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  • FIRST POST
    • greent
    • By greent 26th Mar 10, 1:46 PM
    • 8,020Posts
    • 81,306Thanks
    greent
    greent's mfw journey
    • #1
    • 26th Mar 10, 1:46 PM
    greent's mfw journey 26th Mar 10 at 1:46 PM
    Afternoon all!

    I have been inspired after reading lots of the diaries on here to join in.

    Background: OH and I are both 40. Have 4 children (12, almost 10, 4 and 10 months) OH was made redundant twice last year and recently started working as a contractor on a daily rate (4 month contract, may be extended a little) - so we now have a limited co of which we are both directors. I no longer work. We have a BTL property on which we have an interest only mtge and will clear that by selling the property (only bought for capital gain, not income, purposes) BTL property has long term tenant in. Rent covers mtge and buildings insce and repairs/ renewals with a small excess - but not much.However, it's on a fixed rate and takes care of itself.

    MFW relates to our home. Bought in Oct 2005 for 277k, 130k mtge over just under 16 years (kept previous end date) Since then we have added a further 30k to the mtge for a loft conversion (needed due to the no of children!!) that cost approx 35k. We have also spent 20k+ on a bespoke fitted kitchen and building work - but financed that from savings/ income. And decorated and new carpets (previous owners ran out of money and had to sell, so place was full of stuff to do, even though it's still only 11 years old!) Some overpayments have been made, as can be seen from the overall balance.


    OUr mtge is with C&G. I have a statement for balances as at 31/12/09:
    (Balance as at 31/01/2009 was £124 616, so we reduced the balance by just under 20k last year)
    Sub Account 01
    Term remaining 12 years and 7 months.
    Fixed rate 4.79% - until 30/09/10
    Balance £79512.27

    Sub Account 02
    Term remaining 13 years 1 month
    Fixed rate 3.99% until 30/04/11
    Balance £25423.78

    Sub Account 03
    Term remaining 12 years and 7 months
    Fixed rate 4.79% until 30/09/10
    Balance £33.32


    TOTAL BALANCE: £104969.37

    We can repay by 10% a year without incurring penalty fees. We pay £1074.94/ month - this includes an element of overpayment, but I'm not sure how much (we didn't reduce our monthly payments when we paid off £12500 after DH was made redundant the first time)

    My first step is going to be repaying Sub Account 03 We are with C&G, so I will phone them up about this. I can also afford to repay £4k to £5k from sub account 01, I think - but will leave that until after a meeting with our accountant (we are not sure yet exactly how much OH will be paid from the linited co)


    I'm kind of looking for advice/ ideas, I guess... Would posting an income/ expenditure budget be an idea?

    greent


    ETA: We don't have any other debts. CCs are used (Tesco ones for Clubcard points for rewards) but are paid off in full.
    Last edited by greent; 25-05-2010 at 10:41 AM.
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/18 £54829 2019 OPs (#18) £1603.41/£5K
    Net sales 2019 £70.17/£500
Page 105
    • Karmacat
    • By Karmacat 8th Apr 19, 8:32 AM
    • 31,284 Posts
    • 184,112 Thanks
    Karmacat
    You sound like you have it all well in hand, greent - as usual, my flabber is gasted by what you accomplish Hope the Easter break goes wonderfully for you.
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • greent
    • By greent 12th Apr 19, 11:24 AM
    • 8,020 Posts
    • 81,306 Thanks
    greent
    So I've done my car insurance...… £996!! I could have got it cheaper from one other insurer but it meant a black box being fitted to my car for the whole year (previously had one for 3 months) - it's MY car, I'm the main driver and the students literally drive a couple of hundred miles/ year in it, so I'm not having MY driving monitored by a black box all the time!! However, I obviously went through tcb and also the small furry creatures, so have movies/ food deal for a year (must download and check out the app) I could have got an extra £7 cashback going direct to the insurance co from tcb, but figured the movies/ meals option should hopefully be worth more than that!

    Almost a week into the Easter hols for the small people.... weather was awful at start of week, but so much nicer now. Some homework has been done (still some left....) and much tidying/ sorting/ cleaning in DS2's room done (almost there!!!) - resulting in things to DS3/ CS/ recycling/ bin (including a lot of dust emptied form the vacuum!) We also spent an afternoon up the hill and will do that again next week, weather permitting - but wearing more suitable shoes next time!

    I'm expecting an aunt to visit either today or tomorrow so no real plans - except I must go and buy something specific food-wise for DS2 before dinner time! - if I haven't heard from aunt as to when she's planning on visiting I shall nip out this afternoon.

    DS1 is being collected by OH tomorrow. DD, however, is not coming home until Sunday, as she is out with friends tomorrow night. 'twill be nice to have them all back home for a while

    Much grumblings have been going on this week in regards to my Nan's deputyship stuff. One uncle has expressed an opinion that he doesn't think my mum (eldest child) or I should be on it. He doesn't want to be, but thinks it should be children number 2, 4 & 5 (he's 6, 4 is dead) Child 2 is anyway (along with child 1 (my mum) and grandchild 1 (me) I'm on there basically to sort all the paperwork out and ensure records are kept properly/ submitted and deal with all banking and other institution issues. Only finance - nothing to do with my Nan's welfare. Child 5 originally said fine but has now said they want to be party to it - argh! Whilst they can say this to the CoP, it means more forms, probably an additional amount of time - and certainly more costs on an ongoing basis..... Plus they (child 5) are terrible with money and we've applied for joint and several deputyship from a point of ease (both my mum and child 2 are prone to taking lots of holidays....) I feel like walking away from it all and telling them they can start again.... grrrrrr It affected my sleep for 2 nights, too.

    Anyway, enough of all that - it's a lovely day and I shall concentrate on the sunshine and the lovely children here

    xx
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/18 £54829 2019 OPs (#18) £1603.41/£5K
    Net sales 2019 £70.17/£500
    • Moneyfordreams
    • By Moneyfordreams 12th Apr 19, 11:40 AM
    • 1,254 Posts
    • 6,128 Thanks
    Moneyfordreams
    I feel your pain with the CoP… we were able to speed through mums LPA just before her memory went completely of recent years. my sister who I don't speak to, who now mum lives with, went bananas when I was lead... I have walked away sadly from all of it, however it gives me peace in general but lots of mother guilt . My Brothers last year decided as sister sold mother's house we as sisters "had mum over".... load of old tosh from poor money management blokes who wanted a bigger inheritance. Anyhow I don't believe sister would "have mum over" as much as we have a sour relationship.

    ouch to car insurance but I suppose as a family plan its good
    Mortgage restart June 2018 £119950
    Feb 19 mortgage £112650, £4850cc, £6500, £1489, car £7550 (holy cr@9 )
    • Karmacat
    • By Karmacat 12th Apr 19, 2:53 PM
    • 31,284 Posts
    • 184,112 Thanks
    Karmacat
    Why on earth does child 6 not want child 1 to be on it (your mum?) I can understand the *theory* of not wanting a grandchild to be on it, but theory should give way before practice/ skills/ reality! And No 5 isn't great with money? Ug. It was bad enough with the three of us, in terms of how long the admin took, even though we were literally in agreement about every step, for my mum's probate. Though there were lots of admin things I let slide, for the sake of family peace, certainly worth the £1 - 2k they may have cost. So sorry to hear it's affected your sleep

    Lovely that your own children are such a positive presence in your life
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • greent
    • By greent 14th Apr 19, 8:38 AM
    • 8,020 Posts
    • 81,306 Thanks
    greent
    Petty in-family fighting...… never fun Child 6 does admit that I'm the best person to handle all paperwork, though - but I'm not willing to handle it all on an ongoing basis without an element of control over what goes on - I'm not picking up possible future messes someone else has made. Super fab news, though is that my Nan has been awarded funding for her care home place, due to nursing related needs - meaning the cost has gone down from over £1k/ week to just over £200/ week! Things are much more relaxed now from a finances pov - she had enough money before to fund around only 6-7 years of care - now her pensions alone make up enough to fund the balance - meaning the capital won't need to be touched much, if at all (not that I care if it all got spent - just as long as there was enough to fund the rest of her life - now she could live forever and it be ok!!! )

    Anyway, DS1 is now home for his 3 week Easter break - and so far I have done 2 full loads of his washing and another is currently in the machine.... with one more to go after that (plus a lab coat which I'll save for a hot whites wash when one is next needed) OH went to collect him whilst I stayed home with smaller 2 - he (OH) was disgusted at the state of DS1's room and the communal kitchen - spent almost 2 hours cleaning and tidying with DS1 - and that wasn't sorting other people's mess! I can see we're going to end up doing what we did with DD's communal kitchen in Y1 - she was the last to leave (only by hours) and everyone left food/ rubbish/ washing up/ crockery/ cleaning items in the kitchen - took me 4 hours to get it looking passable with DD's help - and she had already started earlier that day. DS1 is likely to be the last to leave his Halls as his course doesn't finish until mid June. With DD's though, I did gain some food items and cleaning items (about 6 half used bottles of w-u-liquid, for starters)- and a couple of lock and lock boxes which looked like they'd never been used

    DD is due home later (was out partying last night - so not until mid/ late afternoon!! ) - am hoping she'll just have a couple of days worth of washing with her!

    Looks like a beautiful day here (good job with all the washing I've got! )
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/18 £54829 2019 OPs (#18) £1603.41/£5K
    Net sales 2019 £70.17/£500
    • Karmacat
    • By Karmacat 14th Apr 19, 8:42 AM
    • 31,284 Posts
    • 184,112 Thanks
    Karmacat
    Sorry about the petty in-fighting in extended family but wonderful news about the funding for your nan - not worrying about the money lasting is a real gift. And oh, you poor things with the cleaning for the students! Good luck!
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    • Lois_E
    • By Lois_E 14th Apr 19, 8:55 AM
    • 2,070 Posts
    • 15,080 Thanks
    Lois_E
    Feeling your pain with the washing, greent. I have a mountain of washing going on in my house too.
    Starting again 13/4/19
    Home loan 1: £21,102.50 Home loan 2: £7,698.99
    Total owed: £28,801.49
    • apple muncher
    • By apple muncher 14th Apr 19, 12:58 PM
    • 8,631 Posts
    • 66,236 Thanks
    apple muncher
    More washing = more ironing = happy greent, no?


    So glad nan's funding has been given. We were able to buy a life-long plan (that we can add to when needs change) and not having to even think about the money has been liberating.
    NST April Spring #7; NSD 2/12; Ex 12/16; craft (12); remove 5 bagfuls (14)

    Mortgage £16,231 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143; 01/19: 18.275) MFWDate???
    • greent
    • By greent 15th Apr 19, 4:22 PM
    • 8,020 Posts
    • 81,306 Thanks
    greent
    The washing machine decided to stop working yesterday - thankfully, trusty repair firm could come out this afternoon and fix it (£48 - min fee) I may have to bite the bullet on this and get a new one - this one is only 4 years old (less a few days) though

    Since the repair man has been I have done 1 load, with another just about to go in and then we are off out for dinner for DS1's bday

    I have masses of ironing right now, apple...…

    And am very grateful that my nan's funding is basically sorted forever and ever now
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/18 £54829 2019 OPs (#18) £1603.41/£5K
    Net sales 2019 £70.17/£500
    • chumpy45
    • By chumpy45 15th Apr 19, 7:25 PM
    • 402 Posts
    • 1,764 Thanks
    chumpy45
    Great news on your nan's funding, really pleased to hear that news for you. Had to have a little chuckle at the washing machine. I suspect my machine and your machine would share similar stories if they got together! I finished a big pile of ironing this afternoon, and think (whispers very quietly) that I have caught up for the moment. Enjoy the hols with all your chicks home to roost x
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017; :) 06.08.18 £24,769.47 01.11.18 £23,825.00 22.01.19 £21,990.00 06.02.19 £21,200 03.03.19 £19,862.93
    • teapot2
    • By teapot2 15th Apr 19, 9:46 PM
    • 2,030 Posts
    • 7,427 Thanks
    teapot2
    Good news re your nan's funding, that will make a huge difference. What a pain re the family in-fighting though, sounds like you deffo need to stick to your guns otherwise as you say, there will be other's mess to clean up
    • brizzlegirl
    • By brizzlegirl 19th Apr 19, 9:24 AM
    • 652 Posts
    • 4,396 Thanks
    brizzlegirl
    Echo what others have said re the wider family. Tough times but pleased about the care award. As it should be.

    Best shake a feather and change some beds and put a load on. Hope your WM starts to behave itself too

    X
    MFW..aiming to pay it off in 2022.. 2019 Savings Rate - Goal 40% [ 31% Feb 54% March ] 2019 Income Goal £71/£750 April Goals: AFDs 4/25 Decluttering 04/60; LSDs x/10; NSDs x/10 Exercise in April RT 10k, 3/15 12k steps per day pls Aiming to be a true Frugalista!
    • newgirly
    • By newgirly 19th Apr 19, 9:59 AM
    • 6,692 Posts
    • 46,452 Thanks
    newgirly
    What a relief your Nans funding has been sorted long term now, well done sticking with it despite the issues
    MFW 21

    £75,073.14 left, target £10k/ £3926k in 2019
    • greent
    • By greent 20th Apr 19, 9:30 PM
    • 8,020 Posts
    • 81,306 Thanks
    greent
    What a lovely weekend! OK - we've ended up with a car bill for next week (OH's window mechanism has broken and won't go up or down - friend got it back up by removing inside of car door but it's not really secure at the mo...) but the rest so far has been good. Yesterday DS3 spent the day at a friend's and DS1 at his gf's. OH and I went to the shops and bumped into family from about 20 miles away so had a catch up ahead of a family wedding next month and I did a (little) but of gardening and then OH, myself and DS2 watched Dr Strange last night Today I painted another 4 panels of fence and touched up some other areas (used a whole pot of fence paint) and OH and the boys mowed, strimmed, dug up weeds, trimmed hedges, dug up old woody (and basically dead) plants and I potted up some bedding plants which have now grown enough and also been out uncovered day and night for a couple of weeks, so hopefully hardy enough. I got rid of a couple of good sized items on fb00k for free, sold some of DS3's outgrown clothes (funds to hol fund) and have advertised a large item from garage on fb00k and have loads of interest I also turned a pair of DS2's torn trousers into shorts - which he loves

    Tomorrow we plan a BBQ in the forest with friends - we had planned a roast leg of lamb full-on Easter dinner - but it's waaaay too hot for that! The lamb will keep for several more days - or can be frozen, after all.

    DD and DS1 are both out with school friends tonight (different groups - and in 2 different Weathersp00n pubs in town ) - which is lovely All of DD's VIth form school crowd have made it out today - unusually

    Feeling pretty good right now

    Hope everyone is having a lovely BH weekend xx
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786 12/18 £54829 2019 OPs (#18) £1603.41/£5K
    Net sales 2019 £70.17/£500
    • apple muncher
    • By apple muncher 21st Apr 19, 6:43 AM
    • 8,631 Posts
    • 66,236 Thanks
    apple muncher
    Sounds just like a perfect bank hoiday weekend !
    NST April Spring #7; NSD 2/12; Ex 12/16; craft (12); remove 5 bagfuls (14)

    Mortgage £16,231 (01/14: £78,201; 01/15: £59,629; 01/16: 39,915; 01/17: 27,295; 01/18 23,143; 01/19: 18.275) MFWDate???
    • kaycastle
    • By kaycastle 21st Apr 19, 7:06 AM
    • 89 Posts
    • 178 Thanks
    kaycastle
    Good news for your nan

    Ugh communal kitchens at uni were horrible. I was so glad to be out and with my own kitchen.
    Us clean students do a few clear ups at first and then just give up. I just ate noodles and sandwiches and returned to own room to eat. It was impossible to cook without having to spend ages cleaning up after everyone.
    And then if any of you tried to get together to discuss it and cleaning up after one selves, the dirty people would just say you're being awkward. Ughhh. I wasn't even that tidy myself back then but I believe in wiping sides and washing up. Ugh I always wonder how those people live now.

    So relieved for communal living to be over.
    Oct 2017: £228,041.09
    Feb 2019: £215,765.98
    March 2019: £214,209.62
    • Karmacat
    • By Karmacat 21st Apr 19, 9:22 AM
    • 31,284 Posts
    • 184,112 Thanks
    Karmacat
    That sounds a wonderful few days, greent, everybody doing good things separately and together. And we're only halfway through the BH! Long may it continue
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
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