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  • FIRST POST
    • pinkypig
    • By pinkypig 22nd Jul 17, 6:12 PM
    • 1,259Posts
    • 10,210Thanks
    pinkypig
    And so it begins: The Pig Vs The Mortgage
    • #1
    • 22nd Jul 17, 6:12 PM
    And so it begins: The Pig Vs The Mortgage 22nd Jul 17 at 6:12 PM
    Hi everyone, after literally years of lurking I'd very much like to join you if I may? Having been truly inspired by the commitment and achievements of Secret Saving Squirrel,Tilly and Museumworker I'm finally convinced that the best way of remaining motivated and on task is to keep a diary. I'm hoping that regular reporting will lead to increased levels of accountability and reduced levels of excuse making
    To provide a little background there's me and two piglets. I work fulltime in a job that I enjoy but which is becoming increasingly demanding in terms of time and energy. Consequently,I want to achieve financial freedom within 7 years. I aim to do this through a combination of increased voluntary pension contributions and overpayments on my mortgage.
    I find discussing these things in RL a little uncomfortable as most of my peers don't really get where I'm coming from. The perception seems to be that to live thriftily is to endure a miserable existence and living a full life involves endless spendy hobbies and events. I know the folks on here are kindred spirits so I'm hoping for a place to celebrate success and to off load anxieties as I embark on my slightly scary but rather liberating journey to freedom
    Last edited by pinkypig; 22-07-2017 at 6:22 PM.
Page 20
    • pinkypig
    • By pinkypig 3rd Jan 18, 8:45 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    Thanks very much for your thoughtful reply PP. I am definitely feeling the MFW love. Looks like you had a brilliant 2017, it's amazing how far you have come. You should be a very proud piggy indeed. Looking forward to watching your progress in 2018.

    I was fit when I started running so I didn't need to run-walk but those days are long gone. I have found a local group that is doing C25K, starting tomorrow so I will get my !!! there and accept I have to re-start from the very beginning. I always liked company when I ran. I wasn't going to because I won't be able to make it consistently because of work but you have made me pull myself together. I do work crazy long hours and I find that I use that an excuse to be lazy. One of my colleagues did a marathon last year and eats well so I need to stop that... (Insert slap emoticon)
    Originally posted by sofarbehind
    Good for you, I bet you'll really enjoy it. I have a weekend running buddy - always look forward to it.
    • sofarbehind
    • By sofarbehind 3rd Jan 18, 9:02 PM
    • 288 Posts
    • 1,228 Thanks
    sofarbehind
    Good for you, I bet you'll really enjoy it. I have a weekend running buddy - always look forward to it.
    Originally posted by pinkypig
    'enjoy' is probably optimistic, as long as I go that is enough. I'm so annoyed that I've let myself loose all my fitness but getting back on the horse is all that really matters. Having a running buddy means you can pretend to be socialising instead of exercising.
    Save 12k in 2015, Number #052 (19.4k)
    Save 12k in 2016, Number #031 (15.1)
    Save 12k in 2018, £3500 / £10k target

    Mortgage overpayments 2018: £1388
    Huge mortgage £138K
    • pinkypig
    • By pinkypig 3rd Jan 18, 9:16 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    I have a daily update which is nice but novel after all my ruminating, reviewing and planning

    Successes

    Feeling really positive and energised
    Made a job lot of muesli using odds and ends of dried fruit and nuts lurking in the cupboard and a large tub of overnight oats using a handful of ys blueberries from the freezer and two squishy pears rather than apples. I now have a couple of weeks worth of grab and go breakfasts for when I return to work (tomorrow).

    Tidied out the spice cupboard and refilled the large cliptop jars with lots of lovely bought in bulk spices. Lots of curries and tagines on the horizon

    Spoke to my accountant about the most tax efficient way to bolster my pension. He's going to have a play around with some numbers and get back go me. Desperately need some advice as to the maximising what's going in and I find the pensions board a bit scary

    Set up spreadsheets (first time ever ) for grocery, personal spends, annual costs and gifts/Christmas. Probably bread and butter for most mfwers but I'm a technically challenged

    Left over pasta for lunch and hm sweet and sour chicken for dinner which was lovely but a bit too sweet will not bother adding sugar next time as I think the pineapple and juice will be sweet enough.

    Put my 2017 spending diary safely away and started my 2018 notebook ( a lovely handbag size Xmas teacher gift ). Love a new notebook - get the urge to fill it with lists

    Set my 2018 goals but want to sleep on them.

    Laundry folded and away. One bed changed.

    Small grocery spend on milk, oats and yogurt.

    Asda Xmas wrap and gift bags 75% off so stocked up for £2.25 they had gorgeous reindeer mugs but still £2 each from £3.50 so as there were loads of them I'll keep an eye and see if they reduce them again as they'd make lovely gifts.

    Did my first power class in a month Legs are like jelly.

    Less successful

    Not drunk enough water. This isn't coming naturally so must try harder.

    Some paper work to do for school not quite finished so I must do it at the weekend as I don't want to start the term playing catch up.

    Off to read for a bit as I'm determined to get enough sleep.

    PP xx
    • pinkypig
    • By pinkypig 3rd Jan 18, 9:20 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    'enjoy' is probably optimistic, as long as I go that is enough. I'm so annoyed that I've let myself loose all my fitness but getting back on the horse is all that really matters. Having a running buddy means you can pretend to be socialising instead of exercising.
    Originally posted by sofarbehind


    You're right its more endure initially - enjoy comes much later!

    Good for you getting started - you don't need me to tell you that the toughest part of any run (especially in January) is getting out of the door!! Xx
    • Cicatriz
    • By Cicatriz 3rd Jan 18, 10:04 PM
    • 44 Posts
    • 146 Thanks
    Cicatriz
    Hijack away batch cooking buddy. Happy New Year to you xx
    Originally posted by pinkypig
    And Happy New Year to you , too!

    And best wishes with the exercise. Never pleasant after a break or Christmas. Especially both!
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 4th Jan 18, 3:24 AM
    • 1,461 Posts
    • 6,953 Thanks
    wishingthemortgaheaway
    I love a good notebook and what a thoughtful gift from a child.
    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
    • pinkypig
    • By pinkypig 4th Jan 18, 6:38 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    2018 ...
    Survived my first day back so now its time to focus on my goals before I get sidetracked by a busy term.

    I've mulled these over until I've driven myself quite mad! Some are very simple but one isn't. Yep its pension contributions v mortgage overpayments
    20% tax relief (soon to be 40%) is such a bonus its a bit of a no brainer on the face of it. However, once that money is gone from my salary its gone until I retire and that makes me a bit nervous. Similarly, and its purely psychological, having a mortgage weighs heavily on me and I want it gone!

    I currently work towards an os payment of £400 which would pay off my mortgage in 7 years (I offset rather than over pay so I have the flexibility of available funds if needed whilst saving on the mortgage interest which is win/win so long as I stay disciplined and don't touch it). In addition to my contributions to the TPS I also pay £1000 into an avc (at a cost of £800 to me) which is deducted from my salary.

    Based on the last 5 months I have exceeded my os target considerably which is great but on reflection I think the balance of payment should be weighted more towards my pension as this attracts a minimum of 20% relief whereas my os payment saves 2.75% in interest. Also, from April I will tip into the higher rate tax bracket which means my tax relief will be 40%.

    Consequently after much toing and froing I've decided my savings ta targets will be;

    AVC £1,100 from Jan to March. I will increase it in April when my tax changes but how and by how much will depend on the accountant's advice.

    My os target will be £500 although around £70 will come from my os benefit so I actually need to find £430.

    These are a step up from last year so thrift will be required! I will also consider making an additional one off payment into my avc at the end of the tax year if I find I've os more than £430 pm.

    So in essence a decision based on a fair amount of head but a little bit of heart


    Other financial targets based on lessons learned from last year's spending will be ;

    Grocery £32 PW
    Personal £11 PW
    Fuel £30

    These are per week to iron out the stress of those 5 week months

    Car £500 pa
    Holidays £1000 pa
    House £300 pa
    Gifts £375 pa

    I'm ever mindful that I'm playing a long game and that setting challenging targets whilst necessary (and quite exciting ) can feel overwhelming when you hit those inevitable bumps in the road or when your mojo is waning or has deserted you completely

    To try and combat this I'm also going to focus on some wellbeing goals as I just operate more efficiently when I'm physically and mentally on top of my game.

    Wellbeing goals, in no particular order are;

    Exercise 4 times a week

    Drink 2 litres of water a day (I know, but if I keep writing it down I might eventually do it).

    Get at least 7 hours sleep

    Keep marking and assessments up to date

    Do daily cleaning tasks (I've accepted that a clean, organised home is essential to my wellbeing)

    Do home filing/admin weekly

    Eat regularly and healthily

    Do something social every week

    Do some garden jobs, how ever small every other week

    My next step is to translate these into some meaningful and measurable actions

    PP xx
    • pinkypig
    • By pinkypig 4th Jan 18, 6:40 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    I love a good notebook and what a thoughtful gift from a child.
    Originally posted by wishingthemortgaheaway
    He's generally oblivious to everything - must have a nice mum
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 4th Jan 18, 7:05 PM
    • 1,461 Posts
    • 6,953 Thanks
    wishingthemortgaheaway
    He's generally oblivious to everything - must have a nice mum
    Originally posted by pinkypig

    Ooh, I've taught many of those. Once had a child who did nothing but talk for the entire year, couldn't sit still and was very draining, lovely but draining. At the end of the year my gift was a coffee shop voucher and a note from mum.

    'Enjoy a cup of tea in peace and quiet on me'

    Very very welcome, thoughtful and apt.
    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
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 4th Jan 18, 7:07 PM
    • 1,461 Posts
    • 6,953 Thanks
    wishingthemortgaheaway
    Survived my first day back so now its time to focus on my goals before I get sidetracked by a busy term.

    I've mulled these over until I've driven myself quite mad! Some are very simple but one isn't. Yep its pension contributions v mortgage overpayments
    20% tax relief (soon to be 40%) is such a bonus its a bit of a no brainer on the face of it. However, once that money is gone from my salary its gone until I retire and that makes me a bit nervous. Similarly, and its purely psychological, having a mortgage weighs heavily on me and I want it gone!

    I currently work towards an os payment of £400 which would pay off my mortgage in 7 years (I offset rather than over pay so I have the flexibility of available funds if needed whilst saving on the mortgage interest which is win/win so long as I stay disciplined and don't touch it). In addition to my contributions to the TPS I also pay £1000 into an avc (at a cost of £800 to me) which is deducted from my salary.

    Based on the last 5 months I have exceeded my os target considerably which is great but on reflection I think the balance of payment should be weighted more towards my pension as this attracts a minimum of 20% relief whereas my os payment saves 2.75% in interest. Also, from April I will tip into the higher rate tax bracket which means my tax relief will be 40%.

    Consequently after much toing and froing I've decided my savings ta targets will be;

    AVC £1,100 from Jan to March. I will increase it in April when my tax changes but how and by how much will depend on the accountant's advice.

    My os target will be £500 although around £70 will come from my os benefit so I actually need to find £430.

    These are a step up from last year so thrift will be required! I will also consider making an additional one off payment into my avc at the end of the tax year if I find I've os more than £430 pm.

    So in essence a decision based on a fair amount of head but a little bit of heart


    Other financial targets based on lessons learned from last year's spending will be ;

    Grocery £32 PW
    Personal £11 PW
    Fuel £30

    These are per week to iron out the stress of those 5 week months

    Car £500 pa
    Holidays £1000 pa
    House £300 pa
    Gifts £375 pa

    I'm ever mindful that I'm playing a long game and that setting challenging targets whilst necessary (and quite exciting ) can feel overwhelming when you hit those inevitable bumps in the road or when your mojo is waning or has deserted you completely

    To try and combat this I'm also going to focus on some wellbeing goals as I just operate more efficiently when I'm physically and mentally on top of my game.

    Wellbeing goals, in no particular order are;

    Exercise 4 times a week

    Drink 2 litres of water a day (I know, but if I keep writing it down I might eventually do it).

    Get at least 7 hours sleep

    Keep marking and assessments up to date

    Do daily cleaning tasks (I've accepted that a clean, organised home is essential to my wellbeing)

    Do home filing/admin weekly

    Eat regularly and healthily

    Do something social every week

    Do some garden jobs, how ever small every other week

    My next step is to translate these into some meaningful and measurable actions

    PP xx
    Originally posted by pinkypig
    Those look like good goals. We should be having the pension vs overpayments debate, but I'm not going to say what state our pensions are currently in. (At least my tps will pay out 50p a week, or something, when I reach 99)
    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
    • pinkypig
    • By pinkypig 4th Jan 18, 8:41 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    Those look like good goals. We should be having the pension vs overpayments debate, but I'm not going to say what state our pensions are currently in. (At least my tps will pay out 50p a week, or something, when I reach 99)
    Originally posted by wishingthemortgaheaway
    I know compared to most the tps is great so I'm loathe to moan but when I saw how much I would get if I went before 68 I nearly choked Hence the hefty AVC Hope its not too little too late!
    • pinkypig
    • By pinkypig 4th Jan 18, 8:41 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    Ooh, I've taught many of those. Once had a child who did nothing but talk for the entire year, couldn't sit still and was very draining, lovely but draining. At the end of the year my gift was a coffee shop voucher and a note from mum.

    'Enjoy a cup of tea in peace and quiet on me'

    Very very welcome, thoughtful and apt.
    Originally posted by wishingthemortgaheaway
    Such a good one
    • pinkypig
    • By pinkypig 4th Jan 18, 9:57 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    Today has been a good day, not without its frustrations (traffic ) but good nonetheless.

    I'm still pondering steps that will turn my goals into steps but in the meantime successes have included;

    Visited mum and dad who are ticking along nicely.

    Cheap healthy eats (overnight oats for breakfast, lo salmon pasta for lunch and batch cooked veggie curry and hm naan for dinner).

    Booked car in for a service - good that its done but hope it doesn't blow my January figures.

    Marking up to date.

    Bins and recycling sorted out and collected

    Daily cleaning tasks done

    Got some ys salad and artisan bread

    Less successful

    1.5 litres of water drunk

    Missed my spin class - stuck in traffic

    Onwards and upwards

    PP xx
    • CathT
    • By CathT 5th Jan 18, 9:00 AM
    • 5,586 Posts
    • 38,885 Thanks
    CathT
    Pensions terrify me too! I work for a large public sector organisation and it usually provides a good pension but who knows what the future holds! Seeing my pension pot figured online makes no difference and I'm still clueless as to it's real value!

    Definitely another one in vote of tidy house, tidy mind. I'm aiming to do a bit each morning before work but keep snoozing my alarm currently!
    June 2018 -
    part 1 - £77,571
    part 2 - £45,272
    Total - £122,843
    • blocpartyfan
    • By blocpartyfan 5th Jan 18, 9:16 AM
    • 49 Posts
    • 233 Thanks
    blocpartyfan
    Pensions terrify me too! I work for a large public sector organisation and it usually provides a good pension but who knows what the future holds! Seeing my pension pot figured online makes no difference and I'm still clueless as to it's real value!
    Originally posted by CathT
    I completely agree Cath T. I don't trust that my pension will do very much for me at all - and just hoping that it serves as a bit of extra cash if and when I get to extract it!
    Mortgage when started: £200,999
    Current mortgage (2nd Jan 2018): £135,000
    Mortgage free day planned for: 25th June 2025 (day before my 40th birthday!)
    • Karmacat
    • By Karmacat 5th Jan 18, 11:15 AM
    • 29,312 Posts
    • 167,824 Thanks
    Karmacat
    What an amazing series of posts in the last 36 hours! PP, thank you for "hosting" your positivity and application are fantastic.

    As for pensions ... sigh ... I've now been retired for 16 months because of ill health, after 30 years of self employment, and I still haven't sorted what I've got, stuff gets in the way - right now, its year-end accounts in England and France, and making sure my front garden doesn't have any more surprises from Storm Eleanor.

    Oh, and the health issues ... I'm pretty sure my chronic fatigue has gone, but its left my stamina and my sleep in appalling states. So although I can do more, I'm starting on the council's healthy walks programme, which is only 30 minutes, next Monday. Here's hoping I actually go ... no, I *will* go.
    Retired August 2016
    • Downshifterella
    • By Downshifterella 5th Jan 18, 1:17 PM
    • 122 Posts
    • 778 Thanks
    Downshifterella
    Fab updates PP

    Another confused by pensions here ....need to make some proper time to sit down and figure if I'm paying in enough! I'm at the maximum my employer will match...but not done the maths if that's anything like enough to live off in the future!

    Well done too on the running pp ! Been poorly this week so not managed to get out ...desperate to get back up and running but think I need to walk before I can run so don't make myself iller! Doh!

    Some great teacher gifts going on in this thread too!
    MF planning for the simple life
    • pinkypig
    • By pinkypig 5th Jan 18, 7:46 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    Pensions terrify me too! I work for a large public sector organisation and it usually provides a good pension but who knows what the future holds! Seeing my pension pot figured online makes no difference and I'm still clueless as to it's real value!

    Definitely another one in vote of tidy house, tidy mind. I'm aiming to do a bit each morning before work but keep snoozing my alarm currently!
    Originally posted by CathT
    I completely agree Cath T. I don't trust that my pension will do very much for me at all - and just hoping that it serves as a bit of extra cash if and when I get to extract it!
    Originally posted by blocpartyfan
    Fab updates PP

    Another confused by pensions here ....need to make some proper time to sit down and figure if I'm paying in enough! I'm at the maximum my employer will match...but not done the maths if that's anything like enough to live off in the future!

    Well done too on the running pp ! Been poorly this week so not managed to get out ...desperate to get back up and running but think I need to walk before I can run so don't make myself iller! Doh!

    Some great teacher gifts going on in this thread too!
    Originally posted by Downshifterella

    Pensions are that heady mix of complicated and very important - terrifying indeed I'm petrified of doing (or not doing) something now that will have massive repercussions later.

    Sorry you're feeling poorly Ella, hope you get better soon.

    Welcome BPF

    Hit snooze myself this morning Cath and it was only my second day back
    • pinkypig
    • By pinkypig 5th Jan 18, 7:50 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    What an amazing series of posts in the last 36 hours! PP, thank you for "hosting" your positivity and application are fantastic.

    As for pensions ... sigh ... I've now been retired for 16 months because of ill health, after 30 years of self employment, and I still haven't sorted what I've got, stuff gets in the way - right now, its year-end accounts in England and France, and making sure my front garden doesn't have any more surprises from Storm Eleanor.

    Oh, and the health issues ... I'm pretty sure my chronic fatigue has gone, but its left my stamina and my sleep in appalling states. So although I can do more, I'm starting on the council's healthy walks programme, which is only 30 minutes, next Monday. Here's hoping I actually go ... no, I *will* go.
    Originally posted by Karmacat
    Hiya KC . I'm not usually so prolific. Usual, shoddy service will resume shortly

    I hope your CFS has subsided, it must be horrid. I had a couple of weeks of feeling tired after my flu and that was enough for me, don't know how anyone copes with that long term Glad you feel up for your walk, I'm sure you'll enjoyit.

    Congrats on managing early retirement - you're my hero
    • pinkypig
    • By pinkypig 5th Jan 18, 8:14 PM
    • 1,259 Posts
    • 10,210 Thanks
    pinkypig
    Two day week- what's not to like?
    It's Friday Still feels lovely even after a two day week - I'm such a lightweight!

    Today has flown. I had a busy but good day at work and I didn't leave until I'd finished my marking and next week's planning was done Let's see how long that lasts ...

    Other successes included;

    Cheap, healthy eats (porridge, lo duck fried rice from the freezer for lunch and 'mock' roast dinner tonight - I used 2 packs of 10p carvery meat cooked in gravy, free shopium roast potatoes and lo cauli cheese and roast veg from Christmas. Cheap as chips and no effort except a bit of defrosting).

    Drank just under 2 litres of water

    Daily cleaning tasks done before work. Only took 10 mins to sweep the kitchen floor and wipe round the sink and the bathroom but what a difference. Nice to come home to

    NSD - need more of these

    Knocked back extortionate landlord's insurance renewal. £252, I found a policy via TCB for £169 and £91 cashback has tracked Paid on my CB cc so that's another bit of free money! It was also a better policy as it had owner's liability included rather than having to add it as an extra.

    DC on great form. Missed them being around this week. Looking forward to a bit of family time

    Tomorrow's to dos include;

    Very small food shop with a list. We'll be living off recent ys bonanza for weeks

    Finish tidying the garden

    Help DS with homework

    laundry

    get out for a run

    Make pizza dough ready for pizza night

    Happy Friday to you all, have a happy, thrifty weekend

    PP xx
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