Getting rid of a London-sized Mortgage

vetstudent

Following, I read the start of this before and lost you for a while. Congrats on the engagement, we are just about to buy a house, been engaged 2 years at new year and could be a lot longer as we want to OP this mortgage once we get it!

michelle09

I sympathise - some days I am out at 5:45am and not back home until 8pm if I have both jobs. I try and use days off / not so busy evenings to cook up meals that can be portioned and frozen in tupperware containers to be grabbed on your way out to work. I also keep a couple of tins of soup, some ryvita and a bag of fruit / nuts in my locker at work so I have an option there if I forget. (Can you tell that I work somewhere with no food options for me nearby!)

Hope the busy period calms down though...

Tropically

Busy period survived! I got to my major deadline. And £150 of mystery dining reimbursement came back so I am all set to survive until payday.

That sistema pot is going on the christmas wish list! Those filled pastas are a great idea, they make some nice ones where I can see a vegetable - my fear with some of the pasta salads at places like Tesco is that they don't have any veg.

I normally take in leftovers, or make grain salads or pasta salads. One of the troubles with the grain salads is that I can't quite get them right and when you are really busy at work, a sad lunch can ruin your day.

Scrimps, you batch cook lunches and then take them to work from frozen? I like that idea, I hadn't thought of it. I am making freezer burritos as we speak. With dried blacks beans and everything, very MSE.

All wedding things are going well, we are coming in to budget and family drama is all resolved (for now). My future-step-father-in-law and future-MIL don't want to come because it is in Dorset. They think no one will want to go there, and no one will be able to have fun on a Saturday because they have to drive the next day. I said later in the conversation, "If someone is invited but doesn't want to come, they don't have to! No one is making them and I would prefer that they stay home than not have a good time." Ah MIL! I am really pleased with our venue because we found a really affordable caterer and can buy all our own booze, plus there are some rooms at the venue so some key people can stay.

In terms of mortgage free, I have been sitting at £19 for weeks on a £20 min payout survey site. Plus I have £100 of quidco cash back (the one benefit to wedding purchases) that won't turn to cash out! I snagged an £80 mystery dine. Our lodger is still here, asking for the heating to be turned on.... I feel a bit like I am waiting for him to move out. Like things are on hold, e.g. I think that when he goes I will have a big clear out.

Lolu

Hi Tropically just spent most of the morning reading the entire thread! I’m not new to MSE but am new to forums (1st ever post) you have done amazingly with your MFW journey. Just thought I’d share a few money saving ideas for your work issue and wedding. If I stay late at work I ensure I have a stash of instant noodles in my drawer. 3 mins/ hit water /done. Works out about 25p per serving ( pack of 4 99p) cheap and quick and guilt free on the budget and doesn’t need refrigeration! To save money with wedding purchases we used a quidco/ Amex combo to maximise on savings and rewards (now reaping reward with £300 return flights to the Caribbean). Also for any indulgent purchases from stores like Confetti they had a 40% of one item sign up incentive. With multiple email addresses this was very rewarding. Got our Vera Wang cake cutting set for £15 for example ! Also homeware shops are great for lanterns. We got some for £7 and personalised them for a £1. They were stunning!

I’m a MFW also and your passion regarding paying it off is reminiscent. I was hoping to have mine paid off by next year but just had a cash wedding, so has delayed it slightly.

I would also say at your earliest opportunity move your mortgage to a bank that offers online viewing options. I’m with NBS and since moving from NWST have been inspired to reduce the balance to get it under the next 1000. Your dedication WILL pay off, so keep at it! Don’t be so hard on yourself re entertaining per se, just find cheaper things to do ( stay away from the pub! ��) because from experience saving and scrimping too hard with no release / entertainment takes it toll on your happiness just need a balance.

newbiesaver55

Really enjoying your thread-I've just read all of it this evening! It's very entertaining. You're a good writer!

Maybe you could consider giving your lodger a discount if there's no heating..? Just an idea.

Weddings are so expensive aren't they!

So - how on earth do you get to do the mystery dinings? I need to know!!

Tropically

So It is the 5th of the month, and I opened up my bank account and again it was empty!!

I need a SOA. Just for me, not household income. And based on the last three months. I have gone through my debit card transactions and pulled everything out. Cash is entertainment.

Let's play spot the problem.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 2289
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 130
Total monthly income.................... 2419

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 1000
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 27
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 7.99
Groceries etc. ......................... 115
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 166
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 25
Pet insurance/vet bills................. 50
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 193
Holiday................................. 446
Emergency fund.......................... 0
Regular Saver........................... 300
Naughty Food (Takeaways etc)............ 73
Gym..................................... 19
Charity................................. 40
Total monthly expenses.................. 2461.99


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,419
Expenses (including HP & secured debts). 2,461.99
Available for debt repayments........... -42.99
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -42.99

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

chelseablue

Is the SOA just for your portion of the bills? As I cant see your partners income on there?

Tropically

Yes, this is how I spend my money. We both transfer £1000 to the house account, which pays all joint bills and then some. Our mortgage is £1300 and so there is £700 for bills and safety net. I pay the Netflix. I also didn't bother to put my savings in there and we still carry no debt but the mortgage.

So that's just my current account alone! I can't blame anybody else. The £130 of bonus income is reimbursement for mystery dines. It covers all of the naughty food (which was mostly MDs anyway) and would take monthly entertainment down to £130-ish.

It's the sneaky £400/month holiday spendy spends I've been doing. The 'Holiday' fund does count the out of town weddings that I have had so many of, plus a rather expensive 30th birthday weekend where we rented a luxury house (with a heated swimming pool!) Even split among a large group it was quite a lot. It also includes a holiday to Rome in January and a holiday to Iceland next summer.

It doesn't include any spending money while we are in Rome, and it doesn't include any hotels or spending money in Iceland. So, while I've spent a lot, I still have committed to a lot. I can't exactly eat nothing while on holiday.

With that in mind, I am going to try and find some income boosts for those holidays. I have cashed out £20 on a survey website, and have some quidco money waiting for me. I also have a bunch of Amazon gift vouchers AND also a Christmas savings account (not listed in the SOA), so if I use the vouchers, I will transfer from the Christmas savings account to Holiday savings account.

I will try and find some income boosts elsewhere. Anyone need some presents wrapped? I am pretty good at it!!

Tropically

Bad news friends. My partner got the word that his company is out of money. He has been there for less than a year and is unlikely to get any redundancy or anything. Luckily I don't think they are the kind to go bankrupt without paying wages, but who knows.

We can survive on my salary easily enough. Plus, we've got £15,000 in savings, and I have a secret £18,000 in run-away money if it came to that.

chelseablue

Oh no! So sorry to hear that.

What does he do? Would it be easy for him to get another job?