (of being seriously careful with my money). It is taking some getting used to thinking about every single bit spent. I have found I am not going out as much, where i used to go out for coffee and a wander round the shops with friends, i just don't enjoy it as much as I know I don't want to spend.

    This really is going to be a challenge, its just starting to sink in. I thought I would be able to carry on more or less as before but spend a lot less without anyone noticing. But I am going to have to start saying no to things a lot more often, invites to candle/jewellry/toy/etc. parties.

    I know it will be worth it, but it really takes some getting used to because, DH and I have both always spent everything we had (and more!)


    I know he does agree with what I am doing but only if it doesn't impact his life, I don't want to be the one that always says no to every thing.
    But we are already spending a lot more than we should this year as (before starting as a MFW) we booked a weeks holiday abroad. Its our first foreign hoilday in 14 years, and i'm still glad we booked it but its such a lot of money for us :eek:

    Anyway the small things i have being doing lately to help are:
    • surveys, one poll /VO/ lightspeed
    • going through topcashback
    • pigsback
    • cooking mine and DH meals from scratch
    • using nearly all food I buy, instead of binning loads
    • heating off (I know its may but i like to be warm!)
    • going shopping for fun much less
    • loose change in the mortgage pig
    • changed gas/elec deal
    • applied for a free energy monitor
    Hope this is not getting too tedious to read, but I need to keep posting and reading everyone elses threads so I don't lose motivation:D
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • newgirly
    newgirly Posts: 8,894
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    Thanks Michelle, I do already do some of the suggestions you made,( girly karaoke night in is one of my faves !).
    As for the social life, I know where you are coming from with the kids.
    We had 3 in the space of 3 years, and it just wasn't worth the effort to get out of the house, now they are older and its easier, but they are the ones with the better social life than us :rotfl:
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • cha97michelle
    cha97michelle Posts: 5,818
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    I like the sound of the karaoke night. :D
  • pammyj74
    pammyj74 Posts: 3,290 Forumite
    newgirly wrote: »
    Am struggling this first month (of being seriously careful with my money). It is taking some getting used to thinking about every single bit spent. I have found I am not going out as much, where i used to go out for coffee and a wander round the shops with friends, i just don't enjoy it as much as I know I don't want to spend.

    This really is going to be a challenge, its just starting to sink in. I thought I would be able to carry on more or less as before but spend a lot less without anyone noticing. But I am going to have to start saying no to things a lot more often, invites to candle/jewellry/toy/etc. parties.

    I know it will be worth it, but it really takes some getting used to because, DH and I have both always spent everything we had (and more!)


    I know he does agree with what I am doing but only if it doesn't impact his life, I don't want to be the one that always says no to every thing.
    But we are already spending a lot more than we should this year as (before starting as a MFW) we booked a weeks holiday abroad. Its our first foreign hoilday in 14 years, and i'm still glad we booked it but its such a lot of money for us :eek:

    Anyway the small things i have being doing lately to help are:
    • surveys, one poll /VO/ lightspeed
    • going through topcashback
    • pigsback
    • cooking mine and DH meals from scratch
    • using nearly all food I buy, instead of binning loads
    • heating off (I know its may but i like to be warm!)
    • going shopping for fun much less
    • loose change in the mortgage pig
    • changed gas/elec deal
    • applied for a free energy monitor
    Hope this is not getting too tedious to read, but I need to keep posting and reading everyone elses threads so I don't lose motivation:D

    This is not tedious at all, it is showing how you are really trying. It cant be changed overnight (cold turkey) and it will take even longer for your DH to actually realise what a better effect it will have.
    I think it is a good thing you have booked the holiday as you can see it as a reward for doing so well.

    I am the same with the heating, I love being warm but we sit here with blankets lol. My ex father in law always said 'put a jumper on!'
    On the shopping side of things, I feel guilty now if I spend on rubbish but every now and then I will buy something not needed but wanted (today bought some new plants)

    As for the social life, my kids have it good as well. I have become a bit of a recluse but the way I am looking at it is - I am a single mum, my kids will be independant in say 7 years time and if I am really good with money I may be mortgage free and can enjoy myself then and have my life back.
    MPs left feb '08 276- Dec 13 36 :T MB Jan 10 ~ £82,377 Dec 13 ~ £29987
    EMFD was Feb 32 :eek: NOW Dec 2013 its Dec 2016
    MF new target Dec 16 REACHED!! :j
  • newgirly
    newgirly Posts: 8,894
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    edited 21 May 2010 at 7:30AM
    Hi everyone :)

    I have managed to get some more info fron my mortgage provider this week. They have finally changed my rate. So as of 17th May I owed £160,936.11 I am adding my credit (0%) to this total which is £9903 so a new grand total of


    £170,839.11

    They told me mty daily interest is £15.12 at the moment, I have also worked out that I was paying £26.03 per day before the switch over this week :eek:.

    Anyway I managed to have a quick chat with OH last night, about the saved interest and what we will now be paying. He seems ok with it all but did say "well it will be great if you stick to it!" so I think that may be why hes not that interested, I've had so many "we must pay off the debts" chats over the years which have always come to nothing. So I guess I'll have to prove him wrong this time!;)

    I am off to mr s this morning to do a weekly shop, i might have to give in to temptation and buy a nice bottle of white wine as its going to be such a nice hot weekend. :beer:
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • SmlSave
    SmlSave Posts: 4,911
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    Have a lovely weekend newgirly :) I've already been naughty and bought wine (3 for £10) :o

    daily interest is crazy isn't it?!? - we will get it down!
    Currently studying for a Diploma - wish me luck :)

    Phase 1 - Emergency Fund - Complete :j
    Phase 2 - £20,000 Mortgage Fund - Underway
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