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  • FIRST POST
    • muppets
    • By muppets 1st Jul 17, 7:59 PM
    • 787Posts
    • 5,515Thanks
    muppets
    My long slow journey to mortgage freedom
    • #1
    • 1st Jul 17, 7:59 PM
    My long slow journey to mortgage freedom 1st Jul 17 at 7:59 PM
    I have finally decided to move over to the mortgage free part of the forum.
    I became debt free in January of this year. We (DH and I) have been making small over payments to the mortgage for the last 2 years or so, while I was getting out of debt.

    We also have been paying ourselves back for a car we bought with cash last year. The car was needed, but we didn't have enough in the new car fund to cover it. So will continue to pay ourselves back for this.

    At the start of the year our mortgage inc interest was
    Mortgage - 194,886.00 and as of today it is - 188,822.88
    Car Fund Was - 5231.33 and today it is - 4448.55

    While we have been making over payments to the mortgage, they are not classed as over payments as such. Over here they do not allow you to over pay different amounts each month. They O/P we knew we could cover each month has been included in our monthly payment to the bank.

    For the last few months, I have been putting some money by in the mortgage pot on YNAB. Once we have a good amount in the pot, I hope to be able to contact the bank and ask them to pay this off the mortgage. The amount does need to be quite big though, so that will take some time.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
Page 1
    • Westminster
    • By Westminster 2nd Jul 17, 6:01 AM
    • 844 Posts
    • 516 Thanks
    Westminster
    • #2
    • 2nd Jul 17, 6:01 AM
    • #2
    • 2nd Jul 17, 6:01 AM
    Well done - so far so good!
    Hi. Martin has asked me to tell you I'm a Board Guide on the following boards: Mortgages & Endowments, Mortgage-Free Wannabe, House Buying, Renting & Selling, Small Biz & Charities' MoneySaving and Charities.

    I'm a volunteer to help the boards run smoothly, and I can move and merge posts on there. Board guides are not moderators and don't read every post. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.
    • Miss D Meanour
    • By Miss D Meanour 2nd Jul 17, 7:09 AM
    • 115 Posts
    • 813 Thanks
    Miss D Meanour
    • #3
    • 2nd Jul 17, 7:09 AM
    • #3
    • 2nd Jul 17, 7:09 AM
    Good luck with your mortgage 'potting'!
    LBM- June 2009 - 15 year plan started, Dec 2016 - half way there
    SPC - 11 #574 - 500 ........ Xmas 2018 - #11: 182 / 365.
    CCCC 2018 #14 - 0 / 140 ....... PAYDBX 2018 #23: 3,187.35 / 7,000
    Frugal Living - #37 .......... MFW2018 - #2: 3,049.05 / 8,000

    No matter how far you go, you always take yourself with you
    • muppets
    • By muppets 2nd Jul 17, 3:55 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    • #4
    • 2nd Jul 17, 3:55 PM
    • #4
    • 2nd Jul 17, 3:55 PM
    Thank you Westminster and Miss D Meanour
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 13th Jul 17, 12:57 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    • #5
    • 13th Jul 17, 12:57 PM
    • #5
    • 13th Jul 17, 12:57 PM
    Payday for Co #1 and 2 has been and gone. Received payslip from Co#2 last Thursday and it took until yesterday to receive payslip from Co#1. Not happy it took that long.
    While my budget is generally the same each month, I always put some money by for taxes. The last 2 years hubby and I owed money for taxes. While work does take some money out I have been told they don't have tables to work to (like in the UK) so they can't always take the correct amount out.

    Taxes done online for 2016 for both OH and I, this year is the 1st year we are filing jointly due to getting married last year. This year it estimates we are due some money back will see if that is the case when we get the confirmed bill in the post.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 13th Jul 17, 1:13 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    • #6
    • 13th Jul 17, 1:13 PM
    • #6
    • 13th Jul 17, 1:13 PM
    YNAB updated with money put by for next years taxes, had some spare money to put by into savings as well.

    Water bill came today, so will pay that online and also building and contents insurance came today. Will pay both these bills online in a bit.

    Also has some good news today. Our boiler needed a part that would have be replaced under warranty back in 2015 - 2016. We had expected a call from the boiler manufactures back in Oct 2015 and never received it. It had slipped our minds TBH as OH's dad was very ill and passed away in Jan 2016. Fast forward to Feb this year, we called the repair man back and they sent our a man to clean the boiler, who again said the part needed to be changed and they couldn't clean it. So they were going to go back to the manufactures and find out why they didn't call. Heard nothing, so this week OH called again about it, they finally called the manufactures and asked why we hadn't received a call, they claimed they did call, left a message on mobile and as we never called them closed the file. Upshot was the new part would cost 1200 and the repair people could get the part for 1/2 price. OK I was annoyed as I was sure they never called us back in 2015 ad told the repair man so yesterday. So no choice but to suck it up and have to pay for this dam part.
    So finally the GOOD NEWS. We got a call today from the repairs people, the manufactures have agreed we can have the part for FREE, all it will now cost is the fittings which is 170 a lot better.
    So happy with that price.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • jules81
    • By jules81 13th Jul 17, 2:08 PM
    • 46 Posts
    • 269 Thanks
    jules81
    • #7
    • 13th Jul 17, 2:08 PM
    • #7
    • 13th Jul 17, 2:08 PM
    Good luck with becoming MF Hunny, sounds like you are doing great, and well done on clearing debt.

    Look forward to following your journey xxx
    • muppets
    • By muppets 13th Jul 17, 3:05 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    • #8
    • 13th Jul 17, 3:05 PM
    • #8
    • 13th Jul 17, 3:05 PM
    Thank you jules81
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 3rd Aug 17, 2:48 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    • #9
    • 3rd Aug 17, 2:48 PM
    • #9
    • 3rd Aug 17, 2:48 PM
    Since I was last here

    DH had a birthday, which was a bit spendy, but not too bad.
    We went to his cousins wedding and stayed overnight in a hotel, it was budgeted for, a bit spendy though.

    We have been working less hours, the money had been saved through out the 1st part of the year to cover this.

    Over here we don't pay council tax, we pay owners tax, so the bill for that has come in and been paid 315. We also pay city tax, which was also due and has also been paid 39. Both of these could have been paid at the end of the month or even next month, but I wanted them paid so I can forget about them for another year.
    The money is saved over the 12 months to cover these.

    We thought we were due to start back our afternoon work location next week, but it turns out that we don't need to start until the 16th of this month. Meaning that we have 14 hours less pay each then we though we ere getting this month. This was not accounted for and would not have been told yet unless we had asked. Work a useless at giving us info in advance, always leave it until the last min.

    Still waiting for our confirmed tax bill. They take so long with the bills, but expect the payment straight away if you owe them. Typical though lol.

    That's all for now.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 4th Nov 17, 8:01 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    Oooops 3 months since I last posted.

    Whats been happening since

    I've had a big birthday. I got myself a new tattoo, a present to me from me.
    We are back to our full time hours again, saving what spare money we can.

    Work has given us notice, as they may lose the contract for the place we work in. If they win the new contract, nothing changes. If they lose the contract, we get 2 weeks trail work with the company who won the contract.

    Had to take the car into the garage, someone bumped into us while we was parked up. Insurance have paid out some money for the repair and we have to pay 200 excess. The insurance company need to pay us the vat now for the bill.

    Still waiting on the tax bill, I think they owe us some money back this year.

    Hubby needs a new iPod to listen to music in work, I wanted an iPad, we were going to wait until we got our bonus at the end of the year. There was a deal on in the shop, that any apple products bought that week only, you would get a gift voucher. So we used savings to buy them, hubby got a 20 voucher and I got a 40 voucher. When we get our bonus we will be paying savings back for them. We had agreed that we wouldn't use them until we had our bonus, but hubby suggested we wrapped them in the store and save them for christmas.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 4th Mar 18, 5:58 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    OOOPS 4 months since last update.

    Whats been happening since

    Work has given us new official notice that we will be losing our contract for the place we work in. The city extended the contracts until the end of July, which is when one of the places I work at will be closing.

    Changed gas and electric in Dec, we were offered a deal with a new supplier, which gave us cheaper tariff and a discount for changing.

    Received the tax bill, they confirmed in Dec the amount they owed us back and also advised it would take until the end of Feb for the refund. Had the money and used it to top us car repairs pot and house repairs pot.

    Our end of year bonus, we agreed to only use a set amount of it each month, making sure that it lasted the whole year. Glad we agreed that now as not sure what's happening with work at the end of July.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 6th Mar 18, 6:31 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    Wages for Work #1 has hit the bank account.
    Wages for Work #2 should be in the bank tomorrow.

    Need to wait for payslips before I can do the money shuffle though.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 10th Mar 18, 11:51 AM
    • 787 Posts
    • 5,515 Thanks
    muppets
    Payslips arrived, money shuffle done.
    Have moved some money to the mortgage pot and some to the 3-6 months EF. Wanted to send some money to pensions, but trying to save as much spare money as we can over the next 5 months, to ensure we can cover bills when our contracts end.

    Money earned from my S/E business won't receive that until next month though.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 17th Mar 18, 7:49 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    Feels like money has been going out left right and centre.

    Car insurance here is crazy prices, we paid 280 for just basic insurance, no fire and theft included in this price. Fire and theft is only available if you buy fully comprehensive. Which we do want/need as the car is just 3 years old and we have had it for 2 years.
    We had to 500 odd for this part.

    We are also visiting the UK next month for a wedding, so needed to pay for 1 nights hotel and travel. Cost of the tunnel was not so cheap, due to s traveling in the holidays and the day we are traveling back.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 8th Apr 18, 3:49 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    Managed to get locked out of my account. Password was apparantly incorrect. Managed to get back in again using the incorrect password

    Have also been over to the UK for a wedding, stayed with family the 1st night we got there. The night of the wedding we stayed at the hotel of where the wedding took place. Very nice place, but expensive for the bride and groom. Back home the day after. Long drive to the Tunnel and another long drive this side.
    Had a few more days left of our holidays to recover from the quick but long trip over.
    Will be glad to go back to work tomorrow for a rest Think both hubby and I am just glad to be back in a routine. Works not so great but the routine is.

    Since we have been home, we have done the monthly shopping, paid the cable bill.

    YNAB says we have a large amount of money not yet budgeted, need to wait for the pay slips to arrive this week, then we can do the money shuffle.
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
    • muppets
    • By muppets 8th Apr 18, 6:39 PM
    • 787 Posts
    • 5,515 Thanks
    muppets
    Forgot to post this earlier. I wanted to keep track of how much money we have saved this year and how much extra money we have had coming in.

    Money earned from survey - 8.01
    Extra work - 89.33
    Road kill - 21
    Money off / discounts - 392.36
    Vouchers - 10
    Shopping money saved - 33.39
    Interest from bank - 5.96
    PAYDBX 2017 - #01 Pd 10,446.83 / 11,000 - 94.97%
    SPC10 #93
    MFiT-T4 #9
    3-6 mth EF #69
    4,300 / 15,000 Wombles #24 = 540.20
    Mortgage - PD 86,136.83/ 271,495.07 31.72% MF Aug 2038 Sept 2035
    My long slow journey to mortgage freedom
    My diary - Making a move on debt
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