Tootallulah's 2012 mortgage challenge

tootallulah

Hello All and welcome to the New Year I am late to the party but never mind that, what's the challenge?

Well last year was a bit mixed on the paying off front. My mortgage is still very high but I don't have any other debts - this is half of a good thing. I do have a fully renovated house with everything finished on the building and upgrades, I can't say that the furniture etc is done but the house is looking good.

My 12 challenges for 2012 are:

1. Mortgage down to £160,000 (not clear how it went up £18k last year,eek!)
2. Lose 50 lbs (lost 34 in 2011)
3. One two week holiday in the Far East (did this last year)
4. Six week-ends with friends (4 last year)
5. Buy a car (failed this one in 2011)
6. Rent out my London flat
7. Buy a second buy to let (madness is calling)
8. Make 12 items of clothing I actually wear
10. Grow all my summer bedding from seeds
11. Start a sewing blog
12. Keep a daily spending diary
Not the most riveting list it's a year of consolidation not revolution. If all goes well I only have 70 payments before I retire, time to knuckledown and get the mortgage under control.

afsha

Best of luck ill be watching your progresses I've just started sewing classes and look to lower my mortgage too.

[Deleted User]

Oooo new diary!
Good luck with all your challenges and looking forward to seeing your progress- what prompted the idea of another BTL?...

tootallulah

Coffee £2.20, shopping £2.37.

Hello Both. I am thinking of a 2nd buy to let as it is now or never and thinking of the future it will eventually make me financially secure in retirement, however what a bother I may just decide it is just too much to cope with. If another flat in this block comes up I will be tempted as that will be easier to deal with and manage. I know that I am not a natural landlord!

I am off to Turkey on Wednesday for work, should be interesting.

My big freezer challenge is on so some odd meals are probably round the corner.

tootallulah

Coffee £2.20, fruit £1.38, ham joint £9.25, sausages 29p, pate 59p. Madly looking up information on Istanbul before departing tomorrow. Byeeeeeeeeeeeeeeeeeeee back at the week-end

petepetepete

We're heading to Turkey for our honeymoon. Would love to hear any tips :-)

greent

ooh - new diary! Will follow this one now

ally18

Hiya tootallulah,

Just trying to catch up on your diary but you aren't here? Did you decide to retire to Istanbul instead?

greent

OK - you can come out of hiding now....

tootallulah

I am still here but was a bit thrown by someone at work recognising me which made me very uncomfortable (too many plans revealed). Anyhoo the individual has left work and I miss this old place so I am back, back, back.

So what's occurring? still have the £1000 a year coffee habit, still not conquered my driving phobia but I have furnished my house which is now lovely. In rather good news I have lost another 13 lbs, visited Turkey twice and am about to go to Morrocco with work - all v v good.

My flat is up for sale and if it hasn't gone by Christmas it will be rented out. It has been re-decorated, new tiled floors, re-wired so it is now a nice place to be in the week, and oddly enough it is much less stressful now I am not living like a saddo student.

I have booked a holiday in the Far East leaving just after Christmas, and more importantly paid for it.

So half way through the year, no credit card debt and my big holiday paid for it is time to concentrate on the matter in hand - the blankety blank mortgage. I want to be at £160k by Christmas so that means paying £2400 each month for the next six months. It isn't clear to me how I will do this but needs must. Following my one brilliant burst with Ebay I haven't done a thing so that looks my best bet. I am also obsessed by the 7 day frugal fast thread but my thread love hasn't yet parlayed into doing any frugal fasting!

gallygirl

Good to have you back Toots

tootallulah wrote: »

So what's occurring? still have the £1000 a year coffee habit

Have you 'met' Hypno? She too struggled with a coffee habit.......... and the coffee shop manager is now her 'squeeze' :rotfl:. Something you're not telling us?

Well done on the weight loss and :T to the hols