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Taking it slowly, but doing it well. - Page 103

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Taking it slowly, but doing it well.

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
1.1K replies 106K views
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  • redofromstartredofromstart Forumite
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    1,000 Posts Third Anniversary Photogenic Name Dropper
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    *waving pompoms*
  • KarmacatKarmacat Forumite
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    Part of the Furniture 10,000 Posts Name Dropper
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    *waving pompoms of complementary colours*
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    Not counting this! 2020
    Garden fencing completed, woohoo 2021
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Thank you both.
    Pom poms muchly appreciated.

    Supply money from last week pending, so shrapnel (£3.40) set up to be added to the 2020 mop pot tomorrow when it lands and the rest into the house fund.

    Keep plodding.

    Hopefully going to finish the Christmas shopping today (although I've not considered my parents yet...) arghhhh!


    Oooh and I'm going to pay the change pot into the bank today - not done very well this year, but this could be for 1 of two reasons -
    Using far less cash
    I've not found all the change hiding spots this year due to the continually ongoing work on the house. (Although I now have a fabulously coloured living room - we are getting there..)
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    So:
    Change came to £36.05 not bad.

    Found a potential bridesmaid dress for next summer - full price £40. The label said 30% off -Went through the till at £20. Wooooohoooooo
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    The end of another week.
    The mop pot ready for Jan 1st stands at £120.97. Really pleased with this. (Would like it at £289 by 31st December)

    Everyday spending pots are holding up quite well at the moment.

    Nsd yesterday.

    Designated pots are feeling quite low - £1200 in the 'house' pot but I need:
    £300 to finish paying the decorator
    £400 for the carpet
    £500 for the roof repair.

    I've rounded up the carpet and roof figures and the decorator is an estimate so I'm hoping there will be a little left in the pot. Then I need to start some hard saving again.

    Once the living room and dining room are done, Our bedroom needs:
    1 wall papering & the wood varnishing
    New carpet.
    Hopefully this will be £500 max and can be done in February (when I've had December & January's wages)

    In 2019 we will have spent a figure in excess of my annual, main job, basic salary on the house. That is crazy! It will have added value to the house though. If you remember 18months or so ago I said I wanted to be mortgage neutral by the end of July 2020. This isn't now going to happen.

    However, one of the reasons I wanted this was so that we could have a £100k deposit for our next house.
    I think we will make that. Houses on our street are selling at £100k in 'do it up' condition and £140k for 'perfect' condition. Ours will need a new kitchen, but everything else is done. So, if I say we could put our house up for sale for £125k (and achieve this) the calculation would be as follows:

    House sale price: £125,000
    Outstanding mortgage (now!) £23,181

    Equity: £101,819

    We would need approx £10k in moving fees & charges. I have £8.5k is 'easy access savings' plus the £1819 above. This Gives us the £10k fees.

    Phew! All is well (unless house prices crash!)

    I do have a plan for 2020, but it's not ready to be shared yet. Need to get all of the 2019 costs paid and know where I stand.

    Exciting times.

    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • KarmacatKarmacat Forumite
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    That really does sound exciting - good for you for thinking it all through like that, you get such a lot more bang for your buck that way :)
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    Not counting this! 2020
    Garden fencing completed, woohoo 2021
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Thanks Karma.

    I'm getting 'middle of the month' bored! So, I took a careful look at the tax free child care account.
    Basically there is a HUGE buffer in there, even if we have to pay out for holiday club days if the Childminder takes leave when we need childcare. I didn't go too mad, but I withdrew £74 to make the account a nice, round number.
    I then had a bit of a dilemma as to where to assign it. I've opted for the mop pot (although the Christmas pot could do with some boosting - £60 a month is not enough for everything I'd like to do, so will need upping in the new year. )

    I could always rearrange later if needed.

    Family day out today under £20 spent on entrance fees & food. So really pleased with that.

    As a result of today's Tilly tidies and the childcare boost the mop pot now stands at: £196.42/£289

    Also:
    1.5 days overtime being submitted for December (but no travel expenses)
    And I've just been booked for 1 day in January (with decent travel expenses) so next year is looking like it will start ok.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Evening all, very boring week here.

    Not much to report.

    Mop pot saving £198.92/£289 just £90.08 to go to hit my target. I think it will be ok.

    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Have ynab'd today's spending (Christmas & birthday bits, coffee out with the hubby & boy, new shoes for small), then Tilly tidies and skimmed some pots -

    Mop pot stands at £215.08/£289 (should I really say £215.08/£2318 which is 10% of the outstanding balance when it resets on Jan 1st?)
    Ooooh actually - that's nearly 1%of the outstanding balance isn't it? That's exciting....

    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    1,000 Posts Second Anniversary
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    Happy Christmas everyone.
    I've been reading books rather than diaries over Christmas, but I needed to do a lot of financial stuff this morning. The pots for this month are looking horrific, but we've only got to limp through until the 1st.

    The mop pot currently stands at £256.07/£289. But my pay slip has been generated, so I know I will make up the difference come Monday when it's actually paid. I'm even hoping to over shoot the target a bit to get ahead of my 2020 plans.
    Going to do a 'goals' post in a minute.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
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