Back on the MSE wagon

Hi All,

I wanna be mortgage free ASAP (which is likely to be a looooong time as I only got a mortgage in November)...... £150k repayment over 20 years and as I am 46 years old i need to take action!

A little bit about me, I was a debt free wannabe and cleared my debts in May of last year. Earlier than I expected due to the breakdown of my marriage and consequently the sale of the marital home. Anyway after renting for a year I took the plunge and bought what I intend to be my forever home. :D I have three daughters, one with her own place, one at home (18 yrs working full time), one at uni (so still supporting as her loan doesn't even cover her rent :eek:)

So after fretting for six weeks on the mortgage forum ( thanks to the guys on there who held my hand through the whole stressful process) waiting for a mortgage offer, moving in, Christmas etc its now time to join mortgage free wannabes!

I am hoping my debt free wannabe tactics will come in handy but have not got a lot of spare money at the moment as I needed to buy some wardrobes, washing machine, beds etc when I moved in. . . . Still every small overpayment helps :T

I really need to do an SOA and keep a spending diary, so I can work out a financial plan of attack as I need that mortgage gone by 60 so I can have fun and grow old disgracefully ;)
Well Behaved women seldom make history

Early retirement goal... 2026

Reduce, reuse, recycle .
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Replies

  • OctobergirlOctobergirl Forumite
    342 Posts
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    Hi mrs motivated,
    Congratulations on your new home. You sound like you've experienced a lot in life recently. I hope your new start goes smoothly and your mortgage diminishes rapidly.
    Mortgage paid off Dec 20
    £5000 /£7000k debt
    Jan 2019 13.9.5
    Jan 2020 12.06 (-17.5)
    Jan 2021 13.11 (+19)
  • Lois_ELois_E Forumite
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    Welcome mrs motivated. :wave:

    Sounds like you and I have a lot in common. I too am 40s, been through marriage break-up, living in forever home, long mortgage term. My kids are younger, though, and I'm only working part time.

    So I'll be following your progress with interest. If you want to follow mine, you'll find my diary here.
    Starting again 13/4/19
    Home loan 1: £21,102.50 Home loan 2: £7,698.99
    Total owed: £28,801.49
  • mrs_motivatedmrs_motivated Forumite
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    Thanks for the welcome October girl and lois!

    We do have lots in common Lois, I just read your diary. It's great on here isn't it, everyone supporting each other.

    My marriage didn't break down because of the debt ( which was mine and not the ex hubbies) and when I left I took all of the debt with me. He was drinking heavily and becoming increasingly controlling and eventually violent and it was then i knew leaving was the only solution. Basically, what was mine I kept (assets and debts) and so did he, we sold the house and split proceeds 50/50.

    It's very strange, I had what to others seemed the good life, big house, land, flashy car, great career and the obligatory DEBT. ....how deceptive lives can be!

    Now I have my bungalow complete with veg plot, greenhouse and ordinary car and I am sooo happy! My kids and friends are what is important, not the designer clothes or £30k kitchen :eek: My only regret is that I didn't realise it years ago.

    Whilst it is sad when marriages end, its so empowering to be in charge of my own destiny......this time I won't let me down :)
    Well Behaved women seldom make history

    Early retirement goal... 2026

    Reduce, reuse, recycle .
  • Lois_ELois_E Forumite
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    Oh yes. While a good marriage is a wonderful thing - and I had the good fortune to grow up with parents whose marriage was excellent - a bad one can be truly appalling. Not that mine was one of the worst, by a long chalk. Anyway, that's all behind us now, and as you say, it is definitely empowering, however and whyever it ended, to end up with autonomy and independence after being in a relationship where it was taken away.

    Your bungalow sounds fun. My house is quite ordinary from the outside, and definitely NOT done up to the nines inside, but it's got the things I wanted, and I love it. :D
    Starting again 13/4/19
    Home loan 1: £21,102.50 Home loan 2: £7,698.99
    Total owed: £28,801.49
  • mrs_motivatedmrs_motivated Forumite
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    Had an exhausting weekend babysitting a six year old (I'd forgotten how tiring they are, but good fun too :) ).

    My daughter (twinny 2) was also home from uni for the weekend , so any money saving planning was put on hold.

    However I have started taking a set amount out of the bank weekly, rather than using my debit card and. Tantantarrraaaah I have 37 pounds left , a full fridge and a tank full of diesel! It's pay day on Thursday, so I am trying to last on £7 per week and then on Thursday I can make my first ever overpayment of £330 :T

    I was horrified yesterday I got my mortgage statement (borrowed £150k in November, paid £1900 back and I owe more than I borrowed) :(
    Well Behaved women seldom make history

    Early retirement goal... 2026

    Reduce, reuse, recycle .
  • Hi Mrs Motivated:hello:

    Just wanted to pop by and say good luck and you go girl!:T

    I guess flashy possessions are not everything as I have learnt from my younger days mixing with people who appeared to have so much more than me and me being quite impressionable and the green eyed devil lurking up. Time tells you I guess that all those things don't mean jack... It's inner happiness that counts:D

    I wish you all the best and hope you get to your goal whilst being able to enjoy life to the full:)

    Del B xxx
    L.B.M Dec 12 mort £91728 (£7327 sec loan incl)
    Feb 13 mort £89629:D
    2013 Challenge to op £5400/1700 paid so far
    Aim - to be mortgage free Jan 2020:j was 2025:eek:
    I'd rather laugh with the sinners than cry with the saints, the sinners have much more fun......:D
  • The initial mortgage statements are always heart stopping Mrs M....but it's all yours, and you must be proud:T

    I only have two 'kids'....both at home currently, although my daughter (at university) is moving into her student crib this year.

    I have found keeping a spending diary keeps me in check - I use an app, my biggest and most careless spends are always groceries:cool:

    I'll keep reading your diary if you don't mind as I have a feeling I'll learn a lot from you:)

    NP:D
    February13 - £74990 (or thereabouts)
    MND - Let's go for 2020 'cos it's got a nice ring to it:D
    C'mon nattypants:cool:
  • edited 27 January 2013 at 7:12PM
    mrs_motivatedmrs_motivated Forumite
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    edited 27 January 2013 at 7:12PM
    Hi Mrs Motivated:hello:

    Just wanted to pop by and say good luck and you go girl!:T

    I guess flashy possessions are not everything as I have learnt from my younger days mixing with people who appeared to have so much more than me and me being quite impressionable and the green eyed devil lurking up. Time tells you I guess that all those things don't mean jack... It's inner happiness that counts:D

    I wish you all the best and hope you get to your goal whilst being able to enjoy life to the full:)

    Del B xxx


    Thank you hunny - and you are sooo right. I have less material possessions than I had at 25, but I am buzzing on life and future plans. Laughter, love and good friends are free and priceless :D
    Well Behaved women seldom make history

    Early retirement goal... 2026

    Reduce, reuse, recycle .
  • edited 27 January 2013 at 7:12PM
    mrs_motivatedmrs_motivated Forumite
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    edited 27 January 2013 at 7:12PM
    Hi Natty,

    I have just started reading your diary, up to page 15 so far lol and it seems we have got lots in common too.

    Groceries :eek: Mmmmm last month my bill totalled erm :o £500 ( and that's when I am dieting :o). Now I should explain my dieting actually means no more than 2 bottles of vino per week, no choccies and taking a packed lunch to work. . . However, I've got two holidays coming up and the mere thought of a bikini is erm well:eek: ( visions of harpoons and been rescued by green peace :cool:)

    I have started a sort of spreadsheet spending diary , income on one side, fixed expenses on the other ie mortgage, utilities, gas , leccy etc. and what's left is food and fun. Now it's the food and fun that is truly scary, however...... My new mantra is I can and I will stay focused :D:D
    Well Behaved women seldom make history

    Early retirement goal... 2026

    Reduce, reuse, recycle .
  • Ah, page 15 circa the eBay years:D (I had a quick check in case you are under the impression I know my diary intimately!) Actually, I've not ebayed for yonkles and will have to get back into it - all potential treasures are in the garage, so may hold of until springtime ;)

    That's great you have holidays to look forward to...my bikini days ended pre-babas:o
    We can keep each other going on the grocery spend front:)
    February13 - £74990 (or thereabouts)
    MND - Let's go for 2020 'cos it's got a nice ring to it:D
    C'mon nattypants:cool:
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