Want to be a mfw but worried?

pammyj74

Hi Ally,
I havent posted a lot lately on peoples threads as it takes a lot of time and rarely add to my own actually. My time on here normally consists of looking at the comps thread occasionally and the grabbit board and updating the 2013 mfw thread with my OPs but will try and post when I can

I am amazed at your savings pot, wish mine was that full!
As for the mortgage until you are 70, just think of the 11 years you have already shaved, and how much more you can shave off the rest!

ally18

Hello pammy and many thanks for reading.

I am pleased to have knocked off those 11 years, my aim is to try and get it as low as possible by Dec 13 so if I have any savings left after the new boiler & radiator spends, I just may be able to get it nearly gone altogether. Then to start on mortgage 1.

I really need to learn how to subscribe to peoples threads.

ally18

Well another week nearly over. I had a letter from my utility company today saying they were putting my dd up to £120 per month. As they only advised me last month that my usage for the coming year was going to be around £960, this increase seems a bit much!

Anyway, I have spoken to them today and 'advised' my dd should be only £80, funnily enough they agreed with me, so that is all now sorted. Plus they hadn't given me my dd discount in my last bill so have hopefully sorted that too!

Mainly nsds this week apart from milk needed today. Work is very quiet and snow is on the way again. A quiet weekend on the way too.

ally18

Quick update, m2 now stands at £7660.

In a quandry over new boiler quotes. I've had two so far, £2400 & £2900, the second with additional work on. The boiler is still currently working so think I may let it carry on for a while. Then will get more quotes.

ultimaforever

Hey Ally, just wanted to say well done so far and what a great thread. Amazing reading it from the start. Very tempted to aim to be a MFW!

ally18

Hi ultima, thank you for reading through, hope it didnt bore you too much .

Well, I can't believe it is nearly April, should be paid at the end of the week and hoping I can pay off another sum of m2, don't know how much though as it has been a stressful month!

Grocery budget already spent which I'm annoyed at but I have only myself to blame. However, freezer is full so will manage out of there for a few days. I have lots of veg and some chicken so will be making some soups to freeze for tea.

On a different note, dd1(who now talks to me occasionally) has a place at uni come September. I have just had to pay my share of her deposit for halls of residence place. dd2 has a new place at college for the course she really wants to do which will give her a qual in itself so she may not want to go to uni later (fingers crossed). dd3 is becoming more and more a typical teenager, she is on school hols now, fortunately I am at work all day .

Gas tariff comes to an end in April so must look for a new tariff and electric finishes in May. I intend to find another fixed tariff for both but not sure if 1 year or 2 is best.

Oh, and I have made a decision over my lawn. As soon as the weather gets better it is going to become a veg patch. I have the spade and fork poised ready .

ally18

Update for March, m2 now at £7220.

Vegetable plot is now halfway dug and seeds bought. I decided to start small and have only taken a small area of the lawn to see how it goes this year. I have repaired my walk in greenhouse ready for the toms and cucumber.

Secret_Saving_Squirrel

Hello Ally,

Just wanted to say hello and offer some encouragement. Re the earlier comments about whether it is better to save or overpay, like you I favour overpaying because your home is your security whereas savings and investments are in the hands of others whom we trust to manage them and as recent events have shown, they can't always be trusted to do it properly. Also, there is always the temptation to spend from savings. I do think you are right to be shaving your term as it is so long, but do remember to have some fun now.....!

Teenagers are great aren't they. Barely deign to speak to you but very happy to take money for uni....!

All the very best,

Squirrel:j

ally18

Hello everyone,

My update for April is as follows ( I am still plodding on slowly and surely even though I’m not around much on here)

M2 - £6779
M1 - £54960
Overall mortgage - £61,739 and due to be paid off in May 2036

However, as you know I am directing my payments to m2 as that has the higher rate at present. So far, since May 11, I have knocked off 13 years and 9 months off m2 which I am very pleased about. I’m not op m1 at present.
My original thought was to try and get rid of m2 by Dec 13 by oping as much as I can and then using savings to pay the outstanding amount off. But, as you know, things change so I have had to extend my original date now to July 2014. This is basically because I don’t want to use my savings. Just in case something else comes up, I need them in reserve. So, another year on m2!

Ok, well my update for April isn’t much I’m afraid apart from I lost my walk-in plastic greenhouse to the winds and all of my seeds tha tI had planted. I’ve decided not to replace the greenhouse but to try and continue outdoors with my tomatoes and cucumbers. I may ….. if I see one cheap enough, buy a small lean to one at about £15 just to give them some protection. My small patch of lawn that I dug over is getting ready to put potatoes in and I may try leeks and onions. I plan to put salad stuff in all the spare pots I have lying around.

I was very good on grocery budget this month and have £60 left over in the kitty. I have signed upto another fixed rate for gas this month for one year and plan to do the same for electric in May. Car MOT is due May so will be a costly month I think.

Kids all ok and as happy as teenagers can be. Eldest much more friendly as uni beckons in Sept and stuff will be required for her uni room (mum comes in handy then ).

Work is ….well work (for which I’m very grateful). Payday today and I had £15 extra from the taxman (bless him). I plan to splurge as you can imagine. :rotfl:

Can't believe its a quarter way through the year already!!!

ally18

Well, a bit of an upset today. I have had to make the decision to bring the replacing of the boiler forward due to a dripping overflow pipe from the cold water tank. To sort out this drip, walls have to be taken down so I may as well get the tanks taken out now full stop so ... boiler has to go. Looking at £3k all together inc plastering afterwards. Oh well, that's what the emergency savings were for I guess.

Plus car mot tomorrow. This is going to be an expensive month. I won't be paying any extra to m2 this month. Maybe not for a while I think.