RosieTiger MFI5 Challenge

StuartGMC

Rosie
Excellent that the "error" was in your favour then. Do remember to enjoy time with family along the way.

RosieTiger

Stuart, I agree. It's not our intention to get obsessive, we do have some bonuses coming our way this year, but the £1,100 is what we plan to stick to barring another interest rate change !

RosieTiger

Latest OP of £1,100 and managed to half our telephone DD today !

Big bits and small bits - they all count.

setmefree2

RosieTiger wrote: »

Latest OP of £1,100 and managed to half our telephone DD today !

Big bits and small bits - they all count.

Fantastic - well done

RosieTiger

I an feeling very pleased just now following a telephone conversation with a friend whi i convinced to use the rate drops as a means of starting to OP. They have convinced another of theor friends to do the same - so it's catching !

Took some advice from another posting and used their idea to put togther a mortgage calculation sheet which provides me with August 2015 as the target date based on current OP's.

Fascinating looking at the effect of the numbers and having the ability to see my target figures set to a calendar.

Latest interest rate cut will again be transferred straight into the OP.

I intend to check the the excat figure with C&G every quarter, but by my sheet we will be at just over £140K at month end.:T

Good luck to everyone else on the journey, I really enjoy the encouragement your stories provide !

StuartGMC

Good to hear of the encouragement to others. Keep going hard at this as rates and inflation may well go up in 2010

gallygirl

RosieTiger wrote: »

I an feeling very pleased just now following a telephone conversation with a friend whi i convinced to use the rate drops as a means of starting to OP. They have convinced another of theor friends to do the same - so it's catching !

I wish it would work with some of my friends - I've stopped talking about it now as they think I'm barking/showing off. Now doubt when mortgage is paid off I'll be told 'you're so lucky' :rolleyes:

RosieTiger wrote: »

Fascinating looking at the effect of the numbers and having the ability to see my target figures set to a calendar.

:rotfl::rotfl::rotfl::rotfl:warning - what starts off as fascinating quickly becomes addictive - we've got you now :rotfl::rotfl::rotfl::rotfl:

Great to be making OP's the mo as the interest rate being so low means the capital is really getting whacked. The challenge will be when rates start to rise and all our projected MF dates start slipping - no doubt we'll somehow find the extra to remain the same :T.

StuartGMC

gallygirl wrote: »

I wish it would work with some of my friends - I've stopped talking about it now as they think I'm barking/showing off. Now doubt when mortgage is paid off I'll be told 'you're so lucky' :rolleyes:

More likely it will be comments that you're so lucky to afford your new lifestyle... no consideration to the idea you will have paid off the mortgage!

:rotfl::rotfl::rotfl::rotfl:warning - what starts off as fascinating quickly becomes addictive - we've got you now :rotfl::rotfl::rotfl::rotfl:

...and I am now concerned about how I'll get my fix after October (Well, actually, I think the monitoring of expenditure and performance of savings and investments will save me from that "problem" )

Great to be making OP's the mo as the interest rate being so low means the capital is really getting whacked. The challenge will be when rates start to rise and all our projected MF dates start slipping - no doubt we'll somehow find the extra to remain the same :T.

It may well be difficult; for us it is the opposite. Starting in 1994 at 8% interest rates which then went up, plus birth of daughter in 1997 and part-time working by OH thereafter. Now with rates having fallen so much in the last several years it has accelerated the MFD.

Very best wishes to you all who have a mortgage running for the next few years, just remember how much you are improving the situation by OP now, even if later the MFD slips somewhat, because your minimum payment will still be manageable.

RosieTiger

We really appreciate your support and encouragement, I think it's our duty now to try and get others to see "sense".

The number of times I have read posts which made reference to recognising the mortgage as debt or just another loan was what finally caught my attention. Then seeing it in spreadsheet form is pretty scary, but offers an incredible incentive once it OP's are included.

I confess I am addicted and you have got me !

Radish72

Hi Rosie
Congrats on all that you have done so far
I can't believe how addicted all this has become