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  • FIRST POST
    • ajmoney
    • By ajmoney 5th Aug 16, 10:50 AM
    • 4,684Posts
    • 54,634Thanks
    ajmoney
    Project Mortgage Neutral Begins
    • #1
    • 5th Aug 16, 10:50 AM
    Project Mortgage Neutral Begins 5th Aug 16 at 10:50 AM
    Hi. We have just remortgaged on our larger product and while mortgage freedom is still the ultimate goal I am working on the smaller challenge of mortgage neutral first.

    We have a smaller mortgage that we transferred when we moved 5 years ago and a larger mortgage that topped it up.

    Mortgage 1

    Total £32097.21
    Interest 2.68%
    Redemption Date Februray 2030
    This is a tracker mortgage, we are not tied into anything but the deal is so good that unless things change substantially I don't intend to change this.

    Mortgage 2

    Total £103615.51
    Interest 1.74%
    Redemption Date February 2030
    This a tracker mortgage too with the current deal ending in August 2018.

    First and foremost I want to get rid of the larger mortgage even though it has the lower interest rate as it is the biggest debt and is the one product we have that could be a struggle if we ever got stupid interest rates.

    We are due to hit mortgage neutral in July 2021. This is worked out with all our mortgage rates staying the same and not receiving any interest on our savings. I am hoping the fluctuations in these will even each other out.

    While Mr AJM is happy to reach mortgage neutral, mortgage free and therefore retire early this a solo journey with it all being my effort. We haven't changed our lifestyle at all so there are always other things we can do but this is not so important to us at the moment.

    I will add more as the next few days go by. Recently I have been guilty of ignoring my thread but I am hoping starting a new thread will get me on here a little bit more.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

Page 2
    • HelenDaveKids
    • By HelenDaveKids 21st Aug 16, 9:06 PM
    • 3,164 Posts
    • 21,076 Thanks
    HelenDaveKids
    popped in to read new thread. Well done on running.
    I love my asics. I have had others but do prefer them. I cheat. I try them on elsewhere then pick several of them off amazon into my wishlist. I edit a note and write on it the current prices, as they dip (they always do) I swoop in and buy using my survey AGC money. No guilt as earnt for free.
    Morgage till Nov 30 GOAL MFW Sept 2016
    Aug 11 - £100k Aug 2016.... It's GONE!!!!!
    2014 GOAL HIT 5 Stone! 2016 GOAL to be a MF marathon runner.
    "A goal without a plan is just a wish"
    • ajmoney
    • By ajmoney 23rd Aug 16, 2:19 PM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    Really struggling with motivation at work which isn't helped by slow replies to my emails! I have given up in the office as I wasn't getting anything done anyway. Need to buy some work related music online, do a bit of organising for tonight's rehearsal and then I am off out for a short run.

    I have been a bit cheeky and email all my family members/close friends in my personal email contacts with a link to my fundraising page asking them to take a look and consider sponsoring me for the Great North Run. I don't see them very often anyway, and by the time I do they will have forgotten all about it!

    I am doing a full week at work this week so really looking forward to the weekend. We had a great time with our relatives at a wedding but we were the hosts so haven't had anytime to ourselves. Just one family commitment next weekend so it should be a little less tiring. We didn't spend nearly as much as we expected so I am working out what to move across to my savings
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 1st Sep 16, 8:53 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    My favourite day, the 1st of the month aka money shuffle day. I moved the surplus from my current account across to my RS account yesterday so am starting with a clean slate today.

    I don't have any planned purchases and any birthdays for the month have already been covered so I am going to try something a little different. I am still basing my monthly spends on £10 a day as I have been a little lax in keeping track of it to see if I can reduce it so I will start back with that today. I am also going to keep in my account the amount for my bills plus £300 (the £10 a day for September) and move the rest across to my RS account. If I need it them great it will have been collecting interest while there, if not then I will be less tempted.

    The base rate cut means we have an extra £15 going to our OPs a month now. If we were only sticking to our OPs we would need to find about £7.50 at the end of the year to get under £100k but I think that will already be done today with a bill that should be a little smaller than normal!

    11 days until the Great North Run I had a long run on Monday and the last 3.5 miles were really tough. For the first time ever it has made me panic about the day itself but a colleague has assured me that I will be fine. I have a much shorter run in store today.

    Off to do the money shuffle
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 1st Sep 16, 9:07 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    While I shouldn't complain, the banks are very slow to start taking any money today. In the meantime I have updated my spreadsheets and my signature on here. I know the referndum/cuts etc aren't great for savings but my S&S ISA is booming, another £1300 made this month off a £100 investment, maybe now is the time to look at this a little differently!

    I updated my OP spreadsheet with my new OPs but failed to reduce the monthly payment so it is a little unrealistic at the moment. Off to change that and hope that the banks are up and about when I have finished.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 1st Sep 16, 10:28 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    Delays to outgoing payments, standing orders and direct debits so I can't do my money shuffling. Money hasn't transferred to our joint account either so I need to remember to use my account for the shopping. Lucky that pay day was yesterday!
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 1st Sep 16, 1:42 PM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    Money shuffle done so I am happy now

    Without taking anything Mr AJM has saved in the last month we have managed to bring forward our projected mortgage neutral date by a month to November 2020, 4 years and 2 months to go and reducing all the time It looks like it may be reducing each month by a month which is great but this will only be while my S&S ISA is doing so well.

    I think I need to double check that the funds I am paying into are still ok which seems silly when it is doing so well. Maybe I could add some extra money to another fund. I also need to take some advice on my pension/retirement requirements.

    I went for my run earlier, have been food shopping and have bought myself a magazing to read at my leisure as I am home from work early for the week.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 5th Sep 16, 8:24 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    Off back to work today, luckily it is only for 2 days and then I will be back again.

    This week I will mostly be trying to eat, sleep and hydrate ready for the Great North Run on Sunday, even fb has started counting down for me! I am looking forward to it but know it will be the toughest thing I have ever done in my life.

    Money wise things are going really well. I think the interest for our larger mortgage should be below £4 a day by the end of the year. Amazing really considering it was over £11 a day in July before we remortgaged. I really hope we can keep getting good deals when we remortgage.

    While we are en route to mortgage neutral, my preferred mortgage free anniversary has just been, I would love to be mortgage free by 3/9/2022 if possible as this is when my contract with work finishes. 6 years will be very tough and probably not achieveable, especially as we don't want to change too much of our lifestyle at the moment. It will be fun seeing how close we can get. I am hoping hitting mortgage neutral may spur us on.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 6th Sep 16, 2:56 PM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    I am currently feeling a little bit stressed out by work even though I have already achieved the necessary thing to do. Why do I set myself jobs with time scales when they are things that don't need one? Having a cuppa in the cafe to make me stop and take a break and reassess what needs to be done. Whatever happens I will be home by this time tomorrow.

    Cuppa has cost me money but it has been offset by a free lunch at a network chat where I have managed to do some networking. I have also used the free WiFi to check my financials

    Right, back to it...
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • MallyGirl
    • By MallyGirl 6th Sep 16, 3:13 PM
    • 1,317 Posts
    • 3,316 Thanks
    MallyGirl
    I have a new pair of running shoes to break in, I think you've inspired me to go out for a couple of miles tonight. Trying out a pair of Brooks as I could no longer justify £100+ for my favoured Asics (and I don't like the fit of the new model Kayano, far too 'engineered' and narrow)
    Originally posted by edinburgher
    I have just moved to Gel Kayanos from Brooks as I have very narrow feet but need a ladies 10. The Brooks have got steadily wider as I have moved through newer models so I am hoping that the Keyanos will be better.
    OneAccount flexible mortgage due to be repaid Nov 2025
    Current o/s amount - £30k @ 3.9% 5% LTV
    £37k stoozed on 0% cards till '18 / '19
    MF Target date - Jan '17 (we will be 49)
    • ajmoney
    • By ajmoney 8th Sep 16, 10:53 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    The weather is so rubbish today

    I am trying to have a productive day off at home, I have already done the ironing. Next on my list is to file my paperwork as it has been piled up for a little while. I am intending on making a financial review appointment with my bank over the next month or so and want to make sure everything is in order. I can't decide whether to go and have my appointment and then go to a separate one with Mr AJM or book one for both of us, apart from household bills we keep our finances separate so it is a tough one.

    Money wise everything is ticking along nicely but that doesn't seem to be making me content at the moment, I need a bit of a challenge so I feel my money is working better for me and my future.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 8th Sep 16, 11:37 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    I have transferred £250 into my RS account so have maxed it out for September. I was going to hedge my bets and keep it in my current account but how am I ever going to challenge myself if I do that? I have about £190 for September spends which should be more than enough. If I have enough left towars the end of the month I am going to put the money towards a new pair of trainers as I have found mine may be slightly too small, not great ahead of the Great North Run on Sunday.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 9th Sep 16, 1:55 PM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    I have done my final training run, have double and triple checked my stuff and packed my bag. Will be going for the train to my parent's once Mr AJM gets home from work and in 45ish hours I will be starting the Great North Run. I am quite excited by it at the moment, I may not have done all the runs in my training programme but I feel prepared for the running, just hope I don't run out of energy on the course. I'm sure I will have forgotten something but I have the important stuff.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • Popgirl
    • By Popgirl 9th Sep 16, 2:01 PM
    • 114 Posts
    • 384 Thanks
    Popgirl
    Good Luck with the run, it's a fantastic atmosphere and the support and encouragement you get from fellow runners and spectators will see you through to the end.

    Best wishes
    PG
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 9th Sep 16, 3:58 PM
    • 406 Posts
    • 1,824 Thanks
    SuperSecretSquirrel
    Good luck, and have fun!
    Mortgage: £28,501.88 [MFiT4 MN+60k: MN+£28,699.85] (1/9/16)
    Independence: 11.2% [300k in 2020: 71.7%] (1/9/16)
    • ajmoney
    • By ajmoney 12th Sep 16, 8:25 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    I completed the Great North Run yesterday and I achieved my aim of not walking any of it I managed to raise above my target for my charity and it was great to meet them afterwards. I found the 1st half a lot easier than the 2nd half, if I was ever to consider doing it again I would spend longer building up and do far more longer runs to work on the 2nd part but at the moment I am happy to run no further than 10k. My body is doing far better than I expected, my feet are sore from running on tarmac for so long and my knee is sore but it already was anyway, other than that I just feel really tired. It is such a big event that we took ages getting away and it was 6 hours until I managed to eat anything so my energy levels are pretty low. I am deliberately not taking my running trainers back to work with me so I can't run this week. I am planning on swimming only while my muscles recover.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 22nd Sep 16, 11:27 AM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    Feeling pretty tired and weary at the moment, not helped by only having 23 hours at home last weekend. I have 4 days at home this weekend so I am hoping that will help. I started a jigsaw 2 weeks ago and have spent this morning finishing it, next time I will find an easier one!

    I had a bit of an issue with one of my band members this week, I rang to apologise for the way I spoke to him that has caused upset, even though I felt it was provoked I took the upper hand. At least I know I need to deal with that situation better if it happens again. I am slowly starting to feel better about it but it will certainly make me very wary at work now.

    The plan for today is to get some shopping, go swimming, sort out my financials for next month and have as much of a relaxing day as possible.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

    • ajmoney
    • By ajmoney 23rd Sep 16, 1:01 PM
    • 4,684 Posts
    • 54,634 Thanks
    ajmoney
    I have planned our meals for the weekend and bought everything we need apart from bread which we will get on Sunday so it is fresh, I am trying to get more organised when I am home so this is a start. The next stage is to see what we have in the cupboards and freezer, plan to use it up and go back to getting what we can in the cheaper shops before getting the remaining things in our usual supermarket. I am looking forward to the time I am living at home permanently so I can do this on a permanent basis.

    I got lane rage in the swimming pool this morning. There was a guy in the same lane as me who was a little slower than the lane dictated, I wouldn't mind but he never let anyone pass him at the end of each lane so it was a little tedious at times. I wouldn't mind but there a lane etiquette signs everywhere which aren't enforced by the pool staff, they didn't even stick to it at a swimathon event I did earlier in the year. 1st world problems I guess.

    Our finances are looking good at the moment. We will have an extra £64ish available to us from November which I have already added into my OP spreadsheet, it doesn't seem to make too much of a difference but can only help.
    2016 MFW No. 70 £2365.75/£3000
    MFiT-T4 No. 70 £5829.87/£329736
    Mortgage £135908.98 Savings £72904(ish)
    Total left to pay/save £63004.98

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