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  • FIRST POST
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 11th Mar 17, 11:56 PM
    • 54Posts
    • 183Thanks
    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 4
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 20th Apr 17, 5:55 PM
    • 54 Posts
    • 183 Thanks
    DeterminedSingleMummy
    Hey pollyanna - I never budgeted for DD swimming because she started this after I started overpaying and it motivated me to get stuff on ebae so I guess it gives me that extra push to find extra money.

    Cheap and cheerful days out are great. Her fave is playland at Ikea which is free so keeps us both happy. I'm also lucky that we have lovely lakes and parks to walk around which we do regularly too.

    I've been stoozing for 3 years now and I've not had any problems.

    I have used

    1.santander - 0% finished so I closed the account. But last month i got a new CC with them at 0% with a higher limit than the previous card
    2. Tesco - 0% finished but I keep this card to earn points
    3. Barclaycard - 0% finished but not closed this card as they send regular 0% offers. Have stoozed twice on this card. Very high limit too
    4 halifax. Declined me a few years ago but Accepted me for a 0% fee free Balance transfer which has gone through this month (with topcashback too)
    5. M and s - 0% ends in June. Balance transferred to halifax so I will be closing this account.
    6. TSB - 0% finishes in Nov and I will be closing the card once balance transfered or card paid off.

    I havnt applied for more than one credit card with the same bank. If I don't get accepted for Balance transfer i will pay off the card and then start stoozing again on a new 0% purchase card. Not really sure how banks decide who to give cards to at what limits. I just apply and hope for the best lol

    With broken things on ebae people bid on them because they might be able to fix it or need it for spares or parts so definately list those broken items as long as you are clear they are broken.

    I have no idea about subscribing to threads. I just remember which ones I've been reading and click on them when I see them (pretty much a newbie at this forum)
    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 total £4262
    • debtfreeoneday
    • By debtfreeoneday 21st Apr 17, 7:00 AM
    • 2,646 Posts
    • 8,855 Thanks
    debtfreeoneday
    I wouldn't trust myself with stoozing, well done for doing so well!
    DFW (08/08) £64,346.53
    CC1 - GONE! ~~~ CC2 - GONE! ~~~ CC3 - £1564.49
    MFW (01/15) £118,031.21 £99,798.02
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 21st Apr 17, 8:03 PM
    • 54 Posts
    • 183 Thanks
    DeterminedSingleMummy
    It has taken a lot of discipline to not spend the stooze pot but now the money goes straight Into monthly savers earning the max interest it can plus it runs perfectly with the length of 0% card so has worked out well this time.

    So ebae update total for April is £84.44. I have listed another 10 items today and they will all end before the end of the month! That's a total of 33 items active currently!! I don't expect them all to sell but fingers crossed. One of the items I've relisted three times has just got a bid on

    A NO spend day today which wasn't planned but quite happy about. Nothing planned for the weekend either so can hopefully be under budget for my weekly spending so that can go towards more overpayments
    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 total £4262
    • pollyanna24
    • By pollyanna24 21st Apr 17, 9:36 PM
    • 3,601 Posts
    • 4,144 Thanks
    pollyanna24
    I shall have a root around and have a look at what I can eBay. Just bought new bikes for the girls off eBay and will collect them this weekend while they are at their dads. They cost £51 for the two of them, so not bad going. And I shall now stick their little bikes on eBay to try and recoup some of the costs.

    There aren't many Ikeas around, or are there and I just don't know about it? Never thought about going for the free play.

    My bargain of the day was a Paw Patrol jumper for my littler one from Primarni. £3. Bargain!
    Pink Sproglettes born 2008 and 2010
    House Worth (approx) - £375,000
    Mortgages (4th April 2017) - £185,086.10
    Equity - £189,913.90
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 22nd Apr 17, 6:59 PM
    • 54 Posts
    • 183 Thanks
    DeterminedSingleMummy
    No spend day today! Which is great. Altho feeling a bit today for some reason. If I manage another no spend day tomorrow there will be another £12 towards overpaying. Nothing planned so could be a cheap or expensive day. Will see how I feel tomorrow and what DD wants to do.
    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 total £4262
    • DeterminedSingleMummy
    • By DeterminedSingleMummy 23rd Apr 17, 6:26 PM
    • 54 Posts
    • 183 Thanks
    DeterminedSingleMummy
    Didn't go anywhere today, still feeling so wasn't in the mood for getting dressed at all. Which means no spend day and another £12 towards the overpayment.

    Did some baking with DD so she was kept entertained. We also tidied and sorted about 1/4 of her toys and managed to throw a lot of stuff out. Also rediscovering old toys which are apparently her favourite even tho she hasn't played with them for months lol

    Been doing a lot of thinking about overpayments and everything. And would have decided I'd like to start allocating some money towards DDs future and I've worked out how much I'd like to save and keep in a bank account her for separately so I think I'm going to add that Into my budgets next year but that means my overpayment amount will go down unless my income goes up.

    Swimming and after school activities i will also budget for but she doesn't start school until September so I wont know what's what until then.

    Just looked at the prices for Disneyland again and the price has gone up (compared to when I went last year) which I expected it to but the holiday package has been reduced so to get the same holiday I booked last year and the year before it will be a lot more expensive... not really sure if we will go again to try something different and cheaper. Plus she'll be in school and im not sure what the schools policy is about missing a few days.

    50% off fees on Ebae again for three days. Annoyed that I've just listed 10 items a few days ago. Never mind. Hopefully will be able to find some random stuff to list to take advantage of the 50% off fees offer... currently 33 items active. 4 have bids on.

    Hope everyone has had a good weekend... 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 total £4262
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