Throwing My Hat in The Ring

Iced_Bun

Hello all

Still beavering away to hit some targets here.

Update - my bathrooms project has started which has a budget of £5k but does need to cover one major refurb and then some bits in the other 2 rooms so I am not expecting much left at the end of it.

So since I last posted I have moved some money into last years ISA allowance so have this years to use now as well. The plan now is to fill this up with the full allowance which will then form most of my emergency fund then next fill up the easy access account to extra needed (about 2k)

I am not far off achieving this which I am really pleased about because then I can attack the virtual mortgage account for OPing.

Very excited about getting my new ensuite and its nice to know the money is allocated rather than using any credit or loans

Smaller plans are to continue the ebay mission and keep watching the pennies on a day to day basis

Iced_Bun

Hello all and apologies for the absence of updates but the plan is coming together and I can get back on track with any luck.

So since I last posted I have done reasonably well on my EF but sadly ended up spending considerably more than planned on my bathrooms. Totally my fault but one project turned into another and consequently I now have a new ensuite, bathroom and downstairs loo:o probably ended up spending about twice the original budget so its time to reassess now (and stick to goals :D)

Anyway back to the MF mission - I have received my statement today and I am now in mortgage debt to the tune of £22,000. So the revised plan is to continue to build the EF back up to 12K (should be done just after christmas), make some overpayments where possible to the virtual mortgage account.

In November next year I will receive another endowment pay out of around £13,000 so I anticipate that will be another £10,000 off and the rest to use as required or put in the virtual account. That leaves 12k for me to focus on getting paid off.

Sooner it goes the better but I also want to do this without too much pain. Having said that I am now back into the MF focus and if nothing else at least I have a choice of lovely new bathrooms to chill for free in :D

Tahlullah

Helli Iced Bun. Congratulations on all you have achieved and on getting your mortgage so low. Fabulous results!

I too am a great fan of 'Paying it Forward' and have been for years. Sometimes, it's just a kind word to someone who is having a bad day. It can make the world of difference, especially if someone has made the effort to be nice to me, for no reason beyond they are a kind person.

Good luck with your endeavours and I will watch on and think positive thoughts for you!

Iced_Bun

Well its been a long time for an update but still on track and heading in the right direction

So since I last posted I have completed the bathroom project which did go considerably more over the original budget but has actually been worth every penny. Despite the overspend I have managed to keep on track with my budgeting for EF and now stand at just over 16,000 which is more than I had said I needed but still gives me reassurance in the world of insecure jobs I live in.

Mortgage wise I have been overpaying with the 350 a month and now sit just short of 20K :j As I think I said earlier in a post I am expecting a 10k payout in November which bar any major change in circumstances I will be paying off hence leaving me with with around 7K to finish off.
Temptation is to get rid of it all in Nov with savings but I really like having the comfort blanket of the EF - what does everyone think what would you all do

Only other debt is now the car which I cant see changing as I will need to change probably next year or year after. Credit cards all paid as I use them now.

I do have another project for this year this time it is a fairly major garden revamp which I am looking at about 3.5K for (luckily it cant extend and extend like the last project did!! )

Phew sorry for such a long post but I need to refocus with you all and get some good advice for the experts. Thanks for reading

elantan

Hey iced bun, great to see you again, the bathroom sounds like it's been worth while for you:)

What plans do you have for the garden?

Great news on staying on track with the MF plans

Iced_Bun

elantan wrote: »

Hey iced bun, great to see you again, the bathroom sounds like it's been worth while for you:)

What plans do you have for the garden?

Great news on staying on track with the MF plans

Thanks elantan and great to 'see' you too

I have a pretty big back garden but no where really to sit so its a redesign to make a couple of patio areas and just generally give it a bit of an identity!! As my mum always says its the biggest room in my house so it needs as much attention as the rest :rotfl: not a gardener at all though so it needs to be extreme low maintenance

Ive ummed and arghed about having it done with my mission being a saver not a spender these days but I figure its worth it. I will be getting that money in November but dont really want to wait till then as a nice garden in December is not a big lot of use to me.

elantan

as the old saying goes .. its a marathon not a sprint, no point in owning something you dont get any enjoyment out of, take your time and remember every little bit you can pay off makes a difference, but also being happy helps as well ... tis ye olde balance thing again

i love gardens, just dont have a clue what i am doing with them, i'm useless but i'm happy digging away

Iced_Bun

elantan wrote: »

as the old saying goes .. its a marathon not a sprint, no point in owning something you dont get any enjoyment out of, take your time and remember every little bit you can pay off makes a difference, but also being happy helps as well ... tis ye olde balance thing again

i love gardens, just dont have a clue what i am doing with them, i'm useless but i'm happy digging away

digging is impressive
Personally I just lie on a sun bed and think what I should be doing :rotfl:

elantan

That's always the more enjoyable option

Although I have found some interesting things whilst digging, in our flat it was a full shed, including walls floors tins of paint, bottles, shovels etc and a mattress ... Springs and everything... Took me a good few skips to get rid of that rubbish, in my current garden so far it's been a few dead animals, some Japanese knotweed oh and a house, yep a great big ( well it felt big) house, huge sand stone walls... That one required a mini digger to get enough pieces out so that we could put the polytunnel in ... Still finding slate roof tiles, dead bodies and bottles (and the walls so much so that from now on were going up the way)... What is it with people burying glass bottles ... You know what , you've talked me into preferring the lying out bit


Although I also enjoy inspecting my plants ... I'm like a Sargent major with them

Iced_Bun

elantan wrote: »

That's always the more enjoyable option

Although I have found some interesting things whilst digging, in our flat it was a full shed, including walls floors tins of paint, bottles, shovels etc and a mattress ... Springs and everything... Took me a good few skips to get rid of that rubbish, in my current garden so far it's been a few dead animals, some Japanese knotweed oh and a house, yep a great big ( well it felt big) house, huge sand stone walls... That one required a mini digger to get enough pieces out so that we could put the polytunnel in ... Still finding slate roof tiles, dead bodies and bottles (and the walls so much so that from now on were going up the way)... What is it with people burying glass bottles ... You know what , you've talked me into preferring the lying out bit


Although I also enjoy inspecting my plants ... I'm like a Sargent major with them

mine was a new build when I bought it so I get loads of bricks, tiles plastic and ketchup bottles the builders clearly liked their ketchup!!

I am not a gardener though and probably never will be so its about accepting that and working the space around it,
Have chosen the company to do it now so its just a case of waiting till they can squeeze me in and save like mad

The fun bit will be choosing the furniture and planters - sad when you dream of 4ft silver planters and egg beds!!!!