Pay off mortgage and start having fun!

NRY

Hi NewGirly,

I've only recently discovered these amazing forums, and have been browsing them over the last month as I'm trying to clear some debts, and thinking about options for paying the mortgage off early too.

I came across your diary, and read the first few pages about you owing circa 170k. I then fast-forwarded 7 years and can see you're down to 80k, and are planning to pay that off in less than two years. That is an amazing achievement - so motivating that you decided one day to become mortgage-free and then did as you said you would!!

You're an inspiration, especially being a mum of three children. Easy to impose spending restrictions on yourselves but less so for dependents.

Anyway - I'm here cheerleading for you as you're on the final stretch.

One question - apologies for not going back and reading your entire diary (there are 300 great diary pages!), when did you pay your credit card off? I know you said it was 0 percent interest and wanted to focus on your mortgage first. Seems sensible given the interest piling up on the mortgage...

Keep it up!

NRY : )

AlexLK

newgirly wrote: »

Can't you get your parents to babysit and go alone? I've just collected them and it was fantastic apparently

Glad to hear it was good.

Unfortunately not, my parents have gone to Spain... son and I have "the big house" to ourselves. :rotfl: :rotfl: :rotfl:

newgirly

NRY wrote: »

Hi NewGirly,

I've only recently discovered these amazing forums, and have been browsing them over the last month as I'm trying to clear some debts, and thinking about options for paying the mortgage off early too.

I came across your diary, and read the first few pages about you owing circa 170k. I then fast-forwarded 7 years and can see you're down to 80k, and are planning to pay that off in less than two years. That is an amazing achievement - so motivating that you decided one day to become mortgage-free and then did as you said you would!!

You're an inspiration, especially being a mum of three children. Easy to impose spending restrictions on yourselves but less so for dependents.

Anyway - I'm here cheerleading for you as you're on the final stretch.

One question - apologies for not going back and reading your entire diary (there are 300 great diary pages!), when did you pay your credit card off? I know you said it was 0 percent interest and wanted to focus on your mortgage first. Seems sensible given the interest piling up on the mortgage...

Keep it up!

NRY : )

Hi NRY, I did post a reply yesterday but it's gone sorry! Thanks so much for the kind words, the last few years have flown by. I have A terrible memory but we became debt free a after few years then borrowed 25k (personal loan) and about another £8k maybe on cc to pay for a bedroom / bathroom loft conversion, the loan was paid off and also bits of it kept being transfered to 0% cc's over time.

The final debt was cleared just a few months ago when I accidentally forgot to make minimum payment on time so I just drew it out of the offset account to get rid!

It's a combination of effort and luck that's got us close to the end, I was given a lump sum by my parents last year which has sped things up about two years, but also I was a sahm for the first couple of years which gave me time to really research how to live on a small amount without the family noticing too much. The biggest tip of all is to have a diary and read other people's here, everybody is so supportive - sometimes with praise but also with a telling off when required, I can't recommend it enough.

Good luck starting your debt/mortgage free journey (and hopefully diary ) All the best , newgirly

newgirly

newgirly wrote: »

newgirly wrote: »

newgirly wrote: »

newgirly wrote: »

JAN update!

Start figures in 2017

Mortgage £58,613

Loan. £21,773


Total at Jan 1st £ 80,386


As at today:

Mortgage £56,120

Loan. £ 21,180

Total today; £77,300


Total reduction so far this year: £3,086

Total Jan reduction :£3086.00

Update done

I've woven a financial mess this month already! Cc spending went on the cc too early, so is now due a month earlier, plus I've spent on on a few frivolous bits. Actually one of the items was essential - my favourite irregular choice boots have been missing for a month (presumed thrown away after being brought home from mums xmas day in a Black sack :eek:) I tried to live without them but life was not the same, replacement ordered, happiness restored- £80

Anyway, after juggling and stealing from dds oyster top up allowance this month I've come out even, I will top up her oyster from my monthly money instead. The balance on the cc for Feb so far is £175 - £125 misc. petrol, meal out and boots , plus £50 oyster top up.

The plan for Feb is simple now, I'm not to go over budget which is £650 total, so now £475, or more like £375 after fares but before petrol. Actually that's going to be pretty hard now I think about it!

I can do it but will have to :

1). Not buy wine regularly

2). Organise food supplies better, keep fully topped up and meal planned at all times!

3).Go back to mse old style basics for the month - how little can we spend and still eat ok?

3). Not spend money!

4). Keep cinema as only going out treat (unlimited cards)

5). Organise a family Sunday meal this month so we don't feel so much like hermits

Phew, that's it for now


Wow reading that back does sound terrible, buying boots for £80 and leaving us short! I shall borrow from premium bonds and payback from birthday money if needs be.......

newgirly

Cheap weekend planned :


Cinema last night, £0 (Gold- 6/10!)

Aldi food shop followed by meal plan - work around the bargains available

A day of cleaning and ironing today, dh at work again

Lunch at the Inlaws tomorrow - first time since last summer or perhaps autumn even , oops.


All the drive I had for losing weight seems to have disappeared I'm not really overeating but I'm not getter far, it seems much harder than when I lost weight a few years ago. It doesn't seem to come off unless I'm really eating a lot lot less.

I'm going to try on a few of the dresses I bought in the 'Lindy b*p' sale last year that I wanted to slim into and see how far I have to go it might give me a push

newgirly

Shopping done at l*dl today for he first time in ages, I couldn't face the ald* car park queue in town, £62 spent on tons of healthy stuff and a few treats for the kids.

Mooching on the op spreadsheet again today (its a slow day and I'm trying to avoid the ironing ) we now have 21 months left if we carry on paying what we are trying to stick to. I almost don't know what we will do when the mortgage has gone, I don't want to get used to spending (and wasting!) large amounts of money.

Dh said over the Xmas holiday that it won't make a massive difference to his life as he will still have to put in the long hours at work as he currently is (all extra hours unpaid anyway of course) which is rather depressing!

I had lots of ideas of what would happen after the mortgage when we first started , but now I don't know. I guess it all depends on what the kids do after college, as we could potentially have 3x at uni at once :eek:

House prices are racing away very fast here, so a btl as we always had thought about would have to be sooner rather than later really, or more likely not at all. A house has just gone up for sale in our road, the same as ours but better condition, with no third floor for £480k! Insane, one sold for £190k three years ago. At this rate they will all have to rent a garage to live in.

AlexLK

Have you thought about making and sticking to a meal plan (even plan any snacks)? Also, how much exercise are you doing? If you're not burning off any excess calories through exercise, you will not lose weight.

Perhaps start thinking about things you can do when the mortgage is paid. However, there is nothing wrong with having some fun!

Once your mortgage is gone, there may be some margin in your husband taking a lesser salary to employ others to do some of the work. To be honest, I cannot see how his working hours are sustainable over anything other than a very short period of time, how he's had much time with his children over the years or had time to pursue his own interests based on the type of hours you often mention.

I don't understand prices in London / near enough to London that commuting is easy. Whilst I can understand people generally earn more there, I cannot see how their quality of life is better when c.£500,000 is only buying a terraced house or even just a flat more central to London. I have a few friends from school / uni that live in London, I am aware they earn more money than my wife for a job requiring similar amounts of responsibility / accountability but live in what I would consider cramped conditions.

gallygirl

AlexLK wrote: »

Have you thought about making and sticking to a meal plan (even plan any snacks)?

"GG wakes up in a parallel universe where Alex is advising people to meal plan. You know, the same Alex who used to shop on a whim every day".

:rotfl::rotfl::rotfl:.

And he's right you know .

newgirly

Hi Alex and GG, I started off well with the meal plan (am good at doing it for he family all the time anyway) I just get bored and lazy doing it for me, you are also right about the excercise I don't enjoy it at all, except walking with my friend and swimming. I'd love to join the gym again for the pool there, it just seems a bit Extravagant.

As for dh's hours, it's a major issue it is sustainable as he has been doing it for over 20years, he did Long hours a lot with the kids and it's the main reason I didn't work for so long as he would work such long and varied hours, after starting at 3am or working nights/weekends If a job needs doing urgently. I have to say he tried wherever possible when he was with the kids, homework when he could, spending what ever time at weekends he had playing with them. It was just a lack of time.

A big part of being mf was my thought that he would be able to work less, however after what he said at xmas I don't think it will be the case. The company makes and restores things by hand and it's highly skilled - he loves that part of the job he has been doing it since he was 15, its running everything else and the volume of work coupled with reduced pricing for the last few years (government budgets cut etc.) make it more work for less money.

As for the housing , the cost is a massive worry in regards to the kids buying in the future. For ourselves, we moved further out when we first married due to cost, but I was pretty miserable at home full time at 25 with three aged 3 and under, living in a small village. We came back due to that that but mainly the schools which were average there but fantastic here.

Now we would have to move so far away to get a significantly bigger house and I wouldn't want to. All our friends and family are here and the kids have London on their doorstep, they all get out a lot to see things. If we save we could get a bigger house here in the future perhaps but we probably won't need it by then (hopefully!) you are right though , there has to be a balance still, I would not have lived in a tiny flat just because of location. We have a terraced house, but it's got enough bedrooms a small garden and is in a lovely area.

Plus as a townie I would get a bit scared living in a big house in the country, but I have watched a lot of scary movies

newgirly

Well after reflecting how rubbish I've been lately at losing weight, I thought I'd try setting daily targets rather than general long term ones - like the no alcohol until I'm at target weight one, not a great idea for somebody weak willed

Monday the 6th Feb target:

3 healthy veggie meals

No snacks

Max calories 1500

Do day one of the shred ( I do hate it, but it needs doing!)


It's not been a bad day food wise, lunch at the Inlaws but I steered clear of the desserts and chocolates