Snug & Sorted: Our Race to Mortgage Freedom

kaycastle

Thank you @debtfreewannabe321

Its so hard when there is lots to do isn't there! I tried to pick a house with no work to do but there has been some fun surprises like broken boiler etc. Your post has reminded me that its a marathon and not a sprint.

I'm going to do exactly this - I just did the mortgage overpayment calculator at £200 per month and which saves me £60k interest and pays back 6 years and 5 months earlier which is really good. 

And I do want to try to match that in the ISA as well. 

Our monthly income is £5300+ and mortgage is £1512 so think it would be rather bad if I can't manage £400 out of that to paying our future selves.

Must sort out budget though - my brain is very fuzzy from flu so I'm doing a lot of staring at the spreadsheet haha

South_coast

Awww, don't feel disheartened ❤️! I'd argue that when you're feeling overwhelmed is the best time to try and attack the beast, as it will give you the feeling that you are trying to take control, however small. The £200/£200 sounds like an excellent plan 

Hope you feel better soon x

kaycastle

Because I know my brain is a little bit addled and can only stare at spreadsheet for so long, I've focused on taken some action at least:

• Set up a regular £200 overpayment 
• Once I've got confirmation of the new ISA account set up I'll set up a regular payment to that.

Once I've completed budget and assessment of spendings I'll see if it can be more.

I need to review house survey again for any possible house things still to do - I just know from last house that addressing anything is important so it doesn't cause issues for the future - I know there is a bit of a ventilation problem in loft that needs sorting.

My brave OH got up on ladders himself to clean the gutters and save us money. Although some people did steal ladders from our garden through a back gate at some point in the summer...thievery is so bloody wrong.

LadyWithAPlan

The £200 OP each month sounds v doable and at least you know you are taking some action -?
the crazy level of interest I’d have to pay the bank  is also holding me back - especially as I am making 12 % on my deposit ! 

Sounds like your dream house is worth it though 

YNAB (you need a budget) made  me really see where I was spending pointlessly instead of using for the house deposit- maybe check it out -— I am surprised how much of a difference to my spending patterns having immediate easy reports and seeing where I am overspending vs my own targets - no faffing with excel etc and all bank connected 
 there is a 34 day free trial and suggest you watch the Nick True YNAB YT videos on set up first 
I have a referral code if you want to  DM
me that if you then sign up for YNAB we both get a month free 

kaycastle

South_coast said:

Awww, don't feel disheartened ❤️! I'd argue that when you're feeling overwhelmed is the best time to try and attack the beast, as it will give you the feeling that you are trying to take control, however small. The £200/£200 sounds like an excellent plan 

Hope you feel better soon x

Thank you x

And it does feel good by making a start. Just made the bank -60k worse off. I'm sure will be able to increase that over the years.

kaycastle

I'm going to keep a spending diary on here. I thought that will mean I have to spend at least 5 minutes every day thinking about these things.

Today I'm finally feeling a lot better, still ill but functioning ill. We are going to visit a country park where only have to pay for parking. We will likely get cake as well but guess will see in the diary at the end of the day.

Just cooking up bacon roll to start the day strong!! 😋 

kaycastle

Spending Diary: Day 1 Oct 31st 2024
I wish the first day hadn't been such a spendy day...this is going to seem very not MSE. This is not the norm I don't think!!

£48.05: Big lunch out, so much so I can't fit in any dinner tonight. I let my flu ridden body do the choosing and feasted...so much veg and warmth...
£13.50: Country park parking for a few hours.
£10.47: 2 Christmas presents and a sympathy card. I like to start chipping away at Christmas early.
£66.35: Petrol 

Total spend: £138.37
Want spending: £72.02

And its not over yet... we also went on a steam train at the country park which cost hasn't shown up yet but was at least £10 and the family have just had to nip across the road for bin bags. 

I did go into a hobbycraft and resisted buying anything though...think that's an achievement. 

South_coast

Well at least you won't need dinner 🤣

kaycastle

 Oh yes I was practically saving money doing my best impression of a bear before hibernation @South_coast

oh gosh it was a pretty bad example of a day from a budgeting perspective. I'm determined today will be more frugal fun 😁 

kaycastle

This a photo of a pair of tweezers on the hob. I had to take this photo because it just so perfectly summarises what life is like with 2 children...my toddler and my OH. I'm being a bit harsh with this as he is good but wish he'd step up a bit more.

How cometh the tweezers to the hob...well I have the answer...

Earlier my OH told me he had a splinter he had tried and failed to get out with tweezers.

So yes these are tweezers with biological bits on left on my hob.

My kitchen and house are a mess after my flu as I'm apparently the only one who has some basic standards. I'm certain the reason behind my meal splurge yesterday was because I was so deprived of vegetables from OH cooking constantly of just sausages and potato's or pasta that the first meal with veg I saw I splurged!

I try to laugh a bit but it gets really frustrating. I have tried for the past 10 years with open communication to change it and it just works for a week then goes back go normal. It's so infuriating and more tiring now there is a child.

I'm making him sound awful but he really isn't, if I ask him to do something and give instructions, he does it happily, without delay and his great at DIY. I just wish I didn't have to ask and do all the mind work.