Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • ourcornercottage
    • By ourcornercottage 3rd Dec 14, 1:31 AM
    • 1,506Posts
    • 7,483Thanks
    ourcornercottage
    I really really want to be........mortgage free!
    • #1
    • 3rd Dec 14, 1:31 AM
    I really really want to be........mortgage free! 3rd Dec 14 at 1:31 AM
    Just starting an official diary of the countdown to getting mortgage free.

    It will, I warn be a very long countdown! Currently standing at 140k and hoping to be mortgage free by 31.12.2020. That might be a little optimistic I know but that's what I'm hoping for.

    You might say, that's okay, pull your belt in but I've got a house too in need of lots of repair (I brought it like this, on purpose, it was the only way I could afford a house in the village I wanted!) doing it up ourselves as much as possible a bit at a time.

    Okay then, ideas and advise please......!

    Updated goals and Running totals added so I can keep a track on the long term plan.

    Updated and Realistic MF goal Christmas 2024, aim Christmas 2022.
    Kw annual estimate 3309
    OP annual goal £5000 rising to £6600
    Capital reduction annual goal. £10000 rising to £12000/£13000/£14000
    MFiT-T4 reduce mortgage to £87000 by 1-1-19

    (Realistic) Targets set 2015 - possible but harder to achievetargets in green and revised hard targets in red!
    1-1-16 128000 126000
    1-1-17 116000 113000 111000
    1-1-18 104000. 100000 96000
    1-1-19 91000. 87000 81000
    1-1-20 78000. 74000 66000
    1-1-21 65000 60000 51000
    1-1-22 52000 46000 36000
    1-1-23 39000. 31000 21000
    1-1-24 26000. 15000 6000
    1-1-25 13000 GONE GONE
    Christmas 2025 GONE.

    2015 targets
    Savings 2015 - 2567.56/5000 (51%)
    MFW15 £5462.58/£5000 (109%)
    Capital reduction 2015 12011/10000 (120%)

    2016 targets
    Save 12k in 2016 target £0000/£3000
    Capital reduction 2016 target £00000/£12000
    MFW16 ????/6000

    actual figures

    Mortgage 1-1-15 - £138775.

    OP during 2015 - Jan-£448.06 Feb-£111.33 Mar-£167.10 Apr-£159.81 May-£175.26 Jun-£435.94 July-£402.99 Aug-£457.74 Sep-£716.20 Oct-£446.73 Nov-£1199.63 Dec-£741.79

    KW generated 2105- mar-312.2 April-472 may- 463 jun- 463 July - 438 August - 413 Sep-321 Oct-199 Nov-100 Dec-94

    Mortgage 1-1-16 - £126764.00

    OP during 2016 - Jan-£536.60 Feb-610.39 Mar-£1006.22 Apr-£549.92 May-£739.57 Jun- £504.79 Jul- £504.79 Aug- £506.81

    KW generated 2016 - Jan-132 Feb-236 Mar-224 Apr-419 May-438 Jun-377 Jul-487 Aug-474

    Mortgage 1-1-17 - £??????.??
    Last edited by ourcornercottage; 02-09-2016 at 4:46 AM.
Page 75
    • hiddenshadow
    • By hiddenshadow 8th Aug 17, 1:43 PM
    • 2,262 Posts
    • 10,229 Thanks
    hiddenshadow
    Good to see you back OCC! I agree, well done with the financial progress even if it doesn't feel like it. We all get in a slump sometimes.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,669 / Nov '17 £105,759
    2017 MFW #56: £13,909/£15,000 92% / MFiT-T4 #15: £53,740/£90,000 59%
    • ourcornercottage
    • By ourcornercottage 10th Aug 17, 11:02 AM
    • 1,506 Posts
    • 7,483 Thanks
    ourcornercottage
    Mortgage currently £107980.

    Aim, in 5 figures by my birthday in march

    Very doable.
    £119,375.00 MFW16 #9 £3952.49/£6000 Jan-£536.60 Feb-610.39 Mar-£1006.22 Apr-£549.92 May-£739.57 Jun-£504.79 July-£5 (reg op £199.17)
    Kw gen'd 12/15-94 1/16-132 2/16-236 3/16-231 4/16-419 5/16-438 6/16-375 7/16-0
    Save 12k 2016 #59 - £3708.48/£3000 || MFiT-T4 #12 - £67000
    • shangaijimmy
    • By shangaijimmy 10th Aug 17, 7:26 PM
    • 2,232 Posts
    • 10,270 Thanks
    shangaijimmy
    My £2 bet would be you achieve it by the end of Feb to prove a point!
    MFW: Turning June 2036 into March 2023... 32//120 Payments Challenge, Diary Reduction £34,271.00
    Aug 2009: £163,051 // Current: £101,729.00 // Avg Daily Interest £4.57
    MFiT-T4 #8 - 56.74% of £41,000
    • AlexLK
    • By AlexLK 10th Aug 17, 10:23 PM
    • 5,825 Posts
    • 30,243 Thanks
    AlexLK
    Glad to see you back, OOC. Sounds like you're doing really well re. mortgage / savings / pensions.
    Saved £11,000 in 2015, £9,800 in 2016.
    From a £32,000 debt on 2/9/2013 to debt free on 12/1/2015.
    • ourcornercottage
    • By ourcornercottage 17th Aug 17, 10:04 AM
    • 1,506 Posts
    • 7,483 Thanks
    ourcornercottage
    Mini OCC has been away (back today woohoo) so a bit spendy as taking opportunity to go out. Not good for the diet either.

    The BF has started digging out the rainwater soakaways and one goes straight under the tree stump he's been trying to dig out for a few weeks now so it's a good job he has been being careful now it's imperative the tree stump is removed rather than cutting down and killing off. Will just make this more tricky /time consuming.

    Want to start on the spongy flat roofs but might wait just in case we need to get builders in for the soakaways after all (don't think we will though)

    Few £ put accross to the mortgage.

    Not bad at all.
    £119,375.00 MFW16 #9 £3952.49/£6000 Jan-£536.60 Feb-610.39 Mar-£1006.22 Apr-£549.92 May-£739.57 Jun-£504.79 July-£5 (reg op £199.17)
    Kw gen'd 12/15-94 1/16-132 2/16-236 3/16-231 4/16-419 5/16-438 6/16-375 7/16-0
    Save 12k 2016 #59 - £3708.48/£3000 || MFiT-T4 #12 - £67000
    • Cream Tea
    • By Cream Tea 17th Aug 17, 8:06 PM
    • 419 Posts
    • 1,984 Thanks
    Cream Tea
    Hi OCC, I'm slowly catching up. Sounds exciting and achievable to be five figures early next year. Good luck xx
    Mortgage £269,432 £262,860 / MF date June'49 June'49
    Debt £27,798/£24,829 / Debt Free Est. July'21 Sept'2019

    Updated 01/09/17
    • ourcornercottage
    • By ourcornercottage 3rd Sep 17, 7:06 PM
    • 1,506 Posts
    • 7,483 Thanks
    ourcornercottage
    I managed to get over £300 in OP's in August despite the unreasonably spendy month!

    Highlights of August

    £302.54 OP to be precise.
    Reduction of £908.54
    Mortgage currently £107091.44

    Savings

    Long Term Savings/pensions increased by £1604.41
    Short Term Savings increased by £515.30
    Annual bills savings increased by 126.59

    This month has been seriously spendy with mini OCC needing his new Irlens specs (£295) and the school holidays which we have really made the most of.

    To add to the September spends MiniOCC showed some promised at Goalkeeping soccer school and has been asked to join the Youth Development Programme for our local team (Norwich City) to see if he has what it takes to progress to their player development section. The costs are minimal for what you get at £5 per weekly session which includes 1.5 hours coaching, physio, discounted tickets etc. It is a real bargain even if he doesnt progress further so cant turn it down but wasnt expecting the extra expense as you have to pay for the whole season up front.

    Mini OCC also completed in his first ever Golf tournament and not to start on an easy level he went in a high standard junior event. he did the full 9 holes in 65 which was about 20 over par but did best of the beginners his age. Another expensive day as Golf and golf courses are not cheap (5 hot drinks, £18!)

    Basically miniOCC has been rinsing out my bank account all holidays!
    £119,375.00 MFW16 #9 £3952.49/£6000 Jan-£536.60 Feb-610.39 Mar-£1006.22 Apr-£549.92 May-£739.57 Jun-£504.79 July-£5 (reg op £199.17)
    Kw gen'd 12/15-94 1/16-132 2/16-236 3/16-231 4/16-419 5/16-438 6/16-375 7/16-0
    Save 12k 2016 #59 - £3708.48/£3000 || MFiT-T4 #12 - £67000
    • Cream Tea
    • By Cream Tea 4th Sep 17, 1:47 PM
    • 419 Posts
    • 1,984 Thanks
    Cream Tea
    Congrats mini occ on the football and reduced tickets will be useful for you

    CT
    Mortgage £269,432 £262,860 / MF date June'49 June'49
    Debt £27,798/£24,829 / Debt Free Est. July'21 Sept'2019

    Updated 01/09/17
    • ourcornercottage
    • By ourcornercottage 13th Sep 17, 12:47 PM
    • 1,506 Posts
    • 7,483 Thanks
    ourcornercottage
    I have made a couple of OPs this month just over £20 so that's a start. I should hopefully get my summer FIT payments before the end of the month so that'll be a couple of hundred into the pot.

    Purchased a new tumble dryer as the other has packed up and a new hedge trimmer but all accounted for as we have been saving up for them just need to pay the cash into the CC account !

    Little bit spendy on the personal spends this month, lots of birthdays. The little mini has a birthday next month too and we usually spoil him!

    I am slowly taking the money out of funding circle to put into the mortgage as they have changed the way they work and its no longer fun. I had this for a fun money investment, its no longer fun so the money goes to the mortgage as it becomes available!

    Hoping for a £300 OP plus the FIT payment this month. fingers crossed.
    £119,375.00 MFW16 #9 £3952.49/£6000 Jan-£536.60 Feb-610.39 Mar-£1006.22 Apr-£549.92 May-£739.57 Jun-£504.79 July-£5 (reg op £199.17)
    Kw gen'd 12/15-94 1/16-132 2/16-236 3/16-231 4/16-419 5/16-438 6/16-375 7/16-0
    Save 12k 2016 #59 - £3708.48/£3000 || MFiT-T4 #12 - £67000
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,191Posts Today

6,785Users online

Martin's Twitter
  • RT @TfLTravelAlerts: Oxford Circus and Bond Street stations now both reopened and all trains are stopping normally.

  • RT @metpoliceuk: We have not located any trace of suspects, evidence of shots fired or casualties. Officers still on scene. If you are in a?

  • My hopes and prayers are that this turns out to be nothing. Stay safe.

  • Follow Martin