MeandO's mortgage-free musings

MeandO

A spend of £99 on the credit card last night but paid it straight off this morning + £1. :rotfl:DS's Dad transferred me £50 of that as it was something for DS. There's a balance of around £400 on the credit card now which, although not ideal, is not umanageable and will be paid off as a priority, hopefully within a month or two.

I picked up some groceries yesterday including quite a few YS bargains which will be portioned up and frozen. I spent around £35 in the supermarket (which included £4.50 on some clothing) and then just under £10 in home bargains on household goods as they are much cheaper there. That shop should do DS and I for a good 10 days or so now.

I had my mortgage statement through the post yesterday. I was a bit disappointed that my term hasn't reduced at all, but then the first big overpayments early this year had to reduce the monthly cost of the mortgage to make it affordable for me after going part time. I have already asked them that any future overpayments are to reduce the term, but I will be phoning them back to check that's been done after the next OP as I have little faith it will be actioned.

Lunch is a portion of soup taken out of the freezer last night. DS's tea tonight will be a lasagne which I batch-cooked and froze a little while ago. I will grab something from the fridge, maybe a jacket potato and one of yesterdays YS fish portions.

I had more bad news about my Mum's condition last night, so feeling a bit with the world presently. I really do hope 2018 is going to be a better year for us all.

kirtsypoos

Sorry you've had more bad news about Mum MeandO, but well done on keeping our chin up despite everything that has been going on for you. How is the new oven faring?

MeandO

Thanks Kirtsypoos xx

New oven is fab, thanks! Although I'm a bit obsessive about cleaning it every time I use it to keep it shining and sparkling! :rotfl::rotfl:

MeandO

I've just paid the car insurance which is due to expire in a couple of weeks. I got it for £292.20 by shopping around (present company wanted £400! :eek:), so have transferred £300 over from the savings to cover this.

Savings now at £1765/£3000

MeandO

Last night I did something I've never done before... I ordered myself a takeaway for delivery. :eek::o I had real cravings for chinese food, was in a bad mood and really fed up, so thought I'd treat myself. Instantly regretted wasting the money once I'd placed the order, but was too late to cancel. When the food eventually arrived, an hour and a half later :mad:, I didn't enjoy it at all and felt ill from eating too much afterwards. Lesson learnt. Never again! To make myself feel better for wasting the money, I took £20 out of my spending money and paid it off the mortgage as an overpayment. :rotfl:

Savings: £1765/£3000
Mortgage: £78,650

MeandO

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1382.54
Partners monthly income after tax....... 0
Benefits................................ 182.39
Other income............................ 220
Total monthly income.................... 1784.93

Monthly Expense Details
Mortgage................................ 381.6
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 81
Electricity............................. 33
Gas..................................... 33
Oil..................................... 0
Water rates............................. 31.05
Telephone (land line)................... 28
Mobile phone............................ 26
TV Licence.............................. 12.12
Satellite/Cable TV...................... 10
Internet Services....................... 10
Groceries etc. ......................... 150
Clothing................................ 20
Petrol/diesel........................... 40
Road tax................................ 3
Car Insurance........................... 30
Car maintenance (including MOT)......... 67
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 25
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 6.25
Contents insurance...................... 6.25
Life assurance ......................... 13.74
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 0
Entertainment........................... 120
Holiday................................. 40
Emergency fund.......................... 150
Swimming club........................... 16
DS's Dinner money....................... 28
Central heating cover................... 20
Total monthly expenses.................. 1421.01


Assets
Cash.................................... 1765
House value (Gross)..................... 170000
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 177765


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 78650....(381.6)....3.1
Total secured & HP debts...... 78650.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Bank of Mum and Dad............0.........200.......0
Sainsbury's CC.................423.28....100.......0
Total unsecured debts..........423.28....300.......-


Monthly Budget Summary
Total monthly income.................... 1,784.93
Expenses (including HP & secured debts). 1,421.01
Available for debt repayments........... 363.92
Monthly UNsecured debt repayments....... 300
Amount left after debt repayments....... 63.92

Personal Balance Sheet Summary
Total assets (things you own)........... 177,765
Total HP & Secured debt................. -78,650
Total Unsecured debt.................... -423.28
Net Assets.............................. 98,691.72

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

MeandO

I thought it would be interesting and quite helpful to update my SOA as I haven't done one for a while.

A few things are spread across a couple of different categories - the phone/sky/broadband etc as I've just divided the Sky payment up.

It does show that I need to be saving £100 a month into the car maintenance pot, which I intend to do separately from the main savings from now on. I will also be able to save at least £150 into an emergency fund, £40 for holidays and school hols (I'm not planning on any big trips for a long time now), £40 a month towards Christmas & birthday gifts and still have a generous 'everything else/entertainment/treats' budget. The remaining £63.92 will be allocated to mortgage overpayments, hopefully, unless it is needed for anything else.

With regards to the grocery budget, I often don't spend all of this, so any leftover can also be sent to the mortgage.

Oh, and I know the £100 a month CC payment isn't the minimum, but it's the minimum I will be paying just to get rid of it quickly.

I will be able to save an extra £200 a month for the next 2-3 months too as the very generous bank of Mum and Dad have instructed me not to make that payment until Feb/March.

MeandO

I updated YNAB this morning and I had £37.40 spare, so I sent it to the mortgage to round it down.

Total now:

Mortgage: £78,400


We had an awful weekend.
My parents came to visit, but unfortunately we had to make an emergency dash to hospital with my lovely Mum, courtesy of some wonderful paramedics. Everything is such a worry, I really don't know what else to say about the situation, but it makes me so sad.

Not much else moneysaving news to report. I have plenty of food in, although need to pick up some household stuff, so will pop to home bargains this week. I also need to fill the car up with diesel, but that is accounted for and should last the month.

I had my bi-annual haircut on Saturday before the weekend went pear-shaped. £26, but paid in cash and budgeted in.

I've brought breakfast (of sorts ) and lunch to work, dinner for myself will be hunted down from the fridge and freezer, DS's is planned and defrosting. I'm looking forward to getting home today and pottering around for the evening. I fancy doing some cooking this week and getting a few more meals in the freezer along with a few festive treats to cheer everyone up a bit. I've rescued 4 pears which have seen better days from OH's fruit bowl this morning, so will may make something pear-y and ginger-y...

Kittenkirst

Oh, I’m sorry to hear your weekend was so stressful, it must have been very scary with the paramedics etc out, hope you get some time tonight to wind down a bit.

What type of festive treats are you thinking of making?
I’m hoping to make some biscotti this week to pop in a tin for Christmas to posh up some coffees on the cold nights :heartpuls

MeandO

Thanks for popping by Kittenkirst
Biscotti sounds lovely. I’m not sure what to make yet, but I haven’t done the obligatory mince pies yet, so they are a must sometime before Christmas. I’m hoping to get DS interested enough to make and decorate a Christmas cake with me as well. I fancy trying something a bit different though too, so will have a read through some of my recipe books. I have a lovely Scandinavian baking book which has some lovely Scandi festive treats in so I may try a couple of those.