sarahevie's single quest to mortgage freedom

beanielou

Hope the sale goes through soon

Moneyfordreams

wow good luck with your plans

sarahevie1

Just popping in with an update for my signature.
Have taken on some debt related to house buying fees.
Dad £1250
Mum £1037.79
Needs paying ASAP

Sent the whole balance of £356370.79 to the solicitor last Friday in order to hopefully complete on the 30th. This includes the stamp duty, outstanding solicitor fees but :eek::eek:

A_Frayed_Knot

Wow, fantastic, but . . . what's the but :eek::eek:

beanielou

Wow, that is some amount!

sarahevie1

A_Frayed_Knot wrote: »

Wow, fantastic, but . . . what's the but :eek::eek:

The money spent on the new house. It is a super scary amount to spend, especially for one not used to money. Exchanged today so definitely moving imminently.

sarahevie1

Been living in my new house just under a week. Didn't move in for a week after completion as didn't have a fridge/freezer.

Not content with being mortgage free once, I am due to complete on the student house tomorrow to be officially/mortgage debt free. Haven't decided what to do with the equity, but first choice is to buy a mortgage free, cheaper BTL. Alternatively I'm looking at buying a children's day nursery, this would be more profitable but would also require a business loan. There's lots of things to consider moving into next year.

November spends

Clubs: £47.90, £35
Food: £225.24
Petrol: £159.80
Travel: £20.30
Cash: £90
School photos: £65
Tax bill: £677.40
Internet/phone: £30
Gas/elec: £79.30
Miscellaneous share of utilities: £149
Car insurance: £279.16
Home insurance: £107.75

In:£1487.64
Out: £1930.85

Year to date
In: £21717.33
Out:£14351.85

sarahevie1

Just a quick update for December, have spent 1481.68 this month and earned 2543.11.

I've earned 24260.44 net this year.

So this year I've spent 15833.53 - I am using this as a target for retirement income. I figure inflation will make it less, but equally I had a mortgage for 8 months of this year, and a lot of child related expenses.

Plans for next year, aim to spend less and earn more. Also need a decent plan for the equity from the btl. Currently have 105,000 in savings from that. Any advice on how to invest that would be very welcome.

Overall thank you to all who have followed me this year and here's to the next. :D

sarahevie1

Target net income: £24260.44 (actual for 2018.)
Target expenditure: £15833.53 (actual for 2018)

Lots has been happening this month. Have decided I'm too risk averse for a day nursery, I went to see a financial advisor and the only way to fund was to secure it against my mortgage free home . So it was a no from me.

Perhaps in the future; I'm only 33 after all, but not right now, I couldn't risk the girls' home.

Highlights this month included going to Doncaster dome with a large group for a child's birthday party. I did huff and puff about the 100 mile round trip and petrol cost but had a really lovely day out.

Also had the most amazing girlie day with two of my old uni friends, I don't see them as often as I'd like (couple of times per year but love them and it's always lovely to spend time together.) Our lives are so different from how we imagined, but essentially *we* are the same people and the paths we have chosen were pretty predictable.

Have also booked a weekend away in Scarborough with friends in February (not sure about the weather for this one) but the kids are looking forward to it.

Spends this month: £1194.34

Utilities/food/petrol: £564.25
Cash: £140.57 (this will be mostly social spending.)
Professional fees: £56.60
Clubs: £184.65:eek:this includes guide/brownie/rainbow subs have also agreed the girls can each do dodgeball and acro each week. Two still have swimming lessons too.
Furniture: £187 all charity shop bargains including a welsh dresser, two seater sofa, two bar stools and a 10 seater table as my old 4 seater looked ridiculous in the large space.
Clothes: £61.27 all for the girls.

Income: £1743.07

Year to date
Target income: 24260.44 - Jan (1743.07)
Expenses: 15833.53 - Jan (1194.34)

sarahevie1

Just popping in to add my monthly targets,

I'm about 4 weeks into buying a 1 bedroom terraced bungalow, I bought it as advertised as freehold, and have found out this week it's leasehold. Due to the fact the rental is good, and there's literally nothing else I can buy; where I am, without needing a mortgage, I'm sticking with it for now but if the solicitor finds problems with the lease, the charges are higher than anticipated I may have to pull out. I'm right at the top of my budget with it as it is, I had 105,000 (the purchase price) but I'm saving up for the 4,000 needed to pay the additional stamp duty and solicitor fees. In good news I don't have any debt.

February
Money in 2924.19
Out 1425.33

March
Money in 2607.86
Out 1266.38

Really love a local radio stations vouchers for days out. Have been to the Alpamere water park at Scarborough, Thackray medical museum, Sea life centre, all really cheap. Had a great weekend away with friends at the coast a few weeks ago and the weather was kind.Also had a couple of nights out locally at an 80s charity disco and a 90s night at a local hall.

Year to date
Earnings: 24260.44 (7275.12)
Spent: (3886.05)