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  • FIRST POST
    • newgirly
    • By newgirly 15th Apr 10, 11:02 PM
    • 6,529Posts
    • 45,427Thanks
    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







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    Last edited by newgirly; 16-03-2012 at 12:47 PM.
Page 374
    • greent
    • By greent 10th Aug 18, 9:35 PM
    • 7,594 Posts
    • 77,361 Thanks
    greent
    Sorry to hear the news, ng (haven't been online - was at Woburn CP) - am glad things are sounding more positive than initially and DH seems to have a few possible job offers - which is great. Not sure how old he is - but being an employee may be a much better way of life than the stress and super long hours we've heard about - now that your children are all technically adults it might be nice for him to slow down a bit and perhaps you two spend more time together?


    On a lighter note, the Sunspan house and a bit more about it (and more pics) is here: https://www.homesandproperty.co.uk/property-news/art-deco-essex-house-virtually-unchanged-since-the-1930s-up-for-auction-a122796.html

    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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • newgirly
    • By newgirly 10th Aug 18, 10:54 PM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Another crazy busy day, managed to pop to the pub after work for a quick drink with the guys as one of them is off on holiday next week so it may be his last day

    Going in again tomorrow to go through liabilities and plan for a meeting with somebody who may be interested in the building and business Tuesday. Dh is not doing well and to be honest I'm being quite hard on him and telling him to get on with things instead of being eaten up with guilt and getting in a state.

    Had a chat tonight with him as I'm worried I'm too harsh, but he say's
    it's what he needs to hear at the moment
    MFW 21

    £77,580
    • AlexLK
    • By AlexLK 10th Aug 18, 11:11 PM
    • 6,105 Posts
    • 32,382 Thanks
    AlexLK
    Greent: Thank you for the information re. the Sunspan house, I'm just reading about it now before bed.

    NG: You will get through this. Please try to support your husband as much as possible.
    2018 totals:
    Savings £11,200
    Mortgage Overpayments £5,500
    • newgirly
    • By newgirly 11th Aug 18, 11:55 AM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Hi greent, sorry I didn't see your post yesterday I'm not sure why! I hope you had a great time at Woburn, how did it compare to the others for you all? Thanks for the link to the house I'll have a look

    With the job situation I think it will be a relief to not have the responsibility any more, but also quite hard to work for somebody else now, time will tell I guess.

    Hi Alex, we will get through it you are right I'm doing my best to get the balance right of supporting him and being understanding but also trying to help him keep control himself and not spriral into dwelling on all the negatives when we have so much to sort out, endless pep talks really

    Went in today with dad and dh to try and spend time going through liabilities etc. This week has been taken up with phone calls and research and helping the staff, plus a final push to send out what work we are in the middle of.

    Sorry I've not read any diaries, hope everyone is doing ok
    MFW 21

    £77,580
    • themadvix
    • By themadvix 13th Aug 18, 10:59 AM
    • 2,022 Posts
    • 11,624 Thanks
    themadvix
    You don't need to apologise for not reading - you've got rather a lot going on at the moment!

    Hope things go well this week. (Will read and reply to your PM shortly.)
    OPs 2018 = £2090
    Moving savings = £3085
    OPs 2017 = £3103
    Starting balance 2012: £132000; balance Jul 2018: £91,552
    MFW2018 no. 38
    • newgirly
    • By newgirly 14th Aug 18, 8:55 PM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    We had the meeting at work today with the guys who are the best bet for getting involved and it went well. Nothing is set in stone but they want the business and staff , although would prefer to not buy the building too. They immediately went to the bank this afternoon incase it's the only way for it to work, so I guess its good sign they are so keen.

    Currently we are trying to work on a scenario where they take over the business and we keep the building in the original company , leasing to them (they employ our staff and probably us).

    Still loads to work through and it's getting more than a little tense both at home and at work I'm sorry to say after weeks on the wagon I had some wine tonight!

    No let up any time soon with the stress, if it all goes well they will bombard us with orders and pay up front to see us through which would be amazing - if not more than a little stressful as we have staff on holiday
    MFW 21

    £77,580
    • zcrat41
    • By zcrat41 15th Aug 18, 6:02 AM
    • 1,507 Posts
    • 4,150 Thanks
    zcrat41
    That sounds like great news!!
    Aim: To o/p the mortgage by £131 pm.
    07/18: £254. Smashed it!
    08/18: £219.31 Smashed it again!
    09/18: £131 Acheived challenge
    10/18 £Target £131 plus £50 into savings
    • themadvix
    • By themadvix 15th Aug 18, 8:06 AM
    • 2,022 Posts
    • 11,624 Thanks
    themadvix
    That all sounds promising! Will keep my fingers crossed for you x
    OPs 2018 = £2090
    Moving savings = £3085
    OPs 2017 = £3103
    Starting balance 2012: £132000; balance Jul 2018: £91,552
    MFW2018 no. 38
    • greent
    • By greent 15th Aug 18, 8:21 AM
    • 7,594 Posts
    • 77,361 Thanks
    greent
    Sounds hopeful. Like others have said, fingers crossed... 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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • julicorn
    • By julicorn 15th Aug 18, 8:29 AM
    • 447 Posts
    • 1,655 Thanks
    julicorn
    That sounds like it would be a really good solution!
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £184,500
    • newgirly
    • By newgirly 16th Aug 18, 8:54 AM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Thanks everyone

    So today is exams results day and also we should get a proposal from the solicitors of the guys interested in the business, with no idea what will be in it yet, slightly nerve wracking

    I've done all my work up to date so am not going in today (Ive been obviously going in everyday) it's just a case of wait and see now. So glad to be at home though, I need a few hours to sort out washing /cleaning etc. The boys have done a little but their standards a a bit lower, training them is still a work in process
    MFW 21

    £77,580
    • newgirly
    • By newgirly 17th Aug 18, 7:51 AM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Thanks goodness all went well for the boys results wise, they both did better than I'd hoped for with a C and some B's I've given them £20 each, bought them some maltesers and a lunch deal takeout pizza, I felt quite generous, however one of their friends received £500 for getting 3 c's nothing wrong with a treat but £500!

    No news on the deal still as they couldn't get in touch with their solicitor until late in the day.

    I can't make any plans finance wise, if this deal goes ahead my guess is we will be on a wage about 30% less in total than now, taking into account no dividends ever again. They have already asked dh if I want to stay on as they would like me to, so no imminent job hunting needed hopefully

    As a distraction I've making some plans for Xmas, in a frugal way so far just incase we can't spend as much this year. I've ordered 3 pairs of long socks to make sock monkeys, Dd and her boyfriend's Dd are both mad on dr who, so I've got navy socks and police box printed ribbon to make bow ties for them, I'll make a stripey one for my aunt too

    Out with best friend tonight even though I shouldn't be spending it's either mc Donald's if I'm Jobless or drinks and dinner if it goes well- not sure what happens if we still don't know
    MFW 21

    £77,580
    • julicorn
    • By julicorn 17th Aug 18, 8:47 AM
    • 447 Posts
    • 1,655 Thanks
    julicorn
    Well done to your boys!

    And I hope you find out super soon. (If you still don't know tonight, then maybe McDonalds + drinks is the best solution )
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £184,500
    • greent
    • By greent 18th Aug 18, 7:23 PM
    • 7,594 Posts
    • 77,361 Thanks
    greent
    Well done to the boys! Hope the news re the business was good... 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) £7575.92/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • newgirly
    • By newgirly 19th Aug 18, 1:22 PM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Thanks juliecorn and greent

    Still up in the air! They want a breakdown of our suppliers outstanding etc. we will send those over tomorrow, the boss is away mon-weds next week so we have arranged to meet thurs to hammer out all the details (our anniversary ) they are happy to sign papers at the end of next week to take us over, obviously that depends on us and our solicitor being happy with everything. Still looking good and ive gone from presuming a 50% success rate with this deal to about 80%

    It's was Dd's boyfriends birthday yesterday, I thought it might be nice to make a fuss this year, last year he had just lost his mum so it felt a bit wrong to make a fuss. Dd has made an escape room game in the garden to do with his Dd and I've done dinner and bought trivial pursuits (none of us have ever played before) so hopefully a good old fashioned family afternoon
    MFW 21

    £77,580
    • mandySaver12
    • By mandySaver12 19th Aug 18, 5:25 PM
    • 32 Posts
    • 32 Thanks
    mandySaver12
    Congrats to your boys! £500 is a lot of money for results day, hope they dont spend it all and save it for uni!

    Good luck re the job. Escape room in the garden sounds amazing
    • newgirly
    • By newgirly 19th Aug 18, 5:44 PM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Hi mandysaver12 , the £500 was what their friend recieved , my two got £20 and a couple of pizzas The 'escape room' went really well thanks

    Now watching muppets most wanted after giving trivial purists a good go, think we may need some different questions for it to work better with lots of us at all ages though.
    MFW 21

    £77,580
    • themadvix
    • By themadvix 20th Aug 18, 8:47 AM
    • 2,022 Posts
    • 11,624 Thanks
    themadvix
    Escape room sounds cool! And I think £20 each is far more reasonable, regardless of your financial situation!

    We love Trivial Pursuit (we have the 21st Century edition though and even that's getting to be dated!). They must do a film questions set!
    OPs 2018 = £2090
    Moving savings = £3085
    OPs 2017 = £3103
    Starting balance 2012: £132000; balance Jul 2018: £91,552
    MFW2018 no. 38
    • CathT
    • By CathT 20th Aug 18, 9:47 AM
    • 5,811 Posts
    • 40,672 Thanks
    CathT
    We've got family edition trivial pursuit and it's great. My hundred are a lot younger than yours though. We did try the genius (I think) edition. That swiftly made its way to the charity shop!
    Dec 2018 -
    part 1 - £73,558 part 2 - £44,554
    Total - £118,112 111 months to go!
    • newgirly
    • By newgirly 20th Aug 18, 5:22 PM
    • 6,529 Posts
    • 45,427 Thanks
    newgirly
    Haha don't think the genius edition would be much good here either! Will see if there's a film version, we would all be good at that

    Problems already with the buy out, the bank put a charge over the assets as well as the building and our house, talk about overkill for a mortgage of about 20% LTV! Our solicitor is trying to sort out the best way forward avoiding contacting the bank for the moment.

    On a more personal financial level, I've been inputting the much lower expected payements into the op spreadsheet the best case secenario 30 months if we are super frugal and get the wages I'm hoping for ( currently at 12months) not sure the point of doing the right now as everything is so up in the air, I just hate not planning.

    Even if a 30 month ish term is possible I think it may be a bit too long to be super frugal for, although I'll do my best for as long as possible!

    I didn't go in and help at work today, most things were covered and I really felt like a break after the last couple of weeks and having a house full all weekend. I dropped Dd at work today and popped into
    Primarni and bought a couple of fur throws for the living room £4 each and some tracksuit bottoms for me at £5, preparing for when it gets colder and I don't put the heating on

    After that I went to Tesco as our Aldi is having a refurb for months, bought lots to make autumnal healthy stews and winter salads, I need to stop eating junk, I've actually put on about three pounds since cutting down massively on alcohol, I seem to be craving sweet things way more than usual, that's quite common I guess.
    MFW 21

    £77,580
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