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  • FIRST POST
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 28th Aug 10, 7:05 PM
    • 3,669Posts
    • 34,115Thanks
    Secret Saving Squirrel
    Squirrelling it all away......
    • #1
    • 28th Aug 10, 7:05 PM
    Squirrelling it all away...... 28th Aug 10 at 7:05 PM
    Hello,

    I have been reading the MFW diaries for some months now and am finally in a position to begin some serious overpaying. I intend to overpay £1500 per month in order to finish our mortgage on 1.3.13. It seems a nice symmetrical date.

    I have a good full time job, and so does OH. Our children are grown up and it would be great to see an end to the mortgage so that we can enjoy our 'autumn' years! I am 49 and he is 53 so we are still spring chickens really..... The overpayments will mean quite a sacrifice but it really hurts me to see how the banks profit so hugely from us - (how can they charge 7% for loans and pay only 0.25% on an ISA, and still keep a straight face?) - I get quite Mrs Angry when I think about these things, and see how they prey on the careless.

    But best not to get me started. I've always been fairly sensible with money but OH really isn't and gets fed up when I talk about it so I hope the diary will inspire me to keep going in the face of his apathy! My intention is to post every couple of days with my ramblings about squirrelling away for the future. I have really enjoyed everybody's diaries and hope that mine will not be too dull!

    Thanks for listening

    Squirrel
Page 204
    • earthgirl
    • By earthgirl 7th Oct 16, 7:56 PM
    • 1,993 Posts
    • 16,145 Thanks
    earthgirl
    Glad it's going well, sorry to hear about the car bills.
    15/5/12 Paid off Mortgage 1 (£220k)
    Dec 13 - £116,508 Bought Dream House
    Dec 14 - £94, 402 (£22,106 offset in 2014)
    Jan 16 - £67, 852 (£26,550 offset in 2015)
    Sept 16 - £37,429.63 (£30,422 offset so far in 2016)
    Kids savings 11.8/36k
    • CathT
    • By CathT 8th Oct 16, 8:13 AM
    • 4,889 Posts
    • 33,494 Thanks
    CathT
    Love that you are in a position where you can choose to work to top up the spending pot.
    June 2010 £121,287
    Dec 2016 £84,056
    WIOTW Dec £91,392
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 9th Oct 16, 1:14 PM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    Hello,

    We had a lovely day yesterday and now we are resting up and recharging our batteries. Only one more week until half term, which is great as I will only have worked two weeks since June by then!
    The seven weeks to Christmas will come as a bit if a shock.
    My car mot and full service came to £435 but it is getting on in years now and needs looking after.
    This coming week and weekend will be quiet though, so shouldn't bust the budget.
    As I am on a supply contract I will get paid weekly which means more fun shifting pennies around on a more regular basis! I know how to enjoy myself.
    Have a good day,
    Squirrel
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • Cheery Daff
    • By Cheery Daff 9th Oct 16, 5:00 PM
    • 7,050 Posts
    • 32,832 Thanks
    Cheery Daff
    Ha, glad I'm not the only one who enjoys shifting money round more often I'm not paid weekly, but rather right in the middle of the month, so i allocate stuff to the following month provisionally when I'm paid, then shift again at the start of new month Love it

    Pah to posh school getting in touch when it was too late but I hope you can brig this lot round x
    Saved for house move: £8570
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 9th Oct 16, 8:59 PM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    Hello Daff, yes it was very annoying. But I am fine where I am now.
    Have a thrifty week,
    Squirrel
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 14th Oct 16, 6:05 PM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    Hello,

    Well, what a difference a week makes. I have now left the aforementioned school because I wasn't prepared to run myself into the ground trying to educate such rude, demotivated, and lazy hooligans. I am not going into details but suffice to say that I feared for my safety as well as my sanity.......

    Now I have my feet up and later I will go out for a few drinks with the girls. Oh and I are going to have a recuperative few days away by the seaside in the camper while we think about what to do next. So much for saving up.... The best laid plans gang aft agley......

    Have a good weekend,
    Squirrel
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 15th Oct 16, 7:19 AM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    Hello,

    I spent ages with the calculator, and discovered that even if we never do another stroke of paid work, we will be able to live fairly well forever, mostly due to having paid into good pensions (apologies to younger people who don't have this opportunity) and to having got rid of the mortgage early enough to have saved enough to fill the gap before the pensions pay out. And of course, the house is ours to sell and downsize if we feel the need. It wouldn't be an extravagant lifestyle but fine for our needs as we are not ostentatious or feel the need to be designer anything.

    But........ I keep looking at jobs. I can't settle. Not having anything coming in seems absolutely wrong. I need mr MMM to punch me, I think. Of course, with this low interest rate, high inflation scenario on the horizon ( thank you Mr Carney) I might be wise to grab at any job available. All very unsettling which is why I am up so early.
    Thank you for listening chaps.
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • giblet1979
    • By giblet1979 15th Oct 16, 8:44 AM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    It must be hard SSS...to save and pay off for so long but it's a shame that uncertainty doesn't go. At least the positive us that you can really pick and choose (and walk away when it's definitely not right as this recent experience sounds.....horrible!)
    Is there anything you've always wanted to do and not had the chance? Tutoring? Writing? Training? I bet you'd be snapped up in the 'teaching personal finance' arena
    Xx
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • smallholdingsister
    • By smallholdingsister 15th Oct 16, 8:57 AM
    • 2,503 Posts
    • 19,522 Thanks
    smallholdingsister
    Can you get in touch with the posh school?
    • Karmacat
    • By Karmacat 15th Oct 16, 9:27 AM
    • 26,544 Posts
    • 140,135 Thanks
    Karmacat
    I can understand how unsettled you feel but also think you're right to leave *that* job. Nothing is worth compromising your safety, I'm glad you took action.

    Hope you can mull things over during the next few days and come up with another plan
    Retired August 2016

    Goal: earnings of £25k from new opportunities from September 2016 to December 2020 when my state pension kicks in.
    Currently: 86.53/25,000
    Save
    • BookWorm
    • By BookWorm 15th Oct 16, 9:57 AM
    • 2,201 Posts
    • 13,606 Thanks
    BookWorm
    Sorry to hear the job turned out to be so bad Don't have anything to add or suggest that the fab folks above haven't already. Just wanted to post to show you that you have support and wish you a lovely weekend
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 15th Oct 16, 1:45 PM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    Thank you for the support, I think I really just need to take some time and actually think rather than just grabbing at the first thing that comes along. It is too late for the posh school, that was my first thought, SHS, but obviously that was not meant to be.

    So today we are packing up the camper for our first trip in it since the long one, just a few days by the seaside, leaving tomorrow. Hopefully some sea air and long walks, along with a long boozy lunch, will show me the way!

    Have a good weekend,
    Squirrel
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • Karmacat
    • By Karmacat 15th Oct 16, 2:00 PM
    • 26,544 Posts
    • 140,135 Thanks
    Karmacat
    Lovely! That really blows the cobwebs away - I really need to be rethinking possibilities for retirement, now that I'm on a roll

    Have a a great time
    Retired August 2016

    Goal: earnings of £25k from new opportunities from September 2016 to December 2020 when my state pension kicks in.
    Currently: 86.53/25,000
    Save
    • giblet1979
    • By giblet1979 15th Oct 16, 4:16 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Enjoy SSS - hope you have a lovely time x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • smallholdingsister
    • By smallholdingsister 15th Oct 16, 5:59 PM
    • 2,503 Posts
    • 19,522 Thanks
    smallholdingsister
    Bon voyage!

    I am sure you have considered these, but

    Exam marking
    Consultancy
    Cranmer?

    Ha ha the autocorrects wants an historical archbishop rather than a place to swot for exams!
    • Watty1
    • By Watty1 16th Oct 16, 10:24 AM
    • 2,494 Posts
    • 17,599 Thanks
    Watty1
    Great suggestions. Have a lovely break
    Mortgage at start of diary Sept 2013: £132,995 Aug 2015 £0
    Overpaying next mortgage. £79,491 now £68801
    • Goldiegirl
    • By Goldiegirl 16th Oct 16, 6:12 PM
    • 8,307 Posts
    • 47,302 Thanks
    Goldiegirl
    Goodness me, it's been a bit up and down!

    But great that you can walk away if the job doesn't suit.

    Totally understand how you feel, regarding funds and money coming in

    Although, on paper (and in practice) I know we're fine, from time to time I have a wobble about finances.

    As you are both a bit younger than me, I can understand why you feel you'd want to ensure some extra money is coming in, as your 'gap' to retirement is longer than mine. Probably the only reason I feel comfortable is that Mr Goldie is 8 years older than me and is now very near his state pension age, so one of the gaps is almost bridged.

    At least you don't have to take ANY job, you have the luxury of choice.

    Just wondered if you'd thought about training to be a tour guide. with your teaching background, it could be up your street. You could take work arranged around your own holidays.

    Have a nice break, the weather is still good, so you should be able to get out and about
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
    • greent
    • By greent 16th Oct 16, 9:48 PM
    • 5,196 Posts
    • 52,345 Thanks
    greent
    Hope you have a lovely break. Sorry to hear the school was so horrid - but at least your hard work means you can now choose to walk away and be financially ok x
    Repaid mortgage early (originally 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
    Now repaying BTL Mtge. Opening Bal £69786. Current Bal £68286
    Net sales in 2016 £778.60/£500
    Dec grocery spends £0/ £480 NSDs 4/12
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 18th Oct 16, 6:08 PM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    Hello,

    We just got back and have just got unpacked and ready for the evening. I like all of your suggestions and will be pursuing a range of options - after Christmas. I think I am unlikely to go back into the classroom but you never know. Now, I just want some time to think, and also to see what it is really like to be just at home for a bit.

    Having said that, we will be away again this weekend to Edinburgh. So watch out, Ed.

    All booked and paid for ages ago, but it will have to be our only trip this side of Christmas as we will bust the budget otherwise!
    Have a good evening,
    Squirrel
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • earthgirl
    • By earthgirl 18th Oct 16, 8:00 PM
    • 1,993 Posts
    • 16,145 Thanks
    earthgirl
    SSS - S orry to be late and commenting on old news - been away. Well done for walking away from a job that was unsafe. in hindsight I probably should have done a bit of that...

    I do extra work for the local council's home tuition service. It's brilliant, well paid and totally flexible. Not sure if your LEA would do something similar...after XMas of course!

    Enjoy Edinburgh and your pre Christmas relax - you've earnt it!
    15/5/12 Paid off Mortgage 1 (£220k)
    Dec 13 - £116,508 Bought Dream House
    Dec 14 - £94, 402 (£22,106 offset in 2014)
    Jan 16 - £67, 852 (£26,550 offset in 2015)
    Sept 16 - £37,429.63 (£30,422 offset so far in 2016)
    Kids savings 11.8/36k
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