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  • FIRST POST
    • Tahlullah
    • By Tahlullah 19th Aug 13, 10:39 PM
    • 833Posts
    • 4,762Thanks
    Tahlullah
    The impossible dream
    • #1
    • 19th Aug 13, 10:39 PM
    The impossible dream 19th Aug 13 at 10:39 PM
    Hello everyone. I am new to the forum, but have been reading for several years. It has been a help and inspiration, but I have never felt the need to get involved until today.


    I have been financially aware for many years and now have set a goal which I know I cannot achieve. My aim is to be mortgage free within 2 years. It is impossible to do, I have read everything, looked at spread sheets, calculated within an inch of my sanity, but I cannot do this without becoming a hermit and stopping Ďlivingí. The one thing the diaries have taught me is that people have great intentions, but after a while, the frugality can become grating and somewhat depressing and so the aim becomes a chore.


    As I still want to live my life to the full, I am not prepared to give up all luxuries; I do not have any debt and I do not overspend. I regularly have no spend days, sometimes going a whole week without letting the moths out of my purse for air! I donít smoke, drink in excess, have a gym membership, shop frivolously for food; Iím not into handbags, makeup, shoes or clothes. In fact, I am the most boring person I know. But I do like holidays!


    I bank with F.Direct, in my opinion a great bank. The mortgage is an offset. I already overpay, but I cannot seem to find any other substantial spare cash to over overpay with.


    I already save bits of change, xbay, Tilly Tidy, use the sweep function to put extra bits into the mortgage, whilst maintaining a small amount of savings. I decided I preferred to pay off the mortgage than save as I feel better about watching the capital reduce.


    I made my decision to do the impossible and this weekend, conjured £200 out of nowhere to overpay on top of what I normally pay - cashed in my £2 coins. Now, I have come to a dead stop and hit a brick wall. No more conjuring until payday!
    So, I am going to keep this diary to help me to focus, and see what progress I can make out of nothing at all. I am going to aim at reducing my capital by £500 by the end of the financial year, in addition to my normal mortgage payments, without having a substantial negative effect on my way of life.


    I am going to take small steps. I shall begin by trying to xbay or Gumtree anything that is not tied down, including the cat if anyone will pay me for him. I will continue with my sweep every month. I will continue with my no spend days. I will continue to collect change in the hope of knocking small amounts of the amount owed, so I can see a difference being made.


    The spread sheets say I could be mortgage free in 4.5 years. I would like to be free in 2, by my 50th birthday. I could stretch it to 3 years as I am still technically 50 until I am 51! I am committing to posting once a week, even if to say, I have made no progress. Hopefully, someone will be able to inspire me to great heights.


    Thank you for your help so far. Let the games begin.
Page 13
    • armchairexpert
    • By armchairexpert 2nd Aug 17, 2:04 AM
    • 740 Posts
    • 4,874 Thanks
    armchairexpert
    I'm sorry I missed your last update, Tallulah! I hope the hearing goes your way and it can be put to rest, and in the meantime you're doing a great job of keeping things in perspective.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    December 2017 - $214,653.00 Current MFD 31 July 2035
    • Tahlullah
    • By Tahlullah 16th Aug 17, 5:50 PM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Haven't been on here for a while. Probably because I have nothing to say. Everything going the way it should be. Payments continue to be made. I am maintaining my overpayment although I am not sure I will make to £40k by the end of the year. At £45,500 this month. Had to use some of my money to pay legal fees. Never good, but great I can afford it without it affecting my current mortgage balance.

    Getting ready for my holiday and shocked as to how much it is costing. Holidays are definitely getting more expensive. However, following YNAB and the budget and ensuring I have regular NSD's with thoughtful consideration if I need something rather than want something, so living within my means.

    Still hoping for the big lottery win. Bought a Health Lottery Ticket the other day. No luck. Postcode lottery not doing anything either, nor are the Premium Bonds. Still, you have got to be in to win.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 7th Sep 17, 9:05 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    On the countdown to the holiday. Everything accounted for and ready to go, but I am not so naive to think that I won't overspend. Yes, I have money set aside for spending, but if I am going all that way, I intend to enjoy myself and not be thinking 'oh, if only I had an extra £20, I could do that'. Not very MSE but this is a holiday of a lifetime. I won't come back in major debt, not my thing. But I am prepared to overspend to make the most of the holiday. Would be by £200 at the most I would think.

    So, holiday booked for Kitty, just need to finish work and pack.

    MFW still progressing well. Everything on track. No doubt, if I spent on nothing beyond the basics in life, the mortgage would be coming down faster than it is. However, I am determined to try and enjoy the journey, rather than just focusing on the point of arrival.

    My aim has not changed. I still plan to begin January 2018 with a mortgage of £40k. It is currently at £44,400.

    All good. Counted my £2 coins at the weekend and I am at £98. Didn't bother counting the .50p coins. It's just nice to know that if needs be, I have cash on hand to keep me for a while so I wouldn't have to withdraw anything from the bank. May have to fall back on this when I come back from holiday.

    YNAB working well. Serviced my car last week and had the money to pay for it in the savings pot. Will need new front tyres when the MOT is due in December, and that is accounted for as well.

    What I didn't account for, how could I forget??? was car insurance. I pay for it in one go, so I forgot to set money aside for it. Due in October. Hopefully, I will be able to 'find' the money for it and then start saving for it in YNAB.

    Otherwise, all seems to be going ok.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • armchairexpert
    • By armchairexpert 11th Sep 17, 3:38 AM
    • 740 Posts
    • 4,874 Thanks
    armchairexpert
    Makes sense to me. I have in the past cheaped out on holidays through a sense of general guilt that I shouldn't be spending this much, and I regret some of those decisions several years later. Go, have fun, you won't go crazy but it's worth getting the most out of it.

    Sorry about the car insurance. I think it must take a whole year to get the hang of YNAB. I've been doing it for six months now and there are still things - usually annual - I suddenly realise I haven't accounted for.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    December 2017 - $214,653.00 Current MFD 31 July 2035
    • Tahlullah
    • By Tahlullah 5th Oct 17, 9:54 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Back from my jollies. Had a great time and am totally skint!

    Overspent on budget as predicted by £300. Add this to the visa bill I was already clearing, it's not too shabby. Just need to follow the new regime to clear this in incremental affordable instalments, which I can afford according to YNAB.

    Everything else in budget and payments being made. Still on track to begin the New Year owing £40k on the mortgage.

    Very aware that Christmas is nearly here and so will enter a financially challenging period. Add that to the Grand Debt that will no doubt appear in its entirety at some point within the next 6 months, I am feeling optimistic.

    Priorities for the next 5 years.

    1. clear the visa bill - aiming to pay it off at £100 per month.
    2. pay off the whole mortgage. This is impossible in light of priority 3, but being forever a dreamer, aim to be cleared within the next 3 years.
    3. pay off the Big Debt. I am anticipating about £20k at worst. If this much, all desires to clear the mortgage early go out the window.
    4. remain in employment. This still looks tenuous, but no point in worrying about it now, it hasn't happened yet.

    Outside of those priorities, keep making the regular over payments of £1k per month on the mortgage.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 18th Oct 17, 8:41 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Definitely been off the boil a bit since returning from my holiday. To be honest, everything isn't expensive, I am just spending at a rate. Its coming up to Christmas, it's Halloween, bonfire night, a plethora of birthdays etc all rolled into the winter season, where you want to comfort eat. Added to that, I am preparing for my winter holiday, which means new snow boots and paying for the actual holiday; so a lot of money is leaving my account.

    I need to focus down again and begin to live more frugally. On the plus side, I am attempting to ebay some of my stuff, not that it is selling.

    I am still having my NSD's and saving my coins when I come across them. But this does not balance what is going out.

    Checked to see if I should switch my electric - am already on the cheapest rate with the cheapest supplier. Looked at the car insurance, house insurance, everything and no money to be made with a switch.

    Nope, just have to stop spending.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 27th Oct 17, 9:20 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    New tyres, brake pads and discs and MOT needed for the car. Plus Christmas.

    These 2 things will take all the money I have been saving. Haven't been saving long enough to build a pot big enough for all the outgoings, but something is better than nothing.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Welshlassie
    • By Welshlassie 27th Oct 17, 10:52 AM
    • 1,723 Posts
    • 2,988 Thanks
    Welshlassie
    I know that feeling my car needed a new drive shaft yesterday and it was touch and go whether we repaired it or not - its 15 years old but had only done 65k miles. We decided to repair it (altough there wasn't enough money to cover it I've WAM'd from all over the place) and keep an eye out for a new car, although I'm looking for a new job and it might come with a car so don't want to rush into anything.
    • armchairexpert
    • By armchairexpert 28th Oct 17, 1:20 AM
    • 740 Posts
    • 4,874 Thanks
    armchairexpert
    Oh, cars are the worst. I got rid of my old one earlier this year precisely because it was costing me $1-2,000 a year in repairs and servicing. Crazy. But at least you've been saving, as you say. Once Christmas is done, we'll all find it easier again.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    December 2017 - $214,653.00 Current MFD 31 July 2035
    • Tahlullah
    • By Tahlullah 8th Nov 17, 10:12 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Chipped my tooth badly chewing on a perfectly cooked lamb chop. I don't have an NHS dentist so this will cost an arm and a leg in cosmetic repair work.

    However, still inching towards meeting my end of year target of starting January with a debt of £40k. What happens after that is anyone's business, but I will have achieved my aim for the year. Then, New Year, new targets.

    Still have £100 in £2 coins to go towards Christmas, so the sealed pot challenge has been good. Not very sealed but not plundered either.

    Have £100 of vouchers from Shop and Scan for Christmas presents. Have all my Tescos vouchers ready to contribute to the big shop, around £60.

    All in all, could be worse. Still haven't bought the brake pads and discs for the service and MOT but have got the tyres. Will buy them this week and then book it in next week, or I will lose a months MOT.

    Still trying to ebay stuff but nothing selling.

    Onwards on upwards.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 14th Nov 17, 6:13 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Got scammed on ebay for the first time. Not a major issue, should have known it was too good to be true. Bought and paid for the item, and immediately, the account was closed down. It was a new account, but everyone has to start somewhere.

    What is bad is ebay is terrible for trying to report the matter. They really don't want to know. No worries, will get the money back eventually. Perhaps I should just think of it as a short term savings account which I can get my money out of just before Christmas.

    Shame about the present though.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 2nd Dec 17, 12:55 PM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Last month of the year and time to evaluate.
    Lots of money going out on things unexpected to a degree. Dental bill has come in and needs paying at £250. Just bad timing.
    Car MOT dealt with for £100 which was on top of the service items - tyres and brakes.
    Still not got my money back from ebay but no worries as it will come through.
    Christmas works party coming up so that will be expensive.
    On the plus side, £100 in £2 coins helping with shopping.
    Saved £110 in Shop & Scan vouchers which are helping towards Christmas presents.
    £30 in nectar points to be spent at Sainsbury's.
    £69 on Christmas food from Tesco vouchers.
    Saved an extra £1000 so will be starting the New Year at £40,000 mortgage. A great success.
    YNAB really helping with understanding what I am doing with my money and allowing me to make decisions rather than just reacting to unexpected expenditure.

    Next years target will be to pay off one of my mortgages, so I hope to repay £12,000 or £1000 a month.

    Threats include my holidays which I don't wish to skimp on and this Grand Debt which is still hanging on like a bad smell. Job is still at risk but not worrying about it until it happens. Been here before and no amount of worry can change the direction of fate. All I can do is stay focussed on overpaying the mortgage as and when I can, whilst enjoying life to the full. Still on target to pay it off before I am 56.

    A good ending to an interesting year. Bring it on 2018.
    Last edited by Tahlullah; 05-12-2017 at 8:36 AM.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 13th Dec 17, 8:01 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    The momentous day is here and I made the £1k payment into the mortgage. I am officially at the £40k point, with only £12k to go on Mortgage 1. So with good luck, by 1 January 2019, I will have paid off Mortgage 1 and owe £28k maximum.

    Have joined MFW to keep me on track with this plan. Also, with a bit of help from Tall Girl, I am joining Money Box. Lets see if this works out for me. I don't do a lot of spending anyway, but every little helps.

    Money back in from Ebay. Been spent on presents as planned.
    March winter holiday fully paid for with spending money put aside.
    Only the big debt to deal with. At the beginning of this year, I was hoping it would have been over in 6 months. Instead, here I am going into a 2nd year and it still looms large. But, this too will pass. Perhaps not as quickly as one would hope. And perhaps at a higher cost than desired, but it will pass.

    All good.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • TallGirl
    • By TallGirl 13th Dec 17, 9:07 AM
    • 4,226 Posts
    • 8,752 Thanks
    TallGirl
    Good lunch with it all seems you have a good plan and hopefully worst case scenario won’t happen with big debt. Re Moneybox shame there is no cash back or refer a friend but nice little app and would be good for non MSE folks who might not look at their bank statements or analyse their money.
    Save £12k in 17 no 93 £11750/£12k Pay off wasted money £1637£10k
    • Tahlullah
    • By Tahlullah 3rd Jan 18, 7:12 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    New Year and off to a spendy start. Finally bought the new work bag I had been wittering about only because ebay had a great deal on - save 15% using their code and then bought through Top Cashback. Bought a pair of boots as well but not sure of the quality. Look nice but not likely to last a year.

    2 NSD's so far (one was a Bank holiday!) but I need to go and get some essentials in, such as vegetables. Still have a cupboard full of stollen and chocolates so won't starve.

    Hoping to make a £100 overpayment this month. Not got a lot of spare money as still stabilising after the Christmas period. I tend to do all my purchasing for the year in one go, then just top up when needed, so the bag and a pair of boots should be all I need for a while.

    Have a list of things to ebay but will wait until February, after the Christmas offload and when people have a bit more money to spend. Setting a target of making £50 per month. Hopefully, this should increase my overpayment by £600 over the year. However, the £50 can be made in any form so may not be cash to pay into the mortgage, it may just create a situation where I don't need to spend because I have saved. Not sure if the save £600 will work but worth a try.

    Its a plan.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 7th Jan 18, 12:02 AM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Joined Swagbucks. Been an entertaining day. It ill take an age to get anywhere with it but I will persevere. Been watching videos. Not sure how many points you need to earn £10 but I can guarantee it is way more than I have collected so far.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • armchairexpert
    • By armchairexpert 7th Jan 18, 1:40 AM
    • 740 Posts
    • 4,874 Thanks
    armchairexpert
    Waiting until February is a good idea. Jan is definitely a buyer's market (note to self: do I need to buy anything off eBay?).

    I missed your milestone post up thread, sorry! I can't believe your mortgage is so tiny. I'm so jealous. Well done!
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    December 2017 - $214,653.00 Current MFD 31 July 2035
    • Tahlullah
    • By Tahlullah 7th Jan 18, 12:12 PM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Thank you ACE. No worries about missing my milestone. Not as exciting as paying off the mortgage completely, which is still a few years away unfortunately. But I will be beyond ecstatic when I get rid of Mortgage 1 next year December. Actually, I can't get rid until March '19 as I am currently in a 2 year fixed deal and it doesn't end until March 19. If I pay it off in December '18 I will incur a penalty, so I can only get to the point of owing £50 in December and then close it in March 19. I am so excited about this!

    Anyway, Swagbucks. I am currently watching videos about coffee. I must admit this seems like a lot of work to make money compared to the other stuff I do, such as passively collecting Tesco clubcard points, Nectar points and Shop and Scan. Here, I have to make an effort to do something I wouldn't ordinarily do. Also, it is far more intensive than YouGov. I will see how long it takes me to get to my first £10 and then decide if I should keep gong.

    Still having NSD's and starting afresh with collecting £2 coins. I think it takes 4 years to collect £100 worth of £2 coins so this will be an added help in December 2021. But the 0.50p coins may be at £100 by December 2018 so it may all work out ok.
    Last edited by Tahlullah; 16-01-2018 at 8:38 AM.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • Tahlullah
    • By Tahlullah 16th Jan 18, 11:38 PM
    • 833 Posts
    • 4,762 Thanks
    Tahlullah
    Just realised that in April 2018, I will be back to where I was in August 2013, owing £36,000. It has taken 5 years to repay £64,000. It has been a long hard struggle, but I only have a further 3 years to go - hopefully.

    So, I have been having NSD's. I managed Sunday and Monday this week. I am still doing my YouGov, Shop & Scan and Swagbucks. I am still collecting coins when I can, but this remains difficult when not spending. I am still squirrelling bits away into MoneyBox. I am walking to work when I can to save on petrol and to get a paltry amount of exercise. I am sticking with YNAB, which means I never overspend on my budget but it also shows me I have no spare money to do anything except pay the known knowns. The unknown unknowns are another matter, but I pretty much have them down and am budgeting for them.

    In one years time, I will have paid off my car finance, so more disposable income will be available. This on top of paying off Mortgage 1, so I very much see 2019 as The Year of the Tahlullah. I just need to carry on doing what I am doing, generating small amounts which help what little disposable income I have go further, even if it doesn't actually go into the mortgage overpayment pot. It ensures I can overpay the mortgage as I planned without it becoming a big struggle.

    So, my plan for the rest of January - to have a minimum of 8 NSD's and I must walk to work at least 2 days per week. I earned and bought a £5 Argos voucher on Swagbucks. So I plan to earn another £5 by the end of January. I have been listing 1 item per day on ebay. I don't expect them to sell, but its about getting into a routine. I find ebay a real chore, so if I can get a rhythm, I may succeed in selling something come February. Just running out of obvious things to sell and obvious things to do to save money to help me overpay.

    I keep reading one recurring question on these forums - what will you do once you are mortgage free? Answering that question has helped me realise that I am paying off my mortgage for another reason beyond not giving shed loads of money unnecessarily to the already rich banks. I am paying it off for me. The sooner I can pay off the mortgage, the sooner I can get away from this job that I am coming to realise I hate.
    Striving to be mortgage free.
    2018 MFW #135

    £100 of £2000
    • gallygirl
    • By gallygirl 17th Jan 18, 8:22 AM
    • 16,470 Posts
    • 108,141 Thanks
    gallygirl
    I am paying it off for me. The sooner I can pay off the mortgage, the sooner I can get away from this job that I am coming to realise I hate.
    Originally posted by Tahlullah
    Choices, choices, choices . Will be there soon and then............. https://www.youtube.com/watch?v=BCn7Kp2M8Cc .

    Keep on keeping on, not long to go x
    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"
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