MF by the time I'm 50?

Queen-Bee_2

Hello Kittikins,

Congratulations.. I've just started my MFW diary too - had been a lurker for a while, but as I've got some time on my hands, have decided to make Moneysaving my current project!

Haven't got round to the signature bit yet - my next job is to get my head round some of the spreadsheets you can use to work out interest savings etc. If you find an easy one to understand, please let me know!!!

Bye for now,
Queen-Bee

chirpchirp

"I am divorced with a DD, work full time and have a mahoosive mortgage! Until this afternoon when I paid in my first ever overpayment of £160, the figure was £148,759. Gulp. It looks even worse when it's written down in public!"

We are in a similar situation to each other. I also am divorced but have two children and a gigantic mortgage.

"I have an interest-only mortgage on a daily interest rate for 3 years from April this year, the interest rate is 4.69%. My full mortgage term is just under 21 years."

Again, similar situation, I have an interest only mortgage, my term is for 18 years -probably 17.5 years now! When I first became divorced I was on a fixed rate of 4.89%

"I calculated yesterday that to pay it all off by my 50th birthday, I would need to pay £34.71 A DAY!!"

I'm not quite as organised as you, to work this out though, so well done you:T

Well done on all your money saving ways. One day I may get round to putting things on ebay, amazon or green metropolis but it all feels like too much hassle at the moment.

Good Luck.

Kittikins

Hiya chirpchirp - well I've just finished a mammoth listing of a load of books, CDs and DVDs on
Amaz*n
Eb*y
Green Metr*polis
Music Magp*e

Basically, the books are things that I'm not fussed about reading again, no point holding on to them for sentimental reasons, gathering dust etc etc.

The CDs - I plan on copying them onto blank CDs before shipping out by whichever form

DVDs - think I only had 1 to sell.

It's taken a while to have both A and MM open, typing in bar codes and comparing the possible return, but also very cathartic as if they all go, I'll have moolah to pop into the pot!

I've been sitting on this stuff for years and years, I rarely listen to CDs, tend to pootle around Y*otube these days, and so I'm glad that I've set myself a target so feel I should make a bit of effort in the early days

However, I have realised that I have other things I need money for, so I mustn't get too enthusiastic...
* need to pay for remainder of next year's holiday, only £90 plus however much the ferry to France will be
* really should replace carpets at home as they're very manky
* should also build up my 'money to cover all bills' fund to be 3-months worth as a minimum.

I do have a sealed pot that will have a minimum of £40 in it, hopefully a lot more, which might cover or nearly, the £90. Once DD is at school full-time I'll have more money to play with, but I'm kind of used to being pretty darned brassick, so want to make some inroads now whilst I'm keen.

Right, must stop waffling on and go to bed, it's gone 1am.......eek!!

Kittikins

Annoyed with myself today for a variety of reasons:
1. Was charged overdue fines at library - even though I had been told by a librarian that she'd renewed my books....they have a new computer system and it hadn't worked. Was going to argue it but then remembered that my favourite library occasionally lets me off fines, so thought I really should pay this money...
2. Had to cancel the listing of my vouchers on eb*y as I realised that I hadn't put a reserve price on and at worst they'd go for 99p...which for £40 worth of vouchers wouldn't be good. Hopefully I can work out how to do a reserve and re-list, but am feeling grouchy so will probably muck it up again, lol.

Apart from that, sitting her looking at my screen with its reminder of how much I have to pay off isn't scaring me too much I'm hoping that some of the books and CDs will soon start flying off the shelves....does anyone have any GM success stories?

BUT on the other hand, I have finally brought down a bag of clothes to put on Eb*y tonight, all things that I've slimmed out of, some Mons**n, some M&$, so hopefully the fact that they're larger sizes and in good nick means that I'll get a couple of quid for them....now to hope that I can find my camera later on!

alfiesmum

Hi Kittikins,
After reading through your thread, I thought I'd add this link :http://www.fool.co.uk/news/foolseyeview/2005/fev050127c.htm
It reminded me of you, as you've broken the challenge down into a daily amount! There might be bits in there that you'd not thought of just yet.
It's about paying off your mortgage in 5 years, with an account of how one family managed it.

alfiesmum
xx

alfiesmum

Kittikins wrote: »

2. Had to cancel the listing of my vouchers on eb*y as I realised that I hadn't put a reserve price on and at worst they'd go for 99p...which for £40 worth of vouchers wouldn't be good. Hopefully I can work out how to do a reserve and re-list, but am feeling grouchy so will probably muck it up again, lol.

The lowest reserve that can be set on eBay is £50, so it might be an idea to look at a higher starting price. Have a look at what price other similar items/vouchers have finished at - you might be surprised, if they consistently go to a good price, then yours would probably do likewise.

Kittikins

Thanks for that, I'll go and have a look at sold voucher prices, I've got £40 Ann H*rvey clothes shop vouchers and had put them at 99p but wanted to have a reserve of say £25-£30. It's not the end of the world if I don't sell them, hopefully they'll have something in during the winter that will suit...problem is, due to dieting, I'm not at the lowest end of their scale!

cha97michelle

Found you. Just posting to bookmark your thread. Wishing you the best to complete your challenge.

Kittikins

Morning all

Feeling bleugh today as I was a numpty yesterday and fell off the diet big-style, I was feeling stressed about a few things and knew I was going to do it and no amount of self-counselling would have stopped me I think

Wasted nearly £5 on rubbish food to do it - if only I'd had the strength of mind to stay away from the shops and put the fiver into my mortgage pot!! Next time....there's always next time

Apparently I'm going to get some kind of referral bonus for sending a friend to my diet group, hoorah! I know where that's going

Time to empty my purse of shrapnel for the sealed pot, can't wait til its full and I can break into it and see how much extra I need for our holiday next year....and am now thinking of booking a lovely cottage in Devon for May, it's somewhere we went 2 years ago and I've found out it's £100 cheaper to go for the Whitsun holiday than in the summer....hmm...VERY tempting...

chirpchirp

Well thanks for the inspiration, I've listed some books on greenmetropolis - not sure if it will do much good though as they seem to have so many copies of the titles that I'm listing.