Ginger Beards Quest To Be MF

Ginger_Beard

Hello all,

I'm going to hop onboard of the MFW train, and join you lot, I hope you don't mind.
I've been viewing the forum for some time now, but I've only just decided to venture onto it. I've been using the main site for some time now too.

My fiance and I bought our first house in Dec '09 for £192,000, we had a mortgage of £144,799. We opted for a 2yr fix, for 3.69%, and went for a brave 30 yr deal :embarasse. You live and learn!

After 11 months we had £1100 in the bank, so we decided to pay it into the mortgage before the first 12 months was up. Our first OP! :T
However, my OH decided to go back to Uni in Feb '11 to become a nurse on a 2 yr accelerated course. So, we've not made any more overpayments yet, as we want a good bit of money behind us, just in case. So, we've put all extra money into a savings account, and we intend to do another OP before the 2 yrs are up.

We're currently swaying towards doing a 2yr tracker, to bring our total LTV % to below 60%, so we can benefit from the best deals out there, and then go for a longer morgage deal. In 2 years my OH will hopefully be back to working full time.

I owe my OH £3,499 for a car she kindly lent me the money for. I'm paying her back £200 pm. She's a fantasic saver and is in no rush for this money, but I do want to give her the money as quickly as possible. I also have a £1007 on a 0% credit card, which is due to expire in June '12. I'm planning on continuing paying £200 off that a month too.

My company has had a bid for it, which has been accepted, but it's not all confirmed yet. If it confirms, my shares will benefit massively! I'll have I the region of £16,000 at end of March '12. So, I plan to pay off all existing debts with that money, and put as much as poss into OPs.

I've been hugely motivated by numerous diaries on this forum, far too may to mention, but Museum Worker and Courgette's have caught my eye in particular, so thank you for inspiring me to do this.:T
I'm using this as a document for me to work on clearing my debts and becoming MF. If people decide to read it, add to it, help me, or like I have, get inspired then it's a fantastic bonus!

Thanks for reading and wish me luck......................Let the quest begin!

CathT

Good luck! Be warned, it's addictive

Ginger_Beard

It's go time!

I've been busy lately putting various items on Ebay. I took a risk last week.................Some of you that receive Martin's weekly email might have seen the Soap and Glory items worth £85 going for £35 in Boots online. I bought 2 of these, and have whacked the first set on Ebay to see how they get on. They have had little bids so far, but I put them on last Saturday for 10 days, so we'll see how it goes. I'm prepared to wait to put them on in a few months as well if needed, when it gets a little less competative. I'll keep you posted with overall profits when I'm done.

I put in total 25 items down in the last 10 days, 11 of which were Soap & Glory, the rest were DVD's, games, and other stuff lying around the house doing nothing.
I sold 2 DVD's so far for a total of £10.50 :j (it's a start!)

All of this cash will go into the saving's account to pay off debts or make OP's.

I do the virtual pot challenge every week as well, but I usually cheat (in the good way) and put 10-20 quid rounded up to make the savings that much better.

I'm quite new to car booting and I'm planning on picking up some bargins this Sunday, I surveyed the area last week and didn't buy anything, but I'm planning to step it up this Sunday, so I'm quite excited to see how I get on.

My job is commission based too, so I'm putting all little extras into savings. My annual target is due to finish in Sept, so hopefully I'll get my annual target.

yukkibear

Good luck on your journey

Ginger_Beard

Thanks Cath T!

I have been reading your posts as well which are very motivating.

I think I'm already hooked.

museumworker

Aw thanks ginger_beard, am honoured to be considered an inspiration, and mentioned in the same breath as Courgette, who is one of my MFW idols !

Wishing you all the best for your MFW journey - it is very addictive!!

Ginger_Beard

Thank you YB and MW. I really appreciate it!

I will continue looking at your diaries for inspiration.

dimbo61

With your G/F at uni/nurse training you may well be stuck with the follow on rate so check that out by reading the paperwork ( mortgage )
Once she has finished her training /degree you may well find you have the pick of the mortgage market so consider an Offset mortgage

originalmiscellany

I like your name Ginger Beard - I immediately think of the dwarf from Lord of The Rings though, which may or may not be taken as a compliment
As you say, reading about real people saving is massively motivating and somehow brings this topic to life - well done on your steps so far

Secret_Saving_Squirrel

Good luck, you sound as if you are very much committed and having a supportive saving oh will help you hugely. Hope the eBay gamble pays off!

Squirrel

Ginger_Beard

Thanks dimbo for the advice, I will certainly look at an offset option after OH's degree!

originalmiscellany - Thanks for the compliment! I'm not offended by by dwarf image, yes I'm 3 foot 11, but that doesn't make me a dwarf, I'm very secure about that.
Credit to you for your overpayments though. Very impressed with 30k overpayments in one year. I don't even earn that in a year! Which reminds me, I must speak to Lord Aragon tomorrow about my salary.

Squiral - Thanks for the wishes. My OH is fantasically supportive, and I'm a very lucky man. I will be reporting my gamble next week. I have 10 items ending on Ebay today, and as it's free listing weekend, I'm going to see what else I can find around the house.