I dream of a mortgage free existence

gallygirl

saver03 wrote: »

I know we spend quite a bit on holidays per year but I do shop around and get good deals. I am torn between my desire to see the world and to pay less interest on my mortgage! I know logically that putting the money to overpaying on the mortgage is the most sensible thing to do, it's just a shame I am neither logical or sensible :rotfl:

You could sell the car, as you managed before now, cut your TV package, slash groceries and have no holidays. Or you could have a life :rotfl:. I will compromise on many things but not holidays. And I will be having 6 this year . You love your hols and can afford them so continue getting vfm. Yes, you could pay your mortgage off a bit earlier - but it would probably seem longer IYKWIM. Why not set yourself a challenge to pay for hols with extra money - ebaying, using money off coupons etc. Maybe consider doing some mystery shopping, at least until you get a full time job?

Good luck

saver03

Well I have just upset myself I looked on Zoopla and the estimated value of the house is £10,000 less than we bought it for :eek: I must not allow myself to be disheartened by this as we have no plans to sell. I should just focus on the amount we borrowed and my OPs to keep me positive and motivated.

gallygirl I am so jealous of your 6 holidays!! I thought we were fancy having 2, well maybe 3 if you class an overnight stay in Edinburgh as a holiday?

Plan for tomorrow

1. Take pictures for ebay
2. Transfer all pictures to Auctiva
3. Tea plan for week so not tempted to take the easy option of sending OH for takeaway!

As my sealed £2 jar is nearly full, but can probably force a few more in, I really want to open it but then I worry that if I don't put it towards anything straight away it will go in the bank and be frittered away. I think I will give into temptation, or be a good girl and make sure it goes straight into the savings account :A

edinburgher

3.Tea plan for week so not tempted to take the easy option of sending OH for takeaway!

OH and I really need to get back into the swing of meal planning - our waistlines (and wallets) are really suffering from our recent lack of self-control while house hunting!

If you want to count the £2 coins, why not bag them and ask your OH to pay them into the account? Might avoid the temptation.

Ps. How much have you actually won on the lottery?

gallygirl

saver03 wrote: »

gallygirl I am so jealous of your 6 holidays!!

Don't be - I'm much older than you!!!! We are lucky enough to have a holiday home in Spain .

saver03

Well I am in shock, but for the good! I gave in and opened my £2 coin jar and the total was £781 :eek:

frugalfrog

saver03 wrote: »

Well I have just upset myself I looked on Zoopla and the estimated value of the house is £10,000 less than we bought it for :eek: I must not allow myself to be disheartened by this as we have no plans to sell. I should just focus on the amount we borrowed and my OPs to keep me positive and motivated.

I wouldnt worry too much about Zoopla, they can only estimate based on the average prices in the area etc.

saver03 wrote: »

Well I am in shock, but for the good! I gave in and opened my £2 coin jar and the total was £781 :eek:

WOW!!! :beer: how long did it take to save that?!

If you have the time/energy you can earn little bits by doing surveys/reviews etc. Its not much money, but since I've been on maternity leave I havent bought a birthday/christmas present because of it!

edinburgher

Well I am in shock, but for the good! I gave in and opened my £2 coin jar and the total was £781

Holy heck! You've inspired me to go and raid my piggy bank and see how many £ coins I have. Probably only a fraction of that!

saver03

It took about 17 months And this has now inspired me to do it again as just adding change into the jars is not really noticeable and it does soon add up

Must get OH to pay it straight into the bank so it goes towards something, I will be good!

Weronika

saver03 wrote: »

Well I am in shock, but for the good! I gave in and opened my £2 coin jar and the total was £781 :eek:

:T Wow! I pay for everything with credit card to get points so never have much cash on me, but I wish now I could just open a jar and find even half that much!

smcqis

saver03 wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 210.77
Partners monthly income after tax....... 1450
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1660.77

Monthly Expense Details
Mortgage................................ 500
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 110
Electricity............................. 35
Gas..................................... 35
Oil..................................... 0
Water rates............................. 18.96
Telephone (land line)................... 15
Mobile phone............................ 33
TV Licence.............................. 12.12
Satellite/Cable TV...................... 15
Internet Services....................... 15
Groceries etc. ......................... 160
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 10.83
Car Insurance........................... 175
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 10
Buildings insurance..................... 10.51
Contents insurance...................... 10.51
Life assurance ......................... 11.07
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 20
Holiday................................. 200
Emergency fund.......................... 75
OH football............................. 45
Lottery................................. 26
Total monthly expenses.................. 1668


Assets
Cash.................................... 5500
House value (Gross)..................... 89000
Shares and bonds........................ 0
Car(s).................................. 700
Other assets............................ 3000
Total Assets............................ 98200


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 76000....(500)......4.3
Total secured & HP debts...... 76000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,660.77
Expenses (including HP & secured debts). 1,668
Available for debt repayments........... -7.23
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -7.23

Personal Balance Sheet Summary
Total assets (things you own)........... 98,200
Total HP & Secured debt................. -76,000
Total Unsecured debt.................... -0
Net Assets.............................. 22,200

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

Luckily I have put down my pay as only the hours that I am contracted for but I usually do more each work, so it's normally twice as much and that is how I have never noticed a shortfall :mad: I really need to see where we can cut back so we can overpay more each months

How do you produce this? I went to the link but didnt see anything obvious. I would be interested in doing this for myself and my wife. Did you write out individual answers or is this the printed version of inputting of ansers?