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    • debt cruncher
    • By debt cruncher 26th Aug 17, 5:19 PM
    • 338Posts
    • 1,734Thanks
    debt cruncher
    DC's on a mission to own Kingston
    • #1
    • 26th Aug 17, 5:19 PM
    DC's on a mission to own Kingston 26th Aug 17 at 5:19 PM
    Hi everyone

    It's been a long time since I have posted on the forums but I have finally become debt free as of 23 August and I am now on a mission to own our house which is called Kingston.

    A bit about me: I am 36 and DH is 38 no kids yet and a dog called GW. We bought a 4 bed detached house in December 2013 and spent the next 2 years renovating it finally moving in 2015 and just got the final rooms decorated this summer.

    The current mortgage is a tracker mortgage 1.99% above base balance £59709.75 which is currently due to finish November 2033.

    The plan is to overpay by £600 pm and hopefully clear the mortgage in 5 years. I think I will be able to earn 5% in regular savers so plan to maximise these first and then do a lump sum overpayment when they mature.

    So need to research current regular savers before September when we will be able to save our first £600.

    I look forward to getting to know fellow MFW's along the journey.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
Page 2
    • debt cruncher
    • By debt cruncher 7th Sep 17, 8:20 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    It's been a bit boring this week at work but picked up today when DH texted to say he had been paid a week earlier than we expected. So that's £645.24 sent to the OP pot. Total now stands at £772.72 and we are only 2 weeks into this journey but I expect things to slow down a bit for the rest of the month.

    The mortgage less savings is now £58682.92 over £1000 reduction in 2 weeks. I wish we could pay this off every 2 weeks but it's a marathon and not a sprint. Also have had 4 NSD's this week but must go food shopping tomorrow.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 7th Sep 17, 8:23 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Forgot to say that our Nationwide account has been set up just waiting on the cards. So will soon be earning 5% on our OP savings.
    Last edited by debt cruncher; 10-09-2017 at 6:55 PM. Reason: Typo
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • Madcatgirl
    • By Madcatgirl 8th Sep 17, 9:23 AM
    • 327 Posts
    • 3,956 Thanks
    Madcatgirl
    Hiya - just had a read through, you're doing fab so far! My 5%s are all ending next month, so I need to find somewhere else to stash my cash!
    March 2016 - £178,914.59; July 2017 £146,160.38
    Mortgage end Sept 2043; Target - pay off by March 2022, now Sept 2021
    Target balance July 2018 £112,560
    • debt cruncher
    • By debt cruncher 10th Sep 17, 6:53 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Had a bit of a spendy weekend.

    £9.61 at the vets
    £45.00 on fuel
    £10.00 on light bulbs
    £61.88 on grocerys
    £70.00 at FIL's birthday lunch.

    Lunch was very nice today had budgeted £80 so £10 saving sent to the OP pot. We are a third of the way through the month and our budgets are looking good just need to keep an eye on the food budget.

    I have send all our OP savings to our Flex Direct account so earning 5% interest

    This week I need to cancel mobile phone contract and I should have another OP from wages tomorrow.

    Enjoy the rest of your weekend.

    DC
    Last edited by debt cruncher; 10-09-2017 at 6:55 PM. Reason: Typo
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 11th Sep 17, 8:07 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Just sent £50 to the OP pot and a NSD. Good start to the week.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • pinkypig
    • By pinkypig 11th Sep 17, 9:16 PM
    • 714 Posts
    • 6,316 Thanks
    pinkypig
    Just sent £50 to the OP pot and a NSD. Good start to the week.

    DC
    Originally posted by debt cruncher
    Fab hope your week continues to go well
    • debt cruncher
    • By debt cruncher 17th Sep 17, 5:34 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Weekly update


    Spends this weekend included


    £3.70 on hoover bags
    £67.95 on curtains
    £109.76 at S@insbury's included £15 Netflix card and some xmas presents
    £12.00 on fuel


    Curtains turned out to be cheaper than we thought. We need 90 inches by 54 inches but the ones we picked only came in 74 inch drop. So I said to hubby that we my get them turned up by a dressmaker. The lady in the shop was looking all through the curtains for the size we asked for and she said 90 by 54 and I stopped her and said let me see those and it was the size we needed. Result and no dressmaker fees.


    We also got some pictures and hooks put up in the house over the weekend and it's the little touches which makes a house a home.


    Food shopping has went over budget this week but we needed to stock up the freezer. So I am hoping that next week shopping will be lower to compensate. DH also informed me that he can get us 5% of our shopping every week as part of his employee benefits. You have to purchase a reloadable top up card and say you put £100 on it is only costs you £95. He also gets other benefits so I will have to have a good look at those. Every little helps.


    I had 5 NSD's this week. I find I am good during the week but then spend a lot on the weekend. So am trying to do better and only buy essentials.


    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 17th Sep 17, 5:56 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Milestones and Treats
    Was chatting with DH this morning about setting some milestones and then having a treat. So we came up with the following list


    1. Mortgage down to £55,000 (approx. Dec 2017) coffee and an expensive dessert at local cafe
    2. Mortgage down to £50,000 (approx. May 2018) Day trip by train along the North Coast
    3. Own 75 % of house. Mortgage £43,750 (approx. Nov 2018) Dinner in an expensive restaurant
    4. Mortgage down to £36,000 (approx. July 19) Trip to Dublin zoo possibly with a 1 night stay (Big kids at heart )
    5. Half way point Mortgage £30,000 (approx. Dec 2019) Trip to the theatre and dinner
    6. Mortgage down to £25,000 (approx. May 2020) Purchase a 43inch smart TV
    7. Only 10% left Mortgage £17,500 (approx. Jan 2021) Afternoon tea at a 5 star hotel
    8. Mortgage down to £10,000 (approx. August 2021) Visit to Stonehenge
    9. Mortgage down to £5,000 (approx. Feb 2022) One night stay in the UK
    10. Mortgage paid off (approx. August 2022) Weekend break to Edinburgh


    I was thinking to myself this morning that it would be nice to go back to Edinburgh. It was the first holiday DH and I went on when we were dating. So I said to DH what would you like to do to celebrate paying off the mortgage and he said a trip to Edinburgh. I starting laughing and told him that I was thinking the same think. It is sometimes quite strange how DH knows what I am thinking.


    I think it is a good idea to have some treats along this journey and 5 years is not that long a time really. I can't wait to go for afternoon tea something I have wanted to do for years and hubby is looking forward to getting the new TV.


    So what do you think a good idea to have milestones and treats?


    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 17th Sep 17, 8:02 PM
    • 574 Posts
    • 2,208 Thanks
    wishingthemortgaheaway
    Loving that. (Just remember to save for the treats too)
    I'm off to look at my 100 hole house colouring in sheet.

    I'm going to go for a treat every 10 squares, what a shame I've only got £60 ish to go until the 10th square is coloured in.

    He he.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • debt cruncher
    • By debt cruncher 18th Sep 17, 8:50 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Hi Wishing

    I think is is good that the milestones are a good distance apart so that we can save for the treats but they are not too far apart if you know what I mean which keeps us motivated.

    That's great that you are nearly at the 10th square. Have you thought what your treat will be?

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 18th Sep 17, 8:56 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Well it's payday again and another £50 sent to the OP pot. I was reading on MSE that Sky was giving away a free Spider-Man DVD. So I ordered one and that can go towards our Christmas hampers. We are planning on doing a movie night hamper. Have a good week everyone.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 18th Sep 17, 11:24 PM
    • 574 Posts
    • 2,208 Thanks
    wishingthemortgaheaway
    Hi Wishing

    I think is is good that the milestones are a good distance apart so that we can save for the treats but they are not too far apart if you know what I mean which keeps us motivated.

    That's great that you are nearly at the 10th square. Have you thought what your treat will be?

    DC
    Originally posted by debt cruncher

    No idea... needs to be a tiny treat though as I've only got £60 to go until I hit it. Maybe tea and cake
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
    • debt cruncher
    • By debt cruncher 23rd Sep 17, 7:32 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Tea and cake sounds good Wishing. DH has been creative and drawn a train track with 10 stops and at each stop he has drawn a picture of the treat. I think it is pretty cool and he seems quite motivated by the idea of being mortgage free.

    Weekend spends included

    £40.06 on grocery's
    £25 on fuel
    £2.50 on car wash 1/2 price
    £7.10 on a cheeky Chinese

    Was on our way for grocery shopping last night and DH says what's that on the windscreen of the car and I looked and it was a big crack. Not sure how it happened as car has been sat at house all week. So appointment made to have windscreen replaced and £50 lighter in the bank. I am glad the car repair pot is very healthy as you don't expect these things to happen. Anyway off to watch a few more episodes of How to get away with Murder on Netflix. I am really liking this drama. Enjoy the rest of the weekend.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 1st Oct 17, 5:05 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Weekend spends included:

    £48.98 on food
    £25 on fuel
    £2.50 on car wash 1/2 price
    £23.44 on xmas presents

    I am very pleased that we managed to stay within our monthly food budget by about £3. Also got an email from PayPal with a £5 off next spend so used it to buy an xmas present on eb@y. Have added another £174.74 to the OP savings which came from interest and some monthly pots coming in under budget. Monthly progress report to follow.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 1st Oct 17, 5:19 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    September Progress Report
    Well September is now over and here are the stats:

    Mortgage capital reduced by £254.13
    OP savings increased to £1057.46
    Net debt £58398.18
    Monthly capital reduction and savings £1311.59

    £3398.18 until we reach milestone 1 Mortgage net debt £55000

    MSE savings during the monthly included:

    Using money off vouchers and nectar points saving £10.50
    Cars washed for 1/2 price saving £5.00
    Changed broadband provided saving £8.99 per month
    Opened 5% regular saver saving £200pm making our money work harder.

    Not a bad start but still lots more to do. 1down 59 to go.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 2nd Oct 17, 9:29 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Mortgage payment went out today resulting in the capital being reduced by £254.60. Also added £62.33 to the OP savings which came from some interest and extra money in pay packet. A good start to the month. Reached a mini milestone today as we now own 2/3 of our house. Have a good week everyone.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • Escapar2020
    • By Escapar2020 2nd Oct 17, 9:53 PM
    • 33 Posts
    • 45 Thanks
    Escapar2020
    Just caught up on your diary, looking good ;-) I'll be following.

    I also started a five year plan last december, buy have done better than expected, so far. I've recently increased my OP to that same £600 per month, bringing my MF date forwards to three years from now, all being well. Sounds like you might be done in less than 5 years too ;-)

    I like the post about milestones, I posted on the same subject recently too! My milestones are more time based though, passed 3 years to MF date, and next milestone will be to get to under 1000 days to MF date :-)

    I'd be interested to know abiut your plans for after achieving freedom? I'd like to leave my current job, but have no idea what I want to do instead!

    Good luck on your journey!

    Escapar2020
    Mortgage Jan 2017: £45,460___Current mortgage (Oct 2017): £32,908
    Scheduled end: July 2028_______Planned MF day: Sept 2020
    • debt cruncher
    • By debt cruncher 11th Oct 17, 7:34 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Hi Escapar2020

    I am not sure about our plans for the future once the mortgage is paid off. Would love to retire at 60 or maybe buy a rental property. I think being mortgage free will give us more options in the future and knowing that we own the house no matter what happens will be a great feeling.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • debt cruncher
    • By debt cruncher 11th Oct 17, 7:43 PM
    • 338 Posts
    • 1,734 Thanks
    debt cruncher
    Since I last posted we have managed to save another £730.28 into the OP pot. We are now over the half way mark to milestone 1 and net debt is now in the 57's. So everything is moving in the right direction.

    We are trying to eat more healthy this month and food shopping last week was over £85 and a top up fruit shop of £6 last night. I am not sure if we will stick within the food budget this month. We also did a batch cooking session at the weekend (first time ever) and have a few meals packed in the freezer. I will try to do the same this weekend as I worked out that some of the meals cost £1.60 a portion. Only problem is I need to buy more food storage boxes.

    DC
    Mortgage: £59709.77 (26/08/17) Now £59201.04 MFD Nov 2033
    Current OP Savings £1905.13 Target £3000 by 31 December
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 11th Oct 17, 10:30 PM
    • 574 Posts
    • 2,208 Thanks
    wishingthemortgaheaway
    I bought a box of 100 takeaway containers from Costc0 when I was pregnant. They are perfect for batch cooking.
    The 100 payment countdown (each payment = £400)
    2017 July : £36,800 8/100 Aug: £36,411.85 8/100 Sep: £35,945.66 10/100 Oct: £35,500 11/100
    Term Mortgage free date: October 2029
    Current mortgage free date: April 2025
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