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  • FIRST POST
    • Youthgonewild
    • By Youthgonewild 20th Apr 18, 7:42 PM
    • 109Posts
    • 195Thanks
    Youthgonewild
    The MF pipe dream
    • #1
    • 20th Apr 18, 7:42 PM
    The MF pipe dream 20th Apr 18 at 7:42 PM
    Hi all.

    I!!!8217;m new to the site, only just signed up. Have read a few MFW threads and yes, MF is definitely where I want to be!

    A bit of background about me, I!!!8217;m 32 yo single parent with 2 young kids aged 5 and 2.5. I work p/t over 4 days a week and will probably look at f/t once youngest starts school.

    I got my mortgage 2.5 years ago (how time flies) and the debt then was £99875 - just found my paperwork. When the two year fixed deal ended (last november) I simply took up a 5 year fix with the same lender for the simple reason that I was doing some home improvements and didn!!!8217;t think my house was in any sort of fit state to have a new valuation done so I just went with the house value that I bought the house at. I still ended up on a better rate though - 2.27%

    I currently OP by £125 pm but recently I paid a lump sum of £500 towards the mortgage as well. The current figure stands at £95550 but interest usually gets added on to the balance around the 6th of every month

    I have 32.5 years left to go but really want to decrease that. I hope to be MF by the time I!!!8217;m 50ish. It!!!8217;s feels like it will be one long slog!!

    On top of this I have recently set up AVC!!!8217;s through my works pension scheme - only £30 extra pm. As the application hasn!!!8217;t been processed yet I have no idea what my wage slip will look like once it kicks in.

    Anyway I!!!8217;m in this for the long haul. Thanks for reading. Wish me luck!
    Last edited by Youthgonewild; 06-07-2018 at 9:56 AM.
Page 5
    • Youthgonewild
    • By Youthgonewild 6th Dec 18, 1:21 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Nothing much to report other than the interest has been added to my mortgage balance. Mortgage total = £90470.65. This time next month I will be in the 80s!!! Hurrah!!!!

    Other than that my spending has been astronomical lately. Most of it on essentials (car needed tyre punctures fixing, childcare costs, plus loads of other stuff). Still need to pay £8 for DS1's milk money at school. Garrrrr!

    Oh and DS1 has found one his Christmas presents....he is only 5 and already my cover has been blown! Trying to maintain the pretence that Santa is real and the present he saw isn't for him. It's one of his main ones so I'm a bit gutted. I think the plan going forward will be to hide it and give it him on his birthday in Feb instead. That way the magic of Christmas lives on.
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • monz
    • By monz 7th Dec 18, 8:42 AM
    • 3,555 Posts
    • 12,202 Thanks
    monz
    Amazing for next month!

    Aw no!!! The kids can sniff these things out I tell you xx
    Debt (1/9/14) £6,702.11 Debt free (30/11/2016) mum and dad £4,000/£4,000
    car PCP - £2,068.88/£11,848.25 mortgage - £81,130 o/s currently - paid £4,182.72 (£118.20 overpayment)
    Emergency Fund - £10/£500
    • Youthgonewild
    • By Youthgonewild 7th Dec 18, 11:40 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Thanks @Monz - I'm looking forward to it being a new year and a new decade of monies owing. I never thought I'd see the "8" at the front of my mortgage balance, I've owed 90k+ for over three years now!

    Yes, I should really hide my presents better in future. I could kick myself.
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • racken
    • By racken 7th Dec 18, 4:20 PM
    • 7 Posts
    • 3 Thanks
    racken
    Hello, only skimmed through these posts while I am looking for something else. Apparently I have been a member for 9 years yet this is my first post. Iím replying because years ago when Martin started out on TV he showed people how to be MF (mortgage free) within a couple of years. This may seem to mean not living life but it is true that the best things are free. I had already done as he suggested and have been MF for many years. I doubt there y any investment that will pay you more than your M (mortgage) as this would be a no brainer and everyone would be on it. Follow the scrimpers advice. Pay off what you can when you can. In my view credit is only good when it is yours or given to you. Owing is not allowed. Good luck. Benny. (Acronyms are obvious to all who know them)🤪
    • Youthgonewild
    • By Youthgonewild 17th Dec 18, 12:24 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Now That's What I Call 80s!!!
    Eeeeeek I can't believe it, folks!

    It's official! My mortgage is now in the 80s!!!! I'm so flippin' chuffed. My monthly mortgage payment went out today and the figure now stands at £89820.38

    On top of this, I made an overpayment at the weekend - which takes around ten working days to show up on the mortgage balance. The OP was for £400. I know some of you may think this is foolish so close to Christmas, but I bought my last present for my brother at the weekend and I'm well within my budget for the month. So I decided to use a combo of savings and surplus money in my budget to facilitate the OP.

    I know I was hitting a new milestone with my mortgage balance, but actually seeing it on my mortgage balance has had a huge positive psychological effect! It almost feels surreal. Since I took out my mortgage in October 2015, I've always had a "9" at the start of the balance. Can't believe I have paid £10k off, especially since I only started overpaying about a year ago. If I hadn't started OPing, I would still be owing approx £95500 at this point!

    Anyway I will stop waffling. I'm chuffed to bit, this has made my day! Have a good one everyone.
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • selloptape
    • By selloptape 17th Dec 18, 12:44 PM
    • 572 Posts
    • 2,814 Thanks
    selloptape
    Great milestone, 10k paid off is brilliant
    GC Start again in Apr £0/£278.61
    Save 12k in 2019 #8 £1842.65/£2,500
    MFiT T5 #22 Save £20k over 3 years
    Walk 1500 miles in 2019 - 404.93/1500
    • Youthgonewild
    • By Youthgonewild 17th Dec 18, 2:47 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Thanks Selloptape - it feels amazing!
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • monz
    • By monz 18th Dec 18, 7:45 AM
    • 3,555 Posts
    • 12,202 Thanks
    monz
    I think its amazing overpayment of £400 if anyone thinks its mad, they are silly. You know your finances and plan it all out and well done
    Debt (1/9/14) £6,702.11 Debt free (30/11/2016) mum and dad £4,000/£4,000
    car PCP - £2,068.88/£11,848.25 mortgage - £81,130 o/s currently - paid £4,182.72 (£118.20 overpayment)
    Emergency Fund - £10/£500
    • Youthgonewild
    • By Youthgonewild 18th Dec 18, 8:42 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Thanks Monz - I plan every penny out for the month to within an inch of it's life! Not that I'm anally retentive or anything....
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 3rd Jan 19, 8:42 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Happy New Year one and all!!! Hope everyone had a great Christmas.

    Ahhh, finally back at work today. Couldn't sleep at all last night I always have trouble trying to sleep when I know I've to return to work after taking time off.

    Nothing much to report, apart from Christmas was brilliant. Kids were happy with everything they got which is good. I plan on doing the same again this year, which is to buy things throughout the year. It seems to work out well, taking it in baby-steps.

    I did get some money at Christmas from my parents and my grandma. I'd also built up a tilly tidy(?) stash, so I managed a cheeky OP of £200 which I made on 31st December

    I have been playing around with the mse overpayment calculator last night (did I mention i couldn't sleep? ) and I have discovered by playing around with the figures that I have knocked 3 years off the term of mortgage already. And If I carry on the rate I'm at, I will have it cleared worst case scenario, in 14 years instead of the 32 it is currently at Obviously a lot can happen between now and then so I wont count my chickens just yet. It is thoroughly motivating though.

    Goals for this year:

    Get hallway decorated

    Overpay mortgage by £5000 (should be a doddle - touch wood)

    Eat less rubbish

    Pack up smoking
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 18th Jan 19, 12:28 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Ah where was I....?

    Ok, time to fill you in with the latest, if you've managed to bear with me til this point.

    I made a rather large OP about a week and a half ago. It felt a bit risky, but it definitely turned out to be manageable risk. In the meantime I broke my new phone!!! I have literally had it a couple of months (the last one had a cracked screen and ended up in my washing machine), but I dropped it on the floor at work. The screen didn't crack but I broke the OLED housing. At first there was a fine visible line of bright pixels going across the screen - phone still very usable. But as the days went on the picture was getting worse, the crystals all leaked out and my phone was rendered unusable

    I did consider that because I've only had it a couple of months, it would still be under warranty but I read online that the warranty doesn't cover accidental screen damage). I need a phone for work and being contactable for school, childcare etc so I had to buy a new one out of my savings. That set me back a bit.

    It is DS1 birthday next month so I put the deposit down for one of those soft play areas with the ball pits and big slides. He has invited 15 friends so that will set me back some more pennies next month. The deposit alone was £50. The kids dad has offered to pay half the cost so it hopefully wont be too costly.

    I remember reading a thread on here recently - I think the user was AFrayedNot - but I could be wrong. One tip they gave was to always have 000 at the end of your mortgage balance..... so when my mortgage payment went out on Tuesday, the outstanding balance was £88243.07. I called up the bank and OPed £43.07

    Current balance...... £88200.00
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 28th Jan 19, 9:36 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Ok, so here's the latest.

    It's my eldest sons birthday in Feb so as you may have read, I am doing a party for him at a soft play area. I have just bought a couple of his presents. He has started to take an interest in Science (which as I work in Physics please me no end) so i have bought him a couple of Science kits for kids. I bought them using a cashback website so I should get some pennies back there.

    He is also going to one of his classmates parties at the weekend. I need to buy the birthday girl a present. So February is going to be extremely spendy for me.

    I mentioned ages ago on here that I want my hallway decorating. The kids were with their dad this weekend, so I managed to make a start glossing the woodwork in the hallway. Still got loads to do but its a start. Looks brighter already. The kids dad has offered to help me out a little bit with it over half term which is great. It does however mean using the Childminder for both boys to keep them out of the way.... so more outgoings. It's the only way it will get done though so it's a small trade off.

    I set up a 5% regular savings account last year. It is due to expire in a couple of days and I should get the interest. I'm tempted to send the interest off as an OP (I'm hoping its in the region of £60-£80 interest) and I'm going to set up a new regular saver account at 5%. You can put up to £250 per calendar month in. Cant wait til pay day. It seems like ages away.....
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • jodles16
    • By jodles16 28th Jan 19, 7:54 PM
    • 1,425 Posts
    • 4,289 Thanks
    jodles16
    Hey youthgonewild,

    You are doing some amazing amazing work on that mortgage!! Hope your sons birthday doesnt work out too expensive and you get the hallway done quick!

    Great work with the 5% saver!

    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

    • Youthgonewild
    • By Youthgonewild 29th Jan 19, 11:34 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Thanks Jodles

    It always feels like there's a fine line between living in the now and investing for the future. I probably should be focusing on putting more into my pension....
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 31st Jan 19, 12:18 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Hi everybody,

    Well, my savings account matured yesterday and I received £80.58p worth of interest on it
    However I have decided not to put that towards an OP as I have too much to pay for this month. Pay day is 2 weeks away for me, and whilst I'm not impoverished, I'm below my usual comfort levels in my main bank account.

    I am going to set up a new 12 month savings account tomorrow as it will be 1st Feb. For some silly reason, I didn't have my brain in gear last year. I opened my 12 month savings account on 30th Jan..... then I realised you put savings in PCM and Feb only has 28 days.... so I'm not making the same mistake this year Missed out on a month's worth of interest.

    I had an almighty declutter of my wardrobes at home - there was items in there I haven't worn in over 10 years, all still nice and wearable, but just not my taste any more. I figured if I haven't worn them in such a long time and haven't given it much thought, I can't really need them. So I bagged it all up and took them to the charity shop along with some wooden puzzles my sons no longer play with.

    After my trip to the Charity shop, I took my box of odd change to the bank yesterday. Banked it and the grand total came to £19.90. Which has actually worked out well since I did a bit of shopping. Here's a break down of my spends for yesterday:
    • Car parking in town: £2.50
    • 2 packets of cookies from a well know pound shop: £1
    • A snack for me and DS2 and a drink each: £3.85
    • A birthday present for DS1s classmate: £5.50 (A bargain as it was half price )
    • A birthday present for my brothers partner: £7.99
    • 2 x small rubber dinosaurs (DS2 wanted one and I am a soft touch. He chose one for DS1 too): £2
    Total: £22.84

    As I used my £19.90 that I banked to purchase the above, I consider myself to only be £2.94 out of pocket. That's my theory and I'm sticking with it

    In all yesterday was a good day.
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 1st Feb 19, 9:37 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Ok, so I did as I said I would do. I opened a 12 month ISA thingy, that allows me to put it up to £250 pcm @5% interest. So today I have transferred £250 from my standard savings account to the 5% one. Feels good.

    Something else I did the other which I forgot to mention on here. I pay a DD for contact lenses. Its a tenner a month and I get sent a 3 month supply. I was having a clear out the other day and I suddenly just how many boxes of contact lenses I had, unopened. I have been wearing my glasses everyday for over 12 months now (must be more?) so I have accumulated boxes and boxes of contact lenses. I stopped paying for the solution years ago because I wasn't getting through it fast enough. Anyway I called up Specs@vers on Wednesday and asked if I could cancel my DD. They said they can freeze my payments for a maximum of 6 months before they will start the scheme back up again. They told me the payments would start again in July. So I will save £60 up til July which is good. They told me I cant freeze the payments again for a further two years though. I better start wearing my contact lenses again.
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 6th Feb 19, 10:49 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Hi all,

    I am posting from my phone so apologies if the formatting comes out rubbish.

    I'm off work today, though it is never really a day off as I have 3 year old with me and I'm always busy playing catch up with chores and life stuff.

    I'm nearly sorted for DS1's birthday on Monday. He found one of his Xmas presents a while back so instead of giving it to him at Xmas (and effectively ruining the illusion of Santa forever more) I have saved it for his birthday. It's at my mum's house (I eventually did hide it in December haha) so I need to pick it up at some point. I bought him a couple of kids science kits which I'm hoping are fun and pique his interest. Hope they pique mine too lol. I've reserved a couple of books at Waterstones too. He's taking an interest in Roald Dahl, so I've reserved The Twits as he has been reading it at school. Also he likes the Oi, Frog! Set of books. At home we have, Oi, Frog!, Oi, Dog! and Oi, Goat! which we love to read at bedtime. I have reserved Oi, Cat! at Waterstones. It was supposed to be £6.99 but it's been reduced by £2. I'll be picking both books up on Saturday.

    In other news, I have decided I want a new kitchen. I know, I know, I still have the hallway to finish off decorating. But I've found the most gorgeous, coolest tiles relatively cheap online so I ordered a sample and fell in love with it. As I'm only going to be tiling around the cooker and window, the tiles will cost around £70. I also went into Wickes on Saturday to look at worktops. Initially was look at some real wood walnut ones from Ikea for £150, but I realised it had 3mm of real walnut around the particle board and it said it needed sanding and treating with oil on occasion. I can't be bothered with the upkeep. So I went to wickes and fell in love in with a laminate worktop which would match perfectly with the purple tiles I want. And it's only £120 per worktop, and none of the maintenance . I'm gonna have another look at it, just to make sure I am certain of it. I have also renamed one of my ISA's to "I want a new kitchen" on my online banking app haha. It won't be completely new, just tiles, paint, worktops and I'll probably paint the existing cupboard doors if I can. Another large task to the list of never-ending home improvements....

    The interest got added to mortgage today. My balance was £88200 but they added £170.38. I called them up first thing this morning and OPed £170.38. Mortgage payment goes out next week, plus it will be payday. Can't wait! I love watching the balance fall, it's really satisfying. Also just had a letter through from United utilities, they are increasing my water rates by £1.20 per month might be worth getting a water meter instead.

    Right, enough of my waffling, I'm gonna get a brew then take 3 year old of to L!dl, need some bread and milk.

    Have a good day all x
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 6th Feb 19, 3:42 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    Well, as luck would have it I went back to Wickes today to take another look at the kitchen worktops. There was a sign up saying 30% off showroom worktops. I asked the guy in the showroom what are the T&Cs of getting the 30% and his response was you have to have a full kitchen fitted installed by Wickes.

    Anyway I'm at my mum and dad's house at the mo, just logged on the PC to show my mum the worktops I've been looking at and lo and behold, it says 30% off applied to basket. Added 3 lengths to basket and yep, it took 30% off the total

    I think I will definitely be making a purchase soon. Only went in at the weekend to have a browse. I think it's meant to be lol
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 7th Feb 19, 9:24 AM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    I bought the worktops!! I'm at that age in life where things like this make me seriously happy #sadsack

    Hmm, I got the price wrong in my post above though. I said they were £120, when they aren't. Some others I looked at were. These ones were £139. But with 30% off, I knocked £125 off the total (bought 3 lengths). As they are Wickes, I ordered them through Kidstart. Will get 1.3% back on there

    I was going to buy the tiles last night online - different company. I went to the checkout and they wanted £69 for delivery so i scrapped that. Have managed to find the same tiles elsewhere for £20 cheaper, and the delivery will only be £35 too Just to be on the safe side that it is an identical tile, I've ordered a sample. Wouldn't want a pallet full of tiles rocking up at my house that I end up hating.

    In all, I've got myself a bargain. I've had to pull money from my savings but I'm only really saving for rainy day fund/home improvements anyway, so I may as well crack on!
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
    • Youthgonewild
    • By Youthgonewild 11th Feb 19, 12:16 PM
    • 109 Posts
    • 195 Thanks
    Youthgonewild
    So today is DS1s Birthday. His little face this morning when opening his presents was a picture.

    Party yesterday was great, kids really enjoyed it. OTOH, I have spent what feels like an obscene amount of money this weekend, what with food shopping, extra presents I bought, birthday cake, final balance on the birthday party to pay off plus fuel in my car.... my account has taken a hammering.

    To top it all off, my car has a fault and needs taking into the garage on Wednesday Roll on payday at the end of this week.
    Mortgage balance October 2015: £99875
    Mortgage balance November 2017: £97583

    Mortgage balance November 2018: £90952.08
    Mortgage balance December 2018: £90470.65
    Mortgage balance January 2019: £88200.00
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