Starting BEFORE I mean to go on

tootallulah

Your thread resonates with me my first flat was shared ownership it was the only way I could afford a flat in London. I paid off my first mortgage, got a good value mortgage for the next 50% and did the same, it took me 15 years and I lived a great London life in that time. I then kept the flat and bought a house, then I re mortgaged the flat and bought a second flat as part of my pension. Phew that shared ownership was a real catalyst for me when I earned so little in the beginning.

My only advice is that the first year is really tough and expensive, you are in shared ownership because of affordability it is hard. What I determined was that by month 6 I would know exactly where I was moneywise and how I wanted to live my life, holidays, going out etc. Then I created an old fashioned budget and stuck to it, by month 7 I started making little overpayments and built it up as I could, it was often only £10-£20. The little and often works and even by the end of year 1 I had paid off some of the capital and had cut two months from the mortgage. Gosh I should take my own advice I was a much better payer off in my 20s! Good luck I hope that you are very happy in your new home.

specialkaye

Just a quick update today,

I've been away camping and walking at the weekend with some of my cadets- had 5 tents trying to dry out in my garden today - and what did it do 5 mins before i left work - thats right its rained . Absolutely shattered today - didnt get organised for lunch so £3 there and had takeaway tonight so £7 there, total £10 spent for the day.

Had a potential lodger round today - only turns out he just got the sack from my own employer for theft!! THIS WEEK!! AWKWARD!!

Needless to say I am still looking.

Too tired to process much else tonight - night!!

specialkaye

Well started back at college this week, an hour and a half each way luckily my work pays for my travel costs, just need to keep my food costs down - not easy when i get the need for sugar at 11am and 3pm. Concentrating hurts!!! Booked myself earlier trains back so hopefully no chance to be temped by the shops before my train home.

Also found myself a lodger, an extra £300 a month from the 23rd August. Pay day in 2 weeks.

My little furry babies have hopefully stopped costing me money for the rest of year, all jabs and ops completed. Now to focus on car repairs needed. Never ending!!

still need to submit my milage claim and change my gas/leccie. On a plus its only costing me £50 a month for both atm.

specialkaye

Been out for my big shop of the month, kitty food was on 2 for £5 for a bought 8!! I also has a load of tesco coupons through the door this week - all of which were actually useable. was a bit dissapointed as i thought this mean that my old ones had therefore ran out but no they were still in date so 12 coupons and £10 saved. Plus tesco thought my shop would have been cheaper elsewhere so have given me £1.39 off my next shop. Based on the individual prices of all my goods I saved over £20 - a 25% saving. WINNER!

Other MSE ive done this week - I've increased the amount i'm paying back my Dad by £75 a month. Going to do the same with my mortgage as I wont miss it if I dont see it.

OOOO just checked my top cask back account and my car insurance has tracked!! £30 sat in there now. Not sure what the best way of withdrawing it is. Maybe tesco points so i can double up etc??? Any thoughts? Might go scour the forums as there is boung to be a topic on this.

Bought myself a DIY lodger agreement in preparation for my lodger moving in. Doing this for my peace of mind as a don't know this one personally. Just text him to make sure we are still on, will try and get him to come and sign this agreement and pay up some money as i dont wanna wait until the last minute and have him pull out.

specialkaye

Some major (ish) MSE news this week - I've upped my SO to my Dad by £75 and my mortgage payments by £74.74 to make them both up to a nice round £250 each. Means I pay my Dad back over a year early and save about £100 in interest and my mortgage is now 14 years early and saving nearly £12000 in interest. Happy days. Will look at maybe increasing the mortgage one again after Xmas, gives me time to gauge how im coping with the increases.

Had my friend up for the weekend, will have cost me less than £70 and that includes fuel that will last me until the end of the month at least. Thats a lot cheaper than if I go down to London to see her!! Luckily she is coming up this way again next month so itll be Nov/Dec before I make the trip again.

No college this week either so that will probably save me £5-£10 on food and drink tomorrow. Other main spends of mine that ive identified are lunch - i was eating out 2-3 times a week and then shop bought the rest of the week.

With the miserable weather this week ive started looking forward now to winter which brought about thoughts about xmas - it seems im reasonably prepared already - ive been buying bits and peices in sales for people, have a ton of cards left over from last year or bought in feb when they were 10p, my xmas tree from last year is still alive in its pot and has grown about 15% and looks a lot less tiddly- looking at the price of the size it is now think ill have saved £40. No plans on changing lights/decorations. Xmas dinner will be at Mums/Dads. And I still don't have kids to spend money on (intentionally lol).

Right I need to go pick up a wardrobe i've just bought in preparation for my lodger moving in next week. Worked out the lodger money is the equivalent of giving myself a nearly 20% pay rise (inc tax, NI, Student loan and Pension contributions I would have to pay on salary). Not bad as im not going to be earning that amount for a good 4-5 years yet.

Toodles

giblet1979

Hey SK,
Sorry I've not been around for a bit - just catching up! Really great news about the lodger and the increased payments to dad and mortgage...what brilliant progress!
You've made me think that I need to get a bit organised for Xmas...I always leave it to the last minute which ends up costing more. Can't believe how fast this year has gone tho! x

specialkaye

Hey Giblet thanks for dropping by. This year has definitely flown by.

I do love the Christmas atmosphere so I try not to be too organised so I can hustle and bustle along with the rest of the shoppers. i think what important is that the cost is spread over a few months and not just using Novembers pay.

Setting myself a little challenge to not buy ANY new clothing until October - about 6 weeks. Shouldn't be too difficult (she says now!!) That includes walking gear as I believe I have anything I need for now. Kit for the outdoors is quite expensive so quite a lot of my money has gone on that kind of kit in the last few months.

Also NO MORE NAIL POLISH!!! i dont need any more.

My other MSE this week was to rent a film instead of buying it new - saved £7, then I wanted to read the 5 sequels,as best sellers they were £35 to buy the set of 6 or about £25 to digitally buy. Digitally borrow from local library FREE!!! Happy days.

need to pre make lunch for tomorrow as well to stop me being tempted by eating out. Even if i just get the meal deals every day thats £15 a week/ £60 a month I can put towards a savings pot/ overpayment. Also I want to walk to work at least 2ce a week, probably Mondays, Tuesdays and Thursdays. Keep that fuel consumption down!!

Well thats a few things to keep me going for the next week.

Got a feeling ill have few costly things to pay for in the next couple of months, new car tyres and a new laptop. Mine is now 7 years old and has a cracked screen although it does still work I seem to be having more and more i- want- to- throw- it- out- the- window moments!!

specialkaye

Pay day tomorrow!!

Today has also been a NSD, happy days. It was a close call - was going to be going out for lunch with my friend but he had to cover another buildings reception so I just ate my soup I had in the fridge.

Just need to prep for my lodger moving in at the weekend. Mountain of ironing to do

Also working this weekend so limited spending opportunities

giblet1979

Loving the positive spin on work i.e. earning plus not spending. Makes it seem nicer somehow, lol x

specialkaye

Yep thats the plan, working and studying and cadets/walking leaves little time for spending money.

So updates:

Lodger is now successfully moved in. Haven't actually seen him since a left for work Saturday afternoon and has kept himself in his room, perfect lodger material. Actually scratch that , i think someone that I have stuff in common with and can interact and banter a bit would be better.

Low spend weekend, went out on the town last night and spent a grand total of £13, had a few at a friends before going out late. Today spent £3 on food while at work as i didn't have any food in.

O and £20 on my cousins birthday present.

Didnt think that was too bad.

Had my confirmation letter through from the mortgage co. confirming my increased dd to £250, so on the first ill have made my first overpayment

Jobs for this week:

Inform council tax of new lodger
Paint some more garden fence
Ironing

Jobs for the month:

Submit cadet milage claim
Lose 6lbs -weigh in Tuesday
Complete filing
Arrange for new curtains to be altered - cats now old enough to not to want to attack them so should be safe to put up



I could also really do with finding out where my water meter is as ive been having estimated readings since i moved in. never know may be due a rebate??!!

Too tired to really think about much else, bed at 3:30 am isn't a good idea. Is it too early to go to bed yet??!!!