Go Lily Go - Paying off the mortgage

lilyp

I have lurked around here for a bit and asked a few questions (thank you kind MSE peeps for your lovely help) and I am itching to start my diary.

I am 33 and live with my boyfriend who is wonderful in many ways but not with money. He is trying bless him. We have been through financial hell together from day one of our 3 years together. I had my own business and the recession made it tough going. My BF also worked with me. Earlier this year we packed the whole thing up and both got jobs. I am really struggling with working for others, all the !!!!!y office politics etc but I do love seeing that weekly pay cheque.

I have 2 mortgages - one is on 46k and has 12 years left. Ive posted in another thread about how this one is actually in my Dads name and on his property but I pay it off. He already forces me to over pay £50 a month.

The other is £50k and is actually just a way of consolidating the last of the business debt and some of our personal debt. We should have it all sorted by the solicitors in a week or so. I still need my accountant to give me final tax figures for the business so I have no idea if we will have any of that money spare or whether there will still be a few debts to pay. As we cannot op for 2 years I am leaving that one alone and focussing on mortgage number 1.

We need to sort out an emergency fund too - I am really hoping that there will be money left over from mortgage 2 for this so I can just crack on with op mortgage 1.

I am currently putting £200 a month into an ISA plus extras from Ebay sales etc. I have £844 after 2 months so I am really pleased with myself. BF also saves the same in his ISA but that is also the car fund so gets dipped into from time to time.

I really cant wait for all the final figures to be in, all the debts to be gone and to get cracking with this. Im hoping this diary will be motivation.

Lily xx

alwaystryyourbest

Good luck to you.
good to see a new diary on here...

lilyp

Just had a heated conversation with BF about how we shouldnt be wasting our 30s scrimping and saving we should be out living. I see his point but I dont want to work until im 70 to just have a standard of living. I think I am definately on my own with this

I used to be very frivolous with money and 2 years living on the verge of bankrupty has changed me completely. I am sick of struggling.

This week has not been great. Its been very very stressful and we have both been smoking and drinking to relieve the stress - quickest way to empty the bank account. We are planning on having a nice weekend together and sorting out the house and fingers crossed the mortgage and accounts are sorted next week so we are no longer living in limbo

lilyp

seem to have more than I need in my bank account so £25 transferred to ISA giving me the grand total of £869. Hoping I take it up to £1000 when I am paid on Friday.

edinburgher

Just had a heated conversation with BF about how we shouldnt be wasting our 30s scrimping and saving we should be out living. I see his point but I dont want to work until im 70 to just have a standard of living.

You have to do both!

It's impossible to aim for a goal that's decades in the future without some taste of enjoyment and relaxation today. At the same time, nobody can work forever (regardless of what the government wants).

Try aiming for generally good habits, with occasional really nice treats/trips/whatever makes you both happy. It takes time to claw your way back to a healthy balance.

Hoping OH sees your points a bit more over the next week.

HelenDaveKids

Show him the OP calculator, and how much interest you' save. Works for me!

lilyp

I agree we need a balance. I think because I have always been carefree with cash the scariest thing about the near bankruptcy of the last few years was that I was in my early 30s with nothing to show for it. Now I have an oppurtunity to be safe and settled and dream of a nicer house or financial freedom. I never ever want a baliff knocking on my door again. When we have all the debts settled I will show him the mortgage calculator and hope he gets on board.

Still smoking. Major stressful day at work. We are quitting Monday. We really need to quit properly. Being in limbo while we wait for all the debts to be settled is a bit difficult. Its hard to describe but because we dont know what our financial situation will be in a few weeks we end up misbehaving knowing we intend to be sensible and grown up soon.

Having said that I have just paid £131 into the ISA taking it to an even £1000. I really hope I dont need to touch it and it will be my first £1000 overpayment.

guesswho2000

HelenDaveKids wrote: »

Show him the OP calculator, and how much interest you' save. Works for me!

Completely agree! My OH sometimes moans about money, but the one thing I won't move on is the mortgage op, soon as I remind her how much better off we'll be in the long run she gets back on board

I, too, am a bit of a lurker when it comes to the MFW board, but I'm on the case myself too!

lilyp

Ive signed up the the MF in 3 years challenge. I think last night I worked out we would have to op £600 a month to do this. That isnt impossible but means I would have to try to raise £300 by other means each month. I have a garage load of stuff to Ebay and I am having a think about an extra job. Maybe dog walking or pizza delivering etc

I also remember a programme a few years back called How to pay off your mortgage in 2 years. I googled it but there is very little info on it. I was hoping to find some on youtube as I never saw the follow ups. I remember finding it really inspiring and I have always dreamt of being able to do the same. Nows my chance

lilyp

Such a nice Saturday. Pottering around and not spending too much.

Our house had become a tip recently and we had a good clean up and ive photographed some stuff to list on Ebay tonight. Only trouble is we have lost the cable to connect the camera to the laptop. BF is currently rummaging through the spider infested understairs cupboard to find it because I refuse to go in there. :T

Our living room is a bit of a funny shape and we have tried all kinds of tables that work but they all make it look cluttered. A quick trip to the tip today and we found a lovely little folding table that is perfect! Nearly didn't buy it as tip man wanted £15 for it:eek: but we bargained him down to £10 at least and we should get at least that for our old on on Ebay. It was filthy and I spent a happy hour scrubbing away all the grime.

Afterall our hard work I was tempted by a takeaway but BF has promised to cook steak and chips instead. He is being a bit of a star today :A

muddywhitechicken

Hi lilyp

If you haven't found the camera cable, are you able to put the memory card directly into your laptop? I have "hole" (can't think of the right word!) next to where I put discs in.

MWC aka computer numpty!