Craftingmad's NEW diary to Mortgage Free Freedom

getmore4less

We know that savings would give us a better rate but we wanted to clear our mortgage as quickly as possible in order that we may start up our BTL houses. It just felt better having a smaller mortgage to start the proposed long term investment off with.

But that just means you ended up borrowing more on the B2L and now you are even considering remortgageing, no way you will get a rate as good as you had.

Not good financial planning you could have been funding some of this B2L business at 1.6%

earthgirl

Good luck on your quest, it sounds like you are really doing everything you can to reduce your mortgages! I will be reading your diary and urging you on!

craftingmad

Hi fellow MF's and thanks earthgirl for your kind words.

Well I feel like I have had a really good couple of days doing little bits and bobs to help with the larger picture.

Yesterday

1. NSD for me or hubby.
2. Entered 2 competitions on pigsback.
3. Sorted a few more bits for carbooting.

Today

1. Entered 4 competitions on pigsback.

2. Arranged for the collection of some embossing folders for my die cutting machine which I ordered from Create & Craft a couple of weeks ago and tried out but decided to return - that will give me £112 (plus I'm hoping postage refund of £2.99 as they did not work as well for me as they did on the TV) - I ordered before I starting Moneysaving again - I promise. Will add this amount to the saved pot once it is credited.

3. Collected my money from items sold in a local shop (I cannot believe I forgot to mention this - about a week and a half ago a lady who was opening a nearby shop to sell handmade items and who I met a previous craft fair, asked if she could stock my items on a sale or return basis - which I happily agreed to). I was amazed when I collected £50 from her today - this is all my money as she has already taken her percentage from the sales. £50 from my handcrafted items being sold in a shop for less than a week. I cannot believe it (oph sound like Victor Meldrew).

4. Been beavering away making more things to be sold in the shop whilst I am holiday and also ready for a craft fair I have booked for the bank holiday weekend when I return from holiday.

5. Was going to buy a beach bag to take on holiday with me but done a swap with my friend whos a brilliant seamstress and she has made me the most gorgeous bag I have ever seen in return for a few bits & pieces I made. Result xx

Well better go again - bags to pack and things to make before Thursday!!

craftingmad

Hello again everyone,

Well I'm back from my holiday and ready to go again. We completed on our BTL house yesterday so I am now the official owner of two properties (and two mortgages - eeeehhh!).

I'm really tired after our flight home and nearly did'nt go to the craft fair today - however I remembered my new found vigor to become MF and got out of bed and went. I made £50.25 profit after stall costs etc so I'm glad I did.

I took too many clothes with me on holiday (again) and feel really proud of myself as I purposefully did not wear some of my new items I purchased and left the tags on so I'm going to try and return these after I have finished the craft fairs I have lined up for the next couple of days. That should add a bit more money into the saved pot (and then ultimately the deposit fund account!). We also did'nt really spend that much whilst on holiday (apart from a couple of souveniers for the kids best friends, parents and the people who looked after the cat) so thats quite good as well.

Plus the really big news is that my stall at the craft fair today was next to a stall jam packed full of lovely craft goodies such as decoupage sheets, stamps, punches, card blanks etc and I did not spend one penny on it. I must be a reformed crafter!!! Actually there is still two days to go so maybe I should'nt count my chickens!!!!!

I'll be back tomorrow to report how the craft fair went xx

Peonie

Good luck with your journey, and a new property is exciting. I think you said the house is not ready to let, what renovations are needed?

I have been enjoying reading about your little craft business, do you only do paper crafts? I sew on occasion, in fact that's what I should be doing now.

hermum

Hi, just having a little nose around at diaries, you are doing really well.
Do you do shop & scan? Not a huge amount of money but am easy £1.60 a week plus any extras on surveys they send out.
You can sign up on Volunteer 4 panels.

craftingmad

Hi everyone,

Sorry for not posting for the last couple of days. I was busy with the craft fairs plus a mountain of dirty washing and dust which happened during the holiday!!! Back down to earth with a bump!! The good news is that I did not spend any money on the craft supplies stall next me for the whole three days - I'm well chuffed!!! Maybe I am reformed? I doubt it - once a craft addict always a craft addict!

Good luck with your journey, and a new property is exciting. I think you said the house is not ready to let, what renovations are needed?

I have been enjoying reading about your little craft business, do you only do paper crafts? I sew on occasion, in fact that's what I should be doing now.

Thanks Peonie. The house just needs decorating but other than that is ready. MY BIL who is also going to be our tenant is going to move in and then decorate himself so they are moving in on Saturday. We are going to collect the keys for it tomorrow - I'm really excited, if not a little scared at the prospect of two mortgages! The keys will be handed over tomorrow evening and we will get our first months rent on Friday 1st Sept. All going well so far - fingers crossed xx I do mainly papercrafting but also try my hand at a bit of sewing, jewellery making etc.

Do you do shop & scan? Not a huge amount of money but am easy £1.60 a week plus any extras on surveys they send out.
You can sign up on Volunteer 4 panels.

Hi hermum, I have tried signing up for shop and scan before but never heard anything else from them after the application form. I have just registered on Volunteer 4 panels though as suggested (thanks) so fingers crossed I might hear from them soon. Every little helps does'nt it.

Heres progress reports for last few days from me:-

Sunday 28th Aug

1. At craft fair all day - earnt £81.50 after costs etc
2. NSD for me
3. Made a couple of craft items for orders taken at above craft fair ready for sale tomorrow

Monday 29th Aug

1. At craft fair - earnt £62.75 after stall costs etc
2. Sorted through holiday clothes to see what I could take back
3. Enterted 3 pigsback competitions
4. Made 2 notebooks ready for next craft fair

Today - Tues 30th Aug (so far)

1. Returned some of the clothes not used on holiday - refunded £56 to account
2. Paid in money into account from craft fairs ready to transfer into savings account
3. Went through direct debits and cancelled a few for magazine subscriptions which are no longer required (or can renew to get free gifts)
4. Made 2 more notebooks ready for next craft fair
5. OH was going to go to Tesco's to get something for dinner but I stopped him and we are having something from freezer instead (should save at least a £5) - do need to go to the
supermarket either tomorrow or Thurs though as not much fresh fruit, veg or milk left!
6. Exchanged euros left over from holiday back to £'s and paid money into account ready to be transferred to savings.

Sorry for whittling on but I have to share this last bit with you now as I'm soooo proud of myself - I checked at the bank today to see how much cash was left before payday and there was just over £1000 so that will be being transfered over to the savings account asap along with the money earnt from the craft fairs and mystery shopping this month by me. Plus the account which I normally use for my craft supplies has a balance of nearly £400 (which has never been heard of before as I used to spend all this money on craft!) which can also be transfered into the savings account shortly.

BaconandEggs

Hi carftingmad,

Have been reading your diary with interest. My wife is also a craft addict. She has a craft room full of..... stuff. I've no idea what half of it is for/does but it keeps her happy. What sorts of crafts do you concentrate on? Do you manage to sell much of the things you make?

craftingmad

Hi all,

AUGUST END OF MONTH TOTALS

Regular monthly savings amount £1000
Transfered into savings account - £1645 (this is from savings to grocery, household bills, cutting back spending etc, earnings & excess wages)
Interest gained for August £15.20

TOTAL ADDED TO ACCOUNT IN AUG £2660.20

It looks great to see it actually written down like that and really inspires me to have another good month in Sept!

Baconandeggs

Thanks for reading my diary. Us crafters are complusive purchases and every crafter always has a room full of stuff so your wife is not alone. I mainly do papercrafting and have just starting selling my little bits and bobs at craft fairs. I put a small mark up on my items and they sell quite well but I never make a massive amount of profit from them and I hardly ever charge for my time to make them. I don't really think you can make a massive amount of money out of handcrafted items - I think if you ask any crafter they would say the same - however the way I look at is that I have this whole room stashed full of crafting bits and I may as well sell some of the things I make in order to a) give me a little bit of money back to fund my hobby & b) clear some of the stash from that room to keep my OH happy. I love crafting and it really is a passion of mine - I play when the kids have gone to bed to relax and unwind me and so if I can get a bit of money back whilst doing something I love then I'm happy xx

cazmanian_minx

Oh cool, you're back I had your old diary on subscription, will look forward to seeing how you get on - looks like you're going great guns so far!