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My story - determined

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  • StuartGMC
    StuartGMC Posts: 2,175 Forumite
    Stuart - thanks for your comments. I agree it's best to set a goal that is achievable, but also at a challenge. I've currently got a budgeting process in place that has seemed to work well for the past 6 or so months. I simply have my balance at the start of the month, take off any budgeted expenses, leave a buffer and the the remainder goes as an overpayments rounded to the nearest £10 or so.

    I think you will be able to up-your-game further if you move on to a spreadsheet which captures your annual position both in real time (spend on petrol, car maintenance, groceries etc) plus known annual costs such as annual direct debits for insurance etc. My own household budgeting spreadsheet allows consideration of these aspects and shows the "real" position for income and expenditure (bills inc mortgage, OP, investments, savings target etc), so it may help to improve on your month by month approach. Anyway, PM me your e-mail address if you want a copy, I've sent it to a number of other MFW here as per my thread. If nothing else it may give you one or two ideas to modify on your own spreadsheet?
  • Lister_2
    Lister_2 Posts: 403 Forumite
    I've also been considering withdrawing some funds from my match betting float to hit the £135k mark next month (Balance not £137,459.47 as per signiture, waiting for online balance to sort itself out. Will edit when done). Would mean taking about £400 of this out. Bit hesitant to do this as this money (£1,100 of mine plus ~£1,400 profit btw) is working quite hard for me at the mo (see signiture :cool: )
    I'd leave it until after Cheltenham at least. Sounds like we'll need all the float we can get! :D
  • StuartGMC wrote: »
    I think you will be able to up-your-game further if you move on to a spreadsheet which captures your annual position both in real time (spend on petrol, car maintenance, groceries etc) plus known annual costs such as annual direct debits for insurance etc. My own household budgeting spreadsheet allows consideration of these aspects and shows the "real" position for income and expenditure (bills inc mortgage, OP, investments, savings target etc), so it may help to improve on your month by month approach. Anyway, PM me your e-mail address if you want a copy, I've sent it to a number of other MFW here as per my thread. If nothing else it may give you one or two ideas to modify on your own spreadsheet?

    Hi Stuart

    I've currently got a spreadsheet drawn up that tracks my budget vs actual that includes all of my monthly X's. Not used it for a year yet but like your idea about tracking on a rolling annual basis.

    I've PMd you my email addy as yours may give me some good ideas to add to mine.

    thanks
    Mortgage started May 08 @ £144,499 for 35 yrs:eek: Must get mortgage sub £100k by xmas 2011

    Current balance/total OPs/total interest saved/months saved
    £111,000.00/£27,336.40/£96,025.57/156
  • Lister wrote: »
    I'd leave it until after Cheltenham at least. Sounds like we'll need all the float we can get! :D

    Hi Lister

    Don't think I'm going to be able to take full advantage of the cheltenham offers as I'm at work 9 - 17:30 and cannot place any bets at work. I've also never placed a bet on horses and you could potentially need a float of £6k to meet all the SNR freebies :eek:

    I'm going to buy a racing post on sat and see what offers are about. May be able to take advantage of maybe one and then do another at ascot maybe.

    What are your plans???

    cheers
    Mortgage started May 08 @ £144,499 for 35 yrs:eek: Must get mortgage sub £100k by xmas 2011

    Current balance/total OPs/total interest saved/months saved
    £111,000.00/£27,336.40/£96,025.57/156
  • My balance has now sorted itself out online and I now owe £136,269.03!

    Had a moment of reflection and that is a reduction of £8,229.97 since 16 May 08 :T

    This does include £2,860 of stoozed money, but that still equates to a reduction of £5,369.97!

    On a more negative note, I've paid interest of £6,404.94 :mad:

    Standard payments so far total £8,284.88

    If I hadn't overpaid, my current balance would be £142,678.68 :eek: and Halifax think the house is only worth £141k :mad: Good job I've overpaid.

    This shows had I not overpaid, the capital reduction from the standard payments of £8,284.88 would only have been £1,820.32.

    Hmmmmm, I think it's good to have these reflections every now and then.

    Bring on more OPs :D
    Mortgage started May 08 @ £144,499 for 35 yrs:eek: Must get mortgage sub £100k by xmas 2011

    Current balance/total OPs/total interest saved/months saved
    £111,000.00/£27,336.40/£96,025.57/156
  • StuartGMC
    StuartGMC Posts: 2,175 Forumite
    D1
    Have e-mailed the spreadsheet so hope it gives you some ideas etc.

    Regarding the comment on reflecting on progress, this is very important as you've shown because it allows you to see the "gain" from your activities which can sometimes be difficult to see when looking at the mortgage capital outstanding alone. Well done on the progress.
  • Thanks Stuart

    At a first look it appears vast! Will have play around when I got a bit more time.

    cheers
    Mortgage started May 08 @ £144,499 for 35 yrs:eek: Must get mortgage sub £100k by xmas 2011

    Current balance/total OPs/total interest saved/months saved
    £111,000.00/£27,336.40/£96,025.57/156
  • setmefree2
    setmefree2 Posts: 9,072 Forumite
    Mortgage-free Glee!
    yay.gif well done on your progress :j
  • Welshlassie
    Welshlassie Posts: 1,731 Forumite
    Part of the Furniture Combo Breaker
    Thanks Stuart

    At a first look it appears vast! Will have play around when I got a bit more time.

    cheers

    I thought the same when I first saw it, but have been using it now for 8 months and it has made my life so much easier. I've even had a fiddle and added extra pages and formula, never throught I coul have so much fun with a spreadsheet.:p

    Well done on your progress to date, it really is worth while reflecting on where you have come from, it can seem a bit pointless sometimes as it is over such a long timeframe. :T
  • StuartGMC
    StuartGMC Posts: 2,175 Forumite
    I thought the same when I first saw it, but have been using it now for 8 months and it has made my life so much easier. I've even had a fiddle and added extra pages and formula, never throught I coul have so much fun with a spreadsheet.:p

    Good to hear you are still actively using, and thanks for your input too. It's nice to think that something which "grew" with my own requirements is helping others too, maybe that's my legacy!

    Tombstone...
    "Here lies Stuart, his spreadsheet helped others, especially cell K23" :rotfl::rotfl::rotfl:
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