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    • Moneyfordreams
    • By Moneyfordreams 5th Nov 15, 11:32 AM
    • 901Posts
    • 4,458Thanks
    In the nick of time
    • #1
    • 5th Nov 15, 11:32 AM
    In the nick of time 5th Nov 15 at 11:32 AM
    I been reading debt free diaries and mortgage free diaries since the summer and I have been hugely inspired and reassured my dreams are achievable.

    My husband was significantly in debt until 2 1/2 years ago through a failing business during the recession. Due to having equity in our home I was able (had to) to re-mortgage and pay off the debts. that's the simple version anyway.

    During the time when my husbands income was negligible we had a lodger. Unfortunately those basement rooms require about 5K worth of work and are currently unlettable. I hope either to save this money by the spring, or maybe withdraw some capital from my husbands small pensions. He gets about £200 pcm plus £800 wage. He has his own debt to pay until June next year, then I gain £120 to go towards the mortgage.

    I have a fairly good job and have always worked extra hours. My husband is working in a job on minimum wage. After many money related traumas and battles our relationship is fantastic.

    My aim is to retire at 55 if I can. I am going to go hell for leather to make this happen. We trimmed our expenses years ago. We have the occasional slip up and overspend in fact this year has been an overspend on some big items whist shopping at lld1.

    We have recently registered with airbnb to increase our income and may soon break even from initial outlay.

    Total debt including Mortgage £194930.oo

    Mortgage £183240.00 / £1020 pcm 19yrs currently OP £100 (£1120)
    Car loan £5330 / £208 pcm. 2 1/2 years left.
    HSBC CC 0% £5600 / £150 pcm ( I wanted to build an EF so a bit over minimum for now )
    Nationwide CC £760 recent trip & Airbnb room upgrade (will pay off this month hopefully)

    ISA £1800
    Xmas fund £300
    Rainy day £200
    instant access £100
    CB £160

    owed in
    selling tumble dryer £30
    Family loan £100
    Airbnb £ 121

    This year we have failed to sell our house which we bought for £250K, 10 years ago. There is no appreciation in value We have had a new bathroom fitted and patio doors to the kitchen. We also had a family emergency in Spain hence a further £2K on CC.

    Looking at the mortgage calculators and snowballing methods I can have this paid off in a 10 year time frame. Ideally I want to be mortgage free, but I suppose being debt free would be a better place to start.

    Short term goals
    £165k by xmas (normal OP +lodger get us to £165930) actual £166k
    Under £160k by June 2017 to achieve <60% LTV
    Under £150k by December 2017 (pushing it )

    Mortgage £200 k February 2013
    re mortgage June 2015 (dithered as really wanted to sell)
    Found MSE Forums summer 2015
    January 2016, debt and mortgage £192k
    January 2017 debt and mortgage £171k (166k +£5k
    Can access work pension 2025 (55 years)
    Have very small £2k private pension to close 2025
    DH state pension 2026, plus current pension of £200 pcm
    DH shares can be accessed from June 17, but aim to cash them 2025
    my state pension 2037
    Official mortgage end, 2038. then 2034

    Op's 2016 R/T
    January £492.00 = £492
    February £820.38 = £1312.38
    March £676.46 = £1988.84
    April £723.83 = £2712.67
    May £679.92 = £3392.59
    June £728.61 = £4121.20
    July £634.48 = £4755.68
    August £442.93 = £5198.61
    September £590.51 = £5789.12
    October £1007.28 = £6796.40
    November £365.53 = £7161.93
    December £171,64 £7333.57

    2nd January 2017 total £166200
    January. £440
    February £169.11
    March £275.69= 884.80
    April £305.39 = £1190.19
    May £103.06 = £1293.25
    June £192.91 = £1486.16
    July £110.93 = £1597.09
    August £118.35 = £1715.44
    September £116.66 = £1833.00
    October £107.90 = £1940.90
    November £100
    December £100
    Last edited by Moneyfordreams; 07-10-2017 at 7:54 AM. Reason: to add link
Page 18
    • Moneyfordreams
    • By Moneyfordreams 13th Oct 16, 8:51 AM
    • 901 Posts
    • 4,458 Thanks
    Day off today. Must visit mum. She needs more input now. My rota has my days off split in a day, off a day. A pain really on a personal level, but on a mother level quite useful.

    Want to go the gym too... I usually do these things in the mornings, but not sure today. Did plan on meeting a friend for breakfast, but her son broke his arm yesterday and she wants to go to the school first to see why they left him all day with an Ice pack on his arm!!

    So plan a bit up in the air. OH and I have been ships that pass in the night (and 6am), said yesterday at least we'll have the afternoon mmmm, then SW at tea time 1st week weigh in and I've not done it

    Personal shopping this month is around £70, that includes laundry liquids. I've deducted room spends.

    Petrol £43

    Will probably spend £10 on brekkie or lunch, whichever it is

    OT tomorrow, more for the savings pot this time, I think. I really would like a £5k cash EF, but for starters a £3k then £4k will do. All my working life services have been restructured and new plans made. I know big changes to our organisation will happen next year, but there are constant rumblings about our future positions. they only increased the size of the team last year!! I really don't want to go up a grade or down a grade .

    So I need to just keep at it and make a more of a triple approach. My pension paid at source 9.3%, Mortgage getting tackled, so cash savings could do with a bump. Since I've remember my Oh's shares I keep thinking, s*d it, just pay the mortgage.
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • Moneyfordreams
    • By Moneyfordreams 14th Oct 16, 11:18 PM
    • 901 Posts
    • 4,458 Thanks
    Overtime today so a few pennies extra.
    email from @irbnb telling us we have achieved superhosts for the 4th quarter running (5 star ratings) and they've given us a $100 travel voucher ... downside is we have to make a trip somewhere

    @irbnb still going strong. although we've been registered a year now. I think I'll do a house income end of December for the actual year... it's so close now :
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • EatingTheElephant
    • By EatingTheElephant 15th Oct 16, 6:21 AM
    • 1,256 Posts
    • 6,881 Thanks
    Amazing news on @irbnb, well done

    You sound crazy busy, hope you get a relaxing weekend.
    • brizzledfw
    • By brizzledfw 15th Oct 16, 1:36 PM
    • 7,275 Posts
    • 35,649 Thanks
    Echoed. This air bnb lark is really driving your income up..great stuff

    (Tell OH its all down to his bed linen ironing skills )
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    Winter 17/18 Savings Rate Goal: 25% [October 30%]
    Declutter 60 items before 31.03.18 9/60 ** LSDs Target 10 for March 03/10 **AFDs 10/15 ** Sales/TCB Target 2018 £25/£500 NSDs Target 10 for March 02/10 Trying to be a Frugalista
    • giblet1979
    • By giblet1979 15th Oct 16, 8:09 PM
    • 846 Posts
    • 3,450 Thanks
    Hi mfd,
    I've just finished reading through your diary - you do so much and your debt and mortgage payments are fantastic.
    I'll be subscribing and following (and trying to use your example to get myself more motivated, especially with house stuff!)
    Gib x
    Debt remaining:
    Mortgage - £117,759 (£134,600, Nov 2013)

    Work overpayment and home improvement loan paid back (£19200)

    • Moneyfordreams
    • By Moneyfordreams 15th Oct 16, 9:31 PM
    • 901 Posts
    • 4,458 Thanks
    Thanks ETE and Brizzle, your encouragement really helps,

    And yours too Giblet, thank you for joining me. I love love love, reading these diaries... I devour them, and gain ideas and inspiration from everyone
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • newgirly
    • By newgirly 16th Oct 16, 10:08 AM
    • 6,159 Posts
    • 42,566 Thanks
    Finally caught up so your updates, it must be so hard having your dd live away from home, but great she is due home soon well done for clearing the car loan and getting into he next 10k bracket with the mortgage
    MFW 21
    Target for 2018 £40k/£7,386.01 paid so far

    Mortgage £40,818 4yrs 3mths left. Total owed £54,603.99 plan to clear in 14 months
    Weight loss target 2018- 21lb /4.5 lost
    • Moneyfordreams
    • By Moneyfordreams 16th Oct 16, 3:16 PM
    • 901 Posts
    • 4,458 Thanks
    Thanks Newgirly,

    Tearful about DD2 last night, she's feeling homesick ... so it started me off. Have to suck it up because I can't go into work with puffy eyes again. They'll think I'm a loon

    I spent another £46 in supermarket so £116 in total this month. We do not need anymore food!! I went for a chicken this am for lunch.. As I'm only home 3 nights a week it'll take ages for the haul to be eaten, but it was all great value

    Still waiting for lodgers rent.. 2 weeks. He hasn't been paid so is trying to chase down his boss. Been promised it again today. Tonight's guest needs to pay up too. He owes from his stay 2 weeks ago and for the following 3 weeks. This is probably why @irbnb say don't book outside of them. If they both pay up I should have a nice over payment to make.
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • shangaijimmy
    • By shangaijimmy 17th Oct 16, 8:14 AM
    • 2,469 Posts
    • 11,940 Thanks
    Grrrr to late payers!
    MFW: Turning June 2036 into March 2023... 36//120 Payments Challenge, Diary Reduction £38,867.25
    Aug 2009: £163,051 // Current: £97,132.75 // Avg Daily Interest £4.36
    MFiT-T4 #8 - 64.95% of £41,000
    • jodles16
    • By jodles16 17th Oct 16, 4:31 PM
    • 1,315 Posts
    • 3,970 Thanks
    Hey MFD, well done on the achievement from Airbnb! Amazing stuff!

    I would tell the chap you expect full payment in advance with no discount after this rude behaviour. Take no prisoners!

    Hope your mum is doing better now and I hope you get some time to yourself!

    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

    • Moneyfordreams
    • By Moneyfordreams 17th Oct 16, 9:54 PM
    • 901 Posts
    • 4,458 Thanks
    Jodles I'm really a coward

    Well bnb man paid for 11 nights when increased the booking to 12, he left a cheque in the kitchen. I wonder if he will cancel a future night so hopefully I can have the patience to wait .... mmmmmm When the cheque clears I'll OP.

    Lodger has paid for one week up to now (only just) so last weeks still required, then it will be this weeks

    SJ... it's so strange I want each months money to take affect in that month, week , day... tad too obsessive

    I'm off tomorrow so plan a gym session and a mother visit. Her short term memory doesn't seen to have improved. my sister leaves her tablets out each evening for her, on a note saying take your tablets in the morning. I'll get there, or the carers and she takes them, them she'll phone later to say where have I put her tablets? She remembers to write herself a note, but then doesn't believe her note. I think I'll try to chase up memory clinic.

    OH has worked today for his friend. After tomorrows work he says we can go to the cinema and he'll give me £40 (to overpay )
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • CathT
    • By CathT 18th Oct 16, 6:07 AM
    • 5,474 Posts
    • 38,257 Thanks
    Great extra income and projected overpayments. Good luck with memory clinic for your mum too.
    March 2018 -
    part 1 - £78,696
    part 2 - £45,632
    Total - £124,328
    • Moneyfordreams
    • By Moneyfordreams 18th Oct 16, 10:29 PM
    • 901 Posts
    • 4,458 Thanks
    thank you Cath

    today's mother visit was overtaken by the dreadfulness of cold caller builders. They knew mothers phone number and address and planned to price up work on the rear wall of the house today. This backs onto a car park. Although her memory is terrible, she remembered part of the tale, and let my BIG brothers know, also told me half a tale on our visit. My brothers met them this afternoon and told them they were not needed and would never be due to family contacts.

    We feel scared for her, her security being compromised by usurpers. She may not remember this in a day or two, .... unfortunately. Shoddy ethics of awful businesses... there is nothing wrong with her house at all. Rip of britain show came to mind

    We were trying to hammer home today ... do not open the door to strangers... but we also do not want her to feel uncomfortable in her own home
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • Moneyfordreams
    • By Moneyfordreams 21st Oct 16, 10:06 AM
    • 901 Posts
    • 4,458 Thanks
    Another overtime shift today. Last one I think. I need next weeks days off, or rather our daughters need me to have next weeks days off, one day to babysit and the other to collect DD2 from uni for a week

    DD2 has a trial shift in a restaurant tomorrow. Thrilled she's actually looked for work

    Pay day is another week away. I really would like to reach it without spending if possible. My salary will be a lot less than normal due to no OT or enhanced pay.

    OP's so far this month are £577.28. We are expecting in another £360 from both rooms, so a bumper month if lodger coughs up all he owes.

    Not sure if upstairs wants to stay after the first week in November. I think i'll email him to clarify so I can open up November's bnb calendar.
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • EatingTheElephant
    • By EatingTheElephant 22nd Oct 16, 8:22 AM
    • 1,256 Posts
    • 6,881 Thanks
    Fingers crossed for room money to come through and for DDs job trial.

    Great OPs so far this month, even before the room money
    • Moneyfordreams
    • By Moneyfordreams 23rd Oct 16, 7:00 PM
    • 901 Posts
    • 4,458 Thanks
    ETE, half there ,lodger is only a week in arrears... but by Friday It will be 2 again, not too bad , us us grown ups know how easy it is to get into debt... He's a daft lad who is easily swayed by anyone who'll be nice to him, but sometimes comes across as a.bit needy.

    Another short notice booking for tonight. We had to rush home to put the laundry on. With back to back bookings and working the weekend we thought we had got a night off. Strange things is the guy who booked lives in our town!! Will mention it on arrival and see what the answer is. Strange really... we are very comfortable with complete strangers but worry about a local.

    Last nights guests from Denmark flew over for football. The team won so they were happy, but young boy left his ipad behind... so will be looking at P&P for that tomorrow.

    Only had today off work .2 more long days then I'm off for 3 days.

    DD1 is on her way with the little one, to make Halloween her costume.. could be good or bad

    DD2 got her restaurant job in uni town thrilled for her... it all seems to be coming together in time for her to come home next week
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • newgirly
    • By newgirly 23rd Oct 16, 9:02 PM
    • 6,159 Posts
    • 42,566 Thanks
    Perhaps the local guest has had an argument with his partner and needs some space!
    MFW 21
    Target for 2018 £40k/£7,386.01 paid so far

    Mortgage £40,818 4yrs 3mths left. Total owed £54,603.99 plan to clear in 14 months
    Weight loss target 2018- 21lb /4.5 lost
    • Moneyfordreams
    • By Moneyfordreams 23rd Oct 16, 10:02 PM
    • 901 Posts
    • 4,458 Thanks
    My thoughts exactly.... NG..... and we are right
    MORTGAGE FREE (but homeless) hopefully not homelessfor long
    • newgirly
    • By newgirly 23rd Oct 16, 10:47 PM
    • 6,159 Posts
    • 42,566 Thanks
    Blimey that's drastic
    MFW 21
    Target for 2018 £40k/£7,386.01 paid so far

    Mortgage £40,818 4yrs 3mths left. Total owed £54,603.99 plan to clear in 14 months
    Weight loss target 2018- 21lb /4.5 lost
    • Saver-upper
    • By Saver-upper 24th Oct 16, 3:15 AM
    • 1,728 Posts
    • 13,116 Thanks
    Hi Moneyfordreams.I have just spent the last three hours reading your diary from the beginning .What a ride!

    Well done on the Airbnb success,and the overpayments-such a great effort.I would love to tag along on this journey of yours,if that is ok.

    I am suddenly feeling motivated to open lots of different bank accounts: do you have seperate accounts for bills,savings,emergency funds,holidays etc?

    I am looking forward to following your diary.Good luck with everything-you are working so hard keeping all the balls in the air .
    SPC #155 x 7.SPC7=£751.10 SPC8=£651.04 SPC9=£843.00 SPC10=£872.76
    Pinecone £301,Valued Opinions £10.50

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