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  • FIRST POST
    • Busy Mee1
    • By Busy Mee1 1st Apr 16, 10:34 AM
    • 439Posts
    • 1,730Thanks
    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 19
    • michelle09
    • By michelle09 11th Nov 17, 11:17 AM
    • 460 Posts
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    michelle09
    £18k in one year is really impressive, well done!

    Does Mr Mee agree? Sometimes OH comments on how much we put against the mortgage and remind him that it is money we have to repay eventually, it's just cheaper to do it quickly.
    • Busy Mee1
    • By Busy Mee1 18th Nov 17, 8:23 AM
    • 439 Posts
    • 1,730 Thanks
    Busy Mee1
    Saturday
    It is well over a week since my last post, as work and life have sucked me back in again. One of the elderly parentals is in hospital again which has just added to the generally busy week.

    I have managed to come in ( nearly ) on budget this week £103.34 and I am hoping I can claw back the slight overspend in the last two weeks of the month.

    In MSE news we have had TCB of £60.33 drop into the account, and £47.45 cash back for using Applepay for the Santanderlite account.

    I am progressing all the house jobs.
    I now have sent a quote to the insurance company to replace the wardrobe door, they are coming to knock out the fireplace on Monday and our friend is coming to measure up for the garden gate tomorrow.

    I haven't been to the gym in a week and I need to motivate myself to get back to it ....it just feels too cold, too dark and too busy to go at the moment

    Anyway need to get a wriggle on...some work to do this morning and then cleaning and shopping. Our friend is coming to sort the garden gate out tomorrow and then we have our baby neice's birthday party tomorrow afternoon and I promised to bake !
    • EatingTheElephant
    • By EatingTheElephant 18th Nov 17, 8:30 AM
    • 1,162 Posts
    • 6,237 Thanks
    EatingTheElephant
    Good news about the job and fantastic figures.
    The fire will be wonderful, I love ours.
    • try harder
    • By try harder 18th Nov 17, 8:42 AM
    • 528 Posts
    • 1,676 Thanks
    try harder
    I had just been thinking about you funnily enough and there you were.Sounds like you have had some ups and downs the last couple of weeks but then i guess thats life but glad alls going well in the house and the budget so thats all good .Have a lovely weekend and dont work too hard
    • michelle09
    • By michelle09 18th Nov 17, 12:28 PM
    • 460 Posts
    • 1,824 Thanks
    michelle09
    Hope the parent is ok and that next week will be calmer. That is a lot of cashback though, well done!
    • Busy Mee1
    • By Busy Mee1 20th Nov 17, 6:59 AM
    • 439 Posts
    • 1,730 Thanks
    Busy Mee1
    Up Early
    Morning all I was up early this morning so I thought I would do a quick update post.

    As usual the weekend was busy. Our friend came to look at the garden gate yesterday and is coming back on Wednesday to put the posts in. We need to go and buy the actual gate ( I have seen one I like) and Mr Mee is ordering a digiloc from the T'internet. We thought a digiloc would be easier so the window cleaner can get round the back.

    I cheated a bit with the baking for our baby neice's party and made rocky road ( no baking required), but it went down very well. The party was good fun...lots of little ones and the party girl had a good time

    As I was up so early this morning I have been reading back on my diary since the beginning of the year and realised a few things. We only saved £10k in 2016 towards the mortgage, and we have managed to increase this to £18k this year. I am not sure quite how we have managed to dig out an extra £8k but we have

    I think this is actually due to a few factors; firstly I have had an extra £250/300 a month salary, I have created an extra £76 per month in regular passive income from cash back and interest and have also gained lots of irregular cash back and interest too. Setting realistic but stretching targets has really helped with the focus too (50k in June, £60k in December).
    We are now regularly and fairly comfortably saving £1500 a month. This is more than half of Mr Mee's take home salary, which means we will be able to comfortably live on his pension.

    We now have two years to go until his retirement and I hope to save another £20k per year in that period, which would mean that along with his pension lump sum we will have enough to pay off the interest only part of the mortgage. This would then just leave the repayment part to run for another 3 and half years afterwards.

    We could of course also consider downsizing and wiping the mortgage out that way, but I am not sure we are ready for that yet.

    This that is enough of my musings on a Monday morning, I need to get on with the day. We are having the fireplace knocked out today, ready for the new fire next week. I am expecting it to be a dusty job
    • Kittenkirst
    • By Kittenkirst 20th Nov 17, 4:52 PM
    • 1,641 Posts
    • 8,562 Thanks
    Kittenkirst
    Really fantastic and inspirational numbers there Busymee !

    I love reading your diary when I’m feeling a bit glum about overpaying as your diary really makes me smile and see that this is for the long haul!
    2017 MFW #20 - OP £2508.28/ £2150 117%. New target £2500 100%
    Last 3 months- Oct: £179.60 Nov: £160.33 Dec: £212.41

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    2016 OPs £255.50/£150
    • shangaijimmy
    • By shangaijimmy 21st Nov 17, 7:29 AM
    • 2,281 Posts
    • 10,613 Thanks
    shangaijimmy
    That was a great post and its always good to take stock and reflect on progression. It's a skill in in itself trying to look ahead a few years and predict what/where things could be! And i bet that 20k target finishes up nearer to 25k.
    MFW: Turning June 2036 into March 2023... 33//120 Payments Challenge, Diary Reduction £35,448.08
    Aug 2009: £163,051 // Current: £100,551.94 // Avg Daily Interest £4.52
    MFiT-T4 #8 - 56.74% of £41,000
    • themadvix
    • By themadvix 22nd Nov 17, 10:47 AM
    • 1,149 Posts
    • 6,710 Thanks
    themadvix
    The dust will be bad, I'm sure, but totally worth it for a fireplace in time for Christmas.

    Your savings are truly astounding BusyMee and just go to show what a difference can be made by really focusing on the finances, without missing out on life!
    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 22nd Nov 17, 11:04 AM
    • 528 Posts
    • 1,676 Thanks
    try harder
    What a brilliant year you have had Busy Mee1 , you truly are an inspiration ,you have kept so focused on the goal and as themadvix said you have enjoyed life as you have gone along ,a great mixture and balance .Looking forward to the next two years ,i know you will do it with flying colours.
    • Busy Mee1
    • By Busy Mee1 28th Nov 17, 8:07 AM
    • 439 Posts
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    Busy Mee1
    Thanks for popping in all.

    It is so nice that people read my ramblings, I have been toying with stopping the diary because it always feels a bit dull to me. However keeping a diary has been the best thing I have ever done financially, as it had kept me focused on my goals - so I will try to keep rambling on.

    Last week turned upside down when our most elderly step-parent was taken into hospital and is now very poorly. He is being treated but we are not sure whether given his age he will pull through and if he does he will need a lot of care. So we have been backwards and forwards to the hospital which is an hour and a half away and his home which is two hours away sorting things out. The main problem has been finding foster care for his pets, however a couple of charities have been really helpful - the Cinnimon Trust and a breed Welfare Charity and we have managed to find temporary homes for his cat and dog.

    This is an situation that comes to us all but has been made worse by the fact this parent lives in a very remote village. They retired to a rural idyll, which was lovely when they were fit and well but has because a nightmare when one died leaving the other very isolated and too old to move.

    A lesson for me there I think and something to think about for anyone thinking of retiring somewhere remote. It is fine when you are fit and well, but do make plans for when you are not.

    In and amongst all this, life goes on. Luckily work hasn't been too horrendously busy.
    We had the gate done last week, and of course it cost more than I planned. This was because I liked the most expensive gate and panelling rather than the bog standard stuff, so it cost £470 instead of £300.

    The fireplace fitting is delayed until next week and we will have to live with the hole in the wall for another week

    We have had a replacement wardrobe door authorised by the insurance company - I just need to get it ordered today. We will just have to cover the £250 excess.

    Nothing much else to update financially - I am busy servicing my new B accounts to ensure we get the £500 switching bonus. I must not c@ck that up

    I am feeling a bit low at the moment with all that has been going on, it has been very emotional and I am trying not to sink. I haven't been to the gym for a couple of weeks and I am going to try and go today as that always gives me a lift.
    • michelle09
    • By michelle09 28th Nov 17, 10:01 AM
    • 460 Posts
    • 1,824 Thanks
    michelle09
    Glad the support here is helping keep you on the straight and narrow (it does for me too).

    Hopefully your step-parent will pull through as quickly as possible. Will it be possible to convince them to move somewhere with more facilities?
    • try harder
    • By try harder 28th Nov 17, 10:19 AM
    • 528 Posts
    • 1,676 Thanks
    try harder
    Morning Busy Mee1. Please dont stop writing in your diary ,i for one look forward to seeing your posts and i am inspired by your financial improvement month to month and listening to stories of your family and home .I am so sorry that you are feeling a bit low at the minute ,it happens to all of us for varying reasons and its only to be expected with all thats going on you must be exhausted both physically and even more so emotionally ,these sad events drain us and also bring it home to us how hard it can be getting older .We had some friends who did the exact same thing and moved miles away from family and friends in their 60s for an adventure and of course the inevitable happened and they were left alone ,its a hard one .
    Hopefully you are at the gym now ,my daughter always notices it if she doesnt have her 3 or 4 times a week gym sessions ,you will bounce back ,i have felt sad a few times this week missing all the loved ones in my family who always spent Christmas with us and are no longer here ,although Christmas is a happy time its also very tiring with so much to think about and so much to arrange and it must be even harder for you as you also work so hard .All in all it would be surprising if you didnt feel low with all that you have going on at the minute but it will get better and you are such a lovely person you are making a wonderful difference to your this mans life be proud of yourself x
    • themadvix
    • By themadvix 29th Nov 17, 1:25 PM
    • 1,149 Posts
    • 6,710 Thanks
    themadvix
    Please keep writing BusyMee! I look forward to your posts about your life and the latest scam you've pulled on the banks

    Hope things improve for elderly step-parent and hope you get that hole in the wall filled in soon!
    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 2nd Dec 17, 7:54 AM
    • 439 Posts
    • 1,730 Thanks
    Busy Mee1
    Thank you for your good wishes, I have been very fortunate over the last week and really experienced the kindness of relative strangers. It has made me feel very grateful. The news is not great though and although my parent is starting to recover from the initial diagnosis, tests have uncovered something much more serious and they won't be able to treat him. There is to be a meeting on Monday to discuss palliative care and next steps.

    Although he is a good age and has had a good life, it is all very sad. I just hope that the last stage of his life will be comfortable, without any pain and fear.

    I am trying to look practically now at the next few weeks in the run up to Christmas to free up as much time as I can. I have cancelled out of a couple of Christmas meals that mean staying away from home and I am trying to manage down any work commitments.
    MSE efforts are probably going to go on a back burner for now, but I will be back shortly with the November update ( didn't feel right to include it in this post).
    • Busy Mee1
    • By Busy Mee1 2nd Dec 17, 8:08 AM
    • 439 Posts
    • 1,730 Thanks
    Busy Mee1
    November Update
    It has been a very eventful month but we have managed to stay on track with everything. Finances have been tight, but mainly because of the holiday credit card spending and paying for the new gate.

    So the figures for November are as follows:

    Saved this month. £1530.49
    Total Savings. £59,333.62
    Mortgage. £242,113.53
    Savings offset Mortgage to: £182,779.91
    Savings:Mortgage. 24.5%

    The good news is that we managed to save £1500 again and we now only need to put £666.38 into savings to hit the £60k target by the end of December. Anything else will be put towards the fireplace, which will need paying in January. Hopefully at the year end we will have saved 25% of the mortgage.
    • try harder
    • By try harder 2nd Dec 17, 9:40 AM
    • 528 Posts
    • 1,676 Thanks
    try harder
    When something happens to someone we love or care about age becomes irrelevant and although we know that maybe our older relative has had a healthy ,happy life the love we feel for them is exactly the same as any other so this thinking does not help us ,we want to keep that person for ever and if this person that we love is suffering this can feel unbearable too and the feelings of helplessness can be intense ,these reactions are completely normal and although very difficult whilst going through it it also brings with it a feeling of perspective ,a full realisation of whats important in life ,firstly love followed by health ,other things no longer seem so important .Things will get better again Busy Mee1 meanwhile do what you can but dont completely wear yourself out i dont know if you have /he has other family members who can share everything with you i do hope so .Take care of yourself .
    • Busy Mee1
    • By Busy Mee1 2nd Dec 17, 10:46 AM
    • 439 Posts
    • 1,730 Thanks
    Busy Mee1
    What a lovely post - made me tearful. Thank you Try Harder x
    • themadvix
    • By themadvix 4th Dec 17, 10:07 AM
    • 1,149 Posts
    • 6,710 Thanks
    themadvix
    So sorry to hear your sad news BusyMee, but I completely agree with what TryHarder said - just because someone has lived a good, full life, it doesn't make it any easier to say goodbye. I hope the meeting goes well today. x
    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 6th Dec 17, 9:14 AM
    • 528 Posts
    • 1,676 Thanks
    try harder
    I have been thinking about you the last few days and wondering how things went on Monday
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