Pay off mortgage and start having fun!

Alchemilla

Hope your DH bucks up.x

newgirly

Have finished work for the week :j

So after much debating I've chosen to stop overpaying the 0% credit cards and the loan and just focus on the mortgage.

In normal circumstances it would be the other way round , however we can't remortgage or extend the term and we now have just 6 yrs11 months left to clear over £138k :eek:

This means I have to cut down our living costs by more. Now I will have 700pm for food/clothes/petrol/entertainment/kids travel and everything they need, plus birthdays Xmas and holidays. If dh cuts the wages again in july we will have to reduce it by another £136 pm to £564. (I seriously hope not !)

Not sure how this will go but I'm going to throw myself into it at least for this year. I won't start in June as there is still money owed to the current account to pay for the mini, plus I'm putting by cash aside to give dd for her 18th and pay for her party (at home in the garden ,so not too dear).


Monthly cutbacks I have made are :

Reducing my allowance to £30 pm from £50 cash

Cutting DDS £30 pocket money (I will start putting £50pm on her oyster card from the £700 cc budget though)

Cutting the cc budget from £800 to £700

Stopping the £50pm premium bond purchase (will have just hit £1000)


Costs that have increased are:

Car expenses £85 up from £60 pm

£46 Xmas savings pm

New monthly mortgage payment of £1840.36 _pale_


My plan to cope is :

Homebrew (high priority :rotfl:)
Drive Eric more - big petrol savings
Be far more organised food wise -meal planning and shopping
Let mil cut my hair :eek:
Sell old clothes to cash for clothes if tatty
EBay whatever I can find

Can't think of any more just yet , need to get back to my oldstyle ways

newgirly

I'm having phone trouble lately, first ds2 got in the hot tub with his phone in his swimming trunks pocket , and now ds1s iPhone has an email virus that apple can't fix so its unusable the wet phone has one year left on contract so he is now using a payg 4.99 Argos brick (I shall order a new sim for the account)and the iPhone has five months of contract left , not sure about that one yet.

Had a look online and can't believe how expensive some mobiles are now, ds1 has friends with the latest model whos parents are paying over £50 pm :eek: no chance, they get £14 pm and anything over they pay themselves , even that is a lot compared to my £6 incl free phone upgrade

Using the new cc from June 9th so have a month free of grocery costs ,the extra will pay for DDS college bus £500 in summer. I just need to get to the 9th spending as little as possible in cash, I'm allowing £50.

Feeling quite excited about really going for it with the ops again from July, the last few years have been about clearing debts and paying for the loft conversion, it will be great to see the balance go down. I feel like we will be really rich when its gone , but in reality we need to save a lot to help with retirement as that's always been a low priority due to spending most of our adult lives (before mse) being spenders not savers.

Back later to look at my bucket list which has been sadly neglected

Alchemilla

With MIL cutting your hair you will find out how she feels about you!

newgirly

Ha ha , I may reconsider :rotfl: I know I am not good enough for her son as I don't serve his every whim

newgirly

I've overspent. Shopping in Mr t £58 , a hot air brushstyler for DDS birthday £12.99 and 3x Pandora charms for Xmas (really cute Santa's letters and only £10 each!) Grabbit

Oh well over the £50 budget on the first day, need to redo the finances now.

Dd was not needed at the theatre today and dh was given a bottle of wine from a happy customer, perfect sat night I'm thinking, until Ds 2 comes downstairs dressed up in his best shirt ready to go to a birthday party I'd forgotten about :mad: so no wine and early night for me, I need to collect him at 12.

Firegirl

Budgets are meant to be blown out of the water. At least you know you have to behave the rest of the month. AND your a bottle of wine up so that's another night in....... Shame not tonight though! Lol

CathT

If you hadn't set a strict budget Newgirly you would possibly have spent a lot more so it is still money saving. Tomorrow brings us a new month, sounds like you have some challenging times ahead but your MSE ways will see you through it.

newgirly

Thanks firegirl and cath

I've just checked the accounts and I missed adding Junes child benefit :j so instead of £47 short I am £144 up !

I'm keeping £10 a day until I can use the cc (£90) and oping the rest

Appointment at the apple store today, who will not replace or fix ds2s phone I'm sure, plus visiting gran at mums house as everyone except me is away next week so I need to help her out and she will not be receptive to this as she doesn't need help! So have to persuade her today.

CathT

newgirly wrote: »

Thanks firegirl and cath

I've just checked the accounts and I missed adding Junes child benefit :j so instead of £47 short I am £144 up !

I'm keeping £10 a day until I can use the cc (£90) and oping the rest
y.

What a great start to the day....and you still have a bottle of vino!