My MFW diary to reduce mortgage as much as I can

linz

Well it's the start of a new year so thought I'd updade my diary.

we are down to approx £22,400 now, once this months payment comes out. Just making small overpayments at the moment as we have been saving for a newer car. Should hopefully get it later this month, a more economical diesel which should bring my fuel costs down by about a third

Since the last update we have finished the garden patio area. Partner worked really hard doing it on his own and we're both really pleased with it. We also got a new carpet throughout as downstairs was laminate and the upstairs carpets needed replacing. It's been really cosy over Christmas

Thankfully we 'overpay' into the bills account by about £200 each month so the majority of the carpet money came from there. We just had to find the money for the fitters. We're really pleased that we managed to get new windows and doors, a new patio and new carpet by taking the excess from the bills account and not having to use our 'own' money iyswim.

This year, hopefully Feb-Mar time, we will be replacing the boiler. It's still the original boiler and is now 19 years old so it's done well but we want a combi one which will free up the cupboard in the spare bedroom which we will convert into a wardrobe.

After that we are going to replace the kitchen cupboard doors. Frames are ok but doors look dated. The kitchen is tiny so we are looking into space saving ideas and how to make the best use of the small space we have. Once the new cupboards are done, as well as new worktop and sink unit, we will rip up the remaining laminate and tile the hall, kitchen and downstairs loo. Also going to get the remaining third of the loft boarded and a new loft door and ladders to save having to traips upstairs with the stepladders lol. Seem a company who can fit ladders and a new hatch for about £200.

Wine making still going well. This year we are hopefully going to do more foraging too. I bought my partner The Thrifty Forager book so we will learn more about what we can pick to make use of.

Last year I really began to enjoy the simple, inespensive things such as walks, picnics, berry-picking. I also started to see that the small overpayments really do make a difference, especially now we are close to the teens. Once the newer car's bought I think we will carry on overpaying smaller amounts and build up our S&S ISAs a bit more as they are doing quite well at the mo, touch wood. I am also thinking of putting a lump sum into my works pension. Once the base rate rises we will re-assess. Thankfully the mortgage interest is 2.5% so only paying about £1.55 daily interest.

Bye for now and Happy New Year.

mortgage_girl

Wow - it sounds like you had a productive 2013 and know what you want to achieve in 2014. It sounds like your home is going to be fab by the time you've finished with it.

I know what you mean about starting to enjoy the inexpensive things - i've found that by consuming less i've appreciated more.

Good luck for 2014!

MGx

Bad_Weather

Had to comment that I love this diary! Very inspiring! This is the way I eventually want to be! I am on a long slow road but taking baby steps!

Do not care what anyone thinks - they mock but willing to bet they are jealous! I know I am!

Keep the updates up - Love it!

x

linz

Thanķs BadWeather, do you have a diary? Glad my ramblings are able to spur you on in some way!

Well we got my new car last weekend and the mpg is much better. Am hitting the mid-60s a lot of the time and its probably going to work out about £30-£40 a month cheaper in diesel. The outlay was expensive of course, but hopefully it will last years and I was starting to worry that my old car would start costing in repairs and replacement parts.

I love driving it. Ive never had a car with cruise control and the ability to stream music, oh, and heated front seats! It's only a 1.4, but one of these ecodynamic diesels. Technology has advanced a lot since I last bought one

Anyway, my savings are delpeted now so ill be spending a few months building them back up so we can replace the boiler. Thankfully our bills are pretty low with the double glazing. We only have the heating on for about an hour in the morning and an hour in the evening. Also my partners dad bought us a halogen oven for Christmas which saves using the oven (and cleaning it ) and is meant to cut the cost of cooking by 40% I think?

House insurance, tv license and internet package all up for renewal in March. We are on a basic package with Plusnet but the speed is dire and we can't stream stuff half the time. We are thinking of seeing what Virgin has to offer but don't want to be paying for a large tv package as freeview is enough for us.

Anyway, I'm rambling. Bye for now!