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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 18
    • AlexLK
    • By AlexLK 19th May 17, 11:55 PM
    • 5,634 Posts
    • 28,931 Thanks
    AlexLK
    Sorry to hear you're unwell; hope you get well soon.
    Savings 2017: 2000. Overpayments 2017: 500.
    Saved 11,000 in 2015, 9,800 in 2016.
    From 32,000 in debt on 2/9/2013 to debt free on 12/1/2015.
    • EatingTheElephant
    • By EatingTheElephant 20th May 17, 6:25 AM
    • 879 Posts
    • 4,462 Thanks
    EatingTheElephant
    Hope you feel better soon.
    • Busy Mee1
    • By Busy Mee1 20th May 17, 7:59 AM
    • 295 Posts
    • 952 Thanks
    Busy Mee1
    Boo to Bronchitis - hope you are feeling better soon. The weather appears to have brightened up here too after a week of rain. Have a good weekend x
    • LadyGnome
    • By LadyGnome 22nd May 17, 10:32 AM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Thank you everyone for the good wishes. I am on the mend but still taking things slowly. Its a long time since I've had anything as bad as that so I hope its a few years before it happens again!

    Not much MSE news other than I haven't really been spending and I won 3 on the thunderball.
    I've been doing some surveys whilst I was ill so I am over 20 on OP and YG.
    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 22nd May 17, 6:14 PM
    • 6,785 Posts
    • 32,543 Thanks
    brizzledfw
    Ooh nasty.. hope you're feeling 100% very soon

    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 23rd May 17, 6:33 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Ooh nasty.. hope you're feeling 100% very soon

    Originally posted by brizzledfw
    Thank you - nothing like a dodgy hug to make one feel better
    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 26th May 17, 2:40 PM
    • 410 Posts
    • 1,502 Thanks
    LadyGnome
    Payday has been and gone (it was nice whilst it lasted)

    I swept 13 the day before payday, my standard 235 and an extra 20 to get the mortgage below 250K for tomorrow. Total OP this month is 379.

    Tomorrow I will officially record my mortgage figure for May and it should be the end of my 40K in 40 months challenge, nine months ahead of schedule.
    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 26th May 17, 3:32 PM
    • 295 Posts
    • 952 Thanks
    Busy Mee1
    That is a tremendous achievement, particularly with a relatively young family. I didn't start making any headway until my two were off "the payroll "

    Well done and have a great weekend : )
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