My story - determined

uzubairu

determined1 wrote: »

Progress is feeling slow but it's progress none the less.

Determined

Don't be harsh on yourself.

In less than a year you have reduced your mortgage by nearly £12,000. :beer:
Keep up the good work, you are steadily moving in the right direction.

chirpchirp

Well done Determined. It does feel slow though doesn't it. As lots of people have put on here before, it's a marathon not a sprint. Console yourself with the fact that you'll be done with your mortgage a long time before me.

black_taxi_2

right direction is all that matters:beer:

pammyj74

determined1 wrote: »

Anyone agree I should post my stats for a rolling previous 12 months?

Determined

I would say 12 months like you have but also after a line break maybe have your first 08 line to show just how far you have come?

Cant believe your daily interest at the moment!
Well done on your amazing progress.

determined1_2

pammyj74 wrote: »

I would say 12 months like you have but also after a line break maybe have your first 08 line to show just how far you have come?

Noted - will do from next month

pammyj74 wrote: »

Cant believe your daily interest at the moment!

Pretty depressing



Progress over the next three/four months is going to be minimal:

1. have to pay for holiday over next two months
2. have to pay for new bed over next two months
3. buildings and contents insurance next month - somehow I completely forgot about this!!!
4. car service and MOT in june
5. Holiday in July so will need some spending money.

Only overpayments are going to come from me upping the standard payment

To cover points 3/4 above may have to dip into saving and replenish in July so no noticable progress until August :(:(:(

I set a target of £121,500 by 01 June which I won't hit without dipping into savings - which would obviously was not part of the plan. Ohhh pooooop

Or perhaps I can come up with a master scheme ............................. :think:

pammyj74

I know how you feel, I have my car tax next month and to pay for my accounting membership and exams and may have to dig into savings, It is such an obsession to OP and I would be so depressed and anxious if I could not OP something! Its mad!

black_taxi_2

main thing is your not borrowing more===so dont be to hard on yourselfs

uzubairu

It's really not that bad.
You've got a well earned holiday to look forward to in 3 months time.
Your progress so far is something to be proud of, since you have a sensible head on such young shoulders.

Imagine my surprise when I took my car for it's MOT last week and it failed, when I thought it would sail through. :eek:
It needed £320 to put right (2 new tyres and bulb, wipers and plates).
These things are sent to test us, but it's all part of the journey to mortgage freedom.

We save a set amount each month to pay for holidays each year. This money covers spends as well. So when we see the holiday deal we want we pay with a credit card that has loyalty scheme and then use funds from this account to to clear the balance immediately.
We save an amount that covers 1 nice or 2 cheap holidays per year, and sometimes we don't even use even use half the budget because we get really good last minute deals or use Tesco Clubcard Deals vouchers to pay for holidays.
We went to Egypt in February paid in full with vouchers, and I recently exchanged some Clubcard vouchers for 30,000 Airmiles (so that should cover a few more flights/holidays)

I have my payments from Cashback sites going into a separate account account which so far has taken care of my car insurance (Nov £430), road tax (March £130) and MOT (April £290).
Cashback savings account is now empty thanks to MOT failure , but I currently have £122 of validated cashbacks , so hopefully I can build it up again before I need to renew my insurance.

Glamazon

don't be so hard on yourself! you have done a really good job paying off so much. :T

We all need a break:T & I would rather have a wek or 2 off sunshine & relaxing especially if I'd paid of so much.

I've added the daily interest into my spreadsheet as had forgotten til I read your thread

Mine's £21.43 :eek:

determined1_2

Serious lack of updates lately. Have been extremely busy at work at have had another two professional accountancy exams to study for!!

Rolling 12 month basis below so the post isn't massive. Total analysis in post #1 in anyone is interested.

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).

July 10: £120,9000.00/£377.79/£1,006.64/£76,505.00/120
June 10: £121,500.00/£299.15/£810.93/£75,498.36/119
May 10: £122,000.00/£433.17/£1,195.04/£74,687.43/117
Apr 10: £122,650.00/£807.11/£2,284.25/£73,492.39/115
Mar 10: £123,649.99/£502.57/£1,460.83/£71,208.14/111
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

Daily interest below. Each goes from 2nd of previous month to first of the month stated. E.g. £18.94 was for 02.06.10 - 01.07.10

July 10: £18.94
June 10: £19.02
May 10: £19.12
Apr 10: £19.28
Mar 10: £19.39
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


Overpayments lower than I would like but:

• service and MOT last month - £230
• car broke down - £120
• new bed - £708
• Holiday - £300
• Bolier broke - £12 :rotfl:

Really hope to get back on track with some larger OPs from 1 August.......

Met my target of £121.5k by 01.06.2010 so that's good.

Need to set a new one now.....................maybe £115k by the new year