Single gal balancing my way to mortgage freedom!

frankersBri

@anxiousnow well done for paying yours off too! I thankfully was approaching the end as the interest rates boosted, but for the past decade or so at such a minimal interest rate it almost didn't bother me. I also thought I'd be one of the ones that had it written off, but my salary had improved so repayment was clearly going to happen. 

@South_coast absolutely better to not have a millstone! Great phrase! Even if it gets written off after 65, that's what, 40+ years of interest and monthly repayments (generally). Insane really. 

frankersBri

February update time!

My usual £300 OP gone into savings account (plus ~£27 interest earned), to total £2991.79 total mortgage offset savings. Current mortgage balance (inc savings offset) is £158,300.

Had the flight compensation from Ryanair plus no student loan direct debit for the first time this month, meaning I am feeling more comfortable. Had put a bit on my credit card in recent months, and though always paying off in full each month so I don't pay interest, it's been tight. So hopefully getting some breathing room back in now. To be fair January was also an expensive 6 week month given we got paid so early in December, plus I had some one off things to pay (home insurance, final instalment for my hiking holiday in March).

I've opened a Chase account so I can earn 1% cashback on all of my spending. Seemed like a no-brainer and an easy way to claw back a few pounds a month. So that is now my default spending card. I do have plenty of accounts now, so my spreadsheet to keep track of where money is and where money needs to be for direct debits/automatic transfers to savings/mortgage/sailing payments, whilst maximising the time my money spends in accounts earning interest. Quite the balancing act, but does feel worth it for the interest gains. 

2023 goals update:
Finance:

• Pay off my student loan Done! 
• Save £6k towards sailing sabbatical (£2k/£6k)
• Pay £13.5k off mortgage (inc savings offset) (~£2k/£13.5k)

House: No progress yet

• Finish dining room (aka, clear out the "DIY corner")
• Repaint bathroom ceiling & walls
• Paint upstairs landing

Wellbeing:

• Cook 1 new recipe from my cookbooks per month (1/12)
• Read 24 books (2/24)

Health:

• Attain a 120kg deadlift (Best so far: 110kg)
• Run 1 mile per day on average (42/365 - ahead of schedule!)
• Run 5k PB
• Run 10k PB - training plan on track

MovingForwards

Congratulations clearing the SL and benefiting from the extra new money. 
You've great plans for this year and the 10k training will make a difference when on the sailing trip.

frankersBri

March update time!

Regular £300 OP gone into savings, plus £25.99 interest. Total OP for the year £953.12, total in the offset savings account £2,784.39. Current mortgage balance including offsets is £157,300. Taking £1000 off the balance in a month feels good!

February has been an up and down month. Am speaking to recruiters trying to find a new role as I am feeling pretty frustrated and demotivated at my current place. Been here for many years now, so a change makes sense. But also, I've got the sailing sabbatical starting in a year or so and this job pays very well. So my original plan to stick it out might still happen - not all companies would want to take someone on who then wants a minimum of 3.5 months off around their 1 year tenure!

A fair few of my 2023 goals were hit in February, which was surprising! Especially a 10km PB! I was expecting, and training for, a PB during the race I've signed up to in May, but hitting it during one of my training runs was a really nice surprise. I thnk the glorious, warm-ish sunny day helped. And I was running to a cake shop So I think I should refresh that goal to a target time that is a few mins below my PB now.

I also achieved my deadlift goal!

My lodger also went away for a long weekend so I used this time to refresh the bathroom. Bath resealed, peeling ceiling repainted, changed the wall colours, gloss work, tidied up window sealant and gave everything a deep clean. I'm pleased with it - it's not perfect but it is looking good. I also got a new shower head that is supposed to help soften hard water and also boost pressure if your tap pressure isn't too good. So far, I like it!

Hiking holiday coming up in a week or so, which will be nice to get a break. Even if it will be physically fairly full on! It is in snowy mountains so I am hoping for beautiful views and idyllic sauna/hot-tubs in the evening to relax my weary muscles!

2023 goals update:
Finance:

• Pay off my student loan - Done!  
• Save £6k towards sailing sabbatical (£2,100/£6k)
• Pay £13.5k off mortgage (inc savings offset) (~£3k/£13.5k)

House: No progress yet

• Finish dining room (aka, clear out the "DIY corner")
• Repaint bathroom ceiling & walls - Done!  
• Paint upstairs landing

Wellbeing:

• Cook 1 new recipe from my cookbooks per month (1/12)
• Read 24 books (5/24)

Health:

• Attain a 120kg deadlift - Done!  
• Run 1 mile per day on average (95/365 - ahead of schedule!)
• Run 5k PB
• Run 10k PB - Done!  
• Additional 10k goal - Run sub 1:05 

frankersBri

April update time!

Regular £300 OP gone into savings. Total OP for the year £1253.12, total in the offset savings account £3,617.78. Current mortgage balance including offsets is £156,321. 

March has been expensive. Hiking holiday was idyllic. Booked a couple of sailing weekends on my credit card as I need to be ensuring I keep my skills going ahead of next year's big trip. Plus some much needed clothes shopping, though I have been offloading little bits on Vinted for a bit of money coming back. 

I can clear the credit card so that's no problem, but has come out of savings. So April will be a month to be more frugal to put some of that money back into savings. Which should be ok - looking at what I have planned there's nothing too major in there.
Budget spreadsheet not looking super healthy and so that's my motivation to stop spending pennies and pounds!

2023 goals update:
Finance:

• Pay off my student loan - Done! 
• Save £6k towards sailing sabbatical (£925/£6k) - going backwards
• Pay £13.5k off mortgage (inc savings offset) (~£4k/£13.5k)

House: No progress yet

• Finish dining room (aka, clear out the "DIY corner")
• Repaint bathroom ceiling & walls - Done! 
• Paint upstairs landing

Wellbeing:

• Cook 1 new recipe from my cookbooks per month (1/12)
• Read 24 books (6/24)

Health:

• Attain a 120kg deadlift - Done! 
• Run 1 mile per day on average (155/365 - ahead of schedule!)
• Run 5k PB
• Run 10k PB - Done! 
• Additional 10k goal - Run sub 1:05 

MovingForwards

You're achieving goals and plans, which is the main thing. Still plenty of time to get your sabbatical money together; perhaps open a different account for some fun money to avoid the sabbatical yo-yoing.

Hope you're going to tell us what recipe you try, how it turns out and what you'd tweak when doing it again.

frankersBri

May update time!

Regular £300 OP gone into savings, plus £45.93 mainly from savings interest.
Total OP for the year £1599.05, total in the offset savings account £3,963.71. Current mortgage balance including offsets is £155,300. 

April was a good month; paid off my credit card, increased savings and had a good month generally. The first real days of spring were a revelation for my mood- it was like a cloud I wasn't aware that I had had been completely lifted. So I'm enjoying spring slowly arriving, but would love it to be a little warmer and drier! 

Two more months of paying for sailing, and then that £1k a month can be made to work towards my various savings goals. 

My First Direct regular saver matures on Saturday, so I need to remember to open a new one to get that 7% interest rate. Plus I'll get the interest on the £3,600 in there. Maybe I'll put that straight towards mortgage OP..

In other goals, I hit a new 10km PB! The race I have booked is in 2 weeks, so if I can pull out all of the stops and knock 68 more seconds off then I will hit my renewed 1:05 goal. Currently have a fair bit of knee pain though, so have had to take it easy. Rest is not easy; I tend to walk a few miles a day commuting and do either a run or a crossfit session. So frozen peas on the knee, ibuprofen and rest is very different!

Reading goal is progressing well, I've almost finished my 10th book of the year. My favourites have been The Salt Path by Raynor Winn and I Am Not Sidney Poitier by Percival Everett. 

DIY/house goals not progressing so well.. Though in a few evenings this week the "DIY corner" should get a good tidy/thin out!

Thanks for reading, I hope everyone is well!

2023 goals update:
Finance:

• Pay off my student loan - Done! 
• Save £6k towards sailing sabbatical (£3k/£6k) - Boosted this back up
• Pay £13.5k off mortgage (inc savings offset) (~£5k/£13.5k)

House: No progress yet

• Finish dining room (aka, clear out the "DIY corner")
• Repaint bathroom ceiling & walls - Done! 
• Paint upstairs landing

Wellbeing:

• Cook 1 new recipe from my cookbooks per month (2/12)
• Read 24 books (9/24)

Health:

• Attain a 120kg deadlift - Done! 
• Run 1 mile per day on average (155/365 - ahead of schedule!)
• Run 5k PB
• Run 10k PB - Done! 
• Additional 10k goal - Run sub 1:05 

frankersBri

MovingForwards said:

Hope you're going to tell us what recipe you try, how it turns out and what you'd tweak when doing it again.

I tried a new recipe last night, though not from my cookbooks! 
Red onion tart tatin. I had wanted to make one for ages but needed a frying pan that could go in the oven. One of my christmas gifts was acast iron frying pan, so I finally seasoned it and put it to use. And mygosh, it was delicious! 

Melt butter, arrange wedges of red onion in a circular pattern and cook on low for about 15 minutes as they start to caramelise. Add 2 tbsp balsamic vinegar and sprinkle over brown sugar (recipe said 30g but I didn't measure..). Cook for about 8 minutes on a medium/low temperature as it caramelises some more. 

Lay a circle of puff pastry (shop bought this time) on top and press down into the sides. Use a fork to put holes all over. Pop into an oven at 180 fan for 20-25 mins until golden and puffed up. Remove from oven and leave in pan or 5 mins to let the glaze cool a little. Put a plate on top & turn upside down. Leave again for a couple of minutes and then remove the pan. And voila, a delicious sweet onion tart!

I made a simple salsa verde to go with it, using stuff I had in the fridge. Spinach, garlic cloves, sunflower seeds, oil, salt and pepper. Yummy!

Jessy103

That sounds delicious, will have to give it a try. Thanks for sharing

Sistergold

Oh @frankersBri you are making tremendous progress with your goals! Keep it up!