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  • FIRST POST
    • BVic28
    • By BVic28 8th Nov 19, 6:38 AM
    • 91Posts
    • 167Thanks
    BVic28
    Night feed dreaming
    • #1
    • 8th Nov 19, 6:38 AM
    Night feed dreaming 8th Nov 19 at 6:38 AM
    Hi all

    A little background as to whatís brought me here:
    Iím 28, married and currently on maternity leave with my 12 week old (tomorrow) little boy (H). Iím breastfeeding so have had many long nightfeeds and found myself trawling through the MSE website and forums. I am a lover of numbers and moving money around (my favourite part of payday if Iím honest!) so I started getting excited about the prospect of becoming more money savvy to enable us to pay our mortgage off early.

    Mortgage summary:
    Bought our house as first time buyers in 2017, house price was £170k so we took out a mortgage for £127,500 (with about £1000 added on top interest free for fees which we didnít fully understand at the time) with the 20% help to buy equity loan.
    Following the advice of a work colleague I rounded up my monthly payments (I love a nice round figure) to start the OP ball rolling. We now have a mortgage balance of £121,245.32 with a remaining term of 32 years 3 months.

    Future mortgage plans:
    Remortgaging next year when current fixed term comes to an end to enable us to pay off the HTB equity loan.
    Selling this house and buying a bigger house (no more than £250k) as our forever home (current house only just big enough and weíre wanting one more baby to complete our little family, though not for a few years yet).

    Current OP plans:
    As Iím on mat leave I canít OP big chunks like some of the MFWs on here, however Iíve set up a spreadsheet for all future payments so I can see how even just little OPs here and there can help reduce the term and interest paid.
    By rounding up the monthly payments we already OP by £42.26 a month.
    Weekly Tilly tidies (initially to the nearest £1 but stretching to nearest £5 of budget allows) - this to happen on a 3 weekly rolling basis (other
    two weeks to be sent to saving pots for holidays (we love DisneyWorld so save for a long time for these holidays) and deposit for next house).
    Interest - switched to Nationwide current account to take advantage of their 5% interest. This will be split 3 ways each month as above.
    Topcashback/receipt hog/shoppix - money made from these to be split as above.
    Trying to smarten up my own spending - currently spending more on food/petrol/unnecessary purchases for H/stationary (I love a notebook) than needed.

    When I return to work I intend on increasing my OPs however want to ensure Iím getting the balance right between working to OP and working as little as possible to spend time with H while heís still so little (if I could I wouldnít be going back to work at all until he was in full time school!)
    Any tips/advice/suggestions would be really appreciated! Iím excited to start sharing my journey with you all.
Page 2
    • BVic28
    • By BVic28 24th Nov 19, 9:53 PM
    • 91 Posts
    • 167 Thanks
    BVic28
    Final Tilly tidy of the month! Sent £13.59 across to the mortgage! It’s payday tomorrow so the standard monthly overpayment of around £45 (just rounded up payments to £500 so not sure exactly what it is) will do across, but I’ll also tidy this account and send over whatever I need to get it to the nearest £10. I’ll wait until the end of the month once the interest has been added to update this month’s figures though!

    Aim for the coming month is to manage the grocery budget. We’re spending £300 a month which is only for two adults and nappies (I’m breastfeeding so we’re not even buying formula). We rely too much on expensive convenience food so I’d like to try and get back to cooking.
    • BVic28
    • By BVic28 1st Dec 19, 10:04 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Had to wait until today to tidy the mortgage account this month as the interest only showed up today but I’m still counting this towards November’s figures, so this months stats are:
    Start balance: £121,253.94
    DD payment: £500 (includes regular OP of £42.26)
    Additional OPs: £31.41
    Interest added: £247.47
    End balance: £120,970 - due to get into the £119’s in March with our regular OPs but I’m going to see if I can bring this forward to Feb - might be tricky while money’s so tight on mat leave but we’ll see what we can do!

    Weekly TT to be done later but I probably won’t post about that on here as that will be going into the holiday fund.

    So excited for Christmas, so today will be spent doing mainly Christmassy things! Happy December everyone
    • twinklie
    • By twinklie 1st Dec 19, 1:20 PM
    • 4,322 Posts
    • 11,312 Thanks
    twinklie
    I’m super excited for Elf month! x
    Daily mortgage interest Jan'20 - £15.65 Reduction in daily interest - £0.80
    % of mortgage paid off 4.9%
    MFiT-T5 #13 MFW 2031/currently 2037
    2020 goal -Reduce debt by £4K

    • BVic28
    • By BVic28 9th Dec 19, 1:59 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Meant to post about this last week but forgot! Managed to get an amazing deal on V media on Black Friday. We’re currently on Sky but our introductory offer is about to run out and I refuse to pay the full price. Our internet has been shocking for ages so we looked at V. Got the full package with all channels for the same as what we’re paying now but the best bit is it comes with a 12 month sim only contract. DH phone contract has just finished so this saves us £56 a month! I was planning to go through TCB but had to ring them to sort it so instead they waived the set up fee and the first 3 months payment which will save over £240 (TCB was £200) for the first three months, not counting the phone bill. All of these savings will be split equally between the 3 pots (although this may increase soon as I’ve been looking in to private pension saving as DH and I would love to be able to retire in e
    30 years making us 62 and 58 respectively)

    I’m hoping my posts make sense and aren’t just garbled nonsense, I think we’ve hit the 4 month sleep regression and it is taking its toll!!
    • longway2go
    • By longway2go 10th Dec 19, 9:42 PM
    • 168 Posts
    • 368 Thanks
    longway2go
    Ohhh no to the 4 month sleep regression. Excellent news on the v. Deal, it's things like this that together will make the big difference.

    Fingers crossed for a good night.
    Mortgage Aug 2019 161,000
    Nov 2019 156,500 Jan 2020 153,122

    Our Mortgage is never going to be as high as it is today.
    Onwards and downwards to a better life for our family.

    • BVic28
    • By BVic28 11th Dec 19, 1:36 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Thanks. We’ve just had a chunk of 4 hours which is the most we’ve had in a while so fingers crossed for another good chunk. Everytime we think we’ve cracked something it slaps us with a leap or a growth spurt, but I guess that’s just parenting in general haha
    • longway2go
    • By longway2go 11th Dec 19, 1:49 AM
    • 168 Posts
    • 368 Thanks
    longway2go
    Things never stay still with little ones but it does mean gard stages come to an end. I'm up with my 13 month old as he is not well.

    I hope you manage a good few hours.
    Mortgage Aug 2019 161,000
    Nov 2019 156,500 Jan 2020 153,122

    Our Mortgage is never going to be as high as it is today.
    Onwards and downwards to a better life for our family.

    • BVic28
    • By BVic28 12th Dec 19, 2:36 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Aww bless him, hope he gets better soon!
    • MrsLovely
    • By MrsLovely 17th Dec 19, 9:40 PM
    • 25 Posts
    • 62 Thanks
    MrsLovely
    Almost the £119's! keep it up!
    14/11/19 - £70, 793 * 03/12/19 - £59,892 * 11/01/20 - £58,928 *
    Emergency fund - £1800.00/£6,000
    10% Overpayment- £10,120 / £15,280
    • BVic28
    • By BVic28 18th Dec 19, 3:47 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Thanks MrsLovely, it can sometimes be a bit demoralising at how long it takes to drop to the next £1k bracket so Iím hoping little challenges can keep me motivated (although weíve come to a bit of a halt as I got a bit carried away with little ones first Christmas, whoops!). Itís payday on Monday so hopefully weíll get back on track then!
    • MrsLovely
    • By MrsLovely 18th Dec 19, 9:25 PM
    • 25 Posts
    • 62 Thanks
    MrsLovely
    Having this goal so early in life may seem tough now, but life flashes by you and before you know it kids are at uni (Like me) and there are just a couple of years left on the mortgage! just stick to your plan, but do have a life too!!
    14/11/19 - £70, 793 * 03/12/19 - £59,892 * 11/01/20 - £58,928 *
    Emergency fund - £1800.00/£6,000
    10% Overpayment- £10,120 / £15,280
    • BVic28
    • By BVic28 22nd Dec 19, 8:13 PM
    • 91 Posts
    • 167 Thanks
    BVic28
    Got a little bit off track with figures with Christmas however due to an amazing Virgin media Black Friday deal that includes DHís phone contract Iíve been able to shuffle figures around and just sent an OP of £22.39 off. Itís payday tomorrow so the usual DD will come out and Iíll also round the mortgage figure down to the nearest £10. I set an initial target of £121,700 or a stretch target of £121,650 for the end of the month so I might send extra over once interest has been applied (1/2nd January but Iíll count it in December as itís Decembers interest and pay)
    • BVic28
    • By BVic28 22nd Dec 19, 8:15 PM
    • 91 Posts
    • 167 Thanks
    BVic28
    I meant £120 not £121 doh!
    • BVic28
    • By BVic28 23rd Dec 19, 1:17 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    £5.22 OP made from wages to tidy mortgage figure until interest is taken. This speculatively helps me reach my target of under £120,700 however it will depend on amount of interest added.
    • longway2go
    • By longway2go 23rd Dec 19, 8:11 AM
    • 168 Posts
    • 368 Thanks
    longway2go
    I recon if you reached it take it as a goal achieved ��hope you are well
    Mortgage Aug 2019 161,000
    Nov 2019 156,500 Jan 2020 153,122

    Our Mortgage is never going to be as high as it is today.
    Onwards and downwards to a better life for our family.

    • BVic28
    • By BVic28 23rd Dec 19, 11:18 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Yeah, I’m good thanks. December has been a bit of a whirlwind of jobs to do to get sorted and mum guilt, but we’re getting there. Hope you’re ok
    • longway2go
    • By longway2go 24th Dec 19, 8:49 PM
    • 168 Posts
    • 368 Thanks
    longway2go
    Sounds all 2 familiar. Hope you have an amazing Christmas. All good here thanks
    Mortgage Aug 2019 161,000
    Nov 2019 156,500 Jan 2020 153,122

    Our Mortgage is never going to be as high as it is today.
    Onwards and downwards to a better life for our family.

    • BVic28
    • By BVic28 25th Dec 19, 2:38 AM
    • 91 Posts
    • 167 Thanks
    BVic28
    Merry Christmas everyone, hope you all have an amazing day with your family
    • BVic28
    • By BVic28 27th Dec 19, 6:45 PM
    • 91 Posts
    • 167 Thanks
    BVic28
    Hope everyone had a great Christmas! We really enjoyed our first Christmas as parents. H didn’t get much, but it’s enough to highlight that we really do need a !!!!!! house. Half of our living room is taken over by a house rabbit so there isn’t much space for H’s toys. I’m going to be thinking about 2020 plans and budgets so we can maximise overpayments/savings for fees and hopefully be in our forever home by next Christmas.
    • BVic28
    • By BVic28 27th Dec 19, 6:47 PM
    • 91 Posts
    • 167 Thanks
    BVic28
    The exclamation marks should say “bigger” - can’t edit posts on my phone and I have no idea how they appeared
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