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  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 2,394Posts
    • 11,573Thanks
    shangaijimmy
    New Diarist - Attacking the Banks!
    • #1
    • 13th Mar 15, 12:18 PM
    New Diarist - Attacking the Banks! 13th Mar 15 at 12:18 PM
    Hi all,
    Thanks for popping and helping me to stay motivated. This would be the 3rd version of the opening post, but is reflective of where we are currently at. Lots has changed over the last 3 yrs, not least adding a 3rd child to our household!

    This post details my current goals, and as it seems a shame to ignore previous achievements I've summarised them below. This is a 120 payment challenge which would knock 11yrs off our initial draw down of 30yrs. I'm hoping for 100 payments so we'll see how we progress!

    Achievements - 35 payments
    • Balance - £98,173.08
    • Diary Reduction Total - £37,826.92
    • Cumulative Overpayments - £21,024.26
    • Monthly Average Overpayments - £600.69
    • Monthly Average Net Reduction - £1,080.77

    Long Term Targets
    • 5yr/60th payment - £70,000
    • 7yr/84th payment - £38,000
    • 9yr/108th payment - £7,000

    Targets for 2018
    • Jan 2019 - £98,200 - Actual £98,173.08 (£26.92 ahead)
    • Feb 2018 - £97,000 (End of Yr 3 Balance £39k diary reduction)
    • Mar 2018 - £95,900
    • Apr 2018 - £94,800
    • May 2018 - £93,700
    • June 2018 - £92,600
    • July 2018 - £91,500
    • Aug 2018 - £90,400
    • Sept 2018 - £89,300
    • Oct 2018 - £88,200
    • Nov 2018 - £87,100
    • Dec 2018 - £86,000
    Last edited by shangaijimmy; 14-02-2018 at 8:54 AM. Reason: Updated Goals
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
Page 122
    • shangaijimmy
    • By shangaijimmy 2nd Feb 18, 11:17 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Grrr, just checked MFiT chart and still in yellow! Need to pull my socks up!
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • shangaijimmy
    • By shangaijimmy 3rd Feb 18, 9:02 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    A wet and cold day ahead. DS2 at football this morning and the forecast is horrendous, so sat hoping for the text to say its an indoor session! At some point i'll have to drag pooch out in it as well, which won't go down well with him!

    DS1 birthday party tomorrow morning and then we can breathe out for a few weeks as the busy month is behind us.
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • try harder
    • By try harder 3rd Feb 18, 1:18 PM
    • 678 Posts
    • 2,518 Thanks
    try harder
    Great figures for January , pleased for you
    • michelle09
    • By michelle09 4th Feb 18, 5:41 PM
    • 649 Posts
    • 3,353 Thanks
    michelle09
    Great end of month figure!
    • shangaijimmy
    • By shangaijimmy 8th Feb 18, 2:13 PM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Oops, 4 days since i last posted - must do better!

    Its been a chaotic kind of week with one thing and another. I have a bit of a lull today before it gets crazy again. Moneywise we've had a week of trying to avoid any spending, other than petrol and butter! After a birthday laden January we're a tad behind where i'd like to be cash flow wise but will certainly catch up and ger back on track in Feb.

    We have some bedroom furniture arranging to sort out in Feb as we need to adjust DD bedroom from a nursery into a more clothing friendly bedroom. We have a chair and a chest of drawers that have been donated to a friend of a friend who is expecting, but are a touch held back waiting for them to arrange collection. Once that is done it's flatpack building for SJ. As we're waiting Mrs SJ is reluctant to put stuff away as you can guarantee the minute she does, itll all have to come out again.

    Alongside this our ebay bag has exploded again as DD has moved out of 18-24 month clothes and onto 2-3! So when i can mentally face it i have a big job on!
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • atypicalblonde
    • By atypicalblonde 8th Feb 18, 4:24 PM
    • 2,744 Posts
    • 18,769 Thanks
    atypicalblonde
    I need to tackle ebay too, good luck!
    MFW
    Mortgage 8.2.15 - £171,064.64 Mortgage 8.2.18 - £109,990
    Aiming to be MF 1.10.2020
    • therocket
    • By therocket 8th Feb 18, 4:51 PM
    • 25 Posts
    • 46 Thanks
    therocket
    Just caught up with your diary SJ - awesome OP for Jan! And to have an avergae OP of £600 is a great achievement!
    Also thanks for the spreadsheet - I've been practising with figures and have a clearer goal in mind once the Mrs is onboard with my "crazy" ideas!!

    Good luck with the eB@ying - kids seem to grow out of all their clothes in a flash dont they?!
    MFW - diary incoming!
    • shangaijimmy
    • By shangaijimmy 12th Feb 18, 9:06 PM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Furniture arranging done and removed from the house. So now awaiting delivery of new wardrobe on Sunday. Ebay listings was an epic failure. Even more so as the bag of goodies didn't even make it out of the garage!

    Made a £1 TT this morning after OPing the £3.27 pot yesterday. I must say that motivation for 2018 is struggling to get going...and i'm blaming it on it being cold, constantly!!
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • shangaijimmy
    • By shangaijimmy 13th Feb 18, 7:53 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Long day ahead... Its half term and i'm off with all 3 of them and the dog! And its freezing cold with rain forecast
    from 10-4...! What do we do, other than count down the hours till mum is home?? I nearly looked out the window but then thought "if i do that this morning, what will i do this afternoon?"

    84p TT this morning, but not much else happening money wise.
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • atypicalblonde
    • By atypicalblonde 13th Feb 18, 8:32 AM
    • 2,744 Posts
    • 18,769 Thanks
    atypicalblonde
    Soft play is the answer on days like this SJ! Hope it passes quickly
    MFW
    Mortgage 8.2.15 - £171,064.64 Mortgage 8.2.18 - £109,990
    Aiming to be MF 1.10.2020
    • try harder
    • By try harder 13th Feb 18, 10:49 AM
    • 678 Posts
    • 2,518 Thanks
    try harder
    Enjoy yourselves .I absolutely love the school holidays with the grandchildren ,i always cried when my children had to go back to school after the holidays. Im sure you are having a great day.
    • shangaijimmy
    • By shangaijimmy 14th Feb 18, 8:15 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Well we survived the day! Managed to get them all out for 2 walks in between the rain, 1 in pram, 1 on scooter, 1 on bike and 1 on lead! So this broke the day up!! Then Mrs SJ came home to the rescue.

    It seems that the expensive month of January may catch up with us this month. Looking at current account we don't seem as healthy as i'd forecast. Doesn't it always happen that in that expensive month for birthdays you also have; wedding present, concert tickets, 2 school trips, 2 after school clubs, airport parking, and something else that i can't quite recall! So we'll be reigning things in fot the next 4 weeks i think.

    Perhaps all of the above is why my motivation for MFW status is a little bit low. Anyway 95p TT this morning, so plodding on with the little bits.

    I also have a regular saver paying out in March to look forward to. This is all earmarked for OP pot but in typical MFW fashion it will be done in stages just in case we need the cash for an emergency. As soon as it matures i'll open one for 2018 then each month £300 will go into the regular saver and the equivalent £300 will go from a 5% current account to the mortgage. For my calculations i always deduct £3600 off the mortgage balance that is showing online to get the 'true balance'. Its my way of a mini offset and combined emergency fund. I will pay the interest from the regular saver to the mortgage by the way.
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • shangaijimmy
    • By shangaijimmy 14th Feb 18, 8:45 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Oh forgot to report a mini disaster.

    There is a well documented new toll bridge up in the North West that has had some issues with its online payment system... So last weekend i had to make a trip over said bridge. Now they give you 24hrs to pay online as there are no toll booths, before the fine systme kicks in. Obviously i forgot to pay that night but had that realisation the followng morning so quickly logged on and paid with 2hrs to spare. Job done, panic over...

    72 hrs later it dawned on me completely out of the blue that i had paid for my car, but i actually went across in Mrs SJ's car So i logged back on and paid for Mrs SJ car and setn a few e-mails off. As yet we haven't heard the outcome, but if other peoples experieicnes are to believed i have a £25 fine on its way that i'll need to contest.
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • shangaijimmy
    • By shangaijimmy 15th Feb 18, 7:51 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Up and at em this mornin with a 46p TT to start the day off.

    I'm on a course next week and have stacks of pre course reading to do. The office should be quiet this morning so intending to get feet up, drink copious amounts of tea and get stuck into the reading. I'll report back tonight on progress.
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • shangaijimmy
    • By shangaijimmy 15th Feb 18, 7:31 PM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    Well i said i'd report in with reading progress..epic failure, in that i read 0%! From the moment i walked in i had my time stolen, and it didn't stop pretty much all day! So i'm going to try and get 30mins done tonight and hope that kick starts me to attack it tomorrow afternoon.
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • Kittenkirst
    • By Kittenkirst 16th Feb 18, 3:53 AM
    • 1,768 Posts
    • 9,478 Thanks
    Kittenkirst
    So, did the reading take place?

    Have you managed to get any listings done for ebay?
    2018 MFW #20 - OP £669.60/ £3000 22% Jan: £417.42 Feb: £252.18

    Emergency fund £4K/ £6k
    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • shangaijimmy
    • By shangaijimmy 16th Feb 18, 8:58 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    I managed about 20mins before the weighted eye lids defeated me!!
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
    • CathT
    • By CathT 16th Feb 18, 11:08 AM
    • 5,428 Posts
    • 37,999 Thanks
    CathT
    I know of a few people that have been caught out on the bridge.

    Fingers crossed the next school holidays are a bit warmer and dryer. Mine have been to football club 3 days and arrived home covered in mud!
    Feb 2018 -
    part 1 - £78,989
    part 2 - £45,748
    Total - £124,737
    • A Frayed Knot
    • By A Frayed Knot 17th Feb 18, 7:59 AM
    • 2,261 Posts
    • 10,163 Thanks
    A Frayed Knot
    So, did the reading take place?

    Have you managed to get any listings done for ebay?
    Originally posted by Kittenkirst

    Was just going to ask the same thing, seems the buying bug is here again, after a miserable period of nothing much being sold since the start of the year. I am totally amazed at the 6 parcels I have to post today.
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 24 months 1/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69, 2016/£3186.80, 2017 £4068.97

    • shangaijimmy
    • By shangaijimmy 17th Feb 18, 8:55 AM
    • 2,394 Posts
    • 11,573 Thanks
    shangaijimmy
    I am determined to get at least 10 items liste this weekend, however.... I also have a wardrobe to build, a huffy green machine, plus i'm working 10.30-6 today and 10-2 tomorrow... Plus i have half the reading still to do...hmm. Not even sure a list will help me this weekend.

    Made a nice £1 TT this morning to start the weekend off, and the weekly TT pot sits at £5.02 with 1 day to go.

    Plus without realising it the month of Feb seems to have evaporated and i've realised its only 7 days till payday, 8 days till paying out day and 10 days till accounts day. Added to that the end of Feb signals 3yrs on our MFW plans, which (if things continue) means we are 1/3 of the way there (if i can find an extra £7-10k over those 6 yrs)!

    I think i may have refound my enthusiasm!!
    MFW: Turning June 2036 into March 2023... 35//120 Payments Challenge, Diary Reduction £37,826.92
    Aug 2009: £163,051 // Current: £98,173.08 // Avg Daily Interest £4.41
    MFiT-T4 #8 - 64.95% of £41,000
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