I'm going to do a diary too :)

CathT

Your building plans sound similar to what we have planned here - eventually. Hope the work goes well.

gerbiljo

Thanks Cath, hard trying to do too much at once. we're just taking one step at a time I daren't think about completion, realistically I'll probably be doing the finishing touches in about 5years!

gerbiljo

£5 global opinions:j

CathT

It will be worth it when it's done, gotta be cheaper and less stressful than moving!

Your mortgage free months are really coming down aren't they!

gerbiljo

Yes I guess they are, tho having it all soooo planned out makes it go slower? Yeah cheaper than moving...but this is not our forever house, in an ideal world, however I think a few years off and some time to think will be great and we can decide once and for all whether or not we will upgrade or not, if we didn't this house would be fine, but I'd love a big garden and ours is about 30ft, if I could pick it up and move it...

Well hubby is laying bricks as we speak! We should be window sill height at the front today. Did an ok food shop yesterday £44 which included the £10 off, I over guessed the amount a bit, got a few extras tho like a huge pack of DVDRs and some washing powders etc that we only get once in a blue moon.

Tangled came today so I am happy, not more surprises due in the post now tho

Looking forward to next weeks overpayment. Not looking forward to the next 2 months tho as no extra days off and my parents have some times when they are not around and as I have limited holiday I shall have to take my daughter to work, this will be a good tester for the future as to whether this will be feasible in the future....

Will update next week now

gerbiljo

As I previously mentioned I have spent this weekend brainstorming and come up with a repayment plan.

So to start this I have to expose my credit card debts! (will update signature also) these are all interest free by the way and as by this plan will be paid off before this period ends.

Tescos=£2240
Sains=£4050 which I estimate will be £4150 by the end of the week

So as of this month we shall be £500 per month better off (due to taking a payment break in the loan to my parents- also interest free), this will allow us approxiately £1100 a month to live on and pay off debts. Initially we shall still be using the sainsburys credit card to live on and the rest to pay off the tescos card, we have a few extra expenses this month so come beginning of June we will take £950 off the credit card...
June challenge- take £950 off tesco card, spend less than £550 on sainsburys card

July our sainsburys card will max out so we shall start using cash to live on so we will take £750 off tescos card and spend no more than £250 on sainsburys card. At the end of July we will no longer use the sainsburys card so I hope the balances are;
Tescos- £540
Sainsburys- £4700 ish

August the tesco card will be cleared and we shall start to reduce the sainsburys card. This months we shall go into to £40k's on the mortgage so I have decided to reduce our usual over payment that month so we still do go into the 40's but slightly less so. Aims for this month are...
Tescos- £0
Sainsburys- £4400 ish
Mortgage £49900

From this point on we shall have a budget of £550 for general life/food/ petrol and pay the rest off the sainsburys card, ideally reducing this by £550 a month and the usual £100 payment.

In december we are once again about to hit a milestone and go into the £30k's (£37somethingk) so at this point we will reduce our over payment by about 1.5k and nearly clear the sainsburys card (leaving our mortgage at £39 somethingk), which can then be cleared the subsequent month.

At this point we will then pay a total (including normal payment) £3580 a month off the mortgage balance allowing us to be MF 1st november. Obviously aim is to clear at latest december so this allows us a healthy buffer for interest rate rises and unexpected happenings.

Hubby did point out I forgot car insurances etc and we do have a tax rebate etc but we shall just see how we go with this challenge. The ultimate aim is 1) to clear all credit cards without incurring any charges and that is the utmost number 1 aim and 2) to clear mortgage in 2012 no matter how late in the year, preferably by the 12th tho to fit with the MFIT challenge.

This pretty much rules out a holiday this year, I think as long as we can get a really good one at the beginning of 2013 then we can live with that. I just hope I can get xmas off

Oh and we have to build as well:rotfl:I guess we have to see how it all pans out, but plan being to be at home for sept 2013 when my daughter starts school is looking good and hopefully we can have another baby too:j

Finally, can I just see if anyone knows, if we cancel sky I presume we just become 'freesat'. We have unplugged our roof aerial as it is rubbish so only have the satellite now. I think we should cancel it, obviously if they offer us some good deal to keep it going fine but I just want to be sure we don't lose our tv altogether. That would be another £30 a month saved (gotta keep going to september) and I might cancel my phone contract come december also and go back to 'pay as you go' I really don't need it and at least I can keep the phone

OOh better update the signature...gotta make sure this challenge all works:money:

CathT

I think if you cancel sky you get the 'free to air' channels but someone else can probably clarify this.

It would be great for you to finish work when DD starts school. My DD will start school nursery as I go back from maternity leave and I have no idea how I am going to get her there and back for a 2.5 hour session when I do 6 hour shifts!

gerbiljo

If thats all we can get thats fine, tho I'm not sure hubby will be too keen to lose sky sports news.

Cath its a nightmare isn't it. I had my first day at work with my daughter today she was very good, she starts preschool in september and its 12pm-3pm tuesdays and thursdays. I work a split shift depending on my work load so it is quite feasible I could make these sessions, but not every week and I can be called back so if this happens I will be a bit stuck and I can't expect my parents to be around all day incase, usually they take her out and about with them. I am just going to play it by ear or its too stressful to think about! I hope you can get it sorted out, is your work flexible?

I want to be aropund when she starts school but as this is the preschool at the school I kind of feel like I should be around already. Next year it will change to 8:30 to 11:30 that will be harder!!

CathT

My DH would not be happy if we lost sky sports news either!

Work isn't flexible, I'm a nurse so can't leave work and do my hours over 5 days which is a pain. I might try and do something about this when I go back after maternity leave though. I have had a good think today and think I will use a childminder for DD but send the baby to nursery when I go back to work. Was having a look at the list of local ones ad was reminded that DH's friend and partner do childminding and also do weekends.

It would be lovely to be a SAHM, I wouldn't mind DH being a SAHD as long as one of us was around.

cha97michelle

Jo that schedule looks really hard. I wish you luck achieving it in that timescale.

We just started stoozing on a 0% card, and i am just hoping i can juggle it all ok. There is always something to worry about or pay. I'll need to be on the ball i think.