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  • FIRST POST
    • LadyGnome
    • By LadyGnome 20th Apr 16, 6:05 PM
    • 410Posts
    • 1,502Thanks
    LadyGnome
    A Journey of Many Pounds Starts With a Single Penny
    • #1
    • 20th Apr 16, 6:05 PM
    A Journey of Many Pounds Starts With a Single Penny 20th Apr 16 at 6:05 PM
    Like many I have lurked for some time popping up on people's diaries with comments but I've decided it's time to come out of the shadows and start my own.

    Let me introduce myself. I am 46, live in London with MrGnome and two school age children. We have been MF before but when we decided to move we kept the MF house as a BTL and bought a project to do up. Mr Gnome does up properties as a part time business so he did a back to the brickwork renovation and extension on the house which is now finished (mostly ). I work full time as the main earner.

    The combination of the renovation and house price rises mean our LTV is below 50% so our interest rate is pretty good (2yr fix at 1.74%).

    I won't be making huge overpayments as we currently pay school fees as well as the mortgage. Additionally I have to balance frugality with enjoying life with the children.

    As the mortgage is large
    £268,261 today
    I am focussing on smaller goals which I will put in the next post.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
Page 17
    • LadyGnome
    • By LadyGnome 21st Apr 17, 11:44 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Kettle/Vinegar , At least he tried... my OH has to be told before he "notices" things need doing
    Originally posted by Moneyfordreams
    If truth is told Mr Gnome is more house proud that me. I was lucky that it wasn't bleach in the kettle as he is forever randomly bleaching things.

    Camping break sounds rather lovely. I must be getting old - camping actually appeals to me briefly
    Originally posted by Watty1
    It was lovely. It was good to slow down and do simple things. Even cooking meals is more fun when you are doing it outside. Some people in the neighbouring tent left cups on their camping table and the ponies had great fun knocking them over and licking the contents off the table. The campsite did warn you not to leave stuff outside but they must have forgotten.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • Busy Mee1
    • By Busy Mee1 21st Apr 17, 2:45 PM
    • 295 Posts
    • 952 Thanks
    Busy Mee1
    The kettle/vinegar thing made me laugh - this wouldn't occur to Mr Mee either. I do quite like to randomly bleach things though

    Your Easter holidays sound lovely, my two loved camping holidays when they were young and funnily enough it is those holidays they remember best, rather than the more expensive ones. Mine were always at their happiest out of doors, generally in a pair of wellies messing about in water
    • LadyGnome
    • By LadyGnome 22nd Apr 17, 6:07 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    We are toying with the idea of keeping bees so we went to join the local beekeeping association today. Its surprising how many beekeepers there are in London. I put aside a pot of money to cover getting started so we may be getting a hive soon.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • brizzledfw
    • By brizzledfw 24th Apr 17, 11:46 AM
    • 6,785 Posts
    • 32,545 Thanks
    brizzledfw
    Very cool. We have toyed with this idea but not done as yet. Got chickens instead Keep the hive on a first floor roof perhaps?
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    May '17 Savings Rate Goal: 25% [Apr 10%]
    Declutter 50 items before 31.05.17 15/50 ** LSDs Target 5 for May 03/05 **AFDs 09/20 ** Sales Target '17 £750 £80 so far
    **NSDs Target 5 for May 04/05
    • LadyGnome
    • By LadyGnome 24th Apr 17, 12:51 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Very cool. We have toyed with this idea but not done as yet. Got chickens instead Keep the hive on a first floor roof perhaps?
    Originally posted by brizzledfw

    We are weighing up options for the site of the hive. One possibility is the garage roof which is flat and strong enough to take the weight but would need a step ladder to reach. It also makes the hive very obvious. There is a corner of the garden near the neighbours shed that has potential as the shed wall would push the bees upwards away from the gardens. The other option would be the roof of our rear extension which can be reached from one of the bedrooms. The downside with that option is I think it would upset the neighbours who might get stressed at the idea of bees next to their children's bedrooms.
    I think we will probably go for the corner of the garden as its less noticeable.


    Last day before payday so I will be doing the account sweep this evening there should be £16 for the pots.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • LadyGnome
    • By LadyGnome 25th Apr 17, 9:13 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Payday

    £16 swept yesterday to each pot. I've made my standard monthly OP of £235 this morning. I will finish the money shuffle tonight but I wanted the mortgage OP to go ASAP so it shows in the balance before 27th. I always record my mortgage amount on the 27th as it is the last day before the monthly payment goes out so is the final value for the month.

    The school fees have are going up from Sept as expected. Fortunately I have been over accruing for extras, music lessons etc so I can resize those accruals and absorb the increase without having to change how much I save each month. I put away 1/12 of the fees each month from April which means the money is always there to cover the bills.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • PurpleFairy26
    • By PurpleFairy26 25th Apr 17, 7:05 PM
    • 1,617 Posts
    • 10,962 Thanks
    PurpleFairy26
    Glad you're still with us and Mr Gnome didn't manage to finish you off :rofl: how lovely to have bees and well done on the overpayments.
    • LadyGnome
    • By LadyGnome 26th Apr 17, 10:50 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Hello all

    Payday money shuffle is done. I should be able to make an extra OP in May when I tidy up the accruals pots as some pots are overfilled.


    With a fair wind behind me I should get the mortgage below £250K by the end of May which will be a cause for much celebration.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • LadyGnome
    • By LadyGnome 29th Apr 17, 6:17 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    We visited the local beekeeping association again today and bought some of the parts for our own hive. Its much cheaper buying it through the association which means that the money we've put aside will cover this season and next at least. We will buy the rest next week and wait for a swarm to become available.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • LadyGnome
    • By LadyGnome 4th May 17, 11:16 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    I've reviewed my accruals for school related stuff and freed up £100 for each of the pots. Also ERNIE favoured me again this month with a £25 win so I will send another £6.50 to each of the pots (+1 new pot) when that hits my bank account.
    Last edited by LadyGnome; 04-05-2017 at 6:09 PM.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • brizzledfw
    • By brizzledfw 5th May 17, 7:47 AM
    • 6,785 Posts
    • 32,545 Thanks
    brizzledfw
    All sounds good.

    OH very excited about the bumble bee nest we realise we have in our compost heap...so no honey for us but lots of lovely pollinators..

    Got a work trip with an overnight to the Big Smoke next week..need to think how best to use it.

    Waiting to do the money shuffles next week...can't wait. We are under £150k now on the mortgage which feels like a huge milestone lifted..

    X
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    May '17 Savings Rate Goal: 25% [Apr 10%]
    Declutter 50 items before 31.05.17 15/50 ** LSDs Target 5 for May 03/05 **AFDs 09/20 ** Sales Target '17 £750 £80 so far
    **NSDs Target 5 for May 04/05
    • LadyGnome
    • By LadyGnome 5th May 17, 10:10 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Hi brizzled, its lovely that you have a bumble bee nest, if you have any fruit and veg in the garden that needs pollinating it should do well this year.

    There are lots of MSE things you can do in London. All the major museums and galleries are free. I quite like people watching too.


    Below £150K is amazing, that must be a huge boost. I am keeping a careful eye on the mortgage this month its currently £250,054 I am hoping that the interest added will be less than the amount I intend to overpay next payday so I can pass the £250K milestone.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • greent
    • By greent 6th May 17, 4:38 PM
    • 5,810 Posts
    • 58,715 Thanks
    greent
    We have bumblebees living in an old tumble drier vent (never used by us) - one of the flaps on the outside of the vent broke. They're very active!
    Repaid mtge early (orig end 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next up: BTL Mtge 12/16 Bal £69786. 2017 OP target (#18) £2000/£3286
    Net sales 2017 £457.00/£500 PAYDOX17 £9435/£10k Decluttered 741/2017 items
    • LadyGnome
    • By LadyGnome 10th May 17, 9:33 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    We have bumblebees living in an old tumble drier vent (never used by us) - one of the flaps on the outside of the vent broke. They're very active!
    Originally posted by greent
    This is lovely. I love hearing about wildlife and people coexisting happily. I'd spend hours watching them.

    My premium bond win came through so the money has been sent to the pots. I am battling a cold today so feeling a bit sorry for myself but other than that everything is fine.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • greent
    • By greent 10th May 17, 12:47 PM
    • 5,810 Posts
    • 58,715 Thanks
    greent
    The vent is in the wall by the outside kitchen door - sort of at calf height and is an area I frequently pass, as the bins are the other side. The vent is also under the boiler flue - the bees seem to like this - when the flue is giving off heat (eg: when hot water is running) they hover around it
    Repaid mtge early (orig end 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next up: BTL Mtge 12/16 Bal £69786. 2017 OP target (#18) £2000/£3286
    Net sales 2017 £457.00/£500 PAYDOX17 £9435/£10k Decluttered 741/2017 items
    • LadyGnome
    • By LadyGnome 10th May 17, 2:57 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    You provide central heating for your bees...
    It sounds lovely.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • brizzledfw
    • By brizzledfw 14th May 17, 8:09 PM
    • 6,785 Posts
    • 32,545 Thanks
    brizzledfw
    Love that greent....that's a great image!!

    Hope you're feeling better now LG
    MFiT-T4 Member No. 96 - 2022 is my MF goal
    May '17 Savings Rate Goal: 25% [Apr 10%]
    Declutter 50 items before 31.05.17 15/50 ** LSDs Target 5 for May 03/05 **AFDs 09/20 ** Sales Target '17 £750 £80 so far
    **NSDs Target 5 for May 04/05
    • LadyGnome
    • By LadyGnome 19th May 17, 11:30 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Hello
    The cold has turned into bronchitis - oh joy! I am sitting at home without the energy to do much but at least its MSE. The annual interest was paid on one of my accounts - a whole £18.
    Still it's £4.50 for each of the pots (I am running an extra pot at the moment as I know there will be a £600 bill next year for something school related for the younger Gnomeboy).
    The weather has been awful over the last few days. I am hoping it will be better today and I can sit in the garden and get some fresh air and daylight. Hopefully, I can get the Guinea Pigs out and they can mow the lawn for us.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
    • themadvix
    • By themadvix 19th May 17, 11:44 AM
    • 755 Posts
    • 3,049 Thanks
    themadvix
    Hope you're feeling better soon!
    OPs 2017 = £2603/£10000
    S&S ISA = £200/£600
    OPs made 2016 = £6142.12
    Starting balance 2012: £132000; balance June 2017: £99,974
    MFW2017 no. 38
    • LadyGnome
    • By LadyGnome 19th May 17, 12:24 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Thank you.


    The Guinea Pigs are out and attempting to eat their own bodyweight in grass. It always amazes me how much they eat.
    Mortgage
    Start Nov 2012 £310,000
    April 2017 £251,443.64 Reduction £58,556.36
    MFW 2017 #42 £2054.30/£3100
    End Oct Sept 2034 but I have a cunning plan...
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