Four and a half years until the money stops!

Floxxie

Ok so a month on from my last post and just making a note for myself so I can see where I am, and where I am going to.

I updated my position for the MFiT group and as at 25 April, I owe £83,369.

I spent the month noting down how many surveys I did. So I qualified for 78/139 surveys and took out £86 from survey sites.

I made over £300 from eBay.

I earnt £225 from mystery shopping.

I only put £100 towards the mortgage debt :mad:
May Challenge
So this month, I am aiming to:
- put every penny I earn from the above towards the mortgage debt and 'find' a £1000 to save in TSB.
- reduce food costs by meal planning and using up the stuff in the cupboards
- put everything left onto eBay/Amazon and then send to charity anything not sold
- set up a blog
- explore other earning from home ideas

Floxxie

Another month, another update!

So I managed to fail on most of my short to do list. I'm keeping the list and changing it to June's to do list :rotfl:

As of today the outstanding mortgage debt is £82537.81

This month extra funds will be put into the TSB account.

Have managed to promise the children a holiday to America next year. Haven't worked out how much it will cost or how to afford it,but will figure that out on the way. Oh and am starting a Masters degree in October - need to find funding but very limited so think it will be a CDL :eek::eek:

Floxxie

Well, I seem to have been off having a life and completely forgot that I was on a challenge :rotfl:

Update: I now have two buy to lets, no job and live in a rented house in the countryside. Children are growing up quick. The weather hasn't improved any. The house in England 'sold' but then turned out I had a buyer who didn't want to buy afterall. I have just finished a MSc.

Tax credits finish in June 2019 when my eldest finished A-levels. I won't be eligible for UC. This is a scary position to be in. Plan is to sell house in England (apparently latest tenants want to buy it but I am not convinced that will happen as they can't even get their rent paid on time!) Lovely agent gave them a contract for two years so can't do anything with it until September 2019.

Original plan to use house proceeds to pay off house in NI. Now I rent out NI house and don't want to live in it again. Need to consider whether I want to buy another house to live in...that would be a plan for post-sale of house in England.

So I shall start by looking at the state of my sorry finances and will be back to report

Floxxie

Assets:
House 1 135,000
House 2 (BTL) 220,000
Pension 1 (DB)125,000
Pension 2 (PP) 9349
Pension 3 (DC) 24356
Cash 1,000
S&S ISA 0
Zopa 200
Total 513,905

Debts:
Mortgage 1 81,295 (int. only)
Mortgage 2 143,000 (int. only)
CDL 6,100
Family 5,000
Total 235,395

Floxxie

So I have a bit of work to do. My plan is:

1) Review outgoings. Meal plan.

2) Reduce the amount owing on house 1 by paying £500 into a S&S ISA and £500 off mortgage on alternate months. Have paid £500 into ISA today.

3) Let Chip carry on saving for me.

4) Direct any online earnings to the Career Development Loan.

bexster1975

Good luck. I very much enjoy using the Chip app too. Hope your eldest had an attitude transplant re:money


Bexster

Floxxie

Thanks Bexter.

Eldest was still struggling with attitude about money until last month, when he got a job. Suddenly he realises how long it takes to earn £100: may this change of thought continue for the rest of his life :j:j