Double Trouble - Nothing by halves

gilligansyle

I love the fact that you are feeling so good with yourself and your world. That means more than anything.

Hope your Christmas has been a good one, and you have had a chance to relax before the birthday event and New Year.

Double_Trouble

Relaxation has been the order of the day. Probably a bit too relaxed as I have still not sorted the birthday cards and cakes!

DTxx

Karmacat

No no, we'll go for that, I like the sound of "relaxed" :T:j

taxi73

relaxed sounds perefect to me

Double_Trouble

My body may be relaxed but my mind isn't I am plan hatching as usual and doing a lot of research the final CC will be cleared the end of April and there is not a lot I can do to bring that forward so my mind is moving forward to the next debt the mortgage which as far as I am concerned is a debt like any other:(

My mortgage is in two parts the greater part being interest only 190K the rest which was £55K is repayment (I am waiting my annual statement and expecting this to have dropped a fair amount due to normal payments, slight monthly overpayment and offsetting). the repayment part will be repaid by April 2018 I want to bring this forward if possible to September 2016 this will be a big ask and until I get the exact amount outstanding I don't know if this is doable. The reason being that will be when the little ones start secondary school and we either have to move or pay for private education as I am not prepared to send them to the local secondary school and getting rid of that part of the mortgage will give us more options.

The interest only part I want to clear by April 2023 in fact it has to be cleared by then as OH will then be 75 the upper age limit for our mortgage so this has been the part I have been mulling over. Of course we could repay it by downsizing or selling our property in Lanzarote but I really would like to take a bash at clearing it by alternative means to leave all options open so I intend to self manage a stocks and shares ISA starting November 2012 with the intention of investing the full amount each year in medium to long term investments. In order to prepare for this I have been researching over the last few weeks and as from 1st Jan intend to paper trade for 10 months to see how it goes and also to ingrain some habits which will be necessary if this is to be successful the first being a trading plan which I am in the process of honing. I am still trying to decide whether to blog my progress (in which case I need to research blogs too ) or whether to keep an offline diary either way it is essential I keep a regular journal to chart my progress.

So that is the reason why I have not been posting too much reading to do

Other than I nice lottery win I can't see any other way I can repay a £245K mortgage in 11 years on our present income levels so I am going to give it my best shot with the knowledge that there is a plan B if it fails

DTxx

Hopeful1

Oh wow DT! That's some serious thinking you've been doing there. I wish I could offer some helpful advice but it's all way over my head I will offer lots of support though and will be really interested to see how your journey goes. It is a brave challenge you are setting yourself, but as a mom I fully get the reasons why. We'd move mountains for our children.

Good luck!

Karmacat

Wow, DT. We definitely need to communicate! For me, this is great news - The problems I've had with not getting trading have not been about the information I've gathered, they've been about my own fear, which I've almost conquered - I've also done a lot of research about how to research companies, and by next November, I *will* also be wanting to do this. With you all the way.

gilligansyle

Wow DT!! Some big decisions there, and as regular income is not the way to go for you, maximising what you have and making it work for you is a good way to go. You want to do as well for the little ones as you did for the older ones when money was better and have obviously had your thinking cap on.

As with KC, I don't even pretend to understand it, have never had the sort of income where it would be worth considering, but will be watching with interest.

hypno06

The fact that your body is relaxing means that your mind can be more productive in its own planning I reckon.

Your plans sound very sensible, and not impractical to me.

I am sure that 2012 will be a year of consolidation for many of us, and i look forward to sharing it with you again xxx

Double_Trouble

Thanks guys for your interest do you think it would be worth blogging the journey as it is not really a suitable subject for a debt free wannabee diary? Although I shall continue to do that too although probably not as much as the trading will have to come first.

Before anyone gets the wrong idea DT is not becoming a DT (Day Trader) I really don't see with the expenses involved how you can make a profit doing that at least for most people and also I do have a real life and can't be glued to a computer all day (although with MSE and a certain game on FB I do spend a lot of time on my lappie )

I really like the idea of a stocks and shares ISA because of the tax advantages and the fact that it won't complicate my tax return most of my income now is either tax free or has already had tax deducted before I get it ( I know thats how PAYE works but because I dont have a wage slip and it is the company that pays the tax somehow it feels tax free ) so anything that avoids paying tax to the government is fine by me and I am an avoider not an evader before anyone flames me :eek:

On other news although OH and I agree that we won't exchange expensive gifts at Christmas I give him a nice bottle of red and a ticket to Autosport International he will buy me books, choc and smellies which are nice but not essential so this year I had a word in my daughter's ear and I am now the proud owner of a new kindle which I love I did have the kindle app on my PC so already have some books so I am one very happy bunny and OH just had to get it when in Mr T's so no hassle for him I have treated myself to a cover and the thought of not having to carry lots of books when I go on my hols and paying inflated prices for books when I get there as I never have enough is very satisfying :T

I have sorted the cake, just need to get cards now so I am getting there bought my foster child a coat in Mr. T's sale but other than that there is nothing I want or need so no sale shopping for me

DTxx