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    • zcrat41
    • By zcrat41 13th Jul 16, 4:30 PM
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    zcrat41
    ZC's Aim for a little independence
    • #1
    • 13th Jul 16, 4:30 PM
    ZC's Aim for a little independence 13th Jul 16 at 4:30 PM
    Hello.


    I've been a regular on MSE for a long long time and have been a follower of many fabulous diaries on here. I've been thinking for a while that it would help me to have a diary as I do spend quite a lot of unnecessary money. Don't expect anyone to read - it's to help me!


    So, DH and I are lucky enough that our family house is mortgage free. I had a house before I met him which is the mortgage that I want to pay off. The house is rented out. Here's the financials:


    Amount remaining: £67186.98
    Term remaining: 18.5 years
    Monthly repayment: £429.91 (somewhere around 4.8%) fixed in for 4 more years.
    I started with £81 000 6.5 years ago. I've made the odd o/p of £100 pounds here and there but with 2 mat leaves in this 6.5 years I've not got very far.


    The rent I get is £575 pcm. I put the excess in an account to cover tax and repairs etc.


    DH and I live out of our joint account that we contribute equally too for our day to day spends. It covers all our essential bills and essential living costs. I.e. it would cover jeans for day to day work but not a fancy dress that I want but don't need.


    We then have our separate accounts where my excess salary goes and pays for the fancy dress that I don't need. My aim is to use as much of this as possible to overpay the mortgage. I tend to buy unnecessary stuff out of my own account. It's easy to get lax in the joint account to so I tend to sub it if I need to.


    I'm aiming to start off with o/p by £80 pcm. This would pay off the mortgage 3 years and 9 months earlier. I hope to increase this significantly as my income increases as my children get older.


    The reason I call this my independence diary is that both DH and I run family businesses' and our finances are very joint with parents. DH is extremely tight - which is a good thing most of the time as it's how he runs a good business. I want a little fund though so that if I want to go on a spa trip or a cruise I can! We both currently work hard and don't take much time off though and my salary is the one that pays for the nice little extras so I need to have a balance between o/p and nice experiences/things.


    I'm not sure whether to save with a First Direct regular saver at 6% or just straight pay off the mortgage.
    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
Page 6
    • zcrat41
    • By zcrat41 22nd Jul 18, 3:23 PM
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    zcrat41
    I clearly seem to get time in July as this is the time of year I always come back to this diary!
    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
    • zcrat41
    • By zcrat41 22nd Jul 18, 4:30 PM
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    zcrat41
    Well, i've just re read my diary and didn't I do well! I have so let things slip though and have had a bit of a consumer mindset slip back in. So I'm going to try and write on here again.

    Current sit:
    Mortgage - £60,449.05.
    Savings £291.42.

    Most of my savings went on my teeth. So Aim 1 is going to be get to £59500. So I need to save £657.30.
    I'm going to aim to do this by Xmas so that's £131 a month.

    Today has been a lovely day. Run this morning, then church then the kids and I are watching Paddington 2. (On Amazon Prime so free!) Tea is Italian chicken with roasted veg cous cous.
    I'm really looking forwards to getting back on the wagon!
    • zcrat41
    • By zcrat41 25th Jul 18, 7:22 AM
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    zcrat41
    So far this week. Monday spent £18 in Lidl. £10 of that was on kids magazines and a writing book. I!!!8217;m a sucker for anything that includes reading and writing when they!!!8217;re clearly after the plastic tat. Rest on food. Feeding 4 for 3 meals a day plus snacks and I have a summer nanny to feed 3 days a week too. Quite a bump from when the kids are at school.

    NSD yesterday. Busy all day on the farm. Bit scary - one neighbours combine went on fire, the others bale stack. At one point my dad was driving a water bowser into a field in flames! All ok and very very luckily no one hurt. There!!!8217;s going to be a few more of these befor harvest is out.

    Need to pay for parking at the dentist today plus a few bits from boots.

    Will find out tonight if my eBay sale for £58 goes through. I!!!8217;ll be well chuffed if it does!
    • zcrat41
    • By zcrat41 29th Jul 18, 7:27 AM
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    zcrat41
    Morning all.

    So the eBay sale ended up being just £38. Not too bad though.

    My Tesco delivery saver ran out 3 weeks ago. Ocado had a great offer: 30% off the first shop, then £20 off, £15 and £10. Thing is they!!!8217;ve been late for 3/4 deliveries and I do find them more expensive even with the offers.

    So yesterday I went to Lidl. It seemed to take the whole morning! Online is so much easier! And because I!!!8217;m tired it was way too easy to get sidelined by snacks. Hoping Tesco will send me some money off vouchers to tempt me back soon!!

    Also spent £70 on some secondhand playmobil a friend was selling. I reckon there!!!8217;s a good few hundred pounds worth. The kids are 5 & 3 so hopefully get a lot of use out of it.

    Thank goodness for the rain! We were all getting exhausted so it!!!8217;s nice to have a day off. Going to spend today getting back on track with washing/housework/budget/diet ready to face the week ahead. Will try and fit in a family cycle or swim later.
    • zcrat41
    • By zcrat41 30th Jul 18, 7:08 AM
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    zcrat41
    So much for a day getting back on track. Morning went well, Church, salad for lunch then spent £8.70 on swimming. Came back as was so tired I couldn!!!8217;t face cooking so we had a McDonald!!!8217;s. £28.


    Normally I!!!8217;m more prepared for harvest with freezer stocks but with moving house this year and dc1 starting school I!!!8217;m not so well planned. And I seem more tired than normal!

    Not sure what to do today. Might be working later if it dries up. Got the whole day with the kids so might either head to the park or to a museum. Don!!!8217;t want them to get the idea that we do something every day in the hols but it!!!8217;s a long day stretching ahead!
    • zcrat41
    • By zcrat41 1st Aug 18, 7:39 PM
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    zcrat41
    NSD here today. Took the kids to the library and repaired an old paddling pool we had in the shed. Lovely day.

    Apart from I nearly got suckered in by some chaps offering to fill a few potholes on the drive with leftover tarmac. They!!!8217;d done 10m or so by the time I got to them to say no and they left without requesting money. Just hoping they don!!!8217;t come back to retaliate!
    • zcrat41
    • By zcrat41 1st Aug 18, 7:45 PM
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    zcrat41
    Oh and had the nicest meal today. Home grown tomatoes & basil with spaghetti. Delicious. I do seem to have a million tomatoes if anyone has any recipes for them?!
    • zcrat41
    • By zcrat41 4th Aug 18, 7:15 AM
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    zcrat41
    So, beginning of the month update for me. In July I managed to save £254.69 which smashed my target! Well chuffed with that. Its weird that just by paying attention to it I can save.

    I'm on target to save £131 for August. August is going to be a tight month for us. High childcare costs as the summer nanny is doing a lot of hours to help with harvest. Also a lot of hours for DH and I mean I often struggle to keep within the grocery spend. E.g. DH was working till 1am last night and was back in for 6 this morning. You can't do hours like that without a few mars bars and takeaways to get you through. I went to Iceland this week though and stocked up on a lot of Ice lollies for the kids and some easy meals for when we're tired.

    Should be ok for school uniform. Most of last years still fits and I've already got shorts, the only thing DS needs. Both children will need shoes at the end of August but I've saved my Quidco and got the Clarks top up which will help a lot. Last year one pair lasted him all year - wonder if I'll be lucky again this year!

    So DH is working all day. I've got Ocado coming this morning then have to go and do a bit of church cleaning. DS has his first real friend over to play this afternoon and is so excited! I might be working tonight, we have to see how today goes on the farm.

    Have a good day everybody.
    • zcrat41
    • By zcrat41 4th Aug 18, 7:21 AM
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    zcrat41
    ooooh, I've just worked out that if I o/p that £250 plus £131 per month I can clear the mortgage 4 years and 9 months earlier. There's 16 years remaining on my term meaning that would reduce my term to 11.5 years. That would be then paying it off just as I turn 50!!! seems like a good overall aim to me!
    • zcrat41
    • By zcrat41 6th Aug 18, 5:35 AM
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    zcrat41
    Well yesterday didn!!!8217;t go well. 2 more big field fires in our village. Luckily no one was hurt but my goodness I!!!8217;ll be glad when this years harvest is safely gathered in.

    Spent £14 on picnic stuff in Budgens last night. Got a day out with some friends today to a splash park. It!!!8217;s council run so no charge apart from parking. Could have done the picnic cheaper but the fires meant I didn!!!8217;t get to Asda before it shut.

    On with a new week!
    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
    • zcrat41
    • By zcrat41 7th Aug 18, 11:01 AM
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    zcrat41
    This is getting ridiculous. 2 more field fires yesterday. We are all getting closer to finishing but there's a lot of farmers on fire watch at the moment.


    Yesterday ended up being rather spendy. We didn't go to the splash park, we went to a friend house to play in their absolutely humungous paddling pool/small swimming pool. She happened to have another one (does a bit of ebay trading) so I bought one for £100. Watch the summer end now!


    That's my "children" budget emptied for the month with 3 weeks of the August holidays left to go! I'm hoping to squeeze extra out of other budget categories rather than dip into savings.


    Another ebay sale today of £20. I'm going to hang on to that before adding it to my o/p fund at the end of the months as a bit of a back up.
    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
    • zcrat41
    • By zcrat41 9th Aug 18, 6:30 AM
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    zcrat41
    Well !!!8220;all is safely gathered in!!!8221;
    Now. Finished the last of the beans and bale stacking yesterday.

    Had another eBay sale of £15 to add to my o/p fund. If I can manage to not dip into it by the end of the month that!!!8217;s £70 to add to it!!

    Need mango for a salad we!!!8217;re having for tea tonight. I don!!!8217;t really want to buy one but not sure how it!!!8217;ll taste without it.

    Have a good day all!
    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
    • zcrat41
    • By zcrat41 10th Aug 18, 6:08 AM
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    zcrat41
    Morning all. I'm not sleeping well in this heat at all. I seem to be up at 5am at the moment no matter what. I can't even get on with anything useful as the children would wake up and they desperately need their sleep!

    So yesterday, instead of doing my normal online shop which would have been about £80 and last a week I did Lidl with a meal plan/list and £37 should last me for 5 days. I'll be really impressed with myself if I can make that stretch.

    Work day today. Kids will be off to the library and playing at home with the Nanny. Doing a deal this morning that might net me a bit of cash
    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
    • zcrat41
    • By zcrat41 11th Aug 18, 6:55 AM
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    • 4,133 Thanks
    zcrat41
    Good day yesterday. NSD and I completed the deal meaning I earnt 10% of my annual drawings in 1 day! Well chuffed with that!

    Off the the church fete today. Will be giving the kids £10 to spend each.

    Still v tired after the last few weeks at work. dh and I doing an awful lot of bickering at the moment which o don't like.

    Have a good day all.
    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
    • zcrat41
    • By zcrat41 12th Aug 18, 6:04 AM
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    zcrat41
    Morning all. Good day at the fete yesterday. Managed to keep within budgeted spends.

    Not impressed with dh today. He's invited his parents for lunch last minute today. I'm shattered and could do without it and have only basic meals in so I might have to go shopping.

    I keep waking up at 5am and not being able to get back to sleep and it's beginning to drive me nuts. I'm shattered!
    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
    • zcrat41
    • By zcrat41 12th Aug 18, 4:47 PM
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    zcrat41
    Just wanted to share my parenting win.

    Realised my old chest freezer has a lock on it. Kids are now old enough to open it themselves. The minute my back is turned they're in there rooting around and helping themselves toy summer stash of lollies.

    But Ebay has come to my rescue and for the princely sum of £4 I will have them foiled by the end of the week!!
    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
    • zcrat41
    • By zcrat41 14th Aug 18, 10:56 AM
    • 1,501 Posts
    • 4,133 Thanks
    zcrat41
    Morning all. NSD yesterday. Ds1 is on a holiday camp this week which he is loving. £25 for the week is a bargain!

    I've done a big shop with Waitrose online so that i can use their £20 off the next 6 shops vouchers. That means my cheapie Lidl shop did the trick.

    Should be a NSD for me today as I'm at work.

    Have a good day everyone.
    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
    • zcrat41
    • By zcrat41 15th Aug 18, 8:58 AM
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    zcrat41
    Hello. Was messing about with my mortgage online this morning. I'm not sure whether to set up a regular o/p of £131 pm it to save it all and pay in a lump sum every now and again. As long as my payments are under 1k they'll reduce the balance and not affect my normal acc.

    Hopefully a nSD today. Might have to buy DD a chocolate cake as I promised her one if she stayed in her own bed!
    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
    • julicorn
    • By julicorn 15th Aug 18, 9:24 AM
    • 360 Posts
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    julicorn
    I'd probably just pay it off as soon as you have the money, so that it reduces your interest immediately. Unless you can make more money by keeping it in your savings account
    Last edited by julicorn; 15-08-2018 at 10:39 AM.
    Original mortgage: December 2017, £203,495
    MFW start: April 2018, £201,800
    Current: £189,600
    • zcrat41
    • By zcrat41 15th Aug 18, 10:33 AM
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    zcrat41
    That's what I was thinking Juliecorn. The mortgage is at 3.89%. I can probably still get away with having a 5% regular saver as well as doing my o/p so think I'll set it up!
    Thanks
    ZC
    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
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