Pay off mortgage and start having fun!

newgirly

Another busy day, I went to the new westfield shopping centre in stratford with my parents as my Dad still has not bought anything for mums 60th on monday yet. Its only 20 mins on the train, but way too busy , for someone fairly close to london I think I am definatly a country person!
We had a really nice lunch in jamie oliver's new restaurant there Dad's treat, I borrowed dh's oyster card, and bough 3 xmas pressies in boots with vouchers so another cheap day. I nearly gave in to a bottle of red wine this evening, dh is going to be really late for the 3rd time this week, but have opened a bottle of mulled wine from last xmas , and its very nice :beer:

newgirly

Mortgage dilema,

I have been on to the chelsea again to find out the exact date I can apply for a new deal next year and have been told that the 10 fix is for new customers only. I am so annoyed I missed this when I looked on the site. All the deals for exsisting customers are not v. good in comparison.

Anyway , I have realised that we may have to change provider which is a worry with dh's wages dropping. If we could pay off another 5k or so before may we may be down to a 65% ltv. but the only way to pay that much off is to keep the 0%cc and only pay the min (owe£3600), I am not sure which is the best course of action really, if we don't clear the debt how much will it reduce the borrowing by when the time comes.

newgirly

Having a good weekend so far, its my mum's 60th tomorrow and we went out for a posh dinner and cocktails last night all my dad's treat, he also booked a stretch limo for us all which was a nice surprise.

Today the boys want to meet a friend at the park for football which I am hoping dh will see to as I'm a bit tired today after last night. Dad has asked me to get a cake for mum tomorrow and I was going to make one but I don't have any decorations or coloured icing. I think I need to go to mr t and look at the ready made ones first, then decide whether to bake or cheat.:D

Its still really warm here, its supposed to be 80 next week, which I suppose is good for the gas bill, but all my summer clothes are back in the loft.
I have switched my gas/elec this week as well which hopefully will help. I have £40 odd on tcb tracking and my DD has been estimated my npower as £69 PM for both. At the moment I am paying £125.

The odd thing is I looked up my usage and meter reading for the last year and inputted them and my elec is £65PM odd but the gas use is £4 PM , very strange! I am sure thats not right as its impossible , but I'm not too worried as I shall imput the figures once a week from now on so it will soon show up if its way under. I am also around £120 in credit with the old company, so hopefully might get a bit back when the acct is closed.

The car ins has gone up due to being hit and the other driver lying, my ncb was 15 years, its now 3 The new cost is £320 plus £28tcb.
The only thing left to sort is the house ins and dd's phone contract, last year I took a £10pm sim only and got a massive £80 tcb, this year I thought I would get a blackberry as she has always wanted one and the monthly payment is about £3 more, plus at the moment around £100 tcb. Thats not up until nov, so will have to look then , plus I will wrap up the new phone for xmas.

I feel like I am doing well on the £10 a day challenge at the moment, I shall get a couple of bits at mt t today then see if there is still any left.

Hope everyone is having a good weekend.:D

CathT

Lots to catch up on!

Just a thought? I think I remember you losing CB/CTC entitlement with the new rules. Will your DH paycut impact on this at all - maybe you'll be entitled?

newgirly

Hi cath, I rang the tax office a couple of months later and went through it again , which resulted in us getting it as I had not allowed for dh's overtime being lost when he took his annual holidays, only a small amount of difference but was enough to allow us to get £44 per month again.

DH had his first meeting with all the staff/shareholders which did not go well, the option is basically have a 5% pay cut and sack a member of staff who is a good worker, or take a 10% pay cut. Mostly they wanted to sack the staff member which is surprising as they are a very small firm, however when dh said we will all have to take on his job and do more , they were not up for it. He is having another meeting today, and I think he will just insist on the 10% cut. Some wanted to give the higher earners a bigger pay cut than the others, but they are the ones doing WAY more hours for free, whilst the lower paid ones do there hours then go home on time which does not seem fair.

The assistant manager and dh have children and they are both willing to have a big pay cut to save their jobs, I can't believe people are trying to stop him when their jobs are on the line and it is a highly skilled old fashioned type business where lots of other firms have gone under in the last few years.

Anyway, the £10 a day is still on track, but we need to find £185 to see us through on that until the end of the year. Plus dd has come home with a letter for a deposit for her school trip £65, I am determined she will go as its a school reward trip and she is a really hard worker at school. A plan is needed, plus xmas money to find too, but hopfully my wage will cover the trip and xmas.

If we can get through this next three months on a tight reign next year will be easy.:D

misscousinitt

I would much rather take a pay cut than lose my job altogether...hope it all works out ok. Great challenge by the way.

newgirly

Not been around much as I had a bug earlier in the week Fine now though with lots of ironing and cleaning to catch up on.

DH has put to the staff the 10% pay cut and they all have to sign a form agreeing or not and get it in by tues. The pay cut starts straight away so next fridays pay packet.

I have not made any ops for a while now, so am going to work out how much we are paying off the 0%cc and the overdraft for the last quarter of the year, as its quite a large amount. In january we will still have £2418 left on the 0%CC then by june we are debt free :j
Thinking back there is not one time in our lives together (16yrs) that we have not been in debt. I would definatly like to get some proper savings and possibly offset it against the mortgage figure next year.

The £10 a day challenge is going well, although I am also buying the last few xmas presents which is not included in the allowance as shown below.

Still need to find extra money this year to cover:

• £121 for remaining xmas presents
• £115 deposit and second payment for dd's school trip
• £121 short on paying for £10 per day until dec31st
• £50 ish for the kids halloween party(for the boys outfits and food and drink for 23 teenagers and 7 11 year olds)

This should be just about ok I think, as my wages are earmarked for this lot until the end of the year.

newgirly

I've had a look at the money we are paying off in the last quarter of this year and so far:

Paid off £1737

still to be paid £2543

Total to clear off overdraft and 0% CC for sept - dec £4280.

Starting in January will will owe £2391 on the 0%cc
£149,266 on the mortgage

£151,497 total

Hopefully by re-mortgage time in may next year the 0% cc will be gone, plus the mortgage will be down to £146,571. There will be 10 official years left on the mortgage by then.

cha97michelle

Sorry you have been unwell. I hope you are all well now. The worst bit is how the chores all accumulate and are there when you get back to health isn't it. DH can take care of the kids, but can't seem to move cereal bowls into the sink and run water on them for example, or get the washing machine on.

Money sounds like it is going to be tighter, so just do what you can. You are so like me. I keep driving myself mad with 'what if...' and 'if i did this...'.

newgirly

Feeling much better thanks michelle, although still lots of ironing to do , I did try but it was just too hot today.

Dh has been trying to finish all the odd jobs in the bathroom after a bit of nagging, just the airing cupboard and doors to paint and door locks and handle to be fitted then it will be done.