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The impossible dream

edited 30 November -1 at 12:00AM in Mortgage-Free Wannabe
411 replies 50.5K views
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Replies

  • TahlullahTahlullah
    1.1K posts
    Forumite
    The excitement of it all!

    Today, I filled in my excel house and my next mortgage payment will take me into the roof! So, only 47 more payments to go before I am totally mortgage free.

    Assuming I get no big sudden debts to pay - which I am expecting to hear something this month or next month at the latest, I will have exactly 4 years before my 56th birthday, which means I am still 55 years old.

    Looks like I am on track to meet my goal. If this happens, I will have managed to pay off my mortgage super early and will have managed to have a life in between.

    I will continue doing what I am doing, as it is clearly working and will continue to try and build myself the £5k buffer and perhaps set myself little goals along the way; to pay off the mortgage a month early, and then 2 months etc. I May have to think on that one again. I think the buffer should come before the extra mortgage payments.

    So pleased. But right now Pop Pickers, I will continue to aim at clearing Mortgage 1 which currently is holding position at Number 19!
    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 9 June 2017 at 7:30AM
    TahlullahTahlullah
    1.1K posts
    Forumite
    edited 9 June 2017 at 7:30AM
    Hello Unicorn Cottage. Do persevere, it really does work once you get the hang of it.

    It starts by letting you know how little money you really have, when you think you have loads and have been overpaying the mortgage. Then you get real and begin to budget and that's when you can make realistic payments which are incumbent free and you can bring your mortgage down without it affecting other aspects of your life.

    Keep at it. It's amazing.

    Tx
    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.
  • TallGirlTallGirl
    4.6K posts
    Forumite
    Part of the Furniture 2500 Posts Mortgage-free Glee!
    ✭✭✭✭
    Sorry I missed the audit bit hope it went well sounds like you are still in the same business as I was all fun and games indeed.
  • edited 8 June 2017 at 6:03PM
    TahlullahTahlullah
    1.1K posts
    Forumite
    edited 8 June 2017 at 6:03PM
    Hi TG. Audit went well thanks. Just a few Corrective Actions. exactly as expected. I don't think any organisation ever passes an audit without some corrective!

    At least now I can relax for another 3 years or so.

    Tx
    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
    820 posts
    Forumite
    Seventh Anniversary
    ✭✭✭
    Phew! That's one thing less on your mind. Glad your holidays were so good, and I'm impressed about the spending money!
    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
  • TahlullahTahlullah
    1.1K posts
    Forumite
    Thanks ACE. Yes, one thing less to worry about, but of course, instantly replaced with something else. Can't wait to retire!

    The spending money was fantastic wasn't it? All I did was take out a lump sum on arrival from the hole in the wall, and spend that. By the day before I flew back, I was looking to see if I really needed to spend any more and the answer was no. I had bought everything I wanted and so it just had to pay for a few drinks in the bar - not too excessive as it's awful travelling with a hangover; a bit to spend in the airport and a coffee on the plane.

    Once back in the UK, I had sterling, so I actually have about 7 Euros left in my holiday purse, plus whats in the bank. I guess YNAB really does impact on all aspect of your life once you embrace it. You look to see 'Do I really need that last JD and Coke?' 'Am I actually hungry or just looking to spend money because I am on holiday?'

    Fabulous as it means less to find for the next one. Over the moon in fact.

    Only downside of the holiday was coming back to an ill Rufus. Not sure what happened, but he was subdued and then started up-chucking everywhere. Looking at his scratchier that was with him at the hotel, he had up-chucked on that as well, so I have no idea how long he had been ill before I collected him. But, he is getting back to normal and has started to eat again.

    Today was a NSD. Didn't cycle to work because of the extremely random weather we are having. Booked the Dentist for next month - planned that way to suit my budget and she said I hadn't been since 2013!! Oh well, all I need is a clean! Still £50 budgeted for so that will keep me another 4 years.

    Right, going to eat my popcorn and look at wedding presents - already budgeted for.

    Tx
    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.
  • TallGirlTallGirl
    4.6K posts
    Forumite
    Part of the Furniture 2500 Posts Mortgage-free Glee!
    ✭✭✭✭
    Well done on the audit yes everyone gets those part of the sector we work in.

    Good on the holiday spending I'm the same just spend for the sake of it pointless.

    Enjoy the pop corn my favourite too but has to be salty for me.
  • TahlullahTahlullah
    1.1K posts
    Forumite
    Ahhh. Salty - Abomination!!!
    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
    1.1K posts
    Forumite
    Had 3 NSD's and then had to buy a twin pack of Bionaire Air Filters for the filter in the bedroom. Not budgeted for. Another expense you just don't think about that you have to buy every so often.

    Not a worry as there was money in the budget under the 'Emergency Fund'. Not really an emergency, but certainly unexpected. Anyway, the filters were filthy. So glad I have them. The air here is terrible so well worth the expense. Just imagine breathing in that level of dirt. And there is no way the filters catch all of the particles in the air, they just help.

    Oh well, filter the air in the flat and then go and cycle to work breathing it all in. Defeats the purpose of the filtration somewhat.

    Nothing exciting going on here. Everything is working the way it should, just not seeing much progress in the overpaying on the mortgage front. I have to keep reminding myself that by spending less here, it means I am able to save small amounts which go towards the mortgage.

    I am online with my target of £50 per month. I can't understand how I ever managed to overpay in the past. I guess the blissful ignorance allowed me to think I had more money than I really did. Now, my money has to do so much more than just overpay the mortgage so I see how little disposable I really have.
    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
    1.7K posts
    Forumite
    Well done on your holiday spending Tahullah, YNAB really opens your eyes doesn't it. I think you hit the nail on the head "it's blissful ignorance" cause you still end up paying for all the things you need as you need them but sometimes have to borrow from Peter to pay Paul to do it. At least with YNAB you have thought it through in advance.

    Those filters are worth including in a home maintenance category for next time you need them, it's not classed as an unexpected expense next time cause you've had one in YNAb, plan for it next time :)
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