Simple living in our tiny 500 sq ft cottage, on our way to becoming mortgage free.

GemDoll

I'm starting this diary as we are making our first over payment today!

In early spring this year we downsized from a three bed rental which was over 1000 sq ft in size with three bedrooms and downsized by buying a two bedroom cottage which is just over 500 sq ft. We are a family of four, two adults and two children.

We have a Nationwide mortgage and the amount advanced to us was £142,200.00 over a 30 year term. The interest rate is 4.99 % and fixed for five years which expires January 2018.

As it stands, the agreed payment date is January 2043.
We want to bring the length of the term DOWN!

A bit about me/our family:

Interested in the tiny house living and downsizing movement in conjunction with children and family life.

I'm life long vegetarian and the children are also vegetarian.

We eat organic food, frugally!

We cook from scratch and bake all our own bread.

I'm personally interested in minimalism and family life.

We currently renovating our cottage, moving the staircase, stripping original floorboards, replastering everywhere, installing a woodburner...etc etc

Planning on container growing veg in our tiny courtyard garden which has a patch of sunlight in the spring/summer time, perfect for growing veggies!


Words which inspire me:

"We ascribe beauty to that which is simple; which has no superfluous parts; which exactly answers its end; which stands related to all things."
Emerson

"Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away."
Antoine de Saint-Exupery

racing_blue

I like you already!

What do you think of this sort of approach to personal finance?
http://www.mrmoneymustache.com/2013/09/20/wealth-advice-that-should-be-obvious/

GemDoll

I have just returned from making our first over-payment!:T
£159.00 over-payed for September.

My husband is missing dinner tonight so I'm planning on making the children a macaroni cheese with veg and I will make a double batch to freeze a portion for them for another time. I popped into Tesco's and grabbed a half price frozen pizza for £1.39 to have with some veggies once I've put the children to bed. I don't often buy pre-made pizza but sometimes it's nice to relax on the sofa with something I haven't cooked! :rotfl: The £1.39 came from the food 'purse' we have for the week which we put in £70, anything we don't spend goes straight into the over payment pot!

GemDoll

racing_blue wrote: »

I like you already!

What do you think of this sort of approach to personal finance?
http://www.mrmoneymustache.com/2013/09/20/wealth-advice-that-should-be-obvious/

Thank you
I loved the article by the way. So many good points. We gave up playing the lottery several years ago... I was nodding my head the whole time I was reading it.

KolaKube

Good luck Gemdoll

Dark_Star

This dates from 2007 but even more relevant now....

http://www.theage.com.au/news/opinion/spend-spend-spend-its-no-way-to-happiness/2007/09/25/1190486307021.html

For those pondering...a doona is the Australian for duvet cover

I'm not against the lottery IF done occasionally for fun using lucky dip numbers. That way you can buy one perhaps to add in to a birthday card & not worry if you don't buy it week in & week out.

Happy living everyone

GemDoll

Dark_Star wrote: »

This dates from 2007 but even more relevant now....

http://www.theage.com.au/news/opinion/spend-spend-spend-its-no-way-to-happiness/2007/09/25/1190486307021.html

For those pondering...a doona is the Australian for duvet cover

I'm not against the lottery IF done occasionally for fun using lucky dip numbers. That way you can buy one perhaps to add in to a birthday card & not worry if you don't buy it week in & week out.

Happy living everyone

Thank you for the article.
We did only used to use lucky dip numbers, my dad gave me that advice years ago and I never forgot it!

GemDoll

I just e.mailed an old work place about some money payed into a pension pot over the course of a year before I left to have my first baby. Goodness know where the money is now but I thought it is worth chasing it even if it is just a few pounds it can still go into the over-payment pot!

Happier_Me

Welcome to the MFW site GemDoll, I've been looking out for your diary.

And well done on your first overpayment:j

GemDoll

Thank you HappierMe
I'm very exited and so is my husband. He told me he has another £50 for September's over payment which I need to pay in ASAP :j

tootoo

Welcome to MFW!