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  • FIRST POST
    • sarahevie1
    • By sarahevie1 9th Apr 15, 11:36 PM
    • 531Posts
    • 2,753Thanks
    sarahevie1
    sarahevie's single quest to mortgage freedom
    • #1
    • 9th Apr 15, 11:36 PM
    sarahevie's single quest to mortgage freedom 9th Apr 15 at 11:36 PM
    I had a diary a while ago but I let it slip, my circumstances have changed massively in the last six months, so I am back aiming for one thing mortgage freedom.

    So about me, single mummy of three beautiful girls. Full time primary school teacher, I also have a Saturday job at a well known supermarket.

    About six months ago oh walked out on me after 12 years, I found myself 30, single and struggling. A few weeks later he was back, and we see each other most days, although he rents a flat in a nearby town. I've had to use literally all my savings to get the joint mortgage into my sole name, 20,000.

    My mum and dad paid oh his equity share of the house 10,000, will have to pay this back. Oh is now in the process of buying his own house, he's asked me to move into it with him, as he never felt like my house was his, although it was in joint names, I'm undecided about moving into ohs new house. All I know for certain is my house is my responsibility and the 58000 mortgage has to go.
Page 34
    • sarahevie1
    • By sarahevie1 1st Nov 18, 8:00 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Lots has been happening and I'm pleased to report I start a new teaching job on Monday. It is through my supply agency on a fixed term role until July. It is every morning at a lovely village school. I am nervous as it is a key stage I'm unfamiliar with, and the previous teacher has only lasted half a term. However, it will be great to have some consistency of workplace/income after quite a few months of multiple jobs, income streams, no contracts etc.

    In the end I couldn't take the consultancy job as couldn't manage on 28 days holiday per year with the kids. They also dropped my salary by 5300 from what they had verbally said, so in the end it made my decision easier.

    The student house was supposed to exchange last Friday in time for the budget. Now nothing adverse has come up from the budget the buyer is in no rush. I have a deadline in mind and will be pressing the estate agent from Monday if it still hasn't exchanged. Currently staying with friends on a 9 day mini break for half term.
    Last edited by sarahevie1; 01-11-2018 at 8:21 PM.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • beanielou
    • By beanielou 1st Nov 18, 8:28 PM
    • 63,636 Posts
    • 281,905 Thanks
    beanielou
    Hope the sale goes through soon
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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.***
    • Moneyfordreams
    • By Moneyfordreams 2nd Nov 18, 10:08 AM
    • 1,300 Posts
    • 6,333 Thanks
    Moneyfordreams
    wow good luck with your plans
    Mortgage restart June 2018 119950
    May 19 mortgage 111600, 4700cc, 6000, 1400, car 6550.
    • sarahevie1
    • By sarahevie1 25th Nov 18, 9:56 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Just popping in with an update for my signature.
    Have taken on some debt related to house buying fees.
    Dad 1250
    Mum 1037.79
    Needs paying ASAP

    Sent the whole balance of 356370.79 to the solicitor last Friday in order to hopefully complete on the 30th. This includes the stamp duty, outstanding solicitor fees but
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • A Frayed Knot
    • By A Frayed Knot 25th Nov 18, 10:46 PM
    • 2,815 Posts
    • 12,630 Thanks
    A Frayed Knot
    Wow, fantastic, but . . . what's the but
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Mortgage Free 21.12.18
    Just 11 Years 3 months early
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/4000, 2015/6294.69, 2016/3186.80, 2017 4068.97

    • beanielou
    • By beanielou 26th Nov 18, 5:08 PM
    • 63,636 Posts
    • 281,905 Thanks
    beanielou
    Wow, that is some amount!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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.***
    • sarahevie1
    • By sarahevie1 26th Nov 18, 8:35 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Wow, fantastic, but . . . what's the but
    Originally posted by A Frayed Knot
    The money spent on the new house. It is a super scary amount to spend, especially for one not used to money. Exchanged today so definitely moving imminently.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • sarahevie1
    • By sarahevie1 13th Dec 18, 3:23 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Been living in my new house just under a week. Didn't move in for a week after completion as didn't have a fridge/freezer.

    Not content with being mortgage free once, I am due to complete on the student house tomorrow to be officially/mortgage debt free. Haven't decided what to do with the equity, but first choice is to buy a mortgage free, cheaper BTL. Alternatively I'm looking at buying a children's day nursery, this would be more profitable but would also require a business loan. There's lots of things to consider moving into next year.

    November spends

    Clubs: 47.90, 35
    Food: 225.24
    Petrol: 159.80
    Travel: 20.30
    Cash: 90
    School photos: 65
    Tax bill: 677.40
    Internet/phone: 30
    Gas/elec: 79.30
    Miscellaneous share of utilities: 149
    Car insurance: 279.16
    Home insurance: 107.75

    In:1487.64
    Out: 1930.85

    Year to date
    In: 21717.33
    Out:14351.85
    Last edited by sarahevie1; 13-12-2018 at 3:27 PM. Reason: year to date
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • sarahevie1
    • By sarahevie1 1st Jan 19, 10:26 AM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Just a quick update for December, have spent 1481.68 this month and earned 2543.11.

    I've earned 24260.44 net this year.

    So this year I've spent 15833.53 - I am using this as a target for retirement income. I figure inflation will make it less, but equally I had a mortgage for 8 months of this year, and a lot of child related expenses.

    Plans for next year, aim to spend less and earn more. Also need a decent plan for the equity from the btl. Currently have 105,000 in savings from that. Any advice on how to invest that would be very welcome.

    Overall thank you to all who have followed me this year and here's to the next.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • sarahevie1
    • By sarahevie1 31st Jan 19, 7:33 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Target net income: 24260.44 (actual for 2018.)
    Target expenditure: 15833.53 (actual for 2018)

    Lots has been happening this month. Have decided I'm too risk averse for a day nursery, I went to see a financial advisor and the only way to fund was to secure it against my mortgage free home . So it was a no from me.

    Perhaps in the future; I'm only 33 after all, but not right now, I couldn't risk the girls' home.

    Highlights this month included going to Doncaster dome with a large group for a child's birthday party. I did huff and puff about the 100 mile round trip and petrol cost but had a really lovely day out.

    Also had the most amazing girlie day with two of my old uni friends, I don't see them as often as I'd like (couple of times per year but love them and it's always lovely to spend time together.) Our lives are so different from how we imagined, but essentially *we* are the same people and the paths we have chosen were pretty predictable.

    Have also booked a weekend away in Scarborough with friends in February (not sure about the weather for this one) but the kids are looking forward to it.

    Spends this month: 1194.34

    Utilities/food/petrol: 564.25
    Cash: 140.57 (this will be mostly social spending.)
    Professional fees: 56.60
    Clubs: 184.65this includes guide/brownie/rainbow subs have also agreed the girls can each do dodgeball and acro each week. Two still have swimming lessons too.
    Furniture: 187 all charity shop bargains including a welsh dresser, two seater sofa, two bar stools and a 10 seater table as my old 4 seater looked ridiculous in the large space.
    Clothes: 61.27 all for the girls.

    Income: 1743.07

    Year to date
    Target income: 24260.44 - Jan (1743.07)
    Expenses: 15833.53 - Jan (1194.34)
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • sarahevie1
    • By sarahevie1 31st Mar 19, 6:35 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Just popping in to add my monthly targets,

    I'm about 4 weeks into buying a 1 bedroom terraced bungalow, I bought it as advertised as freehold, and have found out this week it's leasehold. Due to the fact the rental is good, and there's literally nothing else I can buy; where I am, without needing a mortgage, I'm sticking with it for now but if the solicitor finds problems with the lease, the charges are higher than anticipated I may have to pull out. I'm right at the top of my budget with it as it is, I had 105,000 (the purchase price) but I'm saving up for the 4,000 needed to pay the additional stamp duty and solicitor fees. In good news I don't have any debt.

    February
    Money in 2924.19
    Out 1425.33

    March
    Money in 2607.86
    Out 1266.38

    Really love a local radio stations vouchers for days out. Have been to the Alpamere water park at Scarborough, Thackray medical museum, Sea life centre, all really cheap. Had a great weekend away with friends at the coast a few weeks ago and the weather was kind.Also had a couple of nights out locally at an 80s charity disco and a 90s night at a local hall.

    Year to date
    Earnings: 24260.44 (7275.12)
    Spent: (3886.05)
    Last edited by sarahevie1; 31-03-2019 at 6:42 PM.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • kaycastle
    • By kaycastle 1st Apr 19, 6:25 AM
    • 93 Posts
    • 209 Thanks
    kaycastle
    I've only just come across your diary now and read the first page and the last few pages and just wowww!!! I can't believe you first started this in 2015 - you've done so much. And you're so young I'm going to set some time aside to read more in detail later as it must have been an exciting and busy journey.
    Oct 2017: 228,041.09
    Feb 2019: 215,765.98
    March 2019: 214,209.62
    • sarahevie1
    • By sarahevie1 1st Apr 19, 9:18 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    I've only just come across your diary now and read the first page and the last few pages and just wowww!!! I can't believe you first started this in 2015 - you've done so much. And you're so young I'm going to set some time aside to read more in detail later as it must have been an exciting and busy journey.
    Originally posted by kaycastle
    I started my first diary in 2010 after the birth of my second child, when I was really skint and spending a lot of time at home breastfeeding and reading MSE.

    When my Oh left me in 2014, after 11 years, when our youngest was barely 1, I had a long hiatus so came back in April 15 with a new diary to mark turning 30.

    There's been no huge revelations or pearls of wisdom; just a life of frugality. There's things I could have done better and I'm looking to put right, I've got barely any pension. Currently estimated at 212 a month from 68 so need to do something about this, I have a plan

    I've not been scared to work minimum paid jobs, I've had lodgers when I've had to, I've not gone out if I couldn't afford to, I've made the food budget really stretch, I never buy myself anything. I was conditioned from being a child to not want *things* so it's all helped.

    Everyday I sit in my lovely house and smile that it's mine and that makes me proud especially when all my kids have said on different occasions that rooms in it are 'their happy place' and that's good enough for me.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • teabody
    • By teabody 3rd Apr 19, 5:59 PM
    • 204 Posts
    • 772 Thanks
    teabody
    I am just here to Congratulate you this far!!! Love reading and learning from you. I do need to go back and reread. Absolutely thrilled for you x
    • sarahevie1
    • By sarahevie1 4th Apr 19, 8:19 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    I am just here to Congratulate you this far!!! Love reading and learning from you. I do need to go back and reread. Absolutely thrilled for you x
    Originally posted by teabody
    Thank you, I don't update much anymore as really it'd be so boring and repetitive. I do the same things week in week out, but it's definitely a lifestyle choice and it works for me.

    I've definitely got better over the years at 'living' more and going out and having more day trips/holidays. You've got to enjoy the journey as it's a long slog.

    I was at a friends funeral yesterday he was 36 (only 2 years older than me) childhood friends with my children's father. Was absolutely heartbreaking. Was held in a really tiny methodist chapel where he worshipped as a boy.

    Had a very long heart to heart with my children's father and the fact that we were the only ones who knew the hymns broke the ice; we used to go to a Methodist church when we were together.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • beanielou
    • By beanielou 4th Apr 19, 8:26 PM
    • 63,636 Posts
    • 281,905 Thanks
    beanielou
    So very young
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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.***
    • sarahevie1
    • By sarahevie1 8th May 19, 9:49 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Had a pretty frugal April.

    Spent 1194.77
    Earned 2763.08

    Have managed to meet my target for the bungalow so don't require a credit card/loan. Have sent the signed papers back so now just playing the waiting game.

    Year to date
    Earned 10038.20
    Spent 5084.82

    Expenses increasing going forward as have agreed for the girls to increase their hours of dancing each week. Have also let them start trampolining and gymnastics.

    For me, I'm going to start a pension as mine is woefully inadequate. 4 full years of teacher's pension and a couple of little ones.

    Also will be at zero savings again once the bungalow completes so plan to put some money into ISAs; regular easy access savers. Will be focusing now on FIRE whatever route that might take.
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
    • debtfreeoneday
    • By debtfreeoneday 24th May 19, 9:27 AM
    • 2,907 Posts
    • 9,993 Thanks
    debtfreeoneday
    You are doing so well, life is good! x
    DFW (08/08) 64,346.53 Gone for good (02/19)
    MFW (01/15) 83,748.02
    • sarahevie1
    • By sarahevie1 31st May 19, 3:40 PM
    • 531 Posts
    • 2,753 Thanks
    sarahevie1
    Paid the 10% deposit for my new BTL yesterday the solicitors would like us to complete on the 14th of June.

    Had a pretty frugal May 1208.35 spent.

    Target earnings 24260.44. Earned so far 12272.56
    Target expenses 15833.53. Spent so far 6293.17
    Home - Cash purchase 350,000 nov 2018
    Original mortgage free date Nov 2037
    Mortgage free August 2018

    Savings 105,000 (109,000 needed to complete on a house purchase.)
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