new mfw

SmlSave

Good luck vibes and postive thoughts being sent to you hun

chirpchirp

Thank you everyone for your vibes. On the positive side my regular savers ended this month and I've received £170.96 in interest this year. I would never have done this if it wasn't for this site and reading this particular forum.

I've put it all into my vantage account at 4% gross. When I was asked at the building society what I would do with the money and I told them she looked shocked, looked briefly at the poster to what their current account paid and then told me it wasn't advisable to use current accounts to keep such large amounts. I asked why, she said it was easier for fraud to be committed on current accounts as all your transactions go through it. Well that won't be quite the case in these circumstances.

I haven't seen anything around to beat or equal t

chirpchirp

Thank you everyone for your vibes. On the positive side my regular savers ended this month and I've received £170.96 in interest this year. I would never have done this if it wasn't for this site and reading this particular forum.

I've put it all into my vantage account at 4% gross. When I was asked at the building society what I would do with the money and I told them she looked shocked, looked briefly at the poster to what their current account paid and then told me it wasn't advisable to use current accounts to keep such large amounts. I asked why, she said it was easier for fraud to be committed on current accounts as all your transactions go through it. Well that won't be quite the case in these circumstances.

I haven't seen anything around to beat or equal the 5%gross regular savers that I spotted this time last year in Halifax and LLoyds. Mind you, can't say I've looked too hard as I know I won't have the money in the forthcoming year to do this again.

chirpchirp

Hadn't realised it was such a long time since I updated!

Difficult to know what is going into the mortgage at the moment and what is going to savings, will have to have a careful think before filling in the challenges.

Basically, I have no job at the moment and I'm moving house. Savings that I had made towards the mortgage and counted in the challenges, have been used to pay a deposit on the house and some rent, whilst I sell my old home.

Hopefully in a few months, when the sale goes through the mortgage will drop substantially to take account of the equity in the current property.

chirpchirp

I still don't know where I am as far as the mortgage going down for the year. I can't update either the mortgage free in three or the 2010 mfw. I still don't have a job, but looking forward to getting some supply work in the new term.

I had to change mortgages earlier in the year so that I could port it at a later date. Really frustrated by this as my original mortgage allowed me to overpay as much as I wanted to and also said there was a porting option. The building society claimed that it could only be ported in the early repayment penalty period and claimed that this was what product related to. As a result I've had to go on to a mortgage with an increased interest rate, which isn't for the lifetime of the mortgage and now has early repayment penalty. As a result when I sell my house, I won't be able to put all the equity into paying the mortgage off.

Meanwhile, the savings I had made towards the mortgage, I've been living off and using to pay the rent on my new house which I've already moved into. Once I've ported it won't be worthwhile me paying money off the mortgage, so not sure what I will do towards sorting the mortgage. When I do port I will go onto a repayment mortgage so that I can at least reduce it during the penalty period. I could change the term, but not sure with interest rates rising in the near future whether this is a good idea, especially as my income is very topsy turvy.

chirpchirp

Definitely a long time since I updated. I've tended not to since I went on an MSE weekend away and met some people from the arms, don't really want all my business on display.

However, I intend to crack on with the mortgage free journey but can actually earn more interest than I'm paying out if I use my ISA allowance.

So much has changed since I started this diary and I'm now in a house two hundred miles from where I was when I started with my £241,000 interest only mortgage.

Three and half years later, and I'm on a repayment mortgage. My interest rate is set to increase to 2.99% and remains variable. I had been on a lifetime tracker of .99% above the variable but the building society said although it was portable mortgage the portability didn't extend past the early repayment period. My mortgage then increased to 1.49% above the boe for approx 30 months and then 1.99% above boe with a floor of 2.99%.


I now have appox £156.000, left to pay. However, when I started the MF in 3 challenge I had decided that any monies in my S&S ISA would be deducted at the end of the challenge which would make my amount o/s approx £126,000. I also have other savings so I think I could possibly say I'm about £120,000 to save or clear.

Not bad as I'm not working as much as I used to.

chirpchirp

Hoping that if I update this, it will keep me more focused.

This week I have I have been bulk buying and managed to get 12 cans of tomatoes for £2.99, which beats the Lidl price that I normally pay. I'm thinking that working on my grocery bill and cutting eating out and take aways is the way to make huge savings as I've been very unfocused for the past two years.

This week I've checked my gas and electricity supplier and found I could save £99 if I changed. Went ahead and did this but hadn't found a cap so contacted my current supplier and got them to swap me to the cap rate which is capped till March 2014. Tips needed for how to get the kids to keep electricity usuage to a minimum. Since moving, it's more difficult to read the meters, in the old house at one point I was reading them weekly and the kids were involved with this, but now the stepladders have to come out for the electricity and even then I don't quite reach and have to start standing on the sink and for the gas we have to go outside which is a pain in the rain or snow!

Also swapped my home cover. Now paying abour 80p less a month but having radiators as well as boiler covered.

I've updated my vantage account so that I can get the 4%.

I've cancelled the dog insurance as I no longer have a dog.

I've also upgraded my phone, gone for an iphone 4 which is a bit of a jump from my nokia 6301! I'll be paying an extra £7 a month for this but it will be worth it to access the internet. Change of provider after nearly 20 years too. Great deal though as I'll have 2000 mins, 5000 texts( yeah like I'll use them) and unlimited data.

Meals have become a bit mundane as kids refuse to eat most things, not sure where I went wrong. Sending dd to neighbour to learn to cook a curry tomorrow on the grounds she's more likely to eat it if she has cooked it herself.

chirpchirp

£302.00 overpayment made diverted into ISA due to the interest rate.

Made up of expenses I incurred earlier in the year, finally managed to pay in cheque.

chirpchirp

I have a feeling no one reads this but I'll ask the question anyway. For many years I used my tumble dryer as a matter of course. I'm now trying not to use it at all. With two children I seem to always have loads of washing, without using a tumble dryer how do you all manage?

toerag33

Hi chirpchirp

Really enjoyed reading your diary from the beginning today. It also brought back a lot of memories from my separation and subsequent divorce. Times have been very difficult for you. I will enjoy reading your updates.

Kind regards
toerag33