2009 MF Wannabe's

wildfrog

Hello,

No274 checking in for september. Unfortunately my overpayment for this month is nil:(

OH has told me of credit card debts he has, although not massive (about £800) I didn't know he had them! He has only been paying the minimum payments for over a year. So I've decided to stop overpaying the mortgage so we can use the money to pay off the credit cards as quickly as possible. Hopefully we will be able to start OPing again in the new year.

Well done everyone, I do find this thread really inspirational and motivating, hopefully I will be back soon!

WF

co123456

Sympathies Wildfrog. I too have 'one of those'. OH has a nasty Next Directory habit and sometimes springs a £400 bill on me.

cha97michelle

I was a bit rubbish and forgot to report my August overpayment, but i've PM'd Zav now and want to record my progress here.

Well done for every payment made, however big or small. We are all doing really well to be safeguarding our futures by doing this.

For me, We cashed in DH's badly paying ISA and put a total of £17,158.77 into our mortgage for August.

This takes our yearly total £18, 646.96 which is 932% of our original £2k target. Staggering. This is my last month of salary though as i packed my job in to be a stay at home mum for a bit, so things will slow down from now as the cash flow turns into a trickle, but if we hadn't been doing this while i was earning, i wouldn't have been able to make this choice so we are still happy with ourselves.

I'll try and remember to pop in again in another couple of weeks. :rolleyes:

SmileyG_2

September has been a good month to date.
1) My overpayment of £250 has left my account today, reducing the mortgage balance to £55,801.:T
2) Investments have picked up in the last 14 days, raising the total to £12,300 (+£550 since 01/08/2009):T
3) My estimated value for the endowment will increase at the end of September. My revaluations are always conservative as there is no clear indication of its true value. The important valuations come around 2013-14, when I will be looking for monthly surrender values.
4) Overall current deficit is now -£24376 (+£1159 since 01/08/2009):T:T

This also means a predicted interest saving of £486.46 since Jan 2009 until my MF date of September 2014, My £250pm overpayment is more than covering the mortgage interest (£242.42).

Continuing improvement on the investment front means that overpayments plus the endowment plus my investments could leave me with a contingency of £911, which could now see me mortgage free three months early. As I wrote last month, this assumes that interest rates stay unchanged (most unlikely!). I am still targeting a contingency of £2500 before I review my overpayments.
No major financial shocks since the beginning of the month. Although the sale of shares at the end of August cost me a potential gain of £80 on my investments. My portfolio was overweight with shares, and like house prices, I still think the market is due a correction. Some commentators think the market is 20-25% overvalued on forward earnings, so at least a 15% correction is possible. It's hard to believe that given the rise in the FTSE100 today, but the current rate of recovery in the stockmarket is worrying.
Note to oneself: Bookmark this post and re-visit it in 12 months!
Hpoe everyone else is still foccussed and heading towards their intended MF date.
Keep believing and prepare for success!!!

SmileyG

co123456

SmileyG wrote: »

2) Investments have picked up in the last 14 days, raising the total to £12,300 (+£550 since 01/08/2009):T
.......
Keep believing and prepare for success!!!

SmileyG

Haven't they just! Good luck (none needed)!

vwchris

Hi there, #222 checking in....

Forgot to post in August so this is for the past two months....

Aim is to reduce mortgage to £148,000.
Total capital repayment required in 2009 is £10,340.
This TWO months capital repayment is £3100.
Total capital repayment for 2009 is £10,340.

Soooo Target achieved! I will be carrying on with the overpayments, hope to get the balance below £145,000 by January 1st.

Cheers

Nessa56

:hello: hi all 306 reporting in not very happy was unable to overpay anything in August as some unexpected bills turned up, so not sure if can this month either, never mind it will happen that much I do know and what an inspiration you all are.

Congratulations

v
x

glitterball

OOPs forgot to post this months overpayment of £348.56 which means I have made my target for this year :j no stop for the wicked though if I'm to make mortgage free for 1/5/15.

Frugal_Moose

£500 OP now cleared, YEAH!, but proving to be very difficult as paying a car loan too.
Total paid off is now £4831 so have recalulated and can afford £360 a month for the last 3 months and together with our offsetting will still hit the £6K target.

Keep up the good work everyone, thanks for the inspiration.

belfastgirl23

Hi everyone, I've not disappeared from my MFW journey just been on holiday. Still managed to make my overpayment for August of £305 bringing the total paid up to £2540. So should make my £3k target ok.

Also managed to put away another £330 thanks to the Nationwide's superlow 2.5% rate but I don't want to count it towards my original target. Will add in at the end of the year though.

Hope you're all doing ok!