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  • FIRST POST
    • AlexLK
    • By AlexLK 8th Mar 15, 11:07 PM
    • 5,698Posts
    • 29,377Thanks
    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.
    Money saved 2017: £3330. 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 157
    • kelpie35
    • By kelpie35 22nd Jul 17, 11:29 PM
    • 1,442 Posts
    • 4,511 Thanks
    kelpie35
    Alex, thank you for your update.

    You are doing so well and what comes through is your positive attitude, well done.

    I hope you, your wife and son have a lovely summer.

    Take care.
    • AlexLK
    • By AlexLK 26th Jul 17, 1:42 PM
    • 5,698 Posts
    • 29,377 Thanks
    AlexLK
    Thank you, Kelpie.

    The weather is awful today so I'm trying to get organised. I do want to keep updating the diary as it does help me to focus. Past couple of days have been difficult to stay positive and keep the bedtime routine but I've done it. My parents are really struggling at the moment. Father isn't too well and mother has become very agitated about his future.

    Lots of MSE things I wish to get done over summer. Also need to make my mind up how I'm going to pay for my course. My parents are happy to pay but I think it is time they stop funding my education. I'm considering getting back into a little antiques dealing as that would fit nicely around what I'm doing school / property wise as well as keep me in touch with values etc. However, this time I don't want to borrow from the property business for capital as I have a couple of watches which I haven't worn in many years which would raise c.£20,000. If I don't make anything in a year, just under half the money raised will pay for the course and I'll put the rest towards the mortgage.
    Money saved 2017: £3330. 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.
    • themadvix
    • By themadvix 27th Jul 17, 10:40 AM
    • 901 Posts
    • 4,397 Thanks
    themadvix
    Sounds like a great idea to sell the watches to fund the course Alex. Hope things improve with your parents soon - remember to remove yourself from their company if needed!
    OPs 2017 = £2603/£10000
    S&S ISA = £300/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • AlexLK
    • By AlexLK 27th Jul 17, 10:43 AM
    • 5,698 Posts
    • 29,377 Thanks
    AlexLK
    July Targets:

    Organise Summer holiday: 1. Trip to R.W. 2. Holiday. 3. Agricultural shows x 3. Not really done or planned anything else for this summer at the moment.
    Debts: Pay £1,000 (/ £4,000 to pay) Paid.
    Total Grocery Spend: £310 / £400.
    New bedtime routine: 25/31. Only two "late" nights and they weren't late by my standards.
    Meditation: 14/21.
    Keeping organised: Struggling with this somewhat.
    Spreadsheets / Money tracking: Need to update this, although July hasn't been a great month (lots of expenses). Still need to update, still avoiding.

    De-clutter and Sell: / 3 items. One item for sale. Think this is going to need to be my main target for August.
    Books read for pleasure: 2 / 3.
    Prep tasks for course: 2 / 4. 2 will be carried over into August.
    Learn something new or refine a skill: 1. Continue learning and applying new knowledge to create more sophisticated and streamlined spreadsheets. 2. Learn a new piece of repertoire.
    Money saved 2017: £3330. 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 27th Jul 17, 10:44 AM
    • 5,698 Posts
    • 29,377 Thanks
    AlexLK
    Sounds like a great idea to sell the watches to fund the course Alex. Hope things improve with your parents soon - remember to remove yourself from their company if needed!
    Originally posted by themadvix
    Well, I hoping profits from selling other things will fund but if not it's not the end of the world.

    My parents are really struggling at the moment.
    Money saved 2017: £3330. 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.
    • Suffolk lass
    • By Suffolk lass 27th Jul 17, 7:25 PM
    • 1,358 Posts
    • 16,128 Thanks
    Suffolk lass
    Come on Alex, get that spreadsheet reviewed by close on Monday, ready for the new month! End of nag... Have a great holiday, whatever you do. We are off on our road-trip on Monday. I can't wait!
    MFiT T4 #2 update 25.95% after Q5
    Save £12k in 2017 #64 - £5617.21/£5500 (51.64%/50%) after June - my annual target is £11,000 (Save £12k in 2016 thread £10,488.04/£10,000)
    OS Grocery Challenge 2017 budget of £3,600 £3000 (reduced from Apr) - 50.68/50% including stores after June
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