2009 MF Wannabe's

madwife28

Thanks voiletblue!

Can't wait to start and look forward to seeing all our progress and saving STACKS of interest!

:j :j :j :T :T :T !!!!

(Woo-hoo! Loads of smilies!)

madwife28

rinkydinkpanther

Can I join in ? We've started already, but I was too daunted by the size of the 2008 thread!

We have a One account, and as well as paying the interest, we are aiming to put £2500 in our mortgage pot every month, so £30,000 in 2009 ! This means me & hubby will be living on the smaller of our two incomes. This would reduce our mortgage to only £20,000, and make it possible for us to be mortgage free by the end of 2010 ( as long as we both keep our jobs !).

It's a hell of a target, but why aim low ?

:eek: :eek: :eek:

gallygirl

Ok, this is complicated so pay attention folks (and am doing this without my spreadsheets... so this may be amended ).

Currently owe around 33,000 net on part of mortgage which relates to our house. Reduces by about 200 a month. As this thread is only for OP's I won't include this - but I may need to set up another spreadsheet to monitor (with any luck - I like my spreadsheets ).

We also OP 200 a month into offset. So, that is 2,400 'guaranteed'. On top of that, I pay £200, and OH matches it. So that is 4,800, a total of 7,200. On top of that there is quidco, mystery shopping etc. And OH matches all that also. So, I reckon we could get it up to an OP of 10,000 :j .

There will be another 200 a month come May when DS finishes uni. But how much of that will go into his stomach when he comes home . And he is talking about doing an MA and living at home while he does it, financially the worst of both worlds.

Also on the negative side we have 2 BTL's which break even but if any big repairs are needed they will have to come from offset. And I am seriously considering buying a new car, that would be 200 a month less I could pay, which OH would also not be matching, so that would be 4,800 less a year :eek: .

However, on the plus side I should hopefully be letting out late mum's house & after sharing with kids I should have 200 a month, which OH would be matching so that is the 4,800 from the car made up. Still with me ?

I also intend to carry on entering comps and any money over 500 for Xmas 2009 will go to mortgage. This year that would have been contributed a further 200 in total (assuming the posh phone I've won turns up ).

So, after all those complicated musings I'm going to aim for an OP of 10,000 :T . With the monthly reductions that keeps us on target for paying off our mortgage by the time I'm 50 :rolleyes: . This will be simply measured by monitoring increase in offset balance - but may set up a spreadsheet anyway .

Will PM figs to the boss :beer: .

Good luck all :T

gillian46

Please can I join this challenge. Current mortgage £78032, plan to overpay £3000 in 2009 (£250 a month). I have been lurking for a while and have done some overpayments in 2008 but I think it's time to get serious and get rid of the mortgage sooner rather than later. I am single which makes budgeting very important.

Good luck to everyone joining this challenge

phizzimum

yay! I've been waiting for this thread to start!

I've been popping in to the MFW board for a couple of years now, but I've never actually signed up to a challenge till now.

I've pm'ed you zavarony - my goal is to reduce our mortgage by £10 000 over 2009. Do you need me to work out what my actual monthly overpayments will be, or can I just leave it as a goal to reduce the capital?

ta!

ps I'd been wondering about your username, so thanks for clearing that up. least they didn't nick name you Warrior Princess...

waves117

Good luck everyone with your new 2009 targets.....:beer:


Hi Zav ............my overpayment challenge for 2009 is £6000... lets see if I can do it! :T

pm2326

Hi
Can I join too please, current mortgage is £58,725, will aim to overpay by at least £80 a month starting this month...

zavarony

pm2326 wrote: »

Hi
Can I join too please, current mortgage is £58,725, will aim to overpay by at least £80 a month starting this month...

You have been added to the first post - Good Luck
Zav:p

zavarony

waves117 wrote: »

Good luck everyone with your new 2009 targets.....:beer:


Hi Zav ............my overpayment challenge for 2009 is £6000... lets see if I can do it! :T

Hi Waves - Thanks I have updated your target for 2009 - Good LUck
ZAv
:cool:

zavarony

phizzimum wrote: »

yay! I've been waiting for this thread to start!

I've been popping in to the MFW board for a couple of years now, but I've never actually signed up to a challenge till now.

I've pm'ed you zavarony - my goal is to reduce our mortgage by £10 000 over 2009. Do you need me to work out what my actual monthly overpayments will be, or can I just leave it as a goal to reduce the capital?

Ive put down a target of £10k - have I read your target right? or is the 10k including your regulare payments? I might re word it to be more general and state reduce mortgage by 10k instead of overpay by 10k???

ta!

ps I'd been wondering about your username, so thanks for clearing that up. least they didn't nick name you Warrior Princess...

I know - still get that one tho!!!:rolleyes:

Zav