Pay off mortgage and start having fun!

newgirly

After much procrastinating I have made some descisions about the finances for the rest of the year I have done the following:

• changed the mortgage back to repayment, 17 years from june ( currently 10 yrs left after I reduced it from 33 yrs in 2010)
• min payments now £948 instead of £425 :eek:
• Isa opened, now saving £470 per month, possibly for the life of the mortgage depending on interest rates
• Hopeful op's of an optimistic £216 per month
• mortgage free all going well in 12 1/2 years
• savings in 12 1/2 years of just over 80k

I have decided to pay the balance of our centerparcs weekend away in july, £391 left plus activities and spending money, we had decided to try and change it for a cheaper weekend for 2 but as its dh's 40th year I thought s*d it, the kids loved it there the first time we went.:D

Mays money left over after the isa saving will go toward centerparcs and maybe a bit leftover to put by for the kids birthdays in summer.

I am setting myself a £10 a day budget from now until 13th may when I can use the cc again , freeing up enough to pay for a few activities for the weekend away.

Thats it for now, but next week I hope to be back on track cooking/ baking bread and trying to be more frugal.

evab_2

wow I thought my monthly payments were a lot but that is big, at least you'll start seeing some great figures!

Hope you have a brilliant weekend away (when it arrives) need to have a bit of fun every now and again so enjoy it.

Ev x

never_too_old

That is one of the advantages of a repayment mortgage , you do see the balance going down, Hope your feeling better:D

newgirly

All I seem to have done is spend money this weekend, petrol, food and I paid for takeaway for my parents and us last night as my dad has been fab helping dh sort out stuff at work. They had a meeting with the bank yesterday which went ok, but they need to see more detail before a final descision can be made, its all coming together slowly though fingers crossed.

I am going through my regular wanting to move phase at the moment, which consists of lots of time wasted on rightmove , followed by me finding a nice house in an unsuitable area for our needs, followed by a drive to look at said house , then a realisation that the grass is not greener after all, is it just me who does this, I am guessing that most people are a bit more sensible than me!:rotfl:

My one frugal thing I have done today is bought some v. cheap compost and seeds at ald* ready to grow radishes/courgettes/tomatoes/carrots and green beans, not sure where they will go as there is no soil in my garden just decking and a ridiculously large log cabin.

Hope everyone is having a good weekend.:D

newgirly

I have had a useless month earning wise, no surveys, no work done at all due to being ill, I need to catch up this week.



Things I want to achieve this week are:

• Do twice as much work as normal for dh to try and catch up a bit
• stick to my £10 a day budget
• do flydady cleaning every day
• don't use tumble dryer at all
• no heating on
• do some baking

Dh has taken the twins to the park to play football, so I am about to prepare the veg for dinner, slow cooked and then roasted chicken with veg and new potatoes, we went to ald* where a bag was just 59p, I havn't been to a major supermarket for weeks now, and I think thats what is making a big difference to the budget.

A little good news is that due to the tax code change dh's wages have gone up by a massive £3 per week :T

beth111

Wow NG, I really admire your determination. Those mortgage/saving payments are very Impresive :T
From your SoA our income is almost the same as yours and I can only dream to be able to do what you are doing. Any tips

Weronika

No heating? Do we live in the same country? I'm trying to be frugal and heating is only on in the morning and evening for bath time and for 2 hr through the night - and I'm rethinking that as well, coz it's !!!!!!!g cold!

I admire your determination and your lists:D

newgirly

Hi Beth, we do spend on stuff but I tend to spend on trips/breaks and cut back on everday stuff if possible, which is not for everyone, my cupboards are full all the time but not so much with ready done stuff, I have virtually stopped buying at big supermarkets and m&s which was a big drain, and now buy lots at ald*.

Hi weronika, hope you and bubs are well, it is a bit chilly here but to be honest the heating was on all last week when I was ill, hence why its off now. It can't be that cold though as my kids are still lounging around in pj shorts and yesterday dd has a summer dress on brrr!

I am venturing out the house to the shops with my mum today for the first time in ages for a coffee, just need to hold off spending too much. £10 a day starts today, but i do have a good head start as we have quite a lot of food in so it should be ok, also starting my diet again, I have lost 1/2 a stone since xmas which is a lot less than i should have lost, I would like to lose another 1 1/2 stones before summer.

CathT

Great targets Newgirly and having your holiday to look forward to will help you through the frugal times. Glad you are feeling better too, ongoing illness is so draining.

I'm also guilty of a Rightmove addition but we are about to start work on our house which hopefully will curb my addiction. If I can get over my boxroom issue we should be happy here for a long time. Our area is fantastic, hence getting more for your money elsewhere.

Yay to the extra £3 in DH's pay - I wonder how much time that would knock off your mortgage as an OP?

brizzledfw

Well done NG they are great targets. We are trying for £500 OP a month on our repayment mortgage. It's tough as we are both now part time but anyway being MF in about 8/9 years would be fab!! I am aiming for 2020 if we can!

Yes what would an additional £156 pa do to the mortgage?!! Worth finding out as cath says!!

Brizzle