The Crumpet family's journey to Mortgage Freedom:-)

Crumpets · 4 June 2013 at 2:01PM

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

if_at_first... · 4 June 2013 at 4:10PM

Welcome and good luck!

newgirly · 4 June 2013 at 5:19PM

Hi, just wanted to wish you good luck

yukkibear · 4 June 2013 at 7:11PM

Good luck on your journey

Secret_Saving_Squirrel · 4 June 2013 at 7:29PM

Hope all goes smoothly for you and enjoy the journey!

Crumpets · 4 June 2013 at 8:17PM

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 month

Crumpets · 4 June 2013 at 8:22PM

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!

LauraJo · 4 June 2013 at 8:28PM

There's nothing wrong with a bit of positive thinking! Go for it and good luck!

Crumpets · 5 June 2013 at 12:37PM

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.

Crumpets · 5 June 2013 at 12:44PM

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:

ixia · 5 June 2013 at 3:34PM

Hi just wanted to day good luck

The Crumpet family's journey to Mortgage Freedom:-)

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