frugal or not to frugal, to be mortgage free?

Options
We are a family of 4 plus 1 dog. Our mortgage currently stands at £79,880 will be paid off by 2036:eek:. We are on a fixed mortgage which ends Jan 2019. The thought of still paying our mortgage for that long makes me feel very down, so instead of wallowing and burying my head in the sand I've decided to aim to over pay the mortgage each month. If I pay an additional £100 a month it shortens the time by a couple of years, but hopefully with mse and advice from people on this forum I might be able to reduce this further. So my DH works full time and I'm a sahm (full time carer for DD2 and part time OU student), we have 2 dd. Our total income is approx £38,000. In order to keep cost down i run 3 allotments with my FIL which provides alot of our food, but our food budget is still rather large. As my title indicates I'm not sure which approach to take in tackling the mortgage repayment, but I guess I'll discover that as I go along.
«13

Comments

  • louloubelle79
    Options
    Good luck with your journey, we are also family of 4 and 1 dog trying to be MF in 10 years.
  • beanielou
    beanielou Posts: 90,576 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Options
    Happy shiny new diary :)
    Keep posting :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "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.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Betterthanever
    Options
    If you're not already on it, get over to the "Moneysaving Old Style" board on here - if you want ideas for frugalness, they're experts at it!


    Good luck with your journey - absolutely no need for your mortgage to go to its full term! Enjoy the ride!!
  • Secret_Saving_Squirrel
    Options
    In many cases, the mse changes that you make will be pretty much invisible, it is just a case of identifying them and putting things in place. For example, save several pounds a month by trying the Poundland laundry liquid. Works out cheaper than making your own, even! And no extra work. Being intentional about every purchase does not necessarily mean deprivation.
    Very good luck. X
    Paid off mortgage nine years early in 2013. Now picking and choosing our work to fit in with the rest of our lives!
    Still thrifty though, after all these years:D
  • sazzlebgood?
    Options
    Thanks squirrel for the tip, unfortunately DD1 has eczema. We've tried lots of different brands even those that are for sensitive skin and they make her itch (like ants moving about under her skin is how she describes it). We found that soap nuts are the best so far and work out not too expensive per wash as you can reuse them several times, bonus is they are compostable and come in a material bag which we use. So yesterday i made parkin as I can't find it in the shops and is currently going nice and sticky ready for bonfire night. Also made apple crumble using apples from the lottie and a borlotti, red wine and kale mash pie for tea would give it a 9 out of ten.
    Plans for today is to spend a couple of hours trying to complete essay, resist putting the heating on, pray it doesn't rain on the washing that's out (felt the odd spot as I put it out but currently in denial), visit the lottie to harvest some leeks and kale so I can make green mac and cheese for tea, take back library books back, buy some yeast (bread i did last night resembles a brick, however will break it up and feed it to the dog over the next couple of days). Decided to start using all the charity bags we get through the door (we get about 2 a week) as bin liners as long i remember they have holes in, so liquids. Hope you all have a good day:j
  • beanielou
    beanielou Posts: 90,576 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Options
    I use the charity bags as bin liners too!
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "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.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • sazzlebgood?
    Options
    managed to do all the jobs I listed yesterday, except the heating went on at 4pm as the kids were due home at 5. Need to pick up new key for lottie today as they've decided to get gates that automatically lock when you close them as people don't always lock the gate. Need to pick up a squash as going to have a go at making pumpkin chocolate chip cookie. I love playing guess the secret ingredients with the kids, usually wait a couple of days though otherwise you get 'i don't like it', abit like the new marmite advert. Going back up there tonight for a bonfire and sausages and free fireworks display that can be seen from our shed. Asked family members to save me their bread bags to use as poo bags for the dog and my mum turned up with poo bags from a petstore, saying money can't be that tight.! Did explain we're trying to save money to pay mortgage off early and every little helps and was a way of reusing something that would be just thrown in the bin. She said i could keep the bags and will in future save me bread bags etc.
  • sazzlebgood?
    Options
    Really enjoyed the bonfire and fireworks last night. Why is that sausages and jacket potatoes(with proper butter) always taste nicer when cooked on an open fire? FIL and OH experimented last night with trying to make charcoal. We'll see how it went when we go up tomorrow. OH at work all this wkend at his 2nd job (couple of wkends a year) must remind him to put his time sheet in as it will help pay for Christmas. He forgets and we don't get it till new year. Leek and potato soup made for tea and mum bringing bread. Washing flapping in the sunshine. Spiced pumpkin chocolate chip cookies are ok not sure if i'd make them again. Keys cost £20 for 2!!!!!! Need to eat beans at some point today as OH needs the can to see if he can make artist charcoal tonight on the fire (yes another one) and if its a success he'll use it next wkend at work. Hope you all have a good day
  • sazzlebgood?
    Options
    OH 1 hr reccy site visit turned into 2 and half hours we were both caked in mud by the time we finished. Was a really nice walk though. Bean can experiment was a success so OH is going to use it this wkend when he's working. Had toasted marshmellows and toast on the fire. I remember do this on my granma fire when i was little, brought back some nice memories. Would really like a proper toasting fork ,will have to research and ask for it as a Christmas present. Essay almost finished. Garden pesto pasta for tea.
  • wishingthemortgaheaway
    wishingthemortgaheaway Posts: 2,536 Forumite
    First Post First Anniversary
    edited 7 November 2017 at 8:23AM
    Options
    3 allotments, that is some serious amount of work. We couldn't keep up with one half size lot as hubby's work schedule was a bit manic.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343.6K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.7K Work, Benefits & Business
  • 608.7K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards