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  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 1,814Posts
    • 7,525Thanks
    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,
    I've knocked about a bit off and on for the last few years and a bit more heavily in the last 4 months. I've threatened a diary, but also found an excuse not to. Excuses are now fully exhausted so here goes. Remortgage complete, which i'll detail later, bank accounts organised (again i'll discuss later), spreadsheets plentiful and i'm learning on the go with these.

    Overall goal - pay off in 10 years, so 120 payments
    Dream goal - pay off in 8 years, so 96 payment

    Targets for first 2 yrs - March 2015 - February 2017
    Balance at start of diary and remortgage - £136,000
    • Sept 2015 - Balance below £130k - Actual £129,001
    • Nov 2015 - Below £7 daily interest - Actual £6.98
    • Dec 2015 - End of Calendar Year Balance below £126,500 - Actual £125,861.94
    • Jan 2016 - Daily Interest Reduction of 50p per day from diary starting - Actual 61p
    • Feb 2016 - End of Yr 1 Balance £124,500 (£11.5k reduction)) - Actual £123,494.38 (£12,505.64 reduction)
    • Mar 2016 - OP of £700 - Actual £884.36
    • June 2016 - Balance below £120k - Actual May 2016
    • Aug 2016 - 1st 31 day month below £200 interest - Actual £198.93
    • Aug 2016 - £1 reduction in daily interest since diary so under £6.41 - Actual £6.36 so £1.05
    • Oct 2016 - Balance below £114,500k - Missed target, actual £114,538.32
    • Dec 2016 - End of Calendar Year Balance below £112,000
    • Feb 2017 - End of Yr 2 Balance £109,000 (£27k reduction since diary began)
    Last edited by shangaijimmy; 01-11-2016 at 4:30 PM. Reason: Updated Goals
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
Page 91
    • debtfreeoneday
    • By debtfreeoneday 7th Oct 16, 7:21 AM
    • 2,380 Posts
    • 7,885 Thanks
    debtfreeoneday
    Hope you are feeling less worn out today SJ!
    DFW (08/08) £64,346.53
    CC1 - £1111.99 ~~~ CC2 - £975.00
    MFW (01/15) £118,031.21 £102,178.42
    • shangaijimmy
    • By shangaijimmy 9th Oct 16, 5:58 PM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    Glad to say that the weekend has been no less hectic than usual with 3 kids and a dog! Currently counting down the minutes to bedtime, and then looking forward to a restful week in work (scheduled to be a 'down' week).

    I spent some time earlier on spreadsheet and budgets as i'm wondering if we need to allocate some more money to everyday spending and a bit less to OP fund. As much as it kills me slow down our mortgage repayment plans. So far i've redirected £30 and have a some more cash 'allocated', i'm going to monitor for the next 1-2 months. I've also had a chat with Mrs SJ as we've overspent considerably on 3 of the last 4 months, and when i say we its definitely not me! I'm pretty confident that with her being back in work it'll stop, but we do need to keep an eye on it.

    Done a few money shuffles of TT pot and some current account interest (these accounts have been obliterated with new lounge and soon to be decorated hall stairs and landings), and so far for October we've OP'd £29.60 with £15 to come tomorrow once tesco dd's have taken Halifax rewards.

    Had another peep at FD mortgages whilst i was doing banking and currently we could get 1.64% which is £615 per month. That's £70 per month less than current deal! Really i need to stop this as i can't lock in a rate until December and who knows what rates will be about by then.

    For those in the MB know, i've discovered the 'free money' involved in accumulator refunds and am marveling at the complexity of the spreadsheets available! I'm formulating a plan to try and do 5 per weekend which i think will conservatively make me about £40 a week!

    Right i've packed lunches to make and then need to register our passports with the airline ready for our hols in 11 sleeps!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • lippy1923
    • By lippy1923 9th Oct 16, 6:53 PM
    • 1,057 Posts
    • 2,995 Thanks
    lippy1923
    See how the extra spending money goes. You have to have the right balance to make it work.
    I'm trying my hardest not to look at mortgage rates as I cant lock anything in until around April next year. But it is hard not to window shop right now!
    I really need to get the hang on MB. I keep reading up on it, but just get so lost. Maybe I should pay an expert to do it for me and share the winnings lol.
    Total Mortgage OP £15,000
    House Value £240,000 Mortgage £99,932
    Emergency Fund £21,575
    Shares £93
    • shangaijimmy
    • By shangaijimmy 10th Oct 16, 7:54 AM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    For MBing, spreadsheets are the way forward. I read a great quote that said "...its a spreadsheet, don't try to understand how it works. Let it do its job and just do what is says..."

    The week is off and runiing with my Halfiax rewards dispatched to mortgage pot and £1 TT'd. I am expecting some quidco cash and an energy switch bonus this month as well, so may hit £600 again for October.

    Interestingly over the last 19 months of OPing, and recording figures to the exact pence (£569.53 etc...) to date our monthly average is exactly £600.00. How bizarre!!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • shangaijimmy
    • By shangaijimmy 11th Oct 16, 9:38 PM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    Very little happening here. TT'd 6p this morning and had to do some money shuffles to cover CC. We pay in full each month but this month have decided to abandon using it so i've had to 'borrow' some cash from another fund as effectively we'll pay twice this month but nothing the following.

    We have 9 sleeps till our hols and the boys are getting very excited. DS1 told us not to talk about it as it makes him want to go 'right now'!

    Our decorator cousin is all booked in do the hall stairs and landings (three floors, 9 doors, and 48 spindles) whilst we are away, which will be a good job sorted. After that we'll just need a small amount of flooring fitted then all jobs done for 2016!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • A Frayed Knot
    • By A Frayed Knot 11th Oct 16, 9:45 PM
    • 1,742 Posts
    • 7,989 Thanks
    A Frayed Knot
    Except winter tidy in garden.

    Joking aside, you've been very, very busy this year. Well done to you.
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
    • shangaijimmy
    • By shangaijimmy 14th Oct 16, 8:03 AM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    55p TT this morning. Accounts looking reasonably healthy considering the CC shenanigans. After 10months of an accident insurance claim we've finally settled with the company and have £2750 on its way to us. No idea where we'll do with it, but we're determined not to waste/fritter it away. Just a shame we can get much interest anymore!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • A Frayed Knot
    • By A Frayed Knot 14th Oct 16, 8:27 AM
    • 1,742 Posts
    • 7,989 Thanks
    A Frayed Knot
    Excellent news, lovely bonus, and am wondering what to do next regarding interest rates.
    Always have 00.00 at the end of your mortgage balance and someday it will all be 0's
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    o/p 2014/£4000, 2015/£6294.69 MFW2016 #27 £3101.03/£3000
    £1000/£1000 51.44/33.29=84.73
    • debtfreeoneday
    • By debtfreeoneday 14th Oct 16, 10:33 AM
    • 2,380 Posts
    • 7,885 Thanks
    debtfreeoneday
    Well done on that nice little bonus!
    DFW (08/08) £64,346.53
    CC1 - £1111.99 ~~~ CC2 - £975.00
    MFW (01/15) £118,031.21 £102,178.42
    • shangaijimmy
    • By shangaijimmy 14th Oct 16, 8:37 PM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    I opened a funding circle account in August and threw £400 of our long term savings into it figuring we won't be touching it for 8-10 years anyway (money is earmarked for a new kitchen once the mortgage is gone). I can add to it every month as we put £60 away for this fund. So far the 24 loans have been paid on time and the interest earnings have been enough to go straight out to a further loan. The website is saying we'll get 6.9% interest overall which i'm very happy with. So i think this will be my plan for the time being whilst interest rates are pathetic (only for cash that we don't need to touch for several years though).
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • shangaijimmy
    • By shangaijimmy 16th Oct 16, 3:21 PM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    £4.63 TT pot for week OP'd this morning. Finally off work for 2 weeks, got a few days of "jobs" to do, but 5 sleeps to hols which isn't definitely needed!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • Moneyfordreams
    • By Moneyfordreams 16th Oct 16, 3:46 PM
    • 645 Posts
    • 3,042 Thanks
    Moneyfordreams
    Have a lovely rest, before your holiday
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £168060
    Car loan finished oct 16
    h@lifax CC £5360 0% until May 2018.. will pay minimum for now, slow stooze
    • shangaijimmy
    • By shangaijimmy 17th Oct 16, 8:01 AM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    Well mrs SJ left to work calling me all kinds. It was my fault as at 6.45am as she was getting up and ready for work I 'let it slip' that I was on my holidays.......! My house plan for the week is to blitz every room from top to bottom with 3 bin bags, charity, eBay and tip! I also need an hour in the garden tidying it all up for winter. Though i also have a big dog walk each day and a snooze to fit in!

    25p TT this morning. Both paydays are this weekend and we should be in credit. Our decorator cousin is painting whilst we're away so I'll buy paint from our monthly credit rather than savings.

    No other financial info other than house insurance is on the horizon in November.

    Oh one question what an earth do you get an 11 month old girl for Christmas...we're a bit stuck for ideas!
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • Moneyfordreams
    • By Moneyfordreams 17th Oct 16, 10:15 PM
    • 645 Posts
    • 3,042 Thanks
    Moneyfordreams
    We got our little GD a peppa pig bag and a blanket from B$M when she was that age.. what about one of those activity centres to help her stand up ?
    Mortgage Feb '13 £200000, end 2038. Aiming for before March 2025 (crunched to 2034)
    January 16 £182800 : minimum £360 OP but needs to be £600 to achieve 2025
    Current mortgage £168060
    Car loan finished oct 16
    h@lifax CC £5360 0% until May 2018.. will pay minimum for now, slow stooze
    • jeepjunkie
    • By jeepjunkie 28th Oct 16, 2:08 PM
    • 1,273 Posts
    • 1,263 Thanks
    jeepjunkie
    For MBing, spreadsheets are the way forward. I read a great quote that said "...its a spreadsheet, don't try to understand how it works. Let it do its job and just do what is says..."

    Originally posted by shangaijimmy

    Wife's spread sheet is getting very complex but necessary to keep track of all those bets and transactions. The last four weeks winnings total £3400. Would have been £1k higher but horses pulled at the last min!


    All the best!
    • debtfreeoneday
    • By debtfreeoneday 30th Oct 16, 4:33 AM
    • 2,380 Posts
    • 7,885 Thanks
    debtfreeoneday
    Hope you're OK SJ! You've very quiet of late!
    DFW (08/08) £64,346.53
    CC1 - £1111.99 ~~~ CC2 - £975.00
    MFW (01/15) £118,031.21 £102,178.42
    • atypicalblonde
    • By atypicalblonde 30th Oct 16, 6:13 AM
    • 1,611 Posts
    • 8,439 Thanks
    atypicalblonde
    SJ - I would get your 11 month old absolutely nothing! We never bought ours a gift for Christmas until they were two - they were genuinely happy playing with the wrapping, and got enough carp from other people. She won't know you haven't got her anything!
    MFW
    Mortgage 8.2.15 - £171,064.64 Mortgage 3.11.16 - £139,251.40
    • CathT
    • By CathT 30th Oct 16, 7:51 AM
    • 4,885 Posts
    • 33,478 Thanks
    CathT
    For ds first christmas (he was only 2 months old) we re-wrapped dd old toys. They weren't quite age appropriate as more suitable for 6 months plus but he knew no different!

    Dd however, who was 3 did comment 'I used to have one of them!'

    Hope you had a fab holiday SJ. Getting the decorating done whilst away is definitely a good idea.
    Last edited by CathT; 30-10-2016 at 1:27 PM.
    June 2010 £121,287
    Nov 2016 £84,680
    WIOTW Nov £92,214
    • shangaijimmy
    • By shangaijimmy 30th Oct 16, 12:41 PM
    • 1,814 Posts
    • 7,525 Thanks
    shangaijimmy
    Hi all, just back from a fabulous holiday in Egypt! A little jaded and certainly not rested with 3 little un's but we've had an amazing week. Fabulous place, great value and we'll be heading back next year!

    Lovely decorating that we returned too so now just need to book the handyman in to fit some new flooring in the hall and downstairs toilet.

    I'll be back on the ebay trail this afternoon as we have a bag of 6-9 month baby clothes to list, then hopefully tonight i'll be able to post our October accounts (if not tonight then definitely tomorrow). Then i'm hoping for a diary catch up session later.

    As for baby christmas, she'll be getting a trike! DS 1 we're not sure (possibly a bike, but his birthday is in January if not for Christmas), DS2 a new bike!

    Right i'm off out with dog whilst its a nice day, back later...
    MFW: Original June 2036 // Aim March 2025 - 21//120 payments // Avg Daily Interest £6.19
    Aug 2009: £163,051 // Aug 2012: £146,818 // Aug 2015: £131,010 Current: £113,533.22
    MFiT-T4 #8 - 17.63% of £41,000 // 2016 MFW #2 - £6,961.06/£7,200
    • hiddenshadow
    • By hiddenshadow 30th Oct 16, 12:52 PM
    • 1,765 Posts
    • 7,995 Thanks
    hiddenshadow
    Glad you had a nice holiday, SJ.
    MFW: Dec '13 £197,100 / Dec '14 £180,691 / Dec '15 £161,669 / Dec '16 £119,900 (£6,628 offset)
    Payment 35/84 / 2016 MFW #56: £41,769/£43,000 97% / MFiT-T4 #15: £39,600/£90,000 44%
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