Thirty something dreaming of not paying mortgage

kaycastle

Hiya all, it's been a while since I posted

Our cat got an injury about a month ago which cost about £250 in all but she is all better now thankfully.

Things are going well I think, although am starting to think about fitness again and have been swimming more. Getting into the rhythm of walking and doing home workouts again as I went through a month of being super lazy.

Lots of home grown salad and herbs to eat at the moment which is lovely. Going to sow another batch tomorrow. 

I saw a news story today about a family spending £5000 a month not including food or petrol. I hope they find their way to the MSE forums for help.

debtfreeoneday

£5000 a month?? 🤯

kaycastle

debtfreeoneday said:

£5000 a month?? 🤯

I know right! They had about 5 different TV subscriptions including sky, car finance, credit card debt and they were including about £300 savings in out goings. I think they had something called gift subscriptions as well and I didn't even know what that it is, I had to Google it haha. Think their mortgage was about £1600. I was a bit shocked, I think they posted on that mums forum  but I hope they find their way to the mse forum. I can only imagine what the food bill is if the other stuff has spun that out of control.

kaycastle

Money update

Time for a progress update
Feeling really pleased as mortgage is almost at £184k and in January it was £194k so feeling like its starting to decrease a bit faster now. When we next re-mortgage in 2024 its on track to be £120k or less. Which seems so tiny compared to the start, so exciting. 

I try not to future daydream too much but my student loan will be paid off pretty much around the same time the mortgage will be around 2029-2030.... going to go on so many holidays that first year to celebrate!! 

I now have exactly £20k in savings ready for maternity/emergency fund for living on one salary. Also pension is at just over £20k as well. 

I've got about a £2k buffer in my current account too which keeps rising a little each month - like to keep it there as it earns a bit more interest than any savings right now and only want to dip into those savings when I really need to.

One salary plans

We will have just my salary for about a year in one month. I'm not going to do a regular savings direct debit for first time in ages - want to prioritise keeping up overpayments and my salary just about covers everything. Might occasionally do transfers to savings if I somehow build up super large buffer or get bonuses.

I think OH actually has savings that will last almost 6 months of his share of the bills as well so we *should* be pretty okay and not need to adjust lifestyle too much - I think we just know we can't go crazy.

kaycastle

Some big news I am pregnant so things just got very exciting! 

I haven't updated my spreadsheets yet, just been enjoying the news and feeling very happy. 

Baileys_Babe

Congratulations take time to enjoy the news.

When you come to updating your spreadsheets remember babies do not need very much and what they do require often it can be picked up for free (friends/family/freegle etc) or cheaply. Once you announce to family and friends IRL you should tell them you are welcoming preloved things for the baby, which are better for both the environment and your pocket.

joshiesaunt

Congratulations!

Chiglepig

Congratulations!

South_coast

Oh wow, congratulations 😍! I'm so happy for you both x

kaycastle

Thank you everyone for your congratulations   I'm so excited!

Thanks @Baileys_Babe I'm going to be so MSE about this - I can't believe how much good stuff there is on fb marketplace.

Also I registered at the library and borrowed lots of pregnancy books So I don't spend a penny on consuming content about pregnancy.