Baby steps to being mortgage free

Baby_steps_2

propertyangel wrote: »

Great to see the steps you are taking. Inspirational! Suggest trackers not a great idea as interest rates will go rapidly up at some point. Perhaps stay on standard variable rate for a while and when interest rates start to rise, look for a fix then? Its great you are overpaying your mortgage now and reducing the debt.

Thanks propertyangle. I think thats what I've decided to do when my fix ends in July. If rates don't go up to much planning on staying on a SVR untill early next year so 6 months of big overpayments to bring the LTV down as the CC will be paid off in July as well. Then we will wait and see what position we are in next year.

Fingers crossed interest rates stay down. Could really do with a bit of luck!!:p

Baby_steps_2

Well I have just has a very mse lunch hour. I managed to get hold of the frenzy friday Tesco code so got 50% off my £50 shop. I was also very proud of myself, £20 of the was presents for my sister and my cousin, would normally spend £20 on my sister alone so was very chuffed with that. :TPlus only spent £5 on myself:rotfl:

I also got notified that the cheque is in the post for the phone I sold so another £10 coming my way to go off the CC's.

I also spent a lot of last weekend putting some stuff on ebay (only old clothes so wasn't sure how they were going to sell). For that reason I only put on 7 items, so far have bids on one but watchers on the other 5. I'm only hoping to make about £10 but its better than nothing. Saw on Pammys diary its a free listing weekend and I have a DVD player to sell so may list it this weekend.

On the bad side of things, I have joined the gym!! Really want to start exercising some more and classes are £5 per class. Monthly membership costs me £33 so only need to go twice a week to get my money back. The only down side is had to pay out £60 to join this month. Need to re-adjust my budget this weekend for this. I know its expensive but something I really want to get back into so hopefully will be worth it. Plus if I don't use it only have to give one months notice to cancel so not all bad.

Also the food shopping is still going very badly wrong. Now only £57 left in the budget to last till 27th of May!! :mad: Do have lots of stuff so am hoping that I can stick to this.

pammyj74

what was the tesco code I must have missed that

good luck with ebaying and well done on treating yourself to the gym (if you can call it a treat lol)
I have spent £49 already so almost half my budget but do have lots of stuff in already so only need to top up on bread, rolls and fruit.

Downsizing__for_sanity

Hi Babysteps,

Great to see that you are taking steps to pay off your mortgage early. Two things...
1. Would you not be better concentrating on paying off your credit cards as fast as poss as they usually have a higher APR? I'm not an expert on this, but it seems to be the basic principle from the DFW board - snowballing. (I suppose you might be lucky enough to have a 0% CC in which case, ignore the above!)
2. The grocery challenge and storecupboard challenge on the Old Style boards are great for motivating you to stop spending unnecessarily on food when you already have full cupboards but no inspiration!

The best of luck!

Downsizing

Baby_steps_2

Hi downsizing,

Downsizing__for_sanity wrote: »

1. Would you not be better concentrating on paying off your credit cards as fast as poss as they usually have a higher APR? I'm not an expert on this, but it seems to be the basic principle from the DFW board - snowballing. (I suppose you might be lucky enough to have a 0% CC in which case, ignore the above!)

Yeah you are right. I should be paying off my credit cards first, but with the re-mortgage being just around around the corner and the need to attempt to drastically reduce the LTV made the decision to put a £100 of the CC money towards the mortgage.

Downsizing__for_sanity wrote: »

2. The grocery challenge and storecupboard challenge on the Old Style boards are great for motivating you to stop spending unnecessarily on food when you already have full cupboards but no inspiration!

I know I really need to get over to those boards to try and get the grocery bill down. Just haven't got round to it yet.

In other news.........

All my ebay items sold!!! Go me. Not sure how much I made yet as not posted any of it. Most of this is the OH's money as most items are his, and he needs the money this month. But reckon I made a bit on my two items and as a well know supermarket says - every little helps!!:rotfl::rotfl::rotfl:

Baby_steps_2

pammyj74 wrote: »

what was the tesco code I must have missed that

Pammy,

Forgot to say it was a freaky friday thing on the clothes site, the MSE email was advertising the offer. I think I was one of the lucky ones that got through the website crash!!

I bought some good presents for my sis and cousin, it arruved yesterday but the jumper I got for me does not fit, so going back:( but hey saving some money!!:D

SmlSave

Hi babysteps

Have you seen this site? http://www.cheap-family-recipes.org.uk/planners.html

weezle in 'how much have you saved' has created a months budget plan for £100 for a family of four - it is amazing reading

I'm going to give some of the recipes a try

Baby_steps_2

SmlSave wrote: »

Hi babysteps

Have you seen this site? http://www.cheap-family-recipes.org.uk/planners.html

OK wow that site is amazing. Think I can really get some good ideas from it. thanks alot Smlsave.:D

SmlSave

No probs baby steps

Baby_steps_2

Well another 50p earnt on quidco. Been meaning to check my credit rating, so got checked my experian credit rating today and no issues at all. So no idea why I got declined, they bank in question just must have crazily strict acceptance rules as I earn good money and my debt is pretty low in comparison. At least I feel better now i know someone hasn't gone running around with my identity:D

My bulding and content insurance re-newal has come through so got some quotes tonight and reckon I can get it a bit cheaper. Going to pay it as a lump sum this year instead of monthly.

Right off to see if I can find the monthly grocery challenge thread, June is going to be better than May as this seems like the best area to try and make cuts, £40 a month is £480 a year extra towards the mortgage.