Aldi Beans

Merchandiser2367
Merchandiser2367 Posts: 211 Forumite
First Anniversary Name Dropper Combo Breaker First Post
edited 19 October 2017 at 11:41AM in Mortgage-free wannabe
Funny title for a thread!

But, it underlines how much we have changed/cut back etc - throwing it all at the mortgage.

I always said we would always have Heinz beans, i think they have been the last thing to go to save cash.....and Aldi beans aren't actually that bad!

Some of the Other MANY things we have done


-Got rid of sky - bought a freesat box of gumtree for £20 - Save £20 a month!
-Shop at Aldi for 90% of our shop compared to old Tesco
- Stopped buying kitchen roll (save about £8 a month!)
- Take cash out for a week and ONLY spend that much.....debit cards are bad for overspending.....having the cash in your hand, you realise how much you've got left for that week.
-Always use Martin's Money Mantra - if you don't need it, don't buy it.....amazing how much this saves

We are hoping to pay off our 21 year, £146,500 mortgage in just under 5 years.

We know it's all about being strict but we have this massive light at the end of the tunnel about doing things, going on holidays etc that we could never dream of AND being financially secure knowing our house is ours and we have absolutely no debts at all.

Just thought i'd share our story presently, been fascinating reading all of yours as well :)
Mortgage When Started Over Pay 01/11/2017- £146,500
Current Total - 10/02/2022 - £6,500 (With Offset
£10k Savings)
5 year fix
MFW hopefully by March 2022
01/11/17 - £10k / £10k Emergency Savings :beer:
«13456712

Comments

  • beanielou
    beanielou Posts: 90,087 Ambassador
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    Happy shiny new diary :)
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  • newgirly
    newgirly Posts: 8,919 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Best of luck with the new diary, never mind Aldi beans , before long you will be buying out of date beans from approved foods to save even more to put towards the mortgage :rotfl: It's all very addictive , welcome :)
    2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.12
  • Welcome aboard. It's when you get to have a ton of Brussel sprouts in the cupboard you know you're *really* addicted!!
  • Thanks for all your comments! I kind of thought we were a bit crazy attempting this but great to see we are in good company!
    Mortgage When Started Over Pay 01/11/2017- £146,500
    Current Total - 10/02/2022 - £6,500 (With Offset
    £10k Savings)
    5 year fix
    MFW hopefully by March 2022
    01/11/17 - £10k / £10k Emergency Savings :beer:
  • Good luck, my only advice is make sure you have some enjoyment along the way.

    Mortgage free - 01/05/2019, mortgage high £200k 2011
  • greent
    greent Posts: 10,670 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Hello, welcome and good luck with your journey! :)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • obay
    obay Posts: 570 Forumite
    edited 17 October 2017 at 7:52PM
    Holly hell, £146,500 in 5 years? what are you looking to overpay on that?

    I make that £2441 over payment per month for 60 months...
    [STRIKE]1/12/16 - £152,599.00 [/STRIKE]
    [STRIKE]11/11/17 - £145,990.00 [/STRIKE] <> Overpaid £3916.
    11/11/18 - £142,074.00
    Barclays Car (5.99%)£0/£8,832.37
  • pinkypig
    pinkypig Posts: 1,814 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Hellooo :wave: . I had a very similar mortgage to yours earlier this year but used savings to knock off a chunk when I remortgaged and I'm aiming for 5 years too (it was 7 but the obsession got a hold:rotfl:). Wishing you the best of luck and thank you for the great idea of reflecting on the changes you've made so far. I'm going to have a go at that too:D

    PP xx
    Original mortgage £112,000 . Final payment due August 2027.
    Mortgage neutral achieved August 2020 - 7 years early!!!
  • Merchandiser2367
    Merchandiser2367 Posts: 211 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    edited 18 October 2017 at 7:08AM
    obay wrote: »
    Holly hell, £146,500 in 5 years? what are you looking to overpay on that?

    I make that £2441 over payment per month for 60 months...

    Yes, that is about right ! :)

    £718 is the monthly payment, £1722 overpayments per month!

    I'm hoping we can keep on the wagon as such :)

    We've recently reduced our £1000 a month childcare costs to £300 so that extra money is going on the mortgage and my wife also got a new job with better pay so a lot of that extra is also going on the mortgage - so it's not like we are skimping more (apart from swapping brands, cutting back on things we don't honestly use i.e sky tv etc.), we are generally keeping the same lifestyle, just putting the extra in the mortgage.

    The dream in 5 years time is to be financially secure for our 3 year old daughter and be able to splash out here and there but still have a good amount to save each month.
    Mortgage When Started Over Pay 01/11/2017- £146,500
    Current Total - 10/02/2022 - £6,500 (With Offset
    £10k Savings)
    5 year fix
    MFW hopefully by March 2022
    01/11/17 - £10k / £10k Emergency Savings :beer:
  • pinkypig wrote: »
    Hellooo :wave: . I had a very similar mortgage to yours earlier this year but used savings to knock off a chunk when I remortgaged and I'm aiming for 5 years too (it was 7 but the obsession got a hold:rotfl:). Wishing you the best of luck and thank you for the great idea of reflecting on the changes you've made so far. I'm going to have a go at that too:D

    PP xx

    Hello!! :)

    Thank you for letting me know how your doing on your mortgage.

    We have thought about using savings, we have around 10K but thought best to keep it there as an emergency fund

    It's early days for our MF journey but i'm hoping as we see the mortgage come down, it will motivate us to keep going
    Mortgage When Started Over Pay 01/11/2017- £146,500
    Current Total - 10/02/2022 - £6,500 (With Offset
    £10k Savings)
    5 year fix
    MFW hopefully by March 2022
    01/11/17 - £10k / £10k Emergency Savings :beer:
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