Mortgage Reduction Beginner to Novice - The Show Begins

Lois_E

I agree with milkybars. It's the details that make me feel the progress and motivate me to keep plugging away. I also like graphs. I have a main one that shows me how my total borrowing is slowly coming down towards 0 over years and years, but also a close up of the current bit of it, so every little bit shows up on the graph and I can see the next little milestone coming a bit nearer each time.

Radish72

:j Fantastic stats, take a bow MRN and have a huge round of applause :T

I took my diary 1 year at a time, set a goal and then went for it, granted it was only a small mortgage

Mortgage_Reduction_Novice

Hi all,

Thanks for perking me up yesterday, I was being too harsh on myself. I did indeed have a spreadsheet session yesterday:

In a years time, I'll be able to go onto direct debits to pay off my student loan so it'll be paid off quicker and not taken straight out of my salary.

We actually owe £2k less than I thought on the mortgage (I've edited the above post). Even Mr MRN glanced at the spreadsheet!

I think what doesn't reflect in any spreadsheet is that we've spent £10k rennovating the house which, along with house prices in our area increasing over the last 4 years, has added approx £25k to the value - although you never really know till you sell!

And the little things I've done today:
Hung washing outside, brought left-overs for lunch, charging telephone at work, ordered days out tickets using clubcard vouchers... there's time for more yet!

Lois_E

See? Spreadsheets are *good things*. Mortgage spreadsheets in general are exciting and encouraging things. It's just that most of the world doesn't understand this.

Excellent news about the £2k correction.

gallygirl

Lois_E wrote: »

See? Spreadsheets are *good things*. Mortgage spreadsheets in general are exciting and encouraging things. It's just that most of the world doesn't understand this.

How true :T. And there's always something new to look at. This morning for instance I noticed that the £80 I paid into the offset account yesterday reduced the daily interest by 1p, but as I had to move £40 back out today it went back up again. It will however drop by 3p a day after the next mortgage payment. Fascinating :rotfl:.

MoneyQueen

MRN,

Just went through your diary. Great progress :T
And hope you finish with the student loan too very quickly

MQ

Mortgage_Reduction_Novice

I've been busy the last few days being a DIY champ, domestic goddess and offering my mystery shopping services. However, I just wanted to post about my new peg bag... that I made myself! The fabric was leftover from a batch I acquired from freecycle, the hanger was recycled from the old, torn peg bag and I downloaded the pattern.

downsizer3

Not only do you have a swanky new peg bag for all that outdoor drying - you have also thought of a great idea for christmas pressis! Sorted! :beer:

BaconandEggs

The peg bag looks great! A good idea for presents!

misscousinitt

Pity I'm rubbish at sewing! otherwise I might have stolen that idea!

MCI

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