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Simple, Slow Steps To Happiness & Mortgage Freedom

Hello,

I am back after a very notable absense - my last diary is here http://forums.moneysavingexpert.com/showthread.php?t=4051663

I felt my next step on my mortgage free journey warranted a new diary. I have oh so much to tell you and the future is set to be very frugal, slightly daunting but very happy!

I had to give up blogging as the information I was posting was being used against us in arguments so instead I am back here, using this diary to keep me motivated and letting nothing stop us as we work towards our goals.

I need to get all our latest figures from the PC so I will update those later but looking forward to sharing our journey, making some short term goals and finding out what you have all been doing whilst I have been away!

IWAB xx
DFW diary - Surprise we are debt free
Debt balance at 25/08/16 - £4445.24
Very Ambitious Debt Free Date 24/12/2016
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Replies

  • kmcld2kmcld2 Forumite
    61 Posts
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Forumite
    Lovely to see you back! I followed your last thread and will subscribe to this one.
    Kelly. x
    Mortgage Free Wannabe:

    June 2020: £43,025.94
    5 year fixed rate: 1.84%
    Monthly payment: £190.91
    Mortgage free by: 30/06/25
    Mortgage term: 23 years

    My mortgage free diary is here.
    Pay All Your Debt Off By Xmas 2022 - #58 (£840 / £3159.85)
    New credit card balance: £2319.85
  • Muser1Muser1 Forumite
    795 Posts
    Fab that you are back! I subscribed to your blog too I thought you had been quiet. Boo to the arguments. Welcome home.x
    Mortgage Jan 13 99260.00 87253 April 2017
    Emergency fund 700.00
  • I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    Update:


    So I will spare you all the fine details of the past and update you on the few key points:
    • I have a husband, two children & a puppy.
    • We bought our first home in Oct 2012.
    • We opted for a 5 year fix at 3.99% repayment as I am a stay at home mum and needed to be sure of our repayments in the near future.
    • We had planned to stay here until the fix was up (at least) and then if finances allowed slightly upsize/move near a better school.
    • The plan is that I stay at sahm indefinitely.
    • I love budgets, have a mega spreadsheet and enjoy saving pennies & pounds even on our VERY TIGHT budget.
    Here is where things changed:


    Over the last couple of years we have been discussing the hypothetical option of moving next to my in laws. They would build an annexe to move into and we would move into their large 3 bed bungalow. We would help them look after the place which is far too big with too much land for them to keep on top of. It would save us lots of trips over to help which we are currently doing now. The kids would go to a better school. We would all live the village life.


    We very much doubted this would ever become a reality as there is an agricultural tie on the property and a previous discussion with the council on a slightly different plan was extremely negative.


    However we were surprised when our in laws told us in November that they had plans drawn up & submitted and even more surprised on the 3rd of January when we found out they were approved!


    So we are now looking at moving into the inlaws at the end of this year/beginning of next. Once the building work has been completed. Other key info regarding this big change is:


    • We are keeping the house & renting it to my sister & her flatmate. My inlaws were VERY against us selling to use some cash to pay for alterations so we have been talked around.
    • We will be paying for alterations to the existing bungalow which include knocking down walls, creating a back door, creating an extra bathroom, adding a new(er) kitchen. This will all be done asap.
    • We will be renovating the other rooms of the bungalow & adding a patio as funds allow.
    Current mortgage stats are:
    Start Oct 2012 £97500
    Now March 2014 £89671.12
    Overpayments made to date £4931.01
    Interest saved (over whole term) £7521.89


    Savings accounts:
    Emergency Account £3604 (£1500 to pay for new roof on house).
    Savings for "big plan" bungalow alterations £405.18
    Other savings accounts £835.00 (includes saving for paint, a new living room carpet & boiler service for house and a few other things).


    We also have a bill account in which we save up for ALL bills and expenses throughout the year. There are very rarely unexpected expenses as so many things are budgeted for.


    I also have a sealed tin which I have names the "new start fund" which I put in any coins or notes I can spare out of the food/fuel budget or anything earned extra from selling etc. I have put some notes in but have no idea of the amount in there.


    I need to work on some short term goals next so I can start working towards some achievable targets.


    Hello to kmcld2 & Muser1! thanks for your comments and VERY much looking forward to getting back into the swing of things!


    Speak very soon, off to sort out two poorly children now.


    IWAB xx
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
  • I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    I have just transferred this months savings over ready for a clean slate for April.


    My savings totals are now:
    Emergency Account £3885/£5000
    Big Plan Savings £490/£2000
    Rainy Day Savings £250/£250 COMPLETE
    Boiler Service Savings £100/£100 COMPLETE
    Paint For When We Move Out £100/£100 COMPLETE
    New carpet for living room £100/£250
    Our wills £10/£200


    Savings so we can try for baby no 3 £22.46/£500


    Mortgage balance £-89671.12. This is the latest balance I have but the internet banking is proving useless as won't show me my statement tonight so can't get the actual balance.


    So here are my April Goals:


    Save £200 towards big plan / emergency account savings.
    Save £10 each to carpet/wills.
    Save £20 into my sealed tin.
    Save £20 into my baby no 3 savings
    Round down the mortgage after the payment goes out by whatever I can afford.


    I will post as and when I make savings updating each time. My last diary kept me focused on the power of 'just a few pounds' and how they add up. These figures seem quite unachievable to me so I am looking forward to tracking my progress!


    IWAB x
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
  • edited 28 March 2014 at 10:17AM
    I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    edited 28 March 2014 at 10:17AM
    Savings ideas/plans for APRIL:


    • Monthly normal savings £100 (budgeted) Transferred to savings
    • Find other savings from Aprils pay/budget (£58 Water Free DD Month, £20 Dentist & Optician Budgets Fully Saved).
    • Draw out paypal money from ebay sales, remember ebay fees & save whats left.
    • See if anything payable from cashback accounts. (£1.37 Requested from TCB)
    • Make a list of vouchers/loyalty card points I have to use.
    • See if I have anything to claim on swagbucks account.
    • Look though money off coupons in purse & use up those in date & for things I NEED.
    • Save any interest earned on any accounts.
    • Write a stock cupboard list & meal plan each week & shop only for that.
    • Update meter readings for gas & electric & see if any credit to claim back. (In credit by lots - emailed & requested £150 back)
    • Find cheaper fuel for monthly fuel tank fill up.
    • Open new ISAs and/or savings accounts for next financial year and transfer funds across.
    • Chase ebay non-payer so I can post item and save whats left. (Sent invoice)
    • Re-list unsold item on ebay x 1. (Re-listed)
    • Try & sell bedspread on facebook selling site. (Put on facebook)
    • Make 3 x things for craft business & try and sell them.
    That's all from me tonight!


    Speak soon
    IWAB x
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
  • I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    Morning all,

    It's sunny :j

    Had a lovely use it up morning already.

    Cut up a sorry for itself pineapple which the children will have for today's snack and my son will have a bit in his nursery lunch box.

    Last 3 cherry tomatoes are going in my sons lunchbox.

    Two onions, the last 6 bendy carrots, a whole punnet of Lidls 46p mushrooms, some leftover passata and three further cartons have been added to a pack of Lidl £1 beef mince and are now happily cooking in the slow cooker to make a delicious "bung it in bolognaise".

    Finally the last half of the morrisons 50p cabbage has been sliced and put in a pan to go with the 4 leftover chipolata sausages & some Yorkshire puds in the freezer. A "kind of" toad in the hole for tea!

    Purse has £8 left until payday Monday, we will need some milk but hoping to eek out everything else.

    We have a day out planned on Saturday (our first this year!) and of course Mother's Day Sunday but these are both already budgeted for.

    We have a postage stamp size garden in our current house. We have filled a long planter with soil and my son is growing lettuce at the moment, they have just come up. Later we shall plant a few more lettuce seeds & 6 leftover onion setts from my mother in law.

    I might see if I can whip up a batch of flapjacks later, I haven't made them in ages and we could do with some sweet treats to help us stay on track until payday.

    IWAB xx
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
  • edited 28 March 2014 at 10:02AM
    I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    edited 28 March 2014 at 10:02AM
    Well the bolognaise was put into a large glass dish layered with lasagne sheets. It is currently in the fridge waiting for the cheese sauce to go on top. That will do 3 family size portions for us. There is a separate portion in a tub in the fridge which will become spaghetti bolognaise.

    Whilst payday is on Monday, my husband should get his payslip today so I will be able to finalise Aprils budget and do all the transfers ready.

    Yesterday I did quickly plant the onions setts that were in my pocket but I need to get my son to plant some more lettuce seeds.

    Today's to do list:
    • Put load of washing on
      Finish lasagne
      Lasagne, frozen veg & garlic bread for tea.
      Draw money out for this weekend
      Meet friend for coffee - my spends.
      Finalise Aprils budget DONE
      Do all money transfers ready DONE
      Quick tidy back garden
      Stock cupboard list
      Meal plan
      Food shopping list

    Must dash now as have to get my son ready for nursery.

    Lovely day out here, very much looking forward to some family time this weekend.

    IWAB xx
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
  • I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    I have just finalised Aprils budget and transferred all of the monthly budget into the correct budget accounts.


    Savings made were:
    £100 monthly budgeted savings
    £58 No Water DD this month
    £20 Dentist/Opticians fully saved
    £12 Child Tax Credits
    £190 Total


    This has been split as follows:
    £100 Big Plan Savings
    £70 Emergency Savings
    £10 Carpet fund
    £10 Wills fund


    I then managed to find the following small savings
    £3.02 Save the change
    £1.24 Leftover from the monthly budget
    £0.08 Round down child tax credits.
    £4.34 Total
    This was transferred to the baby no 3 savings.


    APRIL GOALS UPDATE-
    £170/£200 Big plan/emergency savings
    £20/£20 Carpet/wills fund
    £0/£20 Cash sealed tin
    £4.34/£20 Baby no 3 fund.


    I calculated our net worth today before payday and savings + equity + pension pots + company shares = £91,516.63.
    I would really like to see that figure over £100k by the end of the year!


    Now I must go downstairs and sort out the meal plan!


    IWAB x
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
  • linzlinz Forumite
    1.8K Posts
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    Forumite
    Subscribed! I enjoyed following your last diary IWAB.

    We're growing lots of veg aswell in our small garden this year. I think it's ace that you've got your little man involved aswell :)
  • I_want_a_babyI_want_a_baby Forumite
    579 Posts
    Part of the Furniture Combo Breaker Xmas Saver!
    Forumite
    Thanks Linz!


    At the bungalow we are moving too we have such exciting plans.


    We have dug a 20ft x 80ft veg bed in the field next to the garden. This so far has been planted with:
    1 x 20ft row - half lettuce/half radish
    1 x 20ft row parsnips
    1 x 20ft row beetroot
    2 x 20ft row carrots
    3 x 20ft row onions
    1 x 20ft row half swede/half turnips
    1 x 20ft row peas


    Then in the main garden there are 4 fruit trees (cooking apple/eating apple/plum/pear). We have gone halves with my in laws and added another 5 trees (cooking apple/eating apple/plum/pear & cherry).


    We have also bought & planted 9 rhubarb crowns, 75 strawberry plants and we have an existing 3 x 10ft rows of raspberries!


    It is so exciting planting everything and seeing it all come together!


    My mum in law & I have very green fingers and love jam making etc so we will be in our element with all the produce!


    What are you growing in your garden?


    In our little garden at home we so far have lettuce and a few spare onions. We are hoping to plant some purple carrots and yellow beans next month.


    IWAB xx
    DFW diary - Surprise we are debt free
    Debt balance at 25/08/16 - £4445.24
    Very Ambitious Debt Free Date 24/12/2016
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