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    • DFB35
    • By DFB35 2nd Jun 17, 1:56 PM
    • 367Posts
    • 704Thanks
    Keeping track of my mortgage - turning a new leaf
    • #1
    • 2nd Jun 17, 1:56 PM
    Keeping track of my mortgage - turning a new leaf 2nd Jun 17 at 1:56 PM

    I want to start a fresh new diary to keep track of my mortgage and general everyday finances. And also to keep track of myself as I seem to be a bit all over the place mentally and when i used to keep a DFW diary in the past it really helped!

    I will start with some figures:

    Mortgage is 249,072 as at April (figures from noodle)
    Remaining term 34 years 3 months - we are 9 months into the 2 year fix

    We are also planning two family holidays which we need to save up for but the long term plan is to focus on overpaying and reducing the mortgage term. We still have some money to return to the mortgage which we took out for an extension which did not go ahead (can give back 10% a year, so its currently sitting in premier bonds). Once all the money have been returned and the 2 year fix has ended we will rethink the mortgage term as well.

    I want to go back to being completely frugal as we were when we were hammering down the debts, and any left over money at the end of the month is to be split between holiday pot and the mortgage pot.

    Im currently build up the annual bills/car/emergency pot as well.

    What we have so far:
    Holiday pot - 2,000
    Annual bills/ Car/ Emergency pot - 500
    Mortgage money pot - 0

    Dont expect this diary to be exciting but if you want to follow my progress and see how I get on feel free and welcome aboard!
Page 2
    • Madcatgirl
    • By Madcatgirl 8th Sep 17, 3:47 PM
    • 327 Posts
    • 3,957 Thanks
    Any chance you could make him a packed lunch/snacks to save that 200 - that's a large amount on a tight budget! You seem to have all else covered.
    March 2016 - 178,914.59; July 2017 146,160.38
    Mortgage end Sept 2043; Target - pay off by March 2022, now Sept 2021
    Target balance July 2018 112,560
    • DFB35
    • By DFB35 8th Sep 17, 4:02 PM
    • 367 Posts
    • 704 Thanks
    Yes I suggested making packed lunch for him for part of the week at least, but still ideally want him to have 50 a week "spending money".

    Also just want to clarify he hasn't asked for it! It's just something I feel important as otherwise if he wants to go out after work, to team lunch etc... he won't be able to and he will be the one earning the cash! He is not a big drinker luckily.

    I know the soa is pretty tight, but hopefully we can manage without touching the savings. If we cannot I will have to reconsider and find a part time job. Even an extra 100 a week will make a big difference!
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 8th Sep 17, 4:43 PM
    • 1,537 Posts
    • 7,474 Thanks
    Wow. Just found your diary, so much has changed in so few posts, but it all seems so positive.

    Regarding your 'career break'
    1) depending on your area of work, people only really care if the break of employment is because you've been invited to stay as a guest of her majesty.
    2) you'll put redundancy as the reason for leaving your last job, so if anybody asks, just say 'wouldn't you take some time to enjoy your family, learn some new skills and really get to know what you want to do? Well, thanks to my redundancy payment, that's what I was able to do. I'm still not in a rush to get back to work, but this job really inspired me and is the only one I've even applied for. So, you're very privileged to have me apply for it. (Ok, maybe don't say that last bit out loud)
    3) you say 'I did really well to get to where I was in my last role without the qualifications that many people now have. I had the opportunity to be able to get those qualifications and ensure my skills are absolutely up to date, now I have those qualifications.'
    4) convince your future new employer that your break is more beneficial for them than someone who hasn't had a break.

    But... don't worry about that now, just enjoy the freedom.
    The 100 payment countdown (each payment = 400) 2018 Starts at 13/100 o/s 34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100 May 20/100 June 21/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1600ish/2,500
    • DFB35
    • By DFB35 11th Sep 17, 12:49 PM
    • 367 Posts
    • 704 Thanks
    Hi thank you for your comments . I also have another couple of diaries one with my debt free journey and another when we were planning an extension- so so glad this didn't go ahead as we would have been massively overstretched!

    I'm feeling positive on the whole but just a little bit scared, and I think anxious which is part of my stress etc and there isn't really a good reason for it. We will be ok on hubbys salary and I will go back to work. Just need a little break!

    I have ordered a few books to help with confidence, self esteem, anxiety so will start working on myself once I have a bit more time.

    On a happy note, I had over 100 credit with British gas, so transferred it to my birthdays/Christmas fund

    Also our first month of the 250 shopping budget is going ok, I have 60ish left until 24th. And enough food for this week

    Speak soon
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