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  • FIRST POST
    • CathT
    • By CathT 2nd Sep 10, 11:22 AM
    • 4,888Posts
    • 33,485Thanks
    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
    Nov 2016 £84,680
    WIOTW Nov £92,214
Page 189
    • Muser1
    • By Muser1 2nd Oct 16, 7:23 PM
    • 757 Posts
    • 3,896 Thanks
    Muser1
    I've purchased some yummy slippers from Priiimmmarrk today for £4. So warm and fluffy. Really pretty too. Feet currently overheating! I'm hoping to get to the 1st November.
    Mortgage Jan 13 99260.00 Nov 16 88800.34
    Emergency fund 2500.00
    • newgirly
    • By newgirly 2nd Oct 16, 8:01 PM
    • 5,216 Posts
    • 35,913 Thanks
    newgirly
    I've just bought some knitted type pjs from primarni, is it a sign of old age to be far more excited about new slippers and pj's than clothes
    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.

    Weight loss 2016 - 18.25 lb lost 40lb target
    • Pearla*Merle
    • By Pearla*Merle 2nd Oct 16, 8:22 PM
    • 1,515 Posts
    • 8,776 Thanks
    Pearla*Merle
    I got some pjs from Primarchè today as well
    a penny picker upper. every penny's a prisoner!
    £26.65 til OnePoll payout! Round six! | Save £2950/£15,000
    Normality is a paved road; it's comfortable to walk, but no flowers grow on it.
    Whatever you're meant to do, do it now. The conditions are always impossible.
    The only thing you absolutely have to know, is the location of the library.
    • CathT
    • By CathT 2nd Oct 16, 9:11 PM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    SJ, naps are definitely the way forward. Have struggled without one today!

    Feeling deprived of new slippers and PJ's!

    Absolutely shattered today after our trip to a theme park. The children had a brilliant time though and were fine as they fell asleep just after being strapped into car seats!

    Called for school she's on way back as were near our outlet village. £15 saved on shoes and no extra petrol expenses. Dd insisted on patent shoes so I tried to persuade her to stop climbing when she's wearing them. She's probably now more likely to scuff them playing football!

    Building work starts tomorrow, have no idea what to expect when I get in from work!
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • lulabelle1
    • By lulabelle1 3rd Oct 16, 11:56 AM
    • 2,604 Posts
    • 16,602 Thanks
    lulabelle1
    Good luck with the building work, exciting times!!!
    • Moneyfordreams
    • By Moneyfordreams 3rd Oct 16, 1:51 PM
    • 645 Posts
    • 3,043 Thanks
    Moneyfordreams
    good luck with the building work... very exciting
    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 £168060
    Car loan finished oct 16
    h@lifax CC £5360 0% until May 2018.. will pay minimum for now, slow stooze
    • Brodiebobs
    • By Brodiebobs 3rd Oct 16, 5:02 PM
    • 726 Posts
    • 3,017 Thanks
    Brodiebobs
    Also on the no heating band wagon, was looking longingly at fleecy pj's at the weekend. Will have to invest!!
    Had the fire on, but we collect free wood all year so i can live with that!
    Addicted to MSE.
    Overpaying mortgage for a better debt free life!
    • CathT
    • By CathT 4th Oct 16, 6:37 AM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    Thanks Lulabelle and mfd, can't believe it's finally happening! Windows finished yesterday but they need to come back to fit something to our door as it is 'on order' apparantly. Will chase that up and hopefully the bill can wait a few days so i can clear the current cc balance and save a little bit of interest.

    Re-read text and realised roof being done today, it's worked out well actually or we would have had workmen fighting over driveway space.

    28p tilly tidy yesterday and sold dd brownies uniform. It's a shame she lost interest in going but she is currently super busy with new activities. Now have £37 towards new bedding and curtains for main bedroom and can sell the digger curtains that are still hanging up!

    Still going strong re: heating brodiebobs! The electric fire is also staying off! Will get the hot water bottles out before resorting to the heating!
    Last edited by CathT; 04-10-2016 at 6:40 AM.
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • CathT
    • By CathT 4th Oct 16, 6:38 AM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    Also debating a new diary as so much has changed since starting this one and we will have a new journey paying off additional borrowing in the new 'dream house'
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • Tilly MFW in 6 YRS
    • By Tilly MFW in 6 YRS 4th Oct 16, 8:07 AM
    • 7,604 Posts
    • 84,964 Thanks
    Tilly MFW in 6 YRS
    Morning CathT, hope all goes well with your extension. New car sounds exciting too. Lots going on for you - just imagine, won't be long and you'll have a finished house to admire. CH on, snuggled on the sofa and it will be done.

    Good luck, Tilly xxxxx
    2004 £387k 29 years - MF March 2033 2011 £309k 10 years - MF March 2021.
    Goal: 28/08/15
    • gallygirl
    • By gallygirl 4th Oct 16, 9:54 AM
    • 16,030 Posts
    • 105,206 Thanks
    gallygirl
    Good luck on building work - ours starts next Monday .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 4th Oct 16, 5:45 PM
    • 3,669 Posts
    • 34,115 Thanks
    Secret Saving Squirrel
    I feel very lazy compared to all of you. We desperately need to do work but can't face it. Good luck with it all.
    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 5th Oct 16, 6:57 AM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    Morning CathT, hope all goes well with your extension. New car sounds exciting too. Lots going on for you - just imagine, won't be long and you'll have a finished house to admire. CH on, snuggled on the sofa and it will be done.

    Good luck, Tilly xxxxx
    Originally posted by Tilly MFW in 6 YRS
    Can't wait for it to be finished. Its going to be worth the few months of disruption

    Good luck on building work - ours starts next Monday .
    Originally posted by gallygirl
    All systems go GG!! Thank you.

    I feel very lazy compared to all of you. We desperately need to do work but can't face it. Good luck with it all.
    Originally posted by Secret Saving Squirrel
    I'd not bother SSS,keep travelling

    60p Tilly tidy, £5 hally reward sent to t3sco cc. T3sco current account should be paid today so will send that as an overpayment once I see it in the accounts.

    Still need to read Meter readings which is dh job due to resident spider in the meter box. Am trying to sort childcare out for Christmas period, its no fun when every where is closed and you still need to work! Hopefully sort it through juggling and compromise.

    Very glad its Wednesday,found yesterday very stressful and had another bad dream. Really need strategies to switch off from work and leave my stress and worry in the office. I usually use my commute to help with transition but it doesn't work anymore!
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • CathT
    • By CathT 6th Oct 16, 8:57 PM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    Almost-the-weekend.

    £7.29 t3sco interest so topped up to £7.50 and paid off mortgage.

    Meter readings still not done!!

    25p on y0ugov this morning.

    Extension officially started! The joiner was here today starting the garage roof and I can't quite believe it's finally being done!

    Spends update

    Food. £129.68
    Petrol £115.04
    Last edited by CathT; 18-10-2016 at 6:13 AM.
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • CathT
    • By CathT 8th Oct 16, 7:40 AM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    It's the weekend j

    75p on y0ugov this morning, up to 1350 on there so still on track for 500 a month.

    Meter reading submitted and some good credit built up.did have the CH on for about half hour last night to dry some washing but the house got too hot! The washing had been on the line but think I'm kidding myself if I think I can line dry washing at this time of year! We've had problems with the boiler just switching itself off and needing to be reset which happened again. Think it might be time to get boiler cover especially as it's not new anymore (4 years old).

    Small food shop and spends updated. Building work is well underway, joiner has worked solidly for 2 days on the roof, declined offers of hot drinks and tidied up after himself. The messy and major work starts on Monday! I am not looking forward to the dust! Lots of prep to do today to get the area ready.
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • newgirly
    • By newgirly 8th Oct 16, 9:43 AM
    • 5,216 Posts
    • 35,913 Thanks
    newgirly
    Did you say declined offers of hot drinks
    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.

    Weight loss 2016 - 18.25 lb lost 40lb target
    • greent
    • By greent 8th Oct 16, 4:59 PM
    • 5,192 Posts
    • 52,294 Thanks
    greent
    Surely that's unheard of in a tradesman?!?! I'd say 90% of them here seem to have 2 (urgh) sugars in their tea, too!!

    Fab news re it all moving ahead!

    No CH here - haven't even thought about it yet. Still have summer 4.5tog duvet on too - although have added a throw on top last night. Currently wearing a tshirt - although have progressed to long jeans as opposed to 3/4 Was planning on holding out until Nov if possible - depends if weather turns (has been beautiful here this week)

    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 £772.06/£500
    Dec grocery spends £0/ £480 NSDs 2/12
    • CathT
    • By CathT 9th Oct 16, 10:46 AM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    I was shocked too, I'd bought coffee and teabags for this purpose! (I drink de-caf coffee). Another team of builders here tomorrow so surely someone will drink it? Glorious day here today so hoping to get the last of the washing done.

    Went to dun3lm with my £37 and spent £109!! I do have new beautiful bedroom items. Who knew curtains cost £54 small top up shop done and I've convinced dh we can survive on £37 cash until payday - only 11 days away.I've found we really consider our purchases when using cash.

    T3sco interest paid on dh account £6.56 so topped up to £7 and sent as a mortgage OP. Spreadsheet updated and annoyingly it didn't knock a month off!

    Flooring reserved online and collected from h0m3base. Just under £200 spent.

    The rest of the day will be spent moving as much as we can to prevent it being covered in dust tomorrow!
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • CathT
    • By CathT 11th Oct 16, 7:36 PM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    What a busy week, I'm sure my evenings are getting shorter! Awake since 4:30am but managing surprisingly well.

    To sum up the last few days....
    £57.50 on swimming lessons for remainder of term
    32p Tilly tidy
    £2.60 leftover in bills account and sent to t3sco
    £40 made in bookface sales

    Student loan statement came through and I was pleasantly surprised to see the balance coming down! A quick play with a spreadsheet shows an estimated end date of January 2029. I factored in incremental payrises which reduced the term to may 2025 and yearly 1% payrises knocks another 2 months off to March 2025.

    If I then overpaid the student loan deduction amount off mortgage part 2 it would knock over 5 years off. Potential end date would be march 2034 and part 1 is about January 2029. Thought I might set a target of paying both parts off by December 2028 which means just over 12 years to go.

    This has given me some ideas of a new diary title!
    Last edited by CathT; 11-10-2016 at 8:18 PM.
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • CathT
    • By CathT 13th Oct 16, 6:27 AM
    • 4,888 Posts
    • 33,485 Thanks
    CathT
    Not much happening financially, one week until payday for us both.

    Current spends on food and petrol at £161 - not bad considering we are almost halfway through the month

    Building work well underway. Roofers were here yesterday and due again today to finish off. Joiner back on Saturday and we have asked him to do a small job for us that is causing damp/mould issues in the box room.

    Builder here tomorrow to put in steel and knock wall down! We will finally be able to see the space we hope the works are going to give us. I'm expecting it to be pretty cold and dusty over the weekend though!
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
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