Aspirations of Frugality and Fun on the Road to Mortgage Freedom

Karmacat

You know, in thinking I have such a lot of pension to save for, I've completely let go of the drip by drip stuff of ebaying and amazon ... I've got stuff put aside, I just don't do it Its an energy thing too, of course, I've had a lot of chronic ( = not serious, just tiring) illnesses since I've been in this house. Coming onto this board has really invigorated me tho! Thanks DDFW! Hope you get your studying done tonight.

Alchemilla

Bet you were glad to see the back of that assignment.

greent

Yeay! re: finishing assignment - am sure that's a lovely relief to have got it out of the way! x

DedicatedDFW

Alchemilla wrote: »

Bet you were glad to see the back of that assignment.

greent wrote: »

Yeay! re: finishing assignment - am sure that's a lovely relief to have got it out of the way! x

Aw thanks guys Yep feel better for having submitted it at the mo. although i am carping it about the result :rotfl::rotfl::rotfl:

I am also enjoying the glass of vino i didn't get yesterday :beer: and have eaten cake :bdaycake: and have eaten after 8pm as well and i am not going to worry about it - (not drinking alcohol, eating cake and not eating after 8pm are all a personal challenge this month) but i figured i can allow myself 1 night off

Also re. assignment i am also trying to just press on with the next bit of study and not dwell on it. This is part of a much bigger goal for me - to try and give 100% to the present task or being disciplined and focused - rather than eg be in work but thinking about the weekend etc. Of course i multi-task with the best of them and some tasks demand multi tasking - like waiting for the phone to be answered whilst looking something else up etc. So its more to do with the big important stuff like if i'm talking to someone i want to give them all of my attention rather than fretting over other things - i did this alot when i was in debt - money would be constantly on my mind so although i'd go out etc. the worry and thought of money and how i'd earn more etc. was always there and i'd be thinking 'ooh must lift this out to list for sale etc.' i guess some of it is enjoying and appreciating being in the moment - Whoops bit of an essay there :eek:

DedicatedDFW

Karmacat wrote: »

You know, in thinking I have such a lot of pension to save for, I've completely let go of the drip by drip stuff of ebaying and amazon ... I've got stuff put aside, I just don't do it Its an energy thing too, of course, I've had a lot of chronic ( = not serious, just tiring) illnesses since I've been in this house. Coming onto this board has really invigorated me tho! Thanks DDFW! Hope you get your studying done tonight.

Hey KC Me, jwil and Lam set up a mini bay of e challenge this month - just personal targets set so i think jwil and Lam both set to raise £x and i set to list 100 items I am sure this will continue next month so you are welcome to join us if you like I say next month as i only list on FLW normally and doubt there'll be another this month - but just jump in with a target if you want

I totally understand with the energy hon - thats why my illnesses have been so annoying as i have been completely exhausted x hope you're all better now?

Karmacat

Sounds great! I may join you next month - I have a little pile that could go on Amazon, and a bit on ebay - its certainly the best way of decluttering, to earn money by doing it. At the very least, I could go through my CDs and get some onto music magpie - I hardly ever listen to them.

Energy levels are a lot better, thanks - the arthritis creates energy problems - different sorts of pains, and they have differing effects on energy, but at the moment, its really good

Yours sound really tough, I'm sorry you've got so much going on. I find the more I learn about my individual digestive system, the better I cope: I'm rubbish at digesting fatty foods, for instance, and I need my porridge much better cooked than I used to have and it's better when I exercise (tho then my arthritis hurts!).

Ah well - better this than the alternative! I'm glad I have the chance to carry on working all this stuff through.

Don't keep on the books till midnight!

DedicatedDFW

Karmacat wrote: »

Sounds great! I may join you next month - I have a little pile that could go on Amazon, and a bit on ebay - its certainly the best way of decluttering, to earn money by doing it. At the very least, I could go through my CDs and get some onto music magpie - I hardly ever listen to them.

Energy levels are a lot better, thanks - the arthritis creates energy problems - different sorts of pains, and they have differing effects on energy, but at the moment, its really good

Yours sound really tough, I'm sorry you've got so much going on. I find the more I learn about my individual digestive system, the better I cope: I'm rubbish at digesting fatty foods, for instance, and I need my porridge much better cooked than I used to have and it's better when I exercise (tho then my arthritis hurts!).

Ah well - better this than the alternative! I'm glad I have the chance to carry on working all this stuff through.

Don't keep on the books till midnight!

It would be fab if you joined us KC - and the added benefit of that lovely feeling you get from getting rid of stuff :T as Alchemilla said it is liberating

I am sorry to hear about your arthritis and i remember before when you were posting about being ill too and i am know this is worse than my little collection of annoyances x

How did you find out about your what works for you food wise KC? I've heard of some sort of blood test i could have done and am really thinking about this.

I am glad you are much better now hon and i am glad you ahve your thread again too

DedicatedDFW

I'd be really greatful for any advice / help / input please

I am considering stoozing by doing a balance transfer.

If i can do this the fee for the transfer is 1.48% less than the interest rate i am paying on my mortgage - i am on a hight rate considering BOE base rate

I am thinking this would allow me to overpay a lump sum to my mortgage - less than £2000 i think due to the transfer fee.

It would take me 10 months to repay the card balance on 0%

If i didn't do this it would take me 10 months to just pay this amount straight to the mortgage in £200 month installments.

I don't know that i've got my head around it properly as i am thinking just by doing the transfer i instantly save 1.48% on this amount but if i didn't do this the +1.48% that i would pay is being paid each month to the mortgage (on a lowering balance basis due to £200 payments to the mortgage each month) so really i am saving more than the 1.48% - jeez my explanation isn't the best is it

Please help.

Also the balance i transfer would be repaid each month by the money i overpay the mortgage by any way - it is affordable. Or i may choose to just cover a bit more than the minimum each month thereby still having money to overpay the mortgage whilst having a plan in place to clear the card by the end of the 0% term.

edinburgher

Isn't the amount saved the difference between the mortgage interest rate and the fee?

So you're looking at roughly credit limit * difference * time period? So say £2000 * 1.48% * 2 (years) = something like £60?

My maths may be wrong. If not, it's a lot of effort for £2.5/mth.

Edit: If you paid just over the minimum (say an extra pound a month) and save the rest (£174 or so) in a N@tionwide Flex Direct account for 10 months, that would be another £30 or so, so maybe £90 total saving over 2 years?

If you were considering this route, the best bet would be to pay back the money as slowly as possibly to increase the time you can keep the money in savings.

The problem with stoozing is the fact that you need to pay the money back

A 0% 'slow stooze' may work better, as you can get the full 4.89% free interest on purchases, as opposed to the balance transfer, where you've paid a fee, which decreases the saving.

Karmacat

DDFW, I'm really sorry, I used to stooze myself, though not to o/p, just to earn interest ... I just don't get the figures that you've written, though, sorry, I think its the format - I always write this kind of thing out in a table, to make it more comprehensible for me. As an example (and I have no idea if these are your figures, so don't take it as meaning anything in your own RL):

£2000 borrowed on balance transfer.

£40 is 2% of £2000, the (imaginary) fee

£80 is 4% of 2000, I'd save this by paying off the £2000 from my mortgage. (this amount is actually variable, usually, because of repayments varying, I'm just rounding things out here).

80 - 40 = £40 saving.

A £40 a year saving is good, but like Martin says, you *have* to be good with figures to make it work, and if you aren't, if you don't pay back in full before the 0% runs out, or roll it over to another card (if you've done your sums, and thats still profitable) then you lose your profit very easily, and it ends up actually costing you.

HTH ...