Mortgage free & able to live the dream!

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  • SWSEGirl
    SWSEGirl Posts: 162
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    So my second day back at work in my new job, and all going relatively well so far. Happily I brought in lunch - so I'm hoping that today will be an NSD.

    I ran through my finances on my new salary and have set myself some new targets.
    With my increase (only on increased salary until May 18th) - I am aiming to put £1000 towards savings, and my husband plans to add the same. That's a target of £2000 a month, half of which we will put towards the mortgage OP (we are limited to a maximum of £1000 pm), and half into our regular saver.

    We could both potentially get a bonus in March/ April - although this isn't guaranteed. I hope we have the willpower to channel this into savings too if we're lucky enough to get it.

    The other factor that will change things a bit, is that I am due to be away for a month between March/ April for work. This means that during this time all my living expenses will be covered and I want to try and channel an extra £600 into my savings during this time as well.

    When I return I'm planning to have a proper think about work and what I want to do next - the increase in pay up until May will make such a difference to our savings, and I'd love to be able to continue being able to save like this, our earning potential won't be like this for ever after all!
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
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    ....It's a double post kind of day!

    Acheived my NSD, so feeling pleased with myself.....

    But now aimlessly browsing the January sales online :( posting here to demotivate myself. :o
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
    Forumite
    Lying in bed, enjoying the warm & reluctant to drag myself out at the moment....

    Need to do an exercise video at some point - a cliched New Year's resolution is to eat better & do some form of physical activity- but my motivation is lacking :o I'm tempted to join the gym next to work & go at lunch times, although I know the gym isn't very MSE - thr payment does help motivate me.

    In other news - had brunch with a friend yesterday with 50% off - followed by drinks. I'm doing dry January, but did buy her a couple of glasses of wine.

    Then last night DH & I watched The Big Short - I was a bit reluctant - but it was great, really fascinating & terrifying to see how yhe 2008 crash happened. It makes me a bit apprehensive about our own mortgage, but its a good incentive for paying it off quicker!
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
    Forumite
    Happy Monday!

    Looking at the week ahead, I'm hoping I should be able to achieve at least a couple of NSD's.

    It's 15 days until payday & I need to rein in spending to stay out of my overdraft. I've worked out I've got around £12 to spend a day to keep within my limit, so this should be do-able - I never seem to be able to stick to this though, so we'll see.

    I'm not sure if I mentioned further up thread that Student Finance started taking deductions again from my salary :( - I knew I still owed £171, because despite being told I'd finished payments, the information provided by HMRC come September showed I did still owe this small amount.

    Of course, they actually deducted £300 from my salary which was more than I owed - when I phoned them they told me it would take 28 days to stop any further deductions, so I'll also have £350 taken this month. I now have to send in a letter with my payslips as evidence to show I am owed the money back. The person I spoke to on the phone said they would 'consider a refund'!!! This made me pretty mad, since I will have overpaid £680 by then. Ah well, I'll have to put this money straight in savings when it arrives.

    I will be thrilled when I never have to deal with Student Finance again.
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
    Forumite
    Lunch brought in - so hoping for an NSD today.

    Credit card payment came out today - so balance now sitting at £1828 - it feels good to have it below the £2k mark! Still at 0% until September - but with my temporary pay increase I'm upping the repayments to clear it ahead of time. It will feel great to be debt free (aside from the mortgage).

    I've just paid for travel to go skiing in March - it was pretty expensive (£360 for 2 of us) - but we don't have to pay for accommodation when we're there, so feels more justifiable. I'm struggling a bit with the spending mentality - I am so keen to save, that even booking a break feels unnecessary & indulgent, but I don't want to miss these opportunities whilst we are still relatively responsibility free!

    Not much else to report - 2 weeks until payday - so trying to stay frugal until then.
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • Tradcob
    Tradcob Posts: 102 Forumite
    Hi SWSEGirl,
    Just catching up with your diary, thanks for posting about your student loan situation, something that i will look out for when the time comes for me. Well done on the promotion and dont be too hard on yourself about breaks, you're saving a fantastic amount, you deserve the odd treat too! :)
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
    Forumite
    Hi Tradcob!

    Thank you for dropping by, I've been following your diary - sounds like we share a love of fish finger butties :T

    The student loan issue is really annoying - so many people must be caught out & pay over the odds. My advice is switch to a direct debit the final year of repayments & carefully work out what you owe. I did do this, however, none of the figures from HMRC, SLC or my own workings match!! :mad: It has driven me to insanity. I'm just grateful to know it will all be done soon.

    In other news, I didn't have leftovers as such to bring for lunch today (fish fingers for dinner!) But we had ham in the fridge & I hard boiled an egg - so sure I can cobble something together out of this & have an NSD.

    As mentioned yesterday I paid for our holiday - but am finding it a bit frustrating that transactions seem to take so long to show on my FD account - so I'm never quite sure where I am. Ah well - I'll just have to be more organised as a result!
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
    Forumite
    Some musings from my epic commute....

    I've obviously thought a lot about how I'm going to maximise savings on my temporary increase, but I've also started to think of ways I can invest to make life easier when my pay drops again come May. Here are a couple of thoughts - any other suggestions very welcome!

    * Buy a supermarket delivery smart pass - we tend to spend a lot less when we do a big online shop (we don't have a car) - and this would encourage me to meal plan & fewer impulse expensive shops. Online shopping also makes my life so much easier!

    * Clear credit card (£1828 remaining). If I can clear this it will be akin to £200 extra in my purse each month.

    This is as far as I've got! Must think of some more....
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
  • Just a quick note to say that I'm so glad John Lewis reissued your vouchers! I was pure gutted for you. Yay for good customer service.

    p.s. we do Tesc0 delivery saver and it works really well. We don't have a car either and I find online shopping really reduces the temptation to buy extras, mainly because you don't see them! I'm not sure if its different in London, but I only do midweek deliveries and it only costs me £3.49 a month.
    #112 Save 12k in 2018: 5000/6000
    #35 Save 12k in 2019: 4985.28/7000
    #32 Save 12k in 2020: 13282.17/12000
    #60 Save 12k in 2021: 0/13000
  • SWSEGirl
    SWSEGirl Posts: 162
    First Anniversary Name Dropper Combo Breaker First Post
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    Thanks so much little.squirrel! It was such a relief, I can't tell you! :T

    And thank you for your tip regarding your delivery pass - I'm going to do some research today.

    Another silly thing I must do is invest in more tupperware so I can take my leftovers in - my flat seems to eat tupperware :o

    In other news - I'm thrilled it's Friday! I've got no plans tonight (which is fine by me) then I'm seeing my best friends for lunch tomorrow. I also want to schedule a trip to Aldi, so I can get on with some batch cooking for next week.

    Im still deliberatingon whether to get a cleaner....our flat is a bit of a state at the moment & I know we can afford it, but I'm struggling to justify the cost when I'm being so mindful of spending in other areas...I'll stew on this some more!

    Happy friday all! :beer:
    Original Mortgage as of September 2016 = £322,999 :eek: Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Current Mortgage Balance as of May 2020 = £276,364
    Current Mortgage Balance October 2020 = £262,480
    Current Mortgage Balance December 2020 = £250,852
    Current Mortgage Balance January 2021 = £248,219
    Current Mortgage Balance February 2021 = £246,000
    Current Mortgage Balance March 2021 = £243,434
    Emergency Savings = £40,000
    S&S ISA's = £5,536
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