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  • FIRST POST
    • newgirly
    • By newgirly 15th Apr 10, 11:02 PM
    • 6,217Posts
    • 42,934Thanks
    newgirly
    Pay off mortgage and start having fun!
    • #1
    • 15th Apr 10, 11:02 PM
    Pay off mortgage and start having fun! 15th Apr 10 at 11:02 PM
    I have been reading other peoples posts for a while,trying to get myself in the right frame of mind to start overpaying on the mortage.DH and I have a house worth about £220,000 with a mortgage of £159,000 although we only paid £120,000 for it (£93,000 mortgage) to start. So as you can see we have been not so great in the past! Last year we also owed about £20,000 on credit cards which is now down to £10,000. I really want to get rid of the mortgage before our youngest turn 18, the twins are nearly 10 now. So any words of encouragement would be great, I need keeping on the straight and narrow.

    Xmas paid for by saving £1 a day minimum in a sealed tin, plus homemade/sale stuff.
    Birthdays now in monthly budget, plus extra vouchers earned

    I am taking part in the earn £2012 in 2012 challenge on the up your income board, so whatever earned from that will be split between op's and holidays fingers crossed.

    Budget from may 2012 onwards:

    income.................2092.00
    child benefit..........188.60
    child tax cr..............0 no longer!
    total....................£2280.60

    mobiles x 2...........32.00
    tv licence..............12.37
    elec/gas................140.00
    water....................60.00
    council tax............125.83
    home insurance.......11.83
    pension..................21.90
    life ins....................15.17
    sky ........................21.00
    car tax....................15.83
    car ins.....................22.00
    car maintenance.........8.33
    petrol.......................60.00

    school dinners............48.00 (1 dinner/1 bacon sarnie each pw)
    pocket money.............20.00
    clothes.......................30.00
    birthdays....................50.00

    grocery.......................250.00
    (food/pets/cleaning)
    DH's money.................100.00
    0%cc ................................32.35
    mortgage interest.........425.00
    mortage overpayment....778.39


    money in: £2280.60
    money out:£2280.60







    This Forum Tip was included in MoneySavingExpert's weekly email

    Don't miss out on new deals, loopholes, and vouchers

    Last edited by newgirly; 16-03-2012 at 12:47 PM.
Page 355
    • Kittenkirst
    • By Kittenkirst 11th Feb 18, 8:04 AM
    • 1,857 Posts
    • 9,989 Thanks
    Kittenkirst
    Oh man- not the wine?!?

    You did make me chuckle about the flat & hotel!!
    2018 MFW #20 - OP £895.56/ £3000 30%
    Jan: £417.42 Feb: £260.14 Mar: £218

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • JAMIEDODGER
    • By JAMIEDODGER 11th Feb 18, 8:08 AM
    • 4,269 Posts
    • 18,658 Thanks
    JAMIEDODGER
    Boo to the loss of wine, Yay to the night in a hotel
    #82 12k in 2018 - £3473.45/£12000 - 28.95%
    Retirement Fund £10747.52/£250000 - 4.30%
    House Fund £2679.13/£50000 - 5.36%
    Travel Fund £196.49/£2500 - 7.86%
    • XSpender
    • By XSpender 11th Feb 18, 8:23 AM
    • 2,931 Posts
    • 30,079 Thanks
    XSpender
    Hope you can get the wine stink out. I dumped a bag and a bottle of wine on my bed once before going out and it rolled off and smashed on the carpet during the night. It took me ages to get rid of the smell and that was a bottle of white.

    How lovely to receive all those flowers.
    Action Plan Part 1 - Clear First 3 Balances
    Target Debt Lloyds (Me) Part 1 £666.22/£0
    Target Debt Virgin (Me) Part 1 £1176.49/£599.42
    Target Debt Virgin (Me) Part 2 £1038/£1038
    Big black hole of debt - £53,515.15 @ 16.12.17 £52,811.64 @ 28.02.18, £50,638.77 @ 28.03.18, £49,778.78 @ 20.04.18
    • CathT
    • By CathT 11th Feb 18, 9:45 AM
    • 5,502 Posts
    • 38,420 Thanks
    CathT
    The York hotel story is amusing.

    Your post about your house struck a chord with me as we had that dilemma here for years until we finally took the plunge to extend. We are now perfectly happy here and don!!!8217;t consider moving. My stress over secondary schools has reduced as we are not in the right catchment area for the best schools but they do operate a bus from ny our house. For us it was definitely worth extending but our children were 8 and 5 when we did it. Will the house feel too big once your children have moved on? Could you renovate/rejig the space for much less?
    April 2018 -
    part 1 - £78,128
    part 2 - £45,507
    Total - £123,635
    • newgirly
    • By newgirly 11th Feb 18, 10:50 AM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    Oh dear xspender

    The wine was In the boot and it's a saloon so hopefully it won't filter through too much

    Hi cath, we debated over the loft room for years due to the then stamp duty threshold, it was the best thing we did.

    Our house currently (in places) is shabby, all the flooring is very old laminate down stairs and is coming up in places, the kitchen is an old b and q value one dh fitted when we moved in. The conservatory was also a cheap one built by dh and a builder for about £3k fifteen years ago.

    My main worries are :

    Downstairs toilet , no room for this except by bricking up the front and losing lots of light and space in the hall

    Kitchen, paying to have a new one and then extending later thus wasting money

    Conservatory- needing replacing in the future, would be a waste of money as I don't like them and would replace with some form of extension

    However except the conservatory being cold, the space works how it is, its big enough that we have a 12 seat size table that can be pulled out to even bigger.

    It the long term cost implications of the conservatory being replaced I guess that's the main issue.

    I don't know!
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • Goldiegirl
    • By Goldiegirl 11th Feb 18, 4:25 PM
    • 8,318 Posts
    • 48,796 Thanks
    Goldiegirl
    I was pleased to see you had some cruises on your to do list!
    Early retired - 18th December 2014
    If your dreams don't scare you, they're not big enough
    • newgirly
    • By newgirly 11th Feb 18, 5:47 PM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    But of course GG
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • newgirly
    • By newgirly 14th Feb 18, 7:09 AM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    Supposed to be on my way to work in a minute but can't seem to get out of bed, it's freezing!

    No romantic plans for Valentine's Day, it's the anniversary of when we lost our first Dd so we will leave work early and take some flowers. Not going out tonight so I bought dh some "posh" aldi steak and claret pies for dinner, the kids and dds boyfriend have aldi valentines pink smarties each- not for dinner of course , ds1 says it's weird buying your kids stuff on Valentine's Day but I've not always bought them chocolate of some sort, he doesn't have to eat them

    Pancake day as hard work 75 mins after work cooking a huge stack (bearing in mind I can't eat any on my diet!) the two boys had 1 each and were doing to eat some later, until I found dd and her boyfriend upstairs working their way through the whole lot dh not pleased when he got in, they must have had over 20 how can my dd be such a piglet when she is a size 6/8?
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • smallholdingsister
    • By smallholdingsister 14th Feb 18, 8:04 AM
    • 3,591 Posts
    • 30,110 Thanks
    smallholdingsister
    Thinking of you today NG. x
    • try harder
    • By try harder 14th Feb 18, 8:30 AM
    • 746 Posts
    • 2,842 Thanks
    try harder
    And me too ,lots of hugs.
    • edinburgher
    • By edinburgher 14th Feb 18, 8:57 AM
    • 11,058 Posts
    • 59,317 Thanks
    edinburgher
    What a sad coincidence NG - thinking of you and DH today
    • greent
    • By greent 14th Feb 18, 6:45 PM
    • 6,900 Posts
    • 70,650 Thanks
    greent
    Big (((hugs))) for you, ng 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. 2018 OPs (#18) £577.06/£4000
    Net sales 2018 £362.51/£1000 PAYDOX18 (#15) £12808.40/£18694.38
    • newgirly
    • By newgirly 14th Feb 18, 8:26 PM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    That's very kind thanks, it feels like it's been a really long day although it's still early, so I'm off to bed
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • themadvix
    • By themadvix 15th Feb 18, 9:25 AM
    • 1,548 Posts
    • 9,137 Thanks
    themadvix
    Sorry to hear that Valentine's is always a sad day for you NG. Hope you were gentle on yourself (and are today too).
    OPs 2017 = £3103
    S&S ISA 2017 = £626
    OPs 2016 = £6142.12
    Starting balance 2012: £132000; balance Dec 2017: £96,822
    MFW2017 no. 38
    • newgirly
    • By newgirly 15th Feb 18, 9:39 AM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    Thanks vix

    Day at home planned today, tons of washing and cleaning to do (and lots of internet mooching!) going to see fifty shades with best friend, Dd and her stepdaughter tonight, not my cup of tea but I have been told I must go

    Hanging in there with the budget so far, approx £65 left but i need to pay for Nando's for Dd and I tonight before the film. Unless I've missed something it's not going to last until march!
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • CathT
    • By CathT 15th Feb 18, 11:50 AM
    • 5,502 Posts
    • 38,420 Thanks
    CathT
    I'm supposed to be being productive but still on here
    April 2018 -
    part 1 - £78,128
    part 2 - £45,507
    Total - £123,635
    • edinburgher
    • By edinburgher 15th Feb 18, 11:56 AM
    • 11,058 Posts
    • 59,317 Thanks
    edinburgher
    Shhh - me too
    • newgirly
    • By newgirly 15th Feb 18, 12:10 PM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    Feel free too hang out here whilst pretending to be productive
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 15th Feb 18, 1:40 PM
    • 1,215 Posts
    • 5,567 Thanks
    wishingthemortgaheaway
    Ooh I'm hanging out here too (whilst watching the olympics and trying to 'create' money just by fiddling with ynab)
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 Feb 15/100 March 18/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 £1400ish/£2,500
    • newgirly
    • By newgirly 15th Feb 18, 4:33 PM
    • 6,217 Posts
    • 42,934 Thanks
    newgirly
    I've "created" some money today by finding I skip two months worth of water charges per year, that's going in my secret holiday savings pot
    MFW 21
    Target for 2018 £40k/£9,626 paid so far

    Mortgage £39,159.44 -4yrs 2 mths left. Total owed £52,364 plan to clear in 14 months
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