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The impossible dream

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
520 replies 56K views
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  • TahlullahTahlullah Forumite
    1.1K posts
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    So, decided to count up the pennies and 2p's to add to my savings pot of £50.00. Well, what a disappointment! £5! Seriously, £5 in pennies and 2p's. I am guessing that I haven't managed to save that many since the last time I cashed them in.

    Oh well, every little helps. Will hopefully get the chance to pay it in on Tuesday.
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • Celebrate every win! It's still £5 you didn't miss and can overpay towards the mortgage.

    I should also say though that that's exactly why I don't collect pennies, you have to have a truckload before you feel it's significant! We collect £1 and £2 coins (which sometimes get dipped into if needed for a 'free takeaway' 😇). I've also got a secret jar with a couple of £5 notes in but I don't know how long that will last! But it does feel much more like it's adding up which is what keeps me motivated 👍🏻

    Find whatever works for you and look at the small step forward instead of the distance left to go :)
    On a mission to be mortgage free!
    MFW OP 2017 #106: £16,951.67 / £31, 626.61
  • TahlullahTahlullah Forumite
    1.1K posts
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    New week, although it started yesterday.

    Last week, I met my 'no spend days' target of 4 days, so I have set the same target and have managed Monday (cheat day as I didn't move from the sofa) and Tuesday.

    Would like to say thank you again to Welsh Lassie for pointing me at YNAB. Probably why I am meeting my NSP targets; I am trying to get my head around how this works so have no time to go to the shops. However, its slowly coming together with the aid of YouTube!

    Cycled to work today, so saved on petrol as well. The journey in was easy (downhill). Back was a bit harder. Ok, a lot harder. I had to walk some of the way. I admit I haven't figured out the gears yet, but again, I am certain it will come in time.

    Shifted .64p in my Tilly Tidying towards my £50, and logged it in my YNAB; it will come into its own next month I think. However, I am a bit concerned about the cost. I will revisit closer to the time, as I am on a months free trial at the moment.

    I need some basics from the supermarket, washing powder, deodorant etc. Not food, apart from for Rufus. Will definitely have to spend tomorrow.

    Otherwise, feeling positive, although there is very little movement towards paying the mortgage off any faster.
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • edited 5 May 2017 at 8:36AM
    TahlullahTahlullah Forumite
    1.1K posts
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    edited 5 May 2017 at 8:36AM
    Last day of the working week. Another no spend day yesterday and that makes 3 out of my 4.

    So far, I have £12.69 in my pot to go towards my over-payment but will be paying in my £5 from my pennies pot so that will help towards my target.

    This is moving really slowly as I am still trying to understand YNAB and need an injection of money - formerly known as a wage - into the bank so I can allocate every penny a job. Another 10 days to go before that point.

    Otherwise, I keep chipping away with my no spend days, eating from the freezer when possible, completing surveys, cycling to work to save on fuel costs, taking lunch to work so I don't pay for a sarny. All of which are reducing my outgoings so that I will hopefully have more money to budget and perhaps to save towards the over-payment.

    Currently 25 points away from a payout from Yougov. I had previously decided that I would save this for Christmas, but as I seem to be making absolutely no progress on the savings front, I am rethinking my plan. Maybe I should put it into the mortgage over-payment instead. Immediate gain in terms of interest. And hopefully by Christmas, I may have a handle on YNAB and would have saved the £50 and more for Christmas anyway.

    Will have to give it a bit more thought.
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • WelshlassieWelshlassie Forumite
    1.7K posts
    Well done you. There are 3 month trials out there and if you haven't got your head around it by the end of the 34 day trial email them and ask for an extension. Their customer service is fantastic. There are some great FB support groups where you can ask questions and the online classes are also great if you have a specific question.

    I found I was better off financially after about 6 weeks. The subscription is a consideration but I definitely saved more than the subscription in the first couple of months and now I have an annual subscriptions category that YNAB is part of that I save towards every year.

    Happy to help where I can though. You'll get there.
  • TahlullahTahlullah Forumite
    1.1K posts
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    Thanks Welsh Lassie. I am still persevering and have made up my mind to invest when the trail runs out. I am not yet seeing the big benefits, but am experiencing the advantages of budgeting! This has been really fun, operating with given parameters, and being able to roll with the punches when needed.

    Hopefully, when things have settled down a bit more, I will be able to start saving, for things like the car repairs that I will need at MOT time (which falls in December) and Christmas.

    Thank you for the recommendation. If I get stuck or lost, I will ask.

    Anyway, I have still been sticking to my no spend days and met my target last week.

    Another no spend day for me today, and working from home tomorrow, so that will be 2 for the week. Not able to Tilly Tidy any more as it affects the money in the account and the budget, so will have to take up Wombling!

    I have high hopes for this! Not sure I will meet my dream of paying off £2k by Christmas as I am looking to begin building up my 3 month buffer - £5.5k. And the way everything is going now, that won't happen for easily 4 years, according to how much money I currently have to save.

    This is a long term game and I intend to meet the challenge!
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • armchairexpertarmchairexpert Forumite
    822 posts
    Seventh Anniversary 500 Posts
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    A 3 month buffer plus a 2k payment is a huge task by Christmas, so don't be hard on yourself if you can't manage both. You're doing great!
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 :eek: aiming for May 2028
    14 August 2017 - Refinanced: $220,000
    January 2019 $211,580 Current MFD 31 June 2036
  • edited 20 May 2017 at 1:55PM
    TahlullahTahlullah Forumite
    1.1K posts
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    edited 20 May 2017 at 1:55PM
    Oh, no chance ACE. Just aspirational! May just about manage to cover Christmas!
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • TahlullahTahlullah Forumite
    1.1K posts
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    Paid in my first £50 over-payment to the mortgage. I am so excited. Such a small amount but a huge step for me. Also have managed 3 NSD's but expecting to go to the shop today, so one more to go for the week. Maybe Friday as I am taking a day TOIL.

    Planning to cycle to work today as well, so still saving on travel costs.

    All these small things seem insignificant, but when put together, they allow me to keep to my new budget and so I have a chance of getting somewhere without over-spending.

    Truly a Green day!!
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
  • TahlullahTahlullah Forumite
    1.1K posts
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    Well, Friday was a big Red day. It was a no spend day as I didn't go to the shops.

    However, it was the start of the big debt. The prequel to the big event. Solicitor said it may not happen (not my luck!) so I am still expecting to have to pay out at least £10k at some point this year. But on Friday, I had to pay the solicitor bill so far of £500. Not loads, but expect more. He is billing me in bite sized chunks so i can budget for it.

    So depressing. But the positive side was I could pay it without resorting to credit. Negative side, I now have NO money left until the end of the month.

    Well, not true. I have managed to retain £20 in the budget for fuel and I have £20 in my purse.

    If I continue with my NSD's and eating from the freezer, plus top ups with cash in my purse, do you think I can get to the end of the month?

    Oooh, new challenge! Bring it on....
    Still striving to be mortgage free before I get to a point I can't enjoy it.

    Owed at the end of -
    02/19 - £78,400. 04/19 - £85,000. 05/19 - £83,300. 06/19 - £78,900.
    07/19 - £77,500. 08/19 - £76,000.
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