Aiming for Mortgage Free!

rugbymadfamily

Haha I know that feeling @QueenJess it's been slow progress with my husband lol.

December is finally here and obviously have cracked straight into the advent calendar! 

Have been a bit naughty, bought some tickets for an event next year, not cheap and needs accommodation as well.....but it will be something we look forward to all year and enjoy. Means about £500 out of the EF as i have no other savings currently, but will only delay the full fund being built by 1 payday so all ok there. Next year I'll have an EF, holiday savings and general savings built up so won't need to raid the EF pot!

rugbymadfamily

Had a really enjoyable weekend, blew away some of the cobwebs I've been feeling in lockdown so that was great! Even managed to join a zoom call for cocktails from our homes....I've avoided these most of the time cos I just can't be bothered lol.

Been doing some more spreadsheet messing around (it's just such an easy way to pass time lol). Am aiming for 3% of the mortgage in OPs next year which is just over £10.5k....it will be a stretch. I've got £8.2k from overpayments included in the budget, so £2.3k to find from bonuses / payrises / extra work / further budgetary savings.....will see how we go. Even if we just hit the £8.2k that would be pretty good, but going for the stretch of £10.5k be even better! When I told husband that our OPs already have knocked 2.5 months off the mortgage he was very surprised so is fully on board. Ultimate aim is to pay it off before either of us turn 50, whereas original term finishes just before 60!

FtbDreaming

My target is 40 but my mortgage is tiny in comparison to yours. 3% of mine would be £2049... when I do it I’ll probably want to move on to a better area so won’t be truly mortgage free lol. 

Ooh good on you for booking tickets. We need things to look forward to. I think that’s been one of the most depressing parts of lockdown and the uncertainty is that there has been literally nothing to look forward to. 

I can’t wait until January to start all my new financial challenges. This year ended up going down like a lead balloon but I’m optimistic for 2021. 

rugbymadfamily

By 40 would be the dream, but I'd need to win the lottery lol. Good thing is, even if you move to a better area, if you've made overpayments on your first mortgage that will put you in a better financial place 😊

I agree about something to look forward to, so much been cancelled this year that it's nice to have something for next year!

I'm with you on new challenges starting next year, I'll have my pots fully operational! Only found MSE a few months ago and it has revolutionised my finances already!!!

rugbymadfamily

My gosh it's been a mental few weeks. Work has been incredibly stressful (the "B" word is causing chaos). But I've well and truly started the job hunt and there is lots out there, I would be very nervous starting somewhere while remote based, but I'm so fed up at current place that I will have to get over that!

Money wise, Christmas is on budget currently which is good. Food however is going over again, but entertainment is well under (as no where to go lol!). May have to re-jig the pots for the start of the new year, but overall pleased with the last 2 months of using them. I'm getting paid a few days early this month but nothing drastic (old job used to pay you at end of month normally but in Dec paid you the week before Xmas making it a very lon time to next payday!).

Couple more hours of work to do, then off for a run and making some yummy leek and potato soup this evening, it's a good hearty winter recipe 😊 nomnomnom

savingholmes

Caught up on your diary. Just wanting to wish you well on your journey. I wish I was as switched on at your age as you are. Even now - pensions I took out 26 years ago - are likely to save our bacon in our old age and help us repay our mortgage.

rugbymadfamily

Happy new year to all!

It's been a whirlwind last 2 weeks, was supposed to have some time off but unfortunately the 'B' word ruined most of it (my job involves lots of goods being bought from Europe). Managed to get a few days off in a row which was much needed. Also had some job interviews 🤞 so hopefully will start somewhere new as I seem to spend a lot of time complaining about job currently, so fresh start needed!

Money wise, ended the year well and in a better position than this time last year for which I feel very lucky given the on-going situation. Feel like I've got things together to keep us on track for some good saving and mortgage OPs next year as well having taken lots of MSE tips on board even just the few months I've been here. Aiming to finish saving the initial EF, some savings for a decent holiday pot (who knows when but at least the money will be there!) and general savings (potentially new kitchen at some point / house move - who knows lol).

Done some decorating over the holidays which has gone annoyingly overbudget, however looks even better than I had hoped so can't really complain. Husband has taken some good de-cluttering and put 5 things up for sale which I'm super pleased about as he has some hoarder tendencies!

2021 goals are:
- OP 3% of mortgage (£10.5k - this is going to be tough, reckon we can hit £8.5k without too much difficulty, but need to figure out how to get the extra £2k)
- hit £7k EF (should be in Feb)
- save into holiday pot and general savings pot on payday (I used to wait and see what was left at end of month to save...surprise surprise there was never anything!)
- move more! Have some specific goals here for myself about kms I want to do each week and just general movement which I've really struggled with WFH
- keep the pots system going as it's really revolutionised our finances!
- get a new job!
- keep working on my patience and general happy thoughts, I've been such a grumpy cow the last 3 months and I'm fed up of myself! Exercise and new job will likely help this 😊

savingholmes

Great goals. Good luck with them all

rugbymadfamily

Thanks @savingholmes....now to stick to them! I like yours in your signature. Reading yours reminded me of the other goal I had which was more sewing / jigsaw and less time on my phone in the evenings! I've added a summary of mine as a sticky on my mobile phone home screen to try help me with focus (I often forget these things otherwise!). Aiming for a 5km run at lunch today.....

rugbymadfamily

So didn't get the run in yesterday or today, but that's ok....had a job interview to prepare for. Felt like it went terribly, probably the toughest interview I have ever had. But the prep time I had was obviously well spent and it didn't go as badly as I thought, as I've made it through to the next steps!  Fingers crossed for the final steps 😊

No real excitement with finances, need to get a few NSDs in over the rest of the week. Did a food shop, ordered some stuff for the house to make lockdown 3.0 better and got a takeaway....must be better for rest of week which shouldn't be difficult as very little to spend on 😂