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
    • Moneyfordreams
    • By Moneyfordreams 5th Nov 15, 11:32 AM
    • 902Posts
    • 4,398Thanks
    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 £116.66 = £1833.00
    October £107.90 = £1940.90
    November £100
    December £100



    http://www.whatsthecost.com/snowball.aspx
    Last edited by Moneyfordreams; 07-10-2017 at 7:54 AM. Reason: to add link
Page 27
    • Moneyfordreams
    • By Moneyfordreams 4th Jul 17, 9:57 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    The last few weeks have gone in a blink. We have removes the Ivy hedge from our front terrace leaving us quite open now... I must have done about 20 tip runs, our best investment was a one tonne bag from the builder yards for a fiver.

    bills all up to date, mortgage interest on the new deal has reduced by £100 per month to £7.69 a day

    Unfortunately/fortunately we have not been paying as much to the mortgage because of DD1 and our Holiday.

    DD1 should exchange contracts by the end of the month and we will gift her the deposit £7.5 k.... kinda weird aren't we, the only time we have a few bob in years and we give it away

    Then savings will need to be replaced for September spends.

    off to pick DD2 up from the south tomorrow for the summer... room for the night plus petrol leads to overspend. But it will be lovely to have her home for a bit (in theory )

    Garden abour looks loving and a Victorian metal swing arriving today, we may well put off new railings and staircase until next year..
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • CathT
    • By CathT 4th Jul 17, 10:18 AM
    • 5,357 Posts
    • 36,784 Thanks
    CathT
    You have been busy! Great news on the lower mortgage rate on the new deal.
    Nov 2017 -
    part 1 - £79,999
    part 2 - £46,117
    Total - £126,116
    • brizzledfw
    • By brizzledfw 6th Jul 17, 10:01 PM
    • 7,156 Posts
    • 34,738 Thanks
    brizzledfw
    Yep well done..sounds great and nice to have DD2 home.

    Hows the wider family? Managing?

    xx
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    Winter 17/18 Savings Rate Goal: 25% [October 30%]
    Declutter 200 items before 31.01.18 xx/200 ** LSDs Target 10 for Winter 0x/10 **AFDs xx/15 ** Sales Target '17 £750 £225 so far
    **NSDs Target 10 for Winter xx/10 Trying to be a Frugalista
    • Moneyfordreams
    • By Moneyfordreams 11th Jul 17, 11:43 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    Wider family is quite segregated now. Mum moved into sisters a few weeks ago. no news is good news.... there has been a few challenging emails... same one repeatedly for 5 days..... I'm not responding. Sister from the south visiting this weekend and will bring mum to me on Sunday. TBH I'm so busy with other stuff , I'm just carrying on.

    Doing a few OTs in the next few weeks to add to our holiday spends, and also have nights again for 2 weeks in August. This will help the bank balance massively.

    Bookings all good for the time being, some space week days in August but 11 nights so far, and I've blocked out some as working the nights and I need my sleep.

    I received a tax rebate of £19.60 it was a nice surprise, OH has ran out of cash though, so it will be redirected to him. He is doing a fab job of keeping house, but I'm going through the sell up and move again phase. I'm working my @@@@ off to pay a mortgage in a place I'm fed up with. It's a lovely area but a tall terrace (with views ) I want privacy and a proper garden, and £50k less to pay
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • brizzledfw
    • By brizzledfw 15th Jul 17, 11:25 PM
    • 7,156 Posts
    • 34,738 Thanks
    brizzledfw
    Is it worth moving? I wasnt sure round here when I looked last given stamp duty costs etc. Surely worth staying put when you're so close to a MFD?

    Glad all good with you xx
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    Winter 17/18 Savings Rate Goal: 25% [October 30%]
    Declutter 200 items before 31.01.18 xx/200 ** LSDs Target 10 for Winter 0x/10 **AFDs xx/15 ** Sales Target '17 £750 £225 so far
    **NSDs Target 10 for Winter xx/10 Trying to be a Frugalista
    • newgirly
    • By newgirly 16th Jul 17, 8:08 AM
    • 5,861 Posts
    • 40,044 Thanks
    newgirly
    No wonder you are a bit disheartened mfd's , you work hard, have had a difficult year and have had lots to pay out for! Stick with it, you will get there in the end
    MFW 21
    Target for 2017 £38,545 / £17,514.78 paid so far

    Mortgage £47,354 years 8 months left. Total owed £62,871.22 planning to clear in 18 months
    Weight loss target 37lb/22lb gone.
    • brizzledfw
    • By brizzledfw 20th Jul 17, 10:49 PM
    • 7,156 Posts
    • 34,738 Thanks
    brizzledfw
    How's it going? Keep posting, we like updates

    Hope alls well xx
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    Winter 17/18 Savings Rate Goal: 25% [October 30%]
    Declutter 200 items before 31.01.18 xx/200 ** LSDs Target 10 for Winter 0x/10 **AFDs xx/15 ** Sales Target '17 £750 £225 so far
    **NSDs Target 10 for Winter xx/10 Trying to be a Frugalista
    • Moneyfordreams
    • By Moneyfordreams 22nd Jul 17, 8:33 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    OMG just lots a long post
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • Moneyfordreams
    • By Moneyfordreams 22nd Jul 17, 8:55 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    Thank you Brizzle and Newgirly,

    MSE has taken back seat to babysitting and work.... plus I'm not OPing as much to balance other commitments.

    DD1 has exchanged contracts.... we have parted with £7.5k... or Oh's supermarket shares paid out £5900 after we had paid £3600 over 3 years.
    leaves us with £1.5k after I've paid off the cc. but DD1 owes us £550 too. so still a float, or afloat
    we need to get some holiday spends together.... July and August salary is doable

    our little GD 3 1/2 years old runs us ragged. My husband has spoilt her rotten. I'm the 'no' person, so I get the tears ( and the snitching).

    I will think about moving in the spring. OH doesn't want viewers, although he wants to work less. Our house had about 20 viewings last time, we had one offer which they pulled after a week. Soul destroying as I'd paid for a survey on a fabulous house. We missed out on a few fab houses then
    I don't want to upset the applecart either with the lodger. Last time we had viewers our last lodger was unsettled and left , understandably.

    DD1 has won a national competition : a trip to the big apple. We don't know the finer details yet, it was with work. An international company is providing the prize, She has said I can go with her ( OMG torture hehehehehe) either way it would be.... who will look after her 3 year old !!!!! We are already having her 1st week in September for 4 nights while she goes to Ibiza. I will either swerve it, or end up paying for the little one to go with her.

    So this week is now Annual leave. .... I need it. I've had a roller coaster of a few weeks in work.... Hero to zero it felt like.... Yesterday I went on a visit to the new building, which I think upset older colleagues.. blaaaaaaaggghhh. These days I'd rather plod in the background and be invisible.
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • Moneyfordreams
    • By Moneyfordreams 22nd Jul 17, 10:21 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    just checking accounts. My OH got paid yesterday (I missed it !!!) a couple of months ago when he was emotional he said he couldn't keep up with the night work .... so he dropped a night a week.... last month his salary was £636, this month £536..... I will have to get him to investigate... He expects £100 pocket money from this and it barely covers this bills. So I can't do... He has been making more beds, but we've given our cash away... and are going on a holiday that will cost squillions seemingly.. I think we will have do the talk He did suggest booking in a few extra shifts for holiday spends...... ermmmm it might be a reality rather than suggestion.... roll on October when things get back to normal

    I was kind of thinking a food account.... so he doesn't spend all of his cash on food.... It might stop him over spending on trips to supermarket. I have a spare current account to use. but I doubt that it will be just food. mmmmm thinking through the keyboard.
    Last edited by Moneyfordreams; 22-07-2017 at 10:28 AM.
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • Moneyfordreams
    • By Moneyfordreams 28th Jul 17, 2:32 PM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    another missing post so less of a ramble.

    best pay since Feb . all monies moved to where they should, almost.

    I don't want to pay off the cc in full though. we have £1500 to come from the house in the next 2 months before our holiday. I'm planning to keep the cash again, I think, although not spend more on card, reduced it over 4 months. then from there I will reduce the 0% card. it has another year but I just want shut.

    I will continue to OP the £100 minimum to mortgage, and will zero it down too. but I think once the holiday is out of the way we can be debt busting.

    DD1 has exchanged contracts, the guy she is buying off advertised as no chain, she's been told the last 2 weeks she is to get the keys each Friday. Her vendor has been stalling as he is buying a house now and his searches are not complete and he doesn't want to pay rent!!! Well neither does DD1... she has badgered her EA's and solicitors to get a keys on Monday.. (we hope).

    DD2 has settled back into princess mode, demanding food cooked for her at different points of the day. She was quite slim when we collected her, she's now eating us out of house and home.
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • brizzledfw
    • By brizzledfw 28th Jul 17, 4:45 PM
    • 7,156 Posts
    • 34,738 Thanks
    brizzledfw
    Tough re house decision. You sound like you live in lovely area though so be sure if you need to go.

    I have just read your last few posts and feeling inspired have scheduled some OPs for the Autumn. Need to crack on if OH is to get to 51 with a cleared mortgage....

    Xx
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    Winter 17/18 Savings Rate Goal: 25% [October 30%]
    Declutter 200 items before 31.01.18 xx/200 ** LSDs Target 10 for Winter 0x/10 **AFDs xx/15 ** Sales Target '17 £750 £225 so far
    **NSDs Target 10 for Winter xx/10 Trying to be a Frugalista
    • Moneyfordreams
    • By Moneyfordreams 29th Jul 17, 8:10 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    It is a tough one, we love our area, but we made a mistake buying this house. It took me years to accept it. I only liked it when I thought I was going to lose it. Money pit, band aid house, mill stone.... it's been called more than them, however it is home and I'm now calling it a HMO.

    One thing about my OH is he dislikes making anyone unhappy, he's not a yes person in everything, but instead of saying NO when I suggested moving he said yes (we had had a few troubles at the time)... I later found his business was hanging by thread, so this house has always meant extra work on my part...

    We are off to an old friends BBQ today and hoping the rain stays off. OH has the night off, he has swapped it to somewhere else rather than a holiday.

    I'm back to work Monday for a little early shift then back on nights at the week end.. OH keeps saying "we have nothing planned until our holiday, plenty of time to save".... it just never quite works like that
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • Moneyfordreams
    • By Moneyfordreams 1st Aug 17, 7:24 AM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    Well I was right in saying "it never works out like that"..... DD1 got the keys to her new house yesterday, but she has to be out of her rented place today...

    The vendor was a filthy so&so who left he place in a disgusting state. Where is his pride!!... He left behind a load of rubbish, mouldy fridge, quilts, bedding, tv, sofa, lamps, underwear, coffee tables, yuk yuk yuk. I would have taken responsibility for it, but due to the state of the place DD1 has spoken to the EA and they have said they will charge him for rubbish removal. That all now waiting removal in front of house. (too small to call garden)

    Toilet doesn't work,,,,, least said about that the better.... its a good job I have a strong stomach.... the cistern won't fill, well it takes an hour to fill .... It's a newer design of loo and Mr google says might be a blocked valve. I might have a go later or leave it to the lodger. The exterior pipe looks rotten at that point too, only a few inches of it. It may be cheaper just to buy the new internal kit.

    When DD1 went to open the door for the first time the handle came off. We kept smiling... but chri$t no security!!. after driving around the local DIY shops for the fittings and no success, I went to BNQ and their own brand was perfect. £26 v's yale at £30 to £80.

    We knew the floor joists were likely to need replacing in the hall. it was bouncy and dipping when we viewed , but took that into consideration. Lodger going to fix those next week... I doubt DD1 will be able to repay me the money owed (she promised me her deposit return), however I have said I will give the lodger a weeks rent free to do her floors/joists. I think the bathroom joists need sorting too.

    So today I have been awake since 4am. I have said to DD1 I will be at hers to 8am to start moving the smaller boxes in my little 207 that's fab with the seats flat. Then she can start cleaning each room as we leave. She will only get her deposit back if she replaces the 2 bedroom carpets, so that's my OH's job today. After he's prepared our guest room for a 4 night stay!!! Oh and fit DD1s carpets in new place, start laminate in Gds room ETC .... phew.... Who's house is it again

    I'll be doing furniture removals to keeps Man and van costs down, and probably going to the tip too.
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • shangaijimmy
    • By shangaijimmy 1st Aug 17, 7:34 AM
    • 2,232 Posts
    • 10,265 Thanks
    shangaijimmy
    You'll need a holiday after all this running around! Not to mention some tlc on the bank accounts!
    MFW: Turning June 2036 into March 2023... 32//120 Payments Challenge, Diary Reduction £34,271.00
    Aug 2009: £163,051 // Current: £101,729.00 // Avg Daily Interest £4.57
    MFiT-T4 #8 - 56.74% of £41,000
    • EatingTheElephant
    • By EatingTheElephant 1st Aug 17, 7:46 AM
    • 1,152 Posts
    • 6,177 Thanks
    EatingTheElephant
    Oh no what a nightmare mfd. Hopefully she will be all settled soon.
    • TallGirl
    • By TallGirl 1st Aug 17, 8:23 AM
    • 4,194 Posts
    • 8,665 Thanks
    TallGirl
    Oh dear sounds horrible let's hope things improve from here at least you got some help sounds like OH is a start hope your daughter appreciate the two of you
    • Fortune Smiles
    • By Fortune Smiles 1st Aug 17, 9:11 AM
    • 2,570 Posts
    • 21,137 Thanks
    Fortune Smiles
    Feeling your pain MFD. We've been in the house 3 weeks tomorrow and I've still not got through all the cleaning and the unpacking How awful for DD1 to find all that mess after the excitement of picking up the keys. It will be fabulous in the end though.

    Fortune x
    Mortgage: 2.02% paid House Deposit Contribution: 84% Emergency Fund: 43%

    All we have to decide is what to do with the time that is given to us - J R R Tolkein
    • Moneyfordreams
    • By Moneyfordreams 1st Aug 17, 7:30 PM
    • 902 Posts
    • 4,398 Thanks
    Moneyfordreams
    Thank you everyone

    We've got through the day, DD1 and OH needed a prod to get going but in the end we all worked our socks off. I agree totally fortune, the cleaning will go on for weeks. OH played a blinder this pm as he fitted the stair carpet and underlay, a bedroom carpet and underlay, and laid the underlay for GDs bedroom.

    I must have made about 6 or 7 trips, then went back to hoover old house, then was kitchen diner cleaner and sorter.... I'll be glad to go to work tomorrow.

    Thankfully DD1 is over the moon
    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 £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
    • newgirly
    • By newgirly 1st Aug 17, 9:18 PM
    • 5,861 Posts
    • 40,044 Thanks
    newgirly
    Glad your Dd is settling in now, it's shocking how some people leave so much mess when they move out, ours was filthy too when we moved in many years ago.
    MFW 21
    Target for 2017 £38,545 / £17,514.78 paid so far

    Mortgage £47,354 years 8 months left. Total owed £62,871.22 planning to clear in 18 months
    Weight loss target 37lb/22lb gone.
Welcome to our new Forum!

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

Forum Team Contact us

Live Stats

4,016Posts Today

9,619Users online

Martin's Twitter