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Best put on my big girl pants! my saving for a deposit diary - Page 45

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Best put on my big girl pants! my saving for a deposit diary

edited 13 July 2019 at 8:15PM in Mortgage-Free Wannabe
512 replies 47.6K views
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  • mumof3.12kindebtmumof3.12kindebt Forumite
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    Hello everyone ,

    So my new job is more hours (not sure if I have mentioned that before) . It means I won't need to rely on overtime or agency work regularly. It also means after commuting we should be better off.

    I'm not sure if I have previously mentioned but we are currently in a 2 bedroom housing association flat paying £410 a month in rent.
    The new house is £468 while on our fixed deal. And then £550. This means for £58 - £140 extra a month we have gained an extra downstairs room , an extra toilet and 3 extra bedroom. 3 of the 5 bedrooms are double bedrooms. Our garden area is smaller but the kids have enough room to play out there and we won't have a drive (we don't currently have one anyway).

    The plan stays the same. Rebuild our savings then overpay the mortgage, while getting the house how we want it. (and hopefully adding some value to it).

    What's even more shocking is it hasn't even been 2 years since we started this diary. :beer:

    I will do a post of a breakdown of our costs once we have moved. I'll make a post shortly with a "timeline" of paying off our debts and saving up to move.

    We still don't know about weather we will be moving in may or not.
    We still haven't had confirmation about acceptance of the 5% deposit but we have secured the 95% mortgage. Fingers crossed it will all be going ahead still and by the end of this school year we would of moved and settled in our new home.


    We are still trying to keep our monthly expenses to a minimum to allow us to save as much as possible untill we move.
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • mumof3.12kindebtmumof3.12kindebt Forumite
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    Good afternoon everyone,
    Hope you are all well.

    Just had an email off the solicitors they are waiting on one enquiry from the seller regarding a disability grant that was used for the downstairs toilet and then they will be in touch regarding a date for exchange and completion. :j
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
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    Hi everyone ,
    Last day at my current job today. Start my training next week at my new job. Solicitors have also been in touch they are ready for us to exchange contracts so we need to let them know when we want to do it. We are continuing with spending as little as possible to get as much money in the bank as we can (although we have enough for the move)

    Will keep you all updated. Have a great weekend
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • LeighofMarLeighofMar Forumite
    310 posts
    100 Posts Name Dropper First Anniversary
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    How exciting for you. I hope the rest is smooth sailing and you will soon be unpacking in your new home.
    Mortgage start date Dec 2015 - $64,655.00
    Mortgage end date Dec 2045 - NOT!!!!
    Mortgage balance June 2020 - $37,930.00
    Hope to be mortgage-free by 2023 
  • mumof3.12kindebtmumof3.12kindebt Forumite
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    Thankyou. Hopefully won't be too much longer.


    Morning all,
    Kids are watching a film with me.

    As the amount stands in our bank at the moment £11,300 we will just about have enough to cover costs/deposit and a removal company. I think the seller needs a few weeks to find somewhere else to live so it's likely we will get the keys next month. We then have to give a month's notice here so it's looking likely we will move in June/July.
    I still have to tell my dad and the rest of the family and we haven't told the eldest yet either :o

    I'm starting to get excited now but there's still a little bit inside me saying don't get too excited incase something goes wrong.
    Once moved I'm going to keep track of our spends more closely the house is much bigger so I'm expecting higher running costs and we will be. Spending more on petrol for me to get to and from work. Although when we can afford it I'm going to switch to an all electric or hybrid car to help with this. We have already said we will be doing more with the children taking them places etc obviously it wont always cost. But they have been brilliant during our journey of becoming debt free and saving for this move and we haven't really done much with them in regards to trips and days out so it will be nice to do more stuff in general. We are currently in a village and partner doesn't drive so they have been restricted as to what they can do while I'm at work unless partner took them on the bus.
    Our new home is in a small town and the town centre is ten minutes walk. So everything we need on a daily / weekly basis is within walking distance. The only time we will be using the car is for me to get to work to come back to visit family and on trips / days out further afield. We also have ten beaches within an hour and a half (currently only have 2 within that distance) some of the beaches we can get to on a bus at the new house.
    Once we are moved and settled I'm going to start posting everyday with at least 3 things I am greatful for. I will also challenge myself to something each month it could be related to finances or personal things. I'm going to really try to stick to this.

    Have a great day everyone :beer:
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
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    My 3 g's of the day (grateful/gratitude)
    1. Seeing both my grandmothers
    2. Having the day off - spending it with my kids
    3. Having the money to pay for my food shop

    We have watched a film, baked some shortbread , visited my nana , my grandma visited. I spoke to my dad on the phone and my brother via text. We did a food shop. Today has been a nice relaxing day. I also did a load of laundry and I've washed up more time than I can count .. hope you have all had a great day :)
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
    500 Posts Third Anniversary Name Dropper Combo Breaker
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    Today I am greatful for
    1. Being able to save enough money to buy our first home.
    2. Seeing my brother and dad
    3. Not being in debt
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
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    Debt / savings journey

    June 2017
    £16k of debt
    £0 savings

    November 2017
    £13k of debt
    £0 savings

    Sept 2018
    Loan paid off

    Oct 2018
    £2400 debt
    £2000 savings

    November 2018
    Debt free !!
    £5000 savings (sold my little car for around £4000)

    19th Dec 2018
    £5k savings
    150 help to save +75 bonus
    500 LISA Skipton
    200 nationwide moving costs account
    246 bricklane

    10th April 2019
    £10,570.00 in savings

    26 april 2019
    £11,300.00 in savings

    It's been 1 year 6 months and 26 days since I started this diary.

    £13,000.00 of debt gone !
    £11,300.00 saved !

    I think that deserves a clap :T:T:T:T
    *Does a happy dance*

    I can't tell you how proud of us I am. :j
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • mumof3.12kindebtmumof3.12kindebt Forumite
    752 posts
    500 Posts Third Anniversary Name Dropper Combo Breaker
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    Typo it's been 1 year 6 months since we started our debt free. Journey properly starting with £13,000 of debt
    June 2017 £16,000 debt ~ Nov 2018 DEBT FREE
    June 2019 Homeowners ~ June 2019 mortgage £123,500.00
  • julicornjulicorn Forumite
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    1,000 Posts Second Anniversary Name Dropper Photogenic
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    Congratulations, that is absolutely amazing! And how exciting to hear you are almost there with the house purchase :j:beer:
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £131,000 (-£1,450 overpayment savings pot)
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