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  • FIRST POST
    • shopaholicnumber1
    • By shopaholicnumber1 20th Sep 19, 11:14 AM
    • 83Posts
    • 244Thanks
    shopaholicnumber1
    New Empty Nest Mum starts battle of mortgage ...
    • #1
    • 20th Sep 19, 11:14 AM
    New Empty Nest Mum starts battle of mortgage ... 20th Sep 19 at 11:14 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 11:32 AM.
Page 3
    • shopaholicnumber1
    • By shopaholicnumber1 14th Oct 19, 10:25 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Hi both - feeling loads better, just the normal Monday morning blues now
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • shopaholicnumber1
    • By shopaholicnumber1 15th Oct 19, 9:20 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Another day another dollar!

    Yesterday wasn't a NSD as I needed petrol Only a month ago I wouldn't have given that any thought but I'm a changed woman and hate having to spend anything! Running the risk of becoming a real scrooge here

    Quiet night as usual pottering about and doing more of my embroidery. I'm not far off finishing but the rest is just green leaves so a bit boring - dying to get it finished though as it is the first of two pictures for my bedroom which currently is a sea of magnolia paint with nothing at all on the walls! I wanted to catch up on World on Fire but there are so many subtitles that I can't really embroider while I watch as I keep missing bits which is annoying

    Should be a NSD today which makes me happy

    Have a lovely day MSEers, my usual boring update will follow tomorrow!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • shopaholicnumber1
    • By shopaholicnumber1 16th Oct 19, 9:20 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Morning all

    Had a bit of a head mashing day at work yesterday so was well and truly ready for home and a glass of vino.

    Cooked ys pork loin and used up a slightly crinkly pepper, going soft tomatoes, floppy courgette and on-the-verge-of-dodgy onion with a baked potato - was really tasty and the veg looked fine once it was cooked! Had two loins and cooked two potatoes while the oven was on so I have a fully plated up meal for tonight that will only require a few minutes in the microwave.

    Sad person that I am, while I was eating I worked out the approximate cost of each meal and it came in at 1.04 which I am pretty pleased with

    Yesterday was a NSD and today should be too so the frugality continues

    I was thinking yesterday about over-paying my sofa to get it out of the way. Its on interest free credit though so not sure if that makes as much sense as throwing the extra at the mortgage. My thinking was, if I could pay it all off within 12 months (instead of the 3 1/2 years thats left), then the original payment (29.21) plus the overpayment (70) could go to the mortgage... putting it down in writing it doesn't really make financial sense, but psychologically it does. Not sure what to do now so any thoughts would be welcome!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • shopaholicnumber1
    • By shopaholicnumber1 17th Oct 19, 9:11 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Daily update for my own thinking ... have decided it doesn't make sense to pay off a very affordable 0% finance deal. The money would be better going to the mortgage or savings as it'll be paid anyway before I need to remortgage to clear the Help to Buy. Happy now decision is made!

    Had to stop at A1di on way home for cat litter and milk so wasn't a NSD in the end

    Made a lovely mushroom risotto for dinner but was so full after that I felt quite ill! Caught up on GBBO - I love that show. I boycotted it when it first moved to C4 and now I'm cross I missed a series!

    In the midst of boring mid-month nothingness - no bills going out but no pennies coming in either so frustrating as I'm itching to do my November budget on YNAB! Note to self ... I need to get out more!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • shopaholicnumber1
    • By shopaholicnumber1 21st Oct 19, 11:48 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Thought I'd post again (couldn't be bothered ranting on to myself on Friday!).

    Anyway, had a rather strange and unpleasant weekend. Ex was in touch and I agreed to meet him on Saturday. An hour later and a horrible row I left but then couldn't settle all weekend. Shut myself away in my bedroom with the dog all day Sunday just in case he appeared on the doorstep. Feel a bit pathetic, but he really rattles me.

    Then I got into work this morning to find the heating has broken - my office is already absolutely freezing so it's unbearable today :-(

    Anyway, feel generally down and miserable (and cold!). Not helped by the fact that I spent pointless money in the pub on Saturday as I wanted to meet him somewhere neutral :-(

    Oh well, onwards and upwards I suppose.
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • longway2go
    • By longway2go 22nd Oct 19, 8:51 PM
    • 124 Posts
    • 284 Thanks
    longway2go
    Hey,

    Sorry to hear you had a bad weekend and hope you are feeling better. Don't worry about the money you spent at the pub just think that at least now you are aware of those spends which maybe you wouldn't have been previously.

    Hope you are feeling better and you have heating at work again.
    Mortgage - 161K

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

    • shopaholicnumber1
    • By shopaholicnumber1 23rd Oct 19, 9:38 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Thanks Longway2go, feeling a lot calmer today despite not sleeping very well again last night. I think I was doubly annoyed that I have been sooooo careful with money this month that it was such a complete waste of money - especially as I didn't even eat the meal in the end because I left! On the up side, because I've been so careful it hasn't caused any hardship so there is a positive to focus on!

    In other money news, not a lot to report. I've done an online shop for delivery on Thursday in preparation for DS coming home on Friday! Am so excited to see him I have spent more than I have been doing as I want to treat him to a couple of meals that there is no way on earth he would be able to afford (or know how to cook!) so we are having a stir fry (he could manage that one, but loves them!) and a steak meal on Saturday - with puddings both nights which is a rare treat for me! Thanks to Mr T sending me a voucher for old unused delivery pass credit it saved me 31 on the shop (hence the extravagance and home delivery!) so really didn't affect my frugal budget in the end

    I've also had 13.55 back from Qdco today so that has gone straight in the Christmas pot. No more spending this week and I'm actually getting to payday on Friday with money still left! Am chuffed to bits

    Still looking forward to payday - not because I'm broke for once, but because I'm dying to get my hands on my YNAB budget and fiddle around with it I'm just so impatient!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • longway2go
    • By longway2go 23rd Oct 19, 9:59 PM
    • 124 Posts
    • 284 Thanks
    longway2go
    Have you got it linked up with your bank account?
    Mortgage - 161K

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

    • shopaholicnumber1
    • By shopaholicnumber1 28th Oct 19, 11:00 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    I'm back online after two days of Norovirus followed by a really lovely weekend with DS at home :-) Am a happy mum!

    Managed to not spend too much 35.26 which included a trip to Macdonalds for the boy! I did have to transfer him 300 though as his budgeting skills leave a LOT to be desired! Oh well, it's come out of his driving lesson pot so hasn't knocked my own budget about to badly - although I'll have to replace it before next summer of course

    Mortgage OP and savings went out Friday and today so will update signature to reflect this - not a huge amount off, but it's in the right direction.

    I also bit the bullet and signed up for YNAB - $83.99 for the year so not sure what that is in GBP but am hoping it will save me that and more over the next 12 months - and of course I can budget for it now I have the app! You can't link UK bank accounts to it unfortunately, but once it's set up it is really easy to pop the transactions in that it doesn't really need to.

    Anyway, have a lovely week MFWers! And keep warm
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • shopaholicnumber1
    • By shopaholicnumber1 1st Nov 19, 12:06 PM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Pre-weekend post - not a lot to update as it's been a quiet week and, fortunately, not particularly spendy.

    YNAB is confusing me a bit I put a few spends on the credit card in October and some will be on a bill due mid November, the rest due in December. I have the funds to pay each bill off in full when it's due (but not all at once), but I'm struggling to get it all to make sense on YNAB. I've read and re-read their blogs and instructions and am so frustrated as I just don't get it! I was hoping that the start of a new month would work some kind of miracle and work it out but it hasn't. I am determined to make sense of it! Even (briefly!) considered raiding the Christmas savings pot to pay the stupid thing off so it's all neat and balanced again

    Hope everyone has a lovely weekend :-)
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • paddyz
    • By paddyz 1st Nov 19, 12:42 PM
    • 102 Posts
    • 560 Thanks
    paddyz
    Sounds like you are going to do a fantastic smash of your mortgage and getting on with the single life and control over yourself and your future

    It’s all quite similar to myself, I’m 53 and even though I have my bad days I know how I want to see myself in the next 10 years. Good luck
    Mortgage start Oct 12 104,500
    current Nov 19 56,290
    term 9 years aiming on being mortgage free by 7
    Weight Up & down 14st 7lb
    • shopaholicnumber1
    • By shopaholicnumber1 1st Nov 19, 1:25 PM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Thanks Paddy! Totally know what you mean about the longer term plan! Just keep plodding!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • longway2go
    • By longway2go 2nd Nov 19, 4:07 PM
    • 124 Posts
    • 284 Thanks
    longway2go
    Hey,

    Hope you are having a good weekend.

    In relation to ynab I have had a look at some videos on YouTube which has been really helpful and think you can live chat via the help function which might help.
    Mortgage - 161K

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

    • shopaholicnumber1
    • By shopaholicnumber1 4th Nov 19, 8:58 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Thanks lwtg - I'll check them out as still confused - have abandoned it for now as the bill is due next week so will see what happens when it's paid!

    Had a good weekend too. Took a trip to a new house shop that's opened near me. In the old days I would have done some serious damage to the credit card but I resisted and didn't buy a single thing! Was so tempting though! So despite the temptation I managed NSD's Friday, Saturday and Sunday! No need to buy anything today so a good start to November!

    Anyway, had better do some work on this dark and drizzly morning - have a good day
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • CrowdieSaver
    • By CrowdieSaver 4th Nov 19, 6:23 PM
    • 44 Posts
    • 175 Thanks
    CrowdieSaver
    Hi there

    Just wanted to pop by to offer my support - I'm also a single mum of 2 (+ 2 dogs!) determined to pay the mortgage off as soon as I can. It's a long hard slog at times, but we can do this!

    I've enjoyed reading your diary so far, good luck with your journey!

    CS x
    Mortgage at Jan 17: 60,000. Mortgage now: 51,248 Mortgage end date: WAS Jan 2034. NOW April 2033....
    Hoping to be mortgage free by February 2022.....
    2019 MFW #97 1,850 / 2,500
    Overpayments: 2017: 500 2018: 250 2019: Jan (460) Mar (290) Apr (300) May (300) June (300) 50: July/Aug/Sept/Oct
    • shopaholicnumber1
    • By shopaholicnumber1 11th Nov 19, 10:45 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    What a lovely weekend in Newcastle with DD Spent money (obviously!) on hotel, eating out and some groceries (well, alcohol mainly!) for DD plus a little cash top up for her. I am a bit soft on the finance for DC, but they never explicitly ask and I like to treat them where I can. Had an unexpected bonus of spending a few hours with DS last night who was up from his uni in Lincoln for his gfs birthday. Couldn't give DD 20 without doing the same for DS - no wonder I'm permanently broke! Worth it though

    So, lovely though Newcastle was, I stupidly wore new boots (purchased a while ago but was waiting to wear them), so by the time I got home last night, my poor feet were covered in blisters. Added to which as we walked for miles and miles (well, it felt like miles and miles!) plus being quite a long drive, today my knees are shot and my hips, back and legs aching. To add to my general feeling of misery, I've woken up today with a hacking cough and feel truly dreadful. I was obviously coming down with something over the weekend so the aches and pains are a combination of overdoing it and being generally poorly. Dragging myself to work this morning was something of a challenge!

    Despite feeling awful, it was a really lovely weekend - so strange to see DD in her "zone" and being a visitor - a first for me! Anyway, no financial news - mid month lull, but I'll have to tighten the belt for the next 2 weeks until payday thanks to this weekends escapades.

    Have a good week MFWers! Keep warm and dry!
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • shopaholicnumber1
    • By shopaholicnumber1 18th Nov 19, 3:06 PM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Haven't posted recently as I was right in my suspicion that I was coming down with something. I spent most of last week at home feeling lousy with a chest infection, finally caved in and went to see the doctor (something I never do!) and now have steroids and an inhaler. Still feeling rubbish, still coughing like an old tramp, and still have a cold, but I'm back at work as I can't deal with the guilt!

    On the upside, it meant I didn't go anywhere or spend anything - apart from 18 on prescriptions - when did it get so expensive?

    Anyway, payday a week today so I'm looking forward to updating totals and putting everything into the budget for December! I need to get out more
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • longway2go
    • By longway2go 19th Nov 19, 9:07 AM
    • 124 Posts
    • 284 Thanks
    longway2go
    Hope you feel better soon. Did you sign up to ynab?
    Mortgage - 161K

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

    • shopaholicnumber1
    • By shopaholicnumber1 19th Nov 19, 9:29 AM
    • 83 Posts
    • 244 Thanks
    shopaholicnumber1
    Hope you feel better soon. Did you sign up to ynab?
    Originally posted by longway2go
    I still feel quite rough, but am back at work as can't handle the guilt staying at home! I did sign up to YNAB - and I managed to get my head around the credit card thing, honestly don't think I'd be without it now! How are things going with you?
    Mortgage: 81,154.58 (03/19)/79296.40 (09/19) 78924.55 (10/19)

    Emergency savings: 2500 (08/19) / 2700 (09/19) 2800 (10/19)
    • longway2go
    • By longway2go 19th Nov 19, 2:18 PM
    • 124 Posts
    • 284 Thanks
    longway2go
    I love ynab. I definitely think it helps.

    As you can see also not been great but at least staying in means no spending lol
    Mortgage - 161K

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

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