Constantly confused, often befuddled

Aimingforthegoodlife
Aimingforthegoodlife Posts: 480
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edited 12 February 2022 at 10:21AM in Mortgage-free wannabe
I think my title sums up my brain regarding everything at the moment! I was here many years ago under another name, and have decided to wander back in. I am not really sure where I fit at the moment, when I first joined, smashing the mortgage down to get a better LTV was my one and only goal, we had 0% debts and these weren't a huge concern. We made really good inroads, smashed the goals and life carried on. Over the last couple of years life has been confusing, exhausting and there has been some changes. We have debt (at 0% and a loan that I have already paid off the set interest for), and we are still overpaying the mortgage at £50 a month. Part of me feels I should be on the debt free board, but I think I would be a fraud over there as they are incredible and I am still working on not being as spendy!

So I think, that maybe, perhaps, this board may fit my needs! In my head, I am wanting to get our savings up over the next year, whilst paying a to be determined amount off the debts, and looking at throwing a little extra moolah at the mortgage if possible! Whilst also going on some holidays, doing house stuff and getting some rest in there! Mortgage free has always been a burning desire in me, so even though it has taken more a back seat, it is still very important to me. Feel free to follow if you don't mind a changeable mind and plan :smiley:  
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  • Aimingforthegoodlife
    Aimingforthegoodlife Posts: 480
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    edited 12 February 2022 at 10:50AM
    Back when I was here previously, hubby and I both had good wages coming in which made paying down the mortgage much more manageable. During the pandemic, hubby had a horrid time at work and we decided it was much better to earn less and be happier. We paid off our car debt and reduced mortgages OP's which covered the loss of wages a month meaning we didn't feel the loss of income as much.

    We own both our cars outright, I paid £800 for mine a year and a half ago, MOT due March 2022 so everything crossed! 

    I got a loan at 4.9% in August 2020 and credit card at 0% spends for 20months to pay for bariatric surgery in Jan 2021. Long story short, it was cancelled, I paid off the credit card but the floor in our lounge was crumbling. The screed wasn't the right depth causing a weakness, we paid a builder to sort the floor, bought tiles and got a tiler in to tile it all. £2500 spent- ended up needing two builders for reasons I can't think about without getting cross!

    We then spent £2500 on a large pergola with a plastic roof, it is an amazing space, perfect for the dogs, we have a great space to sit and enjoy the outdoors- the heavy rain sounds incredible- little dog loves it, he spends hours sat out there on his bed.

    Loan was spent, interest was added at the start of the loan, so I had already paid it off and am now just knocking off capital every month.

    I booked holidays before the pandemic, moved them, cancelled again and got money back. We spent 11days touring Ireland last Sept/Oct and it was one of the best holidays we have ever had. Beautiful!

    My biggest expense over the next two years is holidays. I booked Venice for £550 for 2- postponed as hubby felt he didn't want to get on a plane yet, so this will be Budapest next year- £120 added to cost. This has been paid off. 

    Family wedding a few hours away coming up, biggest cost is dog care, but we wouldn't have it any other way. We are spending a few days visiting family, really looking forward to this.

    Booked Kos for my birthday £770 all inclusive for the two of us. Cannot wait! All paid.

    Kiev and Chernobyl visit in Oct £1019 including breakfast- popped this on 0% card.

    Wedding in New York in Sept- moved from 2020 but only got the new date after other hols had been booked! We have tickets for all the attractions bought in 2019 which means no extra expense, we have $1400 left from a previous america trip. All left to pay is dog care, hotel and flights popped on to credit card £2000.

    Florida Sept 2023 £2400 on credit card. Disney tickets on buy now pay later- I expect they will go up in price and we got 14 days for the price of 7. This is going to be costly!

    I rewrote this section as I think I lost my way in the first post! My goal this year is to not go into anymore debt and work on savings!


  • Mortgage Feb 2022:

     £138,888.63

    We have paid off £467.30 off the capital in the last month, our set payment is £666.72 (which I do love!) and we OP by £50 a month. I would like to try and raise £500 extra over this year to knock a little chunk off, it is nice that we have continued to OP after changes to our income, but a little extra would feel so good! Daily interest is over £8!
  • powerspowers
    powerspowers Posts: 1,100
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    Welcome to the board! 

    Sounds like you’ve got a lot planned in the next year or so! Budapest is lovely and definitely more MSE than Venice (which is lovely but expensive!)

    I’ve found the Challenges on this board useful to give me a target and you’re not to late to join. £500 off the mortgage is a nice realistic target that you should make if you continue the £50 OPs. Do you have a plan for paying off the interest free cards? 
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £500/ £3,600


  • Hello and welcome back. Trying to figure out if I knew you under your other name on here. 

    By the sounds of it you’re well on the ball with debt repayment and OPs. Will subscribe to follow you. 
    DFW (08/08) £64,346.53 Gone (02/19)
    MFW (08/08) £118k Gone (09/23)
  • Hi powerspowers, thank you for popping in! I am glad to hear Budapest is lovely and of course more affordable whilst there is a definite bonus! Ah, the credit cards, this is where I would be booted from DFW boards, they are 0% for 18months, we will pay minimum which is £55 a month, meaning we will pay off £990 in that time, to be expected from minimum payments! We are really good at tarting our cards, we have three credit cards and have offers constantly on them, so we do pay a fee- usually 1.5% (most recent cost and similar to previous years tarting!!) and move it onto a 0% transfer card. I have no doubt in 18months we will be able to tart these again, so paying them off isn't a priority at the moment...am I going to MSE hell for saying that?! I am thinking the £500 will be on top of the OP, but need to be realistic about what being crazy and booking so many holidays means for priorities!

    Hey DFOD I was Jodles, I haven't been around for a few years and thought I would start again! Thanks so much for the follow, I am not a typical board member as I want my cake and to eat it!haha. So my journey will be very slow I think!

    :smiley:
  • powerspowers
    powerspowers Posts: 1,100
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    Lol at money saving hell 😂 

    no judgement here and it sounds like things under control 😀
    MFW 2021 #76 £5,145
    MFW 2022 #27 £5,300 
    MFW 2023 #27 £2,000
    MFW 2024 #27 £500/ £3,600


  • Haha, I do feel like I am naughty being in debt and not panicking or paying it down first, I am conflicted, as my diary title says, this is normal state for me! It is weird as part of me is blase about the 0% and impending holiday money, and every now and then another part of me is screaming about how much it all costs! I want to focus on bringing up my EF I think, make sure I have enough to pay the hols, save some OP for mortgage and house fund! No short task really and a little scary when I write it down :smile: Once I have managed these bits and pieces then I will look at debt with more focus!
  • We have decided to buy our Disney tickets (Sept 2023) via ATD, we have used them before and they are great, we have full cancellation at any time and can alter dates as needed. We got the 14day pass for the price of 7 (still super expensive). When isn't Disney? We figured they are likely to go up in cost by next year, as why wouldn't they?? Even since we went in 2019- we actually only went to Disney one day park hopper- the tickets were about £50 less per person. When we went in 2019 we did Universal which was incredible, so this time we want to go back and do Disney properly. We have decided to spread the payments as there is no charge and we have to ensure they are paid off 7 weeks before we fly. 

    Cost: £1078

    I paid £50 deposit yesterday from what was left in my account, today was pay day and it was a 5 week month so a nice pay! So I sent over another £100. This is my plan, I am thinking of asking to do an extra shift a month, I could do more but dog care needs increase and I also find work very tiring!haha. Then my extra earnings can go towards the holidays- I know an estimate of what we need by Sept 2023 to ensure we have all we need financially for the holidays, once this is reached I can start to aim money to other places. Promised hubby I will curve my holiday desires after these ones! Though to be fair, two of the holidays this year are his families weddings :lol:

    Paid: £150
    Left: 928
  • The only issue I have with my holiday budget is rough costings of things, I know how much we pay for the doggies to be cared for at home- it is expensive but worth it, they are old and rescued, they need lots of TLC! It is approximates on hotels and parkings at the airport, car hire (too soon to book some of the places now) etc, so I am hoping I will be over budgeting for all these things and will be pleasantly surprised when it comes down to it.

    I am working on building up my personal savings, I like to have £2000, this covers gifts but also at least a month of bills if I needed to find a new job. I am up to £1600 now which is nice. 

    I am going to be creating imaginary pots for: Holidays, Mortgage OPs, EF building, House pot. I have multiple scribblings on pieces of paper about my pots and ideas and plans going forward! There is some method in my madness, I will also be playing around with ideas of debt payments!
  • So heres an idea of my debt (and hubbys is included as mine):

    M&S loan: £3606
    CC- £5516.44
    Dentist: £830
    Disney: £928

    M&S interest was included in the loan so has been paid off already, this is £120.20 a month, I have 30 months left.

    CC- This includes the 1.5% fee to transfer, it is 0% for 18months, Iknow we will be able to tart this to one of our other cards at 0% for x months with small fee. £55.72 a month

    Dentist: This is 0% and I felt it was nicer to take out a loan for 0% for something that is going to be painful! £77 a month

    Disney: As discussed on another post, this is a buy now pay later thing, just needs paying 7 weeks before we go (Sept 2023), I am aiming to pay off £100 a month

    Plans for today include:
    • Ordering gas- we have bottled as no mains, this is £120 for two bottles and doesn't last long at all! We are conservative in our use, so it lasts longer than others we know with it!
    • Booking dental app- I am terrified, which is why I need work doing, avoidance doesn't fix teeth! 
    • Sort out food for work, I am in the next three days and do 12 hour shifts so I try to help myself out by taking all meals with me!
    Annual leave coming up and I am so ready. :smile:
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