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  • FIRST POST
    • Runders
    • By Runders 4th Jan 18, 5:07 PM
    • 160Posts
    • 461Thanks
    Runders
    The Cottage Dream
    • #1
    • 4th Jan 18, 5:07 PM
    The Cottage Dream 4th Jan 18 at 5:07 PM
    Hello All,

    I used to post way back in 2015, and my old diary is here: Clicky
    I disappeared because my Mum became unwell with cancer and so spending time with her became much more important. My wonderful Mum unfortunately passed away in October, and this has really brought it home to me that life is just too damn short! I've always had the long term goal of moving back to the countryside and having my own horse, but I have decided I'd rather work hard for this now rather than later, hence the new thread and title.

    My spending has been out of control over the last year or so, so I'd like to get it back in check and really knuckle down again. My plan is to try and pay as much as my mortgage off as possible, in order to facilitate being able to move back to 'The Shire' as I call it, where house prices are more expensive than where I currently live.

    My mortgage currently stands at £96,407. I started with £110,884 in Sep 2014. I have an offset mortgage which I really like. I originally had the benefit set to reduce my monthly payments, but I have just contacted the bank asking if they can change it to a term reduction. This way I can't spend the savings each month!

    I'll pop back later with a SOA .
    MFW: Start: September 2014 - £110844
    Jan 2018: £96,407
Page 1
    • SWSEGirl
    • By SWSEGirl 4th Jan 18, 5:23 PM
    • 72 Posts
    • 154 Thanks
    SWSEGirl
    • #2
    • 4th Jan 18, 5:23 PM
    • #2
    • 4th Jan 18, 5:23 PM
    Hello & Good luck on your journey!

    I'm very sorry to hear you lost your Mum, losing a parent can really put things in perspective - life is just too short at the end of the day.

    Your dream sounds very similar to ours - we have the cottage in the country dream too. I'll follow your diary with interest and wish you well!

    x
    Original Mortgage as of September 2016 = £322,999 Paid off by 2051
    Current Mortgage Balance as of September 2017 = £316,649
    Emergency Savings = £9,661 £10,000 £10,500 £11,200 £11463
    Mortgage OP's Total = £1500 £2200 £2900
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 4th Jan 18, 7:50 PM
    • 828 Posts
    • 3,705 Thanks
    wishingthemortgaheaway
    • #3
    • 4th Jan 18, 7:50 PM
    • #3
    • 4th Jan 18, 7:50 PM
    Ooooh new diary. Hello

    Sorry to hear about your mum. Make sure you continue to take care of yourself.

    Happy Saving.

    Wish.
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2025
    MFW 2018 Challenge Member #162 0/£2,500
    • Runders
    • By Runders 5th Jan 18, 11:49 AM
    • 160 Posts
    • 461 Thanks
    Runders
    • #4
    • 5th Jan 18, 11:49 AM
    • #4
    • 5th Jan 18, 11:49 AM
    Okay my SOA, I keep track of all the spending I do and I have taken the averages over the last 12 months from here. I have dipped into my savings a lot recently and that isn't necessarily reflected on the SOA (house works etc), so this is more just a breakdown of monthly spends over the last 12 months.

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 2000
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 2040


    Monthly Expense Details

    Mortgage................................ 448
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 68
    Electricity............................. 15.01
    Gas..................................... 15.01
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 11
    TV Licence.............................. 12.25
    Satellite/Cable TV...................... 0
    Internet Services....................... 28.25
    Groceries etc. ......................... 250
    Clothing................................ 50
    Petrol/diesel........................... 185
    Road tax................................ 14
    Car Insurance........................... 37
    Car maintenance (including MOT)......... 10
    Car parking............................. 0
    Other travel............................ 20
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 10
    Contents insurance...................... 10
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10
    Haircuts................................ 0
    Entertainment........................... 400
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1618.52



    Assets

    Cash.................................... 1600
    House value (Gross)..................... 175000
    Shares and bonds........................ 0
    Car(s).................................. 7000
    Other assets............................ 0
    Total Assets............................ 183600



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 96407....(448)......1.85
    Total secured & HP debts...... 96407.....-.........-


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Stoozing/car purchase..........12000.....300.......0
    Total unsecured debts..........12000.....300.......-



    Monthly Budget Summary

    Total monthly income.................... 2,000 ish (this varies for me)
    Expenses (including HP & secured debts). 1,618.52
    Available for debt repayments........... 381.48
    Monthly UNsecured debt repayments....... 300
    Amount left after debt repayments....... 81.48


    Personal Balance Sheet Summary
    Total assets (things you own)........... 183,600
    Total HP & Secured debt................. -96,407
    Total Unsecured debt.................... -12,000
    Net Assets.............................. 75,193


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.


    I realise my entertainment and groceries are high, I am a sucker for lunches and coffees out and I am also not good ion the kitchen. Must do better!
    MFW: Start: September 2014 - £110844
    Jan 2018: £96,407
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 5th Jan 18, 2:53 PM
    • 828 Posts
    • 3,705 Thanks
    wishingthemortgaheaway
    • #5
    • 5th Jan 18, 2:53 PM
    • #5
    • 5th Jan 18, 2:53 PM
    There are people far more experienced than I at looking at these things but...

    We 3, me hubby & toddler are spending about £50 a week on food max, including some hideously expensive baby food products, because they are organic this, and sugar free and added vitamin this oh, and toddler loves them and he gets hangry and these stop the hangryness.

    Eating out: do you make use of offers? Loyalty cards? Meal deals? Supermarket points?

    I would think your entertainment budget would & should be a bit higher than ours, I get the impression (apologies if I'm wrong) that you are single? And with the bereavement you suffered last year you should be taking every opportunity to get out and about. Again, supermarket points deals, vouchers, money off coupons. Once, in a queue for a famous theme park we had 2 for 1 vouchers and an odd number of people. We did actually hustle down the line to find someone else to be our queue and payment buddy.

    Keep smiling.

    Wish.
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2025
    MFW 2018 Challenge Member #162 0/£2,500
    • beanielou
    • By beanielou 8th Jan 18, 10:11 PM
    • 49,539 Posts
    • 186,408 Thanks
    beanielou
    • #6
    • 8th Jan 18, 10:11 PM
    • #6
    • 8th Jan 18, 10:11 PM
    Your food budget seems high for just one person.
    Anyway, happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • Blibble
    • By Blibble 9th Jan 18, 6:54 AM
    • 306 Posts
    • 300 Thanks
    Blibble
    • #7
    • 9th Jan 18, 6:54 AM
    • #7
    • 9th Jan 18, 6:54 AM
    Happy new diary!

    Couple of quick points on the SOA - groceries seems a tad high for one person, over £60p/w. Where are you doing your shopping currently? Are you buying ready-made food, or cooking from scratch?

    Entertainment is also more than we'd spend, but everyone's different. Given your circumstances, I don't think it reasonable to suggest cutting back straight away here, but it may be something to consider when you really knuckle down.

    Also, £185 fuel is a touch high. Is this all for work? If so, can you car share etc. to perhaps reduce this?

    There's lots of good points as well, though - I wish our bills were that good value! You've got a great goal in my which is personal to you. Best of luck
    OnePoll: £109.45 - Populus: £145 - LuckyPhone: £42.40 - FBL: £27.80 - Crowdology: £4.88 - Prolific Academic: £11.03 - Research Opinions: £3.04 - Quidco: £0
    Total extra income: £343.60
    • michelle09
    • By michelle09 9th Jan 18, 11:50 AM
    • 581 Posts
    • 2,740 Thanks
    michelle09
    • #8
    • 9th Jan 18, 11:50 AM
    • #8
    • 9th Jan 18, 11:50 AM
    I'm with the others - can you find ways to bring the entertainment budget down without sacrificing your lifestyle? Groupon is a great way of getting restaurant vouchers - we got one for my OH's birthday last year. Restaurant price was £21, Groupon was £16 and I got 8% cashback on the purchase. Knowing you got such a good deal helps you enjoy it a little more.

    This website is wonderful for finding deals and coupons to get the costs of entertainment down.
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