Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ceb1995
    • By ceb1995 25th Mar 18, 1:18 PM
    • 250Posts
    • 553Thanks
    ceb1995
    Mortgage and debt free before we are fifty?
    • #1
    • 25th Mar 18, 1:18 PM
    Mortgage and debt free before we are fifty? 25th Mar 18 at 1:18 PM
    We've bought our first home just under a month ago, a 1980's three bed semi that has thrown us a few things to fix. It's just me (23 tomorrow) and DH (26) and we've a 5 year fixed rate mortgage with a 40 year term so our (slightly ambitious) goal is to pay it off early whilst balancing having some other financial commitments (our current mortgage balance is just 141,170). Short term we want to throw what we can at the mortgage and our few loans once they start over the next three months over the next couple of years before thinking about the possibility of sprogs.

    Current goals:
    Try and earn at least 20 on surveys and put that towards debt payments.
    Try and Have at least 5 no spend days whilst on holiday later in the month.
    Use cashback sites, freebies and coupons as much as possible.
    Last edited by ceb1995; 05-04-2018 at 11:25 AM.
Page 2
    • ceb1995
    • By ceb1995 12th Apr 18, 10:35 AM
    • 250 Posts
    • 553 Thanks
    ceb1995
    So there's no really much to report over the past week, went away to London for the weekend and although I tried to stick to keeping costs low it's looking like we need to reevaluate the entertainment part of our budget. I think living in a house that's having a lot of work done so that our bedroom is the only room that's remotely possible to relax in, makes it difficult not to want to go out and spend a few pounds here and there. We were hoping to be done by DH's birthday in a months time except the guest room but it's seeming very optimistic.
    So the plan for the rest of the week is to try and be motivated with doing surveys and to not go out for any food at all.
    • ceb1995
    • By ceb1995 15th Apr 18, 3:23 PM
    • 250 Posts
    • 553 Thanks
    ceb1995
    Cashed out 2.70 from Qmee, not a lot but it's a start towards my survey goal so that's gone on my cc.
    • ceb1995
    • By ceb1995 16th Apr 18, 7:49 PM
    • 250 Posts
    • 553 Thanks
    ceb1995
    Got 8.18 worth of cashback today so getting towards the 20 goal, it only feels like small additional payments that we're making at the moment but i m sure it'll be worth it in the end.
    • ceb1995
    • By ceb1995 24th Apr 18, 12:38 PM
    • 250 Posts
    • 553 Thanks
    ceb1995
    So not doing well on the NSD's front at the moment, the lack of kitchen this week has meant popping out for microwave meals. Waiting on 36 worth of cashback so doing well on that goal for this month.
    • ceb1995
    • By ceb1995 30th Apr 18, 1:11 PM
    • 250 Posts
    • 553 Thanks
    ceb1995
    So last day of the month and we've a few things to work on next month: Earned 51.88 on cashback and surveys which is great and went towards CC so hoping to get 30 as a realistic monthly goal, the bad is that we haven't really tracked our spending at all so sorting out a spreadsheet for may later and not managed nsds with the lack of kitchen. The kitchen and bathroom should hopefully be finished by the weekend so the more livable house should hopefully make it easier to spend less.
    • ceb1995
    • By ceb1995 2nd May 18, 9:32 PM
    • 250 Posts
    • 553 Thanks
    ceb1995
    Mortgage payment has gone out for this month so balance now stands at 141,092.88. We're now tracking every penny on a spreadsheet. I caved and went out to the pub for lunch today so not ideal for the budget although I don't tend to buy material things when stressed I can spend money unnecessarily on food and sweets which all adds up. Did do a lot of surveys today so that's something.
    • ceb1995
    • By ceb1995 13th May 18, 3:38 PM
    • 250 Posts
    • 553 Thanks
    ceb1995
    So unfortunately, our kitchen fitter quit and our bathroom is yet to be finished but the past two weeks we've mostly not spent too much when stressed and have managed not to buy any takeaways yet.
    Our debt figure minus mortgages is currently sitting at just over 16k which is a bit frightening at times, as before buying the house I'd never owed more than 1.5k so I keep looking at that whenever I feel like spending on anything.

    So this month we've so far been keeping to the budget and with the minimum wage increase I'm earning 40 more a month so that's going straight to overpaying debts as have the 13 survey earnings. Just trying to stay motivated and see little amounts as making a bit of a difference.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

26Posts Today

3,508Users online

Martin's Twitter