From Chaos to Clarity, and Mortgage Free, in 86 Months 💗

selloptape

Hi fellow MFWs,

A fresh diary for me as it's been a minute since I've hung out in my favourite corner of the forum! 

I've not been posting regularly (or at all recently) but I have been chipping away at my mortgage in my own disorganised fashion.

Since I moved in (9ish years ago) I've thrown all sorts at it - random lump sums, spurts of regular payments, first reducing the term but then switching to reducing the payment when I had a period of job insecurity, now back to reducing the term again. I've not done too badly with my haphazard method - Capital balance o/s has been reduced by 42% over the last 9 years (of what was originally a 30 year term) however the cost of living crisis is starting to bite now, and it's time to be more serious and methodical.

Hoping this diary will keep me accountable as I get my ducks in a row, and march them to the bank 

x

beanielou

Happy shiny new diary 

selloptape

Thank you beanielou 

And so it begins!

I've had a productive admin day, currently feeling positive:

• Reviewed mortgage deals for when mine expires in 2 months, chosen one but feel very conflicted. I can cancel up to two weeks before it starts if it looks like the wider situation will change so just going to hold tight until then.
• Reviewed savings account and changed to higher interest option
• Reviewed ISAs and saw a payment had been received via p2p IF ISA - requested this to pop towards an OP.
• Put in a claim for a health benefit.
• Put in expenses claim.
• Checked utilities and found one in credit by £500, have asked them to review and have agreed a lower figure plus to pause the payment for a few months.
• Went through my spending diary and bank app for the last few months. Found a few things that I will cut if COL continues to rise.

With all that, plus the 8 mile hike I went on earlier, I feel shattered now 😴

x

selloptape

Started to feel a little autumnal today which reminded me to order a new hot water bottle, and fleece blanket - I'm mainly working from home these days so hope these will keep me toasty and stop me popping the heating on too quickly over the next few weeks 🍂

Goals for September:

• Mortgage OP of £150
• £100 to S&S ISA
• Reduce grocery spend by £10 (easing myself into this one )
• Get house insurance quotes - use cashback site if changing provider
• Get car insurance quotes - use cashback site if changing provider

And stay upbeat and motivated as the days start to turn in 🙌 

x

Swayingseaweed

Some good goals for September. You've reminded me I need to sort out home insurance today.
Seaweed x

gillynomad

Good idea setting goals for the month - might take this as a sign to do some myself!

I got an electric blanket at the start of the year and it was one of the best things I did. I work from home so having the blanket meant I didn't need to put the heating on. Kinda wish I'd done it sooner as it was noticeable in my gas bill after I bought it. 

Good luck with the insurance quotes!

selloptape

Fleece blanket arrived today, and is currently being quality checked by the cat. Going to research electric blankets this eve as it might be a while before I can wrestle it back thanks for the tip Gillynomad.

Swayingseaweed

Love the fact that your cat is checking the quality of the blanket😂
Seaweed x 

selloptape

September is off to a positive start - £100 transferred to S&S ISA and invested. I'm itching to OP the mortgage too, but my bank gets very confused if I OP too near to the regular payment going out so I need to wait around ten days before doing this. 

The cat has also relinquished the fleece blanket so I have somewhere cosy to sit and meal plan later. Determined to get on top of the grocery spend - it's been sneaking up to £500 a month for just me and young adult DS (I'm embarrassed it's crept up so much! It doesn't even include DCat as she has a special medical diet   )

x

stuartp2000

Hi Selloptape.

looks an organised list so good luck, one option in the list on energy bills is to pay variable direct debit.
I started this when I was in credit and will this month pay my first payment, obviously only a good option if you can budget the expenditure and save over summer to balance the higher weekly amounts.

I do as prefer to have me in credit earning a little interest rather than the gas company.

I need to make a plan to overpay my mortgage but unsure as to speed as want to build an emergency fund as well.

Swayingseaweed

I always spend a lot on groceries even though we grow a lot of our own food. It's the one thing I need to curb. I did find meal planning did help especially if I built in some flexibility in as well
Seaweed x