I want to be Debt and Mortgage Free by 35!

lorriedriver1988

Oops, I have become lazy with updating my thread. I am going update more regularly to be more accountable.

I have decided to divide my targets into long term, 2016 targets and montly targets.

Long term targets

* Reduce mortgage to £50,000 or below by December 2018
* Repay the 20% Help to Buy Loan in full in September 2018
* Save £30,000 additional deposit for house by Dec 2019 - in line with when current fixed comes to an end.

2016 Goals (these goals are already work in progress)

* Pay current debt off by December '16- £1020.44/£9113.95 11.2%
* Mortgage overpayment of £750 in 2016 - £74/£750
* Save £2727.24 by Dec '16 towards the Help to Buy- £230/ £2727.24
* Emergency fund to be a £1000 by Dec '16- £165.05/£1000.00
* Car repair fund of £500- ?/£500

Monthly targets:

*Help to Buy Loan monthly savings £230. So far £144.51/ £230.00
* Monthly Mortgage Overpayment £0.79/£75.00
* Debt Overpayment: £0/£400
* Increase car saving by £30- £0/30
* Increase emergency fund by £30- £0/£30
* Purchase a chest of drawers with minimum expenditure
* Purchase a high chair for DS3 with minimum expenditure.
* Apply for 3 jobs by 29th February.

Sorry for the long post.

lorriedriver1988

[QUOTE=lorriedriver1988;70057028

Monthly targets:

*Help to Buy Loan monthly savings £230. So far £144.51/ £230.00
* Monthly Mortgage Overpayment £0.79/£75.00
* Debt Overpayment: £0/£400
* Increase car saving by £30- £0/30
* Increase emergency fund by £30- £0/£30
* Purchase a chest of drawers with minimum expenditure
* Purchase a high chair for DS3 with minimum expenditure.
* Apply for 3 jobs by 29th February.
[/QUOTE]

Update Time

*Help to Buy Loan monthly savings £230. So far £144.51/ £230.00 Now £167.39/£230.00
* Monthly Mortgage Overpayment £0.79/£75.00 Now £1.57/£75.00
* Debt Overpayment: £0/£400 Now £100/£400
* Increase car saving by £30- £0/30 Now £10/£30
* Increase emergency fund by £30- £0/£30Now £8/£30
* Purchase a chest of drawers with minimum expenditure
* Purchase a high chair for DS3 with minimum expenditure.
* Apply for 3 jobs by 29th February. Applied for 2 jobs

lorriedriver1988

Hi everyone :wave:

Time just seems to run away from me. I am struggling to update as often as I would like with my three DS's to look after.

I have continued with MSE activities. The debt is slowly going down. Savings for the H2B are slowly increasing, as is my emergency fund savings and car maintenance.

I am setting monthly targets.

April targets

* Try my hardest to get Help to Buy savings for April to £530= £294.92/£530.00
* Get car loan from £2093.93 to £1600
* Save £50 into mortgage overpayment regular savings.
* Increase emergency savings
* Increase car maintenance fund.

Hope everyone is well

lorriedriver1988

Evening everyone,

DH came home from work with some very potentially exciting news. If it happens it could be life changing for us as a family. I am keeping my fingers and toes crossed.

lorriedriver1988 wrote: »

April targets

* Try my hardest to get Help to Buy savings for April to £530= £294.92/£530.00 NOW £296.73/£530.00
* Get car loan from £2093.93 to £1600 OP'ed by £155.00 will update sig when payment appears on online banking.
* Save £50 into mortgage overpayment regular savings. NOW £5.00/£50.00
* Increase emergency savings +£10.90 NOW £200/£1000
* Increase car maintenance fund +£4.50 NOW £73/£900

MSE things for 04/04/16

* completed all surveys available
* redeemed £5 pp from swagbucks
* sold 2 items on facebay
* NSD
* made OP on loan
* all washing on airer

That's it for today.

Night all.

Steerpike88

Hi Lorrie,
Just spent a lazy hour reading your diary with a cup of tea and the baby kicking me, can't wait till he's out. I just want to say how impressed I am with you using vouchers and points for everything and managing three kids. I really enjoy diaries with lots of figures and numbers, and I really get a feel that you know how to spend your money.

The only tips I have are some pretty frugal veggie recipes, but they're on the Jack Monroe blog, lemme know if you're interested in cooking some as I've tried and tested the best ones Also, have you tried freecycle? I've got tons of baby stuff from there, people have been so generous to us, lending us a bassinet and car seats and loads of clothes, I guess with babies you can try the ask and you shall receive techniques. Oooh, and car boot sales/church sales are soooo cheap!

I was hoping to have a deposit for a house by the time I'm 35 and it's so impressive to me that you want it paid off by then. Good luck and I will be keeping an eye on your diary.

lorriedriver1988

Steerpike88 wrote: »

Hi Lorrie,
Just spent a lazy hour reading your diary with a cup of tea and the baby kicking me, can't wait till he's out. I just want to say how impressed I am with you using vouchers and points for everything and managing three kids. I really enjoy diaries with lots of figures and numbers, and I really get a feel that you know how to spend your money.

The only tips I have are some pretty frugal veggie recipes, but they're on the Jack Monroe blog, lemme know if you're interested in cooking some as I've tried and tested the best ones Also, have you tried freecycle? I've got tons of baby stuff from there, people have been so generous to us, lending us a bassinet and car seats and loads of clothes, I guess with babies you can try the ask and you shall receive techniques. Oooh, and car boot sales/church sales are soooo cheap!

I was hoping to have a deposit for a house by the time I'm 35 and it's so impressive to me that you want it paid off by then. Good luck and I will be keeping an eye on your diary.

Hi Steerpike88 :wave:,

Thankyou for your comments. I think I will try freecycle for more clothes for DS3. That would great if you could give me some veggie recipes from Jack Monroe. I really need to cut down my family's grocery spends by alot to help boost debt/mortgage overpayments. Currently, I am only trying to buy needs not wants. And if I want something I try to buy it using points/cashback/vouchers/item on offer.

Do you have a diary?

I wish you best of luck with baby

lorriedriver1988

MSE things for 05/04/2016

* Received £11.40 from p-base. £11 transferred to H2B savings. 40p transferred to mortgage overpayment savings.
* Completed all surveys available.
* Managed to refrain from buying myself a takeaway coffee in town.
* Sold another item on facebay.
* LSD- 60p on ready made formula for DS3 whilst in town and £1.35 on packing materials for facebay items.
* All washing on airers.

Night all.

lorriedriver1988

Evening everyone,

I hope everybody is well.

I have been thinking long and hard about the reasons why I want to be MF. I want to be DF and MF more than anything to have financial security and choice. With our current income, I always feel I am juggling money. We can afford to pay bills, food and other essentials but struggle to save as much as we'd like. As the children get older they are going to become more expensive. I do believe we would struggle to pay for school trips etc on our current income. Paying off the mortgage asap would allow us to have experiences without worrying about how much it would cost. Being MF might also allow us in the future to up size as the boys grow bigger and need more room.

So with this in mind, I am going to make extra effort to stretch every penny. DH and I will look for the best offers on everything, buy only what we need and I will do my upmost to meet my targets. April's targets are updated below:


Try my hardest to get Help to Buy savings for April to £530. + £21.30
WAS £296.73/£530.00 NOW £318.03/£530.00.
* Get car loan from £2093.93 to £1600 NOW £1938.93
* Save £50 into mortgage overpayment regular savings. 40p added from survey payout NOW £5.40/£50.00



MSE things for 07/04/16

* Received £5 from swagbucks
* Received £3 from my survey
* Redeemed 300 points from pc survey- will go H2B loan savings
* Redeemed £5 from swagbucks
* Completed all surveys
* Put 2 items on facebay, 2 more to list.
* Downloaded 3 free kindle books.
* Washing on airers.
* Weekly shop items bought from all the cheapest shops

That's it for now...

Night all

lorriedriver1988

Evening everyone,

DH was paid today, however he was underpaid :mad: It seems he has not been paid for his holiday. This means our finances will be even tighter then they usually are. I am still hoping I might be able sneak a few pennies to the various funds.

It has been a NSD today. Myself and my 2 oldest DS's went to my mum's house. She lives in a tiny hamlet, so we went for a lovely walk watching the cows, sheep and horse's in the surrounding fields by her house. It was nice to spend time with her, be outside and spend quality time with my boys without the daily distractions getting in the way. On the way home the boys were treated to a happy meal each by nanny.

I have received a small survey payment today. Figures are updated below.

lorriedriver1988 wrote: »

Update time:

Try my hardest to get Help to Buy savings for April to £530. + £3.00
WAS £318.03/£530.00 NOW 321.03
* Save £50 into mortgage overpayment regular savings. + 84p TT from joint account WAS £5.40/£50.00
NOW £6.24/£50.00

MSE Things 08/04/2016

*NSD
*completed all surveys.
* sold another item on facebay
* relisted some items on facebay.
* washing on airers
* received £3 from pc survey.

lorriedriver1988

Evening everyone,

The weather has been miserable here today. Except for DH going to work we haven't been anywhere today due to the weather. Which also means it has been a NSD!

I have also managed to sneak a few more pennies to savings. DH posted my facebay parcel for me

Update as below.

lorriedriver1988 wrote: »

* Try my hardest to get Help to Buy savings for April to +£1.38 WAS £321.03/£530.00 NOW £322.41/£530.00
* Get car loan from £2093.93 to £1600 NOW 1938.93
* Save £50 into mortgage overpayment regular savings. WAS £6.24/£50 NOW: £8.24/£50.00
* Increase emergency savings + £2 £202.00/£1000.00
* Increase car maintenance fund. +£2 £75.00/£900.00

MSE Things for 09/04/2016

* Paid another £20 off loan
* NSD
* completed all surveys
* paid out on 1poll
* listed 2 more items on facebay
* listed 1 item on gumtree
* all washing on airers.
* TT'd the accounts
* did money transfer around accounts

I need to persuade DH to open a lloyds club account to earn 4% on some of our money.

Night all