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  • FIRST POST
    • Thistlewhistle
    • By Thistlewhistle 10th Aug 15, 1:18 PM
    • 1,032Posts
    • 7,247Thanks
    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
    • 1,032 Posts
    • 7,247 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: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 15th Sep 17, 2:14 PM
    • 1,032 Posts
    • 7,247 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: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 15th Sep 17, 2:49 PM
    • 1,032 Posts
    • 7,247 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: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 19th Sep 17, 9:32 AM
    • 1,032 Posts
    • 7,247 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: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 20th Sep 17, 9:30 AM
    • 1,032 Posts
    • 7,247 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: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 12th Dec 17, 2:36 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Afternoon all,

    It's been quite a while since i posted - I've not been so well and things have just been a bit fraught but I'm back in the land of the living again so here I am.

    I'm a bit strapped for cash at the moment and a lot of my projects are on hold. I gave up my manager role in August for the sake of my sanity and my health, and money has been very tight. I'm surviving though and making a lot of money saving decisions. December is always a quiet month but January will hopefully be a mega month so I should get back on track.

    Busy doing my accounts at the last minute as usual and hoping to avoid a massive tax bill on 31st January for which I am woefully under-prepared.

    Just resorted to buying an out of date tin of lentil soup - bargain at only 50p. Money saving starts in earnest right now!!

    Thistle x
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 12th Dec 17, 3:14 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Signature updated.
    Pleased about mortgage - everything else I'm not looking at!!

    T
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 14th Dec 17, 11:04 AM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Morning!

    Had a letter from my mortgage provider this morning advising me of my new interest rate after the BofE changed the rates recently. Effectively it adds another 3 months to my Mortgage Free Date so this is now 07/2031 = 10yrs 10 months. Disappointing to be losing my 11yr status. Might need to squeeze an over-payment from somewhere but to be honest I'm focusing my energies on my car finance at the moment.

    Ho hum! Merry Christmas to me!

    T
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 14th Dec 17, 11:53 AM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Right, I've made a bold decision this morning, namely:

    I'm reordering my overpayments to maximise my saving of interest.

    1. I'm suspending the overpayments on my mortgage until 09/2019. This will free up £200 per month but put my MFD back to 05/2042

    2. The extra £200 released will be saved up and every 5 months will be thrown at the Car Finance (min overpays of £1000 - check this as might be £500)
    Payments to make
    05/2018 - £1000
    10/2018 - £1000
    03/2019 - £1000
    09/2019 - £1020.98 to clear the debt.
    This will knock 24 months' payments off this loan and save me £1250.90 in interest payments.

    3. From 10/2019, the £219.12 monthly car payment + the mortgage overpayment money of £200 will be snowballed to my MBNA debt, making a monthly repayment of £469.12 which I've calculated will clear the MBNA debt 1 month before the 0% deal comes to an end in 05/2020!
    Result

    4. Snowball car payment money £219.12 + £200.00 old mortgage overpayment towards the mortgage, which will now clear by 02/2028 saving 171 months = 14yrs 3 mth which beats the 10yrs 10mths it currently stands at by overpaying now!

    Sounds like a plan!!

    I'm aware my old car will die eventually so it's not foolproof by any means but hopefully in the meantime my earnings will increase so I can still finance my plan and pay out for a replacement. You've got to start somewhere!

    T
    Last edited by Thistlewhistle; 14-12-2017 at 12:05 PM.
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 14th Dec 17, 12:08 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Lady at mortgage provider says I've overpaid £7,000 since I started doing it. Happy with that!
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 15th Dec 17, 9:13 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Well I just about managed to get all my Christmas presents for the £200 I budgeted. Went over by about £12 but I'll soon scrape that back. I've earned £15 in M*rrisons vouchers recently so that'll cover that.

    Also got myself a 10p/litre reduction on my next fuel fill up so running the car down to empty before I refill, but have to do it Sunday by the latest.

    It all counts.

    Have a good evening.

    T
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Jessy103
    • By Jessy103 16th Dec 17, 11:53 AM
    • 510 Posts
    • 2,165 Thanks
    Jessy103
    Well done on overpaying £7000!!! Also well done on the Christmas budget, I wish I could stick to mine!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Jan 2018 - £58,500.00
    Overpayment Target for 2018 - £5,000 /£369.23
    Jan - £369.23
    • Thistlewhistle
    • By Thistlewhistle 16th Dec 17, 8:04 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Just been to M*rrisons and bought some whoopsed sandwiches.
    Got 2 duck wraps and a turkey wrap for 59p each down from £2.39
    and a tuna/sweetcorn sandwich for 45p. Picked up 4 whoopsed brown baps for 65p too.
    Used my More Voucher to buy some mince pies for a treat.

    It feels quite accomplished!!

    T
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 16th Dec 17, 8:06 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Well done on overpaying £7000!!! Also well done on the Christmas budget, I wish I could stick to mine!
    Originally posted by Jessy103
    Hi Jessy103, welcome along. Thanks for saying. I royally fouled Christmas up last year by not budgeting so was determined to get it right this year.

    However as you can see it's put me on knocked down sandwiches for tea!!!
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Jessy103
    • By Jessy103 18th Dec 17, 1:36 PM
    • 510 Posts
    • 2,165 Thanks
    Jessy103
    Nothing wrong with knocked down sandwiches, they taste better when they're cheaper! Lol
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Jan 2018 - £58,500.00
    Overpayment Target for 2018 - £5,000 /£369.23
    Jan - £369.23
    • Thistlewhistle
    • By Thistlewhistle 19th Dec 17, 12:45 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Fuel voucher saved me £5.50 at the pumps on Sunday so that's a bargain. I waited until the car was literally on fumes to maximise the voucher potential!!

    Running a SW group for a colleague today, both AM and PM so that's a nice unexpected £90 to add to the kitty.

    I cashed in my £2 coin piggy bank - needs must at this time of year and this yielded a further £408 so I can now budget bills right to the end of December on YNAB and I've still got 2 weeks paydays to go.

    Maybe December won't be the disaster i thought it might be after all.

    Thistle
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Thistlewhistle
    • By Thistlewhistle 2nd Jan 18, 1:20 PM
    • 1,032 Posts
    • 7,247 Thanks
    Thistlewhistle
    Happy New Year everyone!

    T
    Mortgage at end 05/2007: £90200
    Mortgage at end 11/2017: £72436 paid £17764 (19.69%)
    MFD: Original:05/2042 Projected:04/2031 saving 133 months = 11yr 1 mth
    Car Finance: £8225 : £7535 (8.39% paid off)
    CC Debt (0% until 06/2020): £5640 : £5324 (5.60% paid off)

    Age of Money at 30/11/2017 = 34 days

    YNAB is changing the way I live my life....and spend my money!!
    • Jessy103
    • By Jessy103 3rd Jan 18, 2:05 PM
    • 510 Posts
    • 2,165 Thanks
    Jessy103
    Happy New Year Thistle! All the best for 2018!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Jan 2018 - £58,500.00
    Overpayment Target for 2018 - £5,000 /£369.23
    Jan - £369.23
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