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  • FIRST POST
    • Hettyhound
    • By Hettyhound 24th Apr 19, 8:32 PM
    • 367Posts
    • 2,142Thanks
    Hettyhound
    Easter 2025 I知 coming to get you!
    • #1
    • 24th Apr 19, 8:32 PM
    Easter 2025 I知 coming to get you! 24th Apr 19 at 8:32 PM
    OK so that maybe slightly optimistic but you have to dream big!

    I致e been reading these for a while and decided it was time to go public instead of lurking; hopefully I can keep up with it and keep motivated. I have a mortgage which is not huge but I still have one. Originally 」80,000 in November 2015 and as of tonight stands at 」62,919.93, which does mean in the last 3 1/2 years I致e paid off 」17,030.07. The current redemption date is 11th November 2031 as it is a 16 year mortgage with 12 1/2 years left but I would love to pay it off in six years, hence Easter 2025 in the title.

    I知 a single parent to a small boy and although I don稚 earn masses I do ok. I live fairly frugally because that suits me and the mortgage is my only debt. I want to get rid of it while the boy is small and fairly cheap to run as the bigger he gets the more he will cost me. There is a kind of fuzzy end plan as to how I will spend my mortgage free time but I致e got six years to firm that up.

    So that痴 why I知 here, doing this on my own for me and my fuzzy end plan . Thanks for reading and good luck to all you mortgage free wannabes x
    Jan 2020 Grocery challenge 」144.55/」150
    SPC #120 SPC 12: 」125.86
    MFW #90 Mortgage start Dec 2015 」79,950; January 2020 」57,992.91; 2020 OP 」50/」3000
Page 1
    • blue_mango
    • By blue_mango 24th Apr 19, 8:59 PM
    • 471 Posts
    • 1,473 Thanks
    blue_mango
    • #2
    • 24th Apr 19, 8:59 PM
    • #2
    • 24th Apr 19, 8:59 PM
    You're doing great as a single parent, I'm impressed!

    Six more years is not that long, you'll be so relieved once you pay it off, just keep imaging all that spare money.
    • Kat78MFW
    • By Kat78MFW 24th Apr 19, 9:25 PM
    • 100 Posts
    • 159 Thanks
    Kat78MFW
    • #3
    • 24th Apr 19, 9:25 PM
    • #3
    • 24th Apr 19, 9:25 PM
    Hello - we are looking to pay ours off in six years too but ours is smaller and we have one and a half incomes (I only work PT). I am so impressed with how much you are paying off as a single parent.

    Good luck with it. I have subscribed to your diary.
    Current mortgage (March 19) 」54 943 (5yr fix since Jan 18 Interest Only 1.99%)
    Current monthly payment 」799 (」109 interest and 」690 repayment)
    Current Mortgage Free Date March 2025
    Opening mortgage balance June 2002 - 」114 000
    Re-mortgage May 2007 」118 000 (borrowed extra 」14 000 to pay loan back to BIL+SIL)
    Agreed repayment date May 2027
    • beanielou
    • By beanielou 24th Apr 19, 10:54 PM
    • 68,422 Posts
    • 312,577 Thanks
    beanielou
    • #4
    • 24th Apr 19, 10:54 PM
    • #4
    • 24th Apr 19, 10:54 PM
    Happy shiney new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 14 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • CathT
    • By CathT 25th Apr 19, 6:54 AM
    • 6,312 Posts
    • 43,798 Thanks
    CathT
    • #5
    • 25th Apr 19, 6:54 AM
    • #5
    • 25th Apr 19, 6:54 AM
    Great diary title, will be cheering you on.
    Jan 2020 - part 1 - 」64,504 part 2 - 」41,143
    Total - 」105,647 94 months to go!
    • jodles16
    • By jodles16 25th Apr 19, 11:12 AM
    • 1,472 Posts
    • 4,448 Thanks
    jodles16
    • #6
    • 25th Apr 19, 11:12 AM
    • #6
    • 25th Apr 19, 11:12 AM
    Sounds like you are already doing amazingly, hopefully you will smash that target!!


    Jodles
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
    • Hettyhound
    • By Hettyhound 25th Apr 19, 8:30 PM
    • 367 Posts
    • 2,142 Thanks
    Hettyhound
    • #7
    • 25th Apr 19, 8:30 PM
    • #7
    • 25th Apr 19, 8:30 PM
    Thanks everyone for the support, not much grown up conversation about finances or anything else in this house. There痴 only so much the dog pretends to understand so it痴 good to get it out of my head and dumped somewhere else! I suppose in some ways it is difficult doing this on one salary but in others it痴 simpler. It痴 my money to do what I want with so no arguing about 堵oing without. I致e always been reasonably ok with budgeting which I think came from my parents; my mum got housekeeping money on a Thursday when dad got paid in cash and it had to last the week. We used to joke about having the same tea on the same day each week so roast on Sunday, cold meat and chips Monday, chops on Tuesday etc but I can now see why. I started using cash only for shopping about 18 months ago and it has revolutionised the way I shop and budget and meal plan and empty cupboards and freezer etc. I now get really upset if I have to throw any food out because it痴 gone (properly) off.

    Had some good news today. I started a new job about 5 weeks ago but couldn稚 really work out take home pay with increases in auto enrol pension and staff car parking etc. Anyway even though payday isn稚 until next Tuesday we have system where payslips are posted on your personnel account a few days before and taking everything into account I値l be about 」40 a month better off which is more than I壇 calculated. I once read that rich people don稚 spend the extra cash they get as pay increases but invest it instead and still live to their original budgets. My budget will stay the same so I致e already allocated it to overpayments, maybe Easter 2025 is feasible after all
    Jan 2020 Grocery challenge 」144.55/」150
    SPC #120 SPC 12: 」125.86
    MFW #90 Mortgage start Dec 2015 」79,950; January 2020 」57,992.91; 2020 OP 」50/」3000
    • newgirly
    • By newgirly 26th Apr 19, 7:52 AM
    • 7,005 Posts
    • 48,043 Thanks
    newgirly
    • #8
    • 26th Apr 19, 7:52 AM
    • #8
    • 26th Apr 19, 7:52 AM
    Hi Hettyhound, just wanted to say welcome and good luck with the new diary, extra take home pay is great start
    MFW 38

    2020 start bal:」73,119, current bal: 」73,119 target 」18,000, 」 op壇
    • Jelllibeanz
    • By Jelllibeanz 26th Apr 19, 9:15 AM
    • 189 Posts
    • 412 Thanks
    Jelllibeanz
    • #9
    • 26th Apr 19, 9:15 AM
    • #9
    • 26th Apr 19, 9:15 AM
    Sounds like you are off to a cracking start. Good luck with your journey. I look forward to reading more.
    Onwards and upwards with the occasional kick up the butt required!
    Mortgage '09 = 」103k Feb '17 =」79.9k, Aug 17 = 」69k Mar 19 = 」61k
    Aiming for 10% OP in 2019 - 」1320.95/」6100 」3420/」3520 credit card at 0%
    • Hettyhound
    • By Hettyhound 28th Apr 19, 8:22 AM
    • 367 Posts
    • 2,142 Thanks
    Hettyhound
    Weather wasn稚 great with us yesterday so spent most of the day trying to entertain a whinging child who insisted on going for a ride on his bike in the showers and then complained he was cold and wet. He cycles and I walk at the moment but he has suggested I get a bike Did a bit of a larder clear out, made cranberry and pistachio cookies, a cauliflower, coconut and almond curry for tonight and some brownies with chestnut puree in. Only threw one thing out; I considered that an open jar of vegemite with a best before of October 2015 really was beyond help.

    Looking a bit brighter today so we are going to get the liner in our wildlife pond 層e dug (so that was me then) last weekend. I値l order the plants tonight and then sit back and wait. I also need to do May budget and shopping lists as payday is Tuesday so shopping on my day off Wednesday. I say day off but I致e got to go into work on Wednesday to take minutes for a meeting so have negotiated leaving a bit early on Friday for the bank holiday weekend
    Jan 2020 Grocery challenge 」144.55/」150
    SPC #120 SPC 12: 」125.86
    MFW #90 Mortgage start Dec 2015 」79,950; January 2020 」57,992.91; 2020 OP 」50/」3000
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 28th Apr 19, 8:44 AM
    • 2,518 Posts
    • 14,164 Thanks
    wishingthemortgaheaway
    Hi Hetty,

    Just spending some time reading some new diaries, especially those on a similar timescale to us.
    I too have a little one who wanted to go bike riding in the rain and wind yesterday. It's looking a bit drier today thankfully.

    Good luck with your plans.
    Wish
    Outstanding mortgage: 」23,181 (December 19)
    MFW 2020 Challenge Member #10 0/」2318
    • Brindlebabe
    • By Brindlebabe 28th Apr 19, 10:31 AM
    • 37 Posts
    • 65 Thanks
    Brindlebabe
    Good luck.

    I think planned food shopping has changed my life. It should be taught in schools. Before I did that I wasted soooo much money on takeaways, meals out and one off trips to the coop!

    I can't imagine having a kiddy as well as a job and a dog and a mortgage. I honestly don't know how people like you manage it. Life is hard enough without having responsibility for tiny vulnerable people!

    Hope it's all going well. Have subscribed and will look forward to seeing how you're getting on.

    BB x
    Starting mortgage Jan 2019: 」211,500
    Current mortgage October 2019: 」204,906.74
    Target: mortgage free by 2032
    • Hettyhound
    • By Hettyhound 29th Apr 19, 10:06 PM
    • 367 Posts
    • 2,142 Thanks
    Hettyhound
    Thanks everyone for the support and good wishes. Just made an overpayment on the mortgage of 」200 so bank balance now stands a 」1 until midnight and my pay goes in. I致e done a bit of an assessment for the first third of the year and so far I致e completely paid off the credit card which was used for a vets bill. Hetty now has only 7 teeth left but is a lot happier; the breed is renowned for bad teeth but it didn稚 stop my guilt. Had to use the credit card as the emergency fund was already allocated for the electrician and the builder (new bathroom electrics and loft insulation plus other bits and pieces) but have managed to build that back up to 」600. This year to the end of April I致e also overpaid the mortgage by 」364.87. All in all I知 very proud of myself. My house needs a lot of work but I could just keep throwing money at it and never be finished. As it痴 warm and dry and the downstairs space is divided as I wanted plus a gorgeous kitchen fitted, which did wipe out my savings pot, I知 leaving it as it is. My son isn稚 exactly careful either, lots of jumping around mainly rather than anything destructive, but still.....if I pay off the mortgage and release that extra money each month I could get the house completed in just a few months.

    Done my meal plan and shopping list so I値l take the cash out tomorrow. May will be another tight one as it痴 a 5 week month with yet another school holiday to fund, plus childcare provider prices going up too. Hey ho, it痴 only money!!!!!!
    Jan 2020 Grocery challenge 」144.55/」150
    SPC #120 SPC 12: 」125.86
    MFW #90 Mortgage start Dec 2015 」79,950; January 2020 」57,992.91; 2020 OP 」50/」3000
    • BachSoon
    • By BachSoon 30th Apr 19, 7:48 AM
    • 172 Posts
    • 340 Thanks
    BachSoon
    Welcome! That sounds like a plan I have a DS too who I imagine will be a similar ball of energy in a few years

    Good luck with your journey, I shall follow with interest
    • Makethedayscount
    • By Makethedayscount 30th Apr 19, 9:37 AM
    • 187 Posts
    • 903 Thanks
    Makethedayscount
    Good luck! I'll be following you for inspiration

    • LeighofMar
    • By LeighofMar 30th Apr 19, 4:37 PM
    • 202 Posts
    • 489 Thanks
    LeighofMar
    Welcome. We also have a similar timeline. Hope to be done by 2024 if household stuff would just stop happening . I wish you the best on your journey. It appears you are off to a great start.
    • Hettyhound
    • By Hettyhound 30th Apr 19, 10:39 PM
    • 367 Posts
    • 2,142 Thanks
    Hettyhound
    Payday yeah! Meal plan and shopping list for this week done, let痴 see how Ald1 pans out tomorrow. Normally spend a lot more the first week of the month to start batch cooking for the freezer, which is very empty at the moment. Fridge is bare apart from some milk for the porridge in the morning and the cupboards resemble those of Old Mother Hubbard but rather they be like that than having money tied up in unused groceries. Now I知 all grown up I can value the skills of budgeting my parents taught me; I知 sure they would have been proud of how I知 managing and I just hope that I can teach my son the same in the coming years.
    Jan 2020 Grocery challenge 」144.55/」150
    SPC #120 SPC 12: 」125.86
    MFW #90 Mortgage start Dec 2015 」79,950; January 2020 」57,992.91; 2020 OP 」50/」3000
    • Hettyhound
    • By Hettyhound 1st May 19, 10:40 PM
    • 367 Posts
    • 2,142 Thanks
    Hettyhound
    Managed to overpay another 」200 today. Only managed to do this because of the way payments into my bank fall; it only happens like this once a year so I致e taken advantage of it. Did the main shop for the month today which came in at 」82. This is all the pet food, household and toiletries for the month and the cupboard is now full again. I致e got just short of 70 left to buy groceries for the rest of the month but the larder is full of staples so that will mainly be for fresh stuff. Got some mince in the slow cooker which should split into 3 lots, made some biscuits and I made bean enchiladas for tea so there is another portion of filling and 4 wraps in the freezer for another day.

    Looking forward to another long weekend and I致e negotiated an early finish on Friday as I had to go to work today for a couple of hours on my none working day. It痴 laughingly refered to as my none working day but I do more on my day off than any other day!
    Jan 2020 Grocery challenge 」144.55/」150
    SPC #120 SPC 12: 」125.86
    MFW #90 Mortgage start Dec 2015 」79,950; January 2020 」57,992.91; 2020 OP 」50/」3000
    • beanielou
    • By beanielou 1st May 19, 10:44 PM
    • 68,422 Posts
    • 312,577 Thanks
    beanielou
    Good news on extra payment
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 14 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • CathT
    • By CathT 2nd May 19, 6:46 AM
    • 6,312 Posts
    • 43,798 Thanks
    CathT
    That's a great overpayment. We find with utilities etc rising the only spends we can control are our food spends so we try and be as frugal as we can. Staying out of the supermarket as much as possible works for us!
    Jan 2020 - part 1 - 」64,504 part 2 - 」41,143
    Total - 」105,647 94 months to go!
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