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  • FIRST POST
    • Unicorn cottage
    • By Unicorn cottage 27th Feb 18, 7:12 PM
    • 82Posts
    • 145Thanks
    Unicorn cottage
    Time, energy, money
    • #1
    • 27th Feb 18, 7:12 PM
    Time, energy, money 27th Feb 18 at 7:12 PM
    Hi all!

    Sooooo I made the first overpayment today of £550 - we are on the way!

    I am doing, (and have been doing for at least 2 years), a lot of money juggling to pay off our (me and my partner's - my partner is happy for me to take charge!) debts and get us into a stronger financial position. It's been a slog and I have used every money saving tip, trick and hustle I could muster including channeling Mr Lewis' advice . There is still a way to go but we are getting there...slowly but surely. Still lots of things I need to look into and master such as pensions (I just don't get them) and maybe investing (no clue there either) but hey-ho it's an adventure!

    Hope you are all good!

    Unicorn
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
Page 1
    • louloubelle79
    • By louloubelle79 27th Feb 18, 7:41 PM
    • 336 Posts
    • 177 Thanks
    louloubelle79
    • #2
    • 27th Feb 18, 7:41 PM
    • #2
    • 27th Feb 18, 7:41 PM
    Welcome all the best on your journey. We started our MFW journey a year ago, we are just sorting hubbys pension and only just started investing... have learnt so much on this and savings and pensions forum!
    • BookmobileBadGirl
    • By BookmobileBadGirl 27th Feb 18, 8:03 PM
    • 26 Posts
    • 42 Thanks
    BookmobileBadGirl
    • #3
    • 27th Feb 18, 8:03 PM
    • #3
    • 27th Feb 18, 8:03 PM
    Congratulations on your first overpayment,

    If you master pensions, do let me know
    • beanielou
    • By beanielou 27th Feb 18, 9:05 PM
    • 55,039 Posts
    • 219,830 Thanks
    beanielou
    • #4
    • 27th Feb 18, 9:05 PM
    • #4
    • 27th Feb 18, 9:05 PM
    Great start
    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.
    • Unicorn cottage
    • By Unicorn cottage 5th Mar 18, 9:04 PM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    • #5
    • 5th Mar 18, 9:04 PM
    • #5
    • 5th Mar 18, 9:04 PM
    Thanks for the encouragement louloubelle79, BookmobileBadGirl, and beanielou! I'll be checking out your journeys too.

    I paid off another £1000 at the end of February. I was holding the money back for another use but it was no longer required so I tossed it into the mortgage cauldron! Being a bit nervous I rang my mortgage provider (Bank of Ireland - BOI) to check the outstanding balance and the figures didn't make sense so I have queried this with them. I was expecting the figure to be £138,300 but it was £138,600??? BOI seem to lower the amount owing and your monthly mortgage payment so maybe it has something to do with that but being hopeless at maths I have no idea how this came about.

    Anyway I have decided to aim high and not be deterred by the above. My mortgage is due for renewal in June 2020 and I want to get it down to £100k. This is extremely ambitious but I have always been better at paying off debts than saving so it gives me a focus!

    I am as always pursuing extra bits of cash and did a face-to-face market research session last week which got me £50 for an hours work! Yesss! Wish I could get me some more of that!
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • Unicorn cottage
    • By Unicorn cottage 8th Mar 18, 8:36 PM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    • #6
    • 8th Mar 18, 8:36 PM
    • #6
    • 8th Mar 18, 8:36 PM
    The outstanding balance issue got sorted - it was simply because they had added the interest at the start of the month so everything will be on track when I make my next "standard" payment. Phew!

    Anyway a bit of good news - I got another job (in addition to the 2 I have already) but this 1 is really cool and is a gardening job working with a charity close to my heart so I am looking forward to starting that in the near future.

    Keep plugging away everyone!
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • beanielou
    • By beanielou 8th Mar 18, 10:15 PM
    • 55,039 Posts
    • 219,830 Thanks
    beanielou
    • #7
    • 8th Mar 18, 10:15 PM
    • #7
    • 8th Mar 18, 10:15 PM
    Good news on the new job
    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.
    • shangaijimmy
    • By shangaijimmy 9th Mar 18, 7:40 AM
    • 2,736 Posts
    • 13,597 Thanks
    shangaijimmy
    • #8
    • 9th Mar 18, 7:40 AM
    • #8
    • 9th Mar 18, 7:40 AM
    Good progress and love the ambitious target. As anxious as it feels throwing £100 OP into the mix, it's a great feeling when you can see the balance reduce. I look forward to my mortgage statement in the hope that its pages and pages long!!
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • Kittenkirst
    • By Kittenkirst 9th Mar 18, 7:43 AM
    • 1,897 Posts
    • 10,193 Thanks
    Kittenkirst
    • #9
    • 9th Mar 18, 7:43 AM
    • #9
    • 9th Mar 18, 7:43 AM
    Great news on the new job and also cracking overpayments- £1500 is half my target for the year to overpay

    looking forward to cheering you on along the way!
    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
    • gallygirl
    • By gallygirl 9th Mar 18, 7:43 AM
    • 16,606 Posts
    • 109,663 Thanks
    gallygirl
    I look forward to my mortgage statement in the hope that its pages and pages long!!
    Originally posted by shangaijimmy
    If it doesn't make a thud as it lands on the mat you're doing something wrong . Here's hoping the little un's not standing beneath it .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • michelle09
    • By michelle09 9th Mar 18, 7:51 AM
    • 786 Posts
    • 4,367 Thanks
    michelle09
    Well done on the job, hopefully they aren't too many hours?
    • Tropically
    • By Tropically 9th Mar 18, 9:09 AM
    • 271 Posts
    • 815 Thanks
    Tropically
    Well done on the new job! Gardening sounds lovely.
    Mortgage started at £318,000 in June 2016. Original MF - 2041
    2017 OPs: £7000/£7000
    Mortgage in Nov 2017 - £297,808
    • Unicorn cottage
    • By Unicorn cottage 9th Mar 18, 9:23 AM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    shangaijimmy - it is anxiety inducing at first but as you say now I can see the numbers on paper and they are going down I believe it is real! I think it is the power of this website and forum. None of my family or friends talk about this type of stuff so I doubt I would of even known what an overpayment was! I honestly could squish Martin Lewis so hard he would pop!

    Kittenkirst - Thank you! My target is extremely ambitious and I probably won't achieve it BUT heck I gotta try!

    michelle09 - this 1 is only a few hours a week so all good. I am just taking every opportunity thrown at me and trying to maximise the benefits.

    Gallygirl - get off my diary with your blooming £0 mortgage balance
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • gallygirl
    • By gallygirl 9th Mar 18, 9:38 AM
    • 16,606 Posts
    • 109,663 Thanks
    gallygirl
    Gallygirl - get off my diary with your blooming £0 mortgage balance
    Originally posted by Unicorn cottage
    Not that long ago it was higher than yours - just trying to inspire you .
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    Mortgage Balance = £0
    "Do what others won't early in life so you can do what others can't later in life"
    • Unicorn cottage
    • By Unicorn cottage 9th Mar 18, 5:04 PM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    Not that long ago it was higher than yours - just trying to inspire you .
    Originally posted by gallygirl
    You deffo do!
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • greent
    • By greent 9th Mar 18, 5:55 PM
    • 7,081 Posts
    • 72,152 Thanks
    greent
    Well done on the OPs Juggling 3 jobs sounds like it could be hard work!

    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • Unicorn cottage
    • By Unicorn cottage 8th Apr 18, 9:59 PM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    Hey all

    A quick check-in. Paid another £550 off the mortgage in March so £2100 in total. Got another £40 for doing a 30 minute phone interview! The debts are going down too - I have lined up a few extra jobs for my partner which will pay off a big chunk of debt and part of our holiday - yess!

    Hustlin' is the way forward!

    Unicorn
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • Unicorn cottage
    • By Unicorn cottage 9th May 18, 8:45 AM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    Hi all

    How in a month everything can change...

    Firstly I was successful at interview for my dream job! The pay is much better so takes away a lot of the stress of wondering whether I would be able secure a mortgage when my current 1 is up for renewal.

    Because of the above news I had my sensible head on and although I didn't make an overpayment for this month I diverted the extra money me & my partner got for 2 extra well paying jobs (£1700!) we did into my partner's overdraft which now stands at a positive balance!

    I also paid off the other credit card balance I had outstanding so that is another one gone! All debts now stand at 0% except for my partner's loan.

    Also in another twist of good luck and hardwork someone was giving away a free kitchen on Facebook including all appliances. All we had to do was dismantle and remove - the joys of having a van! So as we needed a new cooker and the 1 on the photos looked much better we went for it. Turns out the cooker is a quality one from John Lewis which cost £900 brand new and would cost about £500 now! A family member bagged the almost brand new freezer and the rest of the stuff we sold for £150 which paid for our new cooker to be wired in and tested

    Debts state of play

    Bank of Mum & Dad (0% APR - bless them)
    £2,000

    Loan (Start date: October 2016, length: 5 years, 3.9% APR)
    £7,467.18

    Credit card (Start date: January 2017, 0% APR until 2019)
    £950

    Debts are likely to go up again shortly as I will have to buy a car for my new job but am researching the possibilities of paying for it on a 0% credit card.

    Phew getting there
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • Unicorn cottage
    • By Unicorn cottage 14th May 18, 8:34 AM
    • 82 Posts
    • 145 Thanks
    Unicorn cottage
    Soooo got the girl, got the house, got the job - just need the body and a more positive bank balance! Diet starts today. Partner is on board. Start my new job in mid June so my aim is to be 7lbs lighter.

    Feeling positive!
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness"
    • beanielou
    • By beanielou 15th May 18, 7:31 PM
    • 55,039 Posts
    • 219,830 Thanks
    beanielou
    Good news on the new job
    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.
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