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uzubairu's Mortgage Free Journey

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Comments

  • StuartGMC
    StuartGMC Posts: 2,175 Forumite
    Well done on that sub-£90k position :T
  • uzubairu
    uzubairu Posts: 1,207 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Home Insurance Hacker!
    edited 30 June 2009 at 8:52AM
    Overpayment in blue, Interest in red and Balance in green.

    Year starting balance = £97,343.47
    Overpayment Reserve = £8,914.07

    June Stats:-

    Month / Payment / Overpay / Interest (per day) / Net reduction / Balance.
    Jan / 765.79 / 665.29 / 392.56 (12.66) / 1,038.52 / 96,304.95
    Feb / 891.31 / 740.00 / 349.22 (12.47) / 1,282.09 / 95,022.86
    Mar / 891.31 / 700.00 / 382.07 (12.32) / 1,209.24 / 93,813.62
    Apr / 891.31 / 700.00 / 364.89 (12.16) / 1,226.42 / 92,587.20
    May / 891.31 / 660.00 / 372.21 (12.01) / 1,179.10 / 91,408.10
    Jun / 891.31 / 950.00 / 355.69 (11.86) / 1,485.62 / 89,922.48

    Year To Date Totals
    Payment / Overpayment / Interest / Net Reduction / OP Reserve / Balance
    5,222.34 / 4,415.29 / 2,216.64 / 7,420.99 / 13,329.36 / 89,922.48
  • uzubairu
    uzubairu Posts: 1,207 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Home Insurance Hacker!
    I worked some overtime on Sunday evening, so that combined with the arrears from last month should add an extra £300 to my pay next week.

    I'm getting close to my year end target and I still have 6 months to go. :j
    If I can maintain the monthly overpayments around £750 (eBay, Quidco etc., overtime, extra from OH), I think I could get the mortgage down to £84,000 by December.

    I am going to aim for £950 again this month, and £750 in August because we are going on holiday on the 31st.

    I found out yesterday that it's going to be a bit hectic at work over the next month or so due to staff sickness/holidays which means I have to look after another department (which is in a right mess :shocked: ) as well as my own.

    Sometimes the only reward for being good at your job is picking up the cr*p that the incompetent ones leave behind. :mad:

    Right now, August 31st can't come soon enough.
  • SmlSave
    SmlSave Posts: 4,911 Forumite
    Part of the Furniture Combo Breaker
    I'm getting close to my year end target and I still have 6 months to go

    YAY! :j

    and poo to work :(
    Currently studying for a Diploma - wish me luck :)

    Phase 1 - Emergency Fund - Complete :j
    Phase 2 - £20,000 Mortgage Fund - Underway
  • uzubairu
    uzubairu Posts: 1,207 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Home Insurance Hacker!
    Yesterday was 'Mass Overpay your mortgage day' and I had pledged to pay £4.07 for every post up until 07:00 on the 4th of July.
    Here's the thread:-

    http://forums.moneysavingexpert.com/showthread.html?t=1636733

    There were 71 posts by the deadline so I paid in £288.97.
  • StuartGMC
    StuartGMC Posts: 2,175 Forumite
    Well done on that commitment and OP. Sympathies on the job front, I know the feeling of overwork at the moment....
  • uzubairu
    uzubairu Posts: 1,207 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Home Insurance Hacker!
    Earlier this month (04/07/09) I made an extra overpayment of £288.97.

    I've made an extra payment today of £99.91, which will take my July overpayment to £888.88 (including the standard £500).

    I like the look of all the 8s together, so that will be my final figure for July 2009. :)

    I may pay more than the £750 planned for August to compensate.

    I've planned to do another mass clearout (includes some of OH's clothing this time) and see if I can get anything for them on eBay.

    I've got to give my car a proper clean now, as it has been yearning for one.
  • Floxxie
    Floxxie Posts: 2,853 Forumite
    Part of the Furniture 1,000 Posts Photogenic Combo Breaker
    JesaRose on the eBay thread on the DFW board mentioned https://www.bigwardrobe.com for buying, selling and swapping clothes. Might be worth a look?

    Fantastic overpayment. Well done!
    Mortgage start September 2015 £90000 MFiT #06
  • uzubairu
    uzubairu Posts: 1,207 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker Home Insurance Hacker!
    Floxxie wrote: »
    JesaRose on the eBay thread on the DFW board mentioned www.bigwardrobe.com for buying, selling and swapping clothes. Might be worth a look?

    Fantastic overpayment. Well done!


    Thanks for your words of support.

    The site looks interesting and I will give it a go.

    I also forgot to add that I never received all my overtime last week when I was paid.
    I am due £130 next month and I (after complaining) witnessed the payment being put through on the HR system, so I know that it will be in next month's pay.
  • StuartGMC
    StuartGMC Posts: 2,175 Forumite
    uzubairu wrote: »
    I also forgot to add that I never received all my overtime last week when I was paid.
    I am due £130 next month and I (after complaining) witnessed the payment being put through on the HR system, so I know that it will be in next month's pay.

    Do remember how lucky you are to be able to claim overtime; it is an expectation in my job and for my staff, that you are "professional" so work the hours needed... I should work a 36hr week, I usually work 46-50hrs unless I also have to travel long-haul at the weekend or go to Middle East (typically can work 13days without a day off). So you can see why I never recalculate what my hourly rate really is :mad:

    Good to hear of all the OPs, you've really got something to show for your extra effort at work.
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