Hope is not an Effective Financial Strategy

edited 3 March 2020 at 8:18PM in Mortgage-Free Wannabe
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  • Watty1Watty1 Forumite
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    Nice to see you here. I'm gradually catching up with those  I once knew then will find new diaries too  
    Made it to mortgage free but what a muddle that became

    In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!
  • shangaijimmyshangaijimmy Forumite
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    Your bee experiences tell me that we have neither the space, nor responsibility levels to have bees! We would be a disaster...far better off sticking to dogs!

    Our purchases round up pot for the week totaled £2.96, so that has winged its way to the mortgage this morning. Nearly 1 days worth of interest accounted for. I like that way of looking at it.

    Really hoping that September and October can be less spendy months to get that feeling of control back ahead of Christmas!


    MFW: Was: £136,000.......Now: £66,357.66......
    Mortgage Neutral Deficit: £49,928.91... Mortgage Neutral Savings: £16,428.75
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £599.38 of £705
  • Cheery_DaffCheery_Daff Forumite
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    We decided against bees too after I went on a one hour beekeeping course  and spent the whole time willing myself not to run away flapping my arms and screaming 😂😂 I didn't, of course 😁 We have the space, but learned that it would be far too cold and windy up here in the winter, and nobody else would put a hive here as it would be too much hassle, so not something fir us either, certainly not for the next few years.

    Excellent tidying there!
    Mortgage end date at start: Feb 2043
    Mortgage end date now: Feb 2033
  • edited 6 September at 10:59AM
    shangaijimmyshangaijimmy Forumite
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    edited 6 September at 10:59AM
    Hindsight is not a good thing.

    Hindsight is a slap across the chops that highlights my (many) mistakes!
    MFW: Was: £136,000.......Now: £66,357.66......
    Mortgage Neutral Deficit: £49,928.91... Mortgage Neutral Savings: £16,428.75
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £599.38 of £705
  • Cheery_DaffCheery_Daff Forumite
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    Well, it's tough now. Trust that you made the best decision with the information you had at the time, and deal with the situation as it is, rather than how it was, or how you wish it would be.

    *wags fingers in bossy but kind fashion* 😁
    Mortgage end date at start: Feb 2043
    Mortgage end date now: Feb 2033
  • KarmacatKarmacat Forumite
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    Sympathies, Jimmy!  You have to have gas and elec coming in, and a new contract is such an unknown, grrr.  I'm going to be switching myself this month. Trouble is, the forecasts don't really apply to me - single person who's extremely frugal - they always overestimate savings.  All we can do is our best, and then live our lives :) 
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    Not counting this! 2020
    Garden fencing completed, woohoo 2021.......... Bunny hugger
    October 2021: aiming for £5,000 new money for premium bonds or a car.
  • greentgreent Forumite
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    I feel the pain on a double whammy - switched last month so had old pymt come out and new supplier took 1st mth (£180 ish) up front too - ouch!!
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2021 £426.84/ £500 Decluttering 2021: 1100/1250
  • Suffolk_lassSuffolk_lass Forumite
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    Re electric supplier - We were moved last year (Dec old one went bust, Feb it was finally moved to Scottish Power) - when I did the comparisons I elected to stay with them on a new tariff. Ours is electric only. A smallish 3 bedroom cottage, almost £190 a month even with economy 7. On the other hand, we use very little oil for heating as our (electric) range (on from October to May) heats most of the house so we just turn it on once a month to stop the CH pump seizing (and it does hot water).

    Save £12k in 2021 - #26 aiming for £7,500 - £7,393.37 98.58% after September
    OS Grocery Challenge 2021 target £1,974.32/£3k 65.81% annual after Sep (not incl £500 contingency)
    My Debt Free Diary Get a grip Woman
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