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  • FIRST POST
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 28th Aug 10, 7:05 PM
    • 3,867Posts
    • 35,852Thanks
    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 214
    • Karmacat
    • By Karmacat 11th Apr 17, 9:45 AM
    • 27,852 Posts
    • 152,623 Thanks
    Karmacat
    All sorts of lovely news

    Good plan to earn up to the tax allowance. I sort of have that, with the £25k in my sig over a few years, but thats a really good way of putting it that you've found. I'm on the first bit of becoming an occasional cat sitter - going to stay in the maisonette of my youngest nephew and his wife while they're away for 10 days, I'll be looking after their rescue cats. Then I can genuinely say I have experience looking after *other* cats. Now if my niece would go away, I could add "small animals", because I could look after her bunny
    Retired August 2016
    • CathT
    • By CathT 11th Apr 17, 1:21 PM
    • 5,311 Posts
    • 36,480 Thanks
    CathT
    Great saving on the kitchen! I love that you are now in a position to pick and choose exactly what work you do.

    I can relate to the wants vs needs at the moment!
    August 2017 -
    part 1 - £79,967
    part 2 - £46,351
    Total - £126,318
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 11th Apr 17, 10:26 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    Hello

    The tiling is done and looks lovely. Just now waiting for the glazing and then I will do the last painting.
    Next job is bathroom one. I am hoping to bring this in without spending too much too. Work should start on May 2. Bathroom 2 will be in July, I think. Then it is very likely that we will also need to do the hall stairs and landing after all the upheaval through the house.

    Hopefully then we will not need to do much more for a while. However, the downside of being MFW for a few years is that we have not necessarily maintained the house as well as we should in this period so we have some catching up to do.

    Off to see a friend for the day tomorrow, she has a new baby so I will buy a gift on the way. This is the sort of spending that I don't want to give up, although I am very happy to live with an old TV!

    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
    • Teacher2
    • By Teacher2 12th Apr 17, 10:28 AM
    • 494 Posts
    • 2,497 Thanks
    Teacher2
    Congrats on doing your kitchen for such a bargain price. It sounds lovely. I can sympathise with the problem of paying off debt and not keeping up with expensive maintenance for a few years. We did that in prioritising pay-back in the Virgin One Account and then we had a load of things to do on the house all at once. Ouch! Expensive!

    Now that I am at home I can keep on top of things more and catch problems at an earlier and cheaper stage. I have a programme of 'half maintenance' which seems to work. For example, in the old days when the DH and I were both working full time we paid eye watering sums to get the exterior paintwork done by a professional. Now I have a rolling programme of, for example, painting just the bottoms of the window frames and the sills every couple of years rather than the whole frames. It's much cheaper and quicker and looks as if the complete job has been done as well as protecting the woodwork perfectly adequately.

    In the garden I have removed beds and extraneous trees to make the maintenance much simpler. I have also had what had turned into a weed bed under some trees landscaped with pebbles and Cretan pots. All I do now is cut the grass, water my flower pots and attend to a few self-maintaining shrubs and I don't need to pay anyone to help with this level of work.

    That said, we've had an expensive couple of weeks as the car needed the aircon re-gassing (whatever that means?) and the mower broke. The dear old Hayter Harrier mower is 14 years old now and we had to decide whether to have him mended and serviced for the umpteenth time or buy a new cheapo version from Homebase. The price of either option was going to be the same. In the end we let our repairer talk us into the repair (he would say that, wouldn't he?) on the grounds that an old Hayter is miles better than any modern, mass produced, home warehouse mower. Time will tell whether we were mugs or wise.
    • Teacher2
    • By Teacher2 12th Apr 17, 10:34 AM
    • 494 Posts
    • 2,497 Thanks
    Teacher2
    Next job is bathroom one. I am hoping to bring this in without spending too much too. Work should start on May 2. Bathroom 2 will be in July, I think.

    We bought a lovely bargain bathroom suite a decade ago for £600. Unfortunately, we bought it from MFI which promptly went kaput. Then the bathroom fitter, a creative genius in the 'add on' department, managed to bump up the bill to six grand or so. Luckily we were both working at the time so it didn't matter too much. Makes you think though.

    Squirrel, from your splendid diary, I can tell you will not be caught napping like we were and will bring your project in under budget. Two and half grand for a kitchen refurb was 'awesome' as the dear children say. Good luck.
    • smallholdingsister
    • By smallholdingsister 12th Apr 17, 12:17 PM
    • 3,393 Posts
    • 26,476 Thanks
    smallholdingsister
    Goodness you don't hang around. Well done on the kitchen. Any pics?
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 12th Apr 17, 10:03 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    Hello,

    I am hoping that when I actually stop working I will be able to keep a closer eye on things as you do, Teacher2. Once all of this work is done it should be more manageable. Unfortunately oh is the least practical person in the world and I am only slightly better so, although I try, we do need a fair bit of help.

    SHS I am reluctant to put photos on in case anyone recognises it! But we have 'takeaway ' cream cabinets, imitation slate worktops and we are having some quite cool etched glass in the Windows. And a very shiny stainless steel dishwasher.

    Tomorrow I will be buying two sets of taps and a heated towel rail for the bathroom so an expensive day! Tonight we have been to see a local show that oh got free tickets for and it was terrible. Not everything that is free is good...... We left in the interval and came home for an early night.

    Goodnight all xx
    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 12th Apr 17, 10:03 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    PS I think repairing the old mower is the best thing. They can go on for years!
    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 13th Apr 17, 8:14 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    Hello,

    Bathroom stuff is bought for just over £500 and it all looks very good. When the plumber comes he will buy all the pipe work so more to buy there and we also have to get tiles. If we can do it all for £2500 I will be very pleased.

    Off to stay with friends in the country for Easter. I hope you all have a restful time.

    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 13th Apr 17, 9:41 PM
    • 2,453 Posts
    • 19,753 Thanks
    earthgirl
    Wow, amazing spends on the kitchen! Have a lovely Easter!
    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) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
    • Karmacat
    • By Karmacat 14th Apr 17, 10:16 AM
    • 27,852 Posts
    • 152,623 Thanks
    Karmacat
    Great that you're going away, now that the house is in upheaval with the bathroom. Have a lovely visit
    Retired August 2016
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 17th Apr 17, 7:51 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    Hello,

    We have had a relaxing break and enjoyed the fresh air and a bit of sunshine. And the best bit was catching up with friends.
    Not much spending done, which is good, and now I am aiming for four consecutive nsd until Saturday. Oh will be out volunteering all day on Saturday so that could possibly be a nsd too. Then on Sunday we are off on another little jaunt for a week, paid for from the annual holiday budget, which incidentally is the same size as the every day living budget! My aim every month is to undercut the previous year but it rarely happens. Partly due to inflation though.

    Have a good 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
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 17th Apr 17, 8:41 PM
    • 202 Posts
    • 903 Thanks
    DeterminedSingleMummy
    I'm finding it hard to have NSD Whenever it's dry and sunny out. So much easier to not spend anything on a rainy day and hide indoors! Any tips on this?? Good luck with your NSD this week!!

    Xx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • earthgirl
    • By earthgirl 18th Apr 17, 7:56 PM
    • 2,453 Posts
    • 19,753 Thanks
    earthgirl
    Good luck with all the marking!
    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) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    June 17 £32,053 Sept 17 £22,619
    Kids savings 13,578/36k
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 20th Apr 17, 5:54 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    I was doing fine until oh car went in for repair. £1400! Tight times ahead. Time the old banger was scrapped. The car, not me!
    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
    • greent
    • By greent 20th Apr 17, 7:03 PM
    • 6,298 Posts
    • 63,805 Thanks
    greent
    Ouch! Am sure you could get a reasonable little car for not much more than that!
    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) £4607/£3286
    Net sales 2017 £1202.80/£500 PAYDOX17 £11635/£10k Decluttered 1650/2017 items
    • Teacher2
    • By Teacher2 24th Apr 17, 10:12 AM
    • 494 Posts
    • 2,497 Thanks
    Teacher2
    £1,400 would virtually buy you a runaround. I hear Diesels are very cheap at the moment! If you don't want to drive into city centres or do much mileage it might be a solution.
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 29th Apr 17, 6:49 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    Hello,
    The car is still on the driveway while we ponder alternatives. We have known for a long time that it is very silly to have the running costs of three vehicles, including the camper, when only one of us works, and that is within easy cycling or walking distance. So we may not replace oh car, instead we will share mine and if I am out in that, oh can drive the camper. But you know what men are like. My car is a small 2 door which somehow offends his masculinity. So we will see... Either way we won't be paying £1400 for the repair, book value is only a few hundred pounds and it could be easily replaced for £1000.

    We have been away for a few days, and I have been tidying and organising as we still have some work to do in the kitchen, and soon we start on the bathroom..... I remember why we put off renovation for so long!

    I hope you all have a great 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 2nd May 17, 8:34 PM
    • 3,867 Posts
    • 35,852 Thanks
    Secret Saving Squirrel
    Hello,

    Decision on the car is still pending and we are also in limbo with the renovations while we wait for the kitchen glazing to be done so that we can finish the decorating, and also for the plumber to begin the bathroom. So I am enjoying the peace.

    We are aiming for a low spend week and weekend ahead so that we don't dent the budget too much when everything starts happening.

    There seems to be a glut of hoarding, cleaning and minimalist TV programmes at the moment. Seems like everyone is getting in on the low spend, low debt, low possession lifestyle. We were all ahead of our time!
    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
    • Teacher2
    • By Teacher2 3rd May 17, 9:54 AM
    • 494 Posts
    • 2,497 Thanks
    Teacher2
    "There seems to be a glut of hoarding, cleaning and minimalist TV programmes at the moment. Seems like everyone is getting in on the low spend, low debt, low possession lifestyle. We were all ahead of our time!"


    Yes, indeed, we are enjoying Sarah Beeny's 'How to Live Mortgage Free' though some of the mortgage free solutions seem to involve living on means of transport like trailers and barges which come with no land attached and so might seem somewhat temporary.

    There was one family who paid off a £220,000 mortgage in eight years by cutting back spending and a woman who built an amazing dwelling on the site of a sort-of-reservoir for very little money and by doing her own building drawings after learning how to do so on the internet.

    One thing they all seemed to have in common was that they were bright and savvy which are qualities one sees in spades on this 'Mortgage Free Wannabe' thread.

    If only everyone could participate in this wisdom. I despair of the amount of money my own children waste on buying food outside the house. They could have BOUGHT a house with what they have spent, I'm sure.
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