Onwards to The Forever Home

Mrs_E_3

New diary - new username - older member. I've changed my username as I think I became a little public for my liking.

I'm not a stranger to these forums, nor money saving, but seem to have taken my eye off the ball lately and been distracted with shiny things. Must stop! Time to refocus and keep the budgets in order which should in turn release some cash to send to the mortgage pot.

The future aim is to pay off the current home (£86k) and purchase the forever home. There is no current target for an end date, but ideally in the next eight years when our youngest is at school leaving (ish) age. This would knock around 10 years off the natural term, leaving plenty of time left to pay off another mortgage in the forever home.

I work for myself so my income is up and down each month. Hubby is in a secure job but not hugely high paid. We are about to remortgage at the end of our fix which will lower the monthly payments a little.

Andrewboom

Have you looked into an offset mortgage.

I have a steady job on average pay, while my better half can earn better money than me but works on temp contracts, so we don't really know for sure how much money we will have each month.

The offset mortgage allows us to pay the priciple each month, and then as much or little into the offset pot as we can afford.

edinburgher

I am confused Mrs E - when did we have kids and reduce our mortgage? :rotfl:

Mrs_E_3

Andrewboom wrote: »

Have you looked into an offset mortgage.

I have a steady job on average pay, while my better half can earn better money than me but works on temp contracts, so we don't really know for sure how much money we will have each month.

The offset mortgage allows us to pay the priciple each month, and then as much or little into the offset pot as we can afford.

I haven't looked into an offset mortgage to be honest. Hubby isn't as good with money as I am and can distract me easily on occasion with shiny things. I wonder if that would make it worse having an offset?

edinburgher wrote: »

I am confused Mrs E - when did we have kids and reduce our mortgage? :rotfl:

I fear without kids, I would be going on holiday all the time. I think it's the kids that keep me grounded and help me save sometimes :rotfl:

edinburgher

Sorry to cause confusion, my good lady wife is known as Mrs E

Mrs_E_3

edinburgher wrote: »

Sorry to cause confusion, my good lady wife is known as Mrs E

Oh I see :rotfl::rotfl:

JimLad

Welcome back! You are in a very similar situation to me and the OH (minus the kids). We have about 98k left on our current house and once we have that paid off we want to move to our forever house. At that point Im hoping we can remortage this one as a buy to let and cover the payments with the rent so that eventually we will have 2 houses mortgage free.

Kids in 4/5 years might delay our plans though!

Mrs_E_3

I *almost* went to the shop this evening to buy something to go with the chicken I got out of the freezer this morning. The trouble is I knew if I had gone to the shop I would have bought wine, chocolate etc etc, so I made a concoction of roasted veg, chicken with ginger, garlic and chilli and couscous. It was very tasty despite the odd concoction.

gallygirl

Mrs_E wrote: »

The trouble is I knew if I had gone to the shop I would have bought wine, chocolate etc etc, so I made a concoction of roasted veg, chicken with ginger, garlic and chilli and couscous. It was very tasty despite the odd concoction.

Wasn't wine though was it? Or chocolate.

Sorry, I'm not helping. Well done on resisting temptation :T.

Knowing you can be distracted by shiny things helps you form the best strategy. 'Pay yourself first' each month - make your overpayments when you're paid, freeze the credit cards then you'll have no way to buy the shiny stuff .

Mrs_E_3

£50 L!dl shop done this weekend. I am a very recent convert to shopping at L!dl but it takes half the time and is saving us loads at the moment which is a great thing.

I've started the decorating, and attempting to have a big declutter before the big C word day comes around. We have so much "stuff" in this house, I'm sure we don't need it all.

Time for my sunday roast

Mrs_E_3

Attempting to reclaim my home a bin bag / fb sale / charity bag at a time is going very slowly. I sorted through A LOT of my daughter's art and craft materials today and half filled the recycling bin, but it doesn't look like I've been in the room at all except it looks a little neater. Onwards.....

Just popped some potatoes in the slow cooker to go with tonights curry I am going to throw together. I remembered I didn't have a lot of rice left so curry and jacket potato it is and saves me spending money at the shop.

Also attempting some lentil fritters for lunch as hubby took all the left over meat to work from yesterdays roast so he didn't leave any to share - naughty hubby.