I don't need another skinny Latte

edited 30 November -1 at 1:00AM in Debt Free Diaries
673 replies 99.3K views
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  • safehousesafehouse Forumite
    710 Posts
    Fifth Anniversary Combo Breaker
    ✭✭
    Good idea concerning financial adviser, you've definitely given me food for thought....Have a lovely Happy, Happy weekend, you deserve it :D
  • BrogdenBrogden Forumite
    1.2K Posts
    Well it's the long awaited weekend. My payment from music magpie finally arrived £9.75 for my entire music collection, haha, I haven't missed it so no regrets, and it's safely stored on itunes now.

    I have sent an email to a local financial advisor today, I want to really understand how to pay off this mortgage, I just have a feeling that as a 40% tax payer I'm missing out on a big trick, and a pension mortgage sort of makes sense in my head. Anyway I will see what he says.

    I'm liking the new virgin card, as well as the interest free cash and the free wine, I get free access to the virgin lounges at airports. I'm liking all the free!! I will try it out next week as I have a quick trip to Germany.

    Not much planned for today, I'm still in my friends spare room, so no housework to do, although I suppose I could do hers! I will get all my change of address letters written, and will have a mooch round the charity shops and the library.

    Have a lovely weekend all :) x

    That's what I'm doing with the mortgage Skinny but that's not to say it's for everyone so financial advice is the thing to get. I know I'll be swallowing hard when all that fund hits the building society but I do need a house :rotfl:!!
  • Ali-OKAli-OK Forumite
    4.1K Posts
    Part of the Furniture Debt-free and Proud!
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    Catching up Skinny - wow, so much moving forward :T and loved your post about the wider impact and happiness. Great to hear how the offspring are doing too.

    I think the thing with the new debt is you've planned it and how to manage it, you're in control of it and it's factored into life when you take it on.

    Hope the IFA helps on the mortgage front, definitely benefits to 40% tax free added to pension pot :) and your old Landlord - that's surely fair wear and tear. Hopefully your deposit will be back with you soon.

    Enjoy the rest of the weekend :)
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • SkinnylatteSkinnylatte Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
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    Thanks Ali, it certainly does all have a wider impact, although is a very non frugal way, I seem to have spent an obscene amount of money on clothes in the past 2 weeks, very nice ones I have to say, but still, it stops now! I have a budget, but it doesn't mean I have to spend it all every month!!

    Landlord is being complete @ss, thinks he's entitled to £400, I offered £200, but just to get rid of him more than anything else, he says he'll have to ask his wife - wuss!

    Ordered some books from the library, found nothing of note in the charity shops, although I did notice they seem to be getting expensive and never got round to writing my change of address letters, there's always tomorrow, and I need to dye my hair too, the grey is visible again :(

    Having spent all my debt paying days haggling for a good deal on a sky tv package I have now discovered i don't miss it at all, In fact i don't even have a TV at the moment. if there's something I want to watch I just watch it on catch p on my laptop. So there will be no more sky in our house. I will be searching for a good internet and phone package.

    Had an interesting phone call with the financial advisor who thinks a pension to pay off the mortgage is the way to go, we have a meeting tomorrow night, so I'll update after that.

    My piggy bank is full!! Which is a good sign, but now I don't know what to do with it all, the bank won't take it and Coinstar take lots of it in interest, so my piggy is sat there with coins sticking out of his back for now.

    Got a a cold and feeling a bit sorry for myself, but otherwise all is good x
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • dawnybabesdawnybabes Forumite
    2K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭
    I use my piggy money at the self service tills in morrisons, in mine you can just lob a handful of money and it works it out :-)
    Sealed pot challenge 822

    Jan - £176.66 :j
  • SkinnylatteSkinnylatte Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    dawnybabes wrote: »
    I use my piggy money at the self service tills in morrisons, in mine you can just lob a handful of money and it works it out :-)
    I tried it in sainsbobs, but they don't have the big opening to fling your change in, just a rather slow coin slot, maybe I'll start shopping in Morrisons!
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • SkinnylatteSkinnylatte Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Well.........

    quite a a lot to update. I've gone to the deposit scheme arbitration over my rent deposit, 3anker landlord wants £400 off me, I don't think so, any way it's out of my hands now, so hopefully it'll be fair. At least now the most I can lose is £400 not the whole £830.

    Music Magpie money hit my account, £9.75 which has gone to the mortgage, and expense claim of £279 which has been paid off the CC, also have some money in Paypal I need to transfer and pay that off too.

    I had a very interesting meeting with the FA last night, if I want to pay off my mortgage with a mortgage pension without paying any tax then I need to save a fund of £540k (so I can take 25% tax free) I think this figure is a bit of a tall order, I could do it if I lived no life at all from now until I retire but I don't intend doing that! But it's a good start.

    For every £100 I pay in the tax man will add £20, and at the end of the tax year I can claim another 20% off my contributions back either as a tax code adjustment, or have it paid to my pension. Plus of course the pension pot should grow at around 6% per year give or take good years and bad years, whilst my mortgage is 2.49%, so my hunch was correct. He's gone away to do some calculations, but it's looking a not bad situation really, and I will keep chipping away at the mortgage too.

    If only I had had this mindset when I was 21, I would have a million in the bank by now!

    I've made over £2 interest from the MB money in my 5% TSB account, not that I've done any MB, just don't seem to have found the time, I need to set some aside, because it really was easy money. Anyway I topped up that account to £2000 which is the maximum TSB will pay the 5% on.

    Still at my friends, and still no moving date :mad: but I have saved a months rent money already, seemed to have spent most of it on new clothes :o

    Think that's it for today, nearly half way through the week!!
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • SkinnylatteSkinnylatte Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    Quick update, not that there's much to update, I've been working away since last week, back home tonight though :)

    Still no moving date, and no movement on my deposit either :mad:

    I've been listening to a lot of pod casts while I've been driving around, I've only just discovered them, amazing and free!
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

  • edited 23 October 2015 at 8:39PM
    safehousesafehouse Forumite
    710 Posts
    Fifth Anniversary Combo Breaker
    ✭✭
    edited 23 October 2015 at 8:39PM
    Thanks....we are working through things at the moment…..very, very proud of my DS.
    Oh….I have been doing well selling Van shoes and M&Spency leather shoes, certain bags and purses, like RI, Rad and kip, hope you get my meanings, but have to be very lucky at the car booty to find them. Enjoy your weekend :):)


    CC 5,260…. Mortgage £33,670 (66,330 paid)… Debts to Date
  • SkinnylatteSkinnylatte Forumite
    1.2K Posts
    Part of the Furniture 1,000 Posts Debt-free and Proud! Home Insurance Hacker!
    ✭✭✭
    We have a moving date :j:j:j
    14th November, so I've been busy ordering broadband (£85 cash back!), plasterer, carpets, etc etc.

    Lovely feeling to be getting on with things, I was looking round the house yesterday and it really is in a right state, it'll be a long haul to get it how I want it, but there's no rush.

    Trip to the library today to get a book I'd reserved called the 4 hour work week 'escape the 9 - 5 live anywhere and join the new rich' mmm I will keep an open mind!
    Trawled round all the charity shops and purchased nothing :A

    Need to site down soon and do an SOA for the new house, that includes the CC payback plus pension mortgage payments, I want it all in place for Xmas. I have another financial adviser appointment Monday,I'm going to see a few people so I can get lots of opinions.

    Holidays now :j:j Its my airmiles turkey trip on Tuesday, we're away til Sunday and going on the balloon ride Thursday, paid for with my colleague award, very exited :D

    I had a lovely evening out with DD on Thursday, she's still job hunting. And DS has been doing the front garden for me, taking out trees and leveling it out ready for gravel.

    OK, off to read how to be rich in 4 hours per week :cool:
    Pay off Car Loan £17,047 £10580 by Christmas 2022

    Mortgage 1 @ 23/03/2019 [STRIKE]£101297[/STRIKE]
    £84457 16.6% DI [STRIKE]£6.95[/STRIKE] £6.15
    Mortgage 2 @ 12/04/2015 [STRIKE]£136121[/STRIKE]
    £100,546 26.1
    % DI [STRIKE]£9.13[/STRIKE] £6.07
    1st LBM 02/06/2013 £[STRIKE]21595[/STRIKE] Debt Free Day 27/03/2015

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