mortgage free by 45 diary

Yorkielass

Doing brilliantly suse* - it's definitely worth making those little savings.

I've just made an overpayment of £17 (1ps, 2ps & 5ps we've saved up from change etc) and the mortgage overpayment calculator says that'll save £51 in interest for me. I find little numbers and the calculator really motivating.

Will follow your progress.

suse*

I think you are right Imma Number that it makes no difference to the overall interest by overpaying rather than having it in the offset savings.

I feel a lot better seeing this today though Outstanding balance: £115695.49 rather than the 117 something it was yesterday.

I think I will just go with my original plan where I don't touch my emergency fund money, and then decide a number to have for my other savings for like holidays etc and once it gets above that number move any extra over to pay the mortgage instead so I don't end up spending it by mistake.

That way I will see the balance going down faster as well which will make it more worth it in a way, even though it would save the same interest as in the offset, it makes more sense to me to be able to see a lower final total as well.

suse*

Start of the month my car broke down so that was 260 quid I hadn't planned for. Then I ended up paying extra for train tickets for my trip away as I got man flu, and just wanted to come home early and get to bed rather than wander about london in the cold.

I did change my dd though so when the first payment went out so that was a 145 quid over payment.

I paid in some old dollars and euros I had left over from some different trips so that came to 140 that I've put in the offset for now.

I had to pay out nearly 100 to the dentist so have done the claim forms for bupa for that, so once that comes back I will put that in the offset too.

The trains to london were delayed as well so I have filled in the claim form to get a refund for that, as it was 2 single tickets though I think I will only end up with 17 quid though but ever little helps.

I have been struggling with the man flu and not getting out to shop but I was very good the other night and didn't order take away. So as I did resist though I overpaid 25 quid as better that than it going to dominos especially as dominos is always dissapointing once it arrives. So I think I am going to do this more often, and try and really think do I really really want take away, or can I save the money for an overpayment instead.

With the changes in the autum statment as well with state pension not kicking in till 70, I think I need to even more save as get this paid asap so I can then focus on my pension etc.

Overpayments in december so far 170
Added to offset in december so far 1125 - expenses from work trip, overtime, old dollars and euros

suse*

I have had a nice email this morning saying there is 46.86 going into my offset from quidco today which was unexpected.

I have signed up for the mfw 2014 challenge too which will be my 145 a month plus 9.14 a day of interest, as I don't like how it slowly creeps up each month do to more interest going on each day. Hopefully I will get enough overtime etc to manage this but just the sooner this is paid the better I think. Even if it is just to get it from 75 ltv to under 60 asap as I don't want to be stuck in negative equity like that ever again.

Reading some of the other posts last night I noticed something called a Tilly tidy, can someone explain to me what that is about? I tried searching the forum for it but couldn't find out what it was.

suse*

Well been a busy few days for different reasons, but I am now curled up on the sofa for the night now.

I paid all my wages into the offset the day I got paid to get the benefit. Even if it is only for a week or so it should reduce the interest a tiny bit.I need to have a look through my direct debit dates, and see which ones I can move to later in the month to have it in their the longest.

I have been saving inspirational quotes from facebook, to save them up thinking I would look into making a calendar. vistaprint started having adverts on the telly for a 7.99 deal, so with using quicdo as well that saved me another pound. So 6.99 for a calendar where I like every month too seems well worth it. also depending on what the quality ends up being I can save the pictures and maybe stick them up in my study afterwards.

I posted in the oldstyle board too about help with ideas for cooking just with the problems I have. I shouldn't be so surprised with the amazing people on mse but they told me of this brilliant way to make your own frozen readymeals where you freeze the recipe raw in a freezer bag in portions, then just cook it in the slow cooker when needed. I have used my slow cooker in the past but was never sure about freezing cooked food and reheating etc where this way it is only cooked once which sounds loads better.

I am going to try and go through all my cupboards and see what is already in the freezer, and see what I could possibly make up. Just as food and takeaways are probably my worst budget area, as my health fluctuates so much, I do end up eating takeaway more than I should.

Thanks to tilly for explaining tilly tidies on another post, which I now can't find again, I have done a couple of transfers so far but I am liking that idea so will try and do it a couple of times a week I think. That should help with the 2014 overpayment challenge too I think.

For the first year in ages I posted cards in time and have a good think about who I wanted to buy for or not. I am too generous to people who don't deserve it or just take advantage so this year I spent 99p on some cards at aldi and 61 quid on pressies. The 1 being the best actually as it was for 2 chocolate Santa's from aldi today, as they are starting to reduce a lot of stuff. So I think I am all done and will hopefully not have to venture into a supermarket again till next year.

suse*

I was a bit naughty and my see what food I have and do a meal plan didn't quite work out. I actually ended up spending even more than normal this week on food, as I got caught up in the christmas madness. I had wanted to try and get enough so I wouldn't have to think of going into a busy supermarket and just go again after new years.

So I still need to go through everything and make lists of what I have and what can be used to make up some "dump bags" for the freezer. I did get a big box of chicken legs and thighs for £2.95 which I would never normally buy to help start me off. So it is just working out what to make with them and get them all bagged up to try another day.

I have been having a sort out very slowly for a while now, just trying to declutter, as I have moved so many times over the years since uni. I ended up not knowing what is in half the boxes I have in the spare room, as I never got arround to unpacking fully, so end up with duplicates of things too. I have done the easy things like musicmagpie to get rid of a load of cd's and dvd's as I just use netflixs now really.

Next I was thinking clothes, as I had seen a clothes by weight place in town. It turns out they pay 50p a kilo but I have found what looks a great offer with returntoearn.co.uk where if you like their facebook page the give you a link to get 70p a kilo. I don't have any sort of designer clothes or anything that would have resale enough to list on ebay, so I think this looks like a good way to have a clear out especially as they collect it.

I also have been good and managed not to impulse buy some books, and have instead managed to reserve a few via the library website so that is only 25p per book. I can then see afterwards if I still need to buy them as well I was thinking.

Also it looks like most libraries now do free audiobooks you can sign up to download as well as some ebooks, at my library though the ebooks aren't compatible with kindle which is a shame. You just need to have a library card and an online login so if anyone likes audio books check your local library website for details.

I just need to keep having a sort out though I think and find easy places to maybe sell some more stuff, or maybe start making a car boot pile and try and have a go at one of those when the weather gets better. I don't think I have the time to ebay lots of little things, especially when I am worried after fees and postage it might mean I loose money. A friend mentioned the website preloved for an eletric guitar that I don't use. It was one I got from ebay for £50 a few years back, so would be good for a beginner, but I wouldn't know where to start to post that if I put it on ebay. I'd be worried I might not sell it for enough to cover costs if I only put it on as collection only too.

I have noticed my newish energy supplier has built up quite a bit of credit already in the first 4 months. I am going to wait till the next statement in Jan, but I might contact them to get the direct debit reduced a bit or something, just to use some of it up. Just as since I have been with them the heating has been on, so it isn't like my useage is going to increase any more than what it has been the past couple of months.

I survived the hygenist again yesterday too, but they are letting me pay for it at my next appointment after new year so it counts towards next years insurance. Then after that last appointment I hopefully won't need any other work doing or ever have to go back. Ok maybe I will have to go back, but with not going for over 10 years having been 6 times to the dentist / hygenist in the past couple of months I think I deserve a big "you've been brave" sticker, and time off for good behaviour. Saying that I am still waiting for the money to come through from the last claim I posted a couple of weeks back, but I will wait till after new year to chase that if I don't hear anything before then.

My Tilly Tidies now stand at £2.61 already for just 3 payments which is amazing how quick it adds up. I shouldn't have anything going out of my account again now until the 27th though, so I can't do another one until then. This must be the first time for years I can tell that so exactly though, as to when money is next going out and how much, or that I am excited it will be so I can then do another transfer.

suse*

I was looking for new budgeting software the other day, as I used to have quicken a million years ago, and have tried ms money but it never worked the way I wanted it to really. So after looking at a few different options I downloaded a trial of ynab and am addicted already.

It is just want I need really as it lets you track your spending and categorise it all, but it also lets you put your savings into different categories. As I have the offset slowly growing each month, it has been harder and harder to remember what some of the money is in there for, and what else I still need to save for.

So with this I now have categories for things like white goods breaking, a new old car, holidays and books and training courses I need for work etc. I think I had been so used to just paying for things as I knew I had the savings, I wasn't being as strict still as what I could be. This way I can see better now what my savings / emergency fund could get me I supose, and how I could do with some more in some areas.

As far as the mortgage goes though it still helps that too, as these savings are all in the offset anyway. I'm not sure I'm explaining this well enough, but as I have my emergency fund sorted now, it isn't like if the car does break down again I can't fix it, but I guess it is now having other savings started so I don't have to spend that money.

I just want the emergency fund for if I get made redundant again, so I just want to make sure I'm self insuring now for things in the house and the car on top of that. I was just finding it hard to look at the offset and remember what I had reserved bits of that money for or not.

Now I can do that with this software at a glance, so I have setup a category for the 2014 mfw challenge, but I also just want to make sure I don't have to touch the emergency fund if the washing machine breaks or whatever.

Since my overspend on food the other day I am going to try and have nsd's now until the 6th. I have to pay out parking on the 2nd for a hour or so, but I think apart from that, and just normal direct debits, I don't think there is anything else I have to spend money on before then.

gallygirl

You sound really organised and focused - well done :T. Here's to a great 2014 :beer:.

suse*

Thanks Gallygirl but I just broke my nsd already.

I just spent £90.67 on 158 plants and 9 raspberry canes at Thompson and Morgan. Well no it isn't actually as bad as that, as I had clubcard vouchers so the actual cash spent was 67p as I couldn't split the orders well enough to not have to pay anything at all. I did order something that gets me a free £5 voucher though too, so once I get this lot through and planted which should be around march from what they are saying I can then decide what to do next.

I am not green fingered at all though, and the back garden was covered with gravel up until a month or so ago. I found some crazy people from freecycle though who spent weeks digging up most of the gravel, so the garden is back to a blank slate really. The gravel was put down by the people who owned the house before, but because it hadn't been lined it was usless and just turned into a weed jungle each year.

I had been thinking of doing raised beds and growing food too and the raspberrys are the start for that. I was thinking though maybe I could find someone who wanted an allotment, and get them to help me do the physical side of it all to share the crop then or something.

I do have a dog so had been thinking of grass for her maybe but I think that might be too high maintance really for me, and I don't think I want to commit to something which I'll need to pay for someone else to look after.

So I think a mix of flowers, raised beds, maybe some paths between them, and maybe a patch of offcut astroturf from ebay for the dog to have somewhere to sunbathe.

suse*

I phoned the eletric / gas company but they won't even consider lowering my direct debit yet even though I have 270 in credit. They said I have to wait till after winter whatever that means. I can understand it a bit that it is better to have money saved up to cover bigger gas bills, but since I moved there they really over estimate my bill each month, so when they then lower it to be my readings it has even been a negative bill once. Oh well I will just have to keep an eye on it and maybe try again in Feb.

I have done a 50p tilly tidy today, and it looks like my mortgage interest is down to £8.94 today just with most of my wages still being in the offset. I am going to see if I can try and get some of the direct debits due next week moved back to later in the month, just so I can keep the money in the offset for longer each month.