2009 New Years Resolution-MFW Diary

gallygirl

Tesco_points_addict wrote: »

So, bear with me...£45,235.06 divided (wheres the symbol) 38 (months remaining until D day) = £1,190.40 minus the capital repayments we make of £381, I think we need to save an average of £809.40 per month.



TPAx

As Taka has pointed out, your £381 will actually rise each month, so your £809 is actually slightly higher than needs be . Have you tried www.whatsthecost.com - that will show you accurately how much interest you pay off each month and you can also play with various monthly OP's to see the impact. (This site is particularly good for anyone with more than 1 mortgage or extra loans etc. - it assumes you will carry on paying the same each month once loan no. 1 paid off etc. so you can see the effect of 'snowballing' your debt repayments :T).

Working out the monthly additional sum as you have done makes it all appear very manageable. I too spent ages puzzling over whether I had got the sums right

Tesco_points_addict wrote: »

I'm so excited I love a challenge, seeing it all down in black and white has even got hubby motivated, for now anyway! (hubby has a spreadsheet with the savings on - are you impressed 'The Spreadsheet Three'?):D

Off to update sig for this month, will have to think how best to express my intentions as from next month (in my sig) any ideas for my 36 month countdown expression?

TPAx

Re sig, I would just say on course or not on course. For my own purposes I have a spreadsheet (what a surprise) which compares progress to target and I have graphed it so I can see the end game. At the mo it says I am 10k short of achieving paying off all mortgages by 55, but I know better than it does

I also drew a little house on excel, using borders etc,. and coloured it in. I numbered each square from the top down to show how many 000's were left (160 at the start :eek:). Each month I update it and change the number to date paid off. Have done the steps and almost completed 1st row of bricks

Hope this helps.

gg

Tesco_points_addict

Thanks so much both (I'm amazed anyone actual read my post until the end!) As long as the difference is in my favour i'm happy:rotfl:

I tried to download the spreadsheet that taka suggested but it dodn't work:mad: It may be because my internet connection is so slow:mad:.

The best thing about this is hubby has stopped moaning about having an extension (his wish to have one, I'm to tight to pay for one!) and seems as excited as me to be rid of the mortage A.S.A.P. As I didn't buy my first house until I was 30 years old (when hubby - then my other half still lived with his Mar n Par,)I would be so proud for us both to be all paid up by the time I'M 40:o.:T

Just returned from a 'mystery shop' ie free lunch, food great but took over an hour for it to arrive!! Ah well free food and a pint of lager I shouldn't complain.:D

TPAx

Dinah93

It's your job to complain! Just do it on your report not in person

You're doing amazingly well TPA, me and NIM have been reading with interest and astonishement, keep up the good work x

Tesco_points_addict

Dinah...Wow I cannot believe it, you are on my thread!! Thank you for the support, you and NIM have been an insperation x:A

The trouble with me is I keep moving the goal posts!:rolleyes:

I have commented in my report but free dinner is always a bonus especially when it comes with lager!:D


TPAx

SmlSave

I would be so proud for us both to be all paid up by the time I'M 40

I'm looking forward to an invite to the biggest birthday bash ever - a MF40th do!

Well done on getting your OH on side and working all those figures out!

Tesco_points_addict

SmlSave wrote: »

I'm looking forward to an invite to the biggest birthday bash ever - a MF40th do!

Well done on getting your OH on side and working all those figures out!

It would just have to be you lot as I would be to embarressed to admit in public to my friends (and family would be scavaging) can you imagine, lucky so n so's, how did they manage that- win the lottery...er no blooming hard work thanks! I think only you lot would understand!:o

TPAx

PS, not saying that you are not all friends!! Just ground friends and cyber friends - the best type - they/you don't judge!

SmlSave

I know what you mean. People look at you werid if you say you're trying to pay off your mortgage

Tesco_points_addict

Sorry for neglecting you all, I've been very busy, earning money:j

Bad news today, I must have my hair cut (its been about 4 months since the last one I think) I am going to have it highlighted to, so a trip to the cash point is called for. I hate withdrawing money:mad:, I think this might be the first time I've made a cash withdrawel since January.

Just had the house insurance renewel so must get some quotes and see what I can get from Topcash Back or Quidco.

Mystery shopping still going strong, got a fair few lined up for the next few weeks.:j

TPAx

Tesco_points_addict

No messages for a couple of days, then two come along at once!

Just logged on to banking, I've had my first 'Mystery Shop' payment..all £19 of it:rotfl::T. Lots more to follow..hopefully.

TPAx

SmlSave

I've had my first 'Mystery Shop' payment..all £19 of it

Yay! :T You're on your way to riches....