Glam's MFW Journey

I wasnt going to do a diary but it might help. I probably won't post often but will try to keep updating as and when I manage to get things done.

So, it was panic stations when I thought we might have to sell the house. Stupid mortgage advisor said we had no hope of getting another mortgage as OH was earning less and I was on mat leave just getting SMP. I had in my head that our rate went up to 7.2% in July - of course this was the SVR back in 2008, it's now 2.5%. I rang Lloyds who our mortgage is with to find that our payments will drop from £971 a month to £762 :j

I then started thinking about overpaying as I had done all my calculations (using the Budget Planner) based on paying the full whack.

I am now really excited about paying it off! I read another diary on here and had forgotten that for every £1 we borrowed we would pay back £X amount back (I can't find the paperwork to see how much) :eek:

So, as of this week we owe £160K but I think that includes an early repayment charge of about £4k. I'll call them in July to get a balance to see if that's right.

I have done a spreadsheet of expected income over the next few months and in July we should be able to pay off £1K, followed by £200 a month PLUS any extra money that we get.

I am doing Mystery Shopping, daily clicks, cashback and selling some stuff on ebay. My plan is to pay off even little amounts as and when I get it (I had forgotten about the daily interest). I just need to get the bank details so I can make electronic payments as and when.

My big problem is I owe my Dad £1700 and whilst there's no rush to pay him back I want to try and put aside £50 a month (I already have £600) so should have his money in 2 years.

Well, that's it really.

The mission - to clear the mortgage.
How am I gonna do it - eBay the clutter in the house, Mystery Shopping & Cashback and try to cut down on spending.
When am I gonna do it by - Realistically 2020