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  • FIRST POST
    • CathT
    • By CathT 2nd Sep 10, 11:22 AM
    • 5,356Posts
    • 36,772Thanks
    CathT
    CT's attempt at being mortgage free
    • #1
    • 2nd Sep 10, 11:22 AM
    CT's attempt at being mortgage free 2nd Sep 10 at 11:22 AM
    Hi all,

    Originally came across this forum and had the idea of OP in the short term while interest rates so low but have been so inspired to make being MF a realistic goal.
    Initially was inspired by Financial Bliss's diary and then read many others taking in lots of tips and posting the occasional comment.

    So, a bit about me. Live with DH and DD (aged 2) with outstanding mortgage of just over 119,000 with about 19.5 years left on the term. We are young ish! and would hope to be MF by time i'm 40 (DH 45) so pretty much a 10 year ish plan.

    We have a fair income (about 40k joint) but have been used to living on a lot less so am hoping to direct disposable income at mortgage)

    Thanks for reading so far and I hope you will join me on my journey to keep me motivated!!
    Last edited by CathT; 20-12-2011 at 1:49 PM.
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
Page 3
    • museumworker
    • By museumworker 15th Sep 10, 10:47 PM
    • 1,968 Posts
    • 11,127 Thanks
    museumworker
    Not managed to do much off my list today!
    Originally posted by CathT
    Looks like you've saved £17 pm today already = £204 per year. Set up a direct debit into the mortgage/savings account for it from next month, as you won't miss it if you never see it! With the potential extra £50 saved from OH's shaving of personal budget (£600 pa), sounds like a very good day! It takes much longer than you think to make changes (permanent ones at least), make sure you recognise every achievement!

    We do £150 a month personal spending / pocket money each, I think it is plenty. We don't always get through it - as it is all that is left in our personal account after transferring to joint account, makes you keep an eye on it and not overspend! Any leftovers are transferred to savings at the end of the month.
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • Iris Blue
    • By Iris Blue 15th Sep 10, 11:20 PM
    • 1,318 Posts
    • 5,764 Thanks
    Iris Blue
    You asked what others have for personal spends ?

    We don't have any as we don't go out much. Hair care, make-up are both included in food shopping, haircuts have a category of their own on the budget sheet as does entertainment.

    I don't really know what people spend their personal spends on. But thats because we've never had it.

    Every penny we have is accounted for ( to some extent). Although if we really want something then we'll get it as we always have money left over in our budget - it just means that we do OP/save as much that month. It works for us. We share our money and I know that doesn't suit everyone but it suits us.

    HTH
    I can't be bothered updating this anymore
    • CathT
    • By CathT 16th Sep 10, 9:01 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Looks better when you write it down like that MW.

    Originally me regular SO for OP was £50 but increased to £70 following paying for home insurance in one go. Looks like i can add another £67 (round up to £70) making a new regular OP of £120!

    I used the spreadsheet yday to see what difference it would make. One of my targets is to get to <100k by end of 2012. These new payments would leave me at 103k so quite in reach! (was 107 based on OP of £50)

    Spends wise, as i said DH buys a lot of junk! I personally have hair cut and coloured (by a friend 25) every couple of months, buy occasional Avon (but only things we need and that would be cheaper than supermarket) and not much else I can think of! We tend to spend more when we have a day off together and take DD out but I'm sure we could manage on a lot less for personal spends.

    So far today, have managed a few Onepoll surveys and should try and do some more things off my list!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • CathT
    • By CathT 18th Sep 10, 8:45 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    I appear to have gone slightly off the rails and seriously need to curb my supermarket spending. Popped in for a few things yday for DD bday on Monday and spent £53!

    Really need to check out the boards on here for ideas. Anyone got a link please? I try and remember ideas from others diaries but if it's here I may actually do something about it!

    On a brighter note, DH has decided he no longer wants a new car (new boiler it is then!) but little does he know that I'm still going to reduce his personal spends!! He literally spends it on cd's,dvd's and junk!! Yes he pays for the odd treat but i'd rather keep the money in our joint account, not have the treat and use it to overpay!

    Get paid next week but not sure what I'll be able to OP as taken some money out of savings this month to live on! Not sure what has gone wrong, must have had an expensive month - my money ALWAYS lasts!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • CathT
    • By CathT 18th Sep 10, 9:48 PM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Managed to have a NSD which was helped by the fact we were both working!
    Am sat here soooo cold this evening, how do lots of you manage not to switch the heating on till November. And yes, I am sat here in my jacket.
    Just checked Onepoll, nothing. Think I missed all the surveys today!

    Roll on payday to sort out some OP's!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • SmlSave
    • By SmlSave 19th Sep 10, 6:35 PM
    • 4,701 Posts
    • 16,360 Thanks
    SmlSave
    Am sat here soooo cold this evening, how do lots of you manage not to switch the heating on till November. And yes, I am sat here in my jacket.
    If you're sat with your warmest clothes on and am still cold hun then put the heating on.(unless you're willing to do star-jumps to warm up) Its not worth getting ill. Me and DH seem to cope without the heating being on ok in our own house but strangely I'm always cold round other peoples!
    Boy Smllet born 23/06/2011 and Girl Smllet born 01/03/2014

    5 year challenge to pay off £20,000
    £350 per month challenge
  • Baby steps
    I appear to have gone slightly off the rails and seriously need to curb my supermarket spending. Popped in for a few things yday for DD bday on Monday and spent £53!

    Really need to check out the boards on here for ideas. Anyone got a link please? I try and remember ideas from others diaries but if it's here I may actually do something about it!
    Originally posted by CathT
    I always find meal planning really helps keep my food spend down. I do a plan every week and then only buy stuff for those meals, unless the offfers are really good!! That really helps.

    I also know a lot of people do on-line shopping, less temptation at the shops that way. As well as cash back!!
    Mortgage @ 01.06.10 £165,999
    Mortgage @ 31.10.13 £14,664
    • CathT
    • By CathT 20th Sep 10, 9:14 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Heating went on SmlSave, not that evening, I went to bed instead!!
    Next morning was a bit nippy tho so put it on for an hour to take the chill off as we had people popping round. Can't have them knowing i'm tight!
    Babysteps, i did my first online shop a few weeks ago which was helped by a £10 off voucher and found i did a much better shop because I had to PLAN and literally just bought things off my list. I think the lack of hassle of taking a 2 year old shopping outweighs the delivery cost and Quidco give £1 for Sainsburys. Have last day of being ruthless buying things we need then back to being strict!

    Funny how I want it to be payday to work out my OP's rather than to spend any money!

    Have a good day everyone, DD birthday today so off to get her more presents!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • CathT
    • By CathT 20th Sep 10, 9:19 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Heating went on SmlSave, not that evening, I went to bed instead!!
    Next morning was a bit nippy tho so put it on for an hour to take the chill off as we had people popping round. Can't have them knowing i'm tight!
    Babysteps, i did my first online shop a few weeks ago which was helped by a £10 off voucher and found i did a much better shop because I had to PLAN and literally just bought things off my list. I think the lack of hassle of taking a 2 year old shopping outweighs the delivery cost and Quidco give £1 for Sainsburys. Have last day of being ruthless buying what we need then back to strick MSE!

    DD birthday today so off out to get her more presents so should be lots of fun!

    Can't wait for payday, not so I can spend but so I can work out OP's! Am used to sending smaller OP throughout the month but not seemed to have happened this month

    Have a good day everyone!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • CathT
    • By CathT 20th Sep 10, 9:24 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Excuse the double post, internet playing up!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • CathT
    • By CathT 22nd Sep 10, 4:06 PM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Well it's payday tomorrow so hoping for some back pay from last month I am owed. Have no idea what my wage will be but hoping to make a decent OP. This month has been so expensive and I have only OP £60 and what I saved has ended up being spent

    Really must get back on track this monh esp with the food shop. Anticipate lots of stews being eaten!

    Have bought a few presents for Christmas, really not going mad and spending a lot. Need to get organised and make a written note of what I have bought and where it is because I always forget!

    Possibly doing a car boot sale at weekend (weather permitting), maybe if we clear clutter I won't feel like we are outgrowing the house! Obviously anything made will be going to OP.

    Having better luck with Onepoll, have realised hardly any surveys get sent to my phone so am remembering to check when I'm on computer.
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • cha97michelle
    • By cha97michelle 22nd Sep 10, 4:28 PM
    • 5,639 Posts
    • 67,574 Thanks
    cha97michelle
    If it makes you feel better we turned our heating on Sunday evening too. We got back from London and i couldn't even take my coat off i was so chilly. It was only on about 10 minutes though and the new thermostatic radiator valves, boiler and cavity wall insulation are really good. It hasn't clicked on again since then (thermostat set to 19 degrees) so it must have warmed up a lot since Sunday here.
    • CathT
    • By CathT 22nd Sep 10, 6:38 PM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Hi Michelle, we had that one cold night and then it has really warmed up since. I keep thinking my heating must be on it is that mild! I have heard people say snow is forecast? I really hope not! Our house isn't a warm house but with the cavity wall insulation it seems to retain the heat pretty well so heating doesn't need to be on for long.

    Am hoping for a peaceful evening tonight so can catch up on a few diaries
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • cha97michelle
    • By cha97michelle 22nd Sep 10, 10:07 PM
    • 5,639 Posts
    • 67,574 Thanks
    cha97michelle
    I heard that about snow next week. Hopefully not. I am enjoying this mini heat wave and getting all the clothes dried outside.

    I wish we had done the cavity wall insulation a few years back. Amazing how it makes a difference. I don't do cold, so hopefully we will save a lot this winter.
    • CathT
    • By CathT 23rd Sep 10, 8:45 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Well, got paid today and it 'appears' to be correct so I can plan my OP for the month. Aiming for £300+ as have a bit extra income this month although am going to clear a £750 CC (forgot to mention in SOA!) With that cleared still owe ~£500 but will be adding to that with new car purchase which is going on a 0% card (hence the big payment this month so that card can be freed up) with the aim of paying it off by end of interest free period next Sept.
    I know buying a car on a CC is frowned upon but I am very disciplined and am doing it to save the £700 it would have cost us in interest payments had the car gone on 7% finance over 2 years as well as being able to pay it off quicker.

    Things I still need to do:

    1) Look into selling books on Amazon
    2) Search for cheaper i-phone insurance
    3) double check SOA still tallies up as I have amended some figures
    4) Organise what we can sell in carboot sale this weekend (not sure how much of it is ebayable and tbh their charges are annoying me!)
    5) Keep up with OnePoll and Yougov surveys
    6) Delay food shop till after weekend to give me time to meal plan! (think tesco have a delivery offer for new customers so might use them)
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • Iris Blue
    • By Iris Blue 23rd Sep 10, 9:05 AM
    • 1,318 Posts
    • 5,764 Thanks
    Iris Blue
    I HATE the snow although I do have some gorgeous Cath Kidston wellies that I bought cheaply this year that I plan to wear ! So it's ok to snow for an hour then disapear quickly

    I think it's ok to purchase a card on CC as long as you pay in off quickly and it's interest free. They can be great short term loans and save money

    Well done on your op's
    I can't be bothered updating this anymore
    • teapot2
    • By teapot2 23rd Sep 10, 11:29 PM
    • 1,643 Posts
    • 5,319 Thanks
    teapot2

    Things I still need to do:

    1) Look into selling books on Amazon
    Originally posted by CathT
    Hi Cath, I've been selling on Amazon for a few years now - one of my back ups in case things go belly up. If you have any questions I'd be happy to try and answer them. Theres also a thread in the ebay forum for selling on Amazon tho its often to be found a few pages back these days. Teapot
    • CathT
    • By CathT 24th Sep 10, 9:47 AM
    • 5,356 Posts
    • 36,772 Thanks
    CathT
    Hi teapot,

    Well, i listed 6 books before work yesterday and came home to find one of them had sold! Will get that posted off today so that should earn me an extra £10 to send as OP. Not bad considering I have been trying to give these books away for months!

    Thanks for the offer of help, I may take you up on it! I am going to confirm shipping today so I assume Amazon will forward my money to my bank account? I will check out the thread as I think I have a fair bit i could sell on Amazon.

    Am still waiting for a payslip to arrive as think wages may be a little wrong (as they always are!)

    Surveys are going well here, hoping for some payouts pre-christmas.

    Need to pop out for bread and milk later so hoping it doesn't turn into a big shop. Might just buy enough things to make a stew for over the weekend.

    Hope everyone has a good day!
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • SmlSave
    • By SmlSave 24th Sep 10, 3:45 PM
    • 4,701 Posts
    • 16,360 Thanks
    SmlSave
    Delay food shop till after weekend to give me time to meal plan! (think tesco have a delivery offer for new customers so might use them
    Hi CathT I've used every supermarket for internet shopping - just to get the new customers discounts! I now alternate between them depending on my fancy.
    Boy Smllet born 23/06/2011 and Girl Smllet born 01/03/2014

    5 year challenge to pay off £20,000
    £350 per month challenge
    • teapot2
    • By teapot2 24th Sep 10, 5:07 PM
    • 1,643 Posts
    • 5,319 Thanks
    teapot2
    Hi teapot,

    Well, i listed 6 books before work yesterday and came home to find one of them had sold! Will get that posted off today so that should earn me an extra £10 to send as OP. Not bad considering I have been trying to give these books away for months!

    Thanks for the offer of help, I may take you up on it! I am going to confirm shipping today so I assume Amazon will forward my money to my bank account? I will check out the thread as I think I have a fair bit i could sell on Amazon.
    Originally posted by CathT
    Well done on the sale - should warn you its addictive!! Yes the buyer will be charged once you have clicked 'confirm shipping' though it sometimes takes a while to show up in your account online. Amazon can be v slow. They move money automatically into your account every 2 weeks and for the first payment I think it might be a month but can't remember - it can take 6 - 10 days to show up in your account though. After that once you are 'established' with them you can request a disembursement [as they call it] any time.

    Good luck
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