MFW Small Steps to Massive Strides Diary

edited 30 November 2012 at 9:20PM in Mortgage-free wannabe
19 replies 1.4K views
ShesLoadedShesLoaded Forumite
12 Posts
edited 30 November 2012 at 9:20PM in Mortgage-free wannabe
In two years time, our little family need to move to the next village for the sake of our daughter's education. She will be three by then and it will be time to get her name down for a school...schools are a lot better in that village as are all the child type facilities...swimming pool, parks, libraries etc
My family also live in the next village and it will be nice to be nearer to my aging mother.

Our house only has £10'000 of equity in it. We need at least £30'000 of equity to have a decent deposit for the new property. The houses in that village are approximately 10 - 15% more expensive than homes here.

So that is our goal...£20'000 extra paid off the mortgage during the next two years - by November 2014.
That's £10'000 a year...and the graft starts here!

I am a sahm and a part-time degree student and I must find ways to make extra money without needing childcare; make the money that we do have work extra hard and focus on making the next two years frugal...yet happy and fun.

This is my diary...my motivation...my kick up the bum if I start slacking. Feel free to give me any tips...my first job is to devour these MFW boards and absorbed all the wonderful information and vibes from people that have been sucessful before me.

The long term plan is to pay the mortgage off in ten years (2023) but for now...small steps are the way forward.

If you do have the energy or inclination to read...or add to my diary please feel free...it will be much appreciated. :)

Love Lizzy x x
Failure isn't a known word to me - O/P: £110/20'000:T
7/52 :j
Mortgage was: £182'500...Mortgage is: £160'673

"Let me tell you something. This is my playpen, and I get the last word." Judge Judy
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Replies

  • It may not be much...but I am going to over pay £10 right now, just to get the ball rolling. It's a small start...but it's start.
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
  • Day 2 - Progress

    *Well today has got off to a great start. I claimed £5.23 from Asda Online Guarentee that will go towards next weeks shopping.
    *I listed two items on Ebay.
    *I gave a bag of unsellable clutter away on Freecycle.
    *DP rang up to cancel Sky...they offered us Sky for £5 a month for the next three months. We shall then cancel it for good in Feb. That is a saving of just over £20 a month.
    *Had a lovely bath this evening...but only filled it half full.
    *Cooked meals from the stores...haven't bought any food top ups today.
    *Have done £1.60 of polls today on O*ePoll...they were coming in thick and fast yay. Running total is now: £20.60
    *DP worked one hour overtime.
    *Put Asda shopping App on phone...ideal for perusing bargains at leisure.
    *Bought a pack of nice birthday cards (10) from Ebay for £1.79 + P&P each card cost 25pence. A lot cheaper than the normal £2 I would spend and other than that I didn't spend a bean.
    *Signed up for the 30 day free trial on Net Flix.

    Busy day otherwise; tidying, decluttering, writing lists to do for the next few weeks, finishing my assigment for Uni, taking little one out for a good walk whilst bird and !!!!!cat spotting.
    I have lots enthusiasm for this mortgage slashing at the moment...I just hope I feel like that when the frugal lifestyle really starts to kick in.

    Well Coronation Street calls...have a great weekend folks. x x
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
  • Nearly forgot to add...also got all the Chrissy decorations out...yay! Only 25 days to go. :D
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
  • museumworkermuseumworker Forumite
    2.2K Posts
    Part of the Furniture Combo Breaker
    Forumite
    Hello Lizzy, and welcome to the boards! Sounds like a great first day, well done. If you are brave you could post a Statement of Affairs and let us all make comments on it. I assume you have a savings pot in place.

    Just wondered how you were going to mark your savings - will you OP the amount you have saved? I find that a great motivator as it is money I wouldn't have had in the first place.
    Mortgage [STRIKE]16/03/2011: £190K 01/01/2017: £107,729.65 [/STRIKE] 01/07/2017: £95,979.89
    OPs 2011-2016 = £45K 2017 OPs = £9250.20
  • Thanks for the reply Museum. :)

    We will overpay the mortgage using money left over from DPs wages after all expenses and savings deposits have gone out as well as money from Ebay/Polls/Cash Back sites/Car Boot sales/Amazon; 50% of any cash gifts; overtime worked by DP; board paid by teenage son (ho ho ho gotta have a sense of humour about that one) etc

    We were £14'000 in debt but have paid this off during the last two years...so our SOA is already at clean and tidy minimum. Sky was our last outstanding "luxury" and as of March that is toddling off too. However I probably will put our SOA up at some point as a fresh pair of eyes is always beneficial.

    I am currently working through the MSE site for further tips on making more money...or making what money we have work better. This morning I have already sent a letter off to Legal and General regarding my DPs old mortgage endowment as he believes he was mis-sold it.
    I have checked DPs tax code on the tax code checker...it is right so no joy there. And I have sold a small pair of cabinets there were stored in our shed for £40. So we are still heading in the right direction.

    Shall update more later today...have a lovely weekend.

    Lizzy x
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
  • edited 1 December 2012 at 7:37PM
    ShesLoadedShesLoaded Forumite
    12 Posts
    edited 1 December 2012 at 7:37PM
    Okay today's MFW progress continued...

    *Checked banking - £16 refund has gone into account.
    *Semi-dried washing online and then finished off on radiator rather than use the tumble dryer.
    *Free bag of potatoes off Auntie...Waitrose sent her the wrong ones.
    *Spent £4.90 on shopping top ups. Now need to las until FRiday for Asda order...no probs! Walked to the shops...free exercise and good fresh air for the little one.
    *Start using up Diet Chef soups that I was given by my mum. She gave me ten soups like week (they have garlic in and she doesn't like them) so I had them for lunch with a baked 'free' potato.
    *10p on One Poll
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
  • Okay today's MFW progress continued...

    *Checked banking - £16 refund has gone into account.
    *Semi-dried washing online and then finished off on radiator rather than use the tumble dryer.
    *Free bag of potatoes off Auntie...Waitrose sent her the wrong ones.
    *Spent £4.90 on shopping top ups. Now need to last until FRiday for Asda order...no probs! Walked to the shops...free exercise and good fresh air for the little one.
    *Started using up Diet Chef soups that I was given by my mum. She gave me ten soups last week (they have garlic in and she doesn't like them) so I had them for lunch with a baked 'free' potato.
    *10p on One Poll...
    And that's about it. x x
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
  • newgirlynewgirly Forumite
    8.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Hi shesloaded, welcome to the mfw boards! Have you thought of joining one of the overpayment challenges like the mfi3 one, where you set a target and update? There was a 2012 mf challenge thread, I'm not sure if it is set up for 2013 or not yet but might be worth looking in to, best of luck.
    2022 MFW 67 - 33 month challenge to clear mortgage, month 3 completed and on track 🙂MFI3 No.12
  • HelenDaveKidsHelenDaveKids Forumite
    3.2K Posts
    Part of the Furniture Combo Breaker Mortgage-free Glee!
    Forumite
    Yes, welcome to MFW, good luck with your journey.
    Morgage till Nov 30 GOAL MFW Sept 2016
    Aug 11 - £100k Aug 2016.... It's GONE!!!!!
    2014 GOAL HIT 5 Stone! 2016 GOAL to be a MF marathon runner.
    "A goal without a plan is just a wish"
  • Day 3...

    Thank you NewGirly...I shall definitely join when it is up and running for 2013...the motivation will be great if or should I say when I start flagging. x x

    Thank you for the warm welcome HelenDaveKIds...;)

    It's only 9.30am on day three and I have already been uber productive.

    ...I dried the last bit of soggy cereal in the microwave for DP's brekkie. He didn't notice. :T
    ...repaired daughter's cardigan rather than bin it. She had accidentally ripped a button hole and torn the wool. Only took two minutes to sew and you cannot tell.

    ...paid Tesco's credit card in full. I use this to buy monthly shopping and pay up fully every month. You get points for spending on it. I actually prefer to buy groceries from Asda or Lidls for bargains but Tesco's is okay for the odd carton of milk or loaf of bread.

    ...I have sold a DVD on Amazon. That's £2.99 for the O/P pot when it clears.

    ...I have ten watchers on one Ebay item (it has only been online for 12 hours) so hoping that goes off for a decent price.

    ...and best of all, £100 over payment on the mortgage this morning via internet banking. Whoop whoop...we are on our way.

    I hope you all have a lovely Sunday folks. x x x
    Failure isn't a known word to me - O/P: £110/20'000:T
    7/52 :j
    Mortgage was: £182'500...Mortgage is: £160'673

    "Let me tell you something. This is my playpen, and I get the last word." Judge Judy
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