Mortgage Free in Three Yrs

setmefree2

Trying_to_be_good wrote: »

I'm sure my luck will change soon!

Ttbg - cars they are a pain :rolleyes:

TallGirl

I totally agree it is difficult to make payments over the normal overpayments. Mind you we have spend over £500 on golf clubs this month. I have not posted the chart again but thank you for the updates I got. Next update is mid October.

Desperate_Housewife_2-2

Trying_to_be_good wrote: »

Hi everyone - how's it going?

I'm getting a bit demoralised at the moment, as although I'm making my 'normal' overpayments, I'm not able to pay any extra off - this week my car broke down and has cost over £300 to fix, plus £45 air con recharge. It cost over £400 in February and over £100 last month. I'm not going backwards with the challenge, just not going forward as fast as I'd like. I anyone else seeing money just disappear at the moment? I'm sure my luck will change soon!

Don't worry too much, at least you are paying more off and every little bit helps towards the end goal. I never underestimate the power of a penny as they all add up to make a pound! I count even pennies towards my goal and when I have a tenner just pay it off!

I have spent a lot this month, last week it was like someone had turned the light on at ms Havershams house! We have decorated the front room/dining room, the 2 kids bedrooms and the spare room! I have spent the money I would have used to pay off the mortgage this month but it needed doing! I've just paid off 100 quid this month and will pay more next month.

Have you looked at your budgetting? I have a monthly savings pot and save every month for hols, dog, car, xmas food, xmas pressies, shoes for the kids, glasses, dentist, cat tax, hairdos, birthdays, professional fees, anything that comes yearly really and it feels great to have that money there come the time you need it. It took me a while to get this going but now I have it up and running it is worthwhile and helps me on my greater goal. Also woth thinking about is saving a bit for January, it is a lean month as you tend to overspend at xmas and have to wait a long time for payday too so keep it in the back of your mind.

Good luck

Trying_to_be_good

Desperate_Housewife wrote: »

Have you looked at your budgeting?

Good luck

Thanks, Desperate Housewife. Sounds like your house has been properly freshened-up!

Part of the problem is that my 'normal' budgeting is so good, I now mentally consider my overpayments as 'normal'. I transfer money monthly to my Bills savings account for all non-monthly purchases, including car tax, MOT, servicing and extra for repairs, it's just the repairs this year have far outstripped the expected! I've bought even less clothes/shoes to compensate in a small way, but will need new footware if it keeps raining so much!

Feeling better today - managed to change a light bulb in the car ceiling light, which stopped the radio working so I figured it had blown a fuse, and managed to change the fuse to get it all back working again. Not bad for a girl... They give you these funky little tongs in the fuse box to take the fuses out - saves the finger nails!

Desperate_Housewife_2-2

well done ttbg! Its good that you have mended it yourself as it all saves money.
Is there any way you could shave a bit off your food budget? I always look at that first if I want to make a saving. At the mo I am shopping for fruit and veg at Aldi as they have some cracking offers on every week.

We'll all get there eventually, I have had my ups and downs on this challenge and I have to remember that I owe far less than I did when I started out. Sometimes you can't see the wood for the trees and we have around 8 months left to go so there is still time to make a dent!

Trying_to_be_good

Thanks, Desperate Housewife - I'm doing a bit of a storecupboard week to help with the car spending. I don't have cheap supermarkets near me, but can make the spend more reasonable if I try.

I knew my luck would change - a new cash buyer has put in a good offer for my flat, so as of this evening, I should be back on the legal journey of selling and buying. Here's to hoping this time it gets to actually moving!

minimoocow

hello all,

I'm still lurking just not posting much as been very busy and enjoying being mortgage free . . . anyway I'm now in a quandry as foolishly I've been looking on rightmove and seen my dream house and now we don't know what to do!!!!

Buying it would mean we wouldn't be mortgage free anymore and we'd need 2 salaries (well 1 and a bit for a couple of years until we could reduce the mortgage again). We've always been able to survive off 1 salary before so this is a bit of a major issue for me added to the fact I'm not getting any younger and if we are going to have kids will need to do so in the next few years.

BUT, if we did buy we would never have to move again and we'd effectively be missing one rung of the ladder out, its an ideal location, 4 bedrooms possible granny annexe for the future etc etc but if we then couldn't have children (never tried!) we'd be rattling around in a big family house. And if we did I'd have to go back part time at first whereas now I wouldn't need to work (not sure if I'd want to work or not but now I have the option then I wouldn't!) And what if house prices continue to fall? . . .

I so don't know what to do - I know we need to make a decision ourselves but please help!!!

dawnylou

Tough decision.... Hope you work out which is the best one!! x

Me and my hubby decided to have a gamblig night on Friday just for something different. Cracked open a bottle of red, made a chinese and deposited £25 each into Gala Casino..... We took out £61.10 PROFIT! So we took our £25 each back and the £61.10 cleared into our bank today so called and paid it off the mortgage along with £22.50 for a couple of mystery shops

ailuro2

Minimoocow - do you have room for kids where you are?

Is the new house or your current house in the best area for the best school in the area (this is how far you have to think ahead)

Is it commutable from your Dh's workplace?

Could you rent out the granny annexe to earn a bit extra towards the mortgage if you were stuck for cash?

If you did fall PG in the first years when you were 'having' to work, would you be OK with leaving any babies with a childminder/nanny/nursery?

Think with your head, not your heart or your wallet on this one.

Good Luck!

setmefree2

Trying_to_be_good wrote: »

I knew my luck would change - a new cash buyer has put in a good offer for my flat, so as of this evening, I should be back on the legal journey of selling and buying. Here's to hoping this time it gets to actually moving!