MFW Challenge - Pay Off Your Annual Interest aka Yet Another Diary

nattypants

Eeewww - I know how annoying it is when you type up a message only lose it:rolleyes:

I def need to organise myself and join you in the ebay challenge - I know this isn't the DFW board but just had a review of my finances and am really overstretched moneywise until end of Feb.
Am I allowed to tell you on this board or do I have to wait until on DFW?

Anyhoo this means only £100 extra OP squidders on the mortgage to coincide with end of Jan and end Feb salary payment DOH DOH DOH!

I wish I could review my mortgage online like you can as I really think this visibility would help my motivation. Talking of motivation, I've been reading the MFW Roll of Honours - wow!!! so inspiring.

I love the fact you OP on even the smallest amount - I need to get into this mindset:j
Today is officially the dreariest day of the year so I at least have something to blame my negativity on:rotfl:

Keep going Flozzie - you're doing fab :T

NP x

Floxxie

NP,

You don't have to wait until you are on the DFW board - afterall a mortgage is just another debt and we are all friends on this board. Definitely get eBaying; even if you are only putting on one or two items on a day, it will start bringing in some funds (hopefully).

If you read through the successful people on this board, they have either joined the various DFW challenges, including living off £4k a year or have great budgets in place. (I'm not very good at either one!) Quite a few are former DFWers (including myself) so lessons learnt can be used on getting rid of the mortgage but yes agree, those who have managed to clear their mortgage - how great would that feel?

Even if you can't see your mortgage online, you know where you were in December so just plug the figures in to a calculator to motivate yourself. Think it is FinancialBliss who has put together a great little calculator where you input the level you want to be at and it works out what you need to pay per month (there is a diary). It is one of many that I have on my laptop to keep me motivated. Found it really tough until £90k as even large amounts appeared not to make much difference but hopefully with the low interest rates, things will move a little quicker.

Really looking forward to tomorrow as it won't be as miserable as today and gives me a whole new day to think of ways to make some money (or at least list several books etc. somewhere).

Thanks for the support NP.

Floxxie

Floxxie

Well have finally hit the target with payments from MBing and Amazon. Yes I know I wasn't going to do any MBing until later in the year but had a free bet that needed placing and the Man U/Derby match last night provided the incentive. I've also got one settling tonight but then I shall definitely stop as I have to get on with eBaying.

Will now add any further monies to a savings 'pot' ready to pay off the 'overdraft' when I transfer the funds out for the ISAs. The way I do things probably doesn't make much sense to the more organised people but it works for me and has the same result (or should have as long as I actually do the work to get there!)

Total overpaid so far: £224.81

SmlSave

:T Congratulations :T

StuartGMC

Floxxie
Good to hear of the progress

Floxxie

Thank you for your support

I have to keep quiet about my mortgage reducing aims with friends now so this is the only place I can be open. It's great to be surrounded by like minded people.

And I hope I can prove that you don't need to be working or have plenty of money to make a difference to the mortgage debt (of course I would much prefer to have these!)

Floxxie

Floxxie

Match bet settled so that's another £46.50 which takes me over my January target. Very pleased with how it is going so far especially as I haven't done much 'work' yet. Just thinking how much I could bring in if I tried harder!

Off to post a book sold on Amazon and do a MS at lunch. Will put some more books on Amazon, eBay and GreenMet tonight. I would like to see if I can bring in another £100 before the end of the month.

Couldn't resist having a quick look at the mortgage balance and it is at the £84,100 mark. Another £500 was paid onto it yesterday from the Natwest savings account and we are waiting for a cheque for £300 for share options that we didn't take up (not surprising the actual share price is half of what the option price was :eek:) so that will also go onto the mortgage.

Have placed the £46.50 into a savings pot; I still plan to pay off the interest charged direct onto the mortgage and then anything extra will pay off the overdraft caused by the ISA money transfer.(I know it sounds very confusing, fingers crossed it isn't!)

Total so far: £271.31

setmefree2

StuartGMC wrote: »

Floxxie
Good to hear of the progress

:T:T:T

nattypants

Wow!! Floxxie well done on the overpaying - absolutely fantastic:T
I must must MUST get my !!! in gear regarding ebay so will pop across to your thread on the DFW board :j

Speak to you soon no doubt and WELL DONE YOU:T:T:T:T:T:T

NP:cheesy:

nattypants

Oooh - didn't know you can't say a*s on the boards....whoops:o