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  • FIRST POST
    • Moneyfordreams
    • By Moneyfordreams 5th Nov 15, 11:32 AM
    • 858Posts
    • 4,158Thanks
    Moneyfordreams
    In the nick of time
    • #1
    • 5th Nov 15, 11:32 AM
    In the nick of time 5th Nov 15 at 11:32 AM
    Hello,
    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)

    Savings
    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 )

    KEY DATES
    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 £100
    October £100
    November £100
    December £100



    http://www.whatsthecost.com/snowball.aspx
    Last edited by Moneyfordreams; 15-08-2017 at 9:58 AM. Reason: to add link
Page 23
    • brizzledfw
    • By brizzledfw 3rd Feb 17, 8:56 AM
    • 7,012 Posts
    • 33,806 Thanks
    brizzledfw
    Just catching up....money plans sound good and WHOOP to the anniversary trip. V jealous

    Xx
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    August '17 Savings Rate Goal: 25% [July 23.9 %]
    Declutter 100 items before 31.08.17 22/100 ** LSDs Target 5 for August 01/05 **AFDs 8/20 ** Sales Target '17 £750 £140 so far
    **NSDs Target 5 for August xx/05 Trying to be a Frugalista
    • Moneyfordreams
    • By Moneyfordreams 3rd Feb 17, 9:33 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Was just on my way over to your diary brizzle. Mmm, feels a bit extravagant after years of being frugal. And I've spent a lot on us these last couple of months. But its done and planned, so I'm dealing with it (and our children are mostly independent now)

    Just needs to get on top of the messy cc's now ready for summer remortgage. Weekend guests tonight. January airbnb paid out £261 and we have projected that for this month too.
    After reading many diaries this morning, I made another op of 69.11 to the mortgage. To tidy it up for the month
    Last edited by Moneyfordreams; 13-02-2017 at 2:56 PM.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • brizzledfw
    • By brizzledfw 3rd Feb 17, 9:52 AM
    • 7,012 Posts
    • 33,806 Thanks
    brizzledfw
    Wheres the 'you are on fire' emoji when I need it??!

    Have a great day

    x
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    August '17 Savings Rate Goal: 25% [July 23.9 %]
    Declutter 100 items before 31.08.17 22/100 ** LSDs Target 5 for August 01/05 **AFDs 8/20 ** Sales Target '17 £750 £140 so far
    **NSDs Target 5 for August xx/05 Trying to be a Frugalista
    • newgirly
    • By newgirly 3rd Feb 17, 11:51 AM
    • 5,716 Posts
    • 39,166 Thanks
    newgirly
    The trip sounds fantastic
    MFW 21
    Target for 2017 £38,545 / £14,264 paid so far

    Mortgage £48,846 4 years 9 months left. Total owed £66,122 planning to clear in 24 months
    WW target - 29.5 lb start date 11/5/17 so far 10.5lb lost.
    • Moneyfordreams
    • By Moneyfordreams 4th Feb 17, 11:24 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Lodger rent paid off cc, £60 , so up to date kind of (hb paid in arrears) but that should stop now a Ft job is in the offing.
    Mega booking for next week came through last night, £174
    The costs to us each booking are bread , milk, butter, jams, laundry, biscuits and extra heating. The house is only warm when we have guests
    Unfortunately OH has taken to leaving spare bedding in the room drawers. It will be a mad dash to iron when current guests leave.
    So today should get £58 plus £174 plus £60 all off cc by Monday. The benefits of your house not being your own
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • Moneyfordreams
    • By Moneyfordreams 7th Feb 17, 7:12 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    new guests are really quiet, he leaves for work before 05:30, and his wife stays here relaxing until he returns in the afternoons. I hope the weather improves as our heating is on overdrive!! Now I know they have paid for it... I just hope boiler is ok with extra work

    lots of family worries over the last weeks from each branch of the tree... the outcome will not be good I'm sure there will be tears when the time comes. OH is very worried.

    work was fab yesterday... very enjoyable. babysitting today at 0900. ..... off for a walk to the supermarket to blow away the cobwebs now.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • brizzledfw
    • By brizzledfw 8th Feb 17, 9:44 PM
    • 7,012 Posts
    • 33,806 Thanks
    brizzledfw
    Hope the family worries turn out to be less bad than you fear.

    Take it easy when you can

    x
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    August '17 Savings Rate Goal: 25% [July 23.9 %]
    Declutter 100 items before 31.08.17 22/100 ** LSDs Target 5 for August 01/05 **AFDs 8/20 ** Sales Target '17 £750 £140 so far
    **NSDs Target 5 for August xx/05 Trying to be a Frugalista
    • Moneyfordreams
    • By Moneyfordreams 13th Feb 17, 9:58 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Thank you brizzle,
    Spendy weekend, dd1's birthday, I've given her the cash to get a tattoo , her choice I suppose. I made the most amazing chocolate cake for her, so good it put slimming world on the back seat...
    I also spent £115 in the supermarket, the fridge, freezer and cupboards are bursting at the seams. I'm on nights this week and want to be as healthy as I can, so being prepared was necessary. But maybe I went overboard.

    Rent and bnb money paid off cc. Lodger is £ 40 behind as of today. As much as I want the mortgage to reduce more rapidly, the next couple of months priority is to get finances in order to get a new mortgage deal that is a lower interest rate. We have another few bookings to see out February too. We have a lady for 3 nights tonight and a couple next weekend. I block out when we are both on nights as it becomes to much of a juggling act.

    I've left us with around £200 that we can spend, which should be plenty until pay day in 2 weeks.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • EatingTheElephant
    • By EatingTheElephant 14th Feb 17, 7:03 AM
    • 1,072 Posts
    • 5,741 Thanks
    EatingTheElephant
    Chocolate cake sounds amazing. Hope your DD has a lovely birthday.
    • Moneyfordreams
    • By Moneyfordreams 17th Feb 17, 3:44 PM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    the cake was lovely, velvety and thankfully went quickly

    Back on the healthy eating wagon all week... well it should be forever

    I get weighed in the morning after my night shift. annoying but necessary, to get weighed at the heaviest point of the day.
    My only spends this week will be at SW. unless you count the bnb money to the cc

    I will probably get to catch up on diaries next week as I'm sulking being awake too early each day.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • chumpy45
    • By chumpy45 17th Feb 17, 11:07 PM
    • 315 Posts
    • 1,356 Thanks
    chumpy45
    Wow you are always so busy and have so much energy! Chocolate cake sounds amazing (my favourite). Am jealous of anniversary trip plans too! Hope family worries get sorted soon. Well done on sorting CCs.
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017;
    • Moneyfordreams
    • By Moneyfordreams 23rd Feb 17, 5:50 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    I haven't had much time these last few weeks, (thanks for visiting chumpy)
    After 7 nights on my, 7 off are quite sleepless.. I'm managing 5 hours only. So I'm rolling with it, I've had 2 cups of tea and I'm hoping for a snooze before my OH comes home from work ät 6.30. I've even Fb talked to my DD2 at uni

    Mums frailty is increasing rapidly. Her memory is fluctuant from bad to terrible. She was telling my sister yesterday not to wake the twins up as they are asleep in bed (that'll be me then). Its strange really, apart from frailty and her chronic problems, we don't have a diagnosis except being old. My diagnosis is frailty syndrome, but her decline is so rapid. I think we are all so accustomed to labelling things that it's more of a struggle without. Her cardiologist says she's not in heart failure. But for those in the know, she has valve replacement , Af , asthma. But we know the end is upon us. These last few days she's refusing to eat more than a mouthful or 2.. she lost weight at the end of last year, but we managed to feed her regularly and gain some back. Now she 8 stone again, (11st 2 years ago) and can't walk more than a few steps without struggling with weakness or breathlessness. My sister has stayed with her for the last 2 weeks and my brother the 2 weeks before. She needs 24 support now as she's up and down at night either , forgetting what she's done, toilet or tea, or night. I think its time for me to take time off work. My sickness record is amazing, but I'm wondering if I have CL next week, then my planned AL, it would keep my sickness to a minimum. But then who knows how long these things take.... mmmmm any one would think I didn't work in healthcare GP visited this week, says from our information that we could be looking at weeks. My sister has decided not to go back to Dubai just yet.

    I made a mistake early in my diary to make it too personal (yup my diary I know ). But I think ill say this away, which may just be insomnia talking. We are a big family of 8 , who are all over the place and half of us don't speak to the other half, so all the care stuff is complicated by who is avoiding who. I do resent when the brother who lives north of the border for pretty much all of his life, affects my input when I've been here forever. The row with him was over my mother and my sisters and I was treated very unfairly (won't go into that ) but I cannot forgive. I do forget though, I don't let it twist me up. we all didn't see him for the next 10 years and as he is 16 years older than me he left long before my memories start. I never had a relationship with him to lose. my sisters and my mother forgave him when my father was dying 11years ago. And their secrecy had the knock on effect of a fallout with another sister. But she's a crank(y) one anyway who doesn't speak to others without a look of disdain.
    The next few weeks will be a bigger challenge.

    back to money. Lovely mse new credit check gives me a Experian credit score of 999, less worry about cc for re mortgage, I spent a fiver in pound land yesterday.

    Babysitting tonight as DD1 has been asked to attend a works function/event in London. Very proud. She joined a city centre salon a 2years ago and built herself a good reputation after a few rubbish training jobs

    Being on slimming world make my breath smell , but I have lost 9lb this month. No more cake!!!! But I would love to make one
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • EatingTheElephant
    • By EatingTheElephant 23rd Feb 17, 6:26 AM
    • 1,072 Posts
    • 5,741 Thanks
    EatingTheElephant
    I'm awake early too mfd, the wind woke me up.

    Well done to your DD, hope she enjoys the event in London.
    • kirtsypoos
    • By kirtsypoos 23rd Feb 17, 9:10 AM
    • 2,839 Posts
    • 12,668 Thanks
    kirtsypoos
    Morning MFD, Hope you managed a snooze!

    Sorry to hear about your mums decline. It's so difficult to watch that happen to someone you love.

    Thinking of you anyway, and excellent news on the credit score
    £675/3000 OH BC(77.5% PAID)
    PAID VERY, Barclaycard x2, Vanquis, Natwest, O/D, Tesco & MBNA x2 PAID LBM 24/07/15 - Debt: £675/31010.23 (97.82% paid)
    Mortgage - £162,500.00 (2017 O/P £1469.82) PAYDBX 17 #006 - £15600.72/14,539.71
    • Moneyfordreams
    • By Moneyfordreams 5th Mar 17, 9:14 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Money things this month all sorted out

    OPd 275.59 to leave us a clear £1k drop to £164k
    Will have paid of cc2 by end of March, then it will be holiday saves and mortgage OP

    My oh share scheme is due to end soon. The £100 per month for last 3 years has turned into just less than £6k I've said this is his retirement pot. He already collects £200 per month from annuities he took aged 50. We are going to repeat it so he can retire at 65, not 67, and if his health and capabilities still allow once more to 64. I'm wondering if I can pay in a £2k now before the time is up and turn it into £4k by our holiday there probably is a rule about that.

    Still caring for mother. The brother is due in 4 days. I have a week off annual leave. Me and my sis camping at mothers until then.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • Moneyfordreams
    • By Moneyfordreams 13th Mar 17, 9:59 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Oh share scheme a no go. Figures. However her did say people invest smaller amounts annually so every year they are able to make a withdrawal from the starting point 3 years before... something to consider.

    All extra cash towards holiday cc. Only £800 left. I do have more than that in savings but the extra bnb and lodger and wages this month will cover completely.

    Handed over the bulk of mums care to sister who has returned from Dubai.

    Due to all uncertainty, spending has been really low, although dd2 home meaning teabags on the counter not in the bin , bread crumbs on the counter top and no bread from the endless toast she makes.
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • Moneyfordreams
    • By Moneyfordreams 18th Mar 17, 11:53 AM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Had a bit of a spend week, all needed jacket, shoes,..... I've lived in the u99 Chelsea boots I bought 6 months ago. Time to kill a pair of summer flats bought me and both girls new bras from department store sales at 70pc off, sale handbag is oasis for a tenner

    Mum stable at the Mo, I'm planning to return to work Monday. Her confusion is deepening, but she has slept the last couple of nights after staring new meds. She's still very fragile, but sitting and waiting is not doing any of us any favours. This will leave 3 family members who aren't in Ft work to 24 hour stay with her and others picking up on our days off. I will request to stay on 3 long days to enable my 4 days off to be support.

    Off to see beauty and the beast with dd1 and gd,
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • newgirly
    • By newgirly 18th Mar 17, 12:13 PM
    • 5,716 Posts
    • 39,166 Thanks
    newgirly
    Sorry to hear thangs have been so rough with your mum, its such a horrible situation to be in. I hope you enjoy then film today, we saw it yesterday and it made me and dd cry, so many memories of my little girl dressed as belle as she was growing up, I hope you have a good weekend.
    MFW 21
    Target for 2017 £38,545 / £14,264 paid so far

    Mortgage £48,846 4 years 9 months left. Total owed £66,122 planning to clear in 24 months
    WW target - 29.5 lb start date 11/5/17 so far 10.5lb lost.
    • Moneyfordreams
    • By Moneyfordreams 19th Mar 17, 1:30 PM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    Thanks newgirly, it all feels very strange. My boss told me to take another few weeks off. my time up to now has been days off, annual leave and then carers leave. I'm never sick and have been concerned about it... It will take the pressure off the home front, as my sisters are feeling the stress too.

    money news, received my 15 page mortgage statement a couple of weeks ago

    yesterday I received my 27 year old, wrongly sold personal pension. Year 2015 £1900, year 2016, £1800.... this year it has £2280 balance ..... projected payout at 55 (8years) £2500
    I was hoping to nearer £3k.... such odd figures, i'll just keep my fingers crossed.

    I baked another chocolate cake this week, and have just left some bread dough to rise. Slimming world seems to have been put on the back burner this week
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
    • Moneyfordreams
    • By Moneyfordreams 19th Mar 17, 5:41 PM
    • 858 Posts
    • 4,158 Thanks
    Moneyfordreams
    forgot to mention

    a few weeks ago I read on here about claiming union fees from PAYE. I claim for work items, uniform laundry and professional registration, this was missed !!

    New tax code sorted , online application. £250 per year

    now I wonder if they can refund 7 years , hahahaha
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £159800
    h@lifax CC £4500 0% until May 2018.. will pay minimum for now, slow stooze
    xmas, chairs, hoover, computer and holiday [STRIKE}clothes[STRIKE] DD1 cc
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