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sarahevie's single quest to mortgage freedom

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
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  • kaycastlekaycastle Forumite
    196 posts
    Third Anniversary 100 Posts Name Dropper Photogenic
    I've only just come across your diary now and read the first page and the last few pages and just wowww!!! I can't believe you first started this in 2015 - you've done so much. And you're so young :) I'm going to set some time aside to read more in detail later as it must have been an exciting and busy journey.
    Mortgage: Oct 2017:£228k, May 2020: £206k.
    Goal: £121k by 2024. Mortgage free in 10 years.
    Emergency fund goal: £4200
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
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    kaycastle wrote: »
    I've only just come across your diary now and read the first page and the last few pages and just wowww!!! I can't believe you first started this in 2015 - you've done so much. And you're so young :) I'm going to set some time aside to read more in detail later as it must have been an exciting and busy journey.

    I started my first diary in 2010 after the birth of my second child, when I was really skint and spending a lot of time at home breastfeeding and reading MSE.

    When my Oh left me in 2014, after 11 years, when our youngest was barely 1, I had a long hiatus so came back in April 15 with a new diary to mark turning 30.

    There's been no huge revelations or pearls of wisdom; just a life of frugality. There's things I could have done better and I'm looking to put right, I've got barely any pension. Currently estimated at 212 a month from 68 so need to do something about this, I have a plan:D

    I've not been scared to work minimum paid jobs, I've had lodgers when I've had to, I've not gone out if I couldn't afford to, I've made the food budget really stretch, I never buy myself anything. I was conditioned from being a child to not want *things* so it's all helped.

    Everyday I sit in my lovely house and smile that it's mine and that makes me proud especially when all my kids have said on different occasions that rooms in it are 'their happy place' and that's good enough for me.
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • teabodyteabody Forumite
    208 posts
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    I am just here to Congratulate you this far!!!:T Love reading and learning from you. I do need to go back and reread. Absolutely thrilled for you x
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
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    teabody wrote: »
    I am just here to Congratulate you this far!!!:T Love reading and learning from you. I do need to go back and reread. Absolutely thrilled for you x

    Thank you, I don't update much anymore as really it'd be so boring and repetitive. I do the same things week in week out, but it's definitely a lifestyle choice and it works for me.

    I've definitely got better over the years at 'living' more and going out and having more day trips/holidays. You've got to enjoy the journey as it's a long slog.

    I was at a friends funeral yesterday he was 36 (only 2 years older than me) childhood friends with my children's father. Was absolutely heartbreaking. Was held in a really tiny methodist chapel where he worshipped as a boy.

    Had a very long heart to heart with my children's father and the fact that we were the only ones who knew the hymns broke the ice; we used to go to a Methodist church when we were together.
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • beanieloubeanielou Forumite
    72.8K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    So very young :(
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 2 lbs **
    MFW. 9 months to go. B)
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
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    Had a pretty frugal April.

    Spent £1194.77
    Earned £2763.08

    Have managed to meet my target for the bungalow so don't require a credit card/loan. Have sent the signed papers back so now just playing the waiting game.

    Year to date
    Earned £10038.20
    Spent £5084.82

    Expenses increasing going forward as have agreed for the girls to increase their hours of dancing each week. Have also let them start trampolining and gymnastics.

    For me, I'm going to start a pension as mine is woefully inadequate. 4 full years of teacher's pension and a couple of little ones.

    Also will be at zero savings again once the bungalow completes so plan to put some money into ISAs; regular easy access savers. Will be focusing now on FIRE whatever route that might take.
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • debtfreeonedaydebtfreeoneday Forumite
    3.4K posts
    Part of the Furniture 1,000 Posts Name Dropper PPI Party Pooper
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    You are doing so well, life is good! x
    DFW (08/08) £64,346.53 Gone for good (02/19)
    MFW (01/15) £67,234.17
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    Paid the 10% deposit for my new BTL yesterday the solicitors would like us to complete on the 14th of June.

    Had a pretty frugal May £1208.35 spent.

    Target earnings £24260.44. Earned so far £12272.56
    Target expenses £15833.53. Spent so far £6293.17
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    So I've owned my BTL just under a month and the old tenant has given notice, however, I've managed to let it with no void so all is well. It proved so popular I had over 30 enquiries within the first day of advertising. Hoping it remains a good investment, time will tell.

    Also secured a permanent role for September, although 4 weeks down the line and still no contract, which is a little worrying but not too fussed as it'll work out.

    Spending gone out the window this month as went on a 'the sun' newspaper holiday with friends for the weekend to Seaton Carew, a part of the country I've never been before, but we all absolutely loved it. The beach was so clean, and not as commercialised as some resorts. Also booked to go to Spain in August, it was a bargain but had to pay upfront for it.

    Also DD1 won a trophy in her first ever trampolining competition. Really proud of her, as all her friends go to fitness classes at a local trampoline park (one of those kids activity places, more recreational) and she's been wanting to swap her lessons for ages to join them having 'fun.' There's nothing wrong with the trampoline park, a lot of the parties have been there, however, it is not gymnastics routine based like the club she attends. Anyway after 4 weeks of meltdowns and refusing to get into her leotard for class, she said to me in the car tonight she wants to remain at the club:j I am not pushy with her but she is super talented but always wants to quit. She was invited to swim at regional level but refused, she is a brilliant dancer but won't take her grade exams; so at least she is keeping on with her gymnastics and trampolining. I've said she can do the recreational classes with her friends as well, as a compromise, but she's said she just wants to do the competition team with her club which is fair enough.

    My Mum has annoyed me as well as she's told DD1 that she's going to be going to a particular secondary school; as it's 'the only one she'll get into.' My first choice is a church secondary school which she does meet the criteria for; so that's the latest battle. I haven't fully decided where she'll be going, and I haven't ruled out the local secondary as I'm grateful it is 'outstanding' at least according to Ofsted. My issue with it is I went and hated it and there are other options which I may deem more suitable. Whenever I'm grilled on the subject I have been saying we will be viewing all the options and making an informed decision, so for Mum to tell her 'where she's going' was out of order.
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • sarahevie1sarahevie1 Forumite
    577 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    June

    Incomings: £5890.59 (£2376.54 of this was a tax refund.)
    Outgoings: 2238.8

    Earnings: £24260.44 (18163.15)
    Outgoings: £15833.53 (8531.97)
    Home - Cash purchase £350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    BTL: Purchased £105,000 June 2019 - Rented £650
    BTL purchased July 2020 - New £170,000 mortgage - Rented £795
    Teacher pension - DB scheme
    LGPS pension - DB scheme
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