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  • FIRST POST
    • AlexLK
    • By AlexLK 8th Mar 15, 11:07 PM
    • 5,637Posts
    • 28,980Thanks
    AlexLK
    Renovations and Repayments.
    • #1
    • 8th Mar 15, 11:07 PM
    Renovations and Repayments. 8th Mar 15 at 11:07 PM
    Hello and welcome to visitors familiar with my journey thus far and are surprised to see me on such a sensible board and a further warm welcome to the new faces wondering what they've let themselves in for.

    Let me begin by clarifying a few points: the first one is I am not sure whether I'm actually serious or not about clearing my mortgage and the second is the fact my house needs quite a bit of work doing to it. This work I do myself and in the time my wife and I have lived in the house we've learnt all kinds of new skills. The current project involves renewing the windows and I am making the frames myself, two are done and I'm pleased to say look great.

    I plan to use this mortgage free (how very grown up) diary to document the renovations and my savings activities, out of which overpayments may or may not be made. However, I am fully committed to long term saving and making as much money as possible. A long term goal of mine is to add to the BTL portfolio I shall one day inherit and am already becoming more involved in which is perhaps a good reason to pay my mortgage off and make my current property into an investment.

    Aside from the recent interest in moneysaving I have a four year old son, run my own company, play and teach the violin and piano whilst studying for my own interest. Oh and don't mention the cars.

    Those familiar with my debt-free diary will know I'm not exactly great at record keeping but am trying to improve, so please don't expect the detailed financial updates others seem to put on here. To kick things off, I suppose I ought to confess the mortgage debt is a total of circa 185,000 and I have no real timescale or plan in mind to pay it off.

    Sorry if this is not a particularly articulate introduction, as I seem to be at a loss how to tailor it to both those who've read my debt free diary and to new readers frequenting mortgage free.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
Page 2
    • AlexLK
    • By AlexLK 2nd Apr 15, 12:07 AM
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    • 28,980 Thanks
    AlexLK
    Wednesday 1st April, 2015.

    Dear Diary,

    I cannot quite believe we are into the fourth month of 2015, the last few months before my son begins attending school seem to be going so very quickly.

    Pleased to report I'm getting into the habit of paying my bills on time. I used to leave everything until the final reminder came through before paying it but I've realised it feels much better to pay the bills as they come rather than leaving them. Nothing else to really report financially apart from 67.00 going into the savings today to start April and that next month my wife should also be credit card free.

    As this diary is meant to be about my house, I suppose I should report that I have once again failed to do any work to it. However, at least I can cite the current inclement weather as a convenient excuse.

    On other matters, I'm very much looking forward to tomorrow's debate - though I always enjoy a good election campaign. My parents are having a bit of a debate get-together so I will be going there to support Cameron, boo Miliband but more importantly to consume their wine.

    Yours Faithfully,
    Alex.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • edinburgher
    • By edinburgher 2nd Apr 15, 7:28 AM
    • 10,593 Posts
    • 54,944 Thanks
    edinburgher
    Trying to stay positive means I can smile about my current daily being a mobile drawing room Daimler 4.0ltr borrowed from the parents as it has a tow bar.
    It is, as they say, a hard life

    What time is the televised debate on tomorrow? Taking Mrs E away to a seaside hotel for the night, but would quite like to catch some of it.

    None of the parties have showered themselves in glory in my eyes, will need some convincing.
    • ajmoney
    • By ajmoney 2nd Apr 15, 8:50 AM
    • 4,801 Posts
    • 55,238 Thanks
    ajmoney
    The debate is tonight at 8pm on ITV.
    2017 MFW No. 70 2527.53/5500
    MFiT-T4 No. 70 15294.37/329736
    Mortgage 126083.76 Savings 82994.41
    Total left to pay/save 43089.35
    • AlexLK
    • By AlexLK 2nd Apr 15, 12:34 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    It is, as they say, a hard life

    What time is the televised debate on tomorrow? Taking Mrs E away to a seaside hotel for the night, but would quite like to catch some of it.

    None of the parties have showered themselves in glory in my eyes, will need some convincing.
    Originally posted by edinburgher
    The weather is nice enough to get the classics out today. Mrs. K. has gone to work in one of the Triumphs and I'm thinking about a drive around with the roof down, such is the joy of self employment.

    Enjoy your evening away. When is the baby due, it can't be too long now?

    As for the politics, I do think it's a difficult choice for a floating voter.

    The debate is tonight at 8pm on ITV.
    Originally posted by ajmoney
    Thanks.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • edinburgher
    • By edinburgher 2nd Apr 15, 12:38 PM
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    edinburgher
    Less than 7 weeks now

    I have always disliked the phrase 'floating voter'. I think it stems back to a doorstep canvasser asking me who I was voting for and being told that I would vote for the party that best represented the concerns of myself and my family. He looked at me like something he had just stepped in, appearing mortified that I had not established a lifelong political preference at the age of 29, before finishing up with 'ooh, you're a floating voter' (delivered in a 'Carry On' vein). He then appeared to give up...

    Surely converting the undecided should be the life's work of someone who is canvassing for a political party?

    Suffice to say I never voted for his mob
    Last edited by edinburgher; 02-04-2015 at 12:40 PM.
    • AlexLK
    • By AlexLK 2nd Apr 15, 12:48 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    I'd agree the role of a canvasser is to convert the undecided or the "I'm voting for x party because my parents do" voters. We are very lucky to get no canvassers knocking at our door but I do know a couple and at least one seems more interested in talking to those certain to vote for his party than persuading anybody.

    Go on, admit the canvasser was from the Labour party.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • AlexLK
    • By AlexLK 2nd Apr 15, 11:45 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Thursday 2nd April, 2015.

    Dear Diary,

    Well, I enjoyed watching the debate. The comment of the evening had to be David Cameron telling the audience that Labour party MPs employ around 70 people on zero-hours contracts. However, I was rather surprised by the performance of some of the other leaders.

    Clegg I find rather patronising and cannot understand how he gained popularity at the last election and whilst Sturgeon was a strong performer, I have to say I've more contempt for the SNP now I know a little more about what they stand for than before the debate. That said, they do at least seem to be passionate about their party and I thought she became the leader this evening rather than the public knowing her as Salmond's deputy.

    Do please forgive my posts about the election; I wasn't in the right state of mind to enjoy the last election campaign.

    As for other news, I had an interesting conversation with a customer about some work I'd like to do on the house which seems to have reignited a little interest in my window project. This lead to me promising Mrs. K. one will be completed in the first week she's away and I'm at home.

    Yours Faithfully,
    Alex.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • gallygirl
    • By gallygirl 3rd Apr 15, 6:14 AM
    • 16,342 Posts
    • 106,972 Thanks
    gallygirl

    The comment of the evening had to be David Cameron telling the audience that Labour party MPs employ around 70 people on zero-hours contracts.
    Originally posted by AlexLK
    Really??????? I may have to watch it after all .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = 0
    "Do what others won't early in life so you can do what others can't later in life"
    • AlexLK
    • By AlexLK 3rd Apr 15, 9:43 AM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Yes, though I wasn't surprised. Labour are utter hypocrites.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • AlexLK
    • By AlexLK 3rd Apr 15, 10:06 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Friday 3rd April, 2015.

    Dear Diary,

    Today has been a really bad one, it's been one of those days when I wonder why I bother at all with life. For it seems that my life is filled with a level of chaotic mess I cannot see in others. Today has been one of those days I have questioned why I own so little of my house and why I've not got the work done that has needed doing for years. Clearly, there's more to life than sorting the house out but that is just one more thing I have failed to achieve but have no real plan, other than turning to my parents, to solve.

    Yours Faithfully,
    Alex.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • ourcornercottage
    • By ourcornercottage 3rd Apr 15, 11:00 PM
    • 1,497 Posts
    • 7,450 Thanks
    ourcornercottage
    Having read through your diary you should look at the positives of all you have achieved. Getting rid of your debt and saving is a real achievement.

    We are renovating a house currently and have moved here from a house which we also renovated decided it wasn't big enough and sold. This has been over 6 years now and it can get demoralising at times.

    Motivation goes up and down, you definitely shouldn't beat yourself up over it. We've had months where we're can't be bothered to do anything. This is totally normal you just need to go with it.
    119,375.00 MFW16 #9 3952.49/6000 Jan-536.60 Feb-610.39 Mar-1006.22 Apr-549.92 May-739.57 Jun-504.79 July-5 (reg op 199.17)
    Kw gen'd 12/15-94 1/16-132 2/16-236 3/16-231 4/16-419 5/16-438 6/16-375 7/16-0
    Save 12k 2016 #59 - 3708.48/3000 || MFiT-T4 #12 - 67000
    • AlexLK
    • By AlexLK 5th Apr 15, 12:32 AM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Thank you, ourcornercottage. My house renovation has been going on for many years. Truth be told my wife and I did enough to move in and put up with it. We end up decorating every spring and if I'm honest with myself the house is not in good shape.

    I "beat myself up" about this and more things because life shouldn't have been like this and it seems as if my wife and son are being punished for what were my mistakes in the past, not theirs.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • AlexLK
    • By AlexLK 7th Apr 15, 2:51 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Pleased to say I spent quite a lot of time yesterday on the windows and now have another installed. This house renovation isn't too bad when the weather is fine.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • edinburgher
    • By edinburgher 7th Apr 15, 3:03 PM
    • 10,593 Posts
    • 54,944 Thanks
    edinburgher
    It would seem that the black dog has been paying you a visit, hope the improved weather has helped him sod off

    Depression aside, I get the impression that you're not big on planning in general? Have you tried to write up a 5 year plan etc.?

    I am not a big one for specific plans either, I just try and do the right thing as much as possible and eventually good things fall into place. But I see a lot of people who are very strong planners/orientated by specific goals on this forum (your Tillys, HDKs etc.) Sometimes I wonder (for myself) if failing to plan is a manifestation of fear of failure.
    • ourcornercottage
    • By ourcornercottage 7th Apr 15, 8:11 PM
    • 1,497 Posts
    • 7,450 Thanks
    ourcornercottage
    I too am not a good planner and we all make mistakes. You should focus on the future not the past it's the only thing you can change :-) it sounds like you do a lot for your family to me :-)
    119,375.00 MFW16 #9 3952.49/6000 Jan-536.60 Feb-610.39 Mar-1006.22 Apr-549.92 May-739.57 Jun-504.79 July-5 (reg op 199.17)
    Kw gen'd 12/15-94 1/16-132 2/16-236 3/16-231 4/16-419 5/16-438 6/16-375 7/16-0
    Save 12k 2016 #59 - 3708.48/3000 || MFiT-T4 #12 - 67000
    • AlexLK
    • By AlexLK 7th Apr 15, 10:05 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    It would seem that the black dog has been paying you a visit, hope the improved weather has helped him sod off

    Depression aside, I get the impression that you're not big on planning in general? Have you tried to write up a 5 year plan etc.?

    I am not a big one for specific plans either, I just try and do the right thing as much as possible and eventually good things fall into place. But I see a lot of people who are very strong planners/orientated by specific goals on this forum (your Tillys, HDKs etc.) Sometimes I wonder (for myself) if failing to plan is a manifestation of fear of failure.
    Originally posted by edinburgher
    The black dog is all too often by my side, though the good weather has really lifted my mood or it could be getting the classic cars out and a really nice weekend with Mrs K.

    As for planning , I don't know what I'm doing tomorrow let alone 5 years down the line! Seriously, what would a 5 year plan look like and is this for finances? My finances are quite complicated as personally I have very, very little as everything is tied up in my business finances because it's tax efficient to do so.

    I've seen Tilly's name but not read her diary, perhaps I should but I've not seen HDK. Any recommendations for diaries are much appreciated.

    I too am not a good planner and we all make mistakes. You should focus on the future not the past it's the only thing you can change :-) it sounds like you do a lot for your family to me :-)
    Originally posted by ourcornercottage
    Some make mistakes bigger than others, mine in the past have been rather terrible. However, you are right it is only the future I can change, sometimes I'm so wrapped up in the past I can't see this. I do my best for my family, haven't always but for the past five years or so I've really come to appreciate how important family is.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • AlexLK
    • By AlexLK 7th Apr 15, 10:17 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Tuesday 7th April, 2015.

    Dear Diary,

    For once, I feel rather bright about my day. No work has been done, unless you count a walk around a couple of antiques shops in the sun? Though I have not managed a No Spend Day, we did not eat at the pub we go to for a car meet this evening, instead we came home to slow cooked stew, prepared this morning. Perhaps, MSE will make a Yorkshireman out of me yet?

    Tomorrow sees both Mrs. K. and I returning to work properly, she's got a long drive to visit an architect, looking forward to hearing all about that in the evening. I have one customer to see who buys things from me fairly regularly, then some music work. This combined should mean a No Spend Day.

    Here's hoping for another bright (and positive) day tomorrow.

    Yours Faithfully,
    Alex.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • edinburgher
    • By edinburgher 8th Apr 15, 7:37 AM
    • 10,593 Posts
    • 54,944 Thanks
    edinburgher
    A five year plan could help with finances, or running a small communist country from your back garden

    I suppose your plan could cover things like your exit strategy for your business, at what points it will be tax opportune to draw money out of it vs. OPing and how many classic cars you fancy balanced against boring stuff like food.

    I don't have a 5 year plan, but I'm pretty good out to 2-3 years.

    I've not seen HDK
    HDK is Helen Dave Kids. Helen is a woman on a mission and has paid off her largest mortgage and halved her weight in a short space of time!
    Last edited by edinburgher; 08-04-2015 at 7:45 AM.
    • AlexLK
    • By AlexLK 8th Apr 15, 1:01 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    A five year plan could help with finances, or running a small communist country from your back garden

    I suppose your plan could cover things like your exit strategy for your business, at what points it will be tax opportune to draw money out of it vs. OPing and how many classic cars you fancy balanced against boring stuff like food.

    I don't have a 5 year plan, but I'm pretty good out to 2-3 years.

    HDK is Helen Dave Kids. Helen is a woman on a mission and has paid off her largest mortgage and halved her weight in a short space of time!
    Originally posted by edinburgher
    You've made me think more about the business and the direction it's going today than I've thought about it since it was started. Unfortunately, I've never really thought about any of this stuff and usually end up buying things because it seems a nice idea to buy / own them. I haven't a clue when it will be tax opportune to draw money out of the business and have not had such a conversation with my accountant, this could be to do with the fact I do not trust myself with money and see it as being "safe" whilst tied up in the business.

    I can't say keeping to a budget is easy for me. When I was at university I managed to spend my way through quite a substantial amount of money with little to see from it and before MSE I think I really did believe it grew on trees.

    My house situation is quite a difficult one as whilst the right thing to do seems to be pay the mortgage off, sell it, move into my parents' house and buy two smaller houses to rent out, my wife would like to keep this house. Therefore, I question whether it is wise to pay off the mortgage at all.

    I'll have a look at these organised diaries and see if any of these planning ideas start to make sense, though somehow I doubt it.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • AlexLK
    • By AlexLK 10th Apr 15, 11:28 PM
    • 5,637 Posts
    • 28,980 Thanks
    AlexLK
    Friday 10th April, 2015.

    Dear Diary,

    Last night was a sleepless one and today has been, for the most part, awful. I often wonder if things will ever get any better, knowing the mistakes I made in the past has had a detrimental effect on both my present and future financial situation.

    Looking on the brighter side, today I spent a bit of time (and money) on the grounds at the front of the house which finally are beginning to look like something resembling a garden.

    Yours Faithfully,
    Alex.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
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