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  • FIRST POST
    • EatingTheElephant
    • By EatingTheElephant 26th Jan 16, 7:50 PM
    • 1,128Posts
    • 6,066Thanks
    EatingTheElephant
    Time to get serious
    • #1
    • 26th Jan 16, 7:50 PM
    Time to get serious 26th Jan 16 at 7:50 PM
    Hello Everyone

    I have been reading this forum for quite a while now. There have been many mentions that a diary has helped many of you with your goals, so I'm here to join in and knuckle down.

    My oustanding mortgage is very small, that is not the real challenge!

    This year the mortgage will be gone, however we are really keen to move.

    Getting a mortgage for the type of house we want will be difficult, so the plan is to save as much as possible. It doesn't help that I am very impatient!!

    The initial focus is to clear the current mortgage and reduce the outgoings. On the 1st January it was £9400 and I was hoping to have it paid off by the end of the year. It is currently at £3900

    So far I have claimed credit back from energy suppliers, claimed outstanding expenses from the business and sent off scrap gold. Ate from the mealplan, there was lots of food left over from Christmas and used the nectar points at $ainsburys and T3sco points for food, claimed the cashback sitting in T0pCashback, scoured all the accounts to shuffle bits into the mortgage and bought virtually nothing all month (not sustainable I know!!).

    Off to hunt for the next financial area of focus....
Page 32
    • EatingTheElephant
    • By EatingTheElephant 11th Jun 17, 7:35 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    Thank you SHS and TH, the fire was definitely one of the big plus points for buying this house. I did think an open fire might be a hassle and had thought we would swap it out for a wood burner at some point. I'm not so sure now, as the fire seems quite easy to do.

    On the go again all day yesterday, did most of the ironing, although didn't manage it all as hubby had the electrics off for a bit.

    Walked the dog a couple times, didn't quite make up for the lack of walking in the week but did make me feel a bit better. A local person stopped to talk and said the trees down where I was walking were fruit trees so there are a lot of windfalls later in the year. Fabulous!

    Walked a pony, which was planned and had to fix a stable roof, which wasn't planned. A piece had blown off in the bad weather. Thankfully we had a spare piece left from when we repaired the rest of it a while back.

    Fixed the dog coats - this was what I do when the electric was off! Just sewing straps back on so they will actually stay on.
    • Busy Mee1
    • By Busy Mee1 11th Jun 17, 8:09 AM
    • 388 Posts
    • 1,468 Thanks
    Busy Mee1
    Hi ETE you sound very busy but very settled in your new home

    We currently can't make our minds up about whether to have an open fire or to get a wood burner, so interesting to hear that your fire isn't too much hassle. It is very windy here today, so hope you don't loose any more roof.
    • EatingTheElephant
    • By EatingTheElephant 11th Jun 17, 8:24 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    Thanks BusyMee, I'm quite surprised about the open fire. I'm not sure if we have a 'special' type but there is a grate that all the ash falls through and you just pull the shelf thing out and all the debris can then be disposed of easily. Doesn't seem to fill up that much either so we haven't done it every time, I thought there would be loads of cleaning to do after every use from thinking back to my Gran's fire when I was a child, so I guess they may have improved nowadays!!
    • Fortune Smiles
    • By Fortune Smiles 11th Jun 17, 10:29 AM
    • 2,549 Posts
    • 20,949 Thanks
    Fortune Smiles
    We have a wood burner and love it. Open fires are great too but the things we appreciate about the wood burner are that the burner itself heats up and continues to warm the room after the fire goes out and I feel quite safe leaving it burning when we go up to bed or go out.

    Fortune x
    Mortgage: 1.2% paid House Deposit Contribution: 80%

    All we have to decide is what to do with the time that is given to us - J R R Tolkein
    • smallholdingsister
    • By smallholdingsister 11th Jun 17, 11:22 AM
    • 3,403 Posts
    • 26,507 Thanks
    smallholdingsister
    Woodburners are much more efficient but you don't get quite the full experience.

    Your Gran probably burned coal which is mucky.
    • EatingTheElephant
    • By EatingTheElephant 11th Jun 17, 2:14 PM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    Thank you both for adding your thoughts on open fires and wood burners. That makes complete sense about feeling safe leaving it burning in a wood burner. We have had to work out how to time it so it isn't roaring away at the time we want to go to bed.
    You are quite right SHS, thinking back it was coal, so that explains the difference.

    We are back from a lovely ride on the horses, the washing I hung out this morning is all dry and some more logs from our wood harvested. There is stewing steak starting to smell lovely in the slow cooker for a steak & ale pie tonight for when DD1 and DGS come for dinner.

    It is starting to feel like we can enjoy the fruits of our labour, even if we still have a long way to go to clear this new mortgage. The first mortgage payment comes out this week and I will be setting up the account for ad hoc payments via online banking this afternoon.
    • try harder
    • By try harder 11th Jun 17, 4:19 PM
    • 474 Posts
    • 1,536 Thanks
    try harder
    I have woodburners too and love them but i love an open fire too .I have a coal fired aga and i do find that everything in the kitchen gets covered with a film of black dust even the blinds which is very annoying ,it doesnt seem to happen with the woodburners and we are very lucky that we always seem to find free wood too.
    • EatingTheElephant
    • By EatingTheElephant 15th Jun 17, 6:38 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    What a complete difference in the weather this week, lots of fields have been cut for hay now and the smell is wonderful.
    It looks like the switch to BG hasn't been entirely successful, as we've received s bill from the previous supplier, but just for Gas and the BG app only says electricity. So more admin and chasing needed there unfortunately.
    Money shuffle completed to avoid account charge on the vantage a/c. I need to find the cinema vouchers too, as I'm sure they expire soon.
    A small food top up completed on the way home means we are ok for meals for a while, meal plan was completed to reflect what food there is in the freezer and I'm missing about 7 days worth until the end of the month. I'm hoping to stretch some of what we have.

    The dog food delivery arrived and I overestimated the size of the freezer for his food. Two month's worth of food didn't quite fit in, so had to put some in the big main freezer. I need to remember this for next time!

    Top of my list at the moment is that I need to shuffle travel expenses from the business account. It's going to be a tricky one as we moved halfway through the month, so needs a bit more thought than a normal month.
    • EatingTheElephant
    • By EatingTheElephant 15th Jun 17, 6:55 PM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    It's been an exciting day today. The 4x4 is back on the road, patched up for a little bit longer and our first mortgage payment came out the bank
    • Tahlullah
    • By Tahlullah 15th Jun 17, 7:12 PM
    • 783 Posts
    • 4,669 Thanks
    Tahlullah
    Congrats on the small wins!
    Striving to be mortgage free.
    • chumpy45
    • By chumpy45 15th Jun 17, 8:50 PM
    • 315 Posts
    • 1,366 Thanks
    chumpy45
    Exciting times. Congratulations on the first new mortgage payment. That's one lot of interest that will never need to be paid again
    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;
    • shangaijimmy
    • By shangaijimmy 15th Jun 17, 9:44 PM
    • 2,207 Posts
    • 10,146 Thanks
    shangaijimmy
    Congrats on new mortgage, but the main question is when will the first OP come out!!
    MFW: Turning June 2036 into March 2023... 30//120 Payments Challenge, Diary Reduction £32,077.72
    Aug 2009: £163,051 // Current: £103,922.28 // Avg Daily Interest £4.67
    MFiT-T4 #8 - 47.86% of £41,000
    • EatingTheElephant
    • By EatingTheElephant 16th Jun 17, 7:44 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    Thank you all, it seems silly to be excited about it, but I feel as if I am on the journey to clearing it now!

    The rough plan is not to OP until the third year, first year is recovering our finances. We used a big OD and yearly bill money in order to purchase this house so we could keep our old house. Which wasn't the original plan! Then we have the extension to save for and build.

    I have to admit though, I'm incredibly tempted to just throw small amounts over to OP and I need to keep reminding myself that it is crazy, especially whilst there is a huge OD to clear!

    I do anticipate making the first OP before the end of the first two years though, just to check the settings are set up correctly on the online banking of course
    • shangaijimmy
    • By shangaijimmy 16th Jun 17, 7:51 AM
    • 2,207 Posts
    • 10,146 Thanks
    shangaijimmy
    I'll give you till Christmas...even if its a token rounding down gesture!
    MFW: Turning June 2036 into March 2023... 30//120 Payments Challenge, Diary Reduction £32,077.72
    Aug 2009: £163,051 // Current: £103,922.28 // Avg Daily Interest £4.67
    MFiT-T4 #8 - 47.86% of £41,000
    • EatingTheElephant
    • By EatingTheElephant 16th Jun 17, 8:11 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    I'll give you till Christmas...even if its a token rounding down gesture!
    Originally posted by shangaijimmy
    I'm not denying it
    • hiddenshadow
    • By hiddenshadow 16th Jun 17, 9:47 AM
    • 2,242 Posts
    • 10,119 Thanks
    hiddenshadow
    There is something to be said for the psychological win, even if it's not a mathematical/financial win.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Oct '17 £106,575
    2017 MFW #56: £13,093/£20,000 65% / MFiT-T4 #15: £52,924/£90,000 58%
    • EatingTheElephant
    • By EatingTheElephant 17th Jun 17, 7:49 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    It's good to have reached the weekend. I had a lovely evening last night exploring with hubby and the dog. We put in quite a few miles walking then had a sains deli pizza and a cider.

    We are riding early today before it gets too hot, then I must get lots of admin stuff done - probably whilst sitting in th garden. I've had an electric bill from existing supplier and BG have taken money for electricity, so goodness only knows what is going on there!

    Have a great weekend everyone
    • EatingTheElephant
    • By EatingTheElephant 18th Jun 17, 8:20 AM
    • 1,128 Posts
    • 6,066 Thanks
    EatingTheElephant
    What a productive day we had yesterday, I'm feeling it a bit this morning though!

    Lovely ride with the horses, although my boy was a bit naughty when we turned for home.
    About 3 hours admin done, sorted address change on dog's insurance at last and I was surprised the premium went down. I didn't realise pet insurance used address for calculating premiums.
    All travel money from business account to bills account. Gas and Electricity all sorted, gas switching is still in limbo but apparently it's normal for gas to take longer.

    Completed access to mortgage, so I can now phone up whenever I want for a balance update. Currently at £234,344.07 Sorry AFK there will be no rounding down for a couple months yet.

    Also sorted a self filling trough for stables, although not mse it will save time. Whilst hubby was getting the polypipe he also picked up timber for doing the chicken run frame

    In further money news, providing our large contract continues for a few more months, a bit of jiggling and we should be able to get back to a positive balance sheet in August. It's a bit difficult to tell if it will as the customer is extremely chaotic, but good to have a plan if the money does keep coming in.
    • try harder
    • By try harder 18th Jun 17, 11:18 AM
    • 474 Posts
    • 1,536 Thanks
    try harder
    It all sounds very exciting ETE. Looking forward to hearing more.
    • smallholdingsister
    • By smallholdingsister 18th Jun 17, 11:40 AM
    • 3,403 Posts
    • 26,507 Thanks
    smallholdingsister
    Silly question alert. How do you clean a self filling trough?
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