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  • FIRST POST
    • sammy70
    • By sammy70 24th Sep 13, 4:58 PM
    • 482Posts
    • 1,314Thanks
    sammy70
    our forever patch challenge
    • #1
    • 24th Sep 13, 4:58 PM
    our forever patch challenge 24th Sep 13 at 4:58 PM
    well, this week sees the new start to my mortgage free plans. After 18 months clearing debts, then paying for our wedding, which took most of our hard earned savings, we are at the beginning again.

    Due to restructure at work, OH is on a reduced monthly pay, so the savings are even more of a challenge!
    Our plan is over the next two-three years, build up savings , and make over payments, untill we have enough saved to clear the outstanding balance owed on our mortgage, then sell this house, and use the sale proceeds as deposit on our "forever home", we really want somewhere with an acre or so of land, to allow me to have my own horse again, and OH to have garage/workshop he has always wanted.

    we both get paid this week, i will open new savings online, and let the challenge to get our new home begin!, we get married on Friday, this will be the start of our married life adventure too, !!
Page 29
    • sammy70
    • By sammy70 27th Oct 17, 7:02 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    yey! overpayment day!!
    today was hubbys payday, mine was 25th. After all the bills were paid, I bought us another £250 of premium bonds, we now have a total of £14,650

    I paid £413.97 off roof costs

    And best of all, a massive £400 overpayment to the mortgage the new balance now is £231,500

    Unfortunately it doesn't look like the promotion will happen, but I'm staying positive, I'm looking at other ways to raise extra funds to overpay ..

    The new total for overpayments since we started , 28th November 2016 is- £5,250.67
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • sammy70
    • By sammy70 28th Oct 17, 2:34 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    Just finished my usual Saturday morning chores

    Its very windy, and showery here today, so washing is back indoors drying hung on my old wooden dryer suspended in the roof of the porch, where our stove is warming the house, alongside drying our washing


    I'm planning my next overpayment for Wednesday, after the standard payment has gone out, and the interest has been added, not a massive one,just rounding the balance so it ends in a zero! every little helps, and it makes me feel better seeing a nice rounded figure..

    This month I plan on sticking with my meal planning, and taking cash out each week for this, paying with cards doesn't work for me as well, I just don't seem to spend as much when I'm handing cash money over.

    Ive got myself a sealed tin for my mini challenge starting December, to end December 2018, saving spare change from shopping/spends each week. My 2 year fixed rate ends December 2018, and I plan on using the tin cash for my last overpayment of 2018, before the new mortgage starts.

    I want to get the LTV as low as possible, to get as good a deal as we can, I'm planning on a 5 year fix if we can, then continuing making as many overpayments as possible , my target for next year is £8,000 , I think we will meet our £6,000 target for this year by December, which I think is great, considering how much we have had to pay out for fencing, workshop etc..
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • pawlala
    • By pawlala 28th Oct 17, 3:15 PM
    • 1,227 Posts
    • 3,276 Thanks
    pawlala

    I'm planning my next overpayment for Wednesday, after the standard payment has gone out, and the interest has been added, not a massive one,just rounding the balance so it ends in a zero! every little helps, and it makes me feel better seeing a nice rounded figure..
    Originally posted by sammy70
    ahhh, a tilly tidy!
    Mortgage free I: 8th December 2009!
    Mortgage free II: New Year's Eve 2013!
    Mortgage free III: Est. Dec 2019...
    • try harder
    • By try harder 2nd Nov 17, 7:18 AM
    • 528 Posts
    • 1,681 Thanks
    try harder
    I have been looking for one of those airers to put over my aga i have quite a large space so needs to be fairly big and they seem quite to be quite hard to find .I have a lovely big three gate victorian pine standing in front of the aga which i use all the time and love.
    You have done so well this year ,great overpayments and so much work on your lovely home really well done.
    • sammy70
    • By sammy70 8th Nov 17, 8:00 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    Well, here we are in November, im been missing in action, a busy weekend just flew by, it was my 47th birthday on the 5th of this month, and to celebrate my first birthday here we had a bonfire, burgers, a lovely cake and lots of nice beverages to celebrate shared with our son, daughter and their partners, was perfect!

    Thanks for your lovely comments tryharder, the airer was my grans, when she passed away her home was sold to someone who wanted to fully modernise it, so i saved it from being ripped down and disposed of, she had it when i was small , i remember hiding in the steaming hanging sheets in her kitchen!

    on the mortgage front, the standard payment of £1208.83 went out on the first of december, the interest for October was £421.07, daily that was £13.58
    This left a balance of £230,712.24 , which after my rounding off (i couldnt resist as usual) payment of £12.24, leaves our outstanding mortgage balance at £230,700
    As usual, im sticking to meal plans, and thanks to loads of my favourite tipple being bought for my birthday , and goodies, i wont have to buy any weekend drinks for weeks!
    Last edited by sammy70; 08-11-2017 at 8:03 PM.
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • sammy70
    • By sammy70 11th Nov 17, 10:30 AM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    and relaaaxxx
    [B][/B hubby is working this weekend, but on the plus side, we are off monday to thursday together next week, these will be our last holiday days until xmas

    This morning ive just worked out our meal plan up to pay day (mine first, 25th), so the next two weeks i plan on using up everything in my small but full to bursting freezer, and pantry, with only a weekly top up shop for essentials and fresh items.

    Im aiming this month to go all out and pay off a £750 overpayment , to reach our target for 2017 0f £6000 in overpayments

    Decembers pay will then be used to pay off a large lump of the roof costs, i had aimed to clear this by xmas, but then decided i couldnt cope without my monthly fix of a large overpayment to the mortgage , so compromised with 50/50 split on all money to each of them.

    Im excited for 2018, we have lots of plans , building my stable, getting more land cleared and usable, getting chickens, hopefully sheep too, and fencing areas for our animals . Of course, the first job before any critters can arrive is fencing! we dont want escapees

    All of the plans of course need careful planning and budgeting, and we need to earn the cash to pay for it all, and of course continuing our journey to mortgage freedom..

    Right, off to get stuck into chores, followed by a walk with my little dog. Happy weekend everyone
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • try harder
    • By try harder 11th Nov 17, 11:26 AM
    • 528 Posts
    • 1,681 Thanks
    try harder
    All sounds wonderful sammy70 .You have a good weekend too and a nice holiday ,i expect you will find plenty to do .
    • sammy70
    • By sammy70 15th Nov 17, 12:23 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    target for 2017 met!
    Wahey, after overpaying £750 yesterday, we h ave now met our 2017 target, our total overpayments stand at £6012.91

    You might wonder, how i did this before payday?? weelll.....
    I did our budget calculations based on overtime done etc, and i calculated we had enough cash after bills to overpay £750, and £350 to buy premium bonds, soo i couldnt wait, as i cashed my regular saver that i save xmas money in, and the balance was £900, i 'borrowed' £750 0f this to overpay, after all, i dont need the xmas pot until after payday, AND it means £750 less to pay interest on a little earlier..

    Yeyy!
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • try harder
    • By try harder 15th Nov 17, 6:28 PM
    • 528 Posts
    • 1,681 Thanks
    try harder
    That was a very clever idea sammy70 ,just the sort of thing i do .Well done .
    • gallygirl
    • By gallygirl 15th Nov 17, 7:27 PM
    • 16,460 Posts
    • 107,869 Thanks
    gallygirl
    Love a bit of financial jiggery-pokery . Well done
    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"
    • sammy70
    • By sammy70 16th Nov 17, 7:38 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    Thanks Gallygirl and Tryharder for the kind comments!

    Hubby and i are really pleased with our progress. Seeing the difference overpaying makes to our mortgage term makes the extra effort so worthwhile

    We have been discussing our next twelve months plans for our land/house, and also little extra ways to make savings.

    One thing im dropping is works lottery and bonusball. Im thinking the £6 a week i currently spend would be better used as an extra small weekly overpayment, i will have to get my excitement of seeing if we are winners from checking the premium bonds once a month, and best of all the money invested in bonds isnt gone like buying lottery tickets
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • sammy70
    • By sammy70 25th Nov 17, 11:25 AM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    its the weekend!!
    Work has been a mixture of ok, and craperooney this week

    My payday yesterday, hubbys tuesday. There wont be any surprises, just shuffling money to the correct accounts, including paying back xmas money 'borrowed' for early overpayment

    I had a little cash surprise this week, i paid my last £3 for our bonus ball at work, and let the guy know i was packing in, thought it only fair to give a weeks notice, and i won! so glad i gave notice, £41 in the kitty, and from now on the £3 will be going in the 2018 extra overpayment pot. Ive also let everyone know the works lottery ends 23rd december, so after that another £3 a week to the pot
    i felt a bit awkward cancelling these, as everyone seems to think you are just being stingy. since we got our new house in general some work colleagues have been off with us, i think its a bit of jealousy, but if you try to explain that we got our house by saving/overpaying on our old house, and that while they buy new cars/go on holidays/nights out etc and we dont thats how we do it, i think they just dont get it, so i keep my mouth shut, its not worth it .
    No doubt if we reach our goal in 12 years of paying off this mortgage and going part time, people still wont get how we do it, ive found in the past if you try to explain how overpaying and prioritising short term going without what they class as needs, and we class as waste of money/luxury, people think you ere either weird, or tightfisted, you generally get the 'live for today, whats the point of paying debts off early you could die tomorow' response, so i dont waste my breath anymore.

    Anyhow, must crack on with some housework! we awoke to a winter wonderland this morning, snow!! winter is here!
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • EatingTheElephant
    • By EatingTheElephant 25th Nov 17, 1:14 PM
    • 1,163 Posts
    • 6,240 Thanks
    EatingTheElephant
    Congratulations on reaching your OP goal

    We are off to collect wood from our little copse this afternoon and I’ve just caught up and read about your wood collections too. Are you planning to replant any trees to replace the old ones? I’m trying to decide if/when/how we replant any so would welcome any thoughts!

    I’m thinking we could plant some Christmas trees at some point too, that could save some pennies
    • sammy70
    • By sammy70 25th Nov 17, 2:14 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    hi ETE, wood collecting/chopping/storing is our weekend pursuit at the moment. We have ALOT of trees requiring felling due to age/damage , and at the moment every weekend we manage to do a little more clearing of undergrowth and some aspect of either chainsawing a tree, or log sawing and storing.
    Our land previously belonged to a lovely couple who had lived here 40 years, and had brought a large family up. Over the last number of years the land has obviously become too much for them to manage, and had become totally overgrown in places. Trees had fallen, and just been left where they fell. We have at least 50 self seeded trees at different stages of growth, and different types, and i would guess at the same amount of fully grown trees, most healthy but huge, just requiring management and care, alongside i would estimate about at least ten more that are dead/ damaged and requiring felling.
    At the moment, our priority is getting the dead ones felled for fuel, alongside clearing the overgrown jungle surrounding each one.
    im thinking replanting of the larger trees due to the number of self seeded ones wont be needed for a while
    We did plant 100 hawthornes alongside our stockfencing earlier this year though, which we hope eventually will grow into a lovely thick hedge, which will provide a home for birds and other wildlife, whilst hopefully keeping our animals inside our land
    We have only one area of land now that is that overgrown we only last weekend after living here nearly a year, just managed to nearly get to the otherside of, we are going to use that area next year to hopefully get fenced, and put a couple of weaner pigs in to have an adventure clearing!
    We want to keep the land a little oasis for us and the wildlife living here, we just want all the land usable and passable, which when we arrived you couldnt, except for the garden at the side of the house, and yard. We have some really old trees, one huge beech has initials carved in it, a love heart,and the date of 1959!! i like to think it was a couple who met under the tree on the way to work at the workshops that used to be here years ago, who knows..
    We havent really looked into woodland management as such with any experts yet, we are literally clearing up at the moment .
    I must admit, its a good feeling after hours of chopping/wheelbarrowing etc seeing the logs that will keep us warm for the next few years at least, and save us a fortune in fuel, growing . Our workshop has already enough log for the next couple of years at least.
    Good luck with your tree planting ETA, there are some lovely british varieties to choose from
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • EatingTheElephant
    • By EatingTheElephant 25th Nov 17, 5:14 PM
    • 1,163 Posts
    • 6,240 Thanks
    EatingTheElephant
    It really does sound wonderful there Sammy, so much history. Our weekends sound quite similar. People may think I am odd, but I really love the satisfaction of reclaiming another section of land, plus it’s a better view than going to the gym

    I can see why you wouldn’t need to think about replanting, our little copse is much smaller, but there is a huge tree that has fallen many years ago and just left. It’s going to be a tricky one to clear as it is stuck on another really tall tree, but I keep imagining how long it will keep us warm for! I think I need to add some woodland management things to my reading list.
    • sammy70
    • By sammy70 1st Dec 17, 6:50 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    we love it here ETE, i get funny looks too from workmates when they ask what i did at the weekend, and i say we spent it chopping logs/clearing blackberry bushes, and having bonfires.

    they think im odd, when they think walking around rammed shopping centres and buying crap is a perfect way to while away a weekend day, followed by watching reality tv , watching other people living their life, while eating overpriced takeaways.. we are all different, and thank god everyone isnt the same, or someone else might have got our lovely home before us
    monthly interest for november was £404.55
    daily £13.48
    Our mortgage payment went out today, the new balance was £229145.72.. of course i had to do teeny £5.72 overpayment, making the new balance £229,140
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • FloppyDisk
    • By FloppyDisk 1st Dec 17, 8:10 PM
    • 508 Posts
    • 3,751 Thanks
    FloppyDisk
    I have just found your diary Sammy, it sounds like we have similar aspirations but I have 29 pages to catch up on first!!
    July 2012 £139,642 / Dec 2017 £111,214
    EF - £20,156/£25,000
    • sammy70
    • By sammy70 2nd Dec 17, 3:25 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    hope you dont find my ramblings too boring Floppy!

    We have won £25 on the p.bonds this month, all winnings are set to just re-invest, so a little more in the emergency pot

    Ive just finished our house clean/tidy/washing etc, not too bad as it was also my saturday morning to work, only 4 hours, i was home by 10am

    just catching up on diaries while i finish my cuppa, then taking doggy for a quick walk and to check post, then date night with lovely hubby :
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
    • sammy70
    • By sammy70 16th Dec 17, 12:48 PM
    • 482 Posts
    • 1,314 Thanks
    sammy70
    Well how fast has December flown by!

    We have been without internet for 10 days yet again, engineers out twice, I'm sick of it!!

    Since my last post ive made a couple of overpayments, the new balance is £229,000, a nice rounded amount

    We have had snow/ice over the last couple of weeks too, our yard is still under cover, so not a lot been done outdoors the last couple of weekends

    Anyway, ive done loads of overtime the last couple of weeks, I'm using the hours for time off in 2018, why not work extra when the weather is poo, and enjoy extra time off when the lovely summer comes around again

    Anyway, I worked this morning, home now, must finish off house tidy!
    current official end date of mortgage= 2037-aiming for 2030
    mortgage balance start of challenge- 25/11/2016 £245,695
    overpayments 28th nov 2016-16th dec 2017 =£6158.63
    mortgage balance of currently = £229,000:eek 16/12/2017
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