Planning for the next chapter

skye_blue · 2 April 2017 at 9:26PM

hi guys

payday been and gone, just waiting till the mortgage payment has gone out before i can make my overpayment

ive managed to get £300 ready to pay, (2nd month ive managed it) things will be a bit tight for the rest of the month but i want to push myself as ive just started this journey

mortgage now £75,098 how annoying is that 98 but couldnt find anywhere to make it up!!

going to try and find it - thinking of doing a car boot soon - are these allowed on easter sunday? would have the bank hol monday to recover from the early start

keep plodding on everyone

skye_blue · 6 April 2017 at 6:36PM

Hi

Paid my £300 off today thats good but now to start thinking of the next month

I need to find something more in between the month as i feel like im wishing my life away waiting for paydays to come around

does everyone feel like this?

skye_blue · 10 April 2017 at 5:42PM

hi

i asked if car boots were allowed on easter sunday and although no replies i have now asked at our local one and they are doing it and donating half of the fees to the church

just in case anyone was wondering like me

skye_blue · 21 April 2017 at 8:53PM

Well easter was a wash out so didn;t do a car boot planning on sorting the attic and find stuff to sell hopefully May bank holiday weekend

Just spent a couple of hours trying to find car insurance deals

Found one that is £50 cheaper than i expected so thats good, i didn't think i would be overpaying anything with April's wage but Ive got £60 in coins, £12 sitting in paypal so probably pay £100 as well as paying my car insurance in full I think would be a good result

Or do I pay the odd £98 thats so annoying and round down my figures

Have a good weekend guys

allmannerofthings · 22 April 2017 at 6:48AM

Hi Skye Blue

You're doing really well, amazing how you can find a little bit here and there and it all adds up. I'm finding that too.

I'm trying to get my head around doing a boot sale too, I've got a house and loft with far too much stuff in it!

skye_blue · 23 April 2017 at 5:09PM

HI

I think the worst part is getting going so give it a go Allmannerofthings you'll be glad you did

Good news a friend came to help me sort attic for a car boot (hopefully next weekend) and she wanted some of the stuff I was getting rid of and gave me £25.

I did offer to give it to her but she said it defeats the object, she was pleased with her goodies and I made some money that will pay for the stall and give me a head start

Happy days

LadyGnome · 23 April 2017 at 11:49PM

Welcome
I think you are doing the right thing by reducing the mortgage. When you OP then the interest should go down a bit but if you keep paying the same monthly payment as you are now then you are paying down a bit of the capital too. So if you keep your monthly payments constant and have OP some of the capital you are effectively creating a partial repayment mortgage anyway. So even if you can't find an OP one month you would still pay off a bit of the capital because your fixed monthly payment would be greater than the interest charged.

skye_blue · 24 April 2017 at 6:53PM

Hi Ladygnome

thanks for the tip

i did ask them to do this once but was told i couldn't but they did say once that i could only overpay £500 a time but now they can accept lower amounts

i'll ask again

Your totals look great, onwards for us all eh!

skye_blue · 30 April 2017 at 6:59PM

Hi

Got up at 4.00 to do a carboot !!

Ive been putting it off due to the bad weather but it was cold, windy and really really quiet. I only made £37.50 after paying my car fee/ I know its extra but this is the lowest amount ive ever made previously £50's. I planned on doing one at the end of the month but im really not sure now. Luckily a friend had paid me £25 for some stuff last week.

Anyway its in the mortgage pot now

Ive been think i might look for a saturday job he he sound like a teenager!

I really could do with some extra income but working full time already. I do some surveys but it takes a long time.

Enjoy the bank holiday

User1489 · 30 April 2017 at 7:28PM

skye_blue wrote: »

I need to find something more in between the month as i feel like im wishing my life away waiting for paydays to come around. does everyone feel like this?

I used to a lot, and still do at times when I don't have much on. Of course, you have a responsibility to yourself pay the mortgage, but you also have the ability to enjoy life and have good mental health. My MFW journey has had me say "no" to a lot of things. Mainly going out and boozing. I save my pocket money for things that i really want to do.

Skye, do you think you could use a pen and paper or a spreadsheet to work out a longer term plan?

I would suggest either working out if you kept paying £300 a month when your mortgage would be gone by, or choosing a target date for a zero mortgage balance and seeing how much cash you would need to meet that date each month.

How does that look? How does it make you feel? Does it relax you a little or does it trigger some alarm bells? If the latter, can you work out howe much extra you need per month to hit your desired zero balance date?

I believe that once you know this, you can set yourself up with a credible strategy, and then work towards it - and here is the important part - and then the little voice on your shoulder has no right to boss you around any more - you are in control for the long term.

I really hope this helps, and I really hope this relieves some of the weight on your shoulders.

PS - good work on the car boots and idea of job 2 - I had a second job doing bar work for six months, it was great and I achieved some personal/social/cash goals!

Good luck!

MvM x

Planning for the next chapter

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