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  • FIRST POST
    • JAMIEDODGER
    • By JAMIEDODGER 28th Jan 18, 2:02 PM
    • 4,271Posts
    • 18,685Thanks
    JAMIEDODGER
    A little home to call my own
    • #1
    • 28th Jan 18, 2:02 PM
    A little home to call my own 28th Jan 18 at 2:02 PM
    Hi all, I hope no-one minds me starting a new thread on MFW

    A bit about me: I am a full-time working mum just approaching her 45th birthday (how did that happen?) I currently live in a housing association house with my four kids ages 13-21. One is moving out this year and another is planning to move out in 2020 (I am sure the rest will be following suit a few years later).

    I have no debt at all I am currently saving a fair whack per month, a big percentage of which goes straight in my pension. I have just started saving towards a house. I will never be able to afford to buy a house where I currently live (south coast - a tiny one bed flat here is 130k minimum) and so I am looking to move to a low cost of living area somewhere in the UK

    I am quite fortunate that I work in care and there are jobs everywhere so I am not forced to look in one particular area, so will be setting my sights on somewhere up north or perhaps Wales, not really sure as yet. I will be looking for a small 2 bed terraced house, not fussed about a garden as such, quite happy with a yard.

    Travel features pretty heavily in my future plans, so the potential to rent it out maybe while I do some slow travel could be on the cards too.

    My goal is pretty huge, for me anyway. I am going to aim to save 50000 within the next 6 years (45k, plus 5k fees/costs etc). This is to buy a house outright in cash, so effectively by-passing the mortgage completely (so instead of saving to get a mortgage, I will be saving to be mortgage free) I am not adverse to buying a fixer-upper as I have plenty of skills in that area, there is also the potential to buy at auction. This is my starting target, which I will adjust as necessary as time goes on (house price increases etc)

    The aim is to put away 625 (minimum) each month for the next 6 years by savvy spending and doing all the usual stuff (cashback, ebay, coupons, stoozing, grocery challenge and many more...) while still paying a decent amount into my pension.

    Once I have bought a place, then I will be chucking everything into my pension so I can retire as early as possible.

    The kids are all behind me on this, and those that are working have their own healthy pots of savings and dreams of their own Those that are not yet working still have savings too, and none of my kids has any debt, or any intention to get any (proud mum moment).

    So anyhoo, feel free to comment and follow my journey to a little home of my own as a mortgage free wanabee (just not in the conventional sense)

    JD x
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
Page 7
    • Kittenkirst
    • By Kittenkirst 4th Mar 18, 6:57 AM
    • 1,892 Posts
    • 10,153 Thanks
    Kittenkirst
    Hope your shift passes quickly so you can start unwinding a little for your four days off (amongst your list of jobs that is )

    Your travel plans sound awesome- I am such a lover of travel planning and creating the itineraries. We are heading off to Oz in September so I!!!8217;m spending lots of time researching in guide books and on the internet and stashing the pennies away

    Best of luck with your savings- you seem to be doing marvelously so far!
    2018 MFW #20 - OP 1799.61/ 3000 60%
    Mar: 218 Apr: 528.91 May: 361.07

    Mortgage Oct '16 170.995 LTV 90% end: Nov 2041
    Overpayments 2016 255.50 2017 2600.40
    • JAMIEDODGER
    • By JAMIEDODGER 4th Mar 18, 7:38 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    Hey Kitten Oz sounds amazing! How long are you going for? I love planning trips away and checking out all the things I can do where I am travelling to. It makes the waiting less painful
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • beanielou
    • By beanielou 4th Mar 18, 7:24 PM
    • 54,122 Posts
    • 214,708 Thanks
    beanielou
    Good news on the transfer
    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.
    • JAMIEDODGER
    • By JAMIEDODGER 6th Mar 18, 5:15 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    84p TT and another 100 transferred to House Fund this morning

    It is that time of the month where everything starts coming in and going out of the bank accounts after a boring few weeks of no movements.

    Waiting for my first interest payments to come through from my FC ISA today after I opened it last month

    Popped into town yesterday to do a few errands, so thats a few jobs knocked off my list.

    DS3 Annual Review at school today, plus a meeting with the head beforehand. Lots to talk about. Should be interesting.

    But this morning, housework beckons...

    JD x
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • Unicorn cottage
    • By Unicorn cottage 6th Mar 18, 8:28 AM
    • 78 Posts
    • 144 Thanks
    Unicorn cottage
    Hiya JD

    We started chatting in your thread a while back but then I got distracted - probs looking at ways to make some extra pennies! Well done on the house deposit fund so far.

    I am on the paying off the mortgage mission - well at least a chunk of it. I need to get the outstanding balance down as much as possible so I can afford it comfortably when I come to remortgage as my salary has dropped quite a bit.

    I am in the South West at the mo but my partner is from Newcastle and the pull is strong so am sure we will make a move up north in the next 5? years. Would you consider the North East? My partner loves the Northumberland coast but it was making me shiver seeing the snow drifts there over the last few days!!!

    As I have lived all over, (Cambridge, Sheffield, Glasgow, Bristol, London - the list goes on!), I'm dead interested to see where you end up putting down roots.

    And just another thought that popped in my head the toll on the bridge between South Wales and Bristol is coming to an end at the end of this year so a good place to buy if had the cash!
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • beanielou
    • By beanielou 6th Mar 18, 10:12 AM
    • 54,122 Posts
    • 214,708 Thanks
    beanielou
    Hope the review goes well.
    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.
    • JAMIEDODGER
    • By JAMIEDODGER 8th Mar 18, 5:52 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    Hey Unicorn Good luck with the mission! I have no fixed plans as yet, I guess wherever is reasonably priced. I have lived in the same area on the south coast all my life, so I haven't tried out any other areas. I am pretty flexible about it, but it is still six years away, so a lot could change!

    Beanie - review went really well, thanks. Lots of positives

    A small amount TT to the travel fund and a few pounds interest on the house fund this morning. The totals are moving up, slowly, but they are moving upwards

    DD birthday today. 14. Where does the time go? Takeaway for dinner tonight
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • beanielou
    • By beanielou 8th Mar 18, 11:29 AM
    • 54,122 Posts
    • 214,708 Thanks
    beanielou
    Glad review went well.
    Happy birthday to DD
    As you say where does the time go!!
    My DS is 25 this year.
    A quartee of a century
    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.
    • JAMIEDODGER
    • By JAMIEDODGER 11th Mar 18, 6:01 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    Morning all and Happy Mothers day to all mums out there!

    Just about to start my third 12 hr shift in a row so haven't got long on here this morning. Working tomorrow too but a shorter day. Will update all financial doodads on Tuesday/Wednesday when I am off So tired right now, but looking forward to my two days off
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • newgirly
    • By newgirly 11th Mar 18, 10:37 PM
    • 6,283 Posts
    • 43,380 Thanks
    newgirly
    You too , enjoy your days off
    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
    • JAMIEDODGER
    • By JAMIEDODGER 12th Mar 18, 4:52 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    Up super early this morning as my body decided I'd had enough sleep! I did go to to bed at 8.30pm though

    Just a half day today then off for two days

    As I am up so early I decided to sort the banking and have adjusted my signature. House deposit fund now stands at 2308.26 Almost at 5% now Travel fund total is 53.42 which is 2.14%. Those TT's sure add up!

    I have a couple more payments to the House deposit fund planned for this month which should push me over to 5% saved. March should be a good month. April however, will be expensive as it is MOT and servicing plus I need new tyres on the van Swings and roundabouts so they say.

    JD x
    Last edited by JAMIEDODGER; 12-03-2018 at 4:56 AM.
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • beanielou
    • By beanielou 12th Mar 18, 7:20 PM
    • 54,122 Posts
    • 214,708 Thanks
    beanielou
    Enjoy your time off
    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.
    • JAMIEDODGER
    • By JAMIEDODGER 13th Mar 18, 5:29 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    A small TT of 14p and ISA interest of 1.39 to add to totals this morning

    Finally a day off

    Lots planned this morning, I need to pop into town to do a few errands and also order a Tesco delivery for later on this week. I need to do some housework too and catch up on the washing and paperwork.

    Only just over two weeks until my Easter break
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • JAMIEDODGER
    • By JAMIEDODGER 13th Mar 18, 8:45 PM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    Ok so a successful day

    Managed to get a Tesco delivery booked in for Friday after work.

    Popped into town and picked up all on my list, plus a visit to the office and managed to get another 24hrs worth of work booked in for this weekend.

    I am thinking of retraining so have been researching that this afternoon before our new social worker turned up. Very positive meeting and talk of future plans when DS3 moves over to adult services in a years time. Still, plenty of time to think about what is going to happen post 19 but I am confident we will find the right placement for him

    Washing up to date and made a start on the paperwork.

    Tomorrow will be a Lidl meat shop first thing then more paperwork and some housework and a few phone calls to make. Seeing Bf in the afternoon

    Payday on Friday so will be moving some more money into the House Fund account Yay
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • JAMIEDODGER
    • By JAMIEDODGER 14th Mar 18, 5:42 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    A small TT this morning and I had some money left in account before payday so managed to send 100 to ISA. Adjusted signatures to show new amounts So close to that 5% now

    Even though it is such a long time away before I am in a position to buy somewhere I still like to browse online to see what is available in the area I'm looking at. It seems there are loads of properties that are in my price range, but who knows what the market will look like in six years time. I just hope house prices don't increase faster than I can save

    Off to do some more browsing to feed my house addiction....
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • beanielou
    • By beanielou 14th Mar 18, 2:58 PM
    • 54,122 Posts
    • 214,708 Thanks
    beanielou
    Always good to look
    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.
    • JAMIEDODGER
    • By JAMIEDODGER 16th Mar 18, 5:38 AM
    • 4,271 Posts
    • 18,685 Thanks
    JAMIEDODGER
    It's payday

    Transferred a small TT to the Travel Fund and then moved across final amount to my ISA, plus interest received brings total in house fund to 2660.89 I have reached my 5% goal for March I only have to do this another 19 times and I will have enough money for a house

    I am hoping to reach 10% by the end of July, so fingers crossed

    I do have to be very careful with the remaining money for the month so that we have enough to last, but careful planning and no waste or buying of unnecessary stuff should make this possible However I do have DS1 birthday money and meal to pay for so it will be tight!

    It feels kind of strange sometimes, when you look at the current account and feel a bit poor knowing you only have x amount to last you for the remainder of the month, but you look at your savings and think wow, I am not actually poor at all

    Off for another cuppa before I get ready for work. Have a lovely day everyone x
    #82 12k in 2018 - 3473.45/12000 - 28.95%
    Retirement Fund 10850.02/250000 - 4.34%
    House Fund 2679.13/50000 - 5.36%
    Travel Fund 199.49/2500 - 7.98%
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 16th Mar 18, 6:22 AM
    • 1,335 Posts
    • 6,211 Thanks
    wishingthemortgaheaway
    The 'feeling poor. But being rich is me all the time.
    It's called 'ynab broke' here. Ynab says I can't spend much, but the actual bank account says wooohooo have a party.
    However, I am so much happier when I'm being a proper mse than when I'm just using ynab to record my transactions and wamming every 5 minutes to cover spending.
    Since coming back to mse
    Last July, I've cut my monthly food budget by over 50 and saved over 3k, mostly since I went back to work 1 day a week in November.
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1600ish/2,500
    • beanielou
    • By beanielou 16th Mar 18, 8:43 AM
    • 54,122 Posts
    • 214,708 Thanks
    beanielou
    Great news on the 5%
    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.
    • daisy 1571
    • By daisy 1571 16th Mar 18, 8:43 AM
    • 273 Posts
    • 3,378 Thanks
    daisy 1571
    Can totally identify with that, we have always been 'broke' as we simply never counted our long term savings. Sometimes it came as a real surprise to remember we actually *do* have money - a really nice surprise tho rather than the sinking feeling of totting up debt so enjoy both feelings

    Daisy xx
    "Never save something for a special occasion. Every day in your life is a special occasion" Take hold of every moment by anon

    The difference between what you were yesterday and what you will be tomorrow is what you do today
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