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  • FIRST POST
    • zcrat41
    • By zcrat41 13th Jul 16, 4:30 PM
    • 1,400Posts
    • 3,840Thanks
    zcrat41
    ZC's Aim for a little independence
    • #1
    • 13th Jul 16, 4:30 PM
    ZC's Aim for a little independence 13th Jul 16 at 4:30 PM
    Hello.


    I've been a regular on MSE for a long long time and have been a follower of many fabulous diaries on here. I've been thinking for a while that it would help me to have a diary as I do spend quite a lot of unnecessary money. Don't expect anyone to read - it's to help me!


    So, DH and I are lucky enough that our family house is mortgage free. I had a house before I met him which is the mortgage that I want to pay off. The house is rented out. Here's the financials:


    Amount remaining: £67186.98
    Term remaining: 18.5 years
    Monthly repayment: £429.91 (somewhere around 4.8%) fixed in for 4 more years.
    I started with £81 000 6.5 years ago. I've made the odd o/p of £100 pounds here and there but with 2 mat leaves in this 6.5 years I've not got very far.


    The rent I get is £575 pcm. I put the excess in an account to cover tax and repairs etc.


    DH and I live out of our joint account that we contribute equally too for our day to day spends. It covers all our essential bills and essential living costs. I.e. it would cover jeans for day to day work but not a fancy dress that I want but don't need.


    We then have our separate accounts where my excess salary goes and pays for the fancy dress that I don't need. My aim is to use as much of this as possible to overpay the mortgage. I tend to buy unnecessary stuff out of my own account. It's easy to get lax in the joint account to so I tend to sub it if I need to.


    I'm aiming to start off with o/p by £80 pcm. This would pay off the mortgage 3 years and 9 months earlier. I hope to increase this significantly as my income increases as my children get older.


    The reason I call this my independence diary is that both DH and I run family businesses' and our finances are very joint with parents. DH is extremely tight - which is a good thing most of the time as it's how he runs a good business. I want a little fund though so that if I want to go on a spa trip or a cruise I can! We both currently work hard and don't take much time off though and my salary is the one that pays for the nice little extras so I need to have a balance between o/p and nice experiences/things.


    I'm not sure whether to save with a First Direct regular saver at 6% or just straight pay off the mortgage.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
Page 5
    • zcrat41
    • By zcrat41 2nd Oct 16, 2:59 PM
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    • 3,840 Thanks
    zcrat41
    Uh oh. Maybe shouldn't drink the homemade plum gin at the harvest lunch then go online shopping. Have just spend £108 on Boden stuff


    In my defence there was a 50% sale on, I had a voucher with a further 20% off and went through Quidco to get 10% back so 7 out of the 8 items I got were 80% off rrp. Most of the stuff was kids wear for winter so should last well. And a couple of stripy Bretons for me and you can never have too many stripy Bretons!
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • zcrat41
    • By zcrat41 6th Oct 16, 6:55 AM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Morning everyone.

    Still doing well at ZC house. I've had to buy a little black dress for an event last minute. I bought 6 dresses online and have returned 5. Stupidly I forgot to put the returns label in. I rang up and the chap said it should be ok. Fingers crossed as that could be a very expensive !!!! up.

    Just done a v expensive food shop as all the family are coming over for roast beef on Sunday. My brother is about to go and work abroad for a few months so we want to give him a good send off.

    I'm beginning to feel guilty about my spa break later this month. My family don't do holidays and dh's family do nothing without involving their children so me going away is an anathema to all. I know deep down i should live my life how I want not how they want but it's interesting how much their expectation bothers me.

    Sent off the registration fee for DS's school for next September. It felt like rather a momentous cheque to write!

    Have a good day everyone.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • zcrat41
    • By zcrat41 12th Oct 16, 7:18 PM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Hello everyone.
    I'm impressed with Tesco's return service - they found the dresses and refunded me asap. Really chuffed with that.


    The mortgage o/p pot is now sitting at just over £1000 since I started in late July. I'm so pleased! I'm thinking of opening a stocks and shares ISA and feeding the money into that. I've been looking at Nutmeg as there's a Quidco incentive of £105 on. Does anyone know anything about it? Or have any advice as to where I can start looking. I'm happy to be pretty risky with the money as I don't need it and can wait out any lows really.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • zcrat41
    • By zcrat41 13th Oct 16, 9:12 AM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Been reading the MSE guide to S&S ISA. I see the someone like Nutmeg manages the money for me whereas another platform I have to choose the funds for it to go in. Not sure really!


    Off to toddler group at church today then a nice quiet day at home with the kids cleaning/doing the garden/baking.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • try harder
    • By try harder 13th Oct 16, 2:24 PM
    • 179 Posts
    • 456 Thanks
    try harder
    Great diary and well done ,great progress.
    • zcrat41
    • By zcrat41 14th Oct 16, 6:34 PM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Thanks Try Harder.

    Today has not been a good day. Our drill broke. Our tractor broke. We discovered our Solar panels have been broken for a week. Our boiler broke.


    Then the child 1 had a poo accident and child 2 tried to help clear up.....


    And being a family business we all had a mighty great row and blamed each other.


    I've just eaten a whole pizza and opened the wine. Roll on tomorrow for a fresh start


    On a positive not I'm quite chuffed with myself for not ordering takeaway!!
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • EatingTheElephant
    • By EatingTheElephant 15th Oct 16, 6:04 AM
    • 605 Posts
    • 2,923 Thanks
    EatingTheElephant
    Hope things go a bit better for you today. Sounds like a crazy day. Is it all fixable?
    • zcrat41
    • By zcrat41 15th Oct 16, 2:03 PM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Thanks Eating the Elephant (great username by the way)


    It is all fixable - slightly annoying with the drill as it's a very expensive new bit of equipment and it seems like a manufacturer fault.


    Today seems to be going much better! Spend £5 at a church coffee morning and £1.99 on a last minute kids birthday card. I need to make a trip to card factor to pick up 10 for £1.


    Hope everyone is having a nice weekend.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • giblet1979
    • By giblet1979 15th Oct 16, 4:15 PM
    • 846 Posts
    • 3,398 Thanks
    giblet1979
    Aww....glad today has been much better x
    Debt remaining:
    Mortgage - £122,780 (of £134,600)

    Work overpayment and home improvement loan paid back (£19200)


    • zcrat41
    • By zcrat41 27th Oct 16, 2:27 PM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Afternoon all.


    A stressful few weeks has seen me dip into the mortgage o/p fund. It's not the end of the world as I can afford a treat and it's made me feel a lot better (I've booked some treatments for my spa stay next week) but it would be easy to fritter the money away. So, today I rang up and made my first op to the mortgage - £300. I've also set up a £50 regular o/p.


    I've also set up a S&S Isa with Charles Stanley and transferred £300 into that plus a £50 regular payment in.


    That leaves £300 sitting in the o/p fund in high interest current acc. I will leave that there just as a little back up for anything that needs doing with the intention of paying more off the mortgage once it's done.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • zcrat41
    • By zcrat41 3rd Nov 16, 6:45 AM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Morning all.


    So I had my spa stay and it was AMAZING! I love that place so much. It really reinvigorates me for the year. They do a 20% off gift vouchers in November so I'll be asking DH to get me those again for Xmas. Thinking about it I may be better to buy the remainder of my trip (I like to go in November and it costs around £300 all in and DH buys me £70) in that deal too. I then hang on to the vouchers and buy one of their good offers. Hmmm may think about that.


    Talking of presents Xmas is round the corner. The godmother to my youngest has asked whether we want to do Xmas presents, I'm thinking of saying no as my kids presents are getting a bit out of hand but then she will be buying my DD a birthday present each year as godmother. Not sure really.


    We get some Tesco vouchers for supplying them as farmers - they equate to 10% off and they've just arrived which is great. The only downside is that I can't use them online. This drives me mad as friends who work for Tescos tell me they can use their discount online.
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • zcrat41
    • By zcrat41 10th Nov 16, 1:30 PM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Hello all.

    Applied and was accepted for an AA credit card this morning with 0% on purchases for 24 months plus £35 cash back. I'm going to use it to buy vouchers for my next spa trip basically saving myself £65 on the trip. Hope it arrives before the voucher offer runs out!
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • zcrat41
    • By zcrat41 13th Nov 16, 8:06 AM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Morning all.


    Have bought DS a bike for Xmas in the Halfords sale. Had £20 worth of vouchers from Shop n scan so it'll be £80 plus a £15 voucher to spend on bike accessories. We've gone for a neutral one so that my DD can inherit it! I think he'll be riding it pretty soon. It's DS's first year where he'll really "get" Father Christmas. I think we're going to do big present from Mum and Dad (like Bike) then Santa will do small but fun stuff like Lego, sweets etc.


    Not sure what to get DD. Might get her a seat from ebay to go on the back of my bike.


    Went for a curry last night with really good friends. Its like food for the soul seeing good friends. Good value at only £50 per couple considering there was a mountain of delicious food and rather a lot of pints consumed.


    I've been doing a lot of soul searching the last few days. I took on a role in our church about 2 years ago which is just proving too much. I'm starting to dislike church now because of it and that's not what church should be about. I thought it would be easy to do once the kids were in bed but in fact it's taking up to half a day a week plus a lot of Sundays. It's DS's last year before school next year so I'm thinking of giving it up. I don't want to as I feel strongly I should do something for the community but this role is just too much. Any other Christians out there with thoughts on this?
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
    • beanielou
    • By beanielou 14th Nov 16, 6:42 AM
    • 44,851 Posts
    • 155,407 Thanks
    beanielou
    Not a Christian but a Buddhist!!
    If it is too much give it up
    Chat to who you need to and say you are giving it up by X time.
    Cherish the time with your littlies.
    They grow up so quickly.
    My DS is an adult now.
    How did that happen!!!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • apple muncher
    • By apple muncher 14th Nov 16, 6:52 AM
    • 5,297 Posts
    • 38,579 Thanks
    apple muncher
    Stuff at church should be a pleasure and a joy to do, not a chore that you start to dread. Personal experience here! I have recently dropped all my commitments there (admittedly they weren't many!) as events in my personal life are overwhelming at the moment and although my dd is older than your kiddies (she's 8), it is all affecting her and I want/need to be there for her. I had said that I would re-think at Christmas, but know already that I will not be returning for several more months yet.

    Making the decision to stand down gave me great peace. I often use that as a marker for if it is the right thing to do.
    NST Dec #15; NSD 1; 2016 Pay off: £3314/£3980 (83.3%)
    2016 sell 431.75/1000

    Mortgage £33,979 (01/14: £78,201; 01/15: £59,629; 01/16 39,915) MFWDate Dec 2018
    • zcrat41
    • By zcrat41 15th Nov 16, 10:00 AM
    • 1,400 Posts
    • 3,840 Thanks
    zcrat41
    Thanks Beanielou and Applemuncher. The sermon on Sunday was all about giving lives generous in Service and it really made me think. I also want to lead by example with my kids and I want them to see me and our family being an active part of our community. I've written a resignation but I'm going to mull it over and make a decision by Christmas. It doesn't help that we had chicken pox this week so everything has felt a little stressful!


    Budget is ticking along nicely for November. Hoping to spend less than I've budgeted for at Christmas. I'm doing quite well with the 3 for 2 like offers at the moment.


    Not much extra coming in at the moment as I do seem to have ebayed the house out!


    Have a nice day everyone
    Started aiming for Mortgage Neutrality July 2016.
    Aug 2016 target - £277.30. Achieved so far £281.84
    Total saved since start: £458.97
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