Pay off mortgage and start having fun!

newgirly

Ok, well things are not going so well this week, Have had some rather bad news on the financial front.
As I mentioned at the beginning of my thread my OH gets part of his wages in share dividends each year, its a tiny company that most of the staff have shares in, every year without fail they get paid out.
Due to very unfortunate and unexpected circumstances my OH took over as manager of the firm half way through this year, but its been a difficult year, and he has still been paying for his ex boss, (who is very ill), also he has re-instated everyones overtime which had been cut for the last year, as they all work so hard, and do the hours even if the didn'y get paid.
Anyway the upshot is after a very surprising meeting with the accountant,there is not a lot of profit this year, and instead of the 8k minimum we were expecting, we will probably get about 3k.

The problem is the extra £5k was going to pay off an overdraft, which I did not even include in my debts (its £2K ), and the rest was going to pay towards my mortgage O/P s.
We should still cover our basic mortgage payments so its not a catastrophe I know, but I just feel like we are back to square one.
We have booked and (thank goodness have the money put by for) our first ever family holiday abroad, but now we will have no spending money for it.

I just don't know if we will be able to make any O/Ps anymore.
The only good news I have had is the £2k overdraft (A+L) is free until next Jan and then after that is only £5.00 PM with no interest charges, which is thankfully much cheaper than I thought it would be.

I feel a bit silly that I did not include the OD in with my debts, but all the way through the year I had no idea we would be in this situation.

OK, I think that is enough feeling sorry for myself now! Hope everyone has a good day

evab_2

Sorry things are not so good but will you be able to pay off the overdraft with the 3k and that leave you 1k? I'm not able to make any OPs at the moment but as long as the bills are paid and we have food on the table then I know we are OK. I've had to retell myself that paying off the mortgage is achievable but it is extra and sometimes we have to take a step back.

The thing I've also learned (and I'm not being critical in any way x) is that we can't rely on bonuses and extras until they actually hit the bank account so we have to budget for every eventuality.

I hope you manage to turn the situation into something positive and look forward to your holiday x

Best wishes eva

newgirly

Thanks Eva, I know we shouldn't rely on the dividends, but OH has had them for the last 22 years!
Also I should have mentioned that we have already had the £3K in advance, which paid for the holiday and the final balance on our car loan.
One thing I am very sure of though is we will NOT be getting in any more debt, we will just have to make a few more cut backs, and earn a bit more:)

evab_2

Ah I understand now, OK so truely pants then! My hubbie hasn't had a bonus for 2 years now not sure when that will restart as they're still closing quarries so he's lucky to have a job.

Just keep hitting that overdraft it will be frustrating but it will go eventually x

newgirly

OK, I have decided to post my new total debt.


Old total figure owing £ 170,067



New figure including 0% overdraft £172,067:mad:

Theres not much else to say I think!

greent

you'll get there eventually ((hugs))

newgirly

Ok, I am feeling a bit more positive now as nothing has been decided definatly with DH's shares yet, possibly it may not be as bad as i thought, hopefully we will know more later this week, fingers crossed!

Something else that has cheered me up is I have just been on the Chelsea building soc. website and noticed their 2 yr fix has gone up from 3.49% to 3.99%. I have just fixed for the lower figure last month, and the difference is £49 per month :eek: I can't believe that 1/2 % could make that much difference.

I have also spoken to the chelsea about what would happen if we wanted to move in the next 2 years, basically they have changed their rules for taking overtime into account, so we only just qualify for what we owe now!
Still I had to ask as I have been wasting far too much time on rightmove and have seriously itchy feet at the moment.:)

Need to focus on being a better MFW :A , have done three surveys today and now have enough on lightspeed to get my first £10 on paypal, Yipee :T

newgirly

Hi everyone,

I have had an ok day today, Am tired now though as I keep waking up at 4.30 am when DH goes to work, its beggining to catch up with me, so apologies for any mistakes.

• Todays little bits done towards being MF:
• Did my first you gov survey, fairly quick one 50 points
• 10p one poll
• VO 110 points, and screened out of 2
• lightspeed -forgotten how many points
• weekly shop, came in 45p under budget of £55, don't think the 45p will last for another 6 days!
• went to laura Ashley and looked at the wallpaper i wanted but did not buy, will wait for the next sale
• started looking for little gifts for dd party bags, got 8 body sprays for about £3.50 the lot
• bought hair dye, will colour own hair and even cut my own fringe:eek:
• had a very cheap dinner of value marmalade on toast, too tired for dinner
• tea instead of wine:A
• think thats it

hope everyone had a good day

newgirly

Hi, hope everyone has had a good day.
Ithought I'd pop in quickly before going round Mum's for dinner.
Have not managed to get much done today except lots of ironing, and the usual to-ing and fro-ing with the kids.
I did spend some time looking at bathroom suites online as our is very old, and is now leaking in three different places! I noticed water dripping down the kitchen ceiling in a different area to the last leak! The kitchen ceiling will have to replaced soon as the damp has caused it to sag and crack
I really don't want to spend a lot, and luckily DH has fitted bathrooms quite a few times for work, so it will just be the cost of a cheap suite. Have seen a couple for around £350 including the taps which seemed pretty good, will carry on looking for a while I think.
Then its just the tiles to buy.
Right I'm off for dinner, have a nice evening everyone:)

newgirly

I am trying to think of some new ways to make money at the moment. The house really needs some work doing to it, and I don't want to use any money we have at all, as i want everything to go towards the mortgage free goal.

Ideally I would like to work from home, I was thinking of trying to start a very small selling business on Ebay, I know there is masses of competition, but thought it might be a way of starting out without too big an outlay.

I wondered if anyone else has considered doing this, and if so how did it go? My initial thoughts were of maybe selling jewellry beads and charms, or plus size clothing. I have found a few suppliers online, but am just not sure whether to take the plunge or not.
So any opinions would be gratefully received



I don't seem to have had any surveys for the last few days, not sure whats going on there, just unlucky I suppose. Still need to get selling on Ebay, and have a loft full of goodness knows what, mainly my old clothes that don't fit any more! Also have a shed that needs clearing out, its so full we can't even shut the door now:o
I think I will have to brave the spiders, as DH is going to start working weekends for the next couple of months.
The money will help, as we don't have any to take on holiday, but I really don't want him working seven days a week.
The kids are a bit of a nightmare at the moment, we have been doing one piece of homework for about two hours this morning, and there is still another two pieces to go. Unfortunatly they have a really busy week this week or I would spread it out and do some after school.
So I've told them to go and play for half an hour and then we will get back to it, but for some reason both of them can't concentrate today.Shame they can't be more like my DD who does her homework straight away, and seems to enjoy it!


I think I might go and make some dough in the breadmaker and do pizza for lunch today, hope everyone has a great fathers day