Single, six kids and going to be debt free!

Mumoffourkids

f0xh0les wrote: »

Can you overpay on a shared ownership?

I was just thinking, whatever you paid in rentgage would form the majority of your deposit on the next house. Plus whatever you save on top. It is never wasted money.

We had our own house for 12 years, then ended up selling and renting in a different city for 9 months, before getting a job in another city and renting there for 10 months. Paying three times what we had been paying in mortgage payments to rent someone else's house was miserable.

You were so aware it was wasted money.

Plus the poxy things had key meters for gas and electric - utterly depressing.

You are doing brilliantly. Nearly 3 debts cleared in such a short time. Tidy your signature and be proud.

I'm not sure whether you can overpay on a shared ownership or not but I would imagine you could. If I did go down the shared ownership route, I would probably do a mixture of overpay and save so I could maybe buy the rest of the house.

I know about renting just being wasted money. I am lucky in that I don't have prepayment meters but I could be paying so much less as a mortgage payment as compared to rent.

I think I will update my signature once I know whether the ex has got a bonus or not. If he has, then I will get a bit and it should clear my overdraft. Its odd as he normally gets paid on the 25th but if that falls on a weekend, he gets paid on the Friday which is today. He would normally have transferred the maintenance by now, so I am hoping that the reason he hasn't transferred is because he needs to work out how much to pay me. Fingers Crossed!!

I have also this morning done my five year plan. I have estimated income and expenses for 2019 - 2023 taking into account that tax credits will reduce when nursery fees reduce and also child benefit and tax credits will reduce when my eldest goes to university and it is looking good. It looks as though I can save just under £70000 in those five years which would be amazing. It also means that if I wanted to go the shared ownership route, then I could probably do that at the beginning of 2021 if not slightly earlier. How amazing would that be! Now just to put my plan into action,

Mumoffourkids

So ex husband paid the maintenance across and he obviously did get a bonus because I got an extra £563.33!!

So that is my overdraft cleared!! :j:j:j

But my other ex apparently is struggling for money so he hasn't paid the weekly maintenance of £70 but is going to pay double next week instead :mad::mad:

So the extra from ex husband has really helped but I haven't been able to save as much as I wanted to. But I have forecast to the end of the month and after nursery fees and rent, I have left £100 exactly in my current account plus the overdraft of course so the extra of £142.78 has been moved to savings account. I didn't want to use the extra maintenance to pay for a laptop for me but instead I have put towards holiday savings and buying furniture bits for the kids.

In addition today I have paid the balance of the party that three of the kids are having for their birthday. So the only thing to get for that now is sweet cones which I am going to make myself and birthday cakes which I won't make myself! Then on the day just some squash to buy along with paying an extra £1 for any kids over 50 that turn up, so about an extra £30 to £40 to pay.

Then the next birthdays are in May so I have a while to save up for their presents but I still have money in my presents fund anyway even after paying for the party.

So I have updated and tidied up my signature and my debt is now under £7k. Just one more payment on tax credits debt next month and I will just be left with the two old debts to pay off.

I've also listed a load of things on ebay this afternoon. Got more to list and will do some more sorting out over the weekend in the garage to find more stuff for sale!

Life is good at the moment! :rotfl:

Storm89

you've done absolutely fantastic

Mumoffourkids

Thanks Storm. I think it is my love of spreadsheets and constantly updating them to see how I am doing that helps. Next thing to save for is the holiday balance. By the time we actually go away I will have enough money but it has to be paid 8 weeks before we go!

Mumoffourkids

Ok so I have had an afternoon/evening of listing things on eBay. I now have 19 items on eBay, 3 have bids on already and still got four days to go. I've just put three items on there at buy it now or nearest offer and got an offer already!

Also I've found mine and my ex husband's wedding rings along with another gold ring this evening so they are going off to hatton garden metals tomorrow to hopefully bring in a bit more cash.

Two PPI claims are still outstanding although they probably won't amount to much.

I also have £11.68 on prolific waiting to be cashed out and various points towards Amazon vouchers on shoppix and shopprize.

So I am full steam ahead with making as much money as possible. I walk round my house thinking about what to sell next! Does anyone else do this?

Mumoffourkids

Ok so overnight all my buy it now items have sold. :j I think I have some similar items somewhere in the house so I will look for them later. I think I might need a to do list for today!

• Take middle three kids to their dads
• Take eldest daughter to have glasses adjusted slightly
• Package up sold ebay items
• Package up rings
• Take parcels to post office
• Post coolboxes for sale
• Look for other stuff to sell under my bed
• Sort out some more of the garage
• FB sale coming to collect at lunchtime
• Meal plan for next week
• Asda order for Monday
• Hoover middle floor
• List more stuff on ebay
• Change my sheets
• Washing mountain!

I think that's a big enough list but I am sure I will find more stuff to do!

Oh and it's also ds2's birthday today. He is 3 but as the other kids are going to their dads today, we celebrated yesterday but he has his presents to open this morning. So I am assuming he will be playing with his new presents today!

Eldest is out tonight so it's just me and the little two for dinner tonight so that's something out of the freezer as I am trying to use up some bits out of there. Right best get on as it looks as though I have a busy day ahead of me!

Mumoffourkids

So I thought I would see how I have done this morning already seeing as half of the day has gone!

• Take middle three kids to their dads Done
• Take eldest daughter to have glasses adjusted slightly Done
• Package up sold ebay items Done
• Package up rings Done
• Take parcels to post office Done
• Post coolboxes for sale
• Look for other stuff to sell under my bed Done and three bits have already sold on ebay!
• Sort out some more of the garage
• FB sale coming to collect at lunchtime
• Meal plan for next week
• Asda order for Monday
• Hoover middle floor
• List more stuff on ebay
• Change my sheets
• Washing mountain!

So not bad for half the day gone. I've also bought myself a laptop. I had been saving for this from sales and money saved. It cost £105 from the local computer shop and I'm very happy! :j

Next on the list to save for is the holiday. I still have 18 things on ebay, six are selling so far so this money will go towards the holiday as well. Right off to change littlest nappy and put her to bed for a nap and then I can have a tidy up downstairs and find some more stuff to sell!!

HoneyBee83

Hi mumoffourkids,
Found you and subscribed. What brilliant debt busting!

Mumoffourkids

Thanks Honeybee for dropping in. I have had a bit of luck to be honest with my debt busting but I am definitely going to keep going and hopefully be able to buy me and my kids a house. Its so exciting to have plans for the future!

brizzledfw

Ditto from me..found you and have subscribed. You're doing brilliantly and look forward this weekend to reading all your diary (PS. wow to that SOA on groceries...:))

Have a great weekend - hope its sunny where you are

Brizzle