Canne's Aussie Mortgage Free Diary

canne_2

Hi FB and Black Taxi,

Thanks for the welcome and FB, yes I will make it close to the 105 000...I still have to finalise a goal, goals are a bit tricky as I don't want it to be too easy nor too hard...

Cheers

canne

canne_2

It was payday yesterday and we paid 943.60 to the mortgage which makes the balance $106 034.01

We should get under 100 000 by March next year...

I started paying extra to the mortgage a year ago and in that time we have paid 27000 off the principal. Not a bad effort for people who are on pensions!

setmefree2

well done :T:T:T:T:T

canne_2

I got paid by a survey company plus I added an extra few dollars so the balance is now 105995.

We got our quarterly electricity bill for $240.98. The winter bill was $345 so this one is a lot better! We put in a solar hot water system about a year ago so we are using half the electricity we were before. Bills keep going up though because the price of electricity went up 20% in July and will keep going up especially if Australia adopts an emissions trading scheme...

Also the phone bill came, we called more people last month so that is up a bit too. The bill is for $47.50 when it is usually about $33...

I installed VOIP last week as I will need cheap international calls soon but I am having technical issues, when the VOIP router is plugged in, the internet stops working. The technical support people are getting back to me soon, hopefully with a solution...

I set a goal for Financial Bliss's Mortgage Challenge of getting to 105 000 by the 12 December a while ago and we will reach that... Next Thursday (which is the 10 December) the mortgage will be about 104900...

I had to buy a new letterbox as the old one was cheap and the post was flimsy and doesn't stand up to a kick that the kids gave it last week. So that was $100...

I worked out when we could pay off the mortgage and it's now November 2014 as I will lose some income soon as my son will live with his father, although without my son's expenses I will probably wind up ahead...

And that's it for now!

canne_2

I got paid $30 to my paypal account from another survey company. It costs $1 to withdraw from it so $29 is going into my bank account soon and I will be able to make an extra repayment...

Can you tell I spend a lot of time doing surveys! LOL

evab_2

well done, those surveys add the pennies to the pot so keep going!

canne_2

I got paid that $29 today and I transferred it straight to the mortgage...

It's payday again this fortnight and we will be doing the following:

$240.98 to electricity bill
$47.50 to phone bill
$1015 to mortgage
$715 to savings account

Every payday I bring the balance of our savings account to $1200 which allows us to do the grocery shopping and also keeps money for emergencies. We also have over $22 000 in redraw in the mortgage but it costs $50 to redraw from that...we have never had to do that, what goes in the mortgage stays in the mortgage...

canne_2

Well, my old TV broke down so I bought a 32" LCD TV for $774. Which means I couldn't pay extra to the mortgage yesterday.

This makes the starting balance for the MFIT -2 challenge 105 611. I want to get the balance down to 50 000 in 3 years time...I will hopefully beat that goal...

canne_2

Here is my progress and projected progress for the month of December 2009

Mortgage payments
4th - 33.72
8th - 29.00
8th - 3.67
10th - 339.00
11th - 8.99
12th - 3.46
13th - 6.09

Projected Payments

15th - 66.66
23rd - 521.60
24th - 339

The interest cycle runs from the 25th to the 24th of the next month so that's what I have worked it out to.

According to my interest calculator software that will make the balance 104 675.77 and the interest will be 515.29 which will make the balance 105 191.06 for the New Year...

canne_2

Here are some more figures for the past year.

The balance on the 25 December 2008: $131 963
The balance on the 25 December 2009: $105 212

Interest paid in that time: $6377
Account Keeping fee: $96

Amount paid off principle: $26 751
Actual amount paid: $33 224