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  • FIRST POST
    • CathT
    • By CathT 2nd Sep 10, 11:22 AM
    • 4,794Posts
    • 32,853Thanks
    CathT
    CT's attempt at being mortgage free
    • #1
    • 2nd Sep 10, 11:22 AM
    CT's attempt at being mortgage free 2nd Sep 10 at 11:22 AM
    Hi all,

    Originally came across this forum and had the idea of OP in the short term while interest rates so low but have been so inspired to make being MF a realistic goal.
    Initially was inspired by Financial Bliss's diary and then read many others taking in lots of tips and posting the occasional comment.

    So, a bit about me. Live with DH and DD (aged 2) with outstanding mortgage of just over 119,000 with about 19.5 years left on the term. We are young ish! and would hope to be MF by time i'm 40 (DH 45) so pretty much a 10 year ish plan.

    We have a fair income (about 40k joint) but have been used to living on a lot less so am hoping to direct disposable income at mortgage)

    Thanks for reading so far and I hope you will join me on my journey to keep me motivated!!
    Last edited by CathT; 20-12-2011 at 1:49 PM.
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
Page 187
    • CathT
    • By CathT 16th Sep 16, 7:35 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Nothing exciting, probably a c0rsa, had French cars for years and not too impressed at some of the problems we've had.
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • Muser1
    • By Muser1 16th Sep 16, 8:42 AM
    • 742 Posts
    • 3,822 Thanks
    Muser1
    I have a c0rs4 it's ideal for me. Lots of room in the back for the kids and decent boot. I've got the s x i version which has a decent bit of kit on it. Cruise control etc. It's not for everyone but mine is an ex hire car. It was only 9 months old and I got it really cheap. It's 2 years old now and been great (touch wood).
    Mortgage Jan 13 99260.00 aug 16 89712.34
    Emergency fund 2500.00
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 16th Sep 16, 5:59 PM
    • 3,568 Posts
    • 33,228 Thanks
    Secret Saving Squirrel
    Goodness you have a lot going on, now wonder you can't sleep! I hope you have a restful weekend. 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
    • CathT
    • By CathT 17th Sep 16, 6:49 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Great minds Muser, we bought a cors@, only a year old and got a good deal. Just need to tweak the budget.

    Thanks sss, did sleep better last night even though I was exhausted by 9pm. Had almost 9 hours solid sleep!

    Have a huge pile of paperwork to sort out and it will be nice to see the breakfast bar again! More decluttering needs to happen and a friend has lent me a couple of konmarie books. Might make another coffee and have a quick browse.

    25p on y0ugov, payday for both of us next week. Nice weekend planned so all looking good
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • newgirly
    • By newgirly 17th Sep 16, 7:36 AM
    • 5,081 Posts
    • 35,195 Thanks
    newgirly
    How exciting cath, when do,you collect it?
    MFW 21
    Target for 2016 £30,000 \ £72,350.11 paid so far

    Mortgage £63,080 5 yrs 8 months left. Total owed £92,893.96. Fridge fund £0

    Weight loss 2016 - 17.25 lb lost 40lb target
    • CathT
    • By CathT 18th Sep 16, 6:52 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Should be ready this week NG, they were just sorting out if it will need a service and we will need to sort insurance. Can't wait to pick it up.

    Internal bodyclock has meant I've woken at 5:45am this weekend which is the same time as my weekday alarm. So frustrated to miss out on a rare chance of extra sleep!

    Food shop done by 9am yesterday, spent about £40 and we are well stocked for the week, good old @ldi. Also picked up some bulbs for the garden (planted up two containers yesterday) and a birthday cake for dd to take to school this week. Not seen them there before but they had large madeira and jam and a chocolate cake for £3.99! Also took ds swimming and he's part of a really small group now, 3 children and 2 instructors so I'm expecting some good progress. He's really confident now which is the main thing.

    I also managed to read a few chapters of kon- Marie and tackled the financial paperwork so instead of it taking over various places downstaifs it is all in one box - woohoo, progress and clear space! Both m*s accounts up and running and account switch done. We should both receive a £100 gift card by the end of October!

    Also managed to now the lawns front and back and hoping it doesn't need many more cuts before the end of the year. Part of it is being dug up for extension anyway!

    Dh sorted out playroom ready for build to start so it is looking a lot more spacious in there. We have advertised our current sofas for sale so if they go we can move the sofa from playroom into lounge. New sofa due to arrive in a few weeks and hopefully can also choose and order another one for extension in time for Christmas delivery. Feels like its spend spend spend here at the moment but its all budgeted for!
    Last edited by CathT; 18-09-2016 at 7:13 AM.
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • newgirly
    • By newgirly 18th Sep 16, 7:55 AM
    • 5,081 Posts
    • 35,195 Thanks
    newgirly
    I had problems getting through on every m and s banking phone number yesterday all went through and cut off within 10 seconds, very annoying! It's £440 in gift cards in total for two accounts isn't it over the year - fantastic
    MFW 21
    Target for 2016 £30,000 \ £72,350.11 paid so far

    Mortgage £63,080 5 yrs 8 months left. Total owed £92,893.96. Fridge fund £0

    Weight loss 2016 - 17.25 lb lost 40lb target
    • CathT
    • By CathT 18th Sep 16, 8:09 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Oh no! Feels like it's been along process between setting up new direct debits in an old account and then doing application and switch etc.

    Definitely worth it though! Tempted by their regular saver too if we have anything left to save!
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • debtfreeoneday
    • By debtfreeoneday 18th Sep 16, 7:27 PM
    • 2,239 Posts
    • 7,440 Thanks
    debtfreeoneday
    Great news on the bank switch payout!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • CathT
    • By CathT 19th Sep 16, 6:39 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Thabks debt free, this is an area I don't use to its advatasge but think I'm onto something now.

    No real financial activity, we both get paid this week. We have amended the car repayments as went for a 4 year term but 3 years was only just over £20 a month more expensive. Apparantly we can overpay too, music to my ears!

    Food budget going well this month, I'm still 'trying' to eat healthily but on my budget!

    Complex money shuffle due tomorrow, might not be a before work job anymore!

    Sold our sofa too ready for work in a couple of weeks, playroom looking quite empty now which is the general plan. £25 made and the main thing is that it is gone from the house!
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • CathT
    • By CathT 20th Sep 16, 7:00 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Payday for dh and they have missed off some basic pay and overtime. Getting pay slip before payday adds to the stress! Hopefully he can sort it out today. He has problems most months since they switched to monthly pay.

    78p Tilly tidy, some of the shuffle done.
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • CathT
    • By CathT 21st Sep 16, 8:26 PM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Missing pay hopefully be in resolved but it didn't appear in the bank today, fingers crossed for tomorrow... Or the next day! Money shuffle completed until I get paid on Friday.

    Car being collected on Sunday so need to ring up tocar insurance and cancel car tax and also check if we have overpaid. When I switched the direct debit they started it off as a new one and we had to pay 2 months for the first payment. Going to be missing a direct debit from new m#s account so need to switch one of the charity ones. That's a job tomorrow as they were closed when I finished work.

    Currently planning dd birthday party, I refuse to buy tat to go in party bags. I am pushing it with a piece of cake and a few sweets. Its a party of 24 children so that's potentially a lot of plastic headed for the bin!
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • AlexLK
    • By AlexLK 21st Sep 16, 8:50 PM
    • 5,060 Posts
    • 25,403 Thanks
    AlexLK
    The DVLA automatically sort road tax out after you've sent the log book (V5) in to them. No need to call them.

    Completely agree re. party bags. I usually make a wooden toy for each child but there's not a chance I'd be inviting 24 of them.
    Savings 2016: £9,790.
    £32,000 in debt on 2/9/2013. Debt free on 12/1/2015.
    Saved £11,000 in 2015.

    • CathT
    • By CathT 21st Sep 16, 9:59 PM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    That's useful to know Alex, thank you. Always done it that way in the past but as we pay by direct debit now thought it might be a little more complicated.
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • CathT
    • By CathT 22nd Sep 16, 9:26 PM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Havent achieved everything i hoped for today but I've realised I'm not superwoman.

    Stressful and really busy day at work after a rubbish nights sleep, came home and managed to.... Put washing out (dh didn't get round to it as fell asleep after work - he is working ridiculous hours), do next sale shop, amend charity dd details, complete planning form, amend car insurance. I feel bad that the washing is still on the line and I talked FD out of going to athletics for the second time this week as she is overdoing it and I also really needed to be at home!

    M*S internet banking stuff has arrived so I need to activate and do money shuffle when I get paid tomorrow. Dh has a new payslip so hopefully missing cash not too far behind it!

    It would have been nice to come home and read for a bit!

    Steady trickle of y0ug0v surveys last few days so on target there. Food shop done by DH so need to update totals. Huge pile of post to open that's been building up all week. I seriously need a day in the week just to catch up with myself!
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • AlexLK
    • By AlexLK 22nd Sep 16, 10:56 PM
    • 5,060 Posts
    • 25,403 Thanks
    AlexLK
    That's useful to know Alex, thank you. Always done it that way in the past but as we pay by direct debit now thought it might be a little more complicated.
    Originally posted by CathT
    No, the whole point of the DVLA introducing the direct debit option and making tax payable as soon as there is a transfer of ownership (it's not attached to the car anymore i.e. the remaining x amount of months left out of the year comes with the car if bought used) was to simplify and eliminate the tax disc.

    You need to make sure you insure AND tax the car before driving away. LR did all of this last year ready for me to pick up but this was a new car; not sure how it works if buying used from a dealer.
    Savings 2016: £9,790.
    £32,000 in debt on 2/9/2013. Debt free on 12/1/2015.
    Saved £11,000 in 2015.

    • CathT
    • By CathT 23rd Sep 16, 6:31 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Thanks Alex, we are taking old car in on Saturday for part ex as insurance will expire and new carinsurance will start on Sunday. Increased insuurance to business use on both cars so I can use both of them and policy was an extra £10 for the rest of the year.

    Dh has had his missing pay and payday for me too. Some money shuffling done,more to do later. Sorted out direct debit for m*s account and changed payment date to ensure it goes out in October so that we get our £10 voucher!

    Completed paperwork for council and dh will take that after work and pay the £30 fee. I'm hoping its all sorted in time as the build starts in 12 days!

    Spends for birthday party are adding up, £19 in £land yesterday and spends on party food. Planning to relax after that!

    September spends

    Food. £180.12
    Petrol £154.02
    Last edited by CathT; Today at 7:16 PM.
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
    • newgirly
    • By newgirly 23rd Sep 16, 7:40 AM
    • 5,081 Posts
    • 35,195 Thanks
    newgirly
    I've done the tax online on my iPad whilst collecting the car (once at Someone's house when collecting the mini , once at a dealers) it's pretty quick and easy
    MFW 21
    Target for 2016 £30,000 \ £72,350.11 paid so far

    Mortgage £63,080 5 yrs 8 months left. Total owed £92,893.96. Fridge fund £0

    Weight loss 2016 - 17.25 lb lost 40lb target
    • AlexLK
    • By AlexLK 23rd Sep 16, 11:01 PM
    • 5,060 Posts
    • 25,403 Thanks
    AlexLK
    NG: Done it plenty of times buying privately; tax exempt classics still need to be "taxed". It is a nice feeling not to need to pay money to tax a car, though.
    Savings 2016: £9,790.
    £32,000 in debt on 2/9/2013. Debt free on 12/1/2015.
    Saved £11,000 in 2015.

    • CathT
    • By CathT 24th Sep 16, 8:20 AM
    • 4,794 Posts
    • 32,853 Thanks
    CathT
    Party day today. Looking forward to just having a day out for ds birthday next week!

    My m*s internet details arrived so all money shuffling done! That was quite a job but worth it for £20 a month. Will also have t3sdo account interest I can throw at the mortgage. Am hopeful this effort WILL make a difference.

    Almost single figures until the extension starts and still soooomo much to do!
    June 2010 £121,287
    Sept 2016 £85,887
    WIOTW Sept 94,780
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