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
    • 4,420Thanks
    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 29
    • jodles16
    • By jodles16 24th Sep 17, 5:39 PM
    • 1,315 Posts
    • 3,962 Thanks
    jodles16
    Wow MFD! You have been so busy, I hope you are having an amazing time on holibobs and come back refreshed!

    Jodles
    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 6th Oct 17, 12:31 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Thanks all for your messages

    We had a lovely holiday... OH was a moody g!t once or twice. I think its age related grumpy old man syndrome. 12 out of 14 perfect days is a good result. I don't think he likes being out of his comfort zone... at the Greyhound bus station in Las Vegas his face was a picture of horror/fear/confusion/snobbery just at the surroundings, the locals..... I kept having to poke him in the ribs to stop him shaking his head... . In LA , taxi past Skid row where miles of homeless people live in tents on the pavements was literally Jaw dropping and so sad. It's a problem of many presidents and cannot be blamed on the current one.

    We under spent by around £500 which has been paid to the CC . This is a miracle in itself as things were just so expensive.

    If I were to do things differently I wound spend an extra night in Vegas or LA and return from the LA as we flew back to San Francisco for the final night and flight home.

    DD2 made us an amazing welcome home cake... her first effort... perfect , and she painted a hand made welcome banner... I think both our daughters and grand daughter missed us

    Now to sort out the finances ,

    DD1 owes £150 but will pay £50 off that today
    lodger owes £240 , he will pay today.
    @irbnb 15 nights for October with projected pay out £450

    I have £700 unspent from salary
    EF £2k intact
    household bills get sorted mostly from OH salary and up to date

    CC @ £3k this am
    0% cc is at £4300

    Mortgage is £158k as has had an OP of 107.86 this month

    May aim is to clear the £3k card by end of November whilst keeping EF (old boiler worries )

    All extra income to be thrown at that.

    DD1 off to NYC on her prize trip on Sunday , childcare will be needed
    DD2 taking a Gap year and is off to South Wales to view uni's, she has got out of the South uni let saving her £5k this year (and taking me off the guarantor, phew )

    Sure I have more to say... but glad to be home. A Lidl weekly shop is the same price as 2 beers and 2 wines.. SMALL ONES
    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
    • greent
    • By greent 6th Oct 17, 2:00 PM
    • 6,507 Posts
    • 65,678 Thanks
    greent
    Sounds like a great trip - but ouch to the cost of drinks!

    Great money news above!
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next: BTL Mtge 12/16 £69786. 2017 OPs (#18) £5278/£3286
    Net sales 2017 £1259.72/£500 PAYDOX17 £12239/£10k Decluttered 1870/2017 items
    • Moneyfordreams
    • By Moneyfordreams 7th Oct 17, 7:52 AM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Thanks Greent, it was lovely.. relaxing and hectic at the same time. Thankfully I'm not back at work until next Friday... We have some babysitting to attend to first

    OH and I cleaned the house yesterday , last nights guests only staying one night then today's arrivals are here for 3.

    awake since 4am... I can't say its jet lag... more back to normal , OH has already walked to the supermarket to get the bits I missed yesterday.

    DD2 used 8 toilet rolls during our 2 week holiday ... we've had to have a talk about over usage

    Day one of new diet completed... detox headache and lethargy expected. I'm hoping to get some exercise in over the weekend and not completely flake out.
    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 7th Oct 17, 12:10 PM
    • 5,898 Posts
    • 40,629 Thanks
    newgirly
    Wow how much for the drinks glad you enjoyed it though
    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.
    • Moneyfordreams
    • By Moneyfordreams 8th Oct 17, 9:35 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Onwards and downwards now NG, money for future not for booze (this week )

    walk to the supermarket this am, took pennies and silver ... left purse at home. We only needed spuds for dinner and OH wanted some beer (£2.49 for 4 ) did say to OH, he had to contribute his pennies too... think he wanted me to get his booze .

    had my winter boots heeled before our trip, £8. they were my reduced Chelsea Uggs from last year.
    have done a couple of pulse surveys for 23p.

    paid cc £120 weekend bnb money. and have £250 lodgers rent to pay into the bank then cc tomorrow.

    day 3 of diet... I'm starving... well just would like wine, crisps chocolate.. and a dinner twice the size it was...
    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 14th Oct 17, 2:17 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Well I did say all extra money is to go to the CC. and I have kept up with that, and a bit extra such as rounding up, £80>£100, £30 >£50 . I have reduced our EF by £500 to pay towards CC now that DD1 is back on home soil. Lodger is paying his rent in cash which is a bit of a nuisance as I will have to get to the bank on Monday to deposit it.

    I confess though I have booked a holiday cottage in York for 2 nights early November for us to attend a christening. Friends we have not seen for a couple of years have a new born, so it will be lovely to visit. I was planning to use airbnb travel voucher but the places were that little bit too far to make it economical and timely. I thought we have lost the voucher but @bnb have given us another for $100

    The supermarket shop of last week still hasn't been used so no big shop this week. Maybe we'll do a freezer challenge

    Over the next few weeks I need to sort out the internet and the G&E. Vodafone internet has been stupidly poor. At busy times, tea times and evenings it may take 2 hours to get a film ready to watch. I will probably go back to sky.

    I really really really wish an estate agent fairy would wave a magic wand over our house and bring a buyer...
    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
    • michelle09
    • By michelle09 14th Oct 17, 5:25 PM
    • 451 Posts
    • 1,802 Thanks
    michelle09
    I really really really wish an estate agent fairy would wave a magic wand over our house and bring a buyer...
    Originally posted by Moneyfordreams
    That sucks. Have you had many viewings?
    • Moneyfordreams
    • By Moneyfordreams 16th Oct 17, 12:04 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Hi Michelle, TBH we are not yet on the market. We were on 3 years ago for about a year with 2 different agents. we had 20ish viewings, one offer that was pulled (after I'd paid for a survey on another property) and one other expression of interest that never got anywhere. My OH does not want all of those viewers again so I'm in the process of arm bending and nagging to get diy jobs completed.

    Last time we twitched the lodger and he moved out. I don't want to do that again without being truly certain of a buyer and a move. So I have to exercise some caution .

    I'm 75% sure I will put it on in the spring. A local family said they wanted to buy it a couple of months ago at a bbq we were at. however that didn't come to anything. They have put photo's on faceache of their decorating and I wonder if they will put their house on the market again.

    I could still buy a lovely property with £200k and reduce mortgage by £50k and that would be selling at out cost of the house 12 years ago. anyhow... that's why I need magic

    We have a couple of extra bnb bookings this week , so 5 nights booked.

    I need to walk to town to put rent in the bank which will go off Cc.

    I need to got through our bills. G&E fix end next month. I need to change tariff or company. I need to find better internet provider. Vodafone is awful.

    My sister gave us mums old car. She has never learnt to drive and it was the 2nd car she had off mum. We did have it a few years ago until she was ready for it after mum stopped driving. Its an old Y reg corsa, not worth much but has low mileage and drives well. OH wants a day job now he has transport. If he got full time we probably would really limit @irbnb. We obviously now have 2nd car costs.
    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 17th Oct 17, 9:22 AM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Didn't pay the cash into the bank yesterday as I am waiting on a bill. Some unkind person has taken the drivers wing mirror off my car at on Saturday. The casing burst open but glass intact. OH has asked our mechanic if it can be put back together rather than replacement.

    Extra night from guests will pay cash. I've donated to OH, as a keep him sweet payment

    OH and I had a date afternoon yesterday. It was the fist time in a long time my purse stayed closed

    I suggested OH goes to the job centre this week.... He came back with "there is a 4 night contract available at work, I'll go for that"..... result I think
    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 18th Oct 17, 7:10 AM
    • 5,898 Posts
    • 40,629 Thanks
    newgirly
    How annoying , hope you manage to get the wing mirror fixed cheaply. Good news on your dhs job though
    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 18th Oct 17, 7:30 AM
    • 7,159 Posts
    • 34,769 Thanks
    brizzledfw
    Just catching up....so so pleased re the holiday. You sound very focussed on health, money saving and big plans for moving house. Best of luck with it all
    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 20th Oct 17, 2:18 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    continuing to pay all extras off CC
    now we have extra on cc because of giving all of our cash to DD1 for her house purchase (£8k) and I wanted to keep holiday money and emergency fund separately.

    have just deleted moany post.... need to have a chat with DD1 ....
    Last edited by Moneyfordreams; 20-10-2017 at 2:26 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 £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 20th Oct 17, 8:36 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Talked with DD1, at least she is cool with things being discussed (unlike DD2) she understands our worries and frustrations... I've said my piece and its all amicable.

    Wing mirror was done by the local mechanic friend of OH, he's semi retired and tinkers with cars. He charged £15 We gave him £20 We have avoided the garage this year with the extended warrantee, my sanity is worth throwing it in the bin.

    We have a couple of trips coming up. I've confessed to the York christening, however I had forgotten DD2 had bought OH John Bishop tickets last Christmas.... She booked it in Manchester. I've managed to use the @irbnb gift voucher and got the price of an apartment down to £26 from £100

    May balance out my new membership to Sl1mming Worl2 . The group leader I've seen many many times over the last 5 years. She asked us to fill in card shaped as xmas baubles to put our xmas wishes .. I peddled the usual , 20lbs (this side of xmas) , but thinking about it, I not only want to feel fitter and move more easily, I want to be able to take my wedding ring off , if only for a few minutes and I would love to cross my arms across my chest without reminding myself of Hattie Jaques
    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 24th Oct 17, 12:17 PM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Still ploughing away at the cc, a 3rd gone since our return.

    @irbnb has been really lucrative this month. We've had 3 nights off since the 5th. Was planning a restful couple of days then more bookings up to next Sunday , with 4 different couples, so a bit more work. But as above, all improving our bank or CC balances

    OH is laid up with a sore ankle. He's moving a bit better today but its still swollen. It's likely to be degenerative in someway but will he heck go to the Dr's. I assess these things for a living. It's happened a few times but never has been so debilitating. So My days off are making beds and cooking meals for OH ( I gave him the kitchen years ago )

    Seen as yesterday and today are my weekend days, I tried M&S low calorie low alcohol wine last night. Was quite enjoyable. Didn't taste watered down at all. I did feel a little cheated by the end of the night, although that is a positive no drunkenness so why not drink water or juice really

    I bought soda crystals probably 2 years ago now. Used them once and they have been in the corner of the laundry room since. I remember seeing oven hood filters cleaned by them so I gave it a go. Left them in soak for a couple of hours (forgot about them ) and the grease just melted off them... Thrilled.
    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 27th Oct 17, 9:23 AM
    • 7,159 Posts
    • 34,769 Thanks
    brizzledfw
    Very pleased for you re Air BnB and soda crystals...loving the very practical posts
    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
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

2,188Posts Today

6,806Users online

Martin's Twitter