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  • FIRST POST
    • Retro.Monkey90
    • By Retro.Monkey90 15th Nov 16, 12:20 PM
    • 60Posts
    • 203Thanks
    Retro.Monkey90
    Little by little....to be MF
    • #1
    • 15th Nov 16, 12:20 PM
    Little by little....to be MF 15th Nov 16 at 12:20 PM
    So I have been lurking for about a year now and I feel like it's time to start my own diary on my journey to being MF! I'm also seeing it as another step of encouraging progress that keeps me motivated and eager to be frugal.

    Our mortgage is at the moment a touch under £128k and it was £134k when we bought our new build house in 2014. We are on the Scottish Help to Buy scheme, therefore our equity is 80% of the value of our house, which is currently £190k (just to put it into perspective). BF and I bought the house as first time buyers, so we are determined to start making a dent in the mortgage as soon as possible. Our OPs at the moment are a meager £75 as a SO, but this is already cutting 4 years and 8 months off the term! So original date was September 2044 and now we are on January 2040.

    BF and I are both on average salaries and are doing everything we can at the moment to cut back as a series of unfortunate events has forced us to be uber-frugal. However, I intend on keeping it going and doing more to save so that we can throw everything (within reason) at the mortgage. Also planning a few big purchases this year and next which we need to save and budget for.

    As this is my first post, I'm not sure what else to say other than any help or suggestions would be grand! Also hope this diary will not bore you all to death
Page 3
    • Retro.Monkey90
    • By Retro.Monkey90 16th Jun 17, 2:41 PM
    • 60 Posts
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    Retro.Monkey90
    Hi SJ - yes you are right! I suppose it is difficult when you are right in the thick of it to see light at the end of the tunnel. But since making the decision to overpay our mortgage we have saved on interest, probably into the thousands now, from a relatively modest OP. So we can dream to do it again even with a mahoosive new mortgage! Thanks for your encourage though, it means a lot
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • shangaijimmy
    • By shangaijimmy 17th Jun 17, 10:12 PM
    • 2,147 Posts
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    shangaijimmy
    Not sure if its right to think of it now but try and speak to friends about it. I'm amazed at the poor position most of our friends are in! We have family members earning thousands more than us, with similar mortgages and they're years behind! In a macabre way its encouraging to speak to others about money situations as you'll quickly realise you have a healthy approach to mortgage debt.

    It's a very British thing but we never speak about money. How many of us know how much our parents actually earned at various life intervals, how much their pensions yield etc... Its such an uncomfortable subject yet so important. I'm determined that our kids will talk openly about money
    MFW: Turning June 2036 into March 2023... 29//120 Payments Challenge, Diary Reduction £30,703.25
    Aug 2009: £163,051 // Current: £105,296.75 // Avg Daily Interest £4.73
    MFiT-T4 #8 - 47.86% of £41,000
    • Retro.Monkey90
    • By Retro.Monkey90 20th Jun 17, 10:52 AM
    • 60 Posts
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    Retro.Monkey90
    Well SJ I am the world's worst for comparing my success against others so I do that but always in a negative way! However, I know some family members that we are definately ahead of even though we have quite meager salaries, although it is to the detriment of our social lives as we never go out but tend to save the money instead. Then I think of all the things I want but never buy and feel sorry for myself. But definately seeing the ££ drop on the mortgage is better than anything I can buy!! It's all relative but sometimes you just feel crap about it all! Thanks again for your encouraging words SJ!

    Not much TT this weekend oops! But managed a £1 TT yesterday so hopefully made up for small one only 40p TT today. Not sure what the pot stands at but will check tomorrow when I can. We have had the valuation on the house done so just the solicitor and Scottish Ministers to pay now. Saw a fixer upper for the parents but not sure if they want that sort of thing.....ah new builds are so much easier to look for!

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 23rd Jun 17, 9:59 AM
    • 60 Posts
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    Retro.Monkey90
    Morning all

    So the valuation came in at the figure we thought so the money to go to the Scottish Ministers is just as we budgted for. All the paperwork done so we just need to wait for them to ask for it! It is good to know our house has gone up in value but about £12k in only 3 years, and being a new build that it is even better.

    Finance wise, we are still keeping grocery spends as low as we can. Not spending much at the moment, but had two breakfasts out to perk us up after helping my sister move house for a mammoth 18 hours!! Think we deserved it TT £1 today, and I still haven't totalled the pot but hey ho.

    Exhausted just trying to get through this all while knowing we are not going to be able to afford the wedding we would like, and given up the opportunity to have an engagement party (which I really was looking forward to). But there are bigger sacrifices my parents would have had to make for me to get where I am so I need to just think about that!

    Have a good weekend all, wine is just about in sight....
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 26th Jun 17, 10:09 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Morning all!

    Only popping on to say 37p TT today and forgot to TT over the weekend AGAIN! Oops.

    Also just waiting for the go ahead to pay the money to the Scottish Ministers so not much doing. Also in the midst of switching to Nationwide with a £100 referall bonus as I am done with my last switching bonus and credit score on the up again! Asked for an overdraft as the future may hold some very tight finances and if I can borrow at 0% then I would rather do that then pay fees or interest.

    Hope you had a good weekend and Monday isn't too harsh
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 3rd Jul 17, 11:17 AM
    • 60 Posts
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    Retro.Monkey90
    Morning all! Hope everyone had a good weekend, we did managed to snag 50% off a good steak restaurant in town which happened to be off alcohol as well

    OP my monthly TT pot which was a whopping £15.19!! Still it's the only thing I can cling on to at the moment, as when we remortgage to our full equity we won't be able to OP unless we sell a car but we love our cars so that's not going to happen. Only another 2 years on my car so then we will OP that payment, and hopefully when we remortgage again, our house price has gone up again (wishful thinking) and we can OP the difference like we did the last time. It's all go with the flow at the moment which I don't like, because I like to know exactly what my financials are all the time.

    Have a good week all
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
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    • Retro.Monkey90
    • By Retro.Monkey90 6th Jul 17, 11:29 AM
    • 60 Posts
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    Retro.Monkey90
    Hi everybody!

    Feeling a bit meh lately, not sure if it is the stress of this mortgage/Help to Buy malarky or the fact my diet is kicking my a**e . Got the letter from the solicitors with bank details to do the money transfer but it has to be done!

    TT a whole £1 this morning so feeling smug about that, but I have about £15 to do a night out and a new outfit for said night out losing weight means my clothes aren't fitting very well not very MSE but hey ho. At least grocery spends have been low (although a few cheeky dinners and take aways).

    Anyway off to waste time before lunch because I am starving as usuall....
    Retro x

    Save
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • TwentySomethingGirl
    • By TwentySomethingGirl 7th Jul 17, 9:44 AM
    • 152 Posts
    • 347 Thanks
    TwentySomethingGirl
    I hope the HTB isn't being too awkward for you. We've just got the new mortgage offer and waiting on whatever happens next...

    Enjoy your night out!
    Mortgage £126746 DEC14 £122423.53 DEC15 £115041.70 DEC16
    MFW2017 #85 £2633.7/£2500 12K IN 17 #85 £5500/£12000
    MFW2016 £3614.63/£2500
    MFW2015 £811.60/£1200
    • Retro.Monkey90
    • By Retro.Monkey90 7th Jul 17, 10:36 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Hi TwentySomethingGirl not at the moment, but there is still time for that! As we are using a gifted deposit and then remortgaging there are a lot of variables that could go wrong. Trying to keep our credit file squeeky clean as well. Although my fiance has trouble with keeping his father's credit file seperate as they have the same name so there are a lot of corrections because of it. He still has a higher credit score than me though!

    TT another whole £1 this morning and realised there will be no groceries this weekend so I suppose the money I spend on going out will be justified

    Have a good weekend all
    Retro x
    Save
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 10th Jul 17, 2:06 PM
    • 60 Posts
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    Retro.Monkey90
    Hi all, hope you all had a good weekend

    Had a blast on Saturday, although my bank account had a bit of a meltdown! Luckily I don't go out very often Nationwide switch has completed so I just have to wait a week or so (so they say anyway) for both our £100 to be paid. Solicitors are being paid this week so the £200 will come in handy.

    20p TT today...after a long stream of £1 TT it is difficult to get a small one! Still better than a penny - although I must admit I usually TT £1.01 if that happens rules are meant to be broken!

    Hope this week doesn't end up being too expensive, but managed to stretch out the groceries to almost 2 weeks so at least our other spends are low.

    Have a good Monday everyone
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 11th Jul 17, 3:28 PM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Another £1 TT today, and that is about as MSE as I am being! Managed to get my £5 off £50 shopping at Tesco for a big shop so got stocked up on meat and almond milk because these are considered luxury items in my book!
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 17th Jul 17, 4:33 PM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Hi all,

    Productive weekend, cleared a room of rubbish and now is our gaming room! Feels good to get rid of the cr*p we have been hoarding for 3 years! Went to the cinema, and it's good we hardly ever go because it is a small fortune to go on a weekend in the evening friends made us dinner so no spends other than the popcorn (because I was actually starving, oops).

    £1 TT today and pot sitting at £11.40 for the month. Missed a couple of days but trying to keep on top of it at the weekends though. £2 every weekend amounts to between £8-£10 of a TT pot if it is a £1 TT everyday that is....

    Hoping to keep things low low low this week as we are in the running to get a second mortgage shortly.

    Hope everyone has a great week!
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 18th Jul 17, 11:25 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    So 6p TT today...reminds me of the title of this diary little by little...I was tempted to TT £1.06 as per a 1p TT but our balance has a lot of 5s so internal OCD didn't want to mess with that

    Still haven't heard from solicitors so should be any day now we are H2B free. Looking at things we need to sort in the house to get ready for our engagement party, as we decided we will have one and no use in being all 'poor me' about it! Just going to be in the house and no venue so need to spruce it up and tidy up a few bits so we can fit people in!

    Lovely day here in bonny Scotland so I might have to spend 75p on a lolly to cool down

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • shangaijimmy
    • By shangaijimmy 18th Jul 17, 12:00 PM
    • 2,147 Posts
    • 9,588 Thanks
    shangaijimmy
    ice lolly/ice creams in my opinion should be classed as essentials...
    MFW: Turning June 2036 into March 2023... 29//120 Payments Challenge, Diary Reduction £30,703.25
    Aug 2009: £163,051 // Current: £105,296.75 // Avg Daily Interest £4.73
    MFiT-T4 #8 - 47.86% of £41,000
    • Retro.Monkey90
    • By Retro.Monkey90 18th Jul 17, 1:47 PM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    in this heat SJ you are totally correct! Well our Scottish heat, we're not used to the shiny ball in the sky!! I only spent 60p on a knock off Calypso anyway
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 19th Jul 17, 10:38 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Not much doing at the moment. 30p TT this morning and still in budget with groceries so everything is just ticking along.

    Need to get a car insurance quote once we have the DiP for the mortgage. Our renewal is £300 more flippin ridiculous money! So might have to hop back to DirectLine as we have home insurance with them. But don't want any credit searches in the next couples of weeks so we have to hold out - not something I am used to. I usually get a quote (or few) as soon as the renewal price is through.

    Bit grey here after the delightfully sunny day we had yesterday. Always need an extra bit of motivation on grey days!

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 20th Jul 17, 4:24 PM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Morning all

    TT £1.01 this morning so total OP pot as it stands is £12.56. Again not sure if I will make the £20 mark but we can try!

    Worked out that even when we are on the new mortgage (£164k) if we keep up with TT of around £20 it still cuts a year off and save £3114 of interest! I have to keep telling myself this, as the looming prospect of having a huge mortgage that we didn't intend on having so soon is bearing down on us. So must think positively!

    Retro x
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    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
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    • Retro.Monkey90
    • By Retro.Monkey90 26th Jul 17, 10:38 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Morning all,

    I'm waving from our soggy land up north - I actually might have to get a canoe to get home

    Awful weather always dampens my motivation, so I'm posting on here so it feels like I have at least achieved something with my day! TT 59p and should be all £1 a day TT from now so hoping to get to the £20 monthly target. Looking at it we only OP realistically £75 (min) to £95 (max) and we can see a very minute difference. Long term it would be great to OP £300-£400 a month when we have paid off our cars and use the £200 odd left to save for holidays/new cars/emergency fund(!) etc. At the moment if we do have spare cash it would be saved for the wedding but there isn't much of that at the moment! More like negative cash.... but we should be past it sooner than we think and it is all for the best cause and improvement of our future etc etc.

    Anyway, hope we don't get trench foot up here!
    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 28th Jul 17, 9:02 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    So back to £1 TT and I think I could make it if I TT everyday until the end of the month....I think I might even cheat and TT £2 if I have to!

    Solicitors finally happy with all paperwork and have sent the money off and preparing all the Landy Registry bits. Can't believe we are going to be the sole owners of the house. I know that sounds daft but when we set out we had a £135k-ish mortgage and that seemed HUGE and excessive. But now we will be on £164k-ish and it's not really that crippling. It is going to be difficult but not impossible. We also have a friend lodging with us for 3 months as he is an oil and gas pipeline inspector and will be up our way for a bit, so some extra £££ to add to our non-existent wedding fund (and small OP pot).

    If we buy the one house we are looking at, it is not only much cheaper which would mean more flexibility in what we can do but it is also a good investment. Lots of holidaying people in the area needing a holiday house so if it all turns out to be not good, we can always turn it into a but-to-let mortgage and be done with it.

    After reading all my recent posts, I feel like such an adult! I have never got to grips with living in suburbia with a 4 bedroom house, dog and nice cars. That might sound arrogant or entitled, but I have worked for everything I have but I somehow couldn't believe the life I had was mine as I always feel about 17 in my head! And I have been re-living some of my youth doing things I used to just to balance the 'adulting' I have been doing. Not sure if anyone else feels like this or it is just me

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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    • Retro.Monkey90
    • By Retro.Monkey90 1st Aug 17, 11:59 AM
    • 60 Posts
    • 203 Thanks
    Retro.Monkey90
    Hi all,

    Not much to report other than my £20.90 bonus OP from my TT pot made my target which I am pleased about. Should hear in the next week or so about our H2B so then we can get our DiP for second mortgage. All a waiting game now....at least we have our eye on a specific property which means less house hunting!

    Our lodger should be coming up this weekend as well, so hopefully a little extra ££ to help with our stretched finances

    Retro x
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
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