My story - determined

Queen-Bee_2

Wow... well done. Everyone knows these exams are a nightmare!!
QB

determined1_2

Gorgeous_George wrote: »

Hi

Far too many posts to read them all so I read the first two and the last two (;)).

Firstly, congratulations on passing the exams.

Secondly, from the first posts you seem to be worried about the total amount of interest that you will pay. I think you need to consider net present value (NPV). Scrimping now may mean less holidays, less fun, less living. Life is about balance - who knows what is around the corner for any of us?

Don't forget to enjoy life.

But keep up the good work - if you are sure that you arekeeping the overpayment/life balance to your satisfaction.

GG

thanks for all on congrats guys.

GG - the interst saved stats is the key to my motivation. I appreciate that I will never be given this and also the affects of the time value of money.

Re work/life balance - I'm content with this. Never had flashy holidays and such. OH and I have a couple of weeks away and the ocassional treat every now and then. I work to live, not live to work

A treat all the time no longer becomes a treat.

thanks

uzubairu

determined1 wrote: »

woohooo I passed both exams.

55% mark required

Audit and assurance paper - 77% was really worried about this one

Financial Accounting paper - 93% highest in my region!

woop woop - i'm still employed

Well done!

You can make that overpayment now.

I would agree that you should balance treats with your hard work, because you have worked very hard over the last 12 months and you never know what's around the corner.

Treats don't have to extravagant or wasteful.
We're going to Egypt in 10 days time and it has been paid for with Clubcard vouchers.

twinklie

Smartypants!

StuartGMC

D1
Well done on those results and I hope future exams match up to this.

I agree with the life balance with OP etc and you seem to have this in hand. :T

setmefree2

determined1 wrote: »

woohooo I passed both exams.

55% mark required

Audit and assurance paper - 77% was really worried about this one

Financial Accounting paper - 93% highest in my region!

woop woop - i'm still employed

SmlSave

gallygirl

swotbag!

well done :beer:

determined1_2

Bit of a late update - but better late than never!

Stats below for balance, overpayment made, "interest saved" that month, "interest saved" to date, and months taken off (denoted as balance/OP/interest saved that month/total interest saved/months saved).

Feb 10: £124,400.00/£413.64/£1,226.91/£69,747.31/109
Jan 10: £125,000.00/£768.24/£2,337.67/£68,520.40/107
Dec 09: £125,950.00/£1,154.91/£3,649.15/£66,182.73/103
Nov 09: £127,300.00/£1,030.56/£3,396.93/£62,533.58/97
Oct 09: £128,500.00/£714.74/£2,441.85/£59,136.65/91
Sept 09: £129,400.00/£940.22/£3,324.76/£56,694.80/87
Aug 09: £130,500.00/£845.05/£3,103.05/£53,370.04/82
July 09: £131,499.99/£1,532.51/£5,910.43/£50,266.99/77
June 09: £133,200.00/£1,008.83/£4,102.48/£44,356.56/67
May 09: £134,250.00/£490.93/£2,065.86/£40,254.08/61
Apr 09: £135,000.00/£1,137.13/£4,970.81/£38,188.22/58
Mar 09: £136,269.03/£1,000/£4,588.67/£33,209.26/50
Feb 09: £137,459.47/£740/£3,538.81/£28,620.59/43
Jan 09: £138,323.21/£2,030/£10,364.53/£25,081.78/37
Dec 08: £140,466.66/£2,380/£13,508.64/£14,717.25/22
Nov 08: £142,970.30/£100/£605.23/£1,208.61/2
Oct 08: £143,170.74/£100/£603.28/£603.28/1

Daily interest below. Each goes from 2nd of previous month to first of the month stated. E.g. £19.63 was for 02.01.10 - 01.02.10

Feb 10: £19.49
Jan 10: £19.63
Dec 09: £19.84
Nov 09: £20.03
Oct 09: £20.17
Sept 09: £20.34
Aug 09: £20.50
July 09: £20.76
June 09: £20.94
May 09: £21.05
Apr 09: £21.24
Mar 09: £21.43
Feb 09: £21.56
Jan 09: £21.84
Dec 08: £22.23
Nov 08: £22.26
Oct 08: £22.29

Have a holiday and new bed to pay for so the OPs are going to drop back a bit over the next few months. So.............

New target of £121,500 by 1 June 2010

Queen-Bee_2

Hi Determined - congratulations on your updates and good luck on your new target!

I wondered how you have managed to work out the total interest saved and months saved??

I know that by shortening my mortgage term (on a temporary basis) I have been able to make massive overpayments against my original repayment schedule, but I've not been successful in my quest to track down something which models it..
QB