MFi4 wannabe

patrick_bs15

Hi.
Been lurking round this mortgage board for ages and have decided to join in because I think I'll feel more guilty if I don't stay focused on OP the mortgage.

Strictly speaking, I won't be MFi4: I want to clear my existing mortgage (just over £36,000) so that I can take out another relatively small mortgage, allowing me to have a small 2 bedroom house with a garden so that I can get a dog!! (definitely not realistic in my cramped 1 bed 1st floor flat at the mo)

I am a (single) primary school teacher and despite the 2 year pay freeze on teachers' salaries / inflation / increase in pension contributions / increase in income tax (!) I reckon 4 years is a realistic time scale. Have overpaid by £25,000 in last 3 years, so am not new to this.

Am very grateful to others for useful hints, e.g. would never have thought of completing surveys etc. to earn money.

Will keep you posted. Aim is to sell flat / move to a 'proper' home in Spring / Summer 2015.

P.S. Anyone read 'how to survive on a pound a day'? (coincidentally about a Bristol teacher) Well worth a read, even if the authors tips are aimed at childless, urban money savers

dimbo61

it helps if you read all/most of the words of wisdom from the god that is Martin
Cashback CC card, quidco when shopping online and all the other tips on this website

patrick_bs15

Just read Tiniker's post, in which someone shrewdly pointed out the formula used to calculate daily mortgage interest...

Mine is £2.95, which is relatively small, but it still makes my blood boil that my bank is making money out of me by doing nothing :mad:

Am just about to spend money in order to save money (if you know what I mean!) - washing machine died ages ago and have been using launderette - which involves expense of driving there / back as well as rip-off charges. Any recommendations for cheap/reliable washing machines? (Can't believe my life has come to posting stuff like this on an internet forum! )

IHateDida

patrick_bs15 wrote: »

Hi.
Been lurking round this mortgage board for ages and have decided to join in because I think I'll feel more guilty if I don't stay focused on OP the mortgage.

Strictly speaking, I won't be MFi4: I want to clear my existing mortgage (just over £36,000) so that I can take out another relatively small mortgage, allowing me to have a small 2 bedroom house with a garden so that I can get a dog!! (definitely not realistic in my cramped 1 bed 1st floor flat at the mo)

I am a (single) primary school teacher and despite the 2 year pay freeze on teacher's salaries / inflation / increase in pension contributions / increase in income tax (!) I reckon 4 years is a realistic time scale. Have overpaid by £25,000 in last 3 years, so am not new to this.

Am very grateful to others for useful hints, e.g. would never have thought of completing surveys etc. to earn money.

Will keep you posted. Aim is to sell flat / move to a 'proper' home in Spring / Summer 2015.

P.S. Anyone read 'how to survive on a pound a day'? (coincidentally about a Bristol teacher) Well worth a read, even if the authors tips are aimed at childless, urban money savers

Hello! There are a few on here trying desperately to pay off our (rather large in my case!) mortgages! The best piece of advice I have received on here is to get a mortgage pig - just a simple piggy bank which will swallow up any lose change and put it in a highy visible place to make you feel guilty enough to keep putting money in it! As soon as I know our pig has at least £10 in it - I count it, pop it in the bank and make an OP online to the mortgage. The mortgage pig has helped us save quite a bit of interest!:j

IHateDida

patrick_bs15 wrote: »

Just read Tiniker's post, in which someone shrewdly pointed out the formula used to calculate daily mortgage interest...

Mine is £2.95, which is relatively small, but it still makes my blood boil that my bank is making money out of me by doing nothing :mad:

Am just about to spend money in order to save money (if you know what I mean!) - washing machine died ages ago and have been using launderette - which involves expense of driving there / back as well as rip-off charges. Any recommendations for cheap/reliable washing machines? (Can't believe my life has come to posting stuff like this on an internet forum! )

Our interest is ....£17.70 a day :eek::eek: (which made me nearly faint last week when I calculated it!).

Washing machines - I have heard Zanussi ones last ages and ages (my Aunt's gave up after 20 years!!) - so a 2nd hand one that you could pick up cheap should last a good few years!

abouttimetoo

Hi Patrick, welcome to the MRW board and congratulations on the great progress you have made so far.

Re washing machine, I would echo IhateDida's comment, me and mother swear by Zanussis and Hotpoint's are good too. Don't forget to check out sites like Topcashback and Quidco if you end up making the purchases on-line - in fact check them out for any purchases you might be making.

Best wishes with your MF plans
Regards
ATT

linz

Patrick, you could try your local Freecycle for a washing machine, its amazing what people chuck out. May even get a good make WM.

(or Gumtree/ebay)

patrick_bs15

Many thanks for your replies.

IHateDida : I'm such a tightwad that I already have a 'coin sorter' in my bedroom,of all places... (it's one of the first things I see every morning!) I really enjoy doing my Ebeneezer Scrooge / Silas Marner impression and watching the coins gather up - am about to stash some in the bank next week, during the holiday

Trouble is, I like playing cards (brag) with mates once in a while (i'm a bloke first, sensible teacher 2nd!) and some of that stash is going to be gambled away, no doubt!

adwat

Good luck with your overpayments. It sounds like you're really organised and focussed. Washing machines... We bought an LG direct drive last year which is absolutely the best machine ever. Bit pricey at about £400 but 5yr parts guarantee and massive load size of 11kg which is great as we don't need to run a load every day any more. But if you're ultra-frugalling things then Freecycle can't be beaten, I'm always amazed at the things people give away.

mummalove

Hello and welcome!!! Good luck on your jouney

adwat wrote: »

Good luck with your overpayments. It sounds like you're really organised and focussed. Washing machines... We bought an LG direct drive last year which is absolutely the best machine ever. Bit pricey at about £400 but 5yr parts guarantee and massive load size of 11kg which is great as we don't need to run a load every day any more. But if you're ultra-frugalling things then Freecycle can't be beaten, I'm always amazed at the things people give away.

I second that recommendation - we used to have an LG too with the 11kg load size, never had a single problem. Then we had a new kitchen installed with integrated appliances, sold the beloved LG and bought an integrated hotpoint. Had endless problems (extra insurance well worth it ) probably 1-2 call outs in the past 5 years. Bosch and Miele are 2 other good brands I would look for next time - yes, they are definitely more expensive, but worth every penny in my book.

katsu

I'm impressed with John Lewis appliances. We bought a discounted WM as it had a small dent on the front. No problems with it in nealry 5yrs use so far