Mrs S…on the road to financial freedom

124

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  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    The transfer of deeds has been completed (I paid £3 for a copy of the title register as I was really hoping it had been sorted). That means that the house is all in my name (and the bank 🙄😂).

    Each month once the mortgage payment has gone out and the interest added (usually by the 3rd unless it’s a weekend/bank hol) I will decide what that month’s overpayment will be by aiming to round it down to the nearest £100. Obviously if I can pay off more some months then that’s a bonus.

    I’ve got a food shop due to be delivered on Tuesday morning which will need to last 9 days so I’m budgeting £90 for that. My boys will me with me for the majority of that time so it will be for the 3 of us. 

    I’ve paid off the clarity card in full using money I had put aside for the holiday. I need to pay off the Tesco Credit Card too and I will need to dip into savings for that (a few holiday things that were paid for in the UK were added to that). I am waiting until after the next Premium Bonds draw to withdraw it just in case I happen to win something.

    I’ve had a quiet weekend as they boys have been with their dad. They’ll be back here this evening. I went out for food with a couple of friends Friday evening but drove so the whole evening cost just under £20! I’ve stayed in the rest of the weekend and today I plan to finish sorting out and tidying up. Downstairs is looking clean and tidy once again but I need to put away all the clothes we wore on holiday and I want to change the boys’ beds (I did mine a couple of days ago).
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • savingholmes
    savingholmes Posts: 27,270 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Have a lovely weekend.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    I had my food delivery yesterday which is to last for 9 days. I had budgeted £90 and spent £82. I did have a couple of bigger items in there including a bottle of port, a big pack of toilet paper and 2 of the Christmas chocolate tins. I’ve put the chocolates away for Christmas (I do this every year and am pretty good at not touching them until Christmas!). I did have money left from last week in the pot so I’m going to move £14 out and split it between the mortgage overpayment and 2 other pots. It means only a small amount in each pot, but I’m really happy that I have money leftover each week. Up until July I was massively overspending on food each month.

    It’s payday today so I have moved money around the right accounts. My sinking funds are building up nicely though my boys have an optician’s appointment this weekend so a good chance of a small hit on them then. My youngest wears glasses and I have always allowed him to choose whichever glasses he likes rather than making him wear the NHS ones. I’m fortunate to be in that situation, and it’s important to me that he feels happy with what he has to wear. They’re not usually very expensive, but I do also pay extra to get his lenses thinned down as the eyesight in one eye in particular is quite poor. We’re currently waiting on a hospital referral for him for this. 

    I am going to pay money into the dinner money account today too for September. The Summer holidays have flown by this year (I probably say that every year). I have the day off work today (was told to do as little as possible this week as I still have the boys home and the next 4 weeks will be another level busy). I think I’m going to take the boys for a long walk somewhere which we haven’t done enough of this Summer between everything.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • savingholmes
    savingholmes Posts: 27,270 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Sounds like you are doing well.

    Have fun 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    My mortgage payment and interest for September have gone in/out so my goal for overpaying this month is £37.88 which will round the mortgage down to £104,300. That should be easily achievable and hopefully I’ll manage a little more. I have sent £5 to the mortgage this morning so just another £32.88 to find during September.

    My boys picked loads of apples from our apple tree a couple of days back so I’m aiming to stew them today and then freeze ready for Winter crumbles. My ex also brought round some rhubarb from his parents garden so will do the same for that. I did it with rhubarb last year too and froze in portions. We ended up having rhubarb crumble for Christmas Day pudding (I think it’s my favourite pudding!) which was cheaper than buying in expensive but just because it’s Christmas desserts!

    I’m hoping for a quiet ish weekend before the boys go back to school on Monday. We’ve got a few chores to do in town but otherwise we haven‘t got much planned. I hope everyone has a great weekend.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • savingholmes
    savingholmes Posts: 27,270 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Home made crumble is fab.

    Well done on the OP.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    It’s food delivery day today which means I sent the leftover from last week’s food budget over to the mortgage. That’s £9.93 gone today which means just another £22.95 to find during September to meet this month’s overpayment goal. I don’t think I’ll have much leftover from the food budget after today’s shop though for next week’s overpayment. 

    The boys are back in school so routine has kicked back in which I like. My work hours have increased to full time (I’m looking forward to getting paid at the end of the month to see this!). The boys are with their dad this weekend. I’m going out tonight, but it will be a cheap one. Just meeting for a drink, and it will be a soft drink as I’m driving. I think I mentioned before I’d started dating someone new. Well, that didn’t last long at all (all good though and we kept in touch for a little while) but I’ve met someone else. It’s early days, but we have just clicked and he’s lovely. When I separated from my ex I did worry that I’d be forever single and not meet anyone so this is all a bit surprising but great.

    I hope everyone has a great Thursday 😊
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    I just about reached my mortgage overpayment goal for September as I had a small mileage for work so sent it all to the mortgage. I overpaid £41.93 in September (my goal was £37.88). That makes my overpayment total since July £180.41. My mortgage balance when I remortgaged in July was £105,000 and today is £104,295.95. I’ll work out my overpayment goal for October once the next payment has gone out and the interest has been added.

    I didn’t watch my spending as closely during September so I need to keep a better eye during October. This week’s food shop came to £65, out of my £70 budget so not doing too badly sticking with that. I was paid today so I’ve topped up my accounts and sinking funds. I have transferred the money for my children’s school dinners for October into their dinner money account. My youngest should be receiving free school means from April at the latest as part of the initiative in Wales that every Primary school child will get a free lunch. By the time it reaches my eldest he’ll probably be in Secondary School.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    Over 2 months since my last update. During that time my divorce came through, I overspent at Christmas (as always 🙄) and had to move some money from savings, though thankfully not much at all. I had a goal of reaching £300 of mortgage payments by the end of the year but didn’t quite make it. My overpayment total from July to the end of the year was £279.58. However I’ve made a few overpayments this month so have now reached £321.41. My aim is to overpay the equivalent of a month every year (£452.23) so want to overpay another £130.82 by the end of June.

    I had a dentist appointment around Christmas and needed a filling. I have added a pot to my Monzo account for that as I’m having it at at the end of February. I put money aside each month for my checkup so that was covered. 

    I’m still sticking to my £10 a day food budget. Most weeks I have a little left over, though nothing this week sadly. My youngest now has free school meals as he’s in the Early Years and we’re in Wales. I still have to pay for my eldest but that’s a nice little help not having to pay that.

    I’ve been with my ‘new’ oh for 5 months now and it’s going really well. Thankfully he agrees with my money saving ways and we both decided over the weekend that Valentine’s gifts were just a money making scheme! We’re going to get each other a card but not a gift and just spend time in each other’s company. It falls on a day that we wouldn’t usually spend together so it will be a little treat to see each other. 

    I was just looking at my signature (which I’ll update after posting this), and other than the mortgage I will have been debt free for 5 years at the start of next month 😁
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
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