My bid to bust that mortgage

Pennypincher2

Hello again, full life change, I find myself with large mortgage -£140,000, two kids and working more than full time, husband has vanished. So down to me ...

Plan: to overpay mortgage with any amount possible but really need to aim for £150.00 a month (or more when interest rates start going up). This is to enable me to reach my dream which is mortgage free by 60 (not my original dream but realistic and where I am now). I am 45 in May and have a mortgage till I am 65 and a half years old.

So I am going for - any overpay is a good overpay.

I shall save money anyway I can, am open to any ideas and will write about genius plans however poor.

On the plus side I have no other debt except mortgage and have kept it this way for one year + ...

On the minus side need to have a or a few little holidays on the cheap so I and the children don't feel like we live a life of drudgery and have at least some adventures.

Target for this year £1800 and it starts here today. :eek:

Matt_The_Chippy

Best of luck with your adventure!

Any amount overpaid gives such a good feeling of achievement. Raid the odd change pot if you have one, that was my first OP, managed to put £55 in. I felt very pleased with myself!

PaddyPaws

hello :wave:

Sounds like a challenge, you'll get lots of support on here and plenty of good ideas if you read other people's diaries. Definitely need to still have some fun along the way, the knack seems to be working out how to do that without spending loads of money

Some people do a SOA (statement of affairs) and the really brave ones post them so that others can make suggestions how they can spend less. I'm not one of the brave ones :rotfl: (I have done this at home and used a lot of the tips on here to cut costs)

Good luck on your journey
PP

joedenise

Remember small payment all add up. Things like rounding down your bank account to nearest pound, £5 or £10 and then transferring the odd money. You could do this daily or weekly - or if you're like me whenever you think about it, LOL.

Denise

Secret_Saving_Squirrel

Very good luck to you, it is not easy on your own, but the upside is that you can make exactly your own choices about when to save and when to have a treat!

muddywhitechicken

Good luck on your MFW journey

MWC

stedwell

Hi PP2, good to see you back and posting although sorry to hear you are now battling your mortgage on your own.
Lots of luck in your new challenge. I am still plodding on. My overpayments may have to stop soon when DD1 goes to uni in October but I will keep on until then. Look forward to your posts. :wave:

Pennypincher2

Hello end of January update (!!).
Managed my first overpayment of £150 for end of Jan and and on target so far.
Have strictly stuck to sarnies 4 days a week except Tuesday where I eat in a little hospital cheap canteen with a colleague so I allow myself a budget of £3.50 a week for that. I have been shopping once a week and really not wandered into a supermarket just for anything, if I haven't got it I don't use it.
I have been making bread every weekend and keep UHT in the cupboard now to stop an emergency shop that could lead to unnecessary purchasing!
I am refusing to buy eggs, we will have to wait till the ladies are operational again until then no yorkies!
I really wanted to take the kids on holiday so having worked out it would be nearly £1000 to go to a holiday camp for a week in the school summer holidays I contacted my friend in France and have booked Sleezy jet tickets for a visit to her for a week instead, I will do some food shopping whilst there and spend some money but overall tickets for the three of us was £375 and paid for with real money. If nothing else we have a holiday booked.
I worked 4 extra shifts in Jan which I will get paid for end of Feb - nice as it is my childrens 10th birthday then and I would like to do something for it and it will cost money.
Plans for the year (if I can scrap the money together) - Lego land visit - will need vouchers not sure where or what. Never been and fancy it.
Would like to go to Gardeners World show in Birmingham - no vouchers I don't think will have to bite the bullet and put hand in pocket - maybe stay in Travel Lodge so will need budget booking advice for this if anyone has any tips I would be happy to listen.
Mathilda - in London, dont mind the cheapest seats but would love to go with the kids. V expensive, needs thinking about...
No extra shifts booked at present but will keep all posted and would like to have managed 2/3 of above adventures.

Am going to get stuck into jam making and wine making this year and foraging... will keep you posted. Here's aiming for £150 over pay Feb end of Feb.

Lois_E

Hi PP2.

Just noticed your diary, and am subscribing. Always good to make contact with anyone who's either another long-hauler or another person who's parenting without the other parent there to help. You're both of those things, so I'll definitely be following your progress. (My diary is here, BTW.)

Well done on what you've achieved so far. You've got off to a great start with your first month. Good luck for the journey ahead.

moneycurious

Good luck - any payment is deffo a good op....... i just think money paid into the morgad is better spent than anything else that can be possibly bought!

Good luck!

Pennypincher2

Hello and thank you.

A little up date of the usual stuff going on this year so far...

Menu planning food for week and shopping list written prior to shop! - mainly stuck to.

No internet browsing, no shop browsing.

Cycled to town two weeks in a row to save petrol and parking cost.

Hand me down clothes given to me slung into cupboard but will be useful and sorted later.

Kids birthday March and have worked 16 hours extra in Jan which will pay out end Feb so will really help.

I have asked to increase my hours up to full time start of April that is a final 2.5 hours extra a week which whilst not much is full time and will be good for a little bit of extra money regularly, full sick pay if I need it and full pension contribution. Very sensible, boss had said no before but cant this time cos she is employing an extra member of staff therefore difficult to say we cant afford it!!! What she means is you work full time but I save a little bit of money by not paying you full time grrrr - too bad lady, this girl has a mortgage to pay and wants to be done by 60. Good assertive decision, wrote email and said I'd like to (but not in a please may I but in a I shall way - patting own back now), she has been unable to reply but an administrator told me I was increasing my hours so that is a yes then! Needed to cos I side stepped promotion due to age of kids etc and needed to feel that I was getting it together a bit. Post children career always a worry.

Plan for rest of half term - on hols now. Friends coming over for lunch today - whoopsie sausages and rolls for the kids and home made bean chilli from weekend for adults. Walk to big park. Maybe homemade cake.
Tomorrow to sisters for lunch, big walk in forest.
Friday - needed trip to Ikea, gulp. Do need small (read cheap) rug for spare room pretending to sort out and lamp for DD bedroom as broken accidently by DD in sleep and v upset. Will need to do an Ikea lunch and probably need to take it on the chin ..... pictures afterwards for all 4 of us. If I can spend less than £50 in Ikea it will be a miracle and has never happened before! So I will keep you posted.

Birthday pressies for 10 yr old girls, we have just got a Primarni. Trousers and top - £6 in sale for one child then £ 9 on another occasion. Very pleased as beautiful pressies and a bargain.

Went to pics last night on cheapy Tuesday spent £10 on two tickets and man brought ice cream and paid parking, really fab night and feeling quite loved up.

Still doing packed lunches for me every day except Tuesdays. Kids have packed lunches Mon and Tues but then school dinners the rest of the week - I know expensive but I barely have the strength to make sarnies all week. Ok Ok I shall intend to cut school dinners down to twice a week each in Feb that will say £16 per month ... see it all adds up.

Nothing else I dont think. Best of luck all xxx