The Frugal Future?

 Do you get a mortgage statement and pension statement in the same month? I seem to do so. As I am a year and a bit away from trying to sell my house and downsize, I’ve become a price comparison website nerd! I go and look at investment plans and have come to the conclusion that Suze Orman, Martin Lewis and Dave Ramsay have sussed it all out for me. There is no point in paying into a savings fund as long as you have a mortgage. The interest will cancel out any saved gains. So watch this space. I’m locked into a mortgage deal until 3/9/2012! Or I have to pay Santander almost £8,000 for the pleasure of changing my mortgage deal. In the meantime, post debt repayments, I will pay off as much mortgage capital as I can.

 Now, you may well window shop. I often look at tents on eBay, or even browse around charity shops and often think of what I might like in the future. Wood burning heating? Solar or PV? In fact, I just want to pay for my new house (which will be compact and bijou) and then think of saving, or solar, or a ground water storage system. Until then, just because I’m nosey, I’ll keep looking for the best deals, whether for energy, utilities or mortgages.

Do you keep an eye on your ‘future finances’ even though, maybe like me, you’re not there yet!
Until tomorrow,
Froogs xxxxx

11 thoughts on “The Frugal Future?

  1. I am a Dave Ramsay fanatic, pay off the credit cards every month, no keeping up with the Joneses, mortgage paid off twenty years ago.
    I'm looking at cottage living right now, and downsizing in the future.
    You are the epitome of 'Frugal' I so admire your commitment.
    Thank you for sharing all of your wonderful ideas with us.


  2. Our house is paid for, but the taxes are a killer! Still, cheaper to pay the taxes than move.
    My summer is going to be working on stitching projects I have started and haven't finished, projects that can be made with the fabric I have, movies at home, and books I have meant to read, but haven't. Not spending much money on fun this summer.


  3. when i was employed i paid into the company pension funds, 1 was with a company that went under the other is with one that is now having lots of problems. we are both self employed so now cant afford to put money into a pension. I t looks like our pension will be our inheritance.I continually look for money saving ways so i can pay more of outstanding loans and mortgage. I have 3 things on my snowball, van loan, car loan and mortgage.if i snowball all monies into mortgage after the 2 loans are paid off in 16 months i could be mf in 83 months,if i dont my mortgage will end in 2025 which is scarey.I now coupon to save money on my shopping bills. Sometimes its hard to keep up the momentum as being self employed the money doesnt always come in.This time last year my head was firmly buried in the sand but not now. Good luck FQ you are doing a grand job x


  4. We are well past being able to invest in pension funds…..OH has been drawing his for 13 years and me for 8, however we do have debts which I am trying so hard to pay off, its very difficult at times, things you do not expect come up and bite you on the bum, mind you moving twice in 12 months did not help.

    The cost of electricity scares me, we have electric central heating here, storage heaters in sitting room and kitchen free standing heaters in the bedrooms with thermostats and timers. However having been here for a few months I can see that the electric over the summer is much the same as it was at the cottage. By not having the oil central heating or the wood stove one makes up for the other, I worked out we spent over £600 on oil and around the same amount on wood and coal just to keep the cottage above freezing point.

    I do miss the garden for the produce we grew and being able to dry clothes on the line. I have transgressed and bought a dryer which I use on the night rate electric as I do the washer.

    I do find however that being so much closer to the shops is lulling me into a false sense of security, I find myself thinking, oh I can nip to Tesco or Aldi….no good……..

    I do admire you for being able to stay focused to such a large extent, wish I could be the same!!


  5. I do look and compare, but when we sell our current house and pay it all off, we are going to start with another mortgage. We will be putting down a huge down payment and do not plan on buying a more expensive house.

    I want a mortgage for a few reasons. First, in the US there is a tax break. Also because you can use the escrow to have your insurance, taxes, etc. paid automatically. This means they are automatically budgeted for. With a large down payment we can probably avoid the PMI (the bank takes out mortgage insurance which the home buyer pays for — and it only protects the lender).

    Also, we plan to work it so our mortgage payment would be less the we'd ever pay for rent. We plan to save while also paying the mortgage.

    You can't eat a house and in tough times, you're not going to be able to turn around and sell your home to come up with funds in an emergency. That's why I like the idea of financing with some common sense.

    Where we are, if you default on your water bill, they can put a lien on your house. Creditors can put a lien on your house and even if you've paid it off, it's not protected.

    So, we will go with a balance of both a mortgage and a responsible savings plan.


  6. Not finances as I am in a different place to you, although first debt ends in October!

    But I routinely look at mortgages and properties and land where I want to be, even though I am not yet at a place I could afford to do anything about it. I am more keeping tabs on the market though.


  7. Froogs, we really enjoyed the pix from your trip to France and we're interested in the place you stayed. I went to their site, and though I can read a bit of French I'm not fluent, did you deal with them in French or do they have some English speakers who work there?
    Love your blog, read it every day.
    We haven't paid our house off because we need the tax break, once you retire here in the states your mortgage interest is one of the few things you can deduct from your income tax.


  8. Hi Mac and Janet, you can book a caravan, or a pitch for camping at camping les druides, on their website, you don't need to phone. I have a bit of French, can't hold a conversation for long but I can book a taxi, or order a meal, or use a bus, or ask for directions or help, the owners daughter speaks very good English and she more or less runs the place. I've been going to France for six years and I get better all the time. I bought some Michel Thomas CDs in a charity shop and I play them every day in the car and learn a bit more french every day – master the verbs stems and verb chains, some connectives, some prepositions, declaratives, interrogatives, some adjectival phrases, some adjectives, adverbs, some nouns/pronouns and you have the whole language sorted – there are only so many variations


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