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  • FIRST POST
    • try harder
    • By try harder 27th Mar 16, 4:39 PM
    • 503Posts
    • 1,618Thanks
    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
Page 16
    • themadvix
    • By themadvix 11th Aug 17, 5:09 PM
    • 1,117 Posts
    • 6,413 Thanks
    themadvix
    Hey TH, it's been a while - hope everything's okay?
    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
    • Kittenkirst
    • By Kittenkirst 11th Aug 17, 10:01 PM
    • 1,605 Posts
    • 8,354 Thanks
    Kittenkirst
    Hoping your doing well TH and sending lots of positive vibes your way x
    2017 MFW #20 - OP £2151.52: £2150 100%
    Last 3 months- Sep £206.32 Oct: £179.60 Nov: £12.58

    Emergency fund £3945/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Busy Mee1
    • By Busy Mee1 13th Aug 17, 7:47 AM
    • 419 Posts
    • 1,601 Thanks
    Busy Mee1
    Also from me too xx
    • try harder
    • By try harder 1st Sep 17, 7:20 AM
    • 503 Posts
    • 1,618 Thanks
    try harder
    I cannot believe that it has been about six weeks since i last posted i have no excuses really but i have missed you all .Money has gone adrift over the last month or so ,we had one big birthday and i started my new little venture that took over a thousand pounds to set up but i am hoping that it will make a positive difference to my monthly savings .
    Today the savings stand at £14,277.I have set myself a challenge for September to save £1500 instead of the usual £1000 and hoping for the same in October ,November and December hoping for £20,000 by the end of the year ,i also have another big birthday this month and several smaller events but i have calculated this into the numbers £20000 would be amazing so i need to work hard at my new business to achieve it .
    Thank you Busy Mee1,Kittenkirst and themadvix for always being here to support me i am sorry for being away for so long i will catch up this weekend with everyone.
    • Busy Mee1
    • By Busy Mee1 1st Sep 17, 7:43 AM
    • 419 Posts
    • 1,601 Thanks
    Busy Mee1
    Lovely to have you back Try Harder. Glad it was some good things keeping you busy
    • try harder
    • By try harder 1st Sep 17, 8:02 AM
    • 503 Posts
    • 1,618 Thanks
    try harder
    Ah thank you Busy Mee1 ,i thought i would hear from you ,i have been reading your diary over the weeks you are an inspiration to me as always.
    • themadvix
    • By themadvix 2nd Sep 17, 2:15 PM
    • 1,117 Posts
    • 6,413 Thanks
    themadvix
    Glad to see you back TH and that you've only been doing good things in your time away! Hope the venture works out, I'm intrigued!
    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 11th Sep 17, 7:32 AM
    • 503 Posts
    • 1,618 Thanks
    try harder
    Ok so savings today stand at £14875.42 so £124.58 away from the £15000 mark and £624.58 away from my target this month of £15500 ,sorry for all the numbers but it helps me to see them written down and im hoping will keep me focused there are twenty days left this month so plenty of time £1000 saved this month would be good and £1500 would be even better ,that thought of £20000 by the end of the year is really keeping me motivated .
    The make £10 a day is going really well for me at the minute and yesterday i made two sales on ebax so that was especially good ,if i can sell one thing a day i will be very happy and i have so much to sell its definitely possible its just the time consuming listing that is the problem but you dont gain anything without working for it so i must keep up the momentum .
    Food budget going reasonably well but i must work harder at it and make more effort to meal plan .
    Thats about it i think oh Millionaire challenge not going so well ,not one more item sold yet ,mind you they are all big items so they do take time but still have around £800 in that pot which is in my ISA making money fingers crossed so i am hoping with one more sale that pot will be around £1000 by the end of the year ,i must work harder on that too but my new little venture has taken over but it is all set up now and i have paid out all the costs so should start to see some results soon so lots of different things going on here and i have to say im loving it .

    Thank you themadvix ,its good to be back ,i will pop in to read your news today but first i have to find ,wrap and print my two parcels so i can send them first thing this morning just hope i can find them
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 11th Sep 17, 8:43 AM
    • 203 Posts
    • 906 Thanks
    DeterminedSingleMummy
    Hope you found your parcels to send!!! Don't be sorry about all the numbers. It helps you keep in track and it helps us to see how great your doing and motivates me more!! Keeping the numbers refreshed in your mind is easier if it's written down in your diary

    What I used to do with ebae was just to spend 1 hour (sometimes only 30 mins) on setting up drafts and taking photos of the items. Then I usually write them up when I'm waiting for the school run or have a spare 5 or 10 minutes. That way it doesn't feel like it's taking up too much time if that makes sense... I find once I've got the photos on my phone I can list them and write them up where ever I am.

    Hope you have a nice day x
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • Busy Mee1
    • By Busy Mee1 17th Sep 17, 8:29 AM
    • 419 Posts
    • 1,601 Thanks
    Busy Mee1
    Hi Try Harder sorry I missed you last week. It is lovely lovely to see you back posting again.
    You are doing brilliantly well and I am absolutely certain that you will hit £15k this month and £20k by the end of the year. I imagine it makes you feel so more secure in terms of your future, I know I do.
    You are so good at eb@ying, this is one thing that I haven't been doing lately because I just haven't the time to do all the admin and packing that goes with it. I am also really pleased to hear about your new venture, it sounds very intriguing and I hope it goes well for you. Keep us updated
    • Skinnylatte
    • By Skinnylatte 17th Sep 17, 5:04 PM
    • 1,099 Posts
    • 4,586 Thanks
    Skinnylatte
    I've subscribed to your diary, interesting to learn how you get with your little ventures
    , I have a couple too, which I hope will mean early retirement!!
    Mortgage @ 12/04/2015 £136121 £120,525 11.45% DI £9.13 £6.48
    Mortgage free day 06/03/33 07/12/2032
    Emergency/Offset Account £
    3365/£6000
    CC Balance £6100
    £3690 Paid 39.5%
    1st LBM 02/06/2013 £21595 Debt Free Day 27/03/2015


    • themadvix
    • By themadvix 19th Sep 17, 10:35 AM
    • 1,117 Posts
    • 6,413 Thanks
    themadvix
    You're doing so well TH - just think about the blip you had where you couldn't get past 13k - that's well in the rearview mirror now!

    I was up your way last weekend - I thought of you as we were driving along the coast
    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 27th Sep 17, 11:04 AM
    • 503 Posts
    • 1,618 Thanks
    try harder
    Nearly at the end of another month and i am hoping my savings will be between £15000 and £15500 i will add up on the last day of the month but the thought of having £20000 saved by the end of they year is keeping me focused although i have a very expensive weekend coming up but i have allocated money to that .
    All sidelines seem to be running reasonably well ,the £10 a day is on target the only thing that is not keeping up is the Millionaire Challenge but i think that is because i have been concentrating on my new venture i really must try harder with everything in October if i want to reach my £1500 a month savings but now that i have a few plates spinning i have more chance of it happening .
    Thank you for your tips DeterminedSingle Mummy i will try the idea of taking photos and then listing them every time i get a spare ten minutes thats a good idea i do find listing very tedious.I did find my items by the way ,i try to organise things as well as i can but things do seem to move .
    Thank you Busy Mee1 as always for your positivity ,you are an inspiration to me and if i can do one quarter as well as you i will be very happy .For some reason i have been very bad at posting on here lately but i am hoping that now that i seem to have everything more or less up and running i can spend more time here .
    Thank you Skinnylatte i will have a read of your diary too and looking forward to hearing about your little ventures .
    And thank you too themadvix i am so amazed that i have reached the £15000 mark ,whatever has happened to me and who is this new person who has never hung on to money for five minutes before .I do hope you had a lovely day and that was so nice that you thought of me when you were there i hope alls going well for you i have been so lax on catching up on all the diaries i will definitely do it next week .
    • Busy Mee1
    • By Busy Mee1 28th Sep 17, 7:08 AM
    • 419 Posts
    • 1,601 Thanks
    Busy Mee1
    Hi Try Harder, I thought you had disappeared again - so pleased to see your post. Glad everything is going so well, you are doing brilliantly.
    Looking forward to hearing about your new venture and seeing you hit the magic £20k in December x
    • try harder
    • By try harder 30th Sep 17, 8:50 AM
    • 503 Posts
    • 1,618 Thanks
    try harder
    The last day of the month is here again ,it has been a month of ups and downs moneywise ,my £10 a day target has been met making around £350 this month on ebax selling ,my new little venture has not made anything much yet but i will be working harder on that in October ,the rest of our savings have mostly come from my husbands overtime at work as per usual .The food budget has not been as good this month as i decided to up the budget so that we could eat more organically again so unfortunately this has pushed the weekly shopping bill up but while my husband has the work i think i will keep to this food budget and i can always cut back again if necessary .
    This months savings were £1500 ,i cannot believe how well we have done ,mostly down to my husband again but i am so very pleased i will work really hard now for the next three months to save £1500 x 3 making £20000 by the end of the year i dont know how likely this is but i will be trying my hardest to make it happen .

    Morning Busy Mee1 i will try to post more often in October i promise .
    • try harder
    • By try harder 30th Sep 17, 9:20 AM
    • 503 Posts
    • 1,618 Thanks
    try harder
    I have just noticed my ebax totals for the month and i actually sold £505 so much better than i though ,that was before fees etc though but overall a very good month .
    • Busy Mee1
    • By Busy Mee1 1st Oct 17, 7:26 AM
    • 419 Posts
    • 1,601 Thanks
    Busy Mee1
    Gosh Try Harder you are doing brilliantly well and your eb@y totals are amazing. It is great isn't it, how a bit of focus and a change in attitude towards spending can really turn our financial futures around. Have you thought what your next targets after £20k in December are going to be ?
    • EatingTheElephant
    • By EatingTheElephant 1st Oct 17, 8:22 AM
    • 1,148 Posts
    • 6,159 Thanks
    EatingTheElephant
    Well done tryharder
    • themadvix
    • By themadvix 1st Oct 17, 9:47 AM
    • 1,117 Posts
    • 6,413 Thanks
    themadvix
    Great progress TH - £1500 is a huge amount to save in a month!

    I know what you mean about the organic vs cost issue - it's so hard to get the balance right!
    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
    • jodles16
    • By jodles16 1st Oct 17, 12:32 PM
    • 1,315 Posts
    • 3,960 Thanks
    jodles16
    Hi tryharder, you have done amazingly well since I lost popped in, keep up the amazing work and remember to be kind to yourself!

    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-

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