Mortgage Reduction Beginner to Novice - The Show Begins

setmefree2

Mortgage_Reduction_Novice wrote: »

I will ball my eyes out when OH goes back abroad/to work, I’ll have an evening moping on the sofa feeling sorry for myself but I won’t resort to spending money on chocolate from the corner shop.

Awww come on here and I'll give you a virtual hug

Well done on all your progress :T:T

Mortgage_Reduction_Novice

Hey hey... Next have finally realised that I can be more stubborn than them! And to think I used to work for them years ago and their customer services department were always undermining their shop staff back then, customer services is no pushover now!!!

Work coughed up my expenses too.

Thanks for the hug smf2 - I didn't ball my eyes out, I was very brave and I didn't buy chocolate! In fact, I ripped out the gahastly fitted cupboards from our bedroom!!!

Mortgage_Reduction_Novice

Just a quick update....

Mortgage payments going out the same as usual but due to the wedding we haven't managed any further additions to the annual mortgage overpayment fund since March. Our fixed deal ends in a few months so we'll be looking for the next best deal. Fingers crossed for a smaller rate as we've promised ourselves we'll keep the monthly payments the same thus increasing our overpayments without noticing.

I've cut back on MSing but haven't noticed the reduced funds - further proof that it was becoming more hassle than it was worth!

All other daily money saving and little eforts have continued since I last updated.

Mortgage_Reduction_Novice

Wow almost a year gone by since my last post on my own thread... best blow the dust off with an update!

Still plodding on with the mortgage although we're now paying £200 less per month than in Years 1 and 2. Our wedding was fab and the best bit was we didn't go into debt at all - credit cards paid off in full each month. Focus has now shifted to continuing the house rennovations and saving odds and ends for our annual overpayments.

We did our first car boot sale of the year last Sunday. Since we received many wedding presents we were able to sell lots of good basic household items and that really helped to boost profits for the day.

Have been thinking about tutoring so need to do some research into that.

Hope all other mortgage free wannabes are doing well!

Mortgage_Reduction_Novice

I figured I could at least manage quarterly updates without forgetting!

We're overpaying £12 per month plus we aim to make a lump overpayment towards the end of the year.

We both reached our target of 3 months wages in savings (which will go untouched unless one of us becomes unemployed).

Our joint savings is increasing by about £200 every month and we've making our own savings with leftovers from wages.

Next big job is the bathroom... I underestimated how much the smallest room in the house will cost to renovate so some hard core saving needed over the next two months - to boost this I'm working on the following:

I've made curtains and roman blinds and we do all the other decorating ourselves.

We've collected up enough for another car boot later in the summer.

I'm making Mr MRN coffee in the morning which I hope he isn't supplementing with bought coffee on the train to work.

I'm looking into exchanging my car for a diesel - my petrol costs are painfully large. But I fear I may have to speculate to accumulate on this one in that the savings from switching fuel type will feed directly into paying for the new car... any thoughts?

All my mystery shopping income (and the reimbursements) go directly into my ISA.

I haven't bought any clothes or shoes since March... round of applause for that please!!!

Radish72

Mortgage_Reduction_Novice wrote: »

I haven't bought any clothes or shoes since March... round of applause for that please!!!

:T:T:T for the no buying shoes and clothes

Mortgage_Reduction_Novice

Autumn Update:

Overpayments are up - £62 per month now.

The plumber is booked to start in 2 weeks time and we have more than the amount quoted in easy access savings.

I've bought one item of clothing since March and still no shoes. My clothes are faded and bobbly but I'm enjoying more sewing and revamping hobby time! Shoes are in a shocking state but I'm transitioning into winter boots which I had resoled and reheeled last winter so no more soggy feet when it rains! I will have to buy some spring/summer shoes next year though, they are past the point of repair.

Still struggling to look at my monthly petrol costs though.

Mortgage_Reduction_Novice

Happy New Year to you all.

MRN's Reduction Review for 2011:

• £114 worth of overpayments to mortgage.
• Only two items of clothing and one pair of shoes purchased the whole year!
• New bathroom saved for in full, installation completed in November.
• Deposit for new lower fuel consumption car - raided ISA! But new car is saving me £70 in fuel per month, £130 in tax per year and three years no MOT cost.

MRN's Fiscal Forecast for 2012:

• £12 per month mortgage overpayments. November is remortgage month so this may change.
• Sell, sell, sell. If we don't like it, don't use it and don't need it... I'll be selling it on ebay, green metropolis or at a car boot!
• Mystery shop till I can't shop no more - I started this in December and I'm owed £210 from the MS companies I work for already.
• One item of clothing or shoes per month - last year nearly killed me and my clothes are threadbare!
• Clothes challenge has been replaced with bring lunch and snacks to work - no spending on food at work. Which has been timed well as there's a D&V Outbreak poster on the door of the main building so I won't be tempted for at least a week!
• Saving for bedroom and living room furniture.

Radish72

Happy New Year

Well done on all your 2011 achievements

Is the new bathroom lush, think I had a 30 min shower when my bathroom was finished

Think 1 item of clothing/month is allowed :rotfl: especially if paid for with MS money

Mortgage_Reduction_Novice

Not only did I have a no spend weekend but I made £50.50 in mystery shops and changed my mobile phone contract saving £13 per month.

Oh my Radish, the bathroom is beautiful, for the first two weeks I couldn't walk past the door without having a little look! But more than that, it marks the half way point for renovating our house. After the house is finished, we'll be making bigger overpayments.