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Canne's Aussie Mortgage Free Diary

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  • canne_2
    canne_2 Posts: 124 Forumite
    My last update, the mortgage was 92 691. Its currently 90 903. I'll be in the 80s soon!
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    Mortgage balance is 89 777. Interest goes on in a couple of days and then with the next payment on the 28th we'll be under 90 000 for good...
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    I'm waiting for my son to come onto skype so I thought I'd post...

    Mortgage is 88 100. We've had a bit of a hiccup where we needed to clear the credit card earlier than planned (family reasons - sorry to be cryptic)...

    Plus we are having solar panels installed on the 10th December, we are paying them off over the next 2 years...they automatically put us on a 2 year interest free payment plan whereas I would have preferred to pay them off straightaway but I've gotten used to the idea now.

    We will be able to put a bigger payment on the mortgage on the 23rd December.

    Christmas is basically paid for, I've bought a chicken to have on Christmas Day (not a live one LOL) and we are going to have potatoes and veg and chicken gravy...

    It's also my Dad's birthday on the 10th December (the same day the solar panels are installed)...I'm buying him a block of Cadbury's chocolate and I also have bought him the annual Australian stamp collection. He has a complete decimal stamp collection since 1966...He also has quite a few older ones as well...

    I am doing a cross stitch at the moment, you can see it here at http://haedxstitch.blogspot.com I've been working on it since July 2009 and I haven't far to go and I will have it finished...all 168 000 stitches of it!

    I better go, my son will be getting onto skype any minute now...
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    Summary for the year:

    Total paid to the mortgage for 2010: 23 732.21
    Average per month: 1977.68
    Mortgage Balance at start of year: 105 141.29
    Balance at end of year: 87 852.15
    What we have paid off the principal: 17 279.14
    Fees/Interest paid: 6474.93

    Income for the year: 50 123

    All amounts are in Aussie Dollars

    Cheers

    canne
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • abouttimetoo
    abouttimetoo Posts: 1,860 Forumite
    Part of the Furniture Combo Breaker
    Hi Canne and a happy new year to you.

    I hope the solar pannelling fitting went well and that you will reap the benefits from them.

    I just wanted to drop by and say congratulations for getting sub 90K :j
    MFW Start Date 1.4.08. Updated 23.1.18. MFW date 1.8.18
    Original Mortgage o/s £187,643 / £71,904 (-115,739)
    Repay o/s £92,661 / now £55,900 (-36,761)
    Int Only o/s £94,982, now £16,004 (-78,978)
    Total daily interest £1 [a) £0.77 b)£0.23
    Total OP's:2018 target £TBC YTD £1,995
  • cha97michelle
    cha97michelle Posts: 5,818 Forumite
    Part of the Furniture
    Wow you have done so well overpaying in 2010. So big a percentage of your income went to it. You must be so proud.

    Lovely link to your cross stitch too. Some real effort went into that too.
  • canne_2
    canne_2 Posts: 124 Forumite
    Thanks! Happy New Year to you as well!

    The solar panels went well, we have been connected to the grid for 3 weeks now and have made $75.60 towards our electricity bill. That works out to be about $300 a quarter. Since our bill costs about that much - we will either be in credit a bit or have to pay a little bit.

    Yes we have done well, we have paid heaps to the mortgage last year. I think 2009, we paid about $26 000 to the mortgage as the government gave us bonus payments because of the GFC. So to put 50% of our income is great. Mind you we have a lot of spare cash as we live frugally and we try and not waste money. The 3 pensions work out to be $1905 a fortnight and our grocery bill is about $350 a fortnight (to give you an idea of relative costs).

    This year I want to edge up the average amount we pay to the mortgage so try and beat the $1975 average a month...

    The cross stitch I have nearly finished and have already ordered the materials for the next one, ...In the next few days I hope to publish the finish picture...

    You can see the picture of the next one I'm going to do on my blog...

    http://haedxstitch.blogspot.com

    Cheers

    canne
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • tootallulah
    tootallulah Posts: 2,197 Forumite
    Well done on getting into the eighties, I always look for your monthly update I hope that this year is good for you.
  • canne_2
    canne_2 Posts: 124 Forumite
    Well, my son has been with me for about a week now, and he will be with me for at least another couple of weeks. It's only a short visit this time, he'll be back with me at the end of May for a couple of months later this year...

    Mortgage has been paid today. Balance is now $85 903...
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
  • canne_2
    canne_2 Posts: 124 Forumite
    Balance of mortgage is now 84 693. I am trying to keep the credit card balance down as we have had a couple of high CC bills lately and I am sick of it. The balance of this month's CC is $315 which is very low and I want to keep it that way!
    The Mortgage Free in Three - Take 2 Challenge (MFiT-T2): #58 - Goal: Get to AU$50 000 by 12/12/12
    Current balance: $84 693
    2011 MF Wannabes: #102 - Goal: Overpay mortgage by AU$15 000
    Total paid for 2011: $2253.16
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