new mfw

chirpchirp

Yes, I noticed we had similar targets too. Both are high but I know mine are ambitious as they are based on the interest rates staying low. I don't know how to subscribe to threads so I just pop in lots and read through as many posts as possible.

SOandSO

Morning

Popping in lots is something I do quite a lot of as well but I worked out how to subscribe - when you are logged on, press thread tools in the green banner at the top of the page and it offers subscribe. I thought I'd try it in case the initial enthusiasm wears off a bit and we all end up on page 5 or further.

gallygirl

chirpchirp wrote: »

I don't know how to subscribe to threads so I just pop in lots and read through as many posts as possible.

At the top of the thread there is a drop down menu called Thread Tools. Click on that and you will see an option called Subscribe to this Thread. Click on that. Next time you log on & go to Forums under the green bar which starts Main Site there is a User CP (control panel) option. Click on that and it shows all threads you are subscribed to which have been updated since you last logged in &/or clicked on User CP. Simples

Welcome to all you new people:hello:

Edit: Oops, crossed post

chirpchirp

I increased my direct debit to £1400 earlier in the month. This means that I'm now paying my mortgage as though it's a repayment mortgage with about £100 overpayment included. I'm also putting £300 towards the stocks and shares ISA which is supposed to cover the mortgage but has a huge shortfall on it. Besides this I'm putting money into regular savers rather than straight off the mortgage where I can earn more interest.

To summarise this months "overpayment" has gone out and it was for £1104.29. Making a total of £3948.64 in overpayments this year ( not including ISA contributions or regular savings)

StuartGMC

Fantastic numbers - well done.

BTW - you asked about tracking your actual gain/loss on funds etc. Since I replied, I've set up on http://www.morningstar.co.uk the portfolio and it will allow you to easily add units as you buy them each month and gives your position since purchase. Hope that'll help you a little.

chirpchirp

Thanks Stuart.

Next update is that the money has left the current account to go to the regular savers. Although these are regular savings acccounts I have been altering the amounts I put in each month. This month I have managed another £750. As well as this £300 has gone into the ISA S&S ( which is what is supposed to be covering the mortgage - hahah!)

This regular saver money is being put aside to pay off the mortgage when interest rates change but I'm not counting it against the mortgage when I put overpayments on this thread or on the challenges as whilst it is accessible it is always possible the money may be used for something such as a new car.

My emergency fund is really only the money in my ISA and I'd rather not touch this if at all possible as I don't want to lose the tax benefits in later years. However, there is a side of me that says I'm not just saving for the sake of it, this money should be spent at some point in the future as it's not use to me dead ( although I would like to leave some inheritance for my children but I figure that will be the house!).

I don't think I need a huge emergency fund at the moment as my money comes from different sources but this will be important for me to build up in a few years time but for now my ISA will hopefully be enough.

chirpchirp

I have just started my Christmas shopping and bought only 4 presents which totalled £142! However, I was able to pay for all of it using nectar points.

Unfortunately, today's charity events have wiped me out. Seems my school were too enthusiastic to charge teachers!

setmefree2

chirpchirp wrote: »

I have just started my Christmas shopping and bought only 4 presents which totalled £142! However, I was able to pay for all of it using nectar points.

Nice one :T:T I love nectar points.

chirpchirp

£1105.66 by my calculation should have gone into the mortgage as an overpayment today. Making a total of £5054.30 paid off this year. I'm still putting money into the S&S ISA at £300 a month.

This month seems to have had lots of expenses, mainly school type things such as dinner monies for the term. Daughter is no longer having a tutor so this will hopefully save about £100 a month. I'm hoping that I can keep to my monthly budget with Christmas present shopping.

chirpchirp

I've just updated sig, after having deleted it due to posting in another forum, which isn't quite as friendly as this one! Sig isn't as accurate as it used to be as I haven't kept the details, unless it's near the beginning of this thread.

On the 1st December I paid £750 into regular savings, hoping to keep this amount going throughout the following year. However, it is possible that this will go down after April when my working tax will be recalculated due to me now working full time. In fact I may end up paying them money!