LJ's Mortgage free road to early retirement

StuartGMC · 14 July 2009 at 9:06PM

LouiseJ wrote: »

I am sending overpayments off this weekend totalling £500 + the DD overpayment of £157 and the normal mortgage payment will bring my balance down to.............£45600 ish:j

Which is the same price as one of these
..........so basically I owe the price of a posh car

So, think how quickly you'll be able to get a posh car or whatever, once MF now you have found the mechanism to address such sums! :j:j:j

LouiseJ · 11 August 2009 at 12:06PM

I have moved over to DFW for a while as I am treating the additional borrowing as CC debt.................

But I will be back:cool:

LouiseJ · 28 November 2009 at 3:30PM

I have signed up for the Mfi3 challenge so I shall be returning shortly:D

LouiseJ · 18 December 2009 at 4:06PM

Switches lights on, gives the cushions a quick shake opens a window to let the musty air out.

Honey I'm Home:D

I have just sent my first overpayment for the Mfi3 challenge which started on 12/12/09 having worked it all out using spreadsheets and many other manner of calculating devices I have discovered that should the interest rate remain the same (remote chance) then I need to be making mortgage payments of £1147 per month..........*thud*

*Lou picks herself back up from the floor, gives her head a shake and wonders who's bright idea this was*...........Ahhh yes that Financial Bliss is to blame:rotfl:

I do have a plan though............thankfully.

Be back just as soon as I have worked it out.

LouiseJ · 18 December 2009 at 7:40PM

So to the plan.......

Carry out a bills audit - This should be as given but as with most people with busy lifestyles things have slipped so I shall be nit picking over every direct debit.

Maintain a spending diary - again a MSE basic but once again something I have let slip.

Set a realistic budget - this will be the difference between success and failure of this challenge for me.

Money Neutral gifts - All Birthday and Christmas gifts will have to be either bought or "aquired" by money neutral means. This will include money raised by selling/surveys/scratchcards/cashback/mystery shopping/free gift offers/comp wins/homemade gifts etc.

Money Neutral Holidays (or as near as damn it) - Collecting maximum Mr T clubcard vouchers making the most of points offers for holidays in 2011 and 2012 (2010 has already been booked and almost saved for).

Any further ideas would be appreciated as this is going to be a challenge and a half :eek:

financialbliss · 18 December 2009 at 9:25PM

LouiseJ wrote: »

I have just sent my first overpayment for the Mfi3 challenge which started on 12/12/09 having worked it all out using spreadsheets and many other manner of calculating devices I have discovered that should the interest rate remain the same (remote chance) then I need to be making mortgage payments of £1147 per month..........*thud*

*Lou picks herself back up from the floor, gives her head a shake and wonders who's bright idea this was*...........Ahhh yes that Financial Bliss is to blame:rotfl:

Hey girl, you think you have a problem... :doh:

financialbliss wrote: »

Unfortunately, in order to hit the 12/12/12 goal, I’d need to pay £1,464.30 a month, which means I have a shortfall of £364.30, every month.

Trouble is I don't have a cast iron plan to keep me on track...

Nice to see you're back though!

FB.

LouiseJ · 19 December 2009 at 1:38AM

Thanks FB, how about checking out Matched Betting

LouiseJ · 19 December 2009 at 10:38AM

Progress on my DD audit-

I have written to cancel our Sky TV subscription which will save £20 a month and as the kids only ever watch re-runs of The Simpsons and Futurama it has been decided that it is more money than its worth.

Mortgage Protection Insurance of £32 a month has now been stopped as thankfully if one of us lost our jobs then we could still pay the mortgage and as the insurance only pays out for 6 months I cannot justify keeping the policy.

To do today - Sort out Orange mobile and Broadband which we are paying £45 for both, according to the Orange website if you have a mobile contract then the internet price is significantly reduced I just need OH to ring them up. I am hoping to knock at least £15 from this bill.

DS1 has been having guitar lessons for the last 2 years but as he is now studying for 4 A levels and also taking drum lessons he has decided that playing guitar is not a priority so wants to discontinue with his lessons. I feel a bit sad about this one but it was his decision and it does save £26 a month.

Thats £93 worth of savings a month:j