I dream of a MF home for my plants

Idreamofplants

First time on here since April.  Life has been upside down with family issues and currently off work sick as have been feeling stressed.  Made OP in May and June totally £660. Not sure if will have any cash left this month. Have been spending a fortune on food and eating out.  Luckily I am still getting paid by work at the moment. Mortgage is due to go sub £160k next month. Lots of diaries to catch up on.

Idreamofplants

Today has been good.  Family came over for lunch and I mostly used up food we had in with the exception of a cherry pie which was £2 well spent.  Have started to look at our remortgage options as we can fix again over the next couple of months.  Wondering whether to go for a 5 year over a 2 year this time. Also not sure whether to keep the term at 11 years remaining and keep Oping or whether to reduce the term and commit to paying more each month.  It looks like our standard payment will be reducing just over £200 a month when the interest rate comes down.  Our costs will be changing quite a bit as we will have 2 children at Uni from Oct so the food bill will go down but we are going to have tutoring costs for the youngest as they are struggling loads with school work and my middle aged brain cannot follow most of what they are learning.  The biggest variable is I have no idea what I will be earning when I return to work. This is the main reason I've been keeping my head in the sand about my budget.  

Idreamofplants

Ok back on here for third day in a row so feeling a bit more ahead of things than I have for a while.  Still contemplating the new mortgage term - over 10 years will be about £1609 a month whilst over 11 years is about £1490 if we go for a 2 year fix.  There is a 3 year fix available with similar rates (3.94 as opposed to 3.86). I'm thinking possibly going for the 3 year as we will be paying an arrangement fee which is the same for both 2 and 3 year fixes.  The other option is to go for a 5 year fix but and this is a huge but, I just wonder if we could OP the whole thing within 5 years.  If we take out a 5 year fix is assuming this is not possible at the outset. There again within the next 5 years it is likely all 3 of the kids will have either completed/started Uni so unlikely we will have the cash spare to significantly OP consistently whilst they all need help to pay their rent. 
Planning on a cinema trip with DD today then a trip to the gym and library on the way back.  
Things to be grateful for today:
- getting time with my kids whilst I am off work
- Youngest has had a good few days at school after the worst time during June
- I have felt able to think about money the past couple of days so hopefully my head is out of the sand

Idreamofplants

How is it October already? I love this time of year.  OP another £400 last month and planning on remortgaging in the next couple of weeks. Still trying to decide on 2 or 5 year fix - will probably go for the 2 year and remain hopeful of a lottery win in the meanwhile. Have been spending lots on the kids, house, eating out whilst off work.  Looking forward to going back in a couple of weeks and getting back into a routine. 
things to be grateful for:
- feeling well enough to get back to work
- holiday paid for end of the month
- kids happy at Uni
- spends on the house all paid for - new bed and sofa arriving this week & paint bought ready to redecorate

Am planning on getting back on cash back sites this month and reducing coffees out. And posting on here OPs. 

Idreamofplants

Sorted the mortgage today £156k from next month on a 2 year fix with an 11 year term.  The monthly repayments are £200 less than currently so hoping OP in the region of £700 a month will be possible when I next get paid. I have a couple more weeks before I'm back at work and then my hours will be reduced slightly so hoping I cope better than I was before I went off sick.  So far this week I've had a few money wins.  I sold a couple of items on V*ntd that have been in the back of the coat cupboard for months.  Then got a refund for some decorating stuff I returned and a refund for some work on the car I'd paid for and isn't now needed.  I also have £200 ish from an insurance claim for one of the dogs due. 

grateful for:
- kids happy
- house warm
- feeling positive about work
- remortgage sorted and interest rate 1% less than last rate

Idreamofplants

I've had a pretty frugal couple of days. Lovely friend bought us a take out and a bottle of wine as a thank you on Thursday.  Yoga on Friday which is included in the gym membership.  OH is away with youngest so for the first time in at least 12 years I have been home alone for a couple of days.  It has been bliss.  Park run done this morning and then the only spends were a couple of coffees for myself and a friend, and then some cheese and crackers for tea. Claim from the pet insurance has cleared - hooray.  I have resisted spending on gym clothes that I don't need by just putting into my online shopping basket and not actually buying.  I have spent the time to myself today looking at different mortgage calculators.  I may take one of the mortgages early and pay a chunk off the mortgage with it next year. The interest saved on the mortgage offsets the penalty of taking it early - its a final salary defined benefits scheme.  If I take a £40k lump sum it will reduce the interest by £18, whereas a larger lump sum of £70 will make a £27k saving.  I am waiting for a forecast from the pension people to come through then I am going to invest in some proper advice to check my sums.

grateful for:
- kids being settled and happy at Uni
- lovely friend
- being able to run at park run this morning
- having some time to myself for a change this weekend - it has been more relaxing than going on holiday.  
- 2 weeks until payday and budget looking okay, will possibly make an OP if anything spare still next week
- car service money all tucked away in savings

Idreamofplants

I just reread my first post from May 2024 - small mortgage has one more payment and then will be gone! Approx £190 to clear which I can't send until the first week of Nov due to the fixed term but all budgeted to be gone

debtfreewannabe321

Idreamofplants said:

I just reread my first post from May 2024 - small mortgage has one more payment and then will be gone! Approx £190 to clear which I can't send until the first week of Nov due to the fixed term but all budgeted to be gone

Fantastic 👏🏻
You've paid loads off since your first post! 🙌🏻

Idreamofplants

thanks debtfreewannabe - it's good being able to look back and see progress as there is still quite a way to go.  Having a nice chill day today - took mum out for a coffee and scone this morning.  Total spends £11. Then did a long walk.  Contemplating popping to the gym in a bit.  Planning on sending some of pet insurance cash onto mortgage. DS needs some new trainers which me and OH are going halves on so need £55 for them.  Leaves £159 for the mortgage OP or I could put all of the insurance in and then find the trainer money from money I think I will have left over this month.  Trainers need their own savings pot the amount I seem to spend on them both for DS and myself. The rest of the day I have a new library book to get stuck into & dogs to take for a walk.  

Idreamofplants

Pay day was Friday and I worked on a budget so I could OP £700 this month.  Then OHs car broke down so may need to dip into this - won't know until after the car is seen by a mechanic on 3rd.  We are away for half term for a few days. The accommodation is self catering so I managed to get a food box from a delivery company with 8 meals for £30.  We had the first meal tonight and it was pretty good - not worth the full price cost of over £50 but definitely worth £30.  It is a 5 week pay month so need to be really on top of budgeting this month.  DD seems to be struggling to manage on the money we send for food so plan on taking her a massive food parcel at the weekend and having a proper talk to her about how they are getting on.  Had a pretty frugal weekend.  Bought a few cheap bits from HB for Xmas (is it too soon to mention it?? possibly). Total spend £16.  Finding it hard to get the mortgage OP on track as each month something seems to come up.  Fingers crossed for the car to be a cheap fix!