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  • FIRST POST
    • try harder
    • By try harder 27th Mar 16, 4:39 PM
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    try harder
    170000 in 10 years
    • #1
    • 27th Mar 16, 4:39 PM
    170000 in 10 years 27th Mar 16 at 4:39 PM
    hi first post on mortgage free wannabe site -i have a 170000 mortgage on a house valued at around 230000 we have an interest only mortgage on 155000 and repayments on the other 15000 paying 676 a month total mortgage we are paying 3.88%variable rate.We received a small inheritance that we used to pay a lump sum off of the mortgage we have no limit on what we can overpay which is really good.We are both in our 50s and i am afraid i have never ever been any good with money we have spent every penny that we had spare on cars holiday etc but mostly on our children and now its our children and grandchildren i could have bought 3 houses over the last 20 years with the money i have wasted .We have 10 years left to finish paying this mortgage and if i dont do something now i will end up with no home so i must start now to make changes.I have read through as many diaries as i can and bought folders and notebooks written out budgets etc and now want to work really hard to pay off the 170000 in 10 years i am hoping to do this by overpaying 10 a day equaling 3650 pounds in a year and around 1200 pounds a year is coming off of the balance in repayments after all the interest so total around 5000 a year off the mortgage then save the other 12000 in other ways i have opened 2 isas 2 regular savers and numerous bank accounts.I may not get anywhere near to that amount saved i have never ever saved before but i am very determined and i hope that with the help of everyone on here i can stay motivated i am definitely looking forward to trying
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    • try harder
    • By try harder 1st Jun 17, 7:47 AM
    • 430 Posts
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    try harder
    Thank you themadvix it certainly helped i definitely feel more positive about everything .Yes i will let you know how it goes starts today.
    • Busy Mee1
    • By Busy Mee1 1st Jun 17, 8:14 AM
    • 320 Posts
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    Busy Mee1
    Hi TH - it definitely looks as if you have got your MFW mojo back. I love the sound of your millionaire's challenge and will be watching and cheering you on.

    It amazes me that you can keep your shopping budget so low, I really struggle to keep mine to 65 per week, do you include everything in that, such as toiletries and cleaning products or is it just food ? Any tips would be greatly appreciated.

    The weather is lovely again here, so I hope you are making the most of it x
    • try harder
    • By try harder 1st Jun 17, 10:29 AM
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    try harder
    Hi Busy Mee1.Thank you ,i am glad that i am feeling positive again i feel so much better. The millionaire challenge is exciting i have banked the 800 but still have 4 items left to double up costing 165 in total so hoping to turn that into 330 ,once i sell something i can buy something else so today i need to get them back up to the top on gumtrex .
    I dont know that i can help you much ,i think the main reason i keep it down low is due to the fact i find reduced items ,for example yesterday i popped into the local shop to send a parcel this is what i found -4 nectarines for 40 pence -4 oranges for 90 pence-a bag of new potatoes 25 pence -4 baking potatoes 40 pence -a bag of rocket 50 pence and a mince and onion pie 45 pence -i think it all added up to 2.95 .I allow myself 6.57 a day .The day before i was in a different shop where i found 3 large packs of mince for 1 each ,last night we had spaghetti bolognese with 20 pence spaghetti from Aldix and 35 pence passata from Aldix total cost for 3 was 1.55 i put the other 2 packs in the freezer .I also picked up 3 packets of bread at 20 pence each and they are now in the freezer .Tonight we will have the baked potatoes ,salad all reduced from various shops and a tin of tuna which i think was 44 pence from Aldix and some grated cheese .
    The thing is that i have lots of time on my hands to shop around which i do enjoy and i know which shops reduce at what times and where to look in the shops ,do you have time in your lunch break to have a little look in any small local shops or maybe after work on your way home ?That does include everything ,we have another small shop near to us which sells toilet rolls for 69 pence for 4 and they are really thick rolls so i buy 2 of those a week .I tend to buy Ecovex ,i live beside Waitrosx and i wait until they come on offer i always keep a couple of empty bottles then i pour half a bottle into each and top up with water and shake ,by the way i do the same with milk ,whole milk half milk ,half water ,but i do have plenty of time to do all these things and i treat it like a job /game therefore keeping it fun
    Its beautiful here again today ,we have been so lucky havent we ?I shall go out later for a nice walk .I hope that you are having a good day too.
    • Busy Mee1
    • By Busy Mee1 1st Jun 17, 12:30 PM
    • 320 Posts
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    Busy Mee1
    Wow - you really have got this shopping lark down to a fine art. I have sort of trained myself to shop once a week, because I dont't really have time during the week and also to try and keeps costs down ( If I pop in for a loaf it can end up costing about 20 !). I can see that I am missing out on a lot of bargains though....I might try and make a trip to the bigger supermarkets in the late evening to have a look for bargains. I also try and plan food around the super 6 at Ald! and check out the weekend deals at LIdl ( I bought 6 packets of their deluxe sausages at 99p a pack last weekend for the BBQ) This weekend is luxury muesli and 2kg pots of yogurt I think. I also do things like splitting a large loaf into 3 before freezing ( cheaper than buying small loaves). I think I could do better if I shopped on my own, but I usually can't shake Mr Mee off as he likes supermarket shopping
    • try harder
    • By try harder 3rd Jun 17, 9:16 AM
    • 430 Posts
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    try harder
    HI Busy Mee1 .I saw a list somewhere that had all the large supermarkets on it and the times that they reduce items each day if i can find it again i will put it on here but late evenings area good time to try ,our local waitrose reduces some things between 3 and 4 and again about half an hour before closing .I buy the economy plain large yogurts for 45 p from Asdx and add my own fruit cheaper and healthier as no sugar either .My husband is quite good and prefers to stay in the car if allowed which hes not and sticks to the budget as long as he has some biscuits hes ok .
    Hope you have a good weekend.
    • try harder
    • By try harder 3rd Jun 17, 9:40 AM
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    try harder
    Week 23 day one .All going well at the moment and the envelope Budgeting system is working well so far although it is still early days .One ebay sale and three very small amounts of interest means my make 10 a day is on track sadly no sales on the millionaire challenge ,my four items are still sitting here waiting to be sold and i must get them back up to the top of the page this weekend .
    It has been raining here but the birds are all singing so i am hopeful that the sun will come out soon and i am glad it rained during the night as we have planted more seeds ,carrots ,beetroot etc ,our new potatoes plants are looking really good and just waiting for the flowers to appear now ,i am hoping to pickup a small non glass greenhouse secondhand as i just love growing my own tomatoes .
    • try harder
    • By try harder 10th Jun 17, 7:49 AM
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    try harder
    Week 24 day one. Another week has just flown by i really must try harder to post every day .The envelope system has not worked very well mainly due to the fact that i keep forgetting to take the money out with me every day so i have given up and will go back to my usual method of paying by card,keeping the receipts and transferring to my book every evening .I did not make my 10 a day this week but sold one item on ebax and made some tiny bits of interest .Still no sales for my make a million challenge i will have to lower the prices soon ,i might not double up but should still make a profit at least enough to buy something fresh .
    Savings appear to be on target and i am hopeful that my husband will have enough overtime this month to take us from 12728 to 13000 ,we are on target for 1000 savings this month but have accountants to pay which will take a large chunk so 13000 looks achievable ,that will leave 6 months till the end of the year so the target will be to add another 6000 making 19000 saved by the end of the year ,what an amazing feeling that would be .
    Food spend still on track we didnt spend any money yesterday we used what was in the fridges and freezer so very pleased with that .Right well now off to look around the shops for bargains i hope everyone will have a good weekend
    • Busy Mee1
    • By Busy Mee1 10th Jun 17, 8:00 AM
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    Busy Mee1
    Good morning TH, I was just thinking about you and wondering how you are getting on. It sounds as if you are still making great progress. I wouldn't worry if the envelope system didn't work for you, I think everyone finds their own system to suit them.

    You really are doing well with the savings and you will feel great once you get back over the 13k mark again.

    Have a lovely weekend : )
    • try harder
    • By try harder 10th Jun 17, 12:46 PM
    • 430 Posts
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    try harder
    Hi Busy Mee1 and thank you as always .Yes it will feel good to get back up to the 13000 mark again its just so frustrating trying to get above that mark and every month there seems to be something that needs to be paid that i havent accounted for .
    Thank you i hope that you will have a lovely ,peaceful weekend too and with a bit of luck and some sun you will be able to sit outside and enjoy your new garden furniture ,it is really hot here today ,i am looking forward to the day that i can buy some new furniture ,at the moment my garden is full of swings ,slides .bikes ,vegetables and lots and lots of plants so not much room for anything else .
    • themadvix
    • By themadvix 12th Jun 17, 8:29 AM
    • 819 Posts
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    themadvix
    You'll get over the 13k mark, TH, it might just take longer than planned. I empathise with the frustration though!

    I imagine that being able to double your money on each thing on the millionaire's challenge is going to become increasingly difficult.
    OPs 2017 = 2603/10000
    S&S ISA = 300/600
    OPs made 2016 = 6142.12
    Starting balance 2012: 132000; balance June 2017: 99,974
    MFW2017 no. 38
    • try harder
    • By try harder 12th Jun 17, 10:02 AM
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    try harder
    Thank you themadvix it seems to the magic number at the minute .
    Yes it is a problem but i am hoping that the occasional sales where i more than double my profit will make up for the shortfalls.
    Hope all is well with you ,i am going to try and catch up with diaries today .
    • themadvix
    • By themadvix 12th Jun 17, 10:10 AM
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    themadvix
    Sorry TH, just reread what I wrote and I didn't mean to sound negative about the millionaire's challenge - it will certainly be a challenge! (And I missed the fact that you could always diversify the number of items you're selling!).
    OPs 2017 = 2603/10000
    S&S ISA = 300/600
    OPs made 2016 = 6142.12
    Starting balance 2012: 132000; balance June 2017: 99,974
    MFW2017 no. 38
    • try harder
    • By try harder 12th Jun 17, 10:40 AM
    • 430 Posts
    • 1,315 Thanks
    try harder
    What a beautiful weekend the sun shone constantly and i managed lots of walks by the sea and by the river i am hoping it will have some impression on my fitness level which is not very good as i am inclined to be very lazy so the sun shine definitely helps to motivate me ,its not looking so good today but its still warm so thats good.
    WEEK 24 day 3 .I have already passed my target this week of making 70 with several sales on ebax totalling over 100.Food budget on target and yesterday i managed to pick up ten packs of ten lovely baked rolls for 14 pence a pack they are all now in the freezer also several ready prepared packs of spinach and other green and red lettuces ,we didnt need rocket as we are now picking our own from the garden .I am also planting up lots of microgreens but running out of ideas for pots and containers ,i think i am getting slightly carried away but they are looking very good so far .
    Savings went in for the week 270 so on target .
    That only leaves the Make a Million challenge and sadly no sales still i need to have a good think this week about the four items i have bought to sell and think what i can do to advertise them better ,i have an idea on one of the items and think i know who i can sell it to .Note to myself -make sure you take it in to the shop THIS week ,this item was 100 so looking for 200 ,i have seen a few more things that i would like to buy so 200 would be brilliant.
    • Busy Mee1
    • By Busy Mee1 13th Jun 17, 6:25 AM
    • 320 Posts
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    Busy Mee1
    Wow you are having a good week and sound so positive. The eb@y sales sound amazing.

    I wish I had a bit more time to grow my own veg - I usually grow tomatoes in a pot and fresh herbs, but I would love to grow other things too. I will put it on the list of things to do when I retire...
    • themadvix
    • By themadvix 14th Jun 17, 1:00 PM
    • 819 Posts
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    themadvix
    BusyMee - fruit is much easier to grow than veg (IMO), as it's usually a perennial plant - strawberries from the garden taste so much better than supermarket ones. They're very low maintenance, I'm sure you could manage some! I have a redcurrant, rhubarb and strawberry plants... should think that total care time is 2 hours per year (pruning the strawbs and redcurrant back) - I'm not including picking, as that's far too much fun!
    OPs 2017 = 2603/10000
    S&S ISA = 300/600
    OPs made 2016 = 6142.12
    Starting balance 2012: 132000; balance June 2017: 99,974
    MFW2017 no. 38
    • try harder
    • By try harder 15th Jun 17, 8:08 AM
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    try harder
    Yes thats very true themadvix and raspberries are very easy to grow too and are also delicious .
    WEEK 24 day 6 and todays total savings 12,605.81 so i am hoping to reach the 13000 mark by the end of the month ,i will feel so happy once i pass that stumbling block i just cant seem to get past it .
    Food budget all on course and today i want to clean out my fridges and freezer and try to use up what i already have i so desperately want to get past that 13000 mark.
    The save 10 a day is not going very well this week but i have today and tomorrow to try and make up the shortfall so i need to list some more items today and tomorrow.
    Make a million challenge -Still no sales i need to take one item to a shop where i may be able to sell it but it is just getting there ,it is a bit out of the way and time consuming but must be done as the 200 could buy several things that have the potential for profit.
    Its another beautiful day here today and the garden needs watering desperately ,all my vegetables are coming along really well and i will soon be picking my new potatoes .
    • try harder
    • By try harder 15th Jun 17, 8:15 AM
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    try harder
    Morning Busy Mee1 ,i hope you are having a good week .Thank you ,i do feel a lot more positive i think the weather helps a lot too it has been beautiful here this week and revitalises me .I had a good week last week selling but so far not so good this week but you never know with ebax it only takes one good sale i just have to make sure that i have plenty of items listed therefore giving me a better chance .Have a good day ,look forward to your update.
    • Busy Mee1
    • By Busy Mee1 24th Jun 17, 7:44 AM
    • 320 Posts
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    Busy Mee1
    Hi Try Harder you have gone quiet. I hope you are OK ?
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