my non-mortgage mortgage free journey
quintwins
Posts: 5,179 Forumite
I don't really belong here i guess but i know how helpful you all are, and in away i am a mortgage free wanna be, in that i want a house without a mortgage at all!!!
Now just to clarify we want to build so this could be a very long dairy, at the moment we are living in an old farm building and only paying £150 rent, no rates as we're behind family so they pay it (so in a way were sorta living with family in there back garden)
Current aim is £30k in 2 years, given ur income is £24000 including all the benefits we get for the kids ect it's gonna be hard, hubbys doing a few extra jobs on the side which should help- this aim is only to get us a plot, thats the going rate, once we have the cash we will start looking at auctions, we're also hoping to do this before universal credits come in or else we will be over the savings threshold for taxcredits and end up stagnant.
Just for the recorded before anyoen says i have my head in the clouds we are in n.ireland and i can show you many examples of sites around this price that have been for sale for months and months and havent sold, land seems to be alot cheaper in my area.
SOA is next on my list.....
Now just to clarify we want to build so this could be a very long dairy, at the moment we are living in an old farm building and only paying £150 rent, no rates as we're behind family so they pay it (so in a way were sorta living with family in there back garden)
Current aim is £30k in 2 years, given ur income is £24000 including all the benefits we get for the kids ect it's gonna be hard, hubbys doing a few extra jobs on the side which should help- this aim is only to get us a plot, thats the going rate, once we have the cash we will start looking at auctions, we're also hoping to do this before universal credits come in or else we will be over the savings threshold for taxcredits and end up stagnant.
Just for the recorded before anyoen says i have my head in the clouds we are in n.ireland and i can show you many examples of sites around this price that have been for sale for months and months and havent sold, land seems to be alot cheaper in my area.
SOA is next on my list.....
DEC GC £463.67/£450
EF- £110/COLOR]/£1000
EF- £110/COLOR]/£1000
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Comments
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Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 910
Benefits................................ 1098
Other income............................ 0
Total monthly income.................... 2008
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 80
Gas..................................... 0
Oil..................................... 50
Water rates............................. 0
Telephone (land line)................... 45 (this included internet and calls, we don't have much fun things so this is our one vice )
Mobile phone............................ 30 (this will be going come jan as he never uses it, i rarely top mine up and if i do it comes from grocery budget as i normally use the landline)
TV Licence.............................. 0 (don't watch live tv or even have an ariel)
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200 (some months can be alot less and i clearly overbuy as i have 2 full freezers and bursting cupboards)
Clothing................................ 10 (we really don't need any clothes for a long time, we will use money given as gifts to replace whats needed and the kids get a uniform allowance, i prob don't even spend £120 a year)
Petrol/diesel........................... 130
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 4 (this is snack money for school breaks, it compulsury)
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0 (we've bene looking into this and will be getting it soon at a cost of £7 a month)
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 (all gifts are bought for this year next year will have a very small budget)
Haircuts................................ (hubby does his and the kids at home, mine are birthdays and xmas gifts from familya nd trim myself inbetween)
Entertainment........................... 0 (we don't really go out, odd trip to the cinema on a cheapo dela which somes from groceries budget as it only costs £6)
Holiday................................. 0
Emergency fund.......................... 0 (as we have easy access to our savings we can dip in there if we need to)
Total monthly expenses.................. 699
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-
Monthly Budget Summary
Total monthly income.................... 2,008
Expenses (including HP & secured debts). 699
Available for debt repayments........... 1,309
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 1,309
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
DEC GC £463.67/£450
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just a few notes
We don't own our car, hubby works for family and it's a company car, this means we don't pay tax, mot or insurance (they pay mine aswell as it was free to add me)
We live in the country all the desil is school runs and the odd trip to tesco and the park, which should be slightly less in the summer.
Oldest 2 kids are in school, rules are different here so we get free school dinners (if you earn under £17k) and a uniform allowance.
Nursery intake is different here aswell which means my youngest even tho he's 3 in a few weeks won't start nursery until next sep, at which point he should hopefully get free meals but i will need uniform and £2 a week snack money for him.
Kids have enough clothes to last til next summer, and i'm very aware that they have to much anyway as they have uniform 5 days a week, so will just be buying them a few bits, they usually get clothes, jammies and socks for birthdays and xmas so i will wait and see what i need after that.
Next years gift budget will be £500 for everyone and we are hoping to come in way under that.
Savings total stands at £3840.84 with a dd of £190 set up for every mondayDEC GC £463.67/£450
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ok time to crack on plan for today is...
-meal plan for the week
-wash clothes on eco setting and dry on line
-go to the skip (as you can see we don't pay council tax or rates as it's called here that means i have no bin collection, the main house pays full rates and we can pop a few bags in there bin but they refuse to collect 2 bins per house here, really it's a small price to pay for cheap rent as we will be in town atleats twice a week anyway)
meal plan for the week is as follows
breakfasts
mixture of cereal, toast and muffins
lunch
mon-pizza baps for kids, cheese and ham toastie for me
tue-pasta
wed-lo sheperds pie
thur-noodles
fri-spag on toast
sat-sandwichs
sun-lunch at inlaws
dinner
mon- bacon, mash and beans (had bacon out for yesterdays breakfast but we slept in so now it's dinner, a real throw back to the days when it was just me and hubby and no money, better quality bacon tho
tue-chinese
wed- sheperds pie, carrot and parsnip mash
thur- chicken tom pasta bake
fri- sausages chips and beans for kids, fillet steak and beef sausages (both bought reduced and not enough of there own) for me and hubby with chips and peppercorn sauce
sat- inlaws sometimes feed us on a sat aswell if not pizza and garlic bread.
sun-beans on toast or soup and bread, we're always really full after our sunday dinner
- as you can see we like our meat but do stretch it, sausages are always reduced, mince it stretched with veg, and we buy good chicken breasts with no added water that are massive which means 2 does all 5 of us.
snacks are from af or on offer.
I buy alot of fruit but i don't need any tis week, i have lots of oranges and apples i got reduced while playing taxi to my mum last week, and i got 2 melons for £2 from lidls offers last week i make them have some fruit at breakfast and lunch the rest of teh tim ethey help themselves, all our veg is usually frozen except cabbage and carrots (which are bought sliced then frozen)DEC GC £463.67/£450
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forgot to mention it's also the first day of summer hols, so 2 more mouths to feed to lunch but £4 more to spend ( really they get yogurts, pancakes, milk, and a peice of fruit i could do just as well myself of half the money)
oh and i found 30p in the washing :j
Hubbys off for 2 weeks as of next monday, plus the weekend so will be paid 2 weeks pay up front on friday plus my dd will bring me over the £4k mark (been abit stuck lately think once i get over the £4k mark i'll get better i'm sur ethat tv didn't help ), i'm keeping £100 back for the 2 weeks he's off incase we want to go anywhere or need extra bits for a picnic of food out, will try not to spend it.
Have 3/4 of a tank of fuel should do us atleast 2 weeks (unless he ends up giving his parents a lift to the airport if that happens they will give us fuel money)
Rents due on the 14th so i have it in cash waiting.
spends so far for july £0 :j
Ok so hubby walked to work today to save on desil but our dog just got hold of an old bird i couldn't sort it myself i was acually near sick just at the thought so i had to drive get him and back and him back to work so acually a double journey instead of only my wee trip to the skip , it's worth it to stop me getting in a tiss i can't cope with things like that at all.DEC GC £463.67/£450
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I like the sound of your meals, Im coming being fed by you
I should join you over here0 -
Hiddenidenity wrote: »I like the sound of your meals, Im coming being fed by you
I should join you over here
yes you should and thank you very much it was yummy mince out defrosting for tomorrow
well today was a nsd, did everything on my list and found 3 loaves of bread in the freezer so only need milk this weekDEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
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Hiddenidenity wrote: »I should come be fed??
Im on my way :rotfl:DEC GC £463.67/£450
EF- £110/COLOR]/£10000 -
Hi Quintwins, welcome to the mfw boards, we come in all shapes and sizes, most paying off a mortgage but some saving for one or towards renovations or hoping to build up some equity to move. Building you own place sounds so exciting, best of luck!2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.120
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Hi Quintwins, welcome to the mfw boards, we come in all shapes and sizes, most paying off a mortgage but some saving for one or towards renovations or hoping to build up some equity to move. Building you own place sounds so exciting, best of luck!
thank you very much it's exciting and scary all at once, but it will be our house, a nice new house that will be perfect for us and not how someone else thinks our house should be. Also with the price of land here it's cheaper than buying a similar sized house and thats before you take mortgage interest into account, We're very lucky that as a couple we both have the same views and are willing to compromise.DEC GC £463.67/£450
EF- £110/COLOR]/£10000
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