our story

ernie_3

Hi to all, this is my 1st thread , i have been an avid reader and had MSE on my favourites for a year.

I live in plymouth with my "angel maid" we have been together for 21 years married since 1990. We have another 2 younger "angel maids" 15 and 13.

We got our first flat in 1988 and then moved to a 2 bed terrace in 1992 and then settled in our present house in 1994.

Like most of the poeple in the 1980's we had 3 endowments running on all 3 properties. Then the endowment fiasco started, we were getting letters saying that the endowments were going to short fall of the amount of £65,000. These companies then had the brass neck to ask to make extra payments to meet the amount.."yeah right"

So we decided in september 2002 to go complete repayment on £65,000

cashed in endowments £11,000.{poeple thought we were mad..live for today and all that}
compensation for the above £1,500
made overpayements of £50 a month, more if i had done overtime
In august 2005 £10,000 from savings and proceeds of selling my 2 classic cars !! vw golf mk1 covertable and vw golf mk2 gti}..again people thought we were mad.. i must say that this was the advice from a friend who is a financial advisor to use this money as an overpayment.
In june 2007 £14,000 .... but all of a sudden poeple didnt think that we were mad...spooky that
In september 2007 balance £21,500 took out a 5 year fixed rate 6.09% with YBS..£343 a month with a £75 overpayment should see us mortgage free september 2012.
May 2008 current balance £18,800 {£1,000 fee to clear balance}
Current value £190,000 of house

This has been a team effort with the "angel maid" who has been an avid charity shopper for 12 years.She used to work in fashion and can spot bargins at 200m {eye sight like a sh/t house rat}.When it comes to shopping the wife is an avid LIDL shopper, she discovered them about 2 years ago and gets most of the food shopping there, she reckons she saves the family budget about 25%

Like other people on this forum i would of liked to pay it off quicker, but like other followers/readers we have growing family. We have to get the balance right, we have a motto "spend a bit...save a bit".

When we are mortgage free we want to get a VW TRANSPORTER T5 and convert it to a campervan and go touring in u.k. and then over to europe.

cant wait..to all of the readers/contributers thanks for the continuing "motivation"

Nala

Well done to you and your family Ernie 3

I did chuckle about your wife being a LIDL shopper. I've come across a lot of anti Lidl and Aldi snobbery.....I get laughed at and called tight if I try to suggest to a couple of my friends to shop there when they mention they are struggling with finances. I know a couple of families who are very wealthy, fly business class, and shop at Lidl...just cos you have £££££s doesn't mean you have to shop at Waitrose

You are doing a great job and seem to have a great balance with it all....you'll be mortgage free before you know it. Oh and good luck with the camper van.

We had ideas of travelling the world once we were mortgage free. Erm with a 15 & 12 year old we're now thinking university fees & rent for them both. Argghhhh lol Oh but you wait til they're both earning! Then we'll be spending their inheritance!

setmefree2

Well Done & Good luck:j:j:j It's always good to hear about successes. Keep posting on this thread and let us all know how your getting on.

abouttimetoo

Hi Ernie 3 :hello:

Good luck with your MFW journey. Have you thought about joining the 2008 MFW'ers - the thread is a sticky and run by bellsbells.

I agree with you and Nala about Lidl's. I work away a lot so don't get too much time to cook but I like to buy my fruit and vegtables from there. I also know that two of my local restaurants buy their produce from Lidl's and I have to say that the Lidl car park seems to contain far more 'flashy' cars than it did when it first opened - I think people are getting far more switched on to the outrageous prices that some of the larger chains charge.

Regards

plzhelpmesave!

my hubby works at lidl, and we get loads of stuff from there - from food, nappies to household furniture!

argue more though since i found out about tesco, clubcard and money off coupons!!

ernie_3

thanks for all the positive feeback and continuing motivation. My angel maid looks after all the food shopping and shops at LIDL, and what she cant get there it will usually be ASDA or ICELAND. She reckons a meal plan for the following week is the best way to plan meals{and you dont get the kids saying dont fancy that, ask them what they want within reason!!!} and not get caught going to the locaL 24hour garage and get "mugged" at the counter, all the cashier needs is a "black mask and 2 flintlock pistols" ha...ha...This way you dont have a larder or freezer with items only able to make part meals. Another great invention ..the slow cooker, used about 4/5 times a week in our house.

Going back to LIDL, i was fortunate to work for the united nations last year and met some great German friends. LIDL{pronounced leedel} are highly regarded in Germany and from what i can gather they are as big as say morrisons over here.

Also before i go one more tip{ hope it helps} till receipts.. i have a filing system for these..this came into being about 10 years ago as i got fed going back to shops with a complaint/fault and being asked "got a reciept..cant do anything without a reciept". Get an ice cream box/tupperware box, get 12 envelopes write on each one january ......december. Each time you get an item that carries a garauntee put it in the relevant envelope and you then can go back to it if you have a problem. This has saved me a fortune..

hope you are all enjoying the bank holiday..its a dry but cloudy here in Plymouth

ernie_3

Pobby wrote: »

Ernie,which Plymouth branch of lidls do you go to????

usually plymstock, but have used all the local ones

ernie_3

ernie_3 wrote: »

Hi to all, this is my 1st thread , i have been an avid reader and had MSE on my favourites for a year.

I live in plymouth with my "angel maid" we have been together for 21 years married since 1990. We have another 2 younger "angel maids" 15 and 13.

We got our first flat in 1988 and then moved to a 2 bed terrace in 1992 and then settled in our present house in 1994.

Like most of the poeple in the 1980's we had 3 endowments running on all 3 properties. Then the endowment fiasco started, we were getting letters saying that the endowments were going to short fall of the amount of £65,000. These companies then had the brass neck to ask to make extra payments to meet the amount.."yeah right"

So we decided in september 2002 to go complete repayment on £65,000

cashed in endowments £11,000.{poeple thought we were mad..live for today and all that}
compensation for the above £1,500
made overpayements of £50 a month, more if i had done overtime
In august 2005 £10,000 from savings and proceeds of selling my 2 classic cars !! vw golf mk1 covertable and vw golf mk2 gti}..again people thought we were mad.. i must say that this was the advice from a friend who is a financial advisor to use this money as an overpayment.
In june 2007 £14,000 .... but all of a sudden poeple didnt think that we were mad...spooky that
In september 2007 balance £21,500 took out a 5 year fixed rate 6.09% with YBS..£343 a month with a £75 overpayment should see us mortgage free september 2012.
May 2008 current balance £18,800 {£1,000 fee to clear balance}
Current value £190,000 of house

This has been a team effort with the "angel maid" who has been an avid charity shopper for 12 years.She used to work in fashion and can spot bargins at 200m {eye sight like a sh/t house rat}.When it comes to shopping the wife is an avid LIDL shopper, she discovered them about 2 years ago and gets most of the food shopping there, she reckons she saves the family budget about 25%

Like other people on this forum i would of liked to pay it off quicker, but like other followers/readers we have growing family. We have to get the balance right, we have a motto "spend a bit...save a bit".

When we are mortgage free we want to get a VW TRANSPORTER T5 and convert it to a campervan and go touring in u.k. and then over to europe.

cant wait..to all of the readers/contributers thanks for the continuing "motivation"

17.30 hours
just got a phone call from independant garage{not a stealer dealer}, new gear box and clutch.....£1415 inc vat, one the upside always have an interest free card mastercard on the go{this one got 9 months to go}..got till next may 2009 to clear the balance. Hopefully still be able to free of the "ba%ta$d" mortgage may 2012, all being well..
To all keep up the good work, i enjoy all the motivating threads..ernie

setmefree2

Cars they a pain in the proverbial:rotfl: Keep up the good work Ernie - just 4 years to go:T

StuartGMC

Ernie
Good to see your thread; we like you took the present mortgage in 1994, but the early repayments didn't impact like those of today just because of the annual calculation basis... still, things moved on, like you say and need to balance but we're on a similar time line (see sig and thread if you so desire!).

Cars and other "unexpected" costs hurt not because you can't pay them (that's why we've all got the emergency funds) but more because you know the impact on the mortgage free date I think!

Best wishes and keep us posted

ernie_3

ernie_3 wrote: »

Hi to all, this is my 1st thread , i have been an avid reader and had MSE on my favourites for a year.

I live in plymouth with my "angel maid" we have been together for 21 years married since 1990. We have another 2 younger "angel maids" 15 and 13.

We got our first flat in 1988 and then moved to a 2 bed terrace in 1992 and then settled in our present house in 1994.

Like most of the poeple in the 1980's we had 3 endowments running on all 3 properties. Then the endowment fiasco started, we were getting letters saying that the endowments were going to short fall of the amount of £65,000. These companies then had the brass neck to ask to make extra payments to meet the amount.."yeah right"

So we decided in september 2002 to go complete repayment on £65,000

cashed in endowments £11,000.{poeple thought we were mad..live for today and all that}
compensation for the above £1,500
made overpayements of £50 a month, more if i had done overtime
In august 2005 £10,000 from savings and proceeds of selling my 2 classic cars !! vw golf mk1 covertable and vw golf mk2 gti}..again people thought we were mad.. i must say that this was the advice from a friend who is a financial advisor to use this money as an overpayment.
In june 2007 £14,000 .... but all of a sudden poeple didnt think that we were mad...spooky that
In september 2007 balance £21,500 took out a 5 year fixed rate 6.09% with YBS..£343 a month with a £75 overpayment should see us mortgage free september 2012.
May 2008 current balance £18,800 {£1,000 fee to clear balance}
Current value £190,000 of house

This has been a team effort with the "angel maid" who has been an avid charity shopper for 12 years.She used to work in fashion and can spot bargins at 200m {eye sight like a sh/t house rat}.When it comes to shopping the wife is an avid LIDL shopper, she discovered them about 2 years ago and gets most of the food shopping there, she reckons she saves the family budget about 25%

Like other people on this forum i would of liked to pay it off quicker, but like other followers/readers we have growing family. We have to get the balance right, we have a motto "spend a bit...save a bit".

When we are mortgage free we want to get a VW TRANSPORTER T5 and convert it to a campervan and go touring in u.k. and then over to europe.

cant wait..to all of the readers/contributers thanks for the continuin

"motivation"

just got the mortgage statement, we owe £15380. We reckon we can get it paid by December 2011, that will have a one off lump payment at the end