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    • squirrelgirl
    • By squirrelgirl 12th Mar 17, 3:44 PM
    • 205Posts
    • 1,221Thanks
    squirrelgirl
    Squirrelgirls MF quest
    • #1
    • 12th Mar 17, 3:44 PM
    Squirrelgirls MF quest 12th Mar 17 at 3:44 PM
    I am venturing into the MF Wannabe world!!

    I have recently come to the end of my mortgage deal and have got a new one which runs to the 31st March 2019. My plan is to clear my mortgage on 1st April 2019

    I have an offset mortgage, so I can spend between now and then either paying off the capital or putting the extras into the offset savings - knowing me, it will probably be a combo of both as I really like seeing the figure I owe drop (it's a psychological thing!! ) until I get close to the end, then it will have to go into the savings so that I don't accidently pay it of too soon and end up with early repayment charges

    My mortgage is actually due to finish in 2024 - and although I have paid a considerable sum off over the past 5 years or so, I haven't made any op's for about 2 years as I took a break from work. I have several things that I need to sort financially between now and the end of November, so my bigger op's won't start till then, but I am going to make every effort to put at least £50 extra per month towards it until then.

    My ability to save money on food and household products is limited as I don't use supermarkets and buy everything as ethically as possible - this means that I am going to have to be creative and stretch what I have as far as possible I do have a massive stockpile of dried goods and a freezer full of stuff so I am going to be able to minimise my spends over the next month or so.

    I will go over my 'bills' budget too and see where I can make savings - I currently overestimate everything bill wise and can probably reduce the amount we put in by at least £10 - once I have checked out what is in there, I will tilly-tidy the surplus and make a start!

    I am reasonably confident that I will be getting a very small pay rise in April and hopeful that dh will too, so am intending to put that towards the mortgage - we have a persie amount each which is adequate for now so I'm happy to utilise any increases we have for op's.

    Right, off to check out the bill account and see what I can do!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
Page 3
    • squirrelgirl
    • By squirrelgirl 21st Jan 18, 9:42 AM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Not long before I see how I've done on the first month but I know that it will be short

    We've had to buy a new radiator for the kitchen and I need to put the car through a service and its mot- I'd totally forgotten about it as it's original arrival coincided with the arrival of my grandbaby! Hopefully all will be well but I have to see how it turns out before I can come to final figures.

    Winter is always my most expensive season - solstice; house insurance; car insurance and mots for both cars; tax for one car; two birthdays and one anniversary!! Thankfully I'm normally prepared but my car thing just didn't equate and the radiator was unexpected! I'll be able to cushion much of the blow due to emergency pots but it's still irritating and will have an impact.

    This week just hasn't gone according to plan - I've been lax financially and I know that it's going to make life more difficult. However, i'm not going to let it define my future actions by using it as an excuse to continue being stupid.

    Today I will get quotes for broadband, car insurance and breakdown cover. I'm going to make the menu for the week ahead and get my budgets up to date...I need to get back in control and on the wagon!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • squirrelgirl
    • By squirrelgirl 21st Jan 18, 4:25 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Change of plan- decided to check out all my 'pots' and put the intended amount into the monthly house improvement payment - if I don't have enough for everything I'll take some out again to cover....I'm saving for the improvements in the offset and interest is charged daily so it can't hurt!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • squirrelgirl
    • By squirrelgirl 6th Feb 18, 3:35 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Well January turned out okay...hit the target and sorted quite a few other bits out. However, February is a total write off!! dh and I decided to have a weekend away and spent a fortune basically, I have put a minimum of a month on our target - although it's unfortunate, I'm okay with it, we had a fabulous time and it was worth it

    What it does mean is that I have minimal wiggle room now....hopefully I can reduce the costs of the house improvements a bit and claw some back there but one way or the other, my mortgage is still going on 1st April next year!

    I'm hoping for a low spend week this week - I'm going to do the meal plan and shopping list tomorrow then sort out a couple of bills and the house. I've got a good vibes about this next month, I think that I can start to make an impact on my plans and move things forward
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • mortgage_girl
    • By mortgage_girl 16th Feb 18, 3:22 PM
    • 852 Posts
    • 3,916 Thanks
    mortgage_girl
    I'm hoping for a low spend week this week - I'm going to do the meal plan and shopping list tomorrow then sort out a couple of bills and the house. I've got a good vibes about this next month, I think that I can start to make an impact on my plans and move things forward
    Originally posted by squirrelgirl
    Keep those good vibes going SG Try not to worry too much about your weekend away - it's important to live a little too.

    MGx
    2018: £1313.85 / £9,300
    2017: £7646.64 / £11,000 2016: 4557.98 / £11,000 2015: £10,230.37 / £11,000 2014 =£6703.26 / £11,000 2013 = £4288.51 / £8000 2012 = £1600/£5000 2011 = £2579/£3000
    MF date was Nov 2041 - now April 2022

    • squirrelgirl
    • By squirrelgirl 28th Feb 18, 1:47 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Well, nothing improved!! February a total disaster and March will be too!!

    I have a chaotic month ahead which will prove expensive so I'm expecting that March's salary will be consumed by it.

    That gives me only 11 months to clear the mortgage and do the house...in all honesty, I don't see that I can do it however, I'm going to get as close as I can....it probably means postponing start dates on the house as getting rid of the mortgage is too close to let go of, whereas I am happy to extend the house renovation fund for a couple of extra months....

    I need to get myself back in the right mindset and start fighting again....I can't keep letting this complacency win
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • squirrelgirl
    • By squirrelgirl 1st Mar 18, 1:05 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Enforced nsd's yesterday and today...we're snowed in! I'm okay with it as it gives me a chance to get myself a bit more organised as I've been running around like a headless chicken for the past 4-6 weeks!!

    I've sorted insurances, breakdown cover and the electricity bill- we have the old cars mot this month though so that's going to have a massive impact on which way we move forward. We may have to buy a 'new'car so I want to know asap!

    Anyhow, I'm pretty comfortable with having some me time...I'll work out ways to reduce my expenditure as much as possible over the next month
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • squirrelgirl
    • By squirrelgirl 12th Mar 18, 11:45 AM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Mot booked for Friday so I'll feel better when I'm back on top of that as far as knowing what i need to do

    I'm going to clear the cc this month of outstanding debt and have a figure in my head that I am not prepared to go over - until I see what cash remains, I can't say I won't need to use it still. Once i check what remains this month cash wise, I will be extremely careful with the use of either!

    I still have a number of prebooked social events this month then I'm pretty much putting a stop to it all - I really need some time off and weekends to do things at home!

    I'm hoping to put 1k to the savings the month- it's not going to be easy to achieve but I have to get some progression before I start to lose hope!!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • squirrelgirl
    • By squirrelgirl 9th Jul 18, 8:09 AM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    It's been how long??!!!

    Well, I can safely say that there's little to no chance of being mortgage free and house sorted by April 2019!

    This year has been insane - socially, it's been every weekend, the odd one that hasn't, I've worked! It's been a great deal more expensive that expected too and that's impacted greatly on the financial plans. So, I'm not going to make ridiculous attempts to rectify it, I'm just giving myself 12 months from now to have it sorted and paid for. That is challenging but achievable.

    I'm currently decluttering the house and getting quotes for windows and doors. I've approached an electrician and will do some more this week. Once I have dates for the sparky and the windows, I can book the plasterer and decorator.

    My job has changed and I'm working from home which means a slight increase in income and a huge increase in time! it will enable me to maintain the house better, fit in some exercise and gives me less spending opportunities

    Seriously though, it makes life easier for me - I can make time for coming on the boards, doing more for my house and me and I'm much more productive without the constant interruptions of an office!

    I'm going to run through figures when the quotes come in- it's pointless doing anything before that but I know that all increases in income that arise from the job change will be coming off the mortgage. In fact, all 'spare' income will be off the mortgage - the house expenditure will be my salary only - that way I'm still making inroads on the mortgage however small

    Right, off to appointments now...hoe everyone has a great day!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • greent
    • By greent 9th Jul 18, 5:43 PM
    • 7,152 Posts
    • 72,793 Thanks
    greent
    Congrats on the new job!

    Still sounds like you're looking to be MF end of 2019? - I'd say that's pretty darn good! x
    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) £2772.47/£4000
    Net sales 2018 £548.92/£1000 PAYDOX18 (#15) Done £18918.90
    • squirrelgirl
    • By squirrelgirl 11th Jul 18, 5:46 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Thanks greent!!

    It's still good but I'm disappointed that it won't be as early as I'd hoped but no point in worrying about it

    Today I've made a tartiflette for dinner, using up a bag of potatoes, a box of vegan chorizo, a carton of soya cream, a sad onion, the remains of a jar of dijon mustard and the remains of a bottle of wine....dh will be watching the footie so it's easy to eat without effort!

    I am very stocked up with food so there may be some savings from that this month...I am also hoping that we'll have a bit of petrol money left over so if we do, I'll be putting that to the mortgage ....

    I should have the remaining quotes for the windows at the end of this week and I am waiting for my sparky to come over to quote so I'll be able to make some decisions at the weekend on timings....just want to get it started really!!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • squirrelgirl
    • By squirrelgirl 14th Jul 18, 12:15 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Okay, we've decided on the windows and paid the deposit. I have guesstimated the remainder of the renovation costs and the remainder of the mortgage and have worked out when I can realistically pay it all off/get it all done.

    My best guesstimate is 22nd Dec 2019. That's on the premise that nothing goes over budget and there are no financial catastrophes in the next 17 months!!

    My plan is to put additional salary to the mortgage, budget savings will be split between the house fund and the mortgage fund. I am going to do everything I can to reduce this time frame - thankfully I have cupboards with enough essentials (food, toiletries, laundry and cleaning) to last six months with top ups of fruit, vegetables, bread and milk (for dh & ds). I will make any additional purchases only if absolutely essential so i should have leftover funds from that. Working from home should leave a surplus in the fuel budget and I am going to reduce the use of everything I can think of!

    I will minimise waste, think if I could use an alternative before I purchase anything I need and account for every penny. It's going to be 527 days of being money conscious to a level and consistency that I haven't previously shown so I know there's going to be a lot of work to do!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • greent
    • By greent 14th Jul 18, 4:16 PM
    • 7,152 Posts
    • 72,793 Thanks
    greent
    But 527 days isn't *that* long - and what a fab feeling it will be! x
    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) £2772.47/£4000
    Net sales 2018 £548.92/£1000 PAYDOX18 (#15) Done £18918.90
    • squirrelgirl
    • By squirrelgirl 17th Jul 18, 8:01 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Thanks greent you're right but it feels so far away at the moment!

    Anyhoo, some good news...the ballpark figure from my sparky is around 1k less than my budget!! obviously, I need a definite figure but I'm pretty happy with that!

    I'm really torn at the moment with how to split budget savings ....the reality is, the current state of the house depresses me; the shorter the period of time my house is in turmoil, the better for my mental health; paying off the mortgage is so important to me but could be done on one salary should anything happen, the renovations could not; the quicker the house is done I can throw everything I have at the mortgage. Conversely, the mortgage is low now, less than 20k and I could clear that in less than a year; owning my home outright is something I have been working towards for quite some time and there's no reason to think that I won't be able to keep my job for as long as it suits me so I can still do the house after the mortgage is paid.

    Both make perfect sense - in lots of ways, that's the worst part of it!! I'll just have to give it more thought!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
    • greent
    • By greent 17th Jul 18, 8:10 PM
    • 7,152 Posts
    • 72,793 Thanks
    greent
    Paying ours off before doing work or investing money at a better return was important because of mental health - for us (esp mr gt) the benefit mentally of owning our house outright massively outweighed everything else. However, if your MH will be affected by work being done to the house over a longer period, then that's definitely a big factor to take account of.

    I think we have to find our own balance of what works for each of us - there's definitely not just the one solution - it would probably be easier if there was!

    Great news re the electrician's bill (when you get it! )
    x
    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) £2772.47/£4000
    Net sales 2018 £548.92/£1000 PAYDOX18 (#15) Done £18918.90
    • squirrelgirl
    • By squirrelgirl 18th Jul 18, 8:53 PM
    • 205 Posts
    • 1,221 Thanks
    squirrelgirl
    Long conversation with dh last night and the decision has been made to throw everything at the renovations then the mortgage

    It does make sense but a little bit of me is crying inside! I know that I'll have to make token ops to keep a tiny shred of it going and I need to remember that the quicker the house is done the faster the mortgage goes - it's really hard though - another delay in my ultimate goal

    However, on the plus side, I will love my sanctuary and it will be wonderful to hold the keys on the day it's all paid for and look at a home I love rather than a house that makes me feel like I live in a squat!!

    Anyhoo, the first £100 has been put into the budget savings pot!! I am really pleased to have made a start and we also found an old lock box with some spare cash in it!! it's only about £10 but we will bank it tomorrow and put it to the fund

    I've got a menu plan for next week (this week it's just using up anything that needs to be used and whatever is in the freezer) so I shall write the list for that - I may swap some ingredients so that I use what's available and minimise waste

    I've got a few 'to-do' proformas printed out so that I can organise everything - home and work. it's all been a big out of control recently and I'm not good when that happens - by the end of this weekend, I want to have a clear pathway forward!

    Anyhoo, early night for me - head has been spinning for days and I haven't slept much!
    15 Month Challenge: House - £3262/£25300; Mortgage - £0/£17000 ;
    MFW No. 167 £300/ £15000
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