Freedom At 50!

BlueMoo

southerndave wrote: »

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SD - I have to admit to really struggling with mortgage free / MSE recently and even keeping it simple! Trying to strike the balance is really hard and at the moment sometimes it seems relentless - you get so far forward and think this is alright and then a couple of bills or unexpected's come in, or you need to splash out on a holiday or on something for the house etc, and you're sliding back again.

Part of me wants to say sod this, get a fixed repayment mortgage and so long as the payments go in each month, to hell with it. We owe nobody nothing, we pay all our bills as they are due, we dont drink much, we dont smoke, we rarely go out, we holiday sensibly, we save into pensions and savings and yet we always seem to be fixated on scrimping and saving more.......am I the only one getting like this? Sometimes I think I read too many 'good idea' books and philosophies for my own good....

Hi SD,

Have read through your diary, and congrats on all your achievements so far. Simplicity is the key :D

Re: the quote above, yes, sometimes you do want to pack it all in and just think well at least I have a house and can afford the mortgage. In my case, what keeps me going forward is the choices I want to be able to make for the future - getting the 'dream' house, perhaps starting a family, being able to work part-time or do a job I really feel passionate about.
For others it may be that dream of retirement, travelling around the world, private schooling, helping out the grand/kids with a house deposit.

We're all human at the end of the day, and sometimes it is a struggle (I think my fMiL thinks we are poor as church mice for example and sometimes it makes me feel a bit awkward) but I think if you can loook forward to something, it makes it all the more worthwhile.

sweetdaisy

southerndave wrote: »

Thanks for comments.

SD - I have to admit to really struggling with mortgage free / MSE recently and even keeping it simple! Trying to strike the balance is really hard and at the moment sometimes it seems relentless - you get so far forward and think this is alright and then a couple of bills or unexpected's come in, or you need to splash out on a holiday or on something for the house etc, and you're sliding back again.

Part of me wants to say sod this, get a fixed repayment mortgage and so long as the payments go in each month, to hell with it. We owe nobody nothing, we pay all our bills as they are due, we dont drink much, we dont smoke, we rarely go out, we holiday sensibly, we save into pensions and savings and yet we always seem to be fixated on scrimping and saving more.......am I the only one getting like this? Sometimes I think I read too many 'good idea' books and philosophies for my own good....

Chin up Southerndave :grouphug:. Had you written this post a few days ago I would be agreeing with you all the way as I felt like quitting this MFW malarkey. After a few wobbly days (mainly because I am struggling with work too) I've put things back into some sort of perspective.

There will always be times when there are unexpected bills, things go wrong etc, however having some savings behind you makes these big expenses easier to deal with.

Also, the way I see it is that being MF will give me more choices in terms of what I want to do job wise, hours I would like to work than it would if my mortgage continues to it's original end date. I don't want to have this mortgage hanging over my head for the next 13 years.

My MFW journey feels like it is going full steam ahead at times, then dramatically slows down. What motivates me is seeing the mortgage term reduce as each months saves me a mortgage payment of £750, not to mention all the interest the bank won't get it's hand on . It is a slow process, but I know it will be worth it in the end.

newgirly

Hi SD, just wanted to say I feel like that from time to time. Although I have been on the mfw board for 3 yrs now its Definatly been peaks and troughs . Sometimes when I start to spend a bit it kind of makes me want to spend even more if that makes sense. You are used to being careful and then splash out and remember what fun it can be.

I have no advice except I would continue with your diary, you joined for a reason and at that time felt it was a worthwhile thing to do, you may feel a little differently in a few weeks or months and relish the challenge again, don't give up just yet

Ps. Not sure what op calculator you use but I love the one on the top of page 16 of the op calculator sticky at the top of this board, its posted by Amanda40, you can add one off as well as regular payments.

southerndave

Many thanks for all the kind and thoughtful remarks, all appreciated. Still struggling. Been tough few weeks, son in and out of hospital (not ill as such but under scrutiny), my wife due in hospital for a minor op too, bad time at work, miserable weather. And now the house has joined in.....computer packed up, shower packed up, 3 large bills coming at once.

And whilst I am loving my new car, now I have a nagging doubt it was a dumb thing to have done and will plunge us further behind our MF plan.....

If an when I get time this week, I need a few clear thinking hours to clear my mind and address things and see what my/our options are and where I/we go from here MF wise and budget/money wise. Decisions, decisions.

gallygirl

Sometimes you just need to grit your teeth and get through it Dave and this sounds like one of those times. Plenty time ahead to plan. Your family's health is what matters, and your car is probably the equivalent of a few years takeaways and daily Starbucks so don't be too hard on yourself.

MF sooner while life has been on hold or a more balanced approach which takes a little longer? Bit of a no brainer :T.

southerndave

Thanks again GG....

I have just done our paperwork/accounts for the month and no suprise its a bit of a step backwards, ouch!

Slipped back by little under £1.5k and pushed the mortgage free date forward to October 2024, still nearly two years early but bit depressing. There are a few bills to come out still, although I have had some extra work so I hope they cancel each other out.

The car was inspected and as expected she needs some work, enough to mean I need to sit and think wether to use her and then cut my losses and pass her on OR take the plunge and invest a bit of money to put the basics right and then work on the rest over time OR to cut and run now, take the profit and the planned expenditure and look for something better or more practical for the same money, although that again will then become an unknown quantity and may well be in the same condition if I buy unwisely.

I hate deciding stuff like this! Keeping it simple equals cut and run and buy nothing else, which is another option, but not as attractive as the others I have to say!

edinburgher

Hi Dave, hope you're having an improved Sunday after your recent worries.

The family health thing is one that we'll just have to wish you the best for, as these things are outwith our control. Mrs E is just about finished recuperating from a minor operation and I think I was more worried than she was!

Re. the finances, you've taken to this MFW lark like a duck to water and once you've 'found religion', every step away from the goal (whether it's backwards or sideways) feels like you're letting yourself down. That, coupled with your strides in frugality sound like you've made quite a few changes over the last year?

I know just how you feel, but a slight wander from the path shouldn't make you feel like giving up on the trip Nothing wrong a with good wobble, but whatever you're doing, it's a hell of a lot better than nothing.

I will stop now, running out of trite phrases

southerndave

Thanks ED!

Put the xmas decs up yesterday. Doesn't feel very Xmassy though. Year's gone too fast. Everything bought except food stuff, so nothing else to get pressie wise. Time between now and then is mostly going to be spent at work mainly. Looking forward to hols for the rest....

southerndave

Seems like an age since I posted and it feels like this month has been never ending....where to start?

First the Jag. Beautiful car, really beautiful, but although I only bought it to use occassionally and to have fun with, the reality is the work required to put her straight and through another MOT is beyond my means. I could do the work myself but having spent years DIY mechanic-ing and restoring a couple of Landrovers, I dont want to spend weekends laying under a car in all weathers. So with heavy heart but sensible head she has gone to eBay and sold today a little less than I paid for her (assuming she is collected of course......).:undecided

In the meantime and through contacts in the newly joined Jaguar Club, I came acorss a 1999 Jaguar S-type in very good condition with full service history. The money I had earmarked for working on the other one secured it, and with a years tax and mot, I now have a working (at the moment) Jaguar!:)

There are as ever, ramifications. One is that our account looks like its been broken into....:eek: Its all I can do to look at the moment. The cars coupled with other expenses have, to be frank, kicked the cr*p out of it this month and put us right back. MF has for the moment been put on hold.

Money and cars aside there are now issues at work. Why can't this stuff come one at a time? Major management changes are afoot and current changes in my particular department have effectively undone most of the things I have done in the last year, which is a little bit demoralising to say the least. I only ever took this job on as self-employment was becoming more sporadic. Now I have the chance at 'plenty of work' for self-employment into the new year which would pay far more than I earn now but is not guaranteed and obviously there is the after that question, so I am at a real crossroads.

Do I keep dragging myself out of bed and into a job that is grinding me down and looks like it will only get worse? Do I chuck it in and go back to what I was doing three years back and hope its sustainable? Look for something completely different? Start my own business, if so doing what?

Sorry for the rambling, slightly moany post just kinda thinking out loud. :cool:

newgirly

Hi SD sorry it's not going well at work, what a dilemma. Do you have a savings fund to fall back on if you do take the plunge and go self employed again?