Trotting along nicely - my MFW diary

Ayeshalush

I have been meaning to start a diary on here for ages, but have never quite got around to it. So, today I've finally bitten the bullet.

A little about me and my mortgage - I have a lifetime tracker mortgage with the Woolwich at BBR+0.19% due to finish in Sept 2025 :eek:. I can make overpayments without anyvcharges or restrictions. My balance at 30/04/2011 was £26912. My standard monthly payment is £173 (reviewed Oct-ish), however I pay £300 a month, i.e overpaying £127. Any additional overpayments I want to make, I pay into a savings account as the interest rate is better at the moment. The balance at end of Apr takes into account the money sitting in this account. If the situation changes I will, of course, pay the money straight into the mortgage account.

So far in May I have managed to put an extra £71.50 into the savings account bringing my overpayments YTD to £1779. Projected end date is now Dec 2018.

I am 41 and single and would really like the mortgage paid so I know that, whatever happens, the roof over my head is paid for. (For my sins, I am an accountant and not very keen on risks and very much like security:o).

I am very concious of the money I spend and try to earn a little extra here and there (ebay, surveys etc) and save where possible, except for the couple of extravagances detailed below:o). I could cut back a good bit more on certain things and manage to overpay more each month but, having seen family members deal with serious illness over the last few years, I want to enjoy my life while on this mfw journey.

So I suppose I better confess right from the start what my extravagances are.


The first is my skincare. Despite my advancing years I still suffer with bad skin and therefore treat myself to a monthly facial and high end skincare as it makes a huge difference to how my skin looks and therefore my self confidence.

The second is my horse - well he's not mine (I wish he was), I loan him, but between livery costs, lessons, rugs, shoes, etc, he costs me about £250 a month. I only took up riding 4 years ago but absolutely love it and I would be loathed to give it up. (Any horse related money saving tips gratefully received. He's on grass livery and hard feed is included so I don't need to worry about the cost of hay/haylage or feed).

I read a number of the diaries on here and get loads of inspiration from you all, however I rarely post as I feel that no-one 'knows' me and I don't like to intrude. Hopefully now that I've 'revealed' myself I will feel more able to contribute.:o

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Radish72

Welcome to MFW and be warned it gets addictive

Post away here and other threads and you will soon get used to the madness

Lois_E

Hi Ayeshalush.

I've recently started a diary too. Everyone's very supportive and helpful, as you know already if you've been lurking for a while. I'll look forward to reading yours. It sounds like you've made great progress on your mortgage so far. Have you got into spreadsheets and OP calculations yet? It's so satisfying to see the effect of the OPs.

[Deleted User]

Hi there and welcome!
Great idea to start a diary- definitely keeps you motivated!
I too agree life is too short - none of us know what is around the corner and whilst security and the roof over your head is of course important, not at the expense of living a life whilst paying off the mortgage...
No tips on horse related moneysaving Im afriad- I think there are a couple of people who know about horses tho (DansMum springs to mind!) who might be able to help
Re facials etc.. ditto - Some local colleges have places attached that do treatments much cheaper if this would be an option for you- also I have found amazon etc. sometimes sell the nice products (I use dermologica - expensive but worth it!) cheaper than in the salons... mights be worth a try

Also useful to post an SOA if you can (statement of affairs detailing outgoings etc..) as it might help to see if there are any other savings to be made..

Ayeshalush

Thank you Radish, Lois and TYO for your warm welcomes and encouragement.

Lois - being an accountant I am a dab hand with a spreadsheet and have several that I use to monitor my mortgage and my finances. If I ever lost my spreadsheets I would be devastated. :eek: - I'm actually having palpitations at the thought - better do some backing up as it's been a while!! Will be checking out your diary too - I find reading other people's diaries so motivating and I'm hoping that keeping my own will keep me focused as well as having a record of my achievements.

TYO - I'm already a regular lurker on DansMum's diary - being relatively new to horses (4 years) I'm still very much learning so any horse related diary is a must for me! None of the very local colleges do beauty treatments and the one's further afield are not really any use to me with working full time and the horse. I do however look for the best prices online for my products (Decleor and Elemis - have used Dermalogica in the past and was very impressed at the time - can't remember, though, why I stopped using it) and buy through cashback websites where possible. Will check out Amazon.

I wasn't really planning on putting up an SOA as I know that there are areas that I can cut back on but I don't really want to pare everything back to the bare minimum as I want to pay off as much as possible without it becoming a chore. That's not to say that I won't post one at a later date if my mindset or circumstances change. I am however pretty on top of cheapest suppliers for insurance, utilities, phones, etc as I regularly check these.

I do complete as many surveys as possible to earn extra cash, or Amazon vouchers which I use to buy birthday/xmas presents. I also use a BT Credit card to pay for all my purchases throughout the month to earn cash back against my phone bill. This card is paid in full every month by direct debit. I have just today got an Amex card (better cashback rate) so will be using that instead of the BT card where possible, so it may be possible to bundle my tv, phone and broadband now - it wasn't any cheaper before. Will look into that over next couple of days. I also batch cook from scratch and freeze and try not to waste any food. One area I could work on is the heating - I have it on too much as i don't like to be too cold. I do try but, to be honest, my attmlpts are a little half-hearted.

Although I haven't been writing a diary, or posting in others very much, I have been lurking for quite some time and gained lots of tips and useful info as well as motivation.


Well, I think that's enough rambling from me for one night - I am off to catch up on other diaries and maybe make a few posts.


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linz

Hi Ayeshalush,

Welcome, as the others have said. You're just over 10k ahead of me, am inspired now to get into the twenties like you !

Ayeshalush

Thanks linz for posting and welcoming me.

I know compared to others my mortgage is very small but it just never seems to go down that much!!.. that is the main reason for deciding to post a diary to keep me focused and to be able to read back and see that I have made progress.

Tasks for today are:

1. Complete as many surveys as are available to me (that I don't screen out of anyway!!)
2. Validate my new Amex card so that I can start earning more cashback asap.
3. Buy tickets for Royal Highland Show - not money saving, but I've been meaning to do it all week and it's a great day out. They are a little cheaper if you buy them in advance so there is a little saving aspect to this task, lol!:D
4. Take photos of items to ebay - the pile has been sitting on my computer table for months!! Now I've written it down on my to do list - IT WILL BE DONE!:o
5. Read and post on other MFW diaries.
6. Ironing - not money saving but I need to keep on top of this as I have far too much clutter in my house, and the ironing pile is a major part of it. I am (very) slowly getting on top of the clutter but need to up the ante a bit as I'm swithering over moving house and getting the house ready to be viewed would be a major job at the moment!!

Think that will do for the moment.

So far today I have

1. Received £2.99 interest on my savings account (mortgage overpayments account) for April.
2. Completed sponsored polls and attempted all available surveys on Toluna.
3. Complete pure profile survey for £0.50.

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Iris_Blue

Hi and welcome,

Well done on biting that bullett and posting. Most of us don't bite..only some.

I'll look forward to reading your diary

Ayeshalush

Thanks for posting and welcoming me Iris Blue.

I am a secret lurker on your diary too so will make a point of being not so secret any longer.:D

Have validated my Amex card so can now start spending on it, what can I buy?!! Oops, shouldn't be thinking that - this card is to help me make money through cashback NOT spend!! Mind you I still have to buy tickets for RHS so will go and see if there website accepts Amex. (:o My excuse is that I need to spend on it asap so that my cashback for applying for the card £10.10 is approved!!)

I completed my knitted Peppa Pig last night and it turned out much better than I expected. I had planned on putting it aside as a little extra for my neice's xmas but my nephew caught sight of it and wanted to take it home. I didn't even get chance to take a photo of it. At least I know that it is being appreciated by someone as I wasn't overly confident that my SIL would appreciate a knitted gift for her daughter. Next project is a crocheted Mario for my nephew as he is Mario-daft!!:D

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AuntieMabel

Hello from me too :wave:,

I have only just started posting on here too, after lurking for YEARS . I've picked up so many good tips, and they're right - it is addictive!

I know what you mean about your horse and your skin care. If these are your 'things' then, fine, go with it is what I'd say. It's not about giving up everything you like and having no fun, but doing the most with what you've got. Life is meant to be lived

I have subscribed to your diary, and look forward to seeing your success

wantabetterlife

Hi Ayeshalush, great to see you have started your own diary :j. I have also been trying to get back into ebaying, but i just hate the listing process. Not sure if you realised its free listing this weekend.:D
BTW i went for another follow up laser appointment on teusday..both eyes have improved and i can read another line down with the left eye.......still not 20/20 yet thought...have another review in 7 weeks, you never know they may improve another bit.

I also agree on that you have to live a little whilst on the MFW journey as life is very precious and we only get one go.

Have a good weekend