Saving £100k for mortgage, living a simple life

Courgette

PS, I've found a lovely little blog called the imagination tree, written by a former primary teacher with 3 under 5s. Lots of lovely play ideas, generally very cheap too. We made a construction site yesterday in a tub with out of date mung beans which ds2 scooped up and moved about with a digger

summerday

Great news about the tax and fingers crossed for SAHM.

Sympathies on the neighbour, we too have one over the road who we don't really get on with and is very inconsiderate. It's hard because they are around so much of the time there's no real escaping them. At one point it was really getting me so I tried to gain some perspective by drawing a large circle and sliced it up by writing in each slice different friends, family, social activities and other things that fill my life and all the pleasure I get from them, and sketched just one thin sliver as the annoying neighbour. If it starts to bug me again I just look at the sketch and remind myself how much of my life is filled with great people and experiences, and how it's not worth letting a tiny negative part of it drag me down. Might be worth a try for you too? X

earthgirl

Thanks for the encouragement with the neighbour. I have just completely avoided her, and putting it into perspective, it is a tiny part of my life.

Thanks for the 'imagination tree' website courgette, great!!

I definately want to be a SAHM. I have reorganised my finances a little, and although I had saved up enough to pay off our mortgage by May 2011, this included an endowment. The endowment is conservatilvely estimated to pay £42,500. I have sinced saved that actual money.

I had some money in savings accounts rather than actually paying off the mortgage, as the interest rates were higher. Now that the rates are not great, and our mortgage is 2.5%, I have overpaid another £28,000 to bring the total amout still to be paid to £17,000. I have savings of £28,000 in ISAs that I am not going to touch.

So all very confusing, but if we take the £48,500 endowment out of the equation and just save that for a rainy day when we want to move houses, I have currently saved £12,000 after paying off the mortgage, only I haven't actually paid it off, I have it sat in ISAs.

This means that our repayments are about £60 per month, plus £100 mortgage. We are really considering paying the whole mortgage off, but at the moment our ISAs are at a higher rate.
So being a SAHM is definately an option!

Secret_Saving_Squirrel

That is wonderful. Your hard work has really paid off. You will find too that you make a lot of savings by staying at home, not least child care but also that you are not always in a rush so you can do home cooking and search for bargains. You can also give your children time rather than expensive toys, which is always what they prefer - well, until they are teenagers. Well done.

Squirrel

summerday

Yay, well done you! I'm quite jealous really, even though I only work 2 days a week sometimes even that seems too much!

This time with your children is the ultimate reward for saving so hard all these years and you deserve it x

earthgirl

Thanks, OH is still a bit sceptical, but I remeber a time when I worked 4 jobs including the full time teaching, and regularly did 14 hour days at work. I see this as me having that time back!!

I have to see what work say when I go in for a meeting in March/ April. I think I will have to work 13 weeks (6 of which can be summer holiday) before I can leave without paying my mat pay back, but teacher finishing dates are Sept Christmas or Easter I think, so it might be less painless to take a change in my contract to part time (as little work as I can do really!), and then hand in my notice for Christmas or Easter... or if I like it part time I can always stay on.

DS1 has started 2 afternoons of preschool, a specially designed group of 2years6 months up to 2 years 11 months,and its excellent. He loves it and is learning so much. It costs £7.40 for 3 hours, but I also get that 3 hours 'back' to spend with the baby and get stuff done around the house.

I have also been wroking regularly on OHs business, and have had really good results, he is really busy now!!


We are having a bit of a snow day today. I have cut ds1s hair with clippers and I am pleased with results. I think I will buy a set with my shop and scan vouchers - these were borrowed from a friend. I have also done a bit of tidying and washing.

I have not done so well with my 2 week £80 food budget - over by £15 this 2 weeks, but I do have plenty of nappies to pay forward into next week. I have finally got my reusables on the baby, and ds1 is almost potty trained, so that should save us a lot!

I have saved money on petrol as well - trying to plan my journeys together a bit more.

The vicar has said that he will definately get DS1 into the Church school, which I am really pleased about. This means we don't have to move or pay privately for schools - this is going to be a massive saving.

I have also tidied up the back garden and got free manure from the field for my veg patch. I have ordered my seed potatos for free from farming relative.

Other ways to make money -

1.Ebay all the spare stuff this weekend incl 3-6 month clothes, travel cot,lawnmower - get rid!
2.work on OHs business

Savings -
1.Switch current account
2.organise veg growing for the season and use own veg for meals more.
3.stick to food budget.
4.Check incorrect mobile bill refunded properly
5. Save shop and scan vouchers for clippers to use on DS1 and eventually ds2!

Alchemilla

Hello Earthie! Great news and well done.

biglass

Hi Earthy-well done you! Glad you are planning to do what your heart is telling you!
Just to let you know that you may not need to "pay back" mat leave- we used to have to in NHS but rules all changed. You may find teaching is the same- simply phone HR to get the facts cos I can guarantee your boss won't know and may make it up as s/he goes along lol ! Fingers crossed

earthgirl

Hi all.
Big lass I checked and I do have to work for 13 weeks or pay back half of my mat. Pay.

Had a lovely few days enjoying time with the family. I had a bit of a sort out ad well and have sixteen things on en@y so fingers crossed for some good sales.

I have had a bit of a stressful afternoon in my meagre standard of stress as life is normally so laid back, we had some friends to play and it all got a bit frantic.,.juice on the carpet and the like. Still no harm done really I will get the marks out eventually.

CathT

Great new about the school for DS1, we hope to move in about 4 years into catchment area for outstanding secondary for DD.