Trying to get on track

in_need_of_direction
in_need_of_direction Posts: 7,279
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edited 30 March 2014 at 11:41AM in Debt free diaries
I've been browsing for some time and am mightily impressed by all that is achieved by the members. In some ways, I'm incredibly fortunate with both me and my OH being in reasonably secure, reasonably well paid jobs. Apart from a credit card that we generally clear ten months of the year, we have a mortgage that has just dipped below £120k for the first time. The issue for us appears to be that as our disposable income increases, so does our spending. I haven't made any pension provision for a number of years, we don't have savings and, at 45, I realise that the plan to be on track with mortgage pension and savings by age 40 isn't going to happen. I have also had various health issues over the past 5 years and want / need to draw a line in the sand and tackle things moving forward. Today, inspired by various threads, I gathered up various pots of change from around the house, rounded up and made a £40 overpayment to my mortgage. I also decided it was time to stop lurking and to go public with my plans, progress or lack thereof. Over the next month, I hope to crystallise my thinking and to start setting some targets. Until then, be prepared for the ad hoc drivel. Thanks for taking the time to read.
Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
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  • beanielou
    beanielou Posts: 89,642
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    Happy shiny new diary :)
    Keep posting!
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing [email protected]. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Well today didn't exactly get off to the greatest of starts - damn you ach1ca though I did get free postage plus £10 off my spend. Only prob was I had to add an extra £7 to qualify but in essence got a free gift and £3 off. Then off to mr s to take advantage of week 4 of my vouchers and gain additional nectar points. Only went £2 over my minimum spend, got some reduced items and extra 400 points for a £10 spend on needed cleaning items. Also got a valid to 21 jan voucher for £15 off a £60 spend. Need to keep an eye on weekly offers to maximise savings. Also resisted the urge to spend £2 on a notebook as I have several unused ones so £2 to start the savings.
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
  • Just had a look through old emails and discovered a hotel stay voucher bought three months ago. Having trouble getting this booked so have emailed to ask for a refund. Fingers crossed
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
  • Piquant_2
    Piquant_2 Posts: 5,769
    PPI Party Pooper Mortgage-free Glee! Debt-free and Proud!
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    Happy new diary and happy new year. With planning and determination you can get there.
    Total debt at October 2008: £67,213.30
    Total debt today: £0
    - debt and mortgage free 29th November 2013 :T
    Sealed Pot Challenge member 14
    Save £12K in 2014 - £6,521.90/£6K member 138



  • So, instead of a NY brunch, today will include making soup from the on the turn veggies. Hopefully, it's the little things that will make a difference
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
  • Best of luck with your shiny new diary! Little steps have helped us a lot, with encouragement from folk on here. We are also eating up randoms from the fridge today :)
  • Back to work today which means entering the spending danger zone. Am bringing some of yesterday's soup which will hopefully deter spending. Am also going to raid the cupboard for uneaten bought for Christmas treats so I shouldn't have any need for the shops.

    On another note, jumped on the wii scale thing yesterday. While I had a relatively pleasant surprise, I still need to lose about 3.5 stones to get to a healthy weight. First 2014 target is for 7lb loss by 01 march. Not only do I need to drop the pounds but I have a wedding to go to in march and the weight loss would enable me to wear a previously purchased but unworn outfit as opposed to panic buying at the last minute. Fingers crossed
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
  • Just managed a spend free day in the office resisting the call of the chocolate vending machine. Arrived home to find a card from Royal Mail saying I owed custom duty plus £8 handling charge for items ordered on line in December ~ gutted.
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
  • Did some digging for my mortgage agreement as other than making monthly payments, I've paid little attention. The scheduled date for repayment is February 2029. This would make me 60 and my OH 61. Not great. Over the past 2 years we've overpaid by the ridiculously small amount of approx £100. Because we remortgaged, to consolidate debts(that we ran up again, but that's another story) just before the bubble burst, we did really well out of a base rate tracker loan to value mortgage. We are probably in a tiny minority who can earn more interest than we pay on our mortgage. That's always deterred us from overpaying. Unfortunately however that argument only stands if you save, we haven't been. So, in an attempt to be mortgage free by 2020, this is the year of change. We are both due a pay uplift at the end of January and we've agreed that half of this will go to overpaying. I have also decided that this is the month that I join the company pension scheme. As I have a company car, I currently am in a higher tax bracket and my employer will match up to 5% of my salary in contributions so this really seems like a no brainer. Both steps however could make for a frugal year.
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
  • Have just made my monthly credit card clearing payment which is a ridiculous amount. Serious need for that to be reined in. I also made an overpayment of £4.07 to the mortgage as a rounding on the current account. Am also aiming to do this when I make use of any voucher savings. Will see how that pans out
    Mortgage at 01.01.14 £119,481.83:eek: today £0 Emergency fund £5.5/5.5k & £200/200 cash.:jWeight 24/02/19 14st 7lb now 11st 9lb determined to stop defining myself by my mistakes. Progress not perfection.:T100%through my 1% mortgage challenge. 30.15% through my pb challenge.
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