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  • FIRST POST
    • shopaholicnumber1
    • By shopaholicnumber1 20th Sep 19, 10:14 AM
    • 52Posts
    • 160Thanks
    shopaholicnumber1
    New Empty Nest Mum starts battle of mortgage ...
    • #1
    • 20th Sep 19, 10:14 AM
    New Empty Nest Mum starts battle of mortgage ... 20th Sep 19 at 10:14 AM
    I've lurked and read diaries on here for months to inspire me to start my mortgage free journey so hello!

    A little bit about me. I have been a single mum of 2 for the last 14 years and it's fair to say have struggled to the point where every one of the various boards has been a lifeline at one time or another. In 2008 (3 years single with a 7 and 9 year old) I had to start a DMP with some 45K of debt This was finally completed paid off in 2015 which was a huge relief!

    Next, I relocated from Derbyshire to Lancashire as my "partner" got a job there ... it was too soon and didn't work out. I rented out my house in Derbyshire but my children had made a life here and were doing well, so I sold it in 2018 and set about buying a new one up here. I opted for a new build (I know, I know!) as I needed the Help to Buy in order to get something big enough for 3 adults, a dog and a cat. Anyway, the developer only built 5 houses and, as it turns out, the build quality is really good and despite my reservations during the buying process, I moved in and fell in love with it (thankfully!) in March 2019.

    Within 12 months of moving north my "partner" walked out, leaving me with no permanent job and rent of 800+ per month. Perhaps stupidly we then tried again with my DS and I moving in with him again in late 2017 when my DD started university. This was even more disastrous than the first time -but did give me the opportunity to sell my Derbyshire house and save a little bit so not all bad

    I had to buy my new house in total secret and moved out one day while he was at work - leaving 95% of my possessions behind. The whole thing was more than a little bit stressful! I did feel guilty hiding something like that, but the relationship was emotionally and financially abusive and I needed to get not just me, but my children out of there and had a real fear of being out on the street with no family within 100 miles if I was upfront about it. Anyway, that's all in the past and now my little family have a lovely, sunny and happy home again :-)

    So, after 6 months of spending lots of money on setting up home again (at age 48 for heaven's sake!) and haemorraging money setting DS up for his first year at university I am finally in a position to start making small overpayments on the dreaded mortgage!

    DS was safely deposited at university last week (with a few tears from me) and DD will be deposited at her university tomorrow to start her final year (with possibly a few more tears!). She will be moving back though next May (yay!) and started a Teach First 2 year training course next September. My babies are learning to fly

    So, enough of my boring tale and to the financials...

    House price: 138,000
    Help to Buy loan: 27,600
    Deposit: 29,400
    Mortgage (March 2019): 81,000
    Term: 20 years
    Interest rate: 2.29% fixed for 5 years

    The plan:
    Goal 1: To overpay enough to be able to afford to remortgage at the end of the 5 year fix for enough to pay off the Help to Buy loan
    Goal 2: To overpay enough to finish the mortgage by the end of 2032 - 7 years early
    Goal 3: To increase my diminished emergency fund from 2500 to 8000 by the end of the 5 year fix
    Goal 4: To increase my pension contributions by 1% per year (employer contributes 7.5% so a decent enough scheme) so I can survive in retirement!
    Goal 5: To locate all my little pension pots and get advice on how best to sort them out

    Steps taken so far:
    1. 100 monthly overpayment set up to start asap (possibly too late for September payment)
    2. To get around to finding a local TSB branch to get them to sort out my access to online mortgage - awful, awful website that just won't accept my details!
    3. Pension just increased to 6% from this month's pay so my first tick done!
    4. Monthly standing order set up for 100 into savings pot, first payment set for just after payday this month
    5. Pension providers tracked down (I think!) and contacted. Response from one of them so far.

    I don't earn a fortune so things will be tight but I'm hoping that this diary - and reading all of your wonderful inspirational diaries will keep me on track during those times when I just want to give up! If you've got this far -thank you and well done!
    Last edited by shopaholicnumber1; 20-09-2019 at 10:32 AM.
Page 2
    • Whiterose23
    • By Whiterose23 30th Sep 19, 12:32 PM
    • 23 Posts
    • 30 Thanks
    Whiterose23
    It certainly does ... the few times I make a plan I wish I hadn't as I'm usually wrapped up with some hobby or another, or too tired to bother! :-)


    Just read your post re hairdresser; depending on how you have your hair there are some good tutorials online; I think I've saved a small fortune over the last few years cutting my own hair/fringe! (And nobody seems to notice or assumes I've been to the hairdressers ... or they're too polite to say!) :-)
    • shopaholicnumber1
    • By shopaholicnumber1 30th Sep 19, 12:38 PM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Hair
    I'm not sure I'm brave enough with the scissors I am growing it at the moment though (with half an eye on eventually just getting it sorted a couple of times a year!). It is a bit of an indulgence I know and one I shall give serious thought to in my new MSE mindset
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • shopaholicnumber1
    • By shopaholicnumber1 1st Oct 19, 8:56 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Morning all!
    Morning MFWers

    Bit of a non-update today. Yesterday was almost a NSD - just the cat food.

    Fish, potatoes and green beans from freezer stocks for tea - so not used to being cooked, eaten and cleared up before 7pm! Soooo much quicker for one!

    Watched the first episode of a new drama about the war that started on Sunday night - enjoyed it. I love autumn for that - its the only time we get decent dramas on TV!

    That's all for today folks - pretty boring really Have a lovely day!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • shopaholicnumber1
    • By shopaholicnumber1 3rd Oct 19, 8:39 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Nearly the weekend!
    Morning peeps

    I didn't post yesterday as am aware my diaries are a tad boring! They do keep me on track though and keep motivation levels up

    So, spending ... not too bad! 25 petrol on Tuesday night and a NSD yesterday.

    Had a work conference type thing yesterday which is always nice seeing people from other services that are miles away. But it was a bit death by powerpoint Added bonus was a 2 course lunch provided plus tea and coffee all day - so no freezer diving required last night!

    It was such a beautiful day (if a little cold) that I seized the opportunity to mow the rather damp lawn last night - am so pleased I did as the forecast today is awful with this Storm Lorenzo thing supposedly hitting later. Can't wait

    I also called Next last night as they had managed to completely lose a lamp I had ordered for DD's uni room for delivery to store (in the sale in true MSE fashion!) so that will now be refunded to me as DD has bought something else now.

    Should be a NSD today too

    Have a lovely Thursday folks - final slog to the weekend
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • shopaholicnumber1
    • By shopaholicnumber1 4th Oct 19, 8:34 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    It's Friday!
    Morning folks! Its Friday at last!

    Well, yesterday was NSD which I was pleased about. But Next still haven't credited my account so I'll have to call them again over the weekend

    I'm looking forward to the weekend. Hopefully it will be dry enough to take my pup on a nice long walk as she is really missing the DC's

    Have a lovely weekend MSEers
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • longway2go
    • By longway2go 6th Oct 19, 4:40 PM
    • 105 Posts
    • 248 Thanks
    longway2go
    How are you doing?
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • shopaholicnumber1
    • By shopaholicnumber1 7th Oct 19, 8:44 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    A new week ...
    Hi all

    Longway2go - I'm good thanks - had a really chilled weekend so ready(ish) for the new week How are things with you?

    Well, I had an "issue" I never anticipated at the weekend! Now the DC's have gone and all their remaining clothes, bedding and towels have been washed I found that I had 3 very small piles of knickers and socks and not enough to run a wash! I ended up stripping my bed and adding whites and coloured to that (as bedding is pale silver) just to justify running the washing machine! The first time in 21 years that I've not a) had 5 loads of washing to deal with and b) no ironing! I didn't know what to do with myself yesterday morning!

    On the spending front, Friday was a NSD, Saturday was my extravagance at the hairdressers so that was a bit spendy, but Sunday was a NSD too so kind of balances out. I do have to withdraw some cash today to pay for a work thing which is a bit annoying, but goes to a good cause (breast cancer research) and we get a pie and peas lunch thrown in, so I need to stop being to mean!

    I installed the YNAB app recently as I'd read about it on here, and am slowly getting my head around it. It is a totally different approach and I think it could work for me, but I'm so impatient it's hard to not budget money that hasn't physically arrived yet! Makes sense though (eventually!). We shall see how I get on with it
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • longway2go
    • By longway2go 7th Oct 19, 11:57 AM
    • 105 Posts
    • 248 Thanks
    longway2go
    Hi,

    A nice treat at the hairdressers is needed from time to time. I'm good thanks... Interested to learn more about ynab... How does it work and is the app linked to a bank account in anyway? Is it free?

    Have a good day. Just about to do an update of my own.
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • shopaholicnumber1
    • By shopaholicnumber1 7th Oct 19, 12:11 PM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    YNAB has a free trial for 34 days after that you need to pay - I'm a bit undecided as it's early days but will see how I get on! It doesn't link to your bank account in UK, but is really quick and easy to enter transactions so not too much of a hassle. Plus the app and the desktop site are linked to each other so any changes made on one are instantly changed in the other (if that makes sense!)

    I do feel a bit more in control of things, but will give it the full month before I decide - I'll let you know!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • longway2go
    • By longway2go 7th Oct 19, 12:13 PM
    • 105 Posts
    • 248 Thanks
    longway2go
    Thank you. I am finding monzo helpful for categorising spending and seeing where money actually goes so I can budget better... Wondering how similar it is.

    Have a good day.
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • shopaholicnumber1
    • By shopaholicnumber1 8th Oct 19, 8:06 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Morning all

    My daily update (to myself really!)

    I popped into Tesco on the way home yesterday as I needed some milk and some cash for work. I had a little browse in the ys section and -for once - managed to grab some bargains. Lovely chunks of stinky cheese reduced - Cambazola, Brie and Saint Agur - full price over 12 but total came to 3 exactly so I was well happy

    Brie was nibbled for my tea and the others tightly wrapped and popped in the freezer ready for Christmas - I feel ridiculously happy about that!

    I also did a proper freezer inventory - despite living out of it for the last 2 weeks, I still have 29 meals in there - without touching my DD's veggie stuff so I have literally no excuse for blowing the grocery budget this month!!

    Didn't do much last night (apart from eat brie!) as I was on-call and had to take a few calls up until about 2am so feeling a bit tired this morning

    Have a lovely day MSEers
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • longway2go
    • By longway2go 8th Oct 19, 1:04 PM
    • 105 Posts
    • 248 Thanks
    longway2go
    Well done on your bargain finds and the freezer inventory it's surprising how much food we do have without having to get more isn't it.

    Have a good day.
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • shopaholicnumber1
    • By shopaholicnumber1 9th Oct 19, 8:04 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Morning all. I had another early wake up thanks to the torrential rain but onwards and upwards ...

    Yesterday was a bit of a spendy day, I ordered some Christmas presents and wrapping paper (through Quidco so some cashback to come). I do have a pot for Christmas spends so it has come out of there, but still a bit of a spend although I do feel unusually organised!

    Had a lovely long chat with DD last night which was lovely. And DS texted to say he had booked a train to come back for a weekend at the end of the month - so a really fab family news day yesterday. Can't wait to see my boy

    I'm also going up to Newcastle in November to see DD, I've booked a hotel overnight so that will be a bit spendy too - but worth it! (I couldn't face the idea of spending a night in a student flat with 4 others even though she offered!). Something else to look forward too so I'm feeling all familyed up today and happy!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • savingholmes
    • By savingholmes 9th Oct 19, 8:51 PM
    • 9,840 Posts
    • 19,692 Thanks
    savingholmes
    You sound like you are doing really well. Seriously impressed with the 29 meals in the freezer!
    Target DFD Mar 21 Nov 20 38840 @ 13/7/19 26,881 @0%
    Target MFD July 2031 March 28 owe 145551 @13/7/19 145,180 @1.7%
    • shopaholicnumber1
    • By shopaholicnumber1 10th Oct 19, 8:12 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Savingholmes - I'm actually horrified! There are about 5 different lots of lasagne where I've just made another one instead of checking what I've already got! But must agree that a month without having to cook after work is a bonus

    On money matters yesterday was another NSD and today should be the same. Such a change to the "old me" that would flash the debit card on an all too regular basis - having a NSD feels good

    I'm in the mid-month lull with no funds going in (or out luckily!) so all a bit boring really.

    Am loving YNAB - can't stop fiddling about with it I'll probably bit the bullet and pay the fee when the free trial ends although it feels a bit against the grain ... but if it works, it works!

    Nothing else to report really, quiet night in (as usual) - really must get out a bit more but I like snuggling up in my pyjamas too much
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • shopaholicnumber1
    • By shopaholicnumber1 11th Oct 19, 9:13 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Hello all nearly weekend again

    Last night I did something I have never done this early before - I wrapped the Christmas presents that arrived from my order earlier in the week I will most likely run out of steam and still be frantically wrapping things on Christmas Eve but to have even thought about it is a major change for me! For the first time in years I'm really looking forward to it.

    Historically I've found Christmas really hard. I've struggled to afford it and found the relentless images of the "happy traditional family of 4 plus a dog round the elegant Christmas tree" really difficult to handle. I made it as good as I could for the kids and thankfully they never noticed the lack of enthusiasm on my part, but in my dark days of mega-debt it knocked me backwards every single year. Societies pressure on you to enjoy Christmas is just huge and not everyone does.

    Last Christmas was - shall we just say - a total nightmare. My DD hated living with my ex so much that she stayed at university just going to her Dad's for Christmas Eve/Day so that was truly horrible. Plus I was almost at the end of secretly buying my house so the whole thing was very strained. I worked as much over Christmas as I could to get me out of the house, but then worried about DS (although he was holed up in his room on the Xbox so actually as happy as it was possible to be).

    My ex had a terrible relationship with money and expected me to pay for far more than I could afford (a ridiculous amount of food for his parents who turned up and stayed FOR 2 AND A HALF WEEKS!!), all the presents, the copious amounts of alcohol that they all drank (his dad has whisky for his "Scottish" breakfast - and I'm being serious!) so gets through a bottle every day and his mum who got through a bottle of prosecco a day and several bottles of gin over the holiday. His mum came with me to the supermarket for the final shop - I had budgeted around 50 for the last bits and bobs - she said I was "being scrooge" and kept putting endless stuff in the trolley. When we got to the checkout it came to over 300 on everything from fancy olives to macaroons to liquers. She did offer to go "halves" with me (thank goodness!) but I felt trapped into funding this appalling and wasteful excess - especially when you bear in mind this was the "bits and bobs/fresh stuff" shop and we had a house full of stuff already! A disgraceful amount went in the bin in the end, but an equally disgraceful amount was consumed - it was so unnecessary.

    It was a truly, truly awful time that I don't want to remember or ever repeat.

    So this year is special. Both my children will be home, I'm in a much better position financially and can spend what I can afford which means enjoying it without worrying about getting through January (which contains DD's 21st birthday so will have some cost attached!).

    Anyway, enough rumination and whinging from me! In financial news, nothing to report really. A NSD yesterday but a few bits to pick up from A1di on the way home tonight and then a glass of something nice snuggled up with the pooch listening to the endless rain! Hope its a good weekend for you all
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • longway2go
    • By longway2go 12th Oct 19, 6:26 PM
    • 105 Posts
    • 248 Thanks
    longway2go
    Wow, they sound like a horrible family.

    Well done on your early wrapping, it is definitely nice to get a little bit ahead if you can. I find I spend less this way as not frantically trying to find something, and just grabbing wrapping paper and cards at whatever cost.

    Hope you are enjoying your weekend.
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • shopaholicnumber1
    • By shopaholicnumber1 14th Oct 19, 8:04 AM
    • 52 Posts
    • 160 Thanks
    shopaholicnumber1
    Morning - let the shiny new week begin!

    Over the weekend I made a right mess of logging into MSE - cannot seem to do it on my phone and managed to block everything so had to wait to get to work to post anything (even though it's a bit boring anyway!). Hopefully sorted out now though

    Friday I stopped at A1di - 26.54 spent but that was it for the weekend so all good

    Felt a bit iffy over the weekend so a super quiet one except a friend came over on Saturday night which was nice to have a glass of prosecco and a natter.

    11 days til payday - am looking forward to playing with YNAB and making my second OP - how sad am I
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19)
    • longway2go
    • By longway2go 14th Oct 19, 9:07 AM
    • 105 Posts
    • 248 Thanks
    longway2go
    Hope you are feeling a bit better now.

    I have downloaded Ynab and am also looking forward to a full pay cheque to see how things work out lol
    Mortgage - 161K

    Overpayments to commence when mat leave finishes. Making a better life for our children 😁

    • augustaliliana
    • By augustaliliana 14th Oct 19, 9:19 AM
    • 1 Posts
    • 2 Thanks
    augustaliliana
    great
    It is wonderful
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