Eagerlearners journey to Terminate the mortgage

wishingthemortgaheaway

Watch the tutorials. It really helps.

starnac

wishingthemortgaheaway wrote: »

Watch the tutorials. It really helps.

Thanks. I think I've got it now. We'll see tomorrow when my pay goes in though

EagerLearner

Oooo Starnac I really want you to love it! I will help you love YNAB and be a fan as much as Wishing and I are - it will save you a bunch. Let me know any q's on pm? YNAB are super helpful and they will give you video links. Youtube has every topic you could imagine. What got me through the initial days and teething as the FB group alongside me, the fans one, highly recommend it as there is always someone who lives and breathes it happy to help you.

Rubbish day today as due to V1rgin I have had noooo broadband which means nooo work so we're on beans on toast next week. Caught up just now a little but next 2 days will be manic.

Moneysaving

- Got Santander interest & put into my YNAB category for offset
- Checked Consumer Pulse and either I miscalculated or they have not added latest points as I still can't cashout doh
- Some client payments in so filled my next £100 in YNAB offset woo and also put money forward into October bills.
- £60 back into Christmas category refund from NakedW1nes sub that we are not continuing, ultimately we like the L1dl enough and so much less money, plus will likely keep an eye out for deals on the back of their brochures. We usually buy 1-2 a week and I am not scared of stocking up on a good deal ha.
- NSD today, tomorrow likely will need bread poss bananas (bread, milk and bananas in this house, always) but this will be from cash
- Got confirmation of a long term lodger woop, so def will be overpaying mortgage with that.
- From now on Child Benefit will all go towards Christmas each month, as I recall in Oct we get 2 x CB which is brill, likely will get some pressies then.
- £56.86 trackable on £co, will likely be a few weeks in coming yet, esp as £40 of that is for the new cc, must get MrEL to apply for it too
- Had to get £10.02 petrol yesterday but aside from that think we can slide through til the food shop Fri. As this will only appear on bank 1st Sep, it will come from Sep food budget.
- Poundl4nd delivery arrived, bought based on last Weds email with the everything £0.85 code. Most things are ok aside from small box of cat food (emergency only) and some of the crisp packets are teeny but I kind of expected that. The bazillion bin bags better be good as I have 12 rolls of 'em now :rotfl: but at that price I could not resist and ultimately, they will not go off. The shower gel etc I could prob have got better deals as some are 250ml, but for a first order not bad.

Feeling run down today so off to read a good book & soak, then watch bad tv later on. Dinner is from the freezer so no work there, and a child free home so must rest up if I am to work 100% next couple days.

Have been pondering a walk in wardrobe area, and have a perfect area for it in our bedroom, hmm need to think what needs buying and what the budget might be

wishingthemortgaheaway

A very busy day.

CB is paid every 4 weeks, our 2 payment month was August this year, but I'm sure it was a different month last year. The weirdness of our calendar!

EagerLearner

OOoo thanks Wishing, so ours might change then - hopefully earlier but I do not mind if it's November for example.

Shattered today and feeling run down, not much work achieved this week so let's see how next week is. Luckily this has been a good month overall, despite spends on holiday, several days off due to school hols and it being a long month.

I shall have a proper check in at lunch, but nowt to report for now as there are tumbleweeds on YNAB tee hee.

Starnac let us know how you get on once you have YNAB'd...

VDOT47

Hi EagerLearner - I think it seems like you are well on top of things here.


One question though, your SOA shows about £1600 spare after expenses - how are you using that? Is it being overpaid, saved, spent? Seems like the option to make big inroads into the mortgage are possible, unless I'm missing something (which is quite probable!).

EagerLearner

Hi VDOT47 thanks for saying hi - yes the SOA did not seem to show an area for pensions, funds etc. Currently approx £600 had been going to pensions, £50 property, £170 funds. Some on MiniEL pension and savings. Then the rest goes to wants like holiday, eating out, books, clothing etc which we do not spend alot on. In a normal month with no hols or disasters, 'wants' are £250ish. Also on YNAB, you end up 'sending' extra cash to months ahead, so it looks like I have spare cash but in fact it's sitting in September already paying bills on YNAB if that makes sense. the SOA also doesn't allow for tax etc, which I put a fair bit aside for each month...

Today's summary:

- £100 paid to mortgage offset
- £48.24 in from Quidco, which is sitting in offset category waiting for a payment sometime next week
- £3 spent in cash, £2 of which pinched from my £2 pot but will replace
- YNAB all balanced & no spends on card so we should have no change in balance tomorrow
- Invoicing day tomorrow and it will be possible to put more into October & offset, plus need to allow for decorating next month, around £150 or so
- Around £2.50 tracked on Quidco from a purchase
- Hubby needs to lower pension tonight or we will miss deadline...
- 350 points until I can cashout on CP voucher, so close

Redecorating MiniEL room next month so have sought out what he'd like on Al1Express, will take a little while but he is super excited. I want to get some items for our living room too, so researching costs there. Likely £100 for him £50 for us but I can imagine that growing :rotfl: I want a new blind, artwork & frames at least.

Then I also want to do a built in walk in wardrobe :T

EagerLearner

Anyone know why I keep getting an error when I try to update my signature?

wishingthemortgaheaway

Sounds like good plans EL.

EagerLearner

Hi everyone, it's that favourite time of the month! And it's Friday too, great all round ha.

Well I managed to only spend grocery money so far which I know will show up on bank tomorrow, so part of Speept spends.

Financials:

- All invoicing for this week & month done, a good month overall considering regular hols & school hols too
- Massive grocery shop done £63.77 but this includes a bottle of wine, beer, cat food, toilet roll, stock cupboard items plus MiniEL packed lunch items we would not normally need to get and various things like some flowers I treated myself to for a good month. There's quite a bit of meat and fish in the freezer now too.
- Cash in today has been YNAB'd, I beefed up some categories for Sep then put the rest into October. All of next week income will go to Oct. Tonight will YNAB hubby income which covers Sep mortgage & rest will go to Oct.
- As suspected hubby left pension reduction too late so his usual pension will go out. From Oct any savings from the reduction will go to offset.
- Have planned out Septembers' meals and think we can manage well, I have a load of white beans and kidney beans bought from Amazon to get creative with, so any ideas welcome. One thing will be veggie chilli next weekend, so only 5kg to go ha.

What we're contemplating is increasing cash on hand in the offset, so that if next year we consider selling and getting a larger place, we are in the best financial position we can be. We are at 49% LTV I think now, but as I am self employed any extra loan on mortgage would need good figures for 18/19 and lots of ready cash.

We have also thought of extending, and I have been reading CathT diary with interest. However, I think we have already spend alot on this house and do not think the extension would 1) be granted (as no one else has a roof extension in our road) and 2) cost around £40k eek and 3) we would not have additional features like our own parking etc.

We stalked Rightmove last night, and paired with news on the radio earlier, seems prices are coming down, so we'd have to see what our position would be come Spring.

Ordering bits and bobs shortly for decorating MiniEL's room, he's super excited. Have pretty much all food ready for his first full term of packed lunches now, can't believe they don't provide free lunches at least until age 10...

Tomorrow will be a full day of decorating whilst MiniEL is at grandparents, then I am off a couple of days which I am really looking forward to just forgetting about work for a bit. My mind is full of ideas and I do like September from the point of view that it feels like a fresh start, and I do like planning ahead and making my lists ha.

Feeling a bit run down still so ome bad telly and chocolate planned, made a big batch of soup earlier for next week's meals so we may have that or bbq pork.

Will check in as and when, have a fab weekend all!