plodding along one step at a time

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I've decided a new diary is needed to refocus my mind on getting this mortgage paid off as quick as possible. Checked the mortgage balance this morning and it currently stands at £60,568,56 and has 14 yrs and 8 months to go. Our current mortgage deal ends 31/3/2024, I dread to think what the interest rates will be like then, so I want, no I need to get the amount owed down as much as possible by then. These last couple of months we've really took our eye of the frugal ball and have been regulary overspeading so much so that we've had to raid our savings several times in order to continue our overpayments. Looking at how much is going out on bills, food, petrol, eating out and other crap, we need to reel it in.
Eating out (£60 for 4 people x's 2 ) needs to be cut or need to eat cheaper when out.
Petrol has gone up a massive amount, so I need to look into the councils grant to help fund DD2 transport back and forward to college, we have emptied our cars of crap and keep an eye open for where petrol is the cheapest and fill up regularly as prices can rise over night by a couple of pence per litre. I'm using the electric bike more or at least I was until I wrenched my knee so relying on the car at the moment. We are limiting days out and trying to limit the distance if possible, we're also maximizing journeys too ie pharmacy on the way home from college, you get the picture.
Bills- well so you can tinker with some bills-such as subscriptons/donations/money to help family member -cancelled ( saved £100 a month), certain utilities- get the best deal by shopping around (saved £43) and others you just got to suck it up - council tax. We often sit in the dark to watch TV, although I think most of this is that we can't be bothered to get up and turn it on or we are using up our huge stash of candles. I'm constantly going around the house switching stuff off, especially with DD2 as she is constantly forgetting to switch her light off. Switching the oven off 10 minutes before its foods done and letting it cook in the residual heat. Using lids on saucepans and most useful thing I've found is using the oven timer, stops me forgetting how long stuff has been on for. I've also altered the spin cycle on my washing machine which hopefully is contributing to less energy use We had our energy bill recently and compared to last year we are using 1khw per day less electricity but paying more, not been able to put a dent in the amount of gas yet but I'm working on it.We are currently £85 in credit, normally I would reduce our DD but winter is coming and so are the price rises so will leave it this year to act as a buffer Water is been saved and cash too by using a bucket to flush the upstairs toilet with bath/shower water. Recieved  £20 from the water company as we are not using as much water. 
Food - Well you can't live without it, so its a case of maximising the allotment,  The allotment is contributing to most meals now and those that will be eaten in the future. We are having to plan and really maximise the space available to get as much food off the allotment. Although the birds got to the strwberrys and cherries before us this year, so netting will be needed next year. We've created a new strawberry bed and will need to get new runners as the old plants were about 5 years old and were'nt really producing anything. The hubbster has created a space for outdoor cucumbers next to the greenhouses, we usually grow them inside but due to the fantastic germinatin rate of the toms we have planted the houses up with 3 varieties. We have already started sowing and planting for winter!!!! The new raspberry bed is going well and hopefully there will be an abundance of raspberries in the autumn.  We are meal planning by shopping from the allotment and house first, visiting several supermarkets to get the best price and minimising waste. We've had a go at downbranding which has been fairly successful and only had a few that won't darken our doors again. It's generally taking me an entire afternoon to shop but some of the price differences have been huge, so worth it at the moment as they are generally in a 3 mile radius of home. My secret crumple button is sweets and chocolate and these have gone up alot. I've been spending if I'm honest nearly £5 a week on sweets to cope with the last dreadful 6 months, but I feel stronger now, so I'm on day 4 of no goodies. I'm hoping as I get used to the other supermarkets that I can get round quicker.
Other - well other was rather large last month , it mainly compromised of new plants for the allotment, one off annaul payments for the dog/ vechile recovery,clothes for DD2 who has had a growth spurt again and accupuncture. Other than the accupuncture which is now every 10 days the rest shouldn't be in next months list.
Anyway after that ramble the aim for this next month is not to raid the savings to keep the overpayments going and to try to absorb the ongoing price rises. Maybe and this is a long shot in the future I can increase the overpayments, but for now its got to stay the same. Hoping that by posting on a more postive diary I can keep focused and feel more positve about the future.
Take care 
CRx 
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Comments

  • Cornish_mum
    Cornish_mum Posts: 635 Forumite
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    Your allotment sounds fantastic! Very impressive, on the shopping around too CM
  • the_cross_rabbit
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    Visited the allotment and it provided most of tea. We had salad made up of lettuce, broad beans, new potatoes, beetroot, peas,mangetout, spring onions and rhubarb for pudding. Gave everything a good watering, chased the blackbirds out the fruit area and patched up the holes to stop them helping themselves to the red currants. 
    Hoping to pop up tomorrow to get the last of the pumpkins in, if I can find space. Everything is growing really well, concerned with the up and coming heatwave though. Hopefully everything will cope.
    SHort trip to the supermarket, decide that because my knee was bothering me, I was only going to do a 1 supermarket shop and not hunt around the others today, spent£16.73 , so not bad as it’s my first shop of the week, other spends was prescription.
    Miss giddychops has gone to my dad’s whilst we are away. House felt very empty without her tonight. He’s been given strict instructions not to walk her in the heat as she’ll not cope.
    Other than that not a lot happened at the burrow today.
    CRx
  • ManekiNeko
    ManekiNeko Posts: 238 Forumite
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    Hi CR, following as we have similar sized mortgages, mine is £68,499 fixed until 2029. I agree with you about the risk of interest rate rises, I have heard stories from relatives about the late 80s/early 90s when rates hit credit card type highs. Hopefully we won't see that again this time, and rates will stabilise rather than continuing to rise, but with inflation running so hot and me being on a fixed income I'm feeling cautious. I'm guessing you've priced up the ERC to fix again now vs. waiting until 2024?

    Knees are complicated things and can take forever to heal up. I'm glad you just went to one shop - definitely give yourself time to heal, your health is worth an extra few pounds on the shop any day of the week.

    As a long-time lurker but still relative newbie to these boards, who is miss giddychops?
    Completed on first home: 30 June 2022
    Mortgage outstanding: £68,499 £64,841.60
    OPs made or saved (2022-23): £315.52
    OPs made or saved (2023-24): £690.24
    OPs made or saved (cumulative): £1,005.76 (1.47%)
    Interest saved to date: £ *to add*
    % of mortgage paid off: 5.34%
    MF date: June 2056 October 2055
    Daily interest costs: £3.10 £2.90 and a half pence (as of 12.02.2024)
    Emergency fund: £0
    Debt to DS: £10,000 £7,209.01. 27.91% repaid (DFD: Aug 2027 Nov 2030)
    Debt to DP: £1,423.55 (this will increase until DS repaid)
    Debt to non-profit: £4,500 £4,239. 5.8% repaid


  • the_cross_rabbit
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    Miss giddychops is our 10 year old dog, she thinks she’s still a puppy.
  • ManekiNeko
    ManekiNeko Posts: 238 Forumite
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    Aw bless her. Dogs are the best
    Completed on first home: 30 June 2022
    Mortgage outstanding: £68,499 £64,841.60
    OPs made or saved (2022-23): £315.52
    OPs made or saved (2023-24): £690.24
    OPs made or saved (cumulative): £1,005.76 (1.47%)
    Interest saved to date: £ *to add*
    % of mortgage paid off: 5.34%
    MF date: June 2056 October 2055
    Daily interest costs: £3.10 £2.90 and a half pence (as of 12.02.2024)
    Emergency fund: £0
    Debt to DS: £10,000 £7,209.01. 27.91% repaid (DFD: Aug 2027 Nov 2030)
    Debt to DP: £1,423.55 (this will increase until DS repaid)
    Debt to non-profit: £4,500 £4,239. 5.8% repaid


  • the_cross_rabbit
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    Had a fairly sedate day at home. Just pottered really with plenty of breaks. Knee is aching now but not as bad as yesterday. Mum has been and got me 2 knee support bandages for the up and coming full on week. Dad came over for lunch as I had to wait in for the wheelchair people to come and sort out DD2 chair. They are coming tomorrow now, the less said  about it the better. Anyway the house is tidy, soup is made using leeks I’d frozen last year and new potatoes. Managed to make a maple syrup soaked citrus and almond cake as well, which will help to use up the yoghurt (served with) that is lurking in fridge. 
    Stay safe in the sun everyone over the weekend.
    CRx
  • ManekiNeko
    ManekiNeko Posts: 238 Forumite
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    That cake sounds divine, I've never tried to bake with maple syrup. Well done on the using up.
    Completed on first home: 30 June 2022
    Mortgage outstanding: £68,499 £64,841.60
    OPs made or saved (2022-23): £315.52
    OPs made or saved (2023-24): £690.24
    OPs made or saved (cumulative): £1,005.76 (1.47%)
    Interest saved to date: £ *to add*
    % of mortgage paid off: 5.34%
    MF date: June 2056 October 2055
    Daily interest costs: £3.10 £2.90 and a half pence (as of 12.02.2024)
    Emergency fund: £0
    Debt to DS: £10,000 £7,209.01. 27.91% repaid (DFD: Aug 2027 Nov 2030)
    Debt to DP: £1,423.55 (this will increase until DS repaid)
    Debt to non-profit: £4,500 £4,239. 5.8% repaid


  • southern_chick
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    I’ve subscribed as our mortgages are almost the same. I owe about £500 more than you. I’m on a fixed rate for another 3 years. At the moment I try and over pay the interest each month so my monthly payment actually comes off the capital. It’s really tough as I’m no my own so only one income and working for the NHS not on a high wage. I’ll be cheering you on and wishing you well xx
    slowly working towards being MF one small over payment at a time :T
  • savingholmes
    savingholmes Posts: 27,594 Forumite
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    Just wishing you good luck on your journey. Allotment sounds great too 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 236 payments to go - now £183,036 Equity 26.8%
    2) Spend on handyman & external building works & new patio door £12.65K
    3) CC £4.6K on 0% spends card but offset by £33.8K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.2K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • the_cross_rabbit
    Options
    We are currently away, and so far I’ve seen the inside of the chalet, the outside of the chalet, the local Tesco ( used dd2 wheelchair to get round, managed to not knock anything/anyone  over), and about 100m’s from the chalet due to knee🤣. The hubbster says he’s going to drive me the 300m to the beach today🤣, I’m not sure how I’m going to get on the beach as any pressure is very painful anyway we’ll see. Should of gone with my gut and stayed at home, as at least I would of got a decent night sleep. Enjoying the sunshine and my book. 
    CRx
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