Back from the brink of disaster....now to pay off £160,400 interest only mortgage :-(

Cheapskate_Kate

Hello all

Well I am now the excited and proud owner of an iPad mini! Before you all berate me for reckless spending, my justification is that I really wanted one and as my laptop has been dying slowly I need one! Ok....that's a bit of an excuse but as I'm feeling a bit guilty I thought I needed to come on MSE and gain control before the spending spirals out of control!


So, in order to atone for this wanton consumerism I have set the following goals:


£100 spending until end of the month (which will mean I can put £500 into my ISA


£0 spending on shoes and clothes for this autumn/winter - I have done a wardrobe audit and have enough for work and play


No takeaways until NYE


Hopefully that will align the forces!


Seriously though, it has been an expensive few months, uniforms, school trips, and now the boys birthdays are looming and they want bikes :eek: So my aim is to find 2 equally nice, similar bikes for not much money!


I have finally received my bonus for 2012-2013 after the unions got involved and I had intended to put the whole lot to the mortgage. It's not a huge amount £1500.....so I've bought this iPad, am getting some plastering done which'll be about 1k and the rest is for Xmas.....hopefully Xmas won't interfere with the regular payments to the mortgage and savings.

sleepygirl126

kate- I am in almost exactly the same position as you....I am plodding on with my mortgage free ambitions too....I also have debt through stupid mistakes and a divorce...I am also a single mum...keep plodding on...I intend to and even if I don't reach my goal...I will bloody well give it my best shot!!!

greent

Hello Kate - found your diary today and have read it from the start. Am impressed by what you've achieved and your fantastic positive outlook. Hope to follow you on your journey

ps - I must echo others here - your style of writing is great!

gt x

Cheapskate_Kate

Hello diary

So, I'm doing ok with the £100 budget.....especially as I was off last week for half term with 4 kids to entertain. Have £20 left from the imposed budget but do have enough diesel for the week and meals/ lunch boxes are planned and bought for until Friday so it's going to work!


I think having the actual cash rather than just paying for everything on card really helps me to get a grip on those daily expenditures. In terms of entertainment for the week....we've been on scooter rides, visited the museum, swimming (under 16s swim free sessions), gone to a falconry centre, made Halloween biscuits, watched some 'spooky' films at home with popcorn, and cleared and cleaned bedrooms (0k well that wasn't their idea of fun but certainly kept us occupied).


I now have 3k in my ISA and am paid on Thursday so will pay the extra money I have from acting up for my manager to the mortgage....not sure how much at the minute though!

FloppyDisk

Hey Kate. Just reading your diary and have to say you are such an inspiration, it's amazing that you have turned everything around completely! I'm also just finishing off paying debts and it feels like it's taking forever! Bring on the over-paying! X

Sandstone

Hey Kate, you're doing great!

mortgage_girl

Happy New Year Kate - hope you stop by soon to let us know how you're getting on.

MGx

Lois_E

Kate??? :wave:

Just in case you've got an email subscription to this diary, I thought I'd post a quick message saying I hope you're OK, and do come back to MFW when you have a chance.

Cheapskate_Kate

Hello diary

I have been doing so much overtime and am shattered.

Good news means mortgage is currently £149,215, have £6000 in savings and holiday is booked and paid for (only a week in uk). student loan is now paid off.

Bad news is that I'm exhausted and overtime options coming to an end as we've recruited. Need to get some balance in my life now.

Goldiegirl

Hello, I've just been reading your diary.


You are doing fantastically well.


I've been down the overtime route in years gone by.... the money was very helpful, but after a while you start to feel a bit punch drunk with tiredness!


Look after yourself, and make sure you don't burn out !