The long winding path to a new home .......

hayley_jayne

Hi everybody, I hope you don't mind me posting here but I am kind of between boards in my financial journey.


As an overview, I joined in June 2008 with quite a bit of debt. Through lots of hard work and selling our house we are now debt free.

The next aim is to save a deposit to enable us to eventually get back on the housing market.

Based off current house prices in our area we are looking at a £40k deposit for a house around the £160k mark so know we have a great deal of saving to do! :eek:

My last diary helped me a lot and hopefully this one will serve to help keep me on track.

xxxx

lunar

Hayley, well done for all your hard work in becoming debt free. We just completed on our house and had to stump up 44K as a 25% deposit for our first house!

Even though we have other debts to pay off we have just set the direct debit up for the 20% overpayment per month that we are allowed on the mortgage. Once we are debt free we will be saving every penny to pay off a lump sum at the end of our 3 year fixed rate.

I know you will save your deposit in no time, good luck

Tesco_points_addict

hayley_jayne wrote: »

Hi everybody, I hope you don't mind me posting here but I am kind of between boards in my financial journey.

My old debt free diary is here:
http://forums.moneysavingexpert.com/showthread.html?t=973463

As an overview, I joined in June 2008 with approx £25k in unsecured debt. At the time we were expecting our first child. Through lots of hard work and selling our house we are now pretty much debt free (with the exceptions of a fixed rate loan, front loaded so not worth paying off early and some money my dad lent us for a car - these equate to £300 per month payments). In addition we have a lovely baby girl.

We have £2.5k in an ISA and are paying £650 for rent plus utilities, council tax etc at our current house.

The next aim is to save a deposit to enable us to eventually get back on the housing market. Things have slipped with the move and as such we haven't saved anything this month. However, we did have to buy some things like a new forward facing car seat for the baby and a washing machine.

Based off current house prices in our area we are looking at a £40k deposit for a house around the £160k mark so know we have a great deal of saving to do! :eek:

My last diary helped me a lot and hopefully this one will serve to help keep me on track.

xxxx

Well done on a job well done. You will save your deposit before you know it. Keep up the good work, and congrats on the baby xx

TPAx

setmefree2

Hi

Well done on becoming Debt Free.

You might find this thread useful.

http://forums.moneysavingexpert.com/showthread.html?t=789675

It's the "We're saving for a Deposit" Thread on the housing board.

Good Luck

Kind Regards

SMF2

hayley_jayne

Thank everybody

Setmefree thanks for the link that is really helpful.

To be honest the focus needed hasn't really set in yet. I think we are likely to begin in earnest from the 19th June when I next get paid as it is unlikely there is going to be much saving happening this month.

I have had a bit more of a clear out. I am pleased as I have been really ruthless with my clothes and our bedding and through this I have donated three large bags to 'Save the children'. I know if I was in true money saving mode I would have ebayed it but as I rarely donate money to charities I do like to donate our old stuff to some extent.

I joined Slimming World on Thursday, yes I know more money but guess personally I need some kind of driver if I am going to get my rather large rear end into gear. I've been watching the Biggest Loser on the TV and it has me inspired (LOL how sad am I :rotfl:).

I have started to think some life goals through and have realised part of my problem is trying to attempt too much all at once. So I am going to try little goals one by one. I am also going to set myself a minimum of one weekly challenge and will post here to let you know how I am going on. Feel free to have a go too and let me know how you do LOL.

This week's challenges (run from tomorrow to close of play next Sat) are as follows:

• To cook 2 recipies never attempted before
• To lose 2lbs in weight
• To spend no money on pre-packaged lunches (take my own)
• To do something nice for somebody else

xxxx

ShelleyC_2

Like the idea of your weekly aims. I always find in much easier to do things in small steps.

I've so got to try and avoid buying lunches its amazing how much sandwiches can add upto over a month. So I'll join you it that target. Might also try the 2lbs if I can get on the Wii fit!

Good luck :T

miemie

Well done on becoming debt free and an even bigger well done on how much you have knocked off your mortgage your a real inspiration, at the moment i am trying to save hard and fill my ISA once that is done i plan to start over paying on the mortgage, i am 31 with 23 years on my mortgage but i do not want to be paying it when i'm 50.

RosieTiger

Good luck to you on your journey !

MoneyQueen

Hi hayley_jayne,

Welcome to MFW Board... We also stopped buying lunch at work since we became MFWs (start of this year) and now we just don't like the shop bought sandwiches.. Homemade always taste much better and they are much healthier

Good luck with weight loss also

Tesco_points_addict

I joined Slimming World on Thursday, yes I know more money but guess personally I need some kind of driver if I am going to get my rather large rear end into gear. I've been watching the Biggest Loser on the TV and it has me inspired (LOL how sad am I :rotfl:).

This is awful but I watch that programme too, normally whilst stuffing my face with crisps chocolate and wine (I sky + it and watch it in the evening - just in case you thought I was drinking wine at 4pm). I wish I had their determination, I'm sure the only way I would lose weight would be to go on TV, I loved watching in when Jodie was in it a year or so back.

TPAx

SmlSave

Good luck with your week's challenges!