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  • FIRST POST
    • AlexLK
    • By AlexLK 30th Dec 17, 5:01 PM
    • 6,085Posts
    • 32,227Thanks
    AlexLK
    Renovations and Repayments II: New Year, New Start, New Diary.
    • #1
    • 30th Dec 17, 5:01 PM
    Renovations and Repayments II: New Year, New Start, New Diary. 30th Dec 17 at 5:01 PM
    2018 is almost upon us and is set to be the year I get my finances in order.

    So, what's changed since the start, middle, end of my last diary?
    - Regular income is up
    - Gained some knowledge of how to use a spreadsheet to budget
    - In a much better position to make steps towards positive change
    - My wife and I are working as a team
    - Unless anything drastically changes our son is staying at the local school

    What do I want to achieve?
    - Regular and realistic amounts to savings each month
    - Make the mortgage payment up to £1,000 each month
    - Get a better rate on our mortgage
    - Get rid of a lot of things we don't need ... OK that's business as usual
    - Finish the house and consider our options (staying in current house or using the equity to move somewhere new - not to my childhood home and if I mention this, please feel free to point me to this starting post)
    - Monthly targets for both financial and personal goals
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
Page 4
    • Karmacat
    • By Karmacat 12th Jan 18, 8:37 AM
    • 29,312 Posts
    • 167,867 Thanks
    Karmacat
    That's exactly how I use my credit card, Alex - and it gives me a few nectar points as well
    Retired August 2016
    • hiddenshadow
    • By hiddenshadow 12th Jan 18, 10:54 AM
    • 2,482 Posts
    • 11,362 Thanks
    hiddenshadow
    We also use our CC for everyday spending just to accrue points/cashback.

    (Might be worth phoning the CC company, just to verify that the DD amount will be £0 as you've already paid the balance...unless you don't mind double-paying if the DD still takes the full balance, and then spending down the credit.)
    MFW: £197,100 (2013) to £99,838 (June '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • newgirly
    • By newgirly 12th Jan 18, 11:39 AM
    • 6,326 Posts
    • 43,774 Thanks
    newgirly
    We also do all our spending like that too Alex
    MFW 21
    Target for 2018 £40k/£13,632 paid so far

    Mortgage £36,319 4yrs left. Total owed £48,358 plan to clear in 14 months
    • AlexLK
    • By AlexLK 13th Jan 18, 7:37 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    Thanks all.

    Not the end of the world if they take the DD, will mean it'll be a few months until we have to pay again. Feeling like we're living for free for a few months wouldn't be a bad thing.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • AlexLK
    • By AlexLK 13th Jan 18, 9:57 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    Unfortunately think I'm coming down with a cold: freezing cold and have a headache. Son isn't too well either. Have updated the financial spreadsheet, though and it's not looking bad.

    January Life Aims:
    11pm bedtime Sometimes managing this, sometimes a bit later but have been getting a reasonable amount of sleep every evening. Noticed if I sleep around 8 hours,
    the next day I need about 5 hours. Not sure if this is healthy, to be honest. Read something about not sleeping well leading to dementia in old age.

    5 meat free days Managed to be on track for this and had plenty of half meat free days. Mrs. K. and I have agreed if we will only eat meat for one meal per day.
    3 new recipes Going to give the vegan meal a go next week.
    Keep alcohol to special occasions only Not had a drop this week.
    10,000 steps per day 14,000 today.

    January Financial Aims:
    £925 to savings from surplus income.
    Total payment of £1,000 to mortgage.
    Get a better rate on mortgage. Appointment completed.

    January Work Aims:
    Everyday presents an opportunity to learn something new - take notes.

    Keep my computer organised. Second week of having an organised computer.

    Keep the ball rolling (project). Not had much to do this week.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • kelpie35
    • By kelpie35 13th Jan 18, 10:07 PM
    • 1,551 Posts
    • 5,019 Thanks
    kelpie35
    I hope you feel better very soon.

    Keep up this positive attitude.
    • AlexLK
    • By AlexLK 15th Jan 18, 8:55 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    Thanks, kelpie.

    Nothing to really update today. Been keeping myself busy. My son isn't too well but not ill enough to not attend school. I've been OK until tonight and now have a terrible headache for no apparent reason. Still not 100% so don't think it's anything of concern.

    Onto good news, it seems we can get a rate of just under 1.4% for our mortgage.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • beanielou
    • By beanielou 15th Jan 18, 9:01 PM
    • 55,020 Posts
    • 219,759 Thanks
    beanielou
    Great mortgage rate.
    Hope you both feel better soon.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • Karmacat
    • By Karmacat 15th Jan 18, 9:09 PM
    • 29,312 Posts
    • 167,867 Thanks
    Karmacat
    That *is* a good mortgage rate! Sorry you don't feel so hot, Alex, get yourself into bed as soon as you can, fight off whatever it is.
    Retired August 2016
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 17th Jan 18, 8:44 AM
    • 1,469 Posts
    • 7,025 Thanks
    wishingthemortgaheaway
    Alex, who's that mortgage rate with? That's amazing.
    We're looking at 2.44% again this time.
    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
    • AlexLK
    • By AlexLK 17th Jan 18, 6:45 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    Thanks all.

    Rate is with Yorkshire BS. There were lots of options under 2%, go and see a broker wishing.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 17th Jan 18, 9:52 PM
    • 1,469 Posts
    • 7,025 Thanks
    wishingthemortgaheaway
    I think we will this time. Most times we refix I just stay with the Halifax as it's been a good deal and no faff (a couple of clicks and that's it) but I think we may do some proper shopping through a broker as we're now awkward/risky clients (hubby self emploted, I earn very little from 2 jobs, one of those jobs is as a supply teacher, so almost worse than being self employed)
    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
    • AlexLK
    • By AlexLK 18th Jan 18, 9:59 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    So long as you can prove income I donít think it matters too much re employment / self employment etc. What sort of ltv are you looking at? That can make a difference.

    Busy week here and feeling better fortunately. Looking like a busy weekend too. Currently worked out that the first weekend in February will be quiet and the week before will see the overpayment made and our savings looking in a better place. !!!128512;
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 18th Jan 18, 10:16 PM
    • 1,469 Posts
    • 7,025 Thanks
    wishingthemortgaheaway
    So long as you can prove income I donít think it matters too much re employment / self employment etc. What sort of ltv are you looking at? That can make a difference.
    Originally posted by AlexLK
    Ltv is currently sitting at
    40% compared to what we purchased the house at
    34% of what I think we'd get it valued at.
    30% of what next door sold at 18 months ago
    And
    27% of what the house up the road is up for sale at.

    So pretty good I feel.
    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
    • hiddenshadow
    • By hiddenshadow 19th Jan 18, 3:26 PM
    • 2,482 Posts
    • 11,362 Thanks
    hiddenshadow
    I think most banks stop offering lower rates at 60% (though I swear I've seen 40% somewhere). Either way, you should be able to get the better/best rates the bank has to offer, based on any of your LTVs.
    MFW: £197,100 (2013) to £99,838 (June '18)
    2018 MFW #56: £4,806/£105,000 4% / MFiT-T4 #15: £59,661/£90,000 66%
    • AlexLK
    • By AlexLK 21st Jan 18, 8:57 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    I second HS. You shouldn't have any trouble getting a good rate with your LTV.

    Well, we've had a busy week. It snowed here on top of black ice so there was chaos on the roads earlier - lots of people stuck. Didn't have a great day yesterday, I was in a really negative frame of mind after a discussion on Friday evening with my mother about business matters which turned personal after all decisions re. business had been made. Had to listen to the "your father and I have made life easy for you but you chose to make things difficult" lecture and the "you don't know what love is" lecture. Had a better day today.

    Doing well with meat free and AF days. Not done much walking though and a bit ashamed to say yesterday I only did 6,000 steps and spent a lot of the day in bed. Do not want the negative frame of mind to become an everyday normality so have forced myself to do as much as possible today. 14,000 steps in the snow to make up for yesterday.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • beanielou
    • By beanielou 21st Jan 18, 8:59 PM
    • 55,020 Posts
    • 219,759 Thanks
    beanielou
    Families. Nothing like them
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • Red-Squirrel
    • By Red-Squirrel 22nd Jan 18, 6:23 AM
    • 2,784 Posts
    • 7,434 Thanks
    Red-Squirrel
    Had to listen to the "your father and I have made life easy for you but you chose to make things difficult" lecture and the "you don't know what love is" lecture. Had a better day today.
    Originally posted by AlexLK
    You say 'had to', but actually no, you don't have to. You can (and should) tell your mother that if she is going to speak to you in this inappropriate manner you will be leaving, and when she continues to do so you can, and should, actually leave. Try it, it will feel incredibly liberating! Nobody has the right to treat you like this, not even your parents, you are an adult and you don't have to stay put and be scolded!

    Glad to hear you are enjoying your meat free days. If its something you are wanting to continue, you might find this document interesting. Its the most recent sustainability statement from the British Association of Dietetics and its very relevant to what you are trying to do: https://www.bda.uk.com/improvinghealth/healthprofessionals/policy_statement-_sustainable_food
    • AlexLK
    • By AlexLK 22nd Jan 18, 10:13 PM
    • 6,085 Posts
    • 32,227 Thanks
    AlexLK
    Good day had today. Really enjoying my work at the moment and had a nice dog walk with my wife and son this evening. Managed 15,000 steps and to have a meat and alcohol free day again.

    Thanks, RS. I think you're right, I should walk away when this happens again. I cannot access your link but whilst I've no desire to give meat up entirely I will certainly be continuing to cut down the amount of meat we eat and would be interested to read the article.
    2018 totals:
    Savings £7,600
    Mortgage Overpayments £1,750
    • Red-Squirrel
    • By Red-Squirrel 22nd Jan 18, 11:01 PM
    • 2,784 Posts
    • 7,434 Thanks
    Red-Squirrel
    Good day had today. Really enjoying my work at the moment and had a nice dog walk with my wife and son this evening. Managed 15,000 steps and to have a meat and alcohol free day again.

    Thanks, RS. I think you're right, I should walk away when this happens again. I cannot access your link but whilst I've no desire to give meat up entirely I will certainly be continuing to cut down the amount of meat we eat and would be interested to read the article.
    Originally posted by AlexLK
    BDA website appears to be down, try again tomorrow! While I would love to try and persuade you to give up animal products altogether, that's not what the link is about this time.
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