Mortgage Free in Three Yrs

taka

shazzany wrote: »

Well as of today I am resigning from my teaching job so I can spend time with my daughters while they are little. :eek:

I feel quite scared by the massive drop in income but I couldn't have done it if we hadn't been overpaying our mortgage and I do know it's the best decision for us as a family. I keep telling myself I won't get their early years back and I can always re-start my career later....

So for now I have at least 2 yrs (apart from doing occasional supply work) of being with my girlies and getting up each morning knowing I will be enjoying their company. It also means I will be looking for lots of ways to make a little bit of extra money. I already do survey sites, pigsback and am dipping a toe in mystery shoppping but any other suggestions welcome! Thankyou!:T

What about tutoring? I don't know what ages or subject(s) you teach but would it be a possibility - particularly in the evenings when your OH could look after the wee ones so no childcare issues/costs?

angelavdavis

Congratulations Shazzany on your progress and its good to see that you are able to reap the rewards with your change in lifestyle.

I have found paying off the mortgage has enabled me to quit working away from home and my quality of life has quadrupled.

setmefree2

shazzany wrote: »

Well as of today I am resigning from my teaching job so I can spend time with my daughters while they are little. :eek:

I feel quite scared by the massive drop in income but I couldn't have done it if we hadn't been overpaying our mortgage and I do know it's the best decision for us as a family. I keep telling myself I won't get their early years back and I can always re-start my career later....

So for now I have at least 2 yrs (apart from doing occasional supply work) of being with my girlies and getting up each morning knowing I will be enjoying their company.

I'm sure you won't regret this decision. They do grow up soooo quick. When you are at home you have the time to make savings too (a pound saved is a pound earned and all that). You won't need expensive work clothes, lunches, travel expenses either so I'm sure there's savings there. Nor will you have to pay any tax

Good Luck with your plans

TallGirl

I agree paying down on the mortgage gives you more flexibility can also help out when things get tough. My DH has his own business supplying the manufacturing industry. He has been going for 20 years but now they are starting to make a small loss each month. He has put some staff on part time but 1 person wont do it so he might have to go.

Really horrible but if we had had a huge mortgage things would have been a lot worse. I had actually partly given up on being MFi3.

But then today some good news my mum has decided to give me £6500 to help out as she is not earning much interest on her investments anyway. I am chuffed as it means we can pay off our offset loan and will be left with a mortgage off £6500. That means MF at Christmas if DH does not have to take a further pay cut :j:beer::T
Will take a few days to come through but will be a nice way to celebrate our fifth wedding anniversary on Thursday.

shazzany

taka wrote: »

What about tutoring? I don't know what ages or subject(s) you teach but would it be a possibility - particularly in the evenings when your OH could look after the wee ones so no childcare issues/costs?

Thanks Taka.

Unfortunately my OH works long and unpredictable hours( anywhere between 9.30 -am- 10pm- He's a teaching golf pro) so it would be difficult to me to tutor. My in laws don't mind having the kids in the daytime for a day at a time now and then so hopefully that would work with doing supply days. I also saw on Matthew Wrights show someone mention exam invigilation as a good earner so am going to look into that. Also helping at polling stations on polling days maybe. If I can pull in an extra £150 a month from various means I would feel I was doing ok and that would mean money for clothes/ meals out etc.


Thanks AngelaDavies and Set me free for your comments too!x

:T

angelavdavis

TallGirl wrote: »

I agree paying down on the mortgage gives you more flexibility can also help out when things get tough. My DH has his own business supplying the manufacturing industry. He has been going for 20 years but now they are starting to make a small loss each month. He has put some staff on part time but 1 person wont do it so he might have to go.

Really horrible but if we had had a huge mortgage things would have been a lot worse. I had actually partly given up on being MFi3.

But then today some good news my mum has decided to give me £6500 to help out as she is not earning much interest on her investments anyway. I am chuffed as it means we can pay off our offset loan and will be left with a mortgage off £6500. That means MF at Christmas if DH does not have to take a further pay cut :j:beer::T
Will take a few days to come through but will be a nice way to celebrate our fifth wedding anniversary on Thursday.

Great news TG! Good ole Mum eh!!!

Trying_to_be_good

shazzany wrote: »

... I also saw on Matthew Wrights show someone mention exam invigilation as a good earner so am going to look into that.

My 77-year-old ex-teacher MIL does exam invigilation.

Last year, she was horrified when she saw out of the corner of her eye one of the pupils moving around with a mobile phone in his hand. A very fast chastisement later and she got the reply, "Mrs xxx - I'm one of the teachers now.".

ailuro2

He still shouldn't have been playing wtih his phone during working hours, though!!:p

minimoocow

Where is everyone? No posts for 6 days - you must all have been out enjoying the sunshine!!!

Just to say keep going with it everyone - we are nearly there now!!!

gallygirl

I'm still here, slaving away, mystery shopping, not spending (much ), looking at graphs & plotting my escape

But right now I'm packing as going on holiday Thurs night :j