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  • FIRST POST
    • newgirly
    • By newgirly 15th Apr 10, 11:02 PM
    • 6,405Posts
    • 44,326Thanks
    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
    • 7,231 Posts
    • 73,496 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) £3290.25/£4000
    Net sales 2018 £613.49/£1000 PAYDOX18 (#15) Done £18918.90
    • newgirly
    • By newgirly 10th Aug 18, 10:54 PM
    • 6,405 Posts
    • 44,326 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
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,193 3yrs 9 mths left. Total owed £47,059 plan to clear in 12 months
    • AlexLK
    • By AlexLK 10th Aug 18, 11:11 PM
    • 6,105 Posts
    • 32,352 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
    • 6,405 Posts
    • 44,326 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
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,193 3yrs 9 mths left. Total owed £47,059 plan to clear in 12 months
    • themadvix
    • By themadvix 13th Aug 18, 10:59 AM
    • 1,849 Posts
    • 10,696 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 = £2557
    OPs 2017 = £3103
    Starting balance 2012: £132000; balance Jul 2018: £91,552
    MFW2018 no. 38
    • newgirly
    • By newgirly 14th Aug 18, 8:55 PM
    • 6,405 Posts
    • 44,326 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
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,193 3yrs 9 mths left. Total owed £47,059 plan to clear in 12 months
    • zcrat41
    • By zcrat41 15th Aug 18, 6:02 AM
    • 1,441 Posts
    • 3,907 Thanks
    zcrat41
    That sounds like great news!!
    Aim: To o/p the mortgage by £131 pm.
    07/18: £254. Smashed it!
    08/18: On target for £131
    • themadvix
    • By themadvix 15th Aug 18, 8:06 AM
    • 1,849 Posts
    • 10,696 Thanks
    themadvix
    That all sounds promising! Will keep my fingers crossed for you x
    OPs 2018 = £2090
    Moving savings = £2557
    OPs 2017 = £3103
    Starting balance 2012: £132000; balance Jul 2018: £91,552
    MFW2018 no. 38
    • greent
    • By greent 15th Aug 18, 8:21 AM
    • 7,231 Posts
    • 73,496 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) £3290.25/£4000
    Net sales 2018 £613.49/£1000 PAYDOX18 (#15) Done £18918.90
    • julicorn
    • By julicorn 15th Aug 18, 8:29 AM
    • 214 Posts
    • 842 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: £193,300
    • newgirly
    • By newgirly 16th Aug 18, 8:54 AM
    • 6,405 Posts
    • 44,326 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
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,193 3yrs 9 mths left. Total owed £47,059 plan to clear in 12 months
    • newgirly
    • By newgirly 17th Aug 18, 7:51 AM
    • 6,405 Posts
    • 44,326 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
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,193 3yrs 9 mths left. Total owed £47,059 plan to clear in 12 months
    • julicorn
    • By julicorn 17th Aug 18, 8:47 AM
    • 214 Posts
    • 842 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: £193,300
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