Lurking MFW finally posting: Mortgage free in 2025

blocpartyfan

hi wishingthemortgaheaway!

Thanks so much for your lovely message. We are on the same path, let's stick together throughout :beer:

Childcare (which for us a mix of nursery and a babysitter) is so expensive but it's one of the few things I don't mind paying for. It gives me peace of mind and the ability to earn more money and make hay while the sun shines knowing my little one has been well cared for.

I agree, I am certainly lucky to earn such a high wage and have done so for just over two years now whilst I've been on secondment. I am returning to my old job and taking a relatively steep wage cut in July - it's either that or I continue without the security of a permanent job and all the added stress of my current working environment which does not lead to a very happy blocpartyfan! Not sure which path I'll chose at the moment, but I hope roads lead to a path of manageable stress :eek:

I think this experience of the forum has really reminded me just how important it is to live below your means and learn to embrace things other than material goods and spending as a way of life.

I adore your 13 step plan - I might have to copy it! Small steps, small steps, small steps. Yes, you are on to something!

blocpartyfan

Merchandiser2367 wrote: »

Soz for late response, don't get too much time to read on here currently

We have pretty much been on a budget since we met.....firstly we paid off £10,000 ish debts, then saved £40,000 for deposit on our house, then budgeted hard again when wife was on maternity leave (probably hardest of all as wife only got statutory maternity pay and had literally no money spare at all for a year) - so we are used to it......second nature now - we actually feel fairly well off now compared to maternity days so it was a blessing in disguise so we can now chuck loads at the mortgage but have more money to spend.

So, when we do pay the mortgage off, we are going to feel really elated as we won't have to budget for first time in years!!! Can't wait :beer:

You are both so good, good habits die hard. Pregnancy and parental leave are fantastic motivators for living frugally - I think my nesting phase was being a cheapskate! :rotfl:

I think we will have to set a date for a virtual drink and a gig in three years to celebrate!

blocpartyfan

It's been a rough few weeks...

We've had some real success in savings, which have gone from £10,000 to £15,000 since the end of January. We've reduced the frequency of our baby sitter (which she mistook as saying goodbye to, took lots of convincing that we couldn't do without her as part of the family!), which means things have been a bit cheaper so we've relaxed a little and booked a few trips to take our little man and train lover to the National Railway Museum in York and the Space Museum in Leicester. And finally planning his first ever trip abroad now that his passport has arrived!

But I've woken up to how badly I have been bullied at work over the last year. I think I've finally had enough of it and am no longer letting certain comments and behaviours go without some challenge, which is causing me some real stress. I am managing it the best I can, but it's definitely hard. It's leading me to realise that perhaps the hugely high expectations of paying the mortgage down at the rate I stated may not be worth ruining my overall health. So we've looked at options of how long it would take to pay it down if I return to my normal job and if I stayed there in the same role and DH didn't get any further promotions (both scenarios unlikely) - 4 years. That's not terrible!

Have reembraced my love of Lidl and Poundstretcher in recent weeks! What bargains!

blocpartyfan

There's nothing like a bit of sunshine to raise the spirits! Hope the sun is shining wherever you are today!

Had a proper shopping spree this morning - lots of lovely new summer clothes but means I've already spent £105 and we're just half way through the day :rotfl:

Now that the end is in site in my current secondment, I've definitely felt more relaxed. I've addressed the bullying boss who's been much better towards me and have started to wind down from all the stress. Lovely stuff! I know I'll miss the extra £1,000 a month income but for my health it's not worth it. And if it means 2022 rather than 2020 to pay off the mortgage at least I'll be healthy for it!

A nice little bonus was getting credit interest on the savings, which was just over £300. I'd forgotten about that! And I got paid this week so we now have £16,000 in savings, and looking forward to our 10 year wedding anniversary holiday next month too!

Now will catch up on everyone else's journeys!

blocpartyfan

Had a lovely bit of money back in the pot this week - Taxfree childcare mess up means we've just been refunded £905! :beer:Initial inclination is 'can't think what we should spend it on, therefore just put it in savings'! How this forum has changed me.

Hope you're all having prosperous weekends!

Merchandiser2367

blocpartyfan wrote: »

Had a lovely bit of money back in the pot this week - Taxfree childcare mess up means we've just been refunded £905! :beer:Initial inclination is 'can't think what we should spend it on, therefore just put it in savings'! How this forum has changed me.

Hope you're all having prosperous weekends!

Great news on you unexpected refund! They don't happen often but feels great when they do !!!128578;

wishingthemortgaheaway

blocpartyfan wrote: »

Had a lovely bit of money back in the pot this week - Taxfree childcare mess up means we've just been refunded £905! :beer:Initial inclination is 'can't think what we should spend it on, therefore just put it in savings'! How this forum has changed me.

Hope you're all having prosperous weekends!

Wow... that's some refund. How was there a mess up? We use tax free childcare and have had no issues (so far!) so it would be interesting to know what could/has gone wrong.

blocpartyfan

Hi wishingthemortgaheaway!

The website stopped processing the top up, and it's taken them 9 months to reinstate it :eek:

I think it could be devastating for other families who might need the money just to eat...

blocpartyfan

Merchandiser2367 wrote: »

Great news on you unexpected refund! They don't happen often but feels great when they do !!!128578;

Aw thank you very much! :money:

It's funny how exciting getting the money you were always owed anyway feels, compared to just getting it as standard!

blocpartyfan

advice request alert...

what are people's thoughts on the best mortgage for making overpayments? You can tell I have some spare time on my hands as little man is down for a nap after a mammoth toddler fun morning of swimming and soft play (what a combo!) - and a bargain £9!

I'm making a little spreadsheet of options we have when we get to move off our fixed - next December. We have always had a fix - apparently a very British thing, so very apt :money: But I now want to weigh up the pros and cons of SVR, tracker, offset, etc and any advice anyone may have very welcomee!