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  • FIRST POST
    • Busy Mee1
    • By Busy Mee1 1st Apr 16, 10:34 AM
    • 388Posts
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    Busy Mee1
    Getting a Grip and Saving towards the mortgage
    • #1
    • 1st Apr 16, 10:34 AM
    Getting a Grip and Saving towards the mortgage 1st Apr 16 at 10:34 AM
    It is nearly a year since I last posted - due to a combination of work and losing my log in details However I am back with my sleeves rolled up bcause the new Personal Savings Allowance means I can start getting my hands on some of the lovely bank accounts that are now on offer without having to pay the taxman.
    So a potted history of me and mine - we are me, OH, DS (25) and DD (23) who since I last wrote has moved in with her boyfriend but I am still financially supporting as she is in her last year at university. Son is financially independent, still living at home but looking to buy his own place shortly.
    We have a large mortgage because we built out own house 7 years ago. We do however have a great mortgage deal - a lifetime tracker of 0.69% so instead of overpaying the mortgage I put any spare cash into higher paying ISAs and have until now been looking longingly at some of the higher rate current accounts - we are both higher rate tax payers so have been pointless using anything but ISAs until now.
    The numbers:
    Mortgage debt: Jan 15 £288778.23. March15 £286,217.61. Jan 16 £277958.44
    March 16 £275,920.98

    Savings: Jan 15 £22080.81 March 15 £25,790.53 Jan 16 £34,361.10 March 16 £36966.91

    So as you can see although I haven't been posting I have kept up the saving, averaging £1000 per month.
    I also set myself a goal of losing a stone and I have lost a stone and a half
    I think setting goals in writing on here really worked for me and so I am back
    Last edited by Busy Mee1; 01-04-2016 at 11:31 AM.
Page 14
    • try harder
    • By try harder 28th Apr 17, 8:08 AM
    • 473 Posts
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    try harder
    I know you can do it and will do it. £50000 is such an amazing amount to have saved in such a short time .
    • Busy Mee1
    • By Busy Mee1 8th May 17, 8:17 AM
    • 388 Posts
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    Busy Mee1
    I'm Back
    I am back from a fab holiday, feeling slightly chilly and jet lagged this morning. My body clock is out of sync so I have been up since silly o'clock doing washing and a fair amount of money shuffling It feels strange to be doing this so late in the month.

    The holiday was great and we got to see another corner of the world we haven't been to. I feel very happy that we are able to balance saving for our retirement, and finding enough money to travel whilst we are still fit and able; even if this does mean being fairly frugal on a day to day basis. I have definitely decided that I would rather spend money on holidays than "stuff" .

    Thanks Madvix and TH as ever, for your encouragement and hello Tinkerbell. It is lovely to have had visitors whilst I have been away.

    Anyway, by way of an update on Hardcore May, I have had a bit of a setback in that the electricity tripped out whilst were away and the freezer defrosted .
    I spent last night throwing the majority of the contents in the bin as I just didn't know how long it had been off for and I darent risk it. I have managed to salvage a few things that should be OK, like bread and cakes and we will be eating these up over the next couple of days.

    The silver lining I guess is that I can give the freezer a proper clean and start from scratch building up stores again, luckily it wasn't that full.

    I am however determined to plough ahead with Hardcore May on the basis that even if I don't make the magic £50k target, I will still be further forward in my long term savings plan. Given that there are only 3 weeks left in May this shouldn't be too bad.

    I have done the number crunching and allowed a little more for groceries than I had planned, given I have nothing in the freezer My plan also relies on some annual interest on my ISA and the £200 switching bonus from N@tionwide being paid.

    I will keep you updated and try not to winge
    Last edited by Busy Mee1; 10-05-2017 at 7:34 AM.
    • Busy Mee1
    • By Busy Mee1 8th May 17, 2:20 PM
    • 388 Posts
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    Busy Mee1
    All plans today were scuppered as my car wouldn't start. I think the battery is flat.

    First the freezer and now the car, and I am now waiting for the third thing to happen. I am far too superstitious for a reasonably intelligent woman

    At least today will be a NSD
    • Busy Mee1
    • By Busy Mee1 12th May 17, 8:10 AM
    • 388 Posts
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    Busy Mee1
    It's Friday
    It's Friday and I have managed to make it without too many mishaps. I did knock a jar of peri peri salt out of the cupboard and smashed it, so I am counting this as my third bit of bad luck !

    Mr Mee managed to get my car going again. I am not sure what drained the battery because nothing was left on, but the car is due for servicing, so I will mention it then.

    I was dreading going back to work but it really hasn't been bad at all. We are quite quiet at the moment, but this is just the lull before the storm, as it will all kick off again in June. I am going to enjoy it whist I can

    I got notified of my performance bonus for this year and I was awarded the top amount. I am really pleased that my hard work has been recognised and even happier that I will get a chunk of extra money around August time

    Hardcore May has commenced in earnest. I did a very frugal grocery shop on Tuesday. I had to go to Sainsbreeze because of the car trouble and was ultra,ultra careful, as we all know how badly a trip to Sainsbreeze can turn out. I managed to get us a good haul of reduced stuff and spent £41.92, but I used £10 of nectar points so it only cost £31.92.

    Using my nectar points reminded me that I have various other rewards and points squirrelled away that I can use to ease Hardcore May and I used my Boots points to pay for some stuff I needed from the chemist. So no other "real money" spent this week.

    I have ruthlessly shuffled as much money as I can into savings,and including £453.00 annual interest from my fixed rate ISA, the total savings currently stands at £49,775.32. I need to find another £224.68 to hit the magic £50k figure.....this feels so near and yet so far !

    I am still waiting for the £200 switching bonus from N@tionwide - this will more or less guarantee we will get over the line and I am obsessively checking my accounts everyday to see if has been paid.

    I have left us with £100 a week (£300) to pay for everything else this month , groceries, parking, petrol and any other incidentals, so if I am really careful I could dig a little bit more out from here. I also have the S@antander rewards and interest to come, but this will only be about £10.

    The reality is that I really need N@tionwide switch bonus to hit the magic £50k figure - I think I will ring them today to see when it is likely to be paid.

    Have a great weekend
    • try harder
    • By try harder 12th May 17, 1:02 PM
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    try harder
    Oh so close ,just brilliant ,i am keeping my fingers crossed for you that it will come in soon but what ever happens you will soon be there.I am so pleased for you ,you have worked so hard on all fronts .
    Glad you had a lovely holiday i am looking forward to mine i feel we both need it my husband is very tired poor man ,he works such long hours and its a very physical job .So pleased too to hear about your bonus and the fact that they appreciate you at work that really does make all the difference after all you are working so many hours of your life it is so much better if you feel good about it all .
    You too ,have a good weekend ,i expect you will find plenty to do at home .Did you ever get your garden furniture ?I do hope the sun will come back ,it was beautiful yesterday sitting in the garden but not so nice today .
    • Busy Mee1
    • By Busy Mee1 14th May 17, 11:48 AM
    • 388 Posts
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    Busy Mee1
    Sunday
    So after a frugal few days in which I only spent £2.00 on a Birthday card for our baby niece and resisted going to the pub for our tea on Friday night ( I am not sure Mr Mee is as committed to Hardcore May as I am ), I have slightly blown the budget today

    I have spent £93.93 on groceries but to be honest I needed to because the cupboards, fridge and freezer were bare. I don't think I have had so little food in the house for years. I also drew out £40 cash (£20 each). This leaves us with the grand total of £167.07 for the rest of the month

    I did do another Tilly Tidy last week of £8.08 so our savings total is now standing at £49,783.40, so £216.60 still to find before the end of May to hit £50 k. There is still no sign of the N@tionwide switching bonus yet, but the website says it should be paid before the 20th of the month following the switch. I am keeping my fingers crossed.

    I have also realised that my 20p jar is almost full and it normally holds around £50. I needed to get this bagged up, counted and paid in. There is also £40 tracking in TCB, I am hoping this will become payable before the end of the month. All these little bits and pieces of MSE shenanigans are really making a difference this month

    I will be back to the Sunday cookathon this afternoon - I am making Tuscan Lemon Chicken (SW) and Lemon drizzle cake to use up some lemons. I am also going to try and replicate A beetroot and orange salad we had on holiday for the lunch boxes tomorrow.
    • Busy Mee1
    • By Busy Mee1 14th May 17, 11:50 AM
    • 388 Posts
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    Busy Mee1
    Oh so close ,just brilliant ,i am keeping my fingers crossed for you that it will come in soon but what ever happens you will soon be there.I am so pleased for you ,you have worked so hard on all fronts .
    Glad you had a lovely holiday i am looking forward to mine i feel we both need it my husband is very tired poor man ,he works such long hours and its a very physical job .So pleased too to hear about your bonus and the fact that they appreciate you at work that really does make all the difference after all you are working so many hours of your life it is so much better if you feel good about it all .
    You too ,have a good weekend ,i expect you will find plenty to do at home .Did you ever get your garden furniture ?I do hope the sun will come back ,it was beautiful yesterday sitting in the garden but not so nice today .
    Originally posted by try harder
    Hi TH, no we haven't got the garden furniture and I think we will be waiting for next month, because I have thrown all the spare money at our £50k challenge.

    I hope you and your OH have a fantastic holiday it sounds as if you are really ready for it x
    • themadvix
    • By themadvix 17th May 17, 4:52 PM
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    • 5,919 Thanks
    themadvix
    Glad you had a good holiday BusyMee! I feel your pain about coming back and things going wrong - you have my sympathy! (see my diary - soon to be updated - for my list of woes!)

    It sounds like you're doing well and the extra bits of money are helping - I know that feeling too Great news about your bonus, you definitely deserve that from what you've said about the stress recently.
    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
    • Busy Mee1
    • By Busy Mee1 22nd May 17, 7:54 AM
    • 388 Posts
    • 1,464 Thanks
    Busy Mee1
    Monday
    It is a beautiful sunny Monday morning and there is no usual trip to London for me A couple of my normal Monday meetings down there got cancelled and I can just teleconference the other one. I am therefore taking the opportunity to update my diary ( a bit late) after a hectic weekend.

    We have had a lovely weekend with some old friends staying and the kids dropping round to spend time with them. So a lovely house full

    In terms of financial stuff, Hardcore May continues. I managed to hold on to my £20 cash spends until Thursday but then the window cleaner arrived and needed paying

    I went supermarket shopping on Friday in my lunch break, which meant I was without Mr Mee so was able to shop a bit more carefully and only spent £50.49. He shops with a bit of a siege mentality and is slightly scared that we will run out of anything, consequently we end up with gluts of particular items.....currently we have four bottles of flash under the sink !

    The best financial news was that DD unexpectedly paid me £150 towards her US flight, so I put that towards the savings and Shhh I darent say this too loudly because there are still 10 days until the end of the month, but I think I am going to hit the magic £50k ! I don't want to jump the gun though....anything could happen in the next 10 days !

    The worse financial news is I think I have made an epic fail on the N@tionwide switching bonus...they are suggesting that the account switched didn't meet the criteria for the bonus. I think one on the direct debits didn't get paid out on the original account because they switched really quickly and therefore there wasn't two active DDs. I am still in correspondence with them but if the worse comes to the worse I think I can retrieve the situation my closing the N@tionwide account and switching another one that will satisfy the T&Cs for N@tionwide. I might also be able to get another switching bonus by switching the current N@tionwide one to FD as both DDs have now paid out so with satisfy the T&Cs for FD.

    In other financial news I have set up a new regular saver with M&S with interest that will pay out in the 2018/19 tax year and I have also downgraded my S@antander to a 123lite account as the interest of a paltry 98p in not worth the £5 charge.

    Have a great week everyone
    • Busy Mee1
    • By Busy Mee1 25th May 17, 8:15 AM
    • 388 Posts
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    Busy Mee1
    Confession
    I have a confession to make ...I ordered new garden furniture. I have been threatening to buy new garden furniture for the last couple of years but talked myself out of it. I was determined that we would buy some for this summer but then Hardcore May kicked in.

    However I saw the weather forcast on Sunday and took the plunge (using my credit card) . It arrived on Tuesday and I love it and have been sat outside in the evenings on my lovely outdoor sofa enjoying the weather

    Does this mean I will get kicked out of the MFW gang ?
    • themadvix
    • By themadvix 25th May 17, 5:25 PM
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    themadvix
    Definitely not! Life is for living too and I know I'm guilty of putting things off which would probably improve quality of life because of financial goals and it's not good! Enjoy your furniture to the full - we're all here because we choose to pay money off, not because we have to, it's all about choices!
    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 25th May 17, 6:13 PM
    • 473 Posts
    • 1,533 Thanks
    try harder
    I am so pleased that you have your much wanted garden furniture ,you work so very ,very hard and you will get so much enjoyment out of it im sure .I love to sit outside in the evenings and eat my dinner i especially like it when my grandchildren come as if they drop food it doesnt make a mess in the house although i have to admit my dog is quite good at clearing up any mess they make anyway .
    • EatingTheElephant
    • By EatingTheElephant 25th May 17, 8:02 PM
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    EatingTheElephant
    I agree, definitely not! Enjoy the furniture BusyMee.
    • Kittenkirst
    • By Kittenkirst 26th May 17, 12:32 AM
    • 1,592 Posts
    • 8,224 Thanks
    Kittenkirst
    Oooooh an outdoor sofa sounds just marvelous!
    2017 MFW #20 - OP £1958.94/ £2150 91%
    Last 3 months- Jul £172.36 Aug: £212.52 Sep £206.32

    Emergency fund £3880/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • Busy Mee1
    • By Busy Mee1 27th May 17, 7:40 AM
    • 388 Posts
    • 1,464 Thanks
    Busy Mee1
    Sunshine Saturday
    Phew thanks guys for letting me still be in the MFW gang. I am really glad I bought the furniture and have made good use of it in this glorious weather - in fact I am going to further invest another module of it, to make it even bigger Just waiting for it to come back in stock.

    In financial news I have received a mysterious credit into my account for £224.38 from a credit card I cleared a couple of years ago. I am not sure what this, I have had no letter and can't check on line any more. Hmmmm I have not put it into my savings, in case they want it back but I have moved it into my emergency/fluid account for now. If I don't hear anything I will assume I overpaid the balance and put it towards the garden furniture

    I (or rather me disguised as Mr Mee) am still in correspondence with NW over the switching bonus. Luckily I have now found letters from the DD recipients confirming the DDs were set up before the switch, so I am hoping that will do it . Thankfully I don't need the £200 to meet the £50k challenge this month

    In other news I was contacted by a recruitment agency about a job this week. It looks right up my street, but I probably wouldn't have considered it,had they not contacted me because it is quite a jump ( in salary). I meet all the criteria though and it the type of work I love, so I think I am going to apply on a nothing ventured, nothing gained basis.

    I hope the weather is going to hold this weekend. I am doing a charity team event with the gym today and then out for a few drinks and food afterwards. I have told them I am only on the substitute bench though, because I am an old lady Pretty sure I will get roped in though.

    DS has four of his uni friends arriving tomorrow and I have promised a BBQ tomorrow afternoon before they go out into town and breakfast on Monday morning for anyone who can face it

    I am popping to LIdl early this morning, as they have sausages on special offer this weekend at 99p. Perfect for the BBQ. Then gym session and then charity event....lets hope I survive.

    Have a fab weekend everyone
    • try harder
    • By try harder 27th May 17, 6:04 PM
    • 473 Posts
    • 1,533 Thanks
    try harder
    Sounds like a lovely weekend ahead and even better now that you have your lovely garden furniture to sit on and enjoy all this glorious sunshine ,it has been very ,very hot here today and it makes all the difference to the spirits .
    Have you met your £50,000 target Busy Mee1 ,did i miss it ?I know you have bought your garden furniture but just noticed that you mentioned that you dont need the £200 switch this month to meet your target ,I hope i havent missed it you must be so ,so close .
    Have a lovely weekend with your family .
    • EatingTheElephant
    • By EatingTheElephant 27th May 17, 6:28 PM
    • 1,124 Posts
    • 6,053 Thanks
    EatingTheElephant
    Wow, surprise money turning up and a great job opportunity/possibility, you are on a roll! Fantastic
    • Busy Mee1
    • By Busy Mee1 29th May 17, 8:49 AM
    • 388 Posts
    • 1,464 Thanks
    Busy Mee1
    May Update/Bank Holiday Monday
    I thought I might as well do my May update slightly early as nothing else will change financially over the next couple of days. Also I am quite excited to announce that not only have I met the £50k challenge but my savings now offset the mortgage to under £200k

    So the numbers look like this:

    May
    Into savings £2,610.72
    Total savings £50,129.06.
    Mortgage. £247,605.47
    Savings offset mortgage to £197,476.41.
    Savings:Mortgage. 20.25%.

    I am really pleased to have hit the £50k target early, Hardcore May really paid off but I am not sure I could sustain this every month and it was helped by some annual interest on my ISA and some other unexpected income.

    My next target is £60k into savings by end of December, another £10k in 7 months, so £1429 to be saved each month.

    In non financial news we have had such a lovely weekend, the weather has been glorious and we have spent it with some lovely people.

    The gym team event was really good fun, lots of laughs and as predicted I did get roped in but it wasn't too arduous. We went for food and drinks afterwards to a new bar, but someone had got a load of vouchers for free drinks and 25% off food so it didn't cost the earth. I love my gym, which is a small independently owned gym catering for all ages, and sizes. Everyone is very friendly and welcoming .....so much better than the big corporate gyms. I would definitely recommend checking out the smaller independent gyms, they tend to be cheaper too without tying you in to contracts.

    Last night we had the uni friends of DS staying here and we BBQ'd yesterday afternoon. We really enjoyed their company, lots of good humour and such decent young people, with a caring attitude. If they are representative of the next generation, society will be OK.

    In other news I am sooo fat ! I need to diet and lose at least 7lbs before July. I think I will start posting weight loss information on here, because sharing on here always focuses my mind. June now be known as Diet June
    • try harder
    • By try harder 29th May 17, 10:15 AM
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    try harder
    What an amazing month you have had ,i am so ,so pleased for you Amazing ..Today is a good day and what a massive amount you have saved this month too,really well done i know what a lot of hard work has gone into reaching your target .
    Funny we were just saying the same thing last night after reading about the young man who died trying to help two young girls in America and seeing his picture posted by his mother at his graduation i could not stop crying it reminded me so much of my own children and their friends ,there are so many wonderful young people i am so grateful to have five myself and their partners ,they are the greatest gift of all ,we should all feel very proud .
    • themadvix
    • By themadvix 30th May 17, 8:35 AM
    • 1,058 Posts
    • 5,919 Thanks
    themadvix
    Congratulations BusyMee! What an achievement, well done!

    Glad you had a lovely weekend too
    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
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