The Crumpet family's journey to Mortgage Freedom:-)
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Crumpets
Posts: 1,014 Forumite
Hi there,
Long time lurker here, I've been inspired by so many diaries on here that I thought I'd start my own. After just spending an exhausting half hour working out this months Morgage overpayment on the very complicated financial system we have in our house, I thought a diary might help me to organise my thoughts better:T
A bit about myself, I'm a SAHM to my lovely 3dc and my dh is a self employed web developer, so money can be a bit erratic coming in. We have been overpaying our mortgage a small amount pretty much since we took it out in 2007 with gaps here and there. This year though we have decided to live as frugally as possible (without missing out on fun times with the kids) and throw everything spare at the mortgage. We've done pretty well too so far, but I can feel myself getting complacent so here's where I hope my diary will come in useful:)
Anyway that's it for now:beer:
Crumpets
Long time lurker here, I've been inspired by so many diaries on here that I thought I'd start my own. After just spending an exhausting half hour working out this months Morgage overpayment on the very complicated financial system we have in our house, I thought a diary might help me to organise my thoughts better:T
A bit about myself, I'm a SAHM to my lovely 3dc and my dh is a self employed web developer, so money can be a bit erratic coming in. We have been overpaying our mortgage a small amount pretty much since we took it out in 2007 with gaps here and there. This year though we have decided to live as frugally as possible (without missing out on fun times with the kids) and throw everything spare at the mortgage. We've done pretty well too so far, but I can feel myself getting complacent so here's where I hope my diary will come in useful:)
Anyway that's it for now:beer:
Crumpets
Mortgage March 2011 £143,927.6
Mortgage Feb 2019 £78,323.18
Mortgage Feb 2019 £78,323.18
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Comments
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Welcome and good luck!Mortgage March 2013: [STRIKE]£55,956 [/STRIKE]£38,500 (aim to pay off by 2020)
Overpay aim 2013: £9,974/ £5,000 :T:T:T
Overpay aim 2014: £3,800/£12,000
Kitchen and curtain fund: €1,000 / €4,000
Emergency fund: €1,000 / €2,0000 -
Hi, just wanted to wish you good luck2022 MFW 67 - 33 month challenge to clear mortgage, month 17 completed and and extra 2 knocked off 🙂MFI3 No.120
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Good luck on your journey0
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Hope all goes smoothly for you and enjoy the journey!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:D0 -
Thank you all for a lovely welcome..I knew you were a friendly bunch on here :beer:
At the beginning of the year when my dh and I were talking about seriously tackling the mortgage we initially set ourselves a target of overpaying by £5000(this is extra to the regular op we make by so each month) I'm thinking we could possible increase this to £7000. It would be a stretch and would depend on dh's wages remaining as they are but I'm hoping it's possible.
I'm off to add up how much we've op'd each monthMortgage March 2011 £143,927.6
Mortgage Feb 2019 £78,323.180 -
So I've just added up all our extra overpayments up to the end of May and the total is £2952.29. Maybe the £7000 target is a little ambitious but I'm going to give it a jolly good try!Mortgage March 2011 £143,927.6
Mortgage Feb 2019 £78,323.180 -
There's nothing wrong with a bit of positive thinking! Go for it and good luck!Mortgage starting balance 2011 ... £170k today £1.5k
Savings: £3k
Aim: 100k by Dec 20210 -
At the beginning of the year I made a list of all the ways that I could save/ make the target of £7000. I think I'll list them here and then I can take great pleasure in crossing them off when they're done.:rotfl:
Try and save £100 per month on groceries
Try and save £20 per week from the 'sundries' fund
eBay/amazon/car boot sale
[STRIKE]Switch bank accounts[/STRIKE]
Use vouchers/points
[STRIKE]Switch mortgage deal[/STRIKE]
Find bargain Christmas/birthday presents
Use cash back sites
[STRIKE]Switch home/car insurances[/STRIKE]
[STRIKE]Use dd2's pre-school fees when she receives funding[/STRIKE]
Sell DH shares
Close old bank accounts with money in
Limit clothes/ haircut spends
Any lottery wins
Any bonuses/wage increases
Wow looking at that typed out seems quite a lot to do. Some of them are ongoing and will be done throughout the year so won't know full amounts till the end of the year.
I'm sure there are more ways to claw back the cash so will have to wrack my brains and think of some more ideas.Mortgage March 2011 £143,927.6
Mortgage Feb 2019 £78,323.180 -
Spends today so far is £2 for playgroup for my two little ones, they get a good snack there and a lovely environment to play in so is definitely worth the money.:)
This afternoon I will have to go shopping in A!di. I have a £400 budget a month for shopping and try to spend £50 a week in a!di and I usually do a monthly shop in te$co where I try to spend no more than £100. It's usually much less than this though as a!di have increased there range so I don't need so much from mr T:T I've been struggling to get my weekly shop under £50 recently though but maybe this is because I'd slipped a bit in my frugal ways. I do include Nappies and wipes etc in this though.
I'm going to have a go at making some cheese twists for dd1 lunchbox as she loves those. I've not made them before but will give it a go. I'm pretty sure I have all the ingredients in so I can cross those off the shopping list :money:Mortgage March 2011 £143,927.6
Mortgage Feb 2019 £78,323.180 -
Hi just wanted to day good luck0
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