The Mortgage Free in Three - Take 2 challenge (MFiT-T2)

mrs_deadline

loopy-juice wrote: »

FB. My % will be around the 7% a yellow. Could you have an add on to the sheet that shows how much you underpaid and how much to get back on track?

Nice idea loopy-juice. I'll be trailing behind the target amounts for most of the challenge I fear (only at 5% for the first update). Various reasons, the main one being we need to rebuild our savings cushion before overpaying loads. We've set up regular savers to do this, which we anticipate using to OP in due course. Still 100% committed to clearing it within the time frame, just not in a totally linear fashion. So a record of the running shortfall would spice up the chart nicely from our point of view.

brizzledfw

very excited FB to see my statement in green..you're right its a huge motivator..thanks for all your work on this

Best of luck everyone

financialbliss

loopy-juice wrote: »

FB. My % will be around the 7% a yellow. Could you have an add on to the sheet that shows how much you underpaid and how much to get back on track?

Loopy-juice,
Nice idea. I've had a quick go, first in Excel, then in the Google spreadsheet on a temporary sheet creating a 'Shortfall' column.

If you have not hit X /12th's of your goal, where X is replaced by the chart number, it should calculate the extra you need to get back on track, ie into the green. Needs a bit more work, but I don't see any reason why this can't be added in time for Chart 01.

Good news - I have logged/processed 68 updates, which is roughly a third of the challengers so far. Keep the updates coming through and if you can't get the form update to work for some reason, please send a PM.

Finally, my own mortgage payments for March cleared today, and I'm using today's balance for the chart. I'm in the yellow banding, ie a bit behind in case anyone thinks I'm going to sail straight through this!

FB.

loopy-juice

FB. You are The Man!

loopy-juice

Know your neighbour.

I am 195 my neighbours are 194 Little Fred 169 and 196 Daisy Duck.

How yowl all doing neighbours...................

loopy-juice

The road is long, with many a winding turn, that leads us to who knows where, who knows when.......

setmefree2

Hi FB

I have updated using google docs. It was in English:D Our balance will be £91407 by the 14th.

Thanks:T:T:T:T:T

Optimisticpair

re we updated docs for us No 95

financialbliss wrote: »

I've not spotted that come through on the updates sheet that it should write to. Could you have another go when you get a moment.

Thanks,
FB

Right ho.
I've uploaded again a moment ago.

Original figure was £74, 349.00 1 November 2008
Start figure was 71,160 on 31 October 2009

Estimated figure for March 2010 is £70,500.00

Target of 68k by 31October 2010
Target by end October 2011 65k
Target by end October 2012 62k

Courgette

Just updated - I'm at £21,421 - woo hoo! :j

financialbliss

loopy-juice wrote: »

FB. My % will be around the 7% a yellow. Could you have an add on to the sheet that shows how much you underpaid and how much to get back on track?

Loopy-juice / all,

Alteration to Chart 01 now done. We now have 6 columns:

Starting amount, current chart date, pledged reduction, repaid, the new column "shortfall" and the coloured percentage column.

So, looking at Chart 01, which I've adjusted my own balance as an example:
http://spreadsheets.google.com/pub?key=tks17oKUg5u0jJOsscg4G1Q&single=true&gid=2&output=html

I need to reduce my balance by £48,383 / 12 ie £4,032 (rounded) to keep to on target / in the green zone.

Setting a repayment of £1,532, that means I'm £4,032 - £1,532 ie £2,500 short of being on track. This shorfall is now shown in the, you guessed it "Shortfall" column.

Similarly, I've set Maz to have paid off £2,250, thus she is ahead of schedule, thus the shortfall column is blank.

Hope that helps with the numbers...

Financial Bliss / Maz123.