Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • debtfreeoneday
    • By debtfreeoneday 9th Jan 15, 1:22 PM
    • 2,242Posts
    • 7,459Thanks
    debtfreeoneday
    Mortgage free by 2023 (!)
    • #1
    • 9th Jan 15, 1:22 PM
    Mortgage free by 2023 (!) 9th Jan 15 at 1:22 PM
    Hello,

    I'm usually found hanging out on the DFW diaries thread as you'll see from my signature we are still tackling debt..

    However, my plan was always to start attacking the mortgage after that, but having just sat down and worked out how much we need to overpay to clear it in time for DH to retire at 65 latest, I think we need to start now!

    I still have to focus on clearing the debt as it's on a slightly higher interest rate, but I don't see any harm in starting to overpay the mortgage a little bit here and there as well. I've found a debt free wannabe diary massively helpful in helping me to focus and curb any unnecessary spending, so here I am!

    I don't expect masses of activity, but every little bit will help!

    We have 14 years left on our mortgage with £118,031.21 left to pay wef today (I just realised I could access this online - will regularly stalk this from now on!) We want it gone by December 2023. We pay £921.60 a month which is effectively my wages - it feels a huge amount as it is, but I know we have to do more.

    Would love some company for the next 9 years!!!

    My plan of how I'm going to do it! Four financial goals a year plus one for me!

    August 2008 - June 2015
    Clear original £58,085.65 worth of debt

    2015
    #1 DFW - Clear CC2
    #2 MFW - Overpay £1000 on the mortgage - £1244.62
    #3 MFW - Mortgage total sub £111,500 - £110,140.94
    #4 SAV - Save £500 to the 'month in hand' fund - £50!


    2016
    #1 DFW - Clear CC2 / Get DFW total below £2999
    #2 MFW - Overpay £4000 on the mortgage
    #3 MFW - Mortgage total sub £100,000
    #4 SAV - No savings, focus on clearing debt
    #5 ME - Lose 35.7kg
    Last edited by debtfreeoneday; 27-07-2016 at 8:11 AM.
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
Page 75
    • debtfreeoneday
    • By debtfreeoneday 15th Sep 16, 9:09 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    School continue to rattle my cage.. going to arrange to see another local school, was back at the GP this week and another referral done for him.. looking like we are off down the autism route now.
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • mummytogirls
    • By mummytogirls 16th Sep 16, 9:34 PM
    • 4,471 Posts
    • 11,556 Thanks
    mummytogirls
    Sorry to hear school are annoying you again xx
    Mummytogirls x

    £23164.32 - 12/12/10
    £9971.23 - 29/07/16 - 56.95% paid off
    • debtfreeoneday
    • By debtfreeoneday 17th Sep 16, 6:06 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    Found out an autism assessment will take 2 years before we are even seen. Can't believe that.. What we are supposed to do in the meantime, I don't know!

    Busy day at home cutting down a neighbours trees that block our light and were bending a fence that if it broke, would have taken some of ours down as well. they don't care and don't look after the house / garden so were like - just do it if you want, but we aren't.. so DH and another neighbour have spent all day doing that. Looks so much better though.

    Have decided to do a full class birthday party as long as a party organiser gets back to me and will do what I'm after.. feel a bit wrong not inviting some of the class but running a whole party is outside of my comfort zone!

    Money wise - all quiet really. Bill hasn't materialised for the water tank ad half of me doesn't want to chase in case they realise we are three bills adrift now, but part of me does want to pay in case it catches up with us.

    Off to do Mr T order and collapse on the sofa, I'm knackered!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • dawnybabes
    • By dawnybabes 18th Sep 16, 4:34 PM
    • 1,542 Posts
    • 3,620 Thanks
    dawnybabes
    It's three years here, absolutely shocking. We gave up and went private as we needed the piece of paper to access a provision unit at a mainstream high school.
    Sealed pot challenge 822

    Jan - £176.66
    • debtfreeoneday
    • By debtfreeoneday 18th Sep 16, 7:23 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    £3K fora private assessment.. I would seriously consider it if it would make a difference now, but it won't have any impact in primary school..
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • greent
    • By greent 19th Sep 16, 7:41 AM
    • 5,035 Posts
    • 50,215 Thanks
    greent
    Can I ask why it wouldn't have any impact in primary?

    Whole class bday party - you're brave!

    xx
    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
    Net sales in 2016 £506.39/£500
    Sept grocery spends ??/ £350 NSDs 7/7
    • debtfreeoneday
    • By debtfreeoneday 19th Sep 16, 7:17 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    I think the school 'think' they are doing everything they can for him and a diagnosis won't make any difference. I don't think he will be severe enough for any additional funding, and I think all strategies to help him will have been done by then. But I'm no expert...

    Reached payout on mintv1ne, have requested £6ish and will stop doing them then. too much hassle on that one!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • debtfreeoneday
    • By debtfreeoneday 22nd Sep 16, 7:12 AM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    Another busy week, payday for DH tomorrow and I desperately need to send some pennies to the CC. Mobile phone upgrade has taken us near the limit, so much so I dare not look at the balance.

    Just requested £6 from pcone to my palpay which will go straight to the little CC which is down to around £250. hoping to clear that one this month.

    Picked up £2.50 from youg0v this week in surveys and nearly at £23 on 1poll so ticking along on there.

    Still waiting for my m1ntv1ne payout to hit the bank.

    Keep going - it's nearly the weekend..
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • amycool
    • By amycool 22nd Sep 16, 10:40 AM
    • 626 Posts
    • 2,826 Thanks
    amycool
    The wait for a diagnosis is shocking - I had no idea. I know the new EHCPs can drag on forever before you get the support your child needs. We were told a lot last year that DD didn't need any extra support but this year she's been a lot more vocal with how she's feeling so they've put a new plan into place. I still feel rubbish leaving her though knowing how much she's struggling. I hope you find a school more suited to your son's needs soon.
    Mortgage (Start Sep 2014)- £70,295/£47558.12- 32%
    Overpayments - £13731.82

    Comp wins: Stabilo fineliners - £105 worth of men's clothes - Hair tints - Granola - Bar of Galaxy - Topsy and Tim book
    • debtfreeoneday
    • By debtfreeoneday 22nd Sep 16, 8:39 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    So after another few issues this week, we are off to see a new school.. if this one doesn't feel right, it's looking like it's home ed as there are no others locally and I refuse to keep moving them about.
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • debtfreeoneday
    • By debtfreeoneday 23rd Sep 16, 12:11 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    DH pay day and £500 off the CC - will also clear the smallest CC this month by paying another £250 when I get paid. Onto the next CC which is about £750, hoping to get that gone within two months.

    Bank switch to co----op in progress so just under £200 on the way to us for that.
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • EagerLearner
    • By EagerLearner 23rd Sep 16, 6:16 PM
    • 4,814 Posts
    • 7,500 Thanks
    EagerLearner
    Snap! I'm in the middle of transferring to coop from Halifax as heard that Halifax 5 a month is under review. Is yours £150 plus the rewards from coop = £200?
    Sorry to hear about autism assessment, hope you have better luck with the next school.
    We're similar in mortgage balances, we've just hit £102k, desperate to pay off as much as possible as it renews next Christmas but I'm self employed now eek...
    I've started back on my blog, it'll have a big focus on mortgage overpayments and Extreme Early Retirement (ERE) as well as FIRE. Just click homepage under my username if you would like to check it out, would love to hear from everyone.
    Last edited by EagerLearner; 23-09-2016 at 6:19 PM.
    See my Savings Now Blog My 2010 Free Daily Clicking Earnings: £247.89

    Baby EL arrived 12th July
    Click for my Budgeting & Debt Spreadsheet recommended by Martin
    • debtfreeoneday
    • By debtfreeoneday 25th Sep 16, 8:37 AM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    it was £150 from the cooooopp and £44 from TCB.. plus the rewards that I didn't realise you got each month.

    Few things about H-fax app I don't like.. silly, but for someone that checks their bank every day, it's a niggle.

    Weather is variable to say the least, so expecting very much a chill out day at home.

    Lots going on, expecting that the school move will be in full swing next week - reckon we are looking about £70 for new uniform as trousers and pinafores/ skirts will do - but need to buy new jumpers, cardigans, PE tops and polo shirts, all which need to be the school ones.

    DS is loving his karate, so much so he asked if he could train another night, so I think you can access any sessions once you've paid, so need to sort that this week.

    Water tank bill came, so need to pay that, looks like they have totally missed the January bill again so we are £280 up.

    Electric bill finally calculated as was £638 for 6 months.. so we are about £150 in credit, need to put the switch in place on 30/9 when the early exit fee is null.

    Up to £18.50 on YG and £24 on 1poll, £14 on pr0filic.

    Bought a few more Xmas presents today with survey income. If we are moving schools, I won't do the birthday party - we managed to get tickets to an event on their birthday weekend which was over £100 - but compared to a party, it's half the price.. May or may not do a birthday tea on their actual birthday depending on schooling / friendships etc.

    So much going on at work, I'll pick up a bit more in a week as a colleague is leaving that they aren't replacing.. hoping now I have an office to myself, that I will get loads more work done.

    That's all from me - have awesome Sundays!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • amycool
    • By amycool 26th Sep 16, 10:31 AM
    • 626 Posts
    • 2,826 Thanks
    amycool
    It's great that you have found a new school - all moving very fast! Shame about having to buy new uniform though.

    We decided against a birthday party in the end - just going to the cinema and pizza with cousins - cheaper and less stressful!
    Mortgage (Start Sep 2014)- £70,295/£47558.12- 32%
    Overpayments - £13731.82

    Comp wins: Stabilo fineliners - £105 worth of men's clothes - Hair tints - Granola - Bar of Galaxy - Topsy and Tim book
    • greent
    • By greent 26th Sep 16, 4:19 PM
    • 5,035 Posts
    • 50,215 Thanks
    greent
    Hope the school move is as smooth as it can be 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
    Net sales in 2016 £506.39/£500
    Sept grocery spends ??/ £350 NSDs 7/7
    • debtfreeoneday
    • By debtfreeoneday 26th Sep 16, 6:44 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    Currently munching on maltesers eating my feelings away - never the answer, but just necessary tonight!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • mummytogirls
    • By mummytogirls 26th Sep 16, 8:08 PM
    • 4,471 Posts
    • 11,556 Thanks
    mummytogirls
    Mmmmm to the maltesers DF0D.

    Have you been to look round the school? Just wondering if everythings in motion now.

    Great news that DS loves karate x
    Mummytogirls x

    £23164.32 - 12/12/10
    £9971.23 - 29/07/16 - 56.95% paid off
    • debtfreeoneday
    • By debtfreeoneday 28th Sep 16, 4:21 AM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    We go later this week... talking to another parent, it seems a lot of people are unhappy with the teacher...

    Paid off the smallest CC - yey.. two to go now.
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • debtfreeoneday
    • By debtfreeoneday 30th Sep 16, 1:00 PM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    Been to school, they will have a trial day and if all ok, we will move schools next week. Feeling pretty hopefuly but DD is worried about leaving her friends. Soooo blinking hard isn't it!

    Money wise, I've been paid (yey) so water tank bill paid. Need to do energy switch tomorrow as our tie in period is over.

    My cashback from M&S which was missing has been paid, so was worth the hassle of chasing that.

    That's about all from me!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
    • debtfreeoneday
    • By debtfreeoneday 1st Oct 16, 5:08 AM
    • 2,242 Posts
    • 7,459 Thanks
    debtfreeoneday
    energy switch done, should save about £10 per month.. need to submit meter reading today at some point.

    Food order to do, need to go buy new colour hair bands and bobbles for DD as she seems really excited now she knows 10 or so of the girls from Rainbows. Sent email to the current Headteacher last night explaining the two incidents in the last two weeks that have been the final straw. Be interesting to see what she comes back with.

    Off to the flicks tonight to see Bridget, so looking forward to that..

    Need to go log into bank account, it's the first of the month so loads will have gone out!
    DFW (08/08) £64,346.53 £1,747.75
    MFW (01/15) £118,031.21 £103,885.97
Welcome to our new Forum!

Our aim's to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,582Posts Today

6,431Users online

Martin's Twitter