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  • FIRST POST
    • newgirly
    • By newgirly 15th Apr 10, 11:02 PM
    • 5,894Posts
    • 40,614Thanks
    newgirly
    Pay off mortgage and start having fun!
    • #1
    • 15th Apr 10, 11:02 PM
    Pay off mortgage and start having fun! 15th Apr 10 at 11:02 PM
    I have been reading other peoples posts for a while,trying to get myself in the right frame of mind to start overpaying on the mortage.DH and I have a house worth about £220,000 with a mortgage of £159,000 although we only paid £120,000 for it (£93,000 mortgage) to start. So as you can see we have been not so great in the past! Last year we also owed about £20,000 on credit cards which is now down to £10,000. I really want to get rid of the mortgage before our youngest turn 18, the twins are nearly 10 now. So any words of encouragement would be great, I need keeping on the straight and narrow.

    Xmas paid for by saving £1 a day minimum in a sealed tin, plus homemade/sale stuff.
    Birthdays now in monthly budget, plus extra vouchers earned

    I am taking part in the earn £2012 in 2012 challenge on the up your income board, so whatever earned from that will be split between op's and holidays fingers crossed.

    Budget from may 2012 onwards:

    income.................2092.00
    child benefit..........188.60
    child tax cr..............0 no longer!
    total....................£2280.60

    mobiles x 2...........32.00
    tv licence..............12.37
    elec/gas................140.00
    water....................60.00
    council tax............125.83
    home insurance.......11.83
    pension..................21.90
    life ins....................15.17
    sky ........................21.00
    car tax....................15.83
    car ins.....................22.00
    car maintenance.........8.33
    petrol.......................60.00

    school dinners............48.00 (1 dinner/1 bacon sarnie each pw)
    pocket money.............20.00
    clothes.......................30.00
    birthdays....................50.00

    grocery.......................250.00
    (food/pets/cleaning)
    DH's money.................100.00
    0%cc ................................32.35
    mortgage interest.........425.00
    mortage overpayment....778.39


    money in: £2280.60
    money out:£2280.60







    This Forum Tip was included in MoneySavingExpert's weekly email

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    Last edited by newgirly; 16-03-2012 at 12:47 PM.
Page 340
    • greent
    • By greent 23rd Sep 17, 4:11 PM
    • 6,506 Posts
    • 65,664 Thanks
    greent
    Have a fab trip, ng xx
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next: BTL Mtge 12/16 £69786. 2017 OPs (#18) £5278/£3286
    Net sales 2017 £1259.72/£500 PAYDOX17 £12239/£10k Decluttered 1870/2017 items
    • newgirly
    • By newgirly 25th Sep 17, 8:06 PM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Back from Italy and it was great beautiful enormous five star hotel in an opulent but slightly faded style. We spent an afternoon in Florence which is no time to visit anything due to the queues but was stunning and I want to go back soon to do it fully. Half a day in Pisa and the rest of the time eating and drinking in great company

    Spending was under £500 not sure exact figure yet, but less than the budget
    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.
    • AlexLK
    • By AlexLK 25th Sep 17, 10:08 PM
    • 5,830 Posts
    • 30,378 Thanks
    AlexLK
    Italy is wonderful, NG. Glad you had a good time.
    Saved £11,000 in 2015, £9,800 in 2016.
    From a £32,000 debt on 2/9/2013 to debt free on 12/1/2015.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 25th Sep 17, 10:59 PM
    • 641 Posts
    • 2,526 Thanks
    wishingthemortgaheaway
    So pleased you had a great time.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • newgirly
    • By newgirly 28th Sep 17, 7:52 AM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    It's been an uneventful week so far, yesterday cleaning out the kitchen cupboards and getting rid of food from around 1978 should make it easier for meal planning and being generally more organised. Then a late trip to the cinema to try and stay awake through young Frankenstein (not my cup of tea at all!) but my good deed of the week as ds2 likes it and wanted to see it on the big screen.

    Dh has been invited to a 50th Boys weekend away, we were hoping it would fall after our boys' 18ths next year as they want to go too (it's the guys from work plus my little brother going) but they want to book it for June dh is hoping that will consider the last week of july so they can go to and will be 18.

    It would do us a favour as they are still having none of this awful "family holiday" malarkey fingers crossed everyone can make it then , otherwise he will be going away twice he will be shutting the factory for two days as well as everyone will be away except me and the part time elderly office lady.

    Need to get up now as I am off to the shops with my best friend to look at clothes I will be buying to wear at Xmas when I am at goal weight

    So behind with diaries, I will have a good catch up later, hope everyone is well
    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.
    • CathT
    • By CathT 29th Sep 17, 10:40 AM
    • 5,379 Posts
    • 37,018 Thanks
    CathT
    Glad you had a good break away in Italy. I'd like to go soon with the children but not be limited to one location. I've started another fitness regime and looking forward to feeling better in my clothes, enjoy your shopping trip.
    Dec 2017 -
    part 1 - £79,783
    part 2 - £45,999
    Total - £125,782
    • newgirly
    • By newgirly 29th Sep 17, 4:39 PM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Hi cath, good luck with the fitness regime, I'm struggling to follow weightwatchers after all that lovely pizza

    The boys weekend is sorted, they are all going the weekend after the boys 18th a few will go to the Grand Prix as well as its the same weekend so it's worked out well.

    I need to re jig the savings plan now, I won't bother with the family holiday saving as they really won't go, and instead save to cover the boys weekend and perhaps a trip for dd and I at the same time.

    It's not what I had imagined but as long as they are all happy it doesn't matter really, it should be cheaper too

    It's takeaway curry night here tonight's the with my parents as it was mums birthday, that will be a fair few ££ but I've made a roast cauliflower curry for me that's 0 points on WW - plenty of points left for wine still
    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.
    • newgirly
    • By newgirly 3rd Oct 17, 7:01 AM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Not much of a mortgage free diary at the moment this! The pot has already been dipped in to to pay for the boys' and dh's trip next year and now we are having a matching girls trip the same time dd , Mum, Aunt and I are going on a two night mini cruise and having a night in a nice hotel first. We did consider a few days in Italy but we wanted a more relaxed break to spend time together rather than sightseeing.

    It's going to make a temporary large dent in the mortgage , but should actually even out over the term as I had budgetted for paying for a boys weekend for dh and a family holiday next year which we now won't need to pay for. We should still be looking at an April 2019 finish fingers crossed, although my hope to get under 40k by the end of this year may now not happen.

    It's getting cold here, dh asked if the heating was on last night , on the 2nd of October ? I think not, if there's no snow and it's not Xmas day it need not be on ( he knows I am joking ) it I should getting harder to get up for work early though
    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.
    • newgirly
    • By newgirly 3rd Oct 17, 10:51 PM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Mini cruise booked and it was over £50 cheaper pp than yesterday I may have felt obliged to upgrade to a bigger cabin with champagne and other bits and bobs, it's still the same price as we would have paid yesterday, and it is dds 21st , that's my excuse and I'm sticking to it!

    Deposit is paid and I will start chipping away at it on a weekly or monthly basis if the budget allows, always good to have a challenge.
    Talking of which I'm overdue updating the monthly figures and setting an end of year challenge.

    So this October to December there will be a lot of social spending going on (for a change ) so it's going to be a food /petrol challenge of £1500 until Jan 1st, if I wasn't so lazy I would scroll back to see what challenge I usually do at this time of year, but I am too lazy
    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.
    • Moneyfordreams
    • By Moneyfordreams 6th Oct 17, 11:48 AM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Newgirly I'm amazed your pace is always 100 miles per hour. Your juggling is phenomenal ... glad to hear you had a good time in Italy.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • newgirly
    • By newgirly 6th Oct 17, 1:02 PM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Cheers mfd's how was the holiday? I'll pop in to your diary where I hope you will post an update

    I've had a seriously lazy morning , drinking hot chocolate (low calorie of course! Zero weight loss this week boo!) and trying to manipulate our finances to pay for all the trips we have booked whilst still clearing the mortgage by the same end month. Probably impossible. In usual style I prefer so set an unrealistic budget and go over it

    Living monthly budget now slashed from £800pm to £700, plus reduced ops for sept /October. Dh and the boys' trip is paid for and I've transferred £500 spending money to him -at 94p a pint of beer hopefully they won't need much
    The cruise is budgetted for but not the spending money which I'll allow about £300 for, i'll save up in a jar for that after Xmas, just over £10 a week should be enough.

    This year's oct-Dec challenge should have started , but as the cc can't be used until tomorrow I will start it a bit late.

    We had some good news this week, the bank that is giving the company the mortgage on he factory rang dh with the official valuation figure and it was much higher than expected- £395k we paid £200k two years ago, not bad! They also said it's a conservative figure as he first one to be resold went for £320k and it's half the size of ours. It doesn't mean much now but in the future it's going to help as part of a pension.

    Anyway, I need to update the mfw2017 figures, I shall still be in the "we are slipping" category as usual
    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.
    • newgirly
    • By newgirly 6th Oct 17, 3:01 PM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    [QUOTE=newgirly;71001360][QUOTE=newgirly;70636818][QUOTE=newgirly;70261012]
    SEPTEMBER update!

    Start figures:

    Mortgage £58,613

    Loan. £21,773


    Total at Jan 1st £ 80,386


    As of today:

    Mortgage £47,464

    Loan. £ 16,090

    Total today; £63,554


    Total reduction so far this year: £16,832

    Total Sept reduction :£439.08
    Originally posted by newgirly
    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.
    • newgirly
    • By newgirly 6th Oct 17, 3:10 PM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Worst month for quite some time

    Thought I might start making a note of any mse stuff I do each day, I've been rubbish at posting and reading diaries lately, that usually coincides with me spending lots of money, time for a bit more effort!

    Today's efforts :

    Heating off

    No spend day

    Plan to not eat out all weekend, this has been way too frequent lately

    Spent time updating mortgage plans and checking what been paid off
    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.
    • newgirly
    • By newgirly 7th Oct 17, 7:34 AM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Glad I bought some fleece pj's in othe day as it's getting cold here , I might have to buy a second pair as they are still so cosy

    Dh is at work with dd, so I plan to take back a few items of clothing I bought the boys last week at the shopping centre (and swap part of it for some pj's ) cook a nice meal for tonight and get all the washing dried on the heated airer.
    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.
    • smallholdingsister
    • By smallholdingsister 7th Oct 17, 7:48 AM
    • 3,557 Posts
    • 27,742 Thanks
    smallholdingsister
    What kind of heated airer do you have and does it cost much to run?

    You are a whirlwind NG!
    • newgirly
    • By newgirly 7th Oct 17, 8:40 AM
    • 5,894 Posts
    • 40,614 Thanks
    newgirly
    Morning shs, it's the Lakeland three tier. I hadn't one a few years ago and after about three years it stopped working so it lived in the garden as a normal airer. I thought I'd buy another as it was so handy, went in Lakeland and picked one up to buy , mentioned to the lady serving I missed my old one and she said return it and will give you a new one so I did!

    It was about 5p ph in electric , but I'm not sure how up to date that figure is now. It takes three loads if you chuck towels and sheets over the top instead of hanging them, it dries anything including jeans/delicates etc. Not as quick as a tumble, but will dry most things overnight and I keep mine on all day if I'm out, I doesn't overheat. It really is the best thing I have ever bought

    This post was not sponsored by Lakeland
    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.
    • smallholdingsister
    • By smallholdingsister 7th Oct 17, 9:18 AM
    • 3,557 Posts
    • 27,742 Thanks
    smallholdingsister
    Cool. Thanks for that. Struggling to just line dry for five with the eternal rain.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 7th Oct 17, 9:35 AM
    • 641 Posts
    • 2,526 Thanks
    wishingthemortgaheaway
    If only I had the space to store a Lakeland heated aired (not that the airers go away that often...)

    But, the heating kicked in this morning, so its obviously cold and with the cast iron bathroom radiator now on it will all dry in a jiffy.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • Kittenkirst
    • By Kittenkirst 7th Oct 17, 5:19 PM
    • 1,636 Posts
    • 8,546 Thanks
    Kittenkirst
    Sounds like you had a lovely time in Italy- brought back my memories of a week in Pisa & Florence many moons ago

    What a win with the cruise being cheaper on the day you boooked it- definitely worth popping in the bubbles
    2017 MFW #20 - OP £2348.20/ £2150 106%. New target £2500 93.9%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £52.33

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • CathT
    • By CathT 7th Oct 17, 6:07 PM
    • 5,379 Posts
    • 37,018 Thanks
    CathT
    Great news on the company premises value. Am sure you will juggle your spends and as they are planned you can be prepared.

    Are you doing anything for hallowe'en this year?
    Dec 2017 -
    part 1 - £79,783
    part 2 - £45,999
    Total - £125,782
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