Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • pinkypig
    • By pinkypig 22nd Jul 17, 6:12 PM
    • 746Posts
    • 6,474Thanks
    pinkypig
    And so it begins: The Pig Vs The Mortgage
    • #1
    • 22nd Jul 17, 6:12 PM
    And so it begins: The Pig Vs The Mortgage 22nd Jul 17 at 6:12 PM
    Hi everyone, after literally years of lurking I'd very much like to join you if I may? Having been truly inspired by the commitment and achievements of Secret Saving Squirrel,Tilly and Museumworker I'm finally convinced that the best way of remaining motivated and on task is to keep a diary. I'm hoping that regular reporting will lead to increased levels of accountability and reduced levels of excuse making
    To provide a little background there's me and two piglets. I work fulltime in a job that I enjoy but which is becoming increasingly demanding in terms of time and energy. Consequently,I want to achieve financial freedom within 7 years. I aim to do this through a combination of increased voluntary pension contributions and overpayments on my mortgage.
    I find discussing these things in RL a little uncomfortable as most of my peers don't really get where I'm coming from. The perception seems to be that to live thriftily is to endure a miserable existence and living a full life involves endless spendy hobbies and events. I know the folks on here are kindred spirits so I'm hoping for a place to celebrate success and to off load anxieties as I embark on my slightly scary but rather liberating journey to freedom
    Last edited by pinkypig; 22-07-2017 at 6:22 PM.
Page 2
    • bexster1975
    • By bexster1975 24th Jul 17, 9:34 AM
    • 1,065 Posts
    • 4,897 Thanks
    bexster1975
    Hi pinky

    I don't have a diary. I have lurked/contributed to many others. MFW diary no longer needed here. Just here to help/encourage. Will go back and read you SOA

    Bexster
    • bexster1975
    • By bexster1975 24th Jul 17, 9:45 AM
    • 1,065 Posts
    • 4,897 Thanks
    bexster1975
    Hello again

    Your SOA looks very reasonable. I don't know how many of you there are ( or I've forgotten from OP!) or how many cars you run. Nothing jumps out as ridiculous to me tho ( well, maybe the mortgage- but what can you do!) I think half and half re: pension/overpaying is a great idea. I'm afraid I'm not a big pension fan. I see the tax/financial incentive, but the locked away until 55 min. is a huge disadvantage. I'm am reconsidering my current pension position as I'm about to become a 40% tax payer and at this point not contributing to my current work pension is more than foolish. I invest in S and S ISAs quite heavily now, as I do not want to have al my cash stuck if I'm in need. The freedom of no mortgage was my main motivation. All other bills can be trimmed to some extent once mortgage is gone, so you are more able to use your money the way you choose ( or work less if that's your choice). Good luck today sorting your bills.

    Bexster
    • pinkypig
    • By pinkypig 25th Jul 17, 8:25 AM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    Looks like a very sensible head/heart compromise. To me PP.
    yellow stickers all the way.
    When we were at uni one of our friends worked for mr Sparks, their staff shop is awesome, we ate like kings on a pauper's budget on an evening after she'd finished her shift.

    Have a great mse day
    Originally posted by wishingthemortgaheaway
    Its amazing what you can save isn't it? I don't do it that often but if I have to go for one thing I try and time it for about 7.30 which is when the real bargains can turn up

    Hello again

    Your SOA looks very reasonable. I don't know how many of you there are ( or I've forgotten from OP!) or how many cars you run. Nothing jumps out as ridiculous to me tho ( well, maybe the mortgage- but what can you do!) I think half and half re: pension/overpaying is a great idea. I'm afraid I'm not a big pension fan. I see the tax/financial incentive, but the locked away until 55 min. is a huge disadvantage. I'm am reconsidering my current pension position as I'm about to become a 40% tax payer and at this point not contributing to my current work pension is more than foolish. I invest in S and S ISAs quite heavily now, as I do not want to have al my cash stuck if I'm in need. The freedom of no mortgage was my main motivation. All other bills can be trimmed to some extent once mortgage is gone, so you are more able to use your money the way you choose ( or work less if that's your choice). Good luck today sorting your bills.

    Bexster
    Originally posted by bexster1975
    Thanks so much for taking the time to reply
    There are three of us and I have one economical car as I do have quite a long drive to work and this helps to keep down my petrol costs.
    You're right about the mortgage - love my new 10 year term but the repayments are certainlyThe pension/OP question is a really tricky one and after endless deliberation I'm still dithering in the middle! I'm not usually that flaky but I'm honestly not sure what's best and I really don't want to make a silly,costly mistake. Luckily for me I'm not too far from 55 so my pension fund won't be locked away for long ( if I keep repeating how 'lucky I am then I might start believing it).

    My current thoughts are meandering around OP options. A bit like the pension route when its OP its effectively gone. Although I do have an emergency fund the last few years have taught me to expect the unexpected so I'm currently considering offsetting my overpayments instead which would make me mortgage neutral rather than mortgage free. As I'm unsure I've decided to offset my OP until the end of the year when my thoughts may be clearer.

    So, next steps ;

    Offset a total of £2400 for July and August
    Pay one off bills that are due in August
    Have a frugal holiday
    Celebrate successes however small

    MSE triumphs

    Line dried 3 loads if washing ( and put it away rather than leaving in in the basket for a week - thanks for the tip/kick up the pants museumworker!!)

    Carbonara for dinner using cooking cooking back, basics spaghetti, hm garlic bread and accompanied by ys salad
    Got a pile of ys veg for pence
    £30 eBay sale
    Went for a run - just free exercise for me from now on
    Took my own coffee when out and about
    Leftovers for lunch
    Have written a daily 'to do' list

    Now need to get off my !!!! and tackle said list

    PP x
    • bexster1975
    • By bexster1975 25th Jul 17, 10:21 AM
    • 1,065 Posts
    • 4,897 Thanks
    bexster1975
    Hello pp

    I think off setting is a great idea. I did it for a long time. You can't really lose, most of the time I was earning more in savings interest on the offset than I was paying on my fixed rate mortgage. ( wasn't able to get an actual offset as FD bank need you to earn £50,000 p.a - go figure). It means if you need the cash, it's there. I think some people don't like them as it requires discipline not to dip into it. I never worried about that as I kept it in a separate account and had an additional emergency fund so it would have needed to really hit the fan for me to dip into it.

    Good luck with the list, don't make the holiday too frugal, have a lovely time.

    Bexster
    • pinkypig
    • By pinkypig 25th Jul 17, 9:40 PM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    Hello pp

    I think off setting is a great idea. I did it for a long time. You can't really lose, most of the time I was earning more in savings interest on the offset than I was paying on my fixed rate mortgage. ( wasn't able to get an actual offset as FD bank need you to earn £50,000 p.a - go figure). It means if you need the cash, it's there. I think some people don't like them as it requires discipline not to dip into it. I never worried about that as I kept it in a separate account and had an additional emergency fund so it would have needed to really hit the fan for me to dip into it.

    Good luck with the list, don't make the holiday too frugal, have a lovely time.

    Bexster
    Originally posted by bexster1975
    Thanks Bex, its always nice to get a second opinion, I can sometimes drive myself quite mad with ifs and what ifs.
    You're right that the danger is dipping into the offset pot but I'm generally quite disciplined with things like that. I like to think those that love me would call me focussed (rather than obsessive, pig headed, bonkers etc. )

    I've had a really nice day and having the luxury of time to just potter around at home is something I've thoroughly enjoyed.
    I've made some progress on my list although a few items will have to form part of tomorrow's

    Today's MSE triumphs

    Joined TCB and took out a credit card to grab £47.25 cash back. I'll cancel it once I've banked the money

    Taken the time to look around at landlord's buildings insurance rather than just renewing and then wishing I'd got my act together. Renewal was £232 but got better cover for £142 and I've got £57.25 cash back pending . Feel a bit embarassed that I've clearly been over paying for years.

    Batch cooked all my ys veg into curry, soup and veggie moussaka. I've still got a cabbage to deal with and all I can think of is coleslaw so might do a bit of googling

    Set up my offset stuff so I can OP straight into it from my current account. My mortgage provider has my mortgage and offset saver online so I can easily see any progress (or not!) which I'm hoping will motivate me.

    Had a lovely, long chat with a dear friend who I don't see enough of using my free landline calls

    Went for a run - I'm aiming for three a week plus a decent walk plus 1_other activity as the mental and physical benefits make all the effort (and its a real effort sometimes ) worthwhile.

    Take from home coffee whilst out and about .

    Leftovers for lunch

    Steak pie and hm wedges using leftover pie filling and pastry from the freezer.


    Still to do

    Go through tax return
    Travel insurance
    Clean car
    Check date of dental appointment
    Finish some outstanding admin for work

    Off for a cup of tea whilst watching the last episode of The Loch

    PP x
    • bexster1975
    • By bexster1975 25th Jul 17, 9:44 PM
    • 1,065 Posts
    • 4,897 Thanks
    bexster1975
    Focused - pig-headed, two sides of the same coin!

    I could share some hair raising overpayment stories, at least one of which would put your insurance overpayment in the shade I assure you! Important thing is you are not overpaying anymore. Always worth a quick compare.

    Glad you had a good day

    Bexster
    • shangaijimmy
    • By shangaijimmy 26th Jul 17, 8:47 AM
    • 2,281 Posts
    • 10,597 Thanks
    shangaijimmy
    A few days late but in terms of OP v Pension it go for a 33%/33%/33% approach. 33% to debt (only mortgage for us), 33% to savings (pension currently about 17%, holidays, kids uni etc...) and then 33% to living costs (cars, food, spend etc...).

    Not sure if its the best approach but it works for us at the minute to help balance those OP v pension dilemmas.
    MFW: Turning June 2036 into March 2023... 33//120 Payments Challenge, Diary Reduction £35,448.08
    Aug 2009: £163,051 // Current: £100,551.94 // Avg Daily Interest £4.52
    MFiT-T4 #8 - 56.74% of £41,000
    • Jessy103
    • By Jessy103 26th Jul 17, 11:15 AM
    • 471 Posts
    • 1,984 Thanks
    Jessy103
    Hi PP. Well done on the cashback! I have a suggestion for your cabbage! Have you ever tried Irish Colcannon? I don't have it with bacon because I'm a veggie but I cook some veggie sausages for me and some meat sausages for DH to go with it. https://www.bbcgoodfood.com/recipes/2649/colcannon
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Oct 2017 - £61,990.00
    Overpayment Target for 2017 - £5,000 /£6746.24
    Jan - £873.26 Feb - £185.38 March - £269.07 April - £193.66 May - £467.64 June - £407.79 July - £849.96 August - £255.11 September - £177.22 October - £381.61 November - £50 December - £2635.54
    • museumworker
    • By museumworker 26th Jul 17, 1:33 PM
    • 2,001 Posts
    • 11,352 Thanks
    museumworker
    MW - Hi. I've read all your diaries and think your attitude and your a achievements are amazing. Our current approaches seem somewhat aligned as my current dilemma is the OP or pension contribution one. You can all look forward () to endless ramblings later.

    ... Last week the mortgage was £143,780 on a rate of 5.5% with a 23 year term Now it is £110,608 on a 10 year fixed rate of 2.75 % (offset) with a 10 year term.
    Originally posted by pinkypig
    ALL my diaries?? Wow, if I could give you a special badge for that I would. There must have been a lot of guff in there . Seriously, very glad you got something out of them. With the pension dilemma, I'm not sure of your take home pay and your current tax band. If you are a higher rate tax payer, just think every payment to your pension is worth twice the take home amount, once you take into account tax and national insurance. You can't double your money on your mortgage. Also, if you earn over £50K and are subject to the higher income child benefit charge, increasing your pension contributions so your adjusted net income falls below £50K will remove this charge, meaning more take home money for you.

    Also - if you can get rid of £33k of mortgage debt in a week this may be the shortest MFW diary in history !

    Hi

    Life insurance, CIC and income protection £83

    Food £140
    Originally posted by pinkypig
    Amazed by your food spends - well done! Clearly I need to get myself on the GC board.

    My only thoughts on your SOA were that your life insurance, CIC and income protection costs seem high to me (I'm also v sceptical of income protection as there are always so many clauses) but am sure you've shopped around and I don't know what I'm talking about.
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • museumworker
    • By museumworker 26th Jul 17, 1:42 PM
    • 2,001 Posts
    • 11,352 Thanks
    museumworker
    ...
    You're right about the mortgage - love my new 10 year term but the repayments are certainlyThe pension/OP question is a really tricky one and after endless deliberation I'm still dithering in the middle! I'm not usually that flaky but I'm honestly not sure what's best and I really don't want to make a silly,costly mistake. Luckily for me I'm not too far from 55 so my pension fund won't be locked away for long ( if I keep repeating how 'lucky I am then I might start believing it).

    My current thoughts are meandering around OP options. A bit like the pension route when its OP its effectively gone. Although I do have an emergency fund the last few years have taught me to expect the unexpected so I'm currently considering offsetting my overpayments instead which would make me mortgage neutral rather than mortgage free. As I'm unsure I've decided to offset my OP until the end of the year when my thoughts may be clearer.

    So, next steps ;

    Offset a total of £2400 for July and August
    Pay one off bills that are due in August
    Have a frugal holiday
    Celebrate successes however small

    MSE triumphs

    Line dried 3 loads if washing ( and put it away rather than leaving in in the basket for a week - thanks for the tip/kick up the pants museumworker!!)
    Originally posted by pinkypig
    Especially if you are close to being able to draw on a pension and want to retire early I would seriously consider putting as much into your pension as you can. Your mortgage is a cheap debt in comparison and the sooner you start paying into your pension, the sooner it will start having compound growth.

    Don't be too frugal on holiday Hope you're going somewhere nice.

    Who -- me?? I'm the queen of clean laundry in bags

    Today's MSE triumphs

    Joined TCB and took out a credit card to grab £47.25 cash back. I'll cancel it once I've banked the money
    Originally posted by pinkypig
    Lots of great MSE wins to celebrate on your list - could you let me know which credit card that is please? £47.25 sounds well worth the application process!
    Mortgage 16/03/2011: £190K 01/01/2017: £107,729.65 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
    • pinkypig
    • By pinkypig 27th Jul 17, 6:18 AM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    [QUOTE=shangaijimmy;72892013]A few days late but in terms of OP v Pension it go for a 33%/33%/33% approach. 33% to debt (only mortgage for us), 33% to savings (pension currently about 17%, holidays, kids uni etc...) and then 33% to living costs (cars, food, spend etc...).

    Hi Jimmy, thanks for stopping by. I love your diary
    I think finding finding what works for you and you're is key if your going to sustain your efforts and you are certainly doing that!



    Hi PP. Well done on the cashback! I have a suggestion for your cabbage! Have you ever tried Irish Colcannon? I don't have it with bacon because I'm a veggie but I cook some veggie sausages for me and some meat sausages for DH to go with it. https://www.bbcgoodfood.com/recipes/2649/colcannon
    Originally posted by Jessy103
    Hi Jess and thank you, that looks yummy

    Its so nice to have people popping in, makes me feel better about rambling away to myself

    PP
    • pinkypig
    • By pinkypig 27th Jul 17, 6:43 AM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    Don't know what's gone wrong with the quotes . Hopefully you can find my replies in among them - I can't face starting again !!
    ALL my diaries?? Wow, if I could give you a special badge for that I would. There must have been a lot of guff in there . Seriously, very glad you got something out of them. With the pension dilemma, I'm not sure of your take home pay and your current tax band. If you are a higher rate tax payer, just think every payment to your pension is worth twice the take home amount, once you take into account tax and national insurance. You can't double your money on your mortgage. Also, if you earn over £50K and are subject to the higher income child benefit charge, increasing your pension contributions so your adjusted net income falls below £50K will remove this charge, meaning more take home money for you.

    Thanks so much for taking the time to reply MW. I'm a basic rate tax payer at the moment but I am at the top end and when I add in this year's other earnings I could be so I'll be watching it carefully and will claim any extra tax relief back through self assessment if I need to.

    Also - if you can get rid of £33k of mortgage debt in a week this may be the shortest MFW diary in history !
    Ha, I wish!!!! I had saved for several years before my remortgage so I don't think I'll be seen g numbers like that again


    Amazed by your food spends - well done! Clearly I need to get myself on the GC board.

    My only thoughts on your SOA were that your life insurance, CIC and income protection costs seem high to me (I'm also v sceptical of income protection as there are always so many clauses) but am sure you've shopped around and I don't know what I'm talking about.
    Originally posted by museumworker
    My food spends used to be but I've gradually reduced it thanks to the GC. I'm sometimes over budget but often not by much - it keeps me on the straight and narrow!

    My insurances are a bit high but they as I'm a single parent I do like the peace of mind they give. The LI is actually as cheap as chipsfir the cover it gives as I took it out in my youth
    The CIC policy is one of the old style ones, good coverage and non reviewable premiums so again not bad vfm. The income protection is a big chunk of my spend but it is an own occupation policy with non reviewable premiums and it just helps me to know that we'd be OK if I was unable to work due to illness.

    Especially if you are close to being able to draw on a pension and want to retire early I would seriously consider putting as much into your pension as you can. Your mortgage is a cheap debt in comparison and the sooner you start paying into your pension, the sooner it will start having compound growth.

    This is still my dilemma - more ramblings needed

    Don't be too frugal on holiday Hope you're going somewhere nice.

    We've got a few things planned - a short city break and the off to the sun. I budget £150 a month so everything's paid for and weve got some fun money to spend.
    Who -- me?? I'm the queen of clean laundry in bags



    Lots of great MSE wins to celebrate on your list - could you let me know which credit card that is please? £47.25 sounds well worth the application process!
    Originally posted by museumworker
    It was Tesco. Give it a whirl, it took very little time and tracked really quickly .

    Hope you and you're are enjoying the school hols
    PP x
    • greent
    • By greent 27th Jul 17, 6:57 AM
    • 6,511 Posts
    • 65,693 Thanks
    greent
    It was Tesco. Give it a whirl, it took very little time and tracked really quickly .

    Hope you and you're are enjoying the school hols
    PP x
    Originally posted by pinkypig
    Darn it! Was also v interested in lots of cback for a CC - but hubby and I have already got Tesc0 CC's

    x
    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) £5278/£3286
    Net sales 2017 £1445.57/£500 PAYDOX17 £12239/£10k Decluttered 1870/2017 items
    • pinkypig
    • By pinkypig 27th Jul 17, 7:05 AM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    Yesterday was busy but fun. I managed to go through my tax return and email a few queries to the account so I'll finish that once he replies.
    I now know when I'm going to the dentist but I still haven't cleaned the car or got travel insurance. Realistically this needs to wait until the weekend.
    I taxied kids about to various friends houses and then spent a bit of time cooking as I had friends round for dinner. We get toether once a month for dinner and a catch up and usually go out. This was my first crack at doing it at home and it was great. I did curry, Dahl, saag aloo, rice, hm naan and used some chappatis and chutneys that I got from Approved Foods so it was all within my food budget. They all brought wine and we had a great night and probably saved about £15 each so will definitely be doing that again. There were also loads of left overs so no cooking tonight

    Daily MSE triumphs

    Socialised at home
    Got three Dettol cleaning products so I can claim my free cinema tickets to use when we're on holiday .
    Printed off 2 for 1 attraction and food vouchers for holidays
    Left overseas for lunch.

    Today's goals
    Tidy kitchen and recycle the empties
    Use up leftovers for lunch and dinner and freeze the rest
    Do a bit more work admin - I'm aiming for an hour a day

    Off to get coffee and a glass of water - I fear I may have peaked and it may go downhill from here

    PP x
    • pinkypig
    • By pinkypig 27th Jul 17, 7:05 PM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    Where has today gone?
    Hi greent it was really nice if you to stop by. Hard luck on already snagging a Tesco cc. There were other tcb offers so it still might be worth a look.

    Today I have;

    Been mainly rubbish. Late nights and large quantities of vino don't make for a lively pig! It might have been cheaper and more fun than going out but we drank three times as much and boy I have I paid the price

    Had a NSD ( some benefits to not being able to drag your sorry !!! Off the sofa ).

    Last nights leftovers for lunch and dinner

    99p eBay sale

    Waved DC1 off for a weekend away. Will miss DC but not the mess left trailing in their wake.

    Applied for my free cinema tickets and whilst doing so realised that the products were on 2 for £2 but I'd only got the required 3

    Packaged eBay sale ready for posting

    Tomorrow will be more productive ( although it would be difficult to be less productive).

    PP x
    • pinkypig
    • By pinkypig 28th Jul 17, 8:51 AM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    Woke to wind bent branches and rain lashing the window - it must be nearly August
    Its also pay day
    Having had an early night and a lie in I feel much more livelier than I did yesterday
    Today's goals are ;

    Sort out travel in insurance using tcb if possible
    Buy and collect train tickets
    Laundry
    Go for a run
    Post eBay package
    Work out exact OS payments made in July
    Detail one off payments needed for bills arriving in Aug so I can do an accurate account shuffle on the 31st
    Visit mum and dad
    Find a notebook to jot down things to do/small success. I get on here and I can't remember half of them!

    Off to find my wellies and waterproofs

    PPx
    • pinkypig
    • By pinkypig 28th Jul 17, 11:05 PM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    A more productive day
    Its been a weird weather day , sunny one minute and torrential rain the next. I actually used the Met office weather app which was useful for shower dodging to get outdoor stuff done. Shame I hadn't thought about that before ,years before...

    Successes

    I have travel insurance, very reasonable thanks to Martin and £1.06 from tcb

    Train tickets ordered but still to collect. 2for1 vouchers downloaded but need printing

    Finalised amount for large August bills and set aside

    July's ops checked

    August's budgets checked and timing of dds and income checked so I know what I can op and when

    Notebook found and used

    Laundry done and line dried during rain free spell this pm ( jeans on airer as they are a bit damp) still to iron and put away

    Mum and dad out so phoned later instead . will call in tomorrow

    Another eBay sale - £1.20. Two items packed and posted.

    Went for a run - accountability guilt got me out of the door. This forum clearly isn't just going to help my finances

    Tesco/Dettol voucher codes for cinema tickets arrived. Will use to see Planet of the Apes when we are away

    Leftover saag aloo, mango chutney and naan bread for lunch , Chinese style pork rice out of freezer for dinner and hm Bircher muesli for breakfast which was cheap and easy and yummy and I didn't feel hungry for about 4 hours afterwards so no snacking


    Counter successes (?? Trying to avoid fails )

    Ordered a cable for my tablet because the one it came with is ludicrously short and I could do with a spare for work as I'm often caught short of charge . it arrived today shortly after a found one that fits it in the junk drawer. £3 wasted


    New goals

    Sort out a clear, simple and easy to use recording and reporting format so I can report spends and saves weekly, monthly and annually. I think this will keep me focused and motivated .

    Post daily while I'm off work on hols. Hoping if I get into good habits over the summer then I'll keep it up when I'm running around like a loon come September.

    Clean car - its getting embarrassing

    Pack for my hols

    Collect train tickets

    Print off vouchers etc

    Off to bed now, was aiming for 10.30 but that hasn't happened!

    PP x
    • pinkypig
    • By pinkypig 29th Jul 17, 8:05 AM
    • 746 Posts
    • 6,474 Thanks
    pinkypig
    I've woken (at 6.45 not 5.30 - settling into holiday mode) to a much brighter day. I hope it lasts.
    I've done my new morning routine - fed the dog, put the coffee on, cleared the worst of the teenage detritus and checked my online banking
    Early in the week I collected up bits and bobs of savings that were scattered around to try and make the most of meagre interest. Today the cheques cleared so £3950.57 into my offset account plus a 33 p TT

    I have one more savings account which has interest of around £6 payable on 3rd August so once I've got that I'll close it and move the balance to my offset. That will mean for the first time in forever that I've got one current account, one savings account and one mortgage. As they are all online and the payment into my OS saver is set up it should be quick and simple to op and keep track of the mortgage. Let's hope its not famous last words...

    I've decided that my weekly,monthly and annual recording and reporting will be done using the following categories (always have Keith Lemon in my head when I say or write that );

    Grocery- this will include food, cleaning,pets and toiletries

    Petrol

    Gas and electricity - nice and easy with my smart meter which I love

    Personal spends. - I'm giving myself £150 a month for me, the house, garden etc. Given that nothing is actually needed, the kids have pocket money and jobs and annual stuff is budgeted elsewhere it just requires willpower and mindful spending

    Offset/remaining mortgage amount

    New mortgage term/original mortgage term

    New mortgage amount / original mortgage amount


    I'm going to record my holiday and annual spends and review those annually.

    Need more coffee ( and maybe a bit of reading time) before I raise the teenmonster

    PP x
    • greent
    • By greent 29th Jul 17, 8:24 AM
    • 6,511 Posts
    • 65,693 Thanks
    greent
    Am sure the charger won't be wasted - they do 'go' after a while, I've found (I've just bought 4 new ones this week after going through a pile I found, only 1 of which was working... - 6 of us in the house - 3 tablets and 3 phones can all use the same type of charger - and we have some in bedrooms (phones are alarm clocks in this house), 1 in each car and 1 in the caravan. OH also works away from home in the week so has one in his travel bag) - it's just a spare ready for when you do need it
    x
    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) £5278/£3286
    Net sales 2017 £1445.57/£500 PAYDOX17 £12239/£10k Decluttered 1870/2017 items
    • Moneyfordreams
    • By Moneyfordreams 29th Jul 17, 8:32 AM
    • 902 Posts
    • 4,420 Thanks
    Moneyfordreams
    Hi, good luck with your plans,
    My mortgage is a little bit bigger than yours, but our plans look similar. I want to retire at 55 in 71/2 years. I'm aiming to get the mortgaged cleared as not to eat into my lump sum... but time will tell. After being a successful MSEer last year, this year I'm taking the scenic route...
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £158200
    h@lifax CC £4300 0% until May 2018.. will pay minimum for now, slow stooze
    CC daughter gift and holiday spends £2200
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

2,465Posts Today

6,763Users online

Martin's Twitter