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    • Thistlewhistle
    • By Thistlewhistle 10th Aug 15, 1:18 PM
    • 1,017Posts
    • 7,208Thanks
    Thistlewhistle
    Thistle grasps the nettle! Again....and no sting this time!!
    • #1
    • 10th Aug 15, 1:18 PM
    Thistle grasps the nettle! Again....and no sting this time!! 10th Aug 15 at 1:18 PM
    Hello there

    I've been dibbing in and out of the forum for longer than I care to remember and I've even dabbled in the odd diary here and there, but never managed to see it through, primarily because life always gets in the way. Who else recognises that feeling?!!

    Anyway, I've been doing some serious thinking about where I am in life, where I want to be, and how I'm going to get there (whilst trying to ignore the little voice in my head telling me I should have started 20 years ago!) Reading Midnight Child's diary and seeing how clued in he is, has relit my fire and prompted me to have another go.......

    So here we go!

    About me:

    I'm currently 43½ years of age and I live on my own in a two bedroomed terrace in a northern town, which I purchased 8 years ago for £95,000 with a deposit of £5,000 which I'd saved with a little help (a lot of help actually!) from Bank of Mum, Bank of Dad and Bank of Granny!

    I have a partner of nearly 4 years, who is my soulmate. He's not as savvy with his pennies as I am, but our finances are completely separate at the moment - maybe this will change in the future.

    Income

    I am self-employed as a franchisee and have 2 main streams of income within this framework, (one which is relatively fixed and one which can vary a lot depending on season) along with a few "extras" which come in from time to time from other things I do.
    If I hit certain targets, I can achieve large bonuses.

    Expenses

    I am not extravagant by any stretch and usually live well within my means. I try to plan for the future but never seem to achieve anything major, like finally paying of Credit Cards, or building an Emergency Fund etc.

    I currently overpay £102 a month on my mortgage each month, every month, and I've done my best to shave all my monthly outgoings to a minimum. I'm not able to re-mortgage at present as I don't have enough equity in my house yet, so this is something I'd like to work on as it'll give me options.

    I currently use YNAB software to help me budget and have been doing so for 8 months now. Best £37 I've spent in ages as it really helps me to see where my money goes. I record on it, my business finances and personal finances too and it's saved me a lot and helped me get my CC debts down. More about this in a future post.

    My goals:

    First goal is to work towards paying of my CC debt once and for all.
    It's all on 0% cards which saves me buckets but the downside of this is that there's no urgency to clear the balances.
    This needs to change!

    Second goal is to build an emergency fund (and to carry out some long overdue house maintenance too).

    Third goal is to then work on the mortgage.

    I'm lucky in that if I want a payrise, I just need to get off my backside and go out and promote my business and this will do the trick. It'll also help me achieve my bonuses too.

    Well, that's enough for now - if you're still reading then well done - I've not bored you senseless!! Or maybe I have but you're a glutton for punishment!!

    Please pop by and see how I'm doing - I need all the encouragement I can get!

    Thistle xxx
Page 13
    • Thistlewhistle
    • By Thistlewhistle 15th Sep 17, 10:21 AM
    • 1,017 Posts
    • 7,208 Thanks
    Thistlewhistle
    Morning all......

    Really getting organised today moneywise.

    Calling my mortgage company for an up to date balance. I record a £10 per day interest charge in YNAB but I know that's over egging it so I'll need to make an adjustment in my tracking balance for the mortgage. Hope fully it'll be well in my favour.
    I'm currently at £73,780 which is great because with 15 days of September left, there'll only be £150 interest to go on that meaning I'll finish the month sub £74k for the first time. I shred £1000 off my mortgage every 4 months or thereabouts thanks to my over payments.
    Big plan is to remortgage before the rates go up.
    Any recommendations on mortgage lenders? Need to be able to overpay!!

    Need to reconcile my car finance account too, check where I'm up to.
    I bought a new (old) car in May after mine got damaged in a superstore car park by some blind bat for whom a huge red car parked next to theirs was too much to cope with. Big dent in wheel arch. Did half finance and have on a 0% credit card deal til June 2020. This is my forever car now. A lovely white dreamy car whose roof folds up into the boot for me and OH to spend sunny days driving round the Yorkshire Dales. Heaven!!!!
    I pay off the minimum CC plus £50 a month but put away £250 to pay the end bill each month, which YNAB tracks for me. Keeping the money in my current account helps me get the top interest.

    Anyway enough chat.....jobs to do.

    Have a great day y'all!!

    T
    Mortgage at end 05/2007: £90,200
    Mortgage at end 08/2017: £74,230 paid £15,970 (17.70%)
    MFD: Original:05/2042 Projected:08/2031 saving 10yr 9 mth

    CC Debt (0% until 06/2020): £5,640 : £2,369 to go (40% cleared)To clear by 12/2017 or sooner!
    Dave Ramsey Baby Step #1: £0,322/£1,000 (32.2%)

    Age of Money at 31/03/2017 = 40 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 15th Sep 17, 2:14 PM
    • 1,017 Posts
    • 7,208 Thanks
    Thistlewhistle
    Well I've checked out my mortgage balance and it is currently

    £73,764.52

    and I have it in YNAB at £73,780 so I'm actually £15.48 better off

    Not as much as I'd hoped for but at least it shows that I'm not too far out with my interest estimates each month.

    Now for the car finance.....
    Mortgage at end 05/2007: £90,200
    Mortgage at end 08/2017: £74,230 paid £15,970 (17.70%)
    MFD: Original:05/2042 Projected:08/2031 saving 10yr 9 mth

    CC Debt (0% until 06/2020): £5,640 : £2,369 to go (40% cleared)To clear by 12/2017 or sooner!
    Dave Ramsey Baby Step #1: £0,322/£1,000 (32.2%)

    Age of Money at 31/03/2017 = 40 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 15th Sep 17, 2:49 PM
    • 1,017 Posts
    • 7,208 Thanks
    Thistlewhistle
    Re car payments...

    Royally beggared up the calculation of this little baby!! Forgot to account for the monthly interest on the finance so this is completely up the spout!!

    Now focusing on paying this off ASAP with as much spare cash as i can muster. Then I'll sort out the 0% CC bit of the finance as that isn't interest bearing at present.

    Currently budgeting £469.12 to the car finance, being £219.12 obligatory payment and a further overpayment of £250 per month to get the balance down. Nothing has changed except for the destination of my payments.

    Luckily in my SW role I can get out there and promote my groups for an instant payrise.

    Yippee!!

    T
    Mortgage at end 05/2007: £90,200
    Mortgage at end 08/2017: £74,230 paid £15,970 (17.70%)
    MFD: Original:05/2042 Projected:08/2031 saving 10yr 9 mth

    CC Debt (0% until 06/2020): £5,640 : £2,369 to go (40% cleared)To clear by 12/2017 or sooner!
    Dave Ramsey Baby Step #1: £0,322/£1,000 (32.2%)

    Age of Money at 31/03/2017 = 40 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 19th Sep 17, 9:32 AM
    • 1,017 Posts
    • 7,208 Thanks
    Thistlewhistle
    Morning all,

    I get to work from home today so I always look forward to that. The sun is shining so I'll be getting some washing out onto the line too. Going on holiday on Monday next so need to start the packing process - determined I won't be last minute this year. Just having a week on the canals in Warwickshire - lovely and peaceful.

    Car finance news- contacted the finance company and I can make overpayments when I wish but I have to email them first to get authorisation. Bizarre set up. I have their bank details - why can't I just send money?? Anyway at least I can do it. I've used a spreadsheet available on excel to prepare a payment schedule so it'll keep my right on track. I need to throw all available funds at this because it's interest rate is eye watering!!!

    Other news, my Body Shop at Home order which I placed after the party I did last Tuesday has just arrived today so I've to bag up the orders for my customers and ship them out. Another lady wants a party in October and she runs her own make up and beauty business so having her as a customer will increase my sales no end. I love doing BSAH as I find it so relaxing and it makes me some money too!!

    Now got £800 in my holiday fund after emptying my £2 pig - £396 collected in £2 coins since April. Nice one. We won't need the whole amount for this holiday so there'll be funds left over to reassign on YNAB when I get back.

    Have a good day everyone.

    Thistle
    Mortgage at end 05/2007: £90,200
    Mortgage at end 08/2017: £74,230 paid £15,970 (17.70%)
    MFD: Original:05/2042 Projected:08/2031 saving 10yr 9 mth

    CC Debt (0% until 06/2020): £5,640 : £2,369 to go (40% cleared)To clear by 12/2017 or sooner!
    Dave Ramsey Baby Step #1: £0,322/£1,000 (32.2%)

    Age of Money at 31/03/2017 = 40 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 20th Sep 17, 9:30 AM
    • 1,017 Posts
    • 7,208 Thanks
    Thistlewhistle
    Morning,

    Everything is full on today - I've a 2 hour meeting with my manager at 12 noon then I've to set up my venue for SW group today. Wednesday is my triple session day so I'll be busy until 10pm.

    Best dash - loads to do!!
    Mortgage at end 05/2007: £90,200
    Mortgage at end 08/2017: £74,230 paid £15,970 (17.70%)
    MFD: Original:05/2042 Projected:08/2031 saving 10yr 9 mth

    CC Debt (0% until 06/2020): £5,640 : £2,369 to go (40% cleared)To clear by 12/2017 or sooner!
    Dave Ramsey Baby Step #1: £0,322/£1,000 (32.2%)

    Age of Money at 31/03/2017 = 40 days

    YNAB is changing the way I live my life....and spend my money!!
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