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  • FIRST POST
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 28th Aug 10, 7:05 PM
    • 3,865Posts
    • 35,841Thanks
    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 215
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 3rd May 17, 7:44 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Hello,

    Yes, I was a bit disappointed with that programme as a few of the solutions also depended on already having land, or using family land which isn't an option for most people. And the boats and trailers are probably not a long term solution for people once they have a family. It would have been much more useful for viewers to see more people who had paid off mortgages by being frugal, running side hustles, and so on. It is a much more practical way forward, albeit not quite such good TV visually.

    Oh and I are trying to think hard about spending on fripperies. Not actually moneysaving as such as none is spent, but this week we have chosen not to book ahead for the airport lounge on our next trip, we usually do as it is very peaceful and you get a meal and wine. We have also invited family to us for a meal instead of eating out, which was their first suggestion. We do find that we get into habits of spending, or we just go along with others' suggestions. But now we are getting back into the spending patterns that we used to pay off the mortgage when we are at home, and relaxing the rules when we go away. That is a bit rambling but I hope you see what I mean.....
    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
    • smallholdingsister
    • By smallholdingsister 3rd May 17, 8:02 PM
    • 3,320 Posts
    • 26,034 Thanks
    smallholdingsister
    Sounds cosy, lovely and intentional.
    • earthgirl
    • By earthgirl 4th May 17, 7:37 PM
    • 2,412 Posts
    • 19,483 Thanks
    earthgirl
    Sounds great squirrel. Frugal can be fun! I've been spending a bit lately but on stuff that matters. Back to my frugal ways now though!
    P.s try your local uni/college for summer language students, which is how I got mine.
    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 6th May 17, 12:33 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Hello,
    I am having a lazy day today as it was a very busy four day week at work. Only two weeks to go, then a week away before I plunge into the morass of exam marking for two different boards. That will keep me off the streets until the middle of July. By that time I will have worked for half of this year ( give or take a couple of trips away) which is quite enough for someone who is supposed to be early retired. Although I suspect that by November I will be ready for another challenge....

    Still penny pinching, today will be a nsd but tomorrow we are going shopping for new jeans for oh. We both hate shopping for clothes but he is starting to look like a street person. Time to bite the bullet and spruce him up a bit.

    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
    • Teacher2
    • By Teacher2 9th May 17, 9:07 AM
    • 491 Posts
    • 2,485 Thanks
    Teacher2
    Your 'early retired' life seems a lot busier than many an employed person's weekly round!

    Good luck with the jeans hunting. My DH has a mixture of M&S 'dad jeans', Levis 501s (the staple of the older gent) and T.K. Maxx bargains (made for men much younger than he is.) He always wants to default to the oldest and least smart pair while I always want him to be in the most presentable.

    I gave up saving the best for special occasions long ago when I worked out that my social life is nil and I am not to going to live forever.
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 9th May 17, 7:28 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Hello

    Yes I do agree abou not keeping things for best. Oh now has a couple of pairs of Levis which fit well and he will now wear them every day until they fall apart. We so hated the shopping experience that it is likely that we won't be buying any more clothes for a very long time.
    What with the queuing to park, queuing to try things on, clothes on, clothes off... How do people do it as a leisure activity?!

    I have a very ancient and fairly limited work wardrobe. For the next eight days I will be wearing the oldest things and then washing and putting them in the charity bag as after that I won't be back at work for quite a while if ever. I will just keep three smart outfits and that will be that. I do love getting rid of stuff.
    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 10th May 17, 8:05 AM
    • 6,212 Posts
    • 62,950 Thanks
    greent
    I detest clothes shopping - I try and do as much as possible online if I can. I have a limited wardrobe for all occasions - work wise I have 3 pairs of trousers and about 7 tops and 3 long M&S different coloured cardigans - I rotate it all and hope for the best

    Levis wash and wear well. I got OH to buy 2 (more) pairs when we were in Florida last year - equated to about the price of 1 over here!
    x
    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) £4151/£3286
    Net sales 2017 £1152.39/£500 PAYDOX17 £11333/£10k Decluttered 1552/2017 items
    • Teacher2
    • By Teacher2 10th May 17, 10:14 AM
    • 491 Posts
    • 2,485 Thanks
    Teacher2
    I agree with everyone about how awful clothes shopping is. I used to love to have a wander round the shops and would often top up my work wardrobe with an inexpensive item from a sale at Laura Ashley or a Monsoon bargain. However, in the five and a half years I have been early-retired I have lost the taste for it. I don't want to spend the money and there is little that passes the 'does it look better than what you are wearing now?' test.

    I really look after my clothes which is how I get away with having them for years. My DH sometimes says, 'That's nice' about some item of clothing he clearly thinks I've just wasted money on and it is invariably some ten year old top I haven't worn for a while.

    Squirrel, your comment about a work wardrobe has just made me realise that my working wardobe kept 'just in case' is still hanging clean and pressed for a job (I hope and pray) I will never need to take. I am going to sort it out now.

    Many thanks for that. I don't think I've worn a skirt for five years except in the warmest summer weather so I am going to take them to the charity shop. It's £10 jeans, pearls and a posh top for me!
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 14th May 17, 9:11 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Hello,
    Oh no GreenT I never thought about how much cheaper they are in the US and we are going there in August! grrr Oh well, at least now we won't be spending any holiday time shopping for jeans!

    Teacher, only five outfits to go! I am very much enjoying the extra wardrobe space. Like you, I am really looking forward to a less formal appearance!

    We have had a weekend in the country and did spend a fair bit, some on gifts which we had to buy anyway but also a cream tea and pub so we are aiming for a no spend week until we go away on Sunday. Only five more get ups, then a week away followed by six weeks of exam marking. I really hope that goes well, I will be doing my very best as it could be a way for me to top up the spending pot without actually having to go to work.

    I hope you all 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
    • Teacher2
    • By Teacher2 17th May 17, 10:49 AM
    • 491 Posts
    • 2,485 Thanks
    Teacher2
    I hardly think the odd cream tea is too much of a spending 'sin', especially followed by a NSW!

    We managed a nearly NSW or rather a not-much-spend week last week when the DH was away on his (prepaid) birthday present steam train driving course. He stayed in a cheapo Travelodge and ate frugally. One evening he told me had bought a knock down Iceberg lettuce for 20p, a tomato and a packet of knock down ham and made a salad. That's my boy! Not that I told him to eat cheaply, of course.

    I ate soup and a bun out of the freezer for four nights in a row. It's great to eat eccentrically when the chaps are away! No one to nag about 'proper meals'. I bought nothing and walked everywhere.

    It's really strange not to spend money. I don't think I had one single NSD when I was working. I was frugal enough and we always saved what we could but I just didn't think about not spending. It didn't occur to me to do it.
    • littlefred169
    • By littlefred169 4th Jun 17, 3:36 AM
    • 200 Posts
    • 1,829 Thanks
    littlefred169
    After being MIA for a few years I'm finally back and catching up on the diaries I was following before!

    Well done on becoming mortgage free and taking full advantage of working when you want/need to! Your travels sound brilliant

    LF x
    Last edited by littlefred169; 04-06-2017 at 3:44 AM.
    Original MF Date = July 2034
    Current MF Date = January 2029 but I'd like it to be April 2025
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 5th Jun 17, 1:29 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Thank you Fred,

    We got back from a Spanish break with friends last week and now we are just finishing decorating in the kitchen before the plumber comes to make a start on the bathroom tomorrow.

    We brought the kitchen, including two new Windows, in for £2.5k, very much less than we were quoted. To be fair it is not fully fitted, just two walls, but as £2.5k is the absolute maximum that I think a kitchen is worth, I am very pleased. And if I say so myself, it looks great. Now to see how much under the £7k quote we can do the bathroom for.

    Just this week left to catch up before I begin serious exam marking next week. I hope all is well with everybody since our break,

    Squirrel x
    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
    • Tilly MFW in 6 YRS
    • By Tilly MFW in 6 YRS 5th Jun 17, 3:07 PM
    • 7,745 Posts
    • 86,426 Thanks
    Tilly MFW in 6 YRS
    That's an excellent price for redoing the kitchen.

    Good luck with the marking.

    I've lost track now - are you still working in a school temporarily or have you finished?

    When's your next holiday?

    Tilly xxx
    2004 £387k 29 years - MF March 2033
    2011 £309k 10 years - MF March 2021.
    Achieved Goal: 28/08/15
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 5th Jun 17, 5:53 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Hello Tilly,

    I finished my most recent contract a couple of weeks ago, and won't work again now, apart from two lots of exam marking, until November. And that is not a definite! I did say I wouldn't work in the summer and I am sticking to it. Although we do have to be careful not to overspend when we are both at home together.

    Next holiday is two weeks in August with the grandchildren at Disney. Then we will be off to Portugal in the camper van in September. Really looking forward to both.

    All the best to you and yours,
    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 5th Jun 17, 7:34 PM
    • 195 Posts
    • 885 Thanks
    DeterminedSingleMummy
    Hey SSS. What a lovely thing to be able to say that you don't have to work if you don't want/have to reading your posts and others motivates me so much to get rid of my mortgage!! And more trips to Disney is super motivating lol! X
    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
    • Tilly MFW in 6 YRS
    • By Tilly MFW in 6 YRS 5th Jun 17, 7:39 PM
    • 7,745 Posts
    • 86,426 Thanks
    Tilly MFW in 6 YRS
    Brilliant way to enjoy your life xxxxx
    2004 £387k 29 years - MF March 2033
    2011 £309k 10 years - MF March 2021.
    Achieved Goal: 28/08/15
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 5th Jun 17, 10:19 PM
    • 3,865 Posts
    • 35,841 Thanks
    Secret Saving Squirrel
    Thanks for the kind words. We really are having a lovely time. I just wish we had begun when we were younger! I really can't overstate how great it feels to not be tied to a regular job just to pay the mortgage.
    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
    • smallholdingsister
    • By smallholdingsister 6th Jun 17, 2:35 AM
    • 3,320 Posts
    • 26,034 Thanks
    smallholdingsister
    Great job on the kitchen. And your wonderful gallivanting...
    • Teacher2
    • By Teacher2 6th Jun 17, 9:21 AM
    • 491 Posts
    • 2,485 Thanks
    Teacher2
    Thanks for the kind words. We really are having a lovely time. I just wish we had begun when we were younger! I really can't overstate how great it feels to not be tied to a regular job just to pay the mortgage.
    Originally posted by Secret Saving Squirrel
    Brilliant! Well done. What an example.
    • Karmacat
    • By Karmacat 6th Jun 17, 6:53 PM
    • 27,748 Posts
    • 151,719 Thanks
    Karmacat
    Great job on the kitchen. And your wonderful gallivanting...
    Originally posted by smallholdingsister
    Congratulations on both from me too. I hadn't considered renewing the kitchen, but I may really need to because of a rat situation

    And your gallivanting is fantastic
    Retired August 2016
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