The impossible dream

Tahlullah.H

Today was the first day of sitting in my garden office at 9.00am, with the doors open, looking across the garden at the sea, with the sun shining, whilst listening to the crickets all day.  It was truly wonderful.  So happy with this decision.

Not a lot going on regarding MSE.  The cost of living is taking a toll, lots of month left at the end of my money.  But, slowly doing things, one step at a time.  The cupboard doors are stained, but no further forward.

So much to do and so little time.  But, the mortgage payments are still being met, so all is good at present.  There is nothing else I can do except try to stretch my money until the government step in to help people cope with the cost of living.  Hopefully before I come to the conclusion that staying at home on benefits is the way forward.  Went to the hairdresser at the weekend - I only go quarterly now - and the price had gone up £10.00.  Oh well, a necessary evil.  If I could get away with not going, I would.

And the cat gets more expensive every month.  I do wonder how people are coping when they don't have enough money for food and fuel, and they have o feed the pets.  such a shame so many animals are being abandoned.

Every trip to work in the car cost £100, and shows no sign of reducing.  Looking forward to seeing what the new PM and government are going to do for the country.

savingholmes

It's not sustainable is it with that kind of fuel cost.

Glad your garden office is now sorted. Could you PM me a photo? I'd love to see it.

Tahlullah.H

So, last day of the month.  Not much to say.  Slowly chipping away at the mortgage - currently owe £35,600.  Still on track to clear in 2 years.  I have owed less in my time on here, but this time feels like the real thing.  I have no reason to make another large purchase like before, so I really do feel I will clear it in 2 years, or 24 payments if I continue paying the current rate.  Just before my 59th birthday.  Sad to think I have ben paying a mortgage my whole life.

Tried to sell some stuff to declutter.  Not so successful, so have freecycled instead, which has been better.  At least I don't have to take it to the charity shop, using my diesel!

Making money outside of salary has been consistent - £143.00 this month, which is great.  Running alongside 15 NSD's, every little helps.

Making moves to prepare for my holiday in September.  Going in the campervan, so slowly saving for the work to be done on this in preparation.  Nothing major, just a check to see all is well.

Had to spend my emergency savings on a shed.  Oh well, again, always grateful to have the money at the time for emergencies.  The downside is that I no longer have any savings - ok, less than £300 in Premium Bonds.  But, £300 is better than nothing and I can slowly try to rebuild.  

The cost of living is taking it's toll, and my visa bill is not automatically covered.  Bill is due on the 6th and I will have to contribute about £300 to cover.  And bang goes my emergency money!  But, all is still good in the world.  I can still put fuel in the car and I can still buy food and I am still ahead on my electric bill at present and more importantly, I still have wood to burn come winter.

Despite all of the above, my car is getting close to 100k on the clock.  Currently 97k.  I am hoping I can keep it going for another 2 years, until after the mortgage is paid off.  Fantastic car.  I would not be able to buy this level of quality again in the future, so I will try to keep it going, but as there is nothing wrong with it.  I have high hopes.

Things to do - must get my paperwork together for the accountant.  Everything else is incidental.

This is still a good life.

savingholmes

Glad you are managing to hold the ship steady. A great result in these weird economic times. 

I have every confidence you'll make it. Your campervan plans sound fun. Are you heading anywhere in particular?

Tahlullah.H

Yes Savings, I am going to France!  Via the Tunnel with a ticket that was bough just as Covid hit.  It has been re-arranged and re-arranged and now, if I don't use it, I will lose it.  I bought it with my Tesco Vouchers nearly 3 years ago.

I just looked - reminisced - and saw that I bought this house on 28 April 1998.  So, next year, April 2023, I will have had a 25 year mortgage on this house.  Somehow, again I am saddened because I have spend so many years of my life trying to be mortgage free and I will have run the full 25 year mortgage term, plus 1 if my calculations are correct.

But, on the positive side, I am in a nice house and I have managed to accumulate a few things around me - some of which I am trying to divest myself of.  If I look back at the 24 years I have been here, it has been successful.  True, I haven't won the Lottery or the Premium Bonds it would help if I bought lotter tickets regularly -  but I have managed to buy what I need when I need, and I have done it within the 25 year mortgage borrowing window.

I think I have  a narrow view of what is 'success'.  To me, it means paying the mortgage off and retiring early.  But, I am nearly there and I will hopefully retire at 60 rather than the expected 67, so maybe I am successful.

Maybe I should re-evaluate my assets and see if there is anything I can do without to move me closer to that goal within 1 year, or should I just carry on as is, knowing that missing a huge deadline like this by 1 year is an excellent result?

I shall ponder as I try to earn a bit more spending money...  I think I need a side hustle.  Not sure what doing though...

savingholmes

I think you under-estimate your achievements. You have a fabulous home in a fab location and you have other pension / investments on top. You are doing fine.

I think the other thing is that while many of us aspire to retire - it isn't necessarily good for us - particularly if its a big bang approach - and continuing working could be extending your life and improving it's quality. You are disappointed you are not able to retire fully at 60 - I'm hoping I might be able to go part time at 60... Comparison is a trap. 

Life never goes to plan. You are headed in the right direction which seems pretty much as good as it gets.

Tahlullah.H

It's the end of August tomorrow, and I have not been doing much towards updating my diary,  probably because I have not felt like it.  So much going on in the world and in society, that everything that is happening seems small fry compared.

Anyway, positives include making £200 from selling and surveys this month.  Always good to make small amounts that make a difference.  Along with 12 NSD's, a really good result.

The mortgage continues to go in the right direction, I do believe I will be in the high £20k's before the end of the year.  Better than I thought.

Like everyone, I have been contemplating my future heating bills and have managed to accumulate a lot of wood for the winter season - every little helps.  I am thankful I have an alternative heating solution. 

Had an interesting conversation with my Gas supplier on how they felt they were helping me and others by doubling my DD.  Strangely, it made a difference and they agreed to leave it where it is for the next 3 months, so I am not really sure how this will impact in the future, but it means I have more disposable income to throw at the electricity bill now, which is the fuel bill that will be hammered this winter.

Other than that, everything is as good as it could be considering.  This really will be one of those situations when you find out how you are when you come out the other side.  For me, I think April will be time when I really know how well I have survived this current economic chaos.  In the interim, more of the same I think.  Keep the food supply stocked up so I have money to pay bills and I can eat from the stores.  Keep collecting wood for the winter so I don't have to rely on the central heating so much.  Top up my coal bunker soonish, so I am not having to pay a premium price during winter.  Keep an eye on my electricity usage - keep using the microwave and the air fryer.  Currently using the oven about twice a week, so happy with that.  Might regret it later, but now, ok with the level of usage.

The fix on the mortgage ends in March next year.  No idea how bad that will be, but I know it won't be good, so keep paying the mortgage down as much as possible.  At least if I do have to go onto the standard variable rate, it will be against a low number.

Coming up, I have to MOT the car and renew the insurance.  I also need a service.  As I don't really have any disposable income, this will be interesting to manage, but what's the worst?  They can't take it from you if you don't have it.

As someone once asked - What is slavery with benefits?  Employment.  Maybe I need to re-evaluate what being 'free' means in this economic climate.

TallGirl

Well done on £200 extra earnings that’s great. It is all
a bit scary with the costs going up your wood supply sounds great and reassuring. Keep plodding £20k will soon be gone. 

Tahlullah.H

As it's a really lovely day apart from the wind, I thought I would relax and read over my diary, instead of doing what I should be going - getting paperwork ready for the accountant.  I like to do that periodically, read my diary.  See where I have come from, helps with where I am going to.  Anyway, a quick back of an envelope calculation makes me think that by December, I will owe £27k to the mortgage.  Wow, if that happens, what an achievement.  I had hoped I would owe around the £30 for the new year, but to be at £27k, would be awesome.  Bring it on!  The mortgage SVR doesn't seem so scary when looking at these numbers.  So, I will just have to stop eating, turning on the lights, using the GCH and stop going anywhere in the car apart from work.  And my holidays.  Still not giving up the holidays!

Also, I went back to the post at the beginning of the year where I set out my plans for the year ahead. That was interesting as well.  I will revisit it at the beginning of 2023, but currently, there are so many things on the list that I have not touched.  Some were clearly aspirational as opposed to realistic, such as saving £4k into an Isa.  Pipe dream!  But, I did achieve a couple such as getting the Chimney finished!  I will go over them again and see if I want to keep them for the following year, amend them or just let them go as unobtainable.  Until then, I will go back to eating crisps, which seems to be my favourite pastime at the moment.

Moneyfordreams

I love crisps lately too. Halving your mortgage in a little over a year is fantastic, especially with the chimney business.