My story - determined

determined1_2

Whoo hooo :T

Just rang up Halifax

Current balance (todays payments clear tomorrow and backdated) £136,927.56
Normal payment made today (£790.43)
Overpayment made today (£1,137.13)

New balance £135,000 exactly I got it right

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

Apr 09: £1,137.13/£4,970.81/38,188.22/58
Mar 09: £1,000/£4,588.67/£33,209.26/50
Feb 09: £740/£3,538.81/£28,620.59/43
Jan 09: £2,030/£10,364.53/£25,081.78/37
Dec 08: £2,380/£13,508.64/£14,717.25/22
Nov 08: £100/£605.23/£1,208.61/2
Oct 08: £100/£603.28/£603.28/1


Signiture updated and feeling good :T :T :T

twinklie

WOW! Your amazing. I wish I could do that. However, given we are in the process (long though it may be) of increasing our mortgage so that we can get a bigger house, it's going the opposite way. Boo.

Still you are an example to us all. Keep up the good work.

Lister_2

Fantastic progress mate! Congrats! :beer:

Can't believe how quickly you're romping it off! Think I'm gonna have my work cut out to catch you up.

ps. Maybe you could colour code the figures in your monthly rundown to make em easier to read.

StuartGMC

Great progress and major OP amounts, go have a beer :beer:

determined1_2

twinklie wrote: »

WOW! Your amazing. I wish I could do that. However, given we are in the process (long though it may be) of increasing our mortgage so that we can get a bigger house, it's going the opposite way. Boo.

Still you are an example to us all. Keep up the good work.

Thanks twinkle. I think it needs to be remembered that everyone is in a different position and have their own goals, ambitions, responsibilities, etc.

Bet you can't w8 to start making those OPs

determined1_2

Lister wrote: »

Fantastic progress mate! Congrats! :beer:

Can't believe how quickly you're romping it off! Think I'm gonna have my work cut out to catch you up.

ps. Maybe you could colour code the figures in your monthly rundown to make em easier to read.

Thanks Lister. The OPs are going to slow down over the next couple of months as will be going on hols in May and have some household expenditure to deal with before 0% CC runs out. May let matched betting pay for the holiday. As you know :beer:

setmefree2

well done on all your progress :T:T:T

determined1_2

Little bit more good news!!!

Me and DGF both have a sole account and a joint account with the halifax and have just converted them to reward current accounts. This means that if each account is funded with at least £1k a month, you get £5 in each account instead on any interest. My salary goes into in my account and that fulfills the £1k requirement. DGF doesn't quite earn that much so doesn't reach the £1k mark.

So, to meet the requirements for the joint account, we just transfer our salaries over from our sole accounts.

Then to make the £1k on DGF, just transfer a little over, leave it there overnight and transfer back the following day.

Nice and simple, just circulate a bit of money for an extra £15 a month

determined1_2

Also just calculated my monthly take home salary will go up by £9.90 a month because we're in a new tax year. Not much, but every little helps:rotfl:

determined1_2

Hi everyone :hello:

I haven't given much of any updates over the last month. Seemed to have turned into a bit of a lurker

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

May 09: £490.93/£2,065.86/£40,254.08/61
Apr 09: £1,137.13/£4,970.81/£38,188.22/58
Mar 09: £1,000/£4,588.67/£33,209.26/50
Feb 09: £740/£3,538.81/£28,620.59/43
Jan 09: £2,030/£10,364.53/£25,081.78/37
Dec 08: £2,380/£13,508.64/£14,717.25/22
Nov 08: £100/£605.23/£1,208.61/2
Oct 08: £100/£603.28/£603.28/1

Colour coding suggested by Lister :beer: Let me know if they don't contrast etc as I'm colour blind (don't think you can say that anymore :rotfl:).

You probably noticed I have a very round balance again (see sig) :rotfl:I can see me becoming obsessed with this. Feels good to be able to project the interest to gauge the exact payment that is needed :rolleyes: Oh I love these speadsheets. (we all seem to on here)

OP quite a bit less than normal as I'm having to pay off my decorating/renovating expenditure on my CC. This is in the tune of £700 so I have split it over May and June. Had to do this as the interest free period runs out on 06.06.09 :mad: Also got MOT and service in June so the OP will be lower next month!

Some good news:
Sofa has arrive (all paid for by MBing). On interest free of course, money in my account
Lounge will be finished off this weekend (finally)
Not in the office for 2 weeks. Away at study next week and then on sunny hols at centre parcs. (again paid for my MBing )

Back to the mortgage. In post #53 I set a goal of acheiving a sub £130k balance by my b.day (17.11). To achieive this, I needed to make an OP of £850 on 1st apr/may/june/july/aug/sept I will have a balance at 1 nov of £129,920.52. (oct and nov will be used to pay back some stoozed cash).

Doing a projection now, will an OP of £400 next month, I will need to OP by £1k on 1st july/aug/sept. This will be quite a challenge but that's what it is there for. Bear in mind, these OPs are more than what the DGF take home pay is each month.

I do, however have a couple of tricks up my sleeve. Since we moved in, we've been very frugle with gas/lecy and water. According to my spreadsheet (yes), The utility companies owe us in total £230 (as at today). The in/out water balance will probably roll over, but the gas/lecy (both with B.G) should provide some cash. BG insist on having a credit balance of £200 with them before they give you a refund. I have projected that with current usage, after our end of june bill, and 1st july DDs, we will have this £200 over the two accounts. I'm hoping I can then get this money back to me and throw it at the mortgage. A few more tricks, but I'll keep them a surprise



Well done everyone on your progress, I have been lurking on your diaries :rotfl: