The MF pipe dream

Youthgonewild

Thank you Leigh, me too. Going to check my work emails once hone school is out of the way.

Youthgonewild

Quick update: I decided not to opt for a voluntary pay cut, with the consideration that a) I work p/t to effectively have already taken a pay cut in that sense and b) my pay grade isn't exactly earth-shattering and there are so many more people above me in the pecking order that could probably snip their wage a little without feeling it too much.

Also, I finally came off furlough this month and we are busier then ever (work in academia) preparing for the new term and academic year. I've got loads to keep me busy; but due to Covid everyone is in the same boat of having lots of annual leave to take and not much time to slot it in before the new period. 

I decided to start my Xmas shopping early (yep, I am that sad) but I was thinking that if the worst happens and we enter another lock down over Autumn/Winter and I ended up with potentially no money, at least my kids would have some sort of Christmas. I like being prepared for all eventualities.

I haven't read any diaries for a while - I hope everyone is okay and that this post isn't in bad taste to anyone. I feel lucky to have employment at the mo, and thankful that my family are all safe and well. Just wanted to update as I haven't been on here for some time.

Youthgonewild

Hey hey! Right, where was I? Oh yes, no paycut, off furlough scheme, back at work, got it. 

It has been a busy old time in Academia Land. New term has started. Students are back for f2f teaching where possible - all in masks of course. Timetabled labs have gone manic with social distancing in place - there are now loads more practical sessions. The amount of sanitizing everywhere has completely gone through the roof. I'm now wondering what happened to my old job and what is this strange concept in its place.

Life is ok though, could be worse. Although my employers did faff up my wages in September. They didn't remove me off furlough pay even though I went back to work in August, and thus 20% of my pay was deducted. My Line Manager was great, sorted it out with HR so I should get my my wages with what is owed on top this month. 

I had to self- isolate during September. Oldest child was showing covid symptoms. The first test we did got lost in the post (home kit) and we never got the results back. Had to drive to a different city to get another test as the school wouldn't let him back until the all clear was given. Thankfully it was negative and meant I could go back to work (again!).

I've been chip chip chipping away at the mortgage. I've totted up my OPs big and small this month and realised I've overpayed almost £300 in a month. Bit baffled as to how since my wages were underpaid, but I've been paying off various sized chunks since September and it all adds up.

I realise that if I live like a pauper for the next decade I could clear the mortgage by then. I also realise this would be a miserable existence so I shall refrain. For now....

Not long to go til Hallows Eve which is easily my favourite time of the year. I am gutted there will not be much activity this year, no parties or trick or treating, but I still intend to make it fun for my kids regardless. My youngest doesn't have a costume so I spent a tenner earlier tonight at a well known supermarket buying him a costume, a witches broom, a devil fork thingy for my oldest and I got some Halloween balloons to decorate the house. I know it is weeks away but honestly, I am like a big kid at this time of year and I don't care who knows it

Other than that spend tonight, I have lived the frugalest of frugally for a long time so it was worth it to see the kids happy.

Anyway, boring sod I am, I'm going to get a brew before bed. It's nearly my bedtime

Youthgonewild

I got my wages yesterday and had my underpayment from last month paid on top.

I did I couple of things with my money. Firstly I budgeted my outgoing for the month. Then I bunged some money in my "Car Fund" - hoping to buy a new car soon and the stash is building up nicely. I then decided to stash some cash in my ISA that I barely ever use - rubbish interest rate but I decided to use that money as an emergency fund/Xmas and birthday fund. Next, I bunged £70 odd quid to the bank as a cheeky mortgage OP. And the final thing - I bought a mattress on sale for my new decorated spare room. I bought the bed some weeks ago and haven't got around to getting a mattress for it. The next step for me is to budget for Christmas. Kids presents are all bought, but I need to buy for the rest of the family. 

Youthgonewild

I've just logged into my mortgage account online to see where I am up to with it all. Current balance stands at £77686.25. The mortgage term I have left says I have 30 years and 0 months to go. My actual mortgage where I am currently at is 24 years and 0 months to go.

6 years knocked off! Woooooo yeah! 

Youthgonewild

It's been a while since my last post.
Not much to say really. I'm still at work, kids are being home-school by their dad and life is ticking along. 
Been sorting a few tasks out this week, shifting all my bills to the same day. Mortgage, council tax, water and tv license all come out on pay day. I've shifted my broadband, mobile, energy and netflix DD to the same day, been meaning to do it for a while but kept forgetting. Should make budgeting easier.
My guinea pig died this week. Eldest son was upset, youngest was not phased. I've got a load of guinea pig items I could sell now so hope to do that soon. I miss her, it is weird waking up and not having to feed her/ change her water
I have been overpaying my mortgage where I can. I don't feel like I've done much with it lately but it all adds up I suppose. Fixed rate ends next year so hoping to hammer the balance down in time for remortgage.

Youthgonewild

I'm not sure I understand this but I logged in to my mortgage account to check the balance (as you do). Bear in mind, I'm on a fixed rate til 2022. My usual fixed monthly mortgage payment is £350 pm. My mortgage term left is 29 years and 9 months. But realistically it's at 23 years and x months because of the OPs I have been making.
For some reason, the bank has recalculated my mortgage, even though it is fixed. So they have recalculated the balance over the remaining 29 years and 9 months, and it shows on my account that contractually, I only need to repay £295 pm.
I rang them up to query this, as my interest rate is fixed and to my mind my payments should be fixed for the period. The man on the other end said he doesn't know why it has been recalculated, it's probably just a result of all my overpaying. But I've been overpaying for 3 years and they have never done this before. How strange Anyway, I've asked them to put it back up to £350, which is effectively overpaying by £55 pm without even trying now. Just wondered if anyone else has had a recalculation whilst still in a fixed deal. 

Youthgonewild

Wow it's been a long time since I was last here!

Finally into a new 'decade' of my mortgage - entered the swinging 60s. I stopped overpaying for a while due to CoL, and all my spare money was sucked up by bills and trying to maintain some savings.

Mortgage rate (went on to a 5 year fix in November) now stands at 3.44%. I'm glad I made so many overpayments over the years, I would hate to think what my payments would look like now otherwise.

Had another rejig of my finances and upped my overpayment again. I had to take out a loan as I owe ex some money so I'm going to try and clear that as quick as I can.

DS1 has recently joined Sea Cadets (juniors) so I've had to spend money on a uniform for him plus his subs. Other than that, I'm trying to cut back my spending as much as possible, especially when it comes to my weekly shop.