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  • FIRST POST
    • lessavyfav
    • By lessavyfav 15th Aug 17, 9:32 PM
    • 198Posts
    • 280Thanks
    lessavyfav
    Chapter 3: the large London mortgage
    • #1
    • 15th Aug 17, 9:32 PM
    Chapter 3: the large London mortgage 15th Aug 17 at 9:32 PM
    Hello!

    I've had a few diaries before, never had too much by way of debt - but now myself and partner have a giant London-sized mortgage of 499,000. We're first time buyers and it's much bigger than anyone else's mortgage I've read on here frightening. But the truth is, we're double-income, no kids, earning decent money between us so the mortgage is being comfortably paid each month (I say that, two months in!). I'm feeling good about it all.

    We have a 35 year mortgage, 2 years fixed at 2.14% but I'd like to reduce the term by a lot more if possible. So far we've done 350 OP and I'd like to do the same again this month. Very crude calculations tell me if we continue to do this over the term at the same interest rate, we can wipe off more than 8 years. But that doesn't feel enough for me, I want to do it even sooner!

    We have plenty of renovations to do, a car to buy and plans for a kid or two, so we won't be in such a fortunate position over the next few years, but that's even more motivation to overpay while we can.

    Want to keep this diary to keep me accountable, by way of adding extra payments doing surveys, sweeping spare money at the end of the month, keeping an eye on the food and entertainment budget, and my least favourite thing: selling things on ebay. Must remember to build and keep aside the emergency fund too!

    Just signed up to prolific and am already a yougov participant (but cashed out 50 not that long ago so back to square one!). Lots more to do!
    Last edited by lessavyfav; 15-08-2017 at 9:42 PM.
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
Page 1
    • Tropically
    • By Tropically 15th Aug 17, 10:04 PM
    • 253 Posts
    • 742 Thanks
    Tropically
    • #2
    • 15th Aug 17, 10:04 PM
    • #2
    • 15th Aug 17, 10:04 PM
    Hello fellow Londoner!! I too have a large London mortgage. Houses are just not affordable, and renting is pretty awful! My overall happiness is probably 1.5x what it was renting. You can do this! Look, you've already knocked some off! You could post a Statement of Accounts if you wanted. We've taken in a lodger which has been a nice boost over the last couple months.
    Mortgage started at 318,000 in June 2016. Original MF - 2041
    2017 OPs: 7000/7000
    Mortgage in Nov 2017 - 297,808
    • shangaijimmy
    • By shangaijimmy 16th Aug 17, 8:23 AM
    • 2,702 Posts
    • 13,332 Thanks
    shangaijimmy
    • #3
    • 16th Aug 17, 8:23 AM
    • #3
    • 16th Aug 17, 8:23 AM
    Shiny new diary...

    Spend an hour on a spreadsheet (it'll become your prized possession), go through some permutations and make goals. I like to have a monthly as its great for motivation, and then a 6month challenging goal, 1 yr goal, 2 yr, 5yr etc.. I try to tie in my 2yr goal with the current mortgage deal. Bite sized chunks doesn't make it seem so big! Then get yourself prepped to join the 2018 challenge as the sense of community is great (not to mention seeing your progress in green).

    You've already made a great start, you've started a diary and have made plans. Welcome aboard, you'll be addicted to making 5 OP's soon enough!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction 40,984.38
    Aug 2009: 163,051 // Current: 95,015.63 // Avg Daily Interest 4.27
    MFiT-T4 #8 - 74.24% of 41,000
    • lessavyfav
    • By lessavyfav 18th Aug 17, 9:52 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    • #4
    • 18th Aug 17, 9:52 PM
    • #4
    • 18th Aug 17, 9:52 PM
    Tropically - thanks for dropping by, I just had a read of your diary and you are doing brilliantly! I think getting a lodger is a fantastic way to pay off things sooner, but I can't imagine living with other people other than my partner these days. I'm too much of a weirdo

    shangaijimmy - good advice there, I tend to be good at starting a spreadsheet but not so good at keeping it updated. We should definitely be setting shorter term achievable goals for overpayments. I'll take a look at the 2018 challenge for sure, thanks for the tip.

    this week I..
    - Made another 350 payment the same day I wrote my last post, and will no doubt put a little more in before payday depending on how much we spend on holiday the days before!
    - Did okay with lunches this week: 3 out of 5 lunches brought in from home with the other days going el cheapo. But could do better.
    -found out the nroadband bill is going up next month, disappointed with our supplier doing this for the second time in two years. It sucks they don't reward you for your loyalty so might look elsewhere.

    Staying in tonight, and no plans for tomorrow other than maybe finally getting out in the garden, which is overdue. Sunday will be a day out already paid for, so pretty low key and low cost.
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • lessavyfav
    • By lessavyfav 4th Sep 17, 7:46 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    • #5
    • 4th Sep 17, 7:46 PM
    • #5
    • 4th Sep 17, 7:46 PM
    Last month we managed to make 350 overpayment but it was a very expensive month !!!8212; we have a lot on in September but most of it paid for already, so hopefully this month is a little better!

    We've had someone to come round to give us a quote on some work on the house - we most definitely need walls/ceilings smoothed out, some brickwork rendered, new electrics and new radiators (plus moving them around). It's not going to be cheap but will mean we can finally begin to put up our shelves, art, etc. We've held off because our walls are glossy and gross, and all patchy.

    I'm going to tackle my first DIY job soon - painting our front door! I'm petrified of screwing it up, but I'm sure it can't go too wrong, can it?

    Almost 70% paid off my balance transfer and should be on schedule to pay it off by January - cannot wait till I get that 150 per month to use to save/overpay/spend on myself!

    Got to buckle down this month, more homemade meals, less drinks after work!
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • SavvySaver007
    • By SavvySaver007 24th Sep 17, 1:04 PM
    • 26 Posts
    • 111 Thanks
    SavvySaver007
    • #6
    • 24th Sep 17, 1:04 PM
    • #6
    • 24th Sep 17, 1:04 PM
    Good luck on your quest - it's fantastic you have had your lightbulb moment so early on, I know many others wish they had! You're making great inroads already to reducing your mortgage and are definitely taking all the right steps. I am a complete overpayment addict now, and will happily save money wherever I can in order to put some more towards the mortgage. These boards are a fab source of motivation so make sure to keep posting and keep us updated!
    Target: Pay off mortgage in 2018!
    As at 01.01.18: 10,812/66,000 left to pay
    2018 Sub Totals: Emergency Fund: 1,700/3,000 - Swagbucks: 5 - YouGov: 0, OnePoll: 40
    • sleepygirl126
    • By sleepygirl126 24th Sep 17, 1:24 PM
    • 278 Posts
    • 647 Thanks
    sleepygirl126
    • #7
    • 24th Sep 17, 1:24 PM
    • #7
    • 24th Sep 17, 1:24 PM
    I totally echo the others...I wish I'd had my lightbulb moment when I bought my house at 25 and then again when I bought my ex husband out...I'm constantly trying to persuade younger friends to overpay when they've got no responsibilities or kids...it's a damn sight harder on one wage with a dependent DS! Well done you!
    Original mortgage 154,850 (2013)
    Mortgage now 148,370.15

    Original savings 0 (2013)
    Savings now 3000 in ISA and premium bonds
    60 in mini savings pot, 600 in Xmas vouchers
    • lessavyfav
    • By lessavyfav 6th Dec 17, 6:06 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    • #8
    • 6th Dec 17, 6:06 PM
    • #8
    • 6th Dec 17, 6:06 PM
    How's it been so long since my last update? I was never good at committing to diaries, some things never change!

    I have been updating my signature monthly though, mortgage is going down, so is the credit card, while my S&S ISA and Regular Saver are going up. So that's a positive. I didn't get to make an overpayment to the mortgage last month as it was VERY expensive: most Christmas presents bought, lots of friends round (stupid me insisting that no one should bring anything), a car stereo, etc. This month only a small overpayment of 100 but better than nothing. Already I see our LTV is 87% which is much better than I thought!

    A lot has happened since I last posted - I quit my job as I was miserable and decided to start up my own freelance consultancy. It's been a bit slow but I've at least been able to spend the time relaxing, contacting builders/contractors (which is a proper job in itself as it so turns out), exercising, and contacting recruiters and new potential jobs. I have a job lined up until Xmas that pays well so I am happy. Two weeks of work on this job is almost my entire salary at my old job! Must remember I need to keep aside money for things like pension though.

    So with this new change, there is definitely uncertainty when it comes to finances, but also big potential. Am hoping the New Year brings a lot more stable, longer term contract roles too!

    Although it's busy this month, we don't have hugely crazy calendars so I'm hoping spends will be better than they were last month. It needs to be because I earned a lot less!

    Some aims for 2018:
    - Keep saving 400 per month into Regular Saver
    - Only 380 left to pay on the CC which frees up approx 130 per month from April. Use 100 of this to build up an emergency fund, the rest for treating myself (nails, house stuff)
    - Overpayments of $335 per month (have committed to 4000 in the mortgage challenge), of course this is split with my OH
    - Open a LISA for retirement
    - Shop less at M&S food !!!8212; it's our nearest supermarket and costs a fortune! Going to try getting weekly veg boxes and other things from cheaper places. I'd like to give Farmdrop a go..
    - Pay back my parents money they lent us. They've never set a timeframe, but it was 14,000. We have 6,315 aside, so need 7,685. I've been putting this one off and dipping into it to buy house stuff, but it's getting out of hand!!

    I'm sure I'll have more to add to the goals, I need to be more specific around projected spending, like holidays and gifts. Time to have a think...
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • michelle09
    • By michelle09 8th Dec 17, 3:10 PM
    • 777 Posts
    • 4,277 Thanks
    michelle09
    • #9
    • 8th Dec 17, 3:10 PM
    • #9
    • 8th Dec 17, 3:10 PM
    Wow, I thought our 300k was a little crazy. Unsurprisingly, another Londoner here! Well good luck, and you're right, knocking off as much as possible saves so much money. You're on nearly 30/day in interest so every little will help.

    For your parent's money, is it worth giving them back the 6000 you've already saved up? That way you can't dip into it for other things.

    M&S is lovely, but yeah, it's a hefty price tag. I keep checking out TopCashBack because you can quite often pick up deals on food delivery. (We got 13 back on a 26 spend at Asda last Christmas).
    • lessavyfav
    • By lessavyfav 28th Dec 17, 11:53 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    Hi Michelle, a bit slow on the reply but thanks for your comment!

    My parents live overseas and their thinking was that they'd just like the money over here to spend when the come to visit us, that way no more money is wasted on international money payments/lost on bad exchange rates, etc. So the temptation still remains! And sadly we ended up borrowing a bit of that money recently fixing a roof issue Frustrating but i think we should have paid it back next month. That's my main focus for the next few pays.

    My most recent freelance job is going well and pays good (not that they've paid me yet - why must every contract start with payment hiccups?) I am there till end of Feb, possibly longer, which would be amazing for the bank balance, so fingers crossed they keep me for a bit longer!

    We're hosting NYE at ours this year, and I'm pretty happy with how much I've spent !!!8212; usually I would go overboard with buying the most expensive meats, freak out about not having enough time and get spare 'cheat' meals which wind up costing a lot more..this time I've got the guests to bring dessert and cheeses, and I'm sorting starters, mains and most of the booze. I did buy some of the champagne a while back on offer (and have some gifted in the fridge too, as well as a bottle of hendrick's from over a year ago unopened). Very much looking forward to it and feeling more confident in my cooking and entertaining abilities lately, fingers crossed.

    Been DIY'ing with the OH, it's so much slower and harder than I thought but at least it feels like we're achieving things and not just being slack by paying someone - probably what we would have done originally had someone been available..tomorrow is another DIY day, and hopefully some clean up time !!!8212; so over the dust!

    Going to make the venture to ASDA near us too. Oh how different it will be compared to the lovely M&S Food Hall, but I know I can no longer go on spending crazy amounts on the basics for the sake of my laziness.
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • getmore4less
    • By getmore4less 29th Dec 17, 9:14 AM
    • 32,035 Posts
    • 19,222 Thanks
    getmore4less
    How's it been so long since my last update? I was never good at committing to diaries, some things never change!
    With a relatively long term goal like this one sometimes a visual aid helps.

    Fairly easy to do with a spreadsheet is say a graph with the amount owing line over say the first 2 years for different full terms/payments and plot your progress monthly to see where you are on the curve.
    one data point might be the amount owing end of year 1
    499k @ 2.19%
    35y 1700pm 489,407
    30y 1900pm 487,103
    25y 2160pm 483,838
    20y 2570pm 478,893

    As the term gets shorter is costs more per month to knock another year off

    you could also do an imaginary "what if" for say a rate of 4% and see where the target is with rate rises.


    The other thing to remember is once at 40% tax pension options can be better financially long term.
    • lessavyfav
    • By lessavyfav 30th Dec 17, 11:04 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    thanks getmore4less, i think that's a good idea !!!8212; we worked this kind of thing out when we first got the mortgage but haven't looked at it since. I've also got a banking app that lets you save for goals by ringfencing your money for whatever you fancy..i just started one for holiday, emergency, clothes and upcoming gifts. Once you pay into it, you see how little you have to last the rest of the month

    Just paid another 125 of my CC off, so that's just 10.1% left till it's out the door and no more money will be heading in that direction! I've had the CC a little over a year and not once used it, so I'll probably close the account once that's done.

    Did a bit of a freak out like i thought I might with getting a few extra bits for NYE..I can't help myself, it's a fear to run out of food! The fridge is jammed with food an alcohol that should last beyond the night. Am aiming to be v low key in January, need to drink less, spend less and run more.
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • lessavyfav
    • By lessavyfav 3rd Jan 18, 8:34 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    Happy New Year! Hope you all had a good one.

    I enjoyed celebrating mine with friends and the OH at home with a low key but lovely dinner. I think I still managed to overspend as we have loads of leftover booze and food but hey, that'll last us a while at least! Mind you, I am trying to avoid alcohol at the moment.

    Have started off the New Year okay (she says, 3 days in). Managed to send over another 100 to the mortgage and ring fence some of my money for things like EF, holiday, clothes and gifts. As I hadn't been working for a month, my most recent pay felt long overdue and needs to stretch a bit !!!8212; although I get paid weekly I'm going to try not touch it till the month's end. This leaves me with very little so I have to watch my 'extracurricular' activities.

    So far doing this by...
    - Yesterday I bought lunch but skipped on the usual coffee, and today I brought in lunch from home (was delicious!), again skipped the bought coffee. Tomorrow is leftovers, and I will also skip the coffee.
    - I have a bunch of change that I found with 15 worth of pound coins so I will spend lunch time depositing that and might treat myself to a nice snack with some of the leftover change that was in the piggybank (yet to tally how much is in there).
    - Hopefully work will have the fruit bowl stacked up again!
    - I am testing to see whether it's cheaper for me to pay-as-i-go (and force me to only take one train and walk the rest of the way so I can get my 10,000 steps in), zone 1-3 monthly has gone up to 153 which seems ludicrous being so close to work.
    - I need to get back onto selling things on ebay, loads of stuff i don't wear that could fetch a bit of money.
    - Finally applied for a Boots Advantage card, which is coming through the mail. I didn't think I shopped there very often but every little bit counts!
    - Eat less meat. This is something I'm always working on, and do okay with it but at times in winter get a bit carried away. I have some great vegan and vegetarian recipes in my repertoire now though, must continue to do it more often!

    Alright, that's me for the evening. Hopefully will be back in a few days time to report my spending habits and try to keep myself on track....
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • lessavyfav
    • By lessavyfav 7th Jan 18, 8:01 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    Ahoy-hoy! Sunday evening already..got dinner bubbling away (a nice chicken and squash thai curry - yum!) !!!8212; it should last for 3 meals!

    I've been pretty good over the past few days, spent under a fiver on Friday's lunch (which was average tasting, tbh), and instead of going out to the pub or getting takeaway Friday evening, I bought us yellow stickered M&S pizza, salad and dessert - grand total of 6.34, plus we already had wine and beers in the fridge. Win.

    Yesterday was also a cheap day, just went out with the OH for a long walk and stopped by the pub for one, but made all meals and coffee at home and watch a film on Amazon Prime. Today we treated ourselves to a lunch out but nothing to expensive and - importantly - no alcohol! Had to get a few bits of stationery for the business (so that goes on company card), plus a birthday present for a friend's baby, but OH and I were pretty chuffed with ourselves to not have been tempted by all the nice things in the shop.

    However, in not so great news, I just had a peek at our joint account and tallied up the grocery/alcohol spends for December and it's embarrassing (close to 400)! This doesn't even include the money spent for NYE since that ended up coming out of the account Jan 1 which takes us to almost 350 for January. Errgh, it really makes me sick and I know I need to scale back, so the plan is to bring lunch in a lot more than I had planned on doing - at least 4 days this week. I am about to make some falafels and pop them in the freezer, plus some homemade hummus, and this week I have friends coming around for dinner but am making something vegan so it'll be cheap (already paid for with the latest food shop) and delicious. Have just made a meal plan too, all that's needed is some yoghurt for breakfast and milk for homemade broc and stilton soup.

    Although sale time is probably a good time to stock up on clothes, I think I'm going to just get my jeans mended (hole in crotch, this always happens to my jeans! anyone else?). I saw them for 67 on sale somewhere but resisted !!!8212; how virtuous of me.

    We were also planning to go visit the family abroad for about a month (other side of the world) in March but I think we're going to give this a miss. I really want to go back to enjoy the sun, see family and friends but I feel like mortgage and renovations, plus new business need to take priority..that sounds like quite a jerk thing to say as family and friends are so important but it's only a short term thing. Hopefully by the end of the year we're further ahead and can justify it!

    Right, time to check on dinner. It smells de-lish.
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • lessavyfav
    • By lessavyfav 9th Jan 18, 8:14 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    Signature updated, things are going a-okay!

    I sent off 200 to OP the mortgage this afternoon, although my aim was 400 per month so need to make sure I make this up. I think by the end of this month I'll add a bit extra to get us back up to speed.

    I'm very excited to have nearly paid off my CC too, with just two payments to go till it's 0!

    I've been pretty good with the food !!!8212; for today's lunch I made falafel, hummus and even the flatbreads from scratch! so much better than supermarket bought, and healthier as I actually know what goes in them. Got some more veg in the oven roasting to bring to work tomorrow although I think the OH might be getting tired of it. I did treat myself to a chocolate bar today, but hey, 50p won't kill me and I'll try to make sure my bought lunch this week is cheap.

    I'm hoping the rest of the month will be pretty low key with no big expenses coming up, although it's still only 1/3 of the way through the month so you never know. Must. Try. Harder.
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • lessavyfav
    • By lessavyfav 22nd Jan 18, 8:01 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    Checking in again!

    Moneywise we've been a bit up and down. Managed to get 20 off a Farmdrop order, so although it was pretty expensive to start with, we've got some lovely produce at reasonable prices. I've been pretty good with bringing in leftovers, but more like 3 days a week and the occasional morning croissant..I need to do better.

    I need to do my accounts up and pay myself this weekend (my favourite, PAY DAY!), so will make sure to inject the OP a little more this month. I need to keep reigning it in. I'm not going to beat myself too badly though, am certainly doing better than I was November and December, but never quite feel like we have as much money in the bank account as I'd like.

    One thing I have been making a conscious effort over is not buying things I don't need like hair and beauty products. I have loads, and it's quite satisfying trying to get every tiny bit of cream, oil and shampoo out. I've also gone very eco so all my cleaning products are natural and plan to keep it that way. Trying to do our bit..
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • lessavyfav
    • By lessavyfav 23rd Jan 18, 9:24 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    I've had the night to myself while OH is on a course, and have put it to good use. I finally looked into my pension plans to see if I can consolidate them...turns out in the (not even) 7 years I've been in the UK, I've had 4 plans (who knew?)!!!8212; all with hardly anything in them really, but I guess it all adds up and should come to around 5k-ish. Now that's nothing so I need to REALLY ramp this up and will start doing so as of payday this weekend! Bring on payday btw, feels like ages ago.

    I've also signed up to a crowdfunding investment platform as I'd like to play around a little more in that area, and the great thing is you can invest in things you believe in, even if just small amounts. I can't imagine committing a lot of money into it, but hey, if something goes well it could be a nice profit...in years to come!

    Didn't spend any money on coffees, lunch or snacks today, (or anything for that matter). There's another small win
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • FloppyDisk
    • By FloppyDisk 24th Jan 18, 10:55 AM
    • 629 Posts
    • 4,223 Thanks
    FloppyDisk
    Hi Savy, I will be hopefully be joining you with a 400k+ mortgage soon so you're not on your own! Not sure how old you are but it is never a bad time to be thinking about pensions, does your employer pay in if you do?
    Good luck cutting down the lunches and snacks, that has always been mine issue but I am getting better slowly!

    Mortgage- 417,249
    BTL- 162,915

    • lessavyfav
    • By lessavyfav 25th Jan 18, 7:18 PM
    • 198 Posts
    • 280 Thanks
    lessavyfav
    Hey FloppyDisk, thanks for your comment! And congrats on new home ownership - as much as it's gutting to see your savings suddenly depleted (the worst are all the fees and stamp duty), there is something very satisfying when you get those keys and walk into your new home. When are you moving in?

    I'm approaching my mid-30s so my current pension balance is abysmal and according to many websites I should be saving at least 800 a month to catch up. Just not possible right now. Also I'm self-employed so no company matching unfortunately! My OH is also self employed and has never worked anywhere that paid him a pension so we're both needing to get our butts into gear. The goal this year is to consistently add to my pension each month starting from next pay, even if it's just a couple of hundred at first.

    It's nearing the end of the month and I'm pretty happy with how I've gone with snacks and lunches, I also haven't been going out loads either. Tomorrow's a treat day with work peeps - hopefully the guys don't go overboard as no doubt we'll do a bill split (I work with a lot of big guys who eat a lot and are happy to drink a pint or two at lunch..)

    Turns out my experiment to pay as I go travel on Contactless hasn't saved me money and it'd be cheaper to get a monthly Oyster. It's not a massive difference and has encouraged me to walk more (to avoid having to pay for the more expensive train nearer my place), but will go back to buying a monthly from Monday.

    February is already looking quite busy, and possibly expensive plane tickets to buy so it won't be a great month moneywise, but I've just done a breakdown of what I'm paying myself and every penny has a place to go (other than my very fuzzy 'entertainment' budget). Although I forgot to add CC payment of 125 (the penultimate payment!!!), so I'll try to scramble for this money elsewhere!

    I've also signed up for a bit of a side hustle which costs me no money, but will require me to put some time and effort into it, but my aim is to get started on that in Feb. It won't make me rich but may give me some passive income after a while which is where I really would love to get to in life!!
    Giant London-sized mortgage (started July 2017) 489791.94/499,00.00 Current LTV 86%
    Overpayments 2210
    S&S ISA 1300.97
    Regular Saver (started August 2017) 2800
    Personal EF 255 / 1000
    • Tropically
    • By Tropically 26th Jan 18, 9:42 AM
    • 253 Posts
    • 742 Thanks
    Tropically
    I really like some of the crowdfunding opportunities, but I think I over estimated my own risk tolerance. I recently lost 500 in a crowdfunding investment where the company's debts were bought by another company and the share price went to 0. On the other hand, I have had debentures from Abundance and have had them pay out every time. I would say to not put anything into crowdfunding that you are not prepared to lose.

    Good luck with the side hustle! How is the contracting going since you quit?
    Mortgage started at 318,000 in June 2016. Original MF - 2041
    2017 OPs: 7000/7000
    Mortgage in Nov 2017 - 297,808
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