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sarahevie's single quest to mortgage freedom

edited 30 November -1 at 12:00AM in Mortgage-Free Wannabe
725 replies 97.6K views
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  • sarahevie1sarahevie1 Forumite
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    I'm being super organised this summer and I've already purchased all the school uniform/shoes x3 for the kids. I did a list and handed down where I could but it still came to almost £300. Not so bad for three and I never need to buy additional during the year. My best saving this year was on the shoes, as I only buy Clarks as they suit the kids and last, managed to get three pairs for £89 by going to the Clarks outlet locally.

    My new home has a converted garage (which the previous owner used as a nursery/child minding business from home) since July I've had a lodger in it so that's helped with the income. Expenses have increased and had to spend £72.95 on a bed frame already had a new mattress, sofa, Tv/stand etc. My council tax is almost £200 pcm now I'm not getting the 25% discount, so that's huge too. It was dead space though, as we never used it and it is a large space, so good to be of some use.

    Trying to rein in my spending but making headway on some personal goals. Private pension now £6107. I've opened a regular saver this month and put the max £250 in it. Have also opened a LISA and put in £2000. Really going to try and meet the £4000 per year so I get the £1000 government top up.

    Personally things are pretty smooth at the moment, have spent a few good days out with old friends in parks. I've been bowling/soft play with some of the new mums from the girls new school. I'm active on the PTA.

    The next challenge is secondary school for DD1, I have to apply by the 31st of October. I'd like to apply for a church school, although location isn't particularly local; it suits my ethos. However, DD1 is adamant she wants to go to the local comp. Fortunate that it is a good school, but really didn't want her to go there. Whereas in the past I would have vetoed she has done a huge move last summer and I'm not sure whether it's for the best to rock the boat. All her friends are going to the local comp.

    Incomings this month: £3744.21
    Out: £1931.60

    Earnings £24260.44 (21,907.36)
    Outgoings: £15833.53 (10463.57)
    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
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    Completed 3 days in my new job. I'm working as a PPA cover teacher 2 days a week and running interventions, some one to one work, general TAing when I'm not teaching. All at the same school. Really enjoying my job, but obviously it is a pay cut from full time teaching. On the plus, if I can keep the hours reasonable I can still do my research job and I now have rent coming in and a lodger.

    Summer was lovely, had some amazing days out at some favourite places, White Rose, cinema, Harrogate Park and also discovered some new places such as Rowntree Park, Brimham rocks adventure farm. Had a great holiday in Blanes, Spain, just a cheap Ryanair job but was really good and topped up the memory bank.

    Did ok in August.

    In £3138.62
    Out £1290.35

    Year to date
    Earnings (24260.44) £25045.98
    Spends (15833.33) £11753.92
    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
  • edited 5 October 2019 at 2:14PM
    sarahevie1sarahevie1 Forumite
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    edited 5 October 2019 at 2:14PM
    Now 5 weeks into the new job, tax absolute nightmare. On BR for all jobs again, so not getting any tax relief. When it eventually arrives will be nice. Last year I got over £2500, but obviously paid it all year when I shouldn't have been, and the same is happening again.

    Maxed out my LISA
    Now also in a LGPS for my new role so that seems quite good already. In a years time I'll be entitled to a £75,000 death in service payment, obviously hoping not to need it, but as someone who has never had life insurance it's quite nice. On top of this the kids will receive just shy of £1000 each.

    Tenant still good and trying to go out a bit more. Went to Wales for a friends wedding in September, went bowling with new colleagues and to a friends house one evening. Not to mention my PTA shenanigans of meetings and school disco x3.

    Also found out I'm going to be an auntie in to a baby girl, so my Mum and Dad will have another granddaughter. Bittersweet as sister won't talk to mother but hey ho, the main blow up was when she asked Mum to have nothing to do with her sister if they were to have a relationship and Mum said no. Sister is in sporadic contact twice yearly at best, my mum lives 2 miles from her sister and sees her 3 times a week. It was a ridiculous ask and no one could understand it.

    Really feel for mum, especially when she is clearly upset, have been having a make daily visits again. It's like when I went to uni and had to stay within 50 miles incase I was needed. Sister upped and moved 300 miles away as an 'exclusion zone' her words; still not clear why. Sister is queen of the silent treatment; but must feel pleased I'm the only person in the family she sees/speaks to although she usually comes round with quite a few boasts with a sprinkling of belittling comments. My eldest has been calling me 'UN' managing to stay on side with all factions, but unfortunately not able to call a truce.

    Car got through mot and paid annual ins for btl. £1470 overall spends this month which I'm pleased with.

    Feeling very stressed about secondary school for DD1, still don't want her at my old school, she is adamant. They do very good PR, if they mention the 2 that went to Oxbridge last year again felt like screaming. They've always got two to Oxbridge a year, they did in my day too. My best friends brother was one of them; my sister's best friend was another. Its the fact only 7 children got 7-9 grades in maths, English and science out of a cohort of 300. This is very poor for the catchment.

    Will not entertain the church school, but is considering the other local comp.

    Spends this year £1322 (15833.33)
    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
  • CathTCathT Forumite
    6.9K posts
    Tenth Anniversary 1,000 Posts Name Dropper
    ✭✭✭✭
    My dd is due to start secondary school next year too. She wants to go to the local comprehensive which has thankfully improved massively in the last few years. It's good timing for us as I wouldn't have entertained the thought of her going there previously which is why I was so obsessed with moving house. Such a big decision isn't it.
    November 2020 - part 1 - £58,154 part 2 - £38,697
    Total - £96,851 84 months to go!
  • sarahevie1sarahevie1 Forumite
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    End of a wonderful half term.

    Halloween party with friends, Castle Howard day out, never been before and it was free as a friend won the tickets but didn't get chance to use. Fare with kids, and kids on football camp with the local Championship side which they loved.

    Spends still frugal.

    Year to date
    Earnings 32147.16 (24260.44)
    Spends 14127.70 (15833.33)

    The excess has gone into a mix of pension savings, £6K on flat purchase costs, £5K into an isa and £3K into easy access savings. Finally after years of struggle feel much closer to comfortable, although still living frugally. only spent £1051 this month.
    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
  • Important update! We have recently reviewed and updated our Forum Rules and FAQs. Please take the time to familiarise yourself with the latest version.
  • sarahevie1sarahevie1 Forumite
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    Hideous levels of spending in November, knew it was bad but urrrgh when you add it all up.

    £2535.38 - eeeek! I my defence £300 was all Christmas presents, £300 car insurance, £113 on home insurance, £600 childcare for the term.

    The £1200 was normal bills, food, spends. Now I'm earning more though I am spending more.

    I joined a gym on the 10th of November so today is day 28, I've been everyday but not lost any weight. Feeling much fitter and trying to make it a part of my routine.

    Earnings. £3830.87.

    Private pension now up to £11,000. LISA £5017. Instant access savings £3000.

    Earnings to date £35977.53 (24260.44)
    Spent £16663.08 (15833.83)

    Only November and spent £800 more than all of last year, on the plus I've earnt £10,000 more though. This is a combination of the lodger, increased child support for the girls, flat renting well.
    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
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    Had a much more frugal December £1122.18 so spent £17785.85 in 2019. This compares to £15883.38 in 2018.

    What this has shown me is that my 'day job' pays me enough to live on. I don't actually need the 'lodger', 'btl', 'additional research job', 'occasional supermarket work', 'occasional tutoring.'

    I'm going through a bit of an epiphany at the moment about what I want/need going forward. Despite not really liking challenges, as I do my best, and don't like to put myself through any further pressure, my day job plus parenting three independent girlies is enough!

    I've decided that I am going to try and make monthly progress of these 20 themed goals in 2020.

    1) Donate 20 items per month to charity. Donated three huge bin bags of outgrown girls clothes to Yorkshire air ambulance today.
    2) Read 20 books.
    3) Save £220 per month into instant access accounts.
    4) Go to church 20 times. Really miss my old church where we used to live. Realised I've only been 6 times this year so really want to make this a priority.
    5) Volunteer 20 times in the community.I'm on the PTA at the girls' school so this shouldn't be too hard, but need to keep it up.
    6) Complete 20 hours of tutoring.
    7) Visit 20 places. This might be relatively locally to a new town/place. Might be going to see my old friends. Even going to see relatives who live slightly further a field.
    8) 20 days overtime. Probably not in my day job, but possibly either at the supermarket/tutoring/research.
    9) Go to the gym at least 20 times a month. I've just signed up for a year. So need to make it worth the cash. This is the first time I've spent so much on me.
    10) Treat myself to 20 new items of clothes. Looking at my wardrobe everything was purchased at least 2015 or before except coats/shoes.

    2018 - annual spend £15883.83
    2019 - annual spent £17785.85
    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
  • OctobergirlOctobergirl Forumite
    331 posts
    Seventh Anniversary 100 Posts Combo Breaker
    ✭✭
    Loving your diary sarahevie1, we’re from the same neck of the woods reading about your days out, I’ve also got similar aged children and job, however you put me to shame with the juggling of properties/tenants. I shall be following for motivation.......
    2020 Targets:
    £1400 /£7000k debt December 2027
    Jan 2019 13.9.5
    Jan 2020 12.06 (-17.5)
  • MoneyfordreamsMoneyfordreams Forumite
    2K posts
    Fifth Anniversary 1,000 Posts
    ✭✭✭✭
    Your hard work has paid off :T:T:T:T Well done ( but keep up the time for you )
    Mortgage restart June 2018 £119950
    Re mortgage August 19 £110470, HSBC 0, Hfx £0, NW £0 M&S £0, MBNA £8900
    … Mortgage £103000
    plus car £5000
  • sarahevie1sarahevie1 Forumite
    579 posts
    Fifth Anniversary 500 Posts Combo Breaker Mortgage-free Glee!
    ✭✭
    That's January finished. Finding the slog of the kids clubs financially draining at the moment.

    I've spent £1227 this month and £430 of it has been kids clubs, it is such a large proportion of the household budget. I've always felt the girls should do the activities but with 11 dance classes a week, gymnastics x3, swimming x2, plus uniform groups it's getting to be a lot. There's been two residentials with brownies costing £140, for one night (full day sat/home 3pm sun.)

    Not sure what the answer with it is really, as my eldest only does 1 dance class and gymnastics (she's 11) so I wonder if naturally the other two will cut down as she has. Won't be doing anything until end of Feb as the girls are all doing their grade dance exams another £134 (not paid it yet.)

    I'm part of a University study at work so that's taking mental energy too, there's no direct benefit for me, as it's not my research but it is good to be a part of new thinking and it's not too onerous. I'm a participant rather than a researcher, but it has got me thinking I'd like to go back to that role. I worked for a university as a junior researcher for 5 years and was doing a phd when I had my first two children, I never completed and it's something I'd love to do.

    Gym has been going well been 23 times in January need to keep it up as not lost any weight.

    Spends:
    2018 - £15883.83
    2019 - £17785.75
    2020 -£1227
    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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