Cottage Countdown

LeighofMar

Well, not much has changed. Even though our state has lifted restrictions, we are continuing working from home, which we were doing anyway, but when DH has a project to go to, he's mostly alone or can maintain proper distances all day, so we're good on that. Grocery supply seems to have gotten back to normal and we still order those for pickup as always. I only venture out to the garden centers to pick up plants and accessories for my garden, which I'm having so much fun with.

In mortgage news, I'm paid up until August and I just sent a small OP today of $25.23 to get us out of the 39k bracket. So now we're officially in the 38k bracket at 38,995.00  My goal would be to be around 30-31K by the end of the year, but it's probably not going to be possible to pay 8000.00 in the next six months. I will still try my best though. We have had some medical debt to pay of $800.00+ and that's now officially paid. And I ordered the last two dining room chairs for my set, so now we have a proper dining table and seating. I love it and put them together myself. I have definitely been doing more myself, cutting the lawn, treating it for mosquitoes, all the gardening and design around my fountain area is all my doing. It's so much fun and I'm glad I've been able to enjoy it. I already put the river rocks/pebbles in it and need probably 2 more bags. I'm surrounding it with Asiatic lilies, elephant ears in a big pot, daylilies, and I want to get some ornamental grass soon for the back. I want it to have a secret tropical feel once I'm done with it. My bare root wisteria has exploded and in 10 days, she has multiple stems and branches shooting out. I can't wait to see how she looks by the end of summer. I'm at the point where even though I sometimes still think about moving to another state, now I'm so attached to my plants, I would never be able to sell this house and leave them behind.   
Besides, as much fun as I have looking at other houses, I really don't want to start all over again, in my 40s trying to pay another house off and having to fix whatever issues are on that house when I'm completely familiar with what this house needs and how to get it done. So I will be content and just turn this cottage into our jewel box home, exactly the way I want it, which would be comfy and cozy. I actually ordered and hung up a pair of curtains for my living room. This may be not a big deal to most people, I'm sure, but it is ridiculous how awful I am with home decor. We have been in this house 4.5 years and I finally ordered curtains for the living room. It's like something happens to me when I try to do some decorations that I go down this rabbit hole and end up in analysis paralysis for something so simple. I'm hoping that now that I have my curtains up, and they look lovely, I am over this ridiculous part of me and will finally decorate my home to reflect my personality. It's so silly because I know my style. I know what I like and how I want it to look. Just can't seem to execute when the time comes for me to purchase something. Sigh. I think I'll give myself an ultimatum that the next thing to buy decor-wise is a curtain for the dining room, then wall decor, then move on to the next room and so on and so on or 20 years from now, I'll still have bare walls and probably these curtains long faded and looking rough 

Hope everyone is safe and healthy and is able to pass the time enjoying their homes and gardens too.

savingholmes

HI Leigh
We are doing fine thanks. I can't imagine living without front window curtains but I suppose it depends how overlooked you are. We don't have any for the downstairs study - we did but we prefer the light without them - and we don't have any for the kitchen or for any opaque windows.  We have tall trees and plants that minimise how much the neighbours can see in the back. 

Glad you are staying safe and can socially distance. Your mortgage is coming down beautifully.

LeighofMar

savingholmes said:

 Your mortgage is coming down beautifully.

Thanks so much Savingholmes. It feels so close yet so far, but either way, I'm still excited and motivated to get this thing put behind me. Rainy day today, so I guess I might as well work  and do my budgets and whatnots. 

LeighofMar

Managed to squeeze our retirement contributions out for April. Income is still coming in but slower with everything going on. But construction has not come to a complete halt so that is a good sign. Investment property is back on track and hopefully will sell this summer. 

I was originally just going to make a principal payment to the mortgage this coming Friday but decided to make the regular monthly payment which will be August's payment. I like having a 3-month buffer just in case things go south again. It will be a tight June but peace of mind is worth it. Plus transcription has been going fine for side pennies and I will cash out end of next week. The goal is to get 800 to 1000.00 in OPs a month but COVID shook all that up so I will do my best between budgeting and maybe finding some spare change to throw at the mortgage. Hope everyone is having a safe and lovely weekend. 

LeighofMar

Wow. I just did some rough calculations on what our budget could look like without a mortgage. Assuming we never give ourselves a raise, keeping the same savings rate plus saving the mortgage payment for us now, we would still have 500 to 650.00 in disposable income. That would definitely be a dream scenario. Of course I hope we can give ourselves a raise in the future but this rough draft budget gives me hope and motivation to keep at it. Has anyone else done their future MF budgets and seen how much you will be saving? I'm psyched. Can't wait. 

LeighofMar

Monthly mortgage payment sent today. Now we don't have to make another payment until September. Of course I'll keep the OPs going but the 3 month buffer gives me peace of mind during this crazy time. DH is still happily working on the travel trailer giving it a complete redo with add-ons and he has officially banned me from seeing it until it's finished. I feel any minute he's going to make a sign that says No Girls Allowed 😜. That's fine though. Can't wait to see what he's done and would love to actually use it this year but with COVID, it's ok if it doesn't happen if it means being safe and keeping others safe. 

More garden work this weekend. I have already worked my numbers. If nothing happens, I hope to finish June in the high 37k bracket. Steady as she goes

savingholmes

We are on an interest only mortgage so while we are over paying slightly it's minimal. The biggest difference will come when we are no longer in debt - however we are planning to invest that in our pensions instead. 

LeighofMar

Sounds great SH. No debt and fatter pensions 😌

savingholmes

In the UK we have pension freedoms that may mean at some point after my 55th birthday I can if I have a certain type of pension - withdraw 25% tax free. My plan is to use that fund to either repay or help  repay the mortgage. Our plan is to spend the next year or so repaying debt and then at least the next 4 putting that same money or more into DH's pension. I am trying to transfer a pension into the right kind of account so I can take a lump sum. Our mortgage is due soon after I turn 61 - so we have just over 11 years left. 

debtfreeoneday

I have a budget plan running that shows pension income and outgoings in it. We are quite lucky in that current projections show us bringing in more in retirement than we did whilst working but that’s more luck than judgement and some good earlier pension pots.