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    • squirrelgirl
    • By squirrelgirl 12th Mar 17, 3:44 PM
    • 100Posts
    • 392Thanks
    squirrelgirl
    Squirrelgirls MF quest
    • #1
    • 12th Mar 17, 3:44 PM
    Squirrelgirls MF quest 12th Mar 17 at 3:44 PM
    I am venturing into the MF Wannabe world!!

    I have recently come to the end of my mortgage deal and have got a new one which runs to the 31st March 2019. My plan is to clear my mortgage on 1st April 2019

    I have an offset mortgage, so I can spend between now and then either paying off the capital or putting the extras into the offset savings - knowing me, it will probably be a combo of both as I really like seeing the figure I owe drop (it's a psychological thing!! ) until I get close to the end, then it will have to go into the savings so that I don't accidently pay it of too soon and end up with early repayment charges

    My mortgage is actually due to finish in 2024 - and although I have paid a considerable sum off over the past 5 years or so, I haven't made any op's for about 2 years as I took a break from work. I have several things that I need to sort financially between now and the end of November, so my bigger op's won't start till then, but I am going to make every effort to put at least £50 extra per month towards it until then.

    My ability to save money on food and household products is limited as I don't use supermarkets and buy everything as ethically as possible - this means that I am going to have to be creative and stretch what I have as far as possible I do have a massive stockpile of dried goods and a freezer full of stuff so I am going to be able to minimise my spends over the next month or so.

    I will go over my 'bills' budget too and see where I can make savings - I currently overestimate everything bill wise and can probably reduce the amount we put in by at least £10 - once I have checked out what is in there, I will tilly-tidy the surplus and make a start!

    I am reasonably confident that I will be getting a very small pay rise in April and hopeful that dh will too, so am intending to put that towards the mortgage - we have a persie amount each which is adequate for now so I'm happy to utilise any increases we have for op's.

    Right, off to check out the bill account and see what I can do!
    MFW £3031.96/£22968.96
Page 1
    • squirrelgirl
    • By squirrelgirl 12th Mar 17, 4:25 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    • #2
    • 12th Mar 17, 4:25 PM
    • #2
    • 12th Mar 17, 4:25 PM
    Checked the account - first £10 op made!!

    I've added my mortgage to my sig - it's actually the full figure (including interest) that I will need to pay before 1st April 2019
    Last edited by squirrelgirl; 12-03-2017 at 4:28 PM.
    MFW £3031.96/£22968.96
    • AsgardFI
    • By AsgardFI 12th Mar 17, 4:34 PM
    • 6 Posts
    • 7 Thanks
    AsgardFI
    • #3
    • 12th Mar 17, 4:34 PM
    • #3
    • 12th Mar 17, 4:34 PM
    You sound very motivated in your MFW quest, I am sure if you keep up that attitude, you will have no problem.
    Pursuing Financial Independence each and every day...

    Debt/Mortgage Free - 2014 // Side Hussle - 2014 // 50% + Savings rate - 2015 // Bare bones FI - 2017 Jan // Current spending FI - Prediction 2022 // Target spending FI - Prediction 2025
    • squirrelgirl
    • By squirrelgirl 12th Mar 17, 5:02 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    • #4
    • 12th Mar 17, 5:02 PM
    • #4
    • 12th Mar 17, 5:02 PM
    Thanks AsgardFI

    Its not going to be easy due to my lifestyle but I am totally determined to do it!
    MFW £3031.96/£22968.96
    • EatingTheElephant
    • By EatingTheElephant 13th Mar 17, 6:34 AM
    • 1,099 Posts
    • 5,934 Thanks
    EatingTheElephant
    • #5
    • 13th Mar 17, 6:34 AM
    • #5
    • 13th Mar 17, 6:34 AM
    Well done on your first OP, it can get addictive!
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 13th Mar 17, 11:47 AM
    • 570 Posts
    • 2,527 Thanks
    SuperSecretSquirrel
    • #6
    • 13th Mar 17, 11:47 AM
    • #6
    • 13th Mar 17, 11:47 AM
    Hi squirrelgirl

    Nice mortgage balance, and nice target - that's just under 1k a month to aim for. I will be cheering you on

    Since it's a relatively short term target for you to become mortgage free, any thoughts as to what comes next?
    Mortgage [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £17,182.66
    MN [2013-£25k|2014-£2k|2015+£16k|2016+£34k] +£45,783.87 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £258,813.46 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 16.5%
    • squirrelgirl
    • By squirrelgirl 18th Mar 17, 10:05 AM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    • #7
    • 18th Mar 17, 10:05 AM
    Long post alert!!
    • #7
    • 18th Mar 17, 10:05 AM
    Thanks ETE I'm gong to check my balances again today to see if I can put in anything further so I think you're right!!

    SSS, I think that I will travel more and I also want to be able to do work on the house and finally live in a more 'grown-up' environment!

    Once the mortgage has gone, I'll set up travel and house funds.

    We have had responsibilities for dogs and kids for decades; dogs are now gone and children grown. I will be able to travel whenever it suits me (I'm thinking last minute deals ) and have things around me that are chosen on how I feel about them rather than whether I can fit the dogs on them/will it withstand the kids!!

    We have a 'bucket list' of places we want to visit and things we want to see, so they will be my destinations of choice Some places are close enough for a weekend break, others are going to be a three-week adventure....

    We also know what we want for the house - it really needs a bit of an overhaul
    I need to sort the roof; I want to replace the ceilings; get the walls re-plastered; get a new bathroom; replace the boiler/heating system; re-carpet and re-decorate throughout and replace many household items such as beds, wardrobes etc. We haven't replaced any furniture in about ten years and the quality of the stuff we have has always been dependent on what we could afford at the time - when I move things, they will probably collapse and die, so it makes sense to factor them into the things that we need!!

    I must admit that I am becoming more excited about becoming MF its going to be hard over the next couple of months as I have other things that I need to do before I can really throw everything at it....November will be my first substantial payment but I am definitely going to achieve this though so I am going to do whatever I can to get it sorted.

    I am going to pay a minimum of £50 a month off the capital and if I can manage anymore than that before November, I will put that in the offset account so that we have access to it but it reduces the interest.

    I want the point that the capital and offset are the same figure to get here asap
    MFW £3031.96/£22968.96
    • Freddykrueger69
    • By Freddykrueger69 18th Mar 17, 11:41 AM
    • 17 Posts
    • 37 Thanks
    Freddykrueger69
    • #8
    • 18th Mar 17, 11:41 AM
    • #8
    • 18th Mar 17, 11:41 AM
    I am similar in that I want to get to the position where my offset savings balance equals the mortgage outstanding. I have a lot further to go than your good self but hoping to keep the motivation going without having to resort to beans and toast every night
    • squirrelgirl
    • By squirrelgirl 18th Mar 17, 12:24 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    • #9
    • 18th Mar 17, 12:24 PM
    • #9
    • 18th Mar 17, 12:24 PM
    Looked at the budgets - made a £30 op (ETA - just added another £10 from my 'persie' account so that's my march - £50 first month target reached )

    I'm off next week so intend to do some batch cooking and menu planning hopefully, not too many beans on toast days (although I love them now and again!)
    Last edited by squirrelgirl; 18-03-2017 at 12:45 PM. Reason: added to op
    MFW £3031.96/£22968.96
    • Secret Saving Squirrel
    • By Secret Saving Squirrel 18th Mar 17, 6:08 PM
    • 3,865 Posts
    • 35,833 Thanks
    Secret Saving Squirrel
    Very good luck to you from another squirrel !
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years
    • squirrelgirl
    • By squirrelgirl 19th Mar 17, 10:47 AM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    hi secret thanks for dropping by
    I am hopefully going to get the greenhouse sorted today - it's pretty windy though and I need to replace the glass that we lost so I may have to see how it goes I will have to re-pot my seedlings though, regardless of what happens weather-wise... a few purple sprouting broccoli, a couple of cauliflower, a Brussel sprouts, an aubergine and a few tomato plants have all done well so they need to be potted on I will also start the leaves, the red basil and the oregano today - it will end up saving me a fortune on herbs and salad

    I have cancelled one of my charity donations today - it was one that I agreed to do for a couple of months and I have done 6 months of it now so I don't feel too bad about it; ultimately, reducing my mortgage is more important to me at the moment (particularly as I have discovered that the chief exec of this charity is on a six figure salary!! I know that they have to get the best people for the job, but it seems excessive to me....)

    I'm looking forward to the week ahead - mainly because I get to spend most of the week with my new grandbaby and I get paid this week so will clear my cc again I put half of the car costs onto the card and paid the other half cash last month - I don't like having a balance on my cc now though

    I'm going to check out the spare room and see what needs doing to my wine while I am there - it will save me a fortune in the summer if I have them bottled and ready to go I also have a mountain of books that I need to get rid of...does anyone know any decent companies that will buy them from me? I know I won't get much but every penny counts on my mission!!

    I have got a duck out of the freezer for the boys (although I am vegan, the rest of the household is not so I still have corpse in the freezer to get rid of) which should feed them for the next few days along with some of the super 6 stuff I bought at A*di yesterday - oranges, purple sprouting broccoli, kale and some spring onions. I also got some potatoes so will do some mash with it....tomorrow they can have Chinese pancakes and the most of the remaining duck and then I will put the rest in sushi on Tuesday. I'll have the veg in a warm salad tonight with some quinoa and puy lentils, some hoisin jackfruit and Chinese pancakes tomorrow and avocado sushi for Tuesday. I will have to buy the avocado but other than that, it's all from the store cupboard/fridge

    It's all about saving the pennies
    MFW £3031.96/£22968.96
    • greent
    • By greent 19th Mar 17, 1:17 PM
    • 6,193 Posts
    • 62,685 Thanks
    greent
    Re: books (and CDs/ DVDs/ games) - try ziffit or music magpie. Cashback through tcb or quidco also available, bringing up the total a bit. Download the app to your phone and scan in - much quicker. Also when you have the rejected pile of books from one, try scanning them for the other

    Not usually masses of money - but better than nothing and gets rid of a load I one go - and you don't pay postage so all money is back to you
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next: BTL Mtge 12/16 £69786. 2017 OPs (#18) £4151/£3286
    Net sales 2017 £1152.39/£500 PAYDOX17 £11333/£10k Decluttered 1515/2017 items
    • squirrelgirl
    • By squirrelgirl 23rd Mar 17, 5:46 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    Re: books (and CDs/ DVDs/ games) - try ziffit or music magpie. Cashback through tcb or quidco also available, bringing up the total a bit. Download the app to your phone and scan in - much quicker. Also when you have the rejected pile of books from one, try scanning them for the other

    Not usually masses of money - but better than nothing and gets rid of a load I one go - and you don't pay postage so all money is back to you
    Originally posted by greent
    Thanks for that greent!!

    I will do that over the next few days - there are a lot of books and it's time that I let them go and get some additional space in my house

    I have paid off a lot of the cc today but have also met a large expense for my grandbaby so it's not totally clear however, I will pay the remainder off next month so I'm not going to get too wound up about it

    I am looking forward to keeping a really close eye on things in April - the MOT is looking as if it may be reasonable so that will free up more cash which I am going to split between the cc and the mortgage op - it's not a huge amount of money as there is a bit of work to do, but it will all help

    The greenhouse is sorted and the seedlings planted on now - the leaves went in too so I'm happy with my progress there I do love home grown food - and because I usually buy organic when possible, it saves me quite a bit of money growing my own.

    I have the beginnings of a menu plan but I need to do a bit more work on it. I am going to change my diet a bit for the next month or so; I need to eat more healthily and regularly - I eat well when I can be bothered but I still eat a lot of rubbish as snacks. I'm going to concentrate on my health for a while and my diet is the first thing I needed to look at - I can use a lot of things that I have in stock anyway so it's still going to be cheap to do. So, food is pretty much sorted - exercise next! All exercise has to be done at home - I'm not prepared to pay for classes as that can be additional mortgage money!

    I'm hopefully going to be able to clear the cc and order the new sofas and carpet for the front room by the end of April - that will mean I will be able to add a bit more to the op fund from May onwards....fingers crossed!
    MFW £3031.96/£22968.96
    • squirrelgirl
    • By squirrelgirl 2nd Sep 17, 3:25 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    Wow, its been a long time since I have been on here!!

    Things are going well and I have made an op today which has taken the mortgage is down to just under20k (literally... it's £13 under )

    Naturally, I'm really happy about that but I'm even happier that from the end of October, I'll be able to make some serious in roads again and that the plans all worked out!!

    We have a couple of things yet to obtain but they are all factored in and the cash is ready for them, we are both on board with getting rid of it and unless something really drastic happens, we should be mortgage free as of 1st April 2019 (unless I get itchy feet and do something stupid and pay the early re-payment fee!!! )

    I need to spend more time on the boards though - the ease with which I lose focus is quite disturbing despite the successes; I know that all of this could have come a lot quicker had I have stuck to the plans reasonably well....as it is, I have mostly been very lax over the past year and it's time to get back on the MFW wagon properly... I'm looking forward to it though - I like to see the figures reduce and seeing the difference every penny makes
    MFW £3031.96/£22968.96
    • Betterthanever
    • By Betterthanever 2nd Sep 17, 7:57 PM
    • 175 Posts
    • 608 Thanks
    Betterthanever
    Welcome back on board the wagon.....there seems to be enough seats for us all! I'm excited to hear your bucket list plans....we are away here making ours too!
    Former DFW Need 230. Determined to be MF.
    Current balance £116,878.11. Offset £1034.
    end date - 03/29 aiming for 10/22

    Bring it on!
    • squirrelgirl
    • By squirrelgirl 3rd Sep 17, 11:39 AM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    Thanks BTE

    My bucket list includes visiting specific places in Brazil, Venezuela and Chile plus an opera tour of Italy, a stay in the Ice Hotel to see the Northern Lights and a weekend looking at Gaudi's buildings in Barcelona It's definitely enough to keep me motivated as the first one could be as little as 18 months away!! We do have a trip to Borneo too next year but that's a birthday/anniversary trip as we have been there before!

    I'm having my final slob day today - dh has just gone to the shop to buy some soya milk as I have run out of beans (annoyed about this as I was at the local health food shop last week ) and then we will spend the rest of the day just watching dvds and pottering
    I was going to do my food inventory today but I think that I will wait until during the week when I won't get the temptation to cook loads of stuff that will end up in the freezer

    I'm looking forward to looking at my mortgage balance tomorrow - the op I made won't show until then and I really want to see a 1 at the beginning of the figure!! I need to work out what should be in the bill account so that I know if I can do a shift of additional funds to the mortgage - I haven't really looked at the account since it became the bill account as we just put the cash in and the dd's come out but I think that we may have a few extra quid that could be transferred

    I have put my expenses in at work so they should add a little bit of spare cash to the mortgage. I also have a lot of furniture that I need to get rid of - I'm reluctant to put it up for sale as I really don't want people round my house so intended to give it to a charity that I support but I'm really conflicted now because of the extra cash it could generate. I think I need to make a decision soon though as it's driving me nuts having it around when we don't need it anymore. I am definitely going to have it gone by the end of October though, whatever I decide!

    Right, dh should be back soon so I shall go and put the kettle on and pick the first DVD of the day! Have a great rest of weekend
    MFW £3031.96/£22968.96
    • squirrelgirl
    • By squirrelgirl 3rd Sep 17, 9:34 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    A late but quick post to update on my plan....I am going to stop drinking latte this month at work and take in my teabags to use instead I'll take enough for tomorrow as it's a really early start for me and I need the caffine Tuesday onwards though, no more buying anymore for the month...saves on my lack of soya bean problem too!
    I'm going to throw everything I can at the mortgage for the rest of the year and see how far I can get ...I am looking forward to this!
    MFW £3031.96/£22968.96
    • Betterthanever
    • By Betterthanever 3rd Sep 17, 9:55 PM
    • 175 Posts
    • 608 Thanks
    Betterthanever
    Good luck! I'm a coffee addict, so it's always the very last thing I'd consider giving up!
    Former DFW Need 230. Determined to be MF.
    Current balance £116,878.11. Offset £1034.
    end date - 03/29 aiming for 10/22

    Bring it on!
    • Downshifterella
    • By Downshifterella 3rd Sep 17, 11:22 PM
    • 51 Posts
    • 257 Thanks
    Downshifterella
    Oooo good luck on giving up the coffees, in fact mind if I join you? It's a bad habit I've got into the past couple of years ( well not "bad" but "daily/expensive"!) . Taking teabags will save I reckon £7 + a week!

    Wow to having a mortgage with a 1 at the beginning-enjoy!! Love your travel list too, some amazing places there!

    Ella X
    MF planning for the simple life
    • squirrelgirl
    • By squirrelgirl 4th Sep 17, 4:07 PM
    • 100 Posts
    • 392 Thanks
    squirrelgirl
    Oooo good luck on giving up the coffees, in fact mind if I join you? It's a bad habit I've got into the past couple of years ( well not "bad" but "daily/expensive"!) . Taking teabags will save I reckon £7 + a week!

    Wow to having a mortgage with a 1 at the beginning-enjoy!! Love your travel list too, some amazing places there!

    Ella X
    Originally posted by Downshifterella
    More than happy to have the company!! I have enough soya milk at work to last tomorrow so the first day of tea will be Wednesday (and the first day of murdering people is Thursday!!

    I've checked the mortgage balance and I have a five figure sum which begins with a 1

    Dh and I have decided to throw as much as possible at the mortgage as soon as we can and we will re-adjust as we go along to avoid early repayment charges. It's bizarre being in a situation where I have to be conscious of what I am overpaying so that I don't finish it too soon!! It's lovely though!!

    Ds has given me what he owes me for rent so that's another £50 to the mortgage which I have just transferred....not much but I'm sticking everything I can on it!
    MFW £3031.96/£22968.96
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