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  • FIRST POST
    • Retro.Monkey90
    • By Retro.Monkey90 15th Nov 16, 12:20 PM
    • 69Posts
    • 219Thanks
    Retro.Monkey90
    Little by little....to be MF
    • #1
    • 15th Nov 16, 12:20 PM
    Little by little....to be MF 15th Nov 16 at 12:20 PM
    So I have been lurking for about a year now and I feel like it's time to start my own diary on my journey to being MF! I'm also seeing it as another step of encouraging progress that keeps me motivated and eager to be frugal.

    Our mortgage is at the moment a touch under £128k and it was £134k when we bought our new build house in 2014. We are on the Scottish Help to Buy scheme, therefore our equity is 80% of the value of our house, which is currently £190k (just to put it into perspective). BF and I bought the house as first time buyers, so we are determined to start making a dent in the mortgage as soon as possible. Our OPs at the moment are a meager £75 as a SO, but this is already cutting 4 years and 8 months off the term! So original date was September 2044 and now we are on January 2040.

    BF and I are both on average salaries and are doing everything we can at the moment to cut back as a series of unfortunate events has forced us to be uber-frugal. However, I intend on keeping it going and doing more to save so that we can throw everything (within reason) at the mortgage. Also planning a few big purchases this year and next which we need to save and budget for.

    As this is my first post, I'm not sure what else to say other than any help or suggestions would be grand! Also hope this diary will not bore you all to death
Page 1
    • Retro.Monkey90
    • By Retro.Monkey90 15th Nov 16, 1:52 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    • #2
    • 15th Nov 16, 1:52 PM
    • #2
    • 15th Nov 16, 1:52 PM
    92p TT today which makes the pot £7.18 so far for a bonus OP. Started this month with accumulating TT and cashback from our 123 account into a seperate saver to make a bonus payment each month. Even £10 makes 6 months difference! Just got to keep at it
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
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    • juststuff123
    • By juststuff123 15th Nov 16, 2:30 PM
    • 197 Posts
    • 553 Thanks
    juststuff123
    • #3
    • 15th Nov 16, 2:30 PM
    • #3
    • 15th Nov 16, 2:30 PM
    Good Luck!


    A lot of people like to have mini goals to keep the motivation up. 10yrs can be a long slog if you don't have a few mini-celebrations along the way!
    NEW GOAL – Mortgage Balance £0k & £30k Savings by Feb 2019
    MORTGAGE: – £33406 / £0
    SAVINGS: – £49062 / £30000
    CREDIT CARD: – £2118 / £0

    COMPLETE - MFW & DFW - Goal - Debt Neutral – COMPLETE
    • Retro.Monkey90
    • By Retro.Monkey90 15th Nov 16, 2:57 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    • #4
    • 15th Nov 16, 2:57 PM
    • #4
    • 15th Nov 16, 2:57 PM
    Hi juststuff, thanks for popping in!

    Mini-targets are my next task - not sure at the moment which way to go. Suggestions are welcome!

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 16th Nov 16, 10:01 AM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    • #5
    • 16th Nov 16, 10:01 AM
    • #5
    • 16th Nov 16, 10:01 AM
    So day 2 of this diary and handily swiped £30 from an energy switch to the mortgage pot! Even more handily it was for a switch that was so marginally more expensive we got money for old rope essentially

    £1 TT as we have a nice rounded balance.

    Still need to come up with some mini goals and aims, but this week might be busy with business trips so might be one for next week!

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • lippy1923
    • By lippy1923 16th Nov 16, 1:02 PM
    • 1,231 Posts
    • 3,430 Thanks
    lippy1923
    • #6
    • 16th Nov 16, 1:02 PM
    • #6
    • 16th Nov 16, 1:02 PM
    I love a new shiny diary. Good luck with your mission. Keep posting regularly. I find it so motivating posting and reading other people's posts.
    Total Mortgage OP £17,500
    House Value £250,000 Mortgage £92,730
    Emergency Fund £27,400

    • Retro.Monkey90
    • By Retro.Monkey90 16th Nov 16, 3:26 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    • #7
    • 16th Nov 16, 3:26 PM
    • #7
    • 16th Nov 16, 3:26 PM
    Thanks Lippy that's the main reason why I have decided to start my own diary. So hopefully I can hold myself accountable and keep up the payments and being frugal! The support from others is also an added bonus
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • SueP19
    • By SueP19 16th Nov 16, 3:38 PM
    • 1,703 Posts
    • 14,484 Thanks
    SueP19
    • #8
    • 16th Nov 16, 3:38 PM
    • #8
    • 16th Nov 16, 3:38 PM
    and welcome to the best board


    There are lots you can do to generate extra, do you have a craft that you can sell (don't forget self employment registration) Sell old stuff on Fleabay, carboot, meal plan, cashback sites, as well as looking closely at your budget
    Mort Oct 15 £70,353 £66,422 MF Dec 31 Jun 31(191 176 mnths)
    EF 2016 £700/£1,000 Debt May 09 £30,217Oct 17 £14,093[/B]
    • Retro.Monkey90
    • By Retro.Monkey90 18th Nov 16, 10:12 AM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    • #9
    • 18th Nov 16, 10:12 AM
    • #9
    • 18th Nov 16, 10:12 AM
    Hi SueP thanks for stopping by! Already on the cashback. Actually we calculated that we have saved/made almost £1,500 from Topcashback, Quidco and our 123 current account which roughly equates to one months salary! Incredible. Can you suggest any good challenges on the boards for newbies like me? I'm struggling to get mini goals so a challenge would be good!

    I'm on survey sites, however I use the vouchers I earn for presents or to buy specific things I want but don't have money for e.g. iPad (one day - still saving up!)

    Otherwise, our budget is quite strict, there is very little we can cut back on utilities and bills-wise. Our only downfall is our groceries, random spending (usually on the house stuff like decorations) and buying lunches. All other spending is accounted for. I might post my SOA a bit later on so everyone can comment on it!

    TT a whole £1 the last two days as we don't have any DD towards the end of the month, and 82p today meaning our total bonues OP pot is standing at £40! Does it make me a bit sad that my TT pot is a round number?!

    Have a good weekend everybody
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 24th Nov 16, 12:03 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    Not been great on the posting front these days! Long trips with work and preparation for my niece's birthday has got me all tied up! Steadily been TT and so far have £41.86 for a bonus OP which I don't think is too bad considering I thought we were in dire straits not so long ago.

    Good news following some of our recent unfortunate events, as we have been informed that the other party involved in our accident has admitted liability so only another 5-7 weeks to wait for our £500 excess to be returned

    Honestly sometimes I feel like I have it all on track and everything is looking up, and then things don't turn out as you want/planned and it makes you feel like packing it in!! but now it is slowly (very slowly) turning around. Must be positive about these little things I suppose.

    Onwards and upwards from here hopefully
    Retro x
    Save
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 25th Nov 16, 2:53 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    A whole £1 TT today! Swiped this over to the new Tesco account I opened for TT to hopefully get a little bit extra in the form of interest. Feeling a bit tight as I have paid all my bills (personal and money to joint account) with my pay for December and I only have £18 to last me till Christmas! So have to be extra frugal and will no doubt have to use the new Amex CC for pressies. But to be fair we have agreed with family a £20 budget per person this year which actually everyone was grateful for, so hopefully it won't be too eye watering this year.

    My task for the rest of today is to find some mini-goals and figures to post next week so I can start benchmarking my progress. The idea is to use this as motivation as per suggestions, so I need to be realistic but also ambitious at the same time

    Hope you all have a good weekend
    Retro x
    Save
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 1st Dec 16, 12:05 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    Afternoon everybody,

    So managed bonus OP #1 today of a meaty £46.38! May seem small to some people but it is more than half of our usual £75 regular OP.

    Been ill so I haven't been doing TT everyday but still managed 66p today. Also getting refunded all our money for the excess from our accident has really helped and we are back in the black! We also are back to having savings....what a difference a month can make and some frugal living. Hopefully with Christmas coming up we won't slip from our budget but still have a good time.

    Have a great day!
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 2nd Dec 16, 3:28 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    £1 TT today - although I was tempted to TT £2 as we have a nice round even balance !

    Not sure if I had mentioned I initiated a switch from my bank to Halifax Rewards and already have my £100 (had it 3 days ago, very speedy!) and just received my card etc today. Just to wait for RBS to let me go - not that they ever did anything for me. Apart from give me an interest free overdraft for an excessive amount of time after graduating

    Slowly organising our accommodation and car rental for our trip to the US next year. All purchased on our shiny new Amex which we have accumulated almost £100 in cashbck already mostly due to the extra 3% for Amazon purchases which is fab!

    Bit of a longer post but I have some initial mini goals to post shortly!
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 2nd Dec 16, 3:34 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    2017 Mini Goals
    • TT at least £20 a month
    • Bonus OPs of £1000 for the year - including £240 of TT requiring an extra £760 or £63.33 a month
    • Bring down daily interest - can't work it out just now but we are on £9.93 and it reduces by 2/3p each month with our regular £75 OP
    • Reduce grocery spending & general spending
    It's not much but the bonus OP is the big one as it is almost the same amount as we regularly OP. I know if we are frugal enough we could probably double this but need to cut spending hence another goal is reduce spending and get more control on groceries .


    I suppose if you start small you can only improve and it is all a bonus in the end!


    Have a good weekend all

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • newgirly
    • By newgirly 3rd Dec 16, 7:37 AM
    • 5,857 Posts
    • 40,009 Thanks
    newgirly
    Hi retro monkey, it's good to see new diaries popping up you are doing really well, it's not always easy as the end date seems such a long way away, you are doing it the right way by making lots of little and often efforts towards op's. Also setting mini challenges for yourself is a good way of keeping motivated on such a long journey.

    When I started posting we owed over £170k, I was a sahm with three kids and not a lot of money, many months it was a struggle to get through to the next pay day, those little 10p a day op's I insisted on making made kept me (and the mf diary) going. Some months are easier than others, but the main thing is to keep going, you will get there in the end

    Best of luck.
    MFW 21
    Target for 2017 £38,545 / £17,514.78 paid so far

    Mortgage £47,354 years 8 months left. Total owed £62,871.22 planning to clear in 18 months
    Weight loss target 37lb/22lb gone.
    • Retro.Monkey90
    • By Retro.Monkey90 7th Dec 16, 10:58 AM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    Hi Newgirly thanks for stopping by! Definately when we don't have much for OPs compared to some, the TTs add up and make me feel like I am doing something more even when we don't feel like it makes much of a difference to our balance.

    TT pot at £3.97 so far and we are on track with spending for Christmas. Almost have everybody's presents sorted, and still have some money saved up. Still have groceries to buy but will try to do minimal shopping this week to save for the Christmas indulgence.

    Our USA trip is coming together nicely with more than £100 on cashback already on the Amex! Naturally have topcashback bursting at the seams also, so possibly get a payout before we go which would be nice

    And I'm getting someone at work to wash my car as the work van needs cleaning so saved £5 on the car wash! Unfortunately don't have a massive driveway so can't really wash them at home.
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 8th Dec 16, 3:57 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    Only TT 55p today, I got used to TT £1 at the end of the month when all our direct debits have finished! Sad or what?! Managed to avoid the shops last week and did a wee shop yesterday and a Dine in for Two (treat) for our weekly budget, so hopefully the cc will be lower for December. Really trying to just buy fresh fruit and veg so we can use the stuff in our freezer to avoid big shops. Also helps BF not coming along as I don't buy as much!

    All plans may become unfoiled as BF is looking at new cars which could mean extra monthly expedinture over and above what we budgeted for loans etc. We both love our cars and the car he is looking at is awesome, but I cannot stop thinking about the ££ he/we will spend on it for fuel etc. He already has the loan money for it so we can go for when the right one comes along (very long list of specs makes it difficult to find 'the one'). Of course the money is in our 123 and tesco account getting interest, and is on a very low interest rate as it is so there isn't really much of an impact initially. Just need to make sure it all fits in within our MF budget and OP plans.
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
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    • Retro.Monkey90
    • By Retro.Monkey90 19th Dec 16, 4:07 PM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    Diary has been neglected slightly over the last couple of weeks in preparation for Christmas and various site visits for work. Still been TT and so have £12.56 with a boost of £2.86 interest! Such a meager amount but it all adds up.

    We are still on budget with our Christmas presents, although we have had a take out and bought some booze for the crimbo party at work! All in all it was still within budget for the weekly shop (just booze no food ) so if we can bring our Christmas shop to within double a weekly shop (don't intend on shopping over new year) we should be ok! Just the enormous credit card bill to pay on Christmas Eve which would mean our holiday next year is completely paid off already.

    BF did buy the car, and with the payments being lower than his previous car it is just the increase in expenses that we will have to cope with which isn't much to be fair.

    I think considering when I started this diary last month I didn't think we would achieve all this and still be able to make a very, very modest bonus OP AND buy presents and food, it hasn't been too bad. Hopefully with more determination and strict grocery budgets we should be able to do more in 2017
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 4th Jan 17, 10:43 AM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    Well had a busy Christmas and New Year - hope everyone had a great time! Hence no posting, and sadly totally forgot to TT some days as I was just basically between cheese boards all holidays

    Did manage to send the bonus OP of a massive £16.05! Oh dear, but still every little helps, as it has paid almost 2 days interest so the bank loses out on that one!

    Managed to keep spending low-ish and the budget setting we did with everyone for Christmas presents was greatly received by all and we all had a fab time.

    Looking forward to 2017 I think I will have to adjust my long/medium term goals, and set a realistic MF date. Short term-wise I think we are doing OK and with money all back from the insurance this month, we should be back on track. My DM and DF are looking at their future as well as they are both 61 and need to look at investments for their retirement, so 2017 is looking like it might involve a lot of change and hard work. Never a challenge with us, as we always get stuck in.

    Catching up on diaries, and looks like everyone is really looking forward to starting fresh and making the most of the new year!
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • Retro.Monkey90
    • By Retro.Monkey90 11th Jan 17, 9:24 AM
    • 69 Posts
    • 219 Thanks
    Retro.Monkey90
    What a start to the day! Major bridge is shut so took 3 times longer to get into work

    Well TT £1 today love when no dd come out! So total for the month so far is £5.92 which means I won't reach my goal again. Might have to re-adjust it if I am always falling short...

    Mortgage is sitting under £127,500 so hopfully we can bring it under £127k very soon!

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
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