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  • FIRST POST
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 11th Mar 17, 11:56 PM
    • 153Posts
    • 627Thanks
    DeterminedSingleMummy
    Overpayment Addict
    • #1
    • 11th Mar 17, 11:56 PM
    Overpayment Addict 11th Mar 17 at 11:56 PM
    Hi everyone, I've been reading lots of your stories and decided I should document mine too for lots of reasons...

    1. The motivation and support all you lovely people have given each other is amazing (I would like some of that please )
    2. Keep myself focused and see if I can push my overpayments higher
    3. Share my frugal experiences with you all
    4. Track progress of all over payments.
    5. I'm sure there's more but too tired to think atm...

    I've had my mortgage since 2009, moved to a bigger property in Dec 2011 with a mortgage of £87,500. I paid my mortgage every month but I also enjoyed myself every month (partying, cinema, food etc) and overpaying my mortgaging never crossed my mind... Having my DD in 2013 is what changed everything for me. The focus was no longer on me enjoying my life but her enjoying hers. I am a single mum and unfortunately I could not carry on with the job that I was doing before I had DD. I never want to be in a position where I've got to tell her no we can't do/have something because we have no money and that's where my overpaying addiction started...

    I never had any budgets, I would use my credit card and pay it off in full every month on payday. And because of this I struggled throughout my whole maternity, at first I thought it was all the baby stuff I was buying but it was clear after a few months that not having a budget was not going to work....

    From then on I have been focused on overpaying my mortgage and my balance today is £54631.
    I will have to dig out my mortgage statements to give u a summary of overpayments I've been making but at first it was £260 a month, then it went to £360 a month and now I over pay £500 a month... sometimes I don't even know how I do it as I only work part time and I do spoil DD a lot but I've been sticking to my spreadsheets and have been addicted to overpaying my mortgage and seeing that balance drop.

    My mortgage rate is 1.99% and it's fixed until Jan 2019 and I can start looking for a new fix four months before which is Sept 2018. There is 11 years and 5 months (I think, waiting for my letter from my latest overpayment) DD is 4 currently so I am aiming to pay off my mortgage by the time she is 10 which gives me 6 years. According to the overpayment calculator if I am on track with my overpayments of £500 a month I should have cleared it in 5 years. However I do sometimes miss a month not often tho... the mortgage taken out in 2011 was a 20 year mortgage so that would have ended Dec 2031. My current end date is August 2028 (I think...) Aiming to be mortgage free in 2023

    Well that's all for now... if I've missed out any info please ask and I will update you
Page 2
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 19th Mar 17, 4:10 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    My 0% ends in June so I may find a balance transfer with 0% fee... all the ones with my current cards have a small fee so I've always paid it off in full, canceled the card and then got a new 0% purchase card to spend on daily things... will have to do some research on balance transfers!

    No spend weekend Complete!! Yay!!! However no cleaning done... we went out both days but managed to spend £0! So that will add another £12 to my mortgage overpayment. If I can manage to save an extra £10 a week from my spending budget that's a massive £520 a year on top of what I've budgeted to overpay. Not sure how many weeks I will be able to keep underbudget by but won't know unless I try...

    Hope everyone has had a good weekend...
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 22nd Mar 17, 8:46 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    Hi

    So my new shiney 0% card has arrived and ive starting using my daily spend on it and increase my stooze pot. I have also decided to over pay another £1500 of my mortgage and be closer to maxing out my 10% allowance and save in the second half of the year rather than putting in equal amounts each month...

    A 3 ebae items sold and payments recieved! Yay! I had a few non payers in the past so i dont see an item being sold unless its been paid for. This tops up my paypal account to pay for DDs swimming which i should have enough for next 1/2 term now. Any extra will be transfered out and goes into overpayment pot!

    Since starting thread its really made me focus even more on getting rid of my mortgage... hopefully itll be gone soon!!
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 22nd Mar 17, 8:49 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    Also forgot to mention when i started this thread mortgage end date was August 2028 currently January 2028... I love seeing the date get closer and closer!!
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 24th Mar 17, 10:02 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    8 more things listed on Ebae. And another 3 items sold. One of the items was a broken watch which I clearly listed as a broken watch and I still sold it people will literally buy anything! So get all it junk online... if it sells it sells... if it doesn't then head to the charity shop

    Hopefully I'll be able to be underbudget by £10 This week so I can put another £10 towards the mortgage. Setting myself a little £10 a week challenge has worked for the last two weeks... hopefully I'll be able to keep it up...

    Hope everyone is enjoying their Friday evening... I spent mine doing laundry! Fun times
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • Kittenkirst
    • By Kittenkirst 25th Mar 17, 8:13 AM
    • 1,434 Posts
    • 7,098 Thanks
    Kittenkirst
    Well done on the eBay listing- I've been putting it off for 4 weeks...I shall list one now whilst I have a cuppa. Stuffs not gonna sell itself- thanks for the push
    Emergency savings- £3550.96 /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1441.10/ £2150. 67%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £71.17
    • Kittenkirst
    • By Kittenkirst 25th Mar 17, 8:50 AM
    • 1,434 Posts
    • 7,098 Thanks
    Kittenkirst
    Four items now listed! Thanks for the inspiration/push to stop me being lazy

    Edited to add- 8 pairs of mine & the gf's shoes all listed!
    Last edited by Kittenkirst; 25-03-2017 at 9:34 AM.
    Emergency savings- £3550.96 /£4000
    Mortgage Oct '16- £170.995 LTV- 90% end date Nov 2041
    2016 OPs £255.50/£150
    2017 MFW #20 - OP £1441.10/ £2150. 67%
    Jan- £68.21, Feb- £306.67, March- £272.01 April-£324.05 May £120.33 June £279.15 July: £71.17
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 25th Mar 17, 9:34 AM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    Yay!!! Reading other peoples threads got me started again. I stopped just after xmas (using xmas postage times as an excuse lol ) but only just got back into it. The more things that get listed the more things that are likely to sell! I currently have 11 things listed. I dont expect them all to sell but hopefully at least half of them will go. More laundry for me on this lovely saturday morning
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 28th Mar 17, 9:38 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    8 more items listed on Ebae all at 50% off final value fee too!! Yay! Total of 20 items atm. With two that have bids on already. I am literally listing any old junk and hope for the best...

    I also managed to be under budget by £10 again last week so that will be overpaid on 1st April.

    Also was incorrectly paid in work so will get a small payment by the end of March which will also be paid with April's overpayment! It's surprising how much these small payments are adding up along with my budgeted overpayment... Just got to keep focused!!!
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 1st Apr 17, 10:02 AM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    Sold three more items on Ebae last night which means in March I only sold 9 items but I only started selling again half way though the month. But I've made approx £20 after all fees have been taken off.

    I currently have 13 items listed and 8 of them already have bids I think I'm going to build enough money in my PayPal to pay for all of DDs swimming until the end of the year and then anything extra will be used to overpay mortgage. There's four more blocks in the year which is a total of £240. I have paid for one block already so I need A total of £180. I'm going to start tracking this from today so I don't lose focus.

    For anyone that sells on Ebae and needs bubble wrap I never pay for mine. In the supermarkets if you go to the produce section 90% of the time there will be bubble wrap protecting the apples and pears and this just goes into the bin. I always get a few sheets when I go.

    The sun is shining so me and DD are going to the park with a packed lunch and hopefully not spend a penny. Currently have £10 left in my weekly spending budget, would be nice not to spend it and put it towards the overpayment however we are planning on going into town tomorrow as the Disney store have a 30th anniversary event on and usually I spend lots on town but we'll see...

    Have a lovely weekend everyone x
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 2nd Apr 17, 9:21 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    £7 underbudget this week so that's an extra £7 I can overpay by!! Had a low spend day today even tho we went into town. Used my free coffee and cake in John Lewis voucher for a sit down too. The sun was shining and I just followed DD While she explored the town (mainly all the toy shops lol) lots of walking so we are both knackered! Too tired to package my Ebae sales from this weekend so aiming to wake up an hour early In the morning to do it.

    Off to bed now as I'm extremely knackered..

    Xxx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • KittyMoma
    • By KittyMoma 4th Apr 17, 2:02 PM
    • 34 Posts
    • 51 Thanks
    KittyMoma
    Sounds like you're on the roll! I have so much clutter to get rid of and am tempted to just chuck em in the bin because I think it's all junk.
    Starting mortgage - £303,434.49
    Dec16 - £257,319 (OP £27,522.92 in 2016)
    Jan17 - OP £5,000 / Feb17 - OP nil / Mar17 - OP £300 / Apr17 - OP £300 / May17 - OP £300 / Jun17 - OP £7,461.01 / Jul17 - OP £500
    • BBH123
    • By BBH123 4th Apr 17, 4:15 PM
    • 336 Posts
    • 435 Thanks
    BBH123
    What is a stooze ?

    Loving the thread
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 4th Apr 17, 5:02 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    Hi both

    KittyMoma - I was tempted to chuck my junk too bit I listed some old tops at 99p and the two that's ended recently sold and I made approx £5 from it. So better than throwing it in the bin! Also found some old charity badges and I made £6 from that aswell. I will be updating my total every month

    BBH - stoozing is where people take advantage if 0% credit cards. I buy everything I normally would on my CC and I pay 0% interest for 23 months then I keep the cash in a savings account earning interest. Then when the 0% is over you pay the money back and start again. Some people do balance transfers aswell.

    Found some real bargains in a bargain shop lately.. lots of brands 3 for £1!!! So stocked up on a few things ... and managed to get to a supermarket on time for some reduced meat and fish too yay! So I'm off to cook a lovely Fish Pie now
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • BBH123
    • By BBH123 5th Apr 17, 7:57 AM
    • 336 Posts
    • 435 Thanks
    BBH123
    Ahh thankyou, wow that must take some discipline, i'd be using the CC and then spending the cash because I'd feel rich lol
    • ch4rly2002
    • By ch4rly2002 5th Apr 17, 10:48 AM
    • 194 Posts
    • 825 Thanks
    ch4rly2002
    Morning DSM, Just started reading your diary, sounds great so far. Thanks for the tip about bubble wrap! I've subscribed and look forward to reading about your journey.
    Savings: Aim £10k. Dec 2016 £1,700 / Current £9,825
    Mortgage: Dec 2014 -£216,000 / Current -£197,300
    BTL Mortgage: Dec 2014 -£136,000/ Current -£125,800
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£35,655.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    CC 0%: Nov 2016 -£4,500 / Current -£3,613.77
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 5th Apr 17, 9:41 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    So I did something really stupid yesterday evening... but it was meant to be saving me money (and still will I hope)

    So I was watching last week's ML money show on demand and decided to check my energy bills again to see if I can make any savings... so I did the usual thing of checking all comparison websites and ML ENERGY club and top cashback and after a few hours decided I would use top cashback to take me to USwitch (earning me £30 For a duel fuel swtich) and an energy tariff that would save me approx £100 a year... a fixed tariff too with no early exit fee... (anyone know if i can switch and fix again after cashback has tracked as there is no fee??)

    Anyway it all sounds good and the calculations on all websites are showing I will save approx £100 and earn £30 cashback. So I go ahead to top cashback, then to USwitch, which I then select the company and tarrif i decided was the best and fill in the details again and ìt was complete... yay!!!. Great I thought... until I got my confirmation email and I realised I had typed my address in wrong (I felt so stupid... lol) typed a 5 Instead of a 6...

    I did type my supply number (or whatever it's called that's linked to my meter) in correctly so hopefully it will be just a simple phone call to amend the address...

    No idea what the real saving is or how accurate the comparison sites are for energy but I will get £30 cashback if it all tracks ok...

    So apart from my silly silly mistake any advice about

    1. switching again (to get more cashback) once my cashback has been paid as there is no early exit fee?

    2. Should I keep my budgets the same for now for my gas and electricity and when I get my bill in a few months time see if I have saved money (hopefully). And any money I have saved I can overpay the mortgage or should I amend my budgets now to the new lower direct debit and hope I stay in credit?

    Xxx
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • ch4rly2002
    • By ch4rly2002 6th Apr 17, 9:56 AM
    • 194 Posts
    • 825 Thanks
    ch4rly2002
    I'm sure they will be able to amend the number with a quick call so I wouldn't worry about that too much. I've found that cashback with utilities and insurance seem to take longer, 3 months sometimes, I guess to safeguard them from people getting cashback and cancelling. TCB allows you to see how long the average payout time is. I've just checked Uswitch and it is showing as 6 weeks and 2 days as the average payout time, so it looks like it's one of the quicker payers. There is nothing to say how long you have to stay with a supplier so I would say that once it is paid out you'd be fine to do whatever you want.
    Savings: Aim £10k. Dec 2016 £1,700 / Current £9,825
    Mortgage: Dec 2014 -£216,000 / Current -£197,300
    BTL Mortgage: Dec 2014 -£136,000/ Current -£125,800
    Loan to In-Laws: Sep 2010 -£48,185.82 / Current -£35,655.49
    Student Loan: March 2011 -£18,275.04 / 29th April 2017 -£14,003.85
    CC 0%: Nov 2016 -£4,500 / Current -£3,613.77
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 6th Apr 17, 4:04 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    I think U switch is a faster paying company. So hopefully it'll come through quickly and I can switch and fix again... Will have to read the tariff t&c first to make sure but there's def no early exit fee which is one of the reasons why I chose it.

    0% interest and 0% fee Balance transfer card applied for and successful so I will be transferring my m&s stoozed money (0% ends in June) also went through TCB again so if that tracks fine I will have another £30 cashback and another 13 month of interest free credit. I wasn't given the full 26 months or a balance high enough to transfer the full balance but ive got another 13 months at 0% so cant complain. The stooze pot is growing

    Bargains of the day. Found some cheap pampers nappies because they were discontinued so purchased them for my sister where she will transfer the money back to me however I've benefited from increasing my stoozed pot and earning the loyalty points from the purchase its only the equivalent of 36p but every little helps! I tend to purchase things for her quite often and gain the points!

    Also went to my bank to make sure all my DD and SO are all set up correctly for the minimum payments on CC and the monthly saver account so I won't incur fees and earn maximum interest. No need to review that for another 12 months.

    The weekend is going to be an expensive one as I've agreed to take my DD to the Cinema with her friend but we are going to buy a family ticket (which I still think is expensive lol) so at least we'll be making some sort of saving there.

    8 ebae listings ending tonight so fingers crossed they all sell !!!

    I also reread my whole thread and I apologize for any spelling mistakes ... autocorrect is not my friend apparently lol
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
    • jules81
    • By jules81 7th Apr 17, 1:47 PM
    • 36 Posts
    • 221 Thanks
    jules81
    Hey hun found your diary-you are doing great

    Have a nice time at the cinema xxxx
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 7th Apr 17, 9:37 PM
    • 153 Posts
    • 627 Thanks
    DeterminedSingleMummy
    Hey Jules

    I've already stocked up on cinema snacks. Wilk0s has half price pick and mix cups for Easter so I got one of those and some half price popcorn. That should keep DD happy!

    7 out of my 8 items sold and they were the items I listed at 50% off Fee and have made approx £35 I think. All the the items were just things I had lying around the house that I no longer need or want!

    Another 9 things listed, I've relisted the item that didn't sell aswell because previously I've listed things 3 or 4 times before they've sold...

    Found some really cheap wiper blades £1.30 instead of £16 but I have no idea if they fit my car so I've bought two difference sizes hoping that at least one will fit and return the other... Fingers crossed!!

    Also I have been wanting to purchase a specific item for ages however I could not find a voucher code, cashback or any sort of discount on the internet or in the shops. And I hate purchasing items for full price... so I emailed the company today and they've given me a 30% discount code to order off their website yay!! Their prices are the same everywhere that stocks the item and i get a 2 year guarantee rather than one Don't ask don't get!!

    Hope everyone is enjoying the sunshine we've been having!! Have a good weekend!
    Balance at start of mortgage Dec 2011 £87500
    1 Jan 2015 = £73,735 Overpayments = £3,360 (average £280 p/m)
    1 Jan 2016 = £66,558 Overpayments = £4,770 (average £397.50 p/m)
    1 Jan 2017 = £57,756 Overpayments so far Jan £0 Feb £550 Mar £3022 April £690 May £1513 total £5775
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