Pay off mortgage and start having even more fun 😁

newgirly
newgirly Forumite Posts: 8,750
Part of the Furniture 1,000 Posts Name Dropper Photogenic
Forumite
edited 1 January 2022 at 6:09PM in Mortgage-free wannabe
Finally after twelve years of part one of this diary it’s time for part two 😆

Heres part one, slightly lengthy now to say the least! https://forums.moneysavingexpert.com/discussion/2408201/pay-off-mortgage-and-start-having-fun/p1

So condensing 12 years into a few sentences….

I joined the mfw board in April 2010, with a pile of debts and a mortgage totalling £171,403 terrible considering the original mortgage before getting into debt was £93k 😱

Dh was shareholder in a company working for his best friend who sadly a few years later passed away, he then took over and over the next few years tried to keep it going. Unfortunately it’s a dying trade that needed a lot of investment. Anyway fastforward a bit and he now doesn’t own the company but manages it, but we do now own the premises (mortgage free) which is now rented to the company he works for, simple 😂  oh and dh has had a pay cut and I’ve been made redundant during the pandemic. 

Family has now grown up, our 24 year old dd has finally recently started her dream job which she’s been studying for for years. Our twin sons (21) are also both working full time, one in a great job he loves and one who is killing time really deciding what to do. We have two weddings this year, dd and ds2 who strangely are marrying a brother and sister 😆 weddings are booked and they are paying for it all with contributions from us to help. 

Back when I joined I was a sahm who would do just about anything to save money, as I’ve got older I have eased off a fair bit really 🙄 Now it’s not all about the mortgage, we want to get a bit more balance by travelling a bit now the kids are older (I had dd at 22 so we were young!) but I think I do need to keep that budget super tight again as spending on travel should not overflow into spending more on everything else or we will never be mortgage free! 

So this years start balance is £64,938 and the target for this year is to pay off £13k and over the next three years pay off a total of £40k. 



2022 MFW 67 - 33 month challenge to clear mortgage, month 12 completed and on track 🙂MFI3 No.12
«134567100

Comments

  • Jessy103
    Jessy103 Forumite Posts: 1,734
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    Forumite
    Happy New Year NG! Also, what SC said! X
    Mortgage Balance as of 01/01/23 £44,700 Starting Mortgage Balance (June 2019) £72,000 2023 Overpayment Challenge: Jan £235.93, Feb £370.68, Mar £269.08, Apr £354.95, May £166.49, Jun £161.23, Jul £364.57, Aug £459.08, Sept £711.21, Oct £825.54 Nov £317.84 Savings Target: £650/£1,200
  • killerpeaty
    killerpeaty Forumite Posts: 2,526
    Part of the Furniture 1,000 Posts Name Dropper
    Forumite
    Happy new year and new diary!
  • newgirly
    newgirly Forumite Posts: 8,750
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    I know greent, I should be called oldgirly now it’s been so long 😬 

    Slightly crazy plans seems par for the course SC, will try my best 😁 

    Popped to tesc@ first thing today and it was wonderfully empty, £141.50 spent from my shiny new £550 pm budget, however £100 of that was on 10x bottles of champagne on offer, I wanted to get some for the hen do pre drinks (would have said prinks but it’s soooo Essex 😂) and wedding related things that might require it before the big days. Not sure if I should count it as grocery shopping for the purposes of my tracking this year, probably not 🤔 it also needs to be hidden from dd who often leaves a visit with a bottle of Prosecco under her arm if she can! 

    Plans for tomorrow- move off of sofa, attempt to stick to calorie goals and at least 10k steps, do some washing, write new bucket list 😬 The last one I did was probably 3/4 completed when I posted it back around 2014 of 40 things I wanted to do when I turned 40. I think this time I’ll just do a bucket list for 2022 , if it gets too exotic and fancy it will never happen and I’ll forget what I planned. 
    2022 MFW 67 - 33 month challenge to clear mortgage, month 12 completed and on track 🙂MFI3 No.12
  • newgirly
    newgirly Forumite Posts: 8,750
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Found the old bucket list, more of this was ticked off than is shown 😁


    2022 MFW 67 - 33 month challenge to clear mortgage, month 12 completed and on track 🙂MFI3 No.12
  • newgirly
    newgirly Forumite Posts: 8,750
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Actually I think nearly all is done now, I think I missed eating chips on a pier, doing a puzzle, building a sand castle, making bunting and going for a picnic perhaps. 
    2022 MFW 67 - 33 month challenge to clear mortgage, month 12 completed and on track 🙂MFI3 No.12
  • Mrs_Money_Penny
    Mrs_Money_Penny Forumite Posts: 1,179
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Forumite
    Happy New Year and Happy New Diary xx
    £44752.79/savings £40892.30
  • themadvix
    themadvix Forumite Posts: 7,478
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Photogenic
    Forumite
    Happy New diary NG! Your kids were so little when you started your first one - where does the time go?!

    Lol at DD leaving with Prosecco if she can! Cheeky thing!
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • try_harder
    try_harder Forumite Posts: 1,515
    Eighth Anniversary 1,000 Posts Combo Breaker
    Forumite
    Another diary i always read and looking forward to this one too..
Meet your Ambassadors

Categories

  • All Categories
  • 340.2K Banking & Borrowing
  • 249.1K Reduce Debt & Boost Income
  • 448.3K Spending & Discounts
  • 232K Work, Benefits & Business
  • 603.2K Mortgages, Homes & Bills
  • 171.6K Life & Family
  • 245.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards