pammyj74's MFW diary (or possible wishful thinking!!)

pammyj74

At the moment it works out approx every £500 takes another month off the term and saves me about £225ish interest. So £1000 would save me 2 months and about £450 off the interest. Its mad when you look at it like that how much we are actually saving by OPing. I would love to know my full amount to date since July last year

LilacPixie

I'm sure you could find out my some means. snowball calc possibly or a spreadsheet but i'm an excell dunce. surely there must be a way of comparing interest paid to interest projected using the normal regular payments and compare the 2 showing savings.

pammyj74

Its all quite all over the place with different rates and then reducing terms etc. It would do my head in to try and work it all out.

Apparently when my mortgage was 5.89% £89k, the interest would have been £73k over 23 years :eek: (£24k interest in first 5 years)
comparing that to now £74k at 3.5% (which isnt going to stay that way of course) over 11 years is only £15200 in interest. What an amazing difference!!

my payments last year was £594 with £430 of that being interest 72%!!!!
Now my payments are £696 with £230 of that being interest 32% a bit better

LilacPixie

I tried to take it on a month by month basis. IE £9 a day interest was then 8.70 then 8.30 et cetc until now its £4.42 or somehting. according to my normal projection it should of still been £8.27 even with rate drop if my payments had also dropped Kwim. I have sort of lost interest in current mortgage while waiting on sale etc.

I signed up for the survey sites.

pammyj74

yes I got my 50p on onepoll thank you Definitely check that a few times a day as some surveys go off when they get their limit. I used to check it once every couple of days and was getting nowhere, now I check it in the morning, while at work sometimes when not busy and in the evenings I am so close to payout now but its took over a year lol

Queen-Bee_2

Just dropping in to say hello - well done on your stats - they're looking good . Some people have the most amazing sounding spreadsheet to work out every nuance of their MF journey. Unfortunately, I'm not one of 'em, but I capture very similar figures each month to you, and every now and again produce a graph showing the downward trend. It's always very inspiring! Your interest per day rate is looking great BTW, fantastic progress!
QB

pammyj74

Thank you, its nice to share on here cos I dont share it with anyone else. The interest per day makes a hell of a difference doesnt it on how much capital is actually coming off!

Sunnyday

Hi Pammy :wave:

nice to see that everything is going well, great news about the car passing

Interesting reading re the amount of interest, very scary indeed :eek:
You`ve done so well bringing it down.

I`m not an excel whizz or anything close but i found a some spreadsheet instructions on this board a while ago and copied them, i put my own figures in and its great. Thats the only way that i can tell whats going on as my maths is pretty pants apart from the very basics

I keep a copy on google docs so that whenever i`m feeling a bit low i can sneak a peek

With our current situation the overpayments have no doubt saved us, as now that we have to go down to minumum payment for a while we can just afford to scrape by. If we hadn`t overpaid then we would have no chance of this so yet another reason to keep on whittling away at it.

Keep up the good work

SD

pammyj74

Thanks

Had a really good whoopsie shop yesterday at my local tesco corner shop
Got £24 worth of food for £10. Thought that I had still been charged too much so checked my receipt and they had charged me full price for the four loaves of bread so went back in and got a refund. Went home and still was bugging me that it was too much so went through my receipt and I had been charged full price on a pie that was £3.39 reduced to 85p. Went back this morning before work and thought I would ask for DTD and they gave it me. Plus was charged for 2 packs of grapes rather than one so got £5.77 refunded on top of the £1.20 the day before woohoo

so £24 of shopping for £3.47 :j
got some tomato and pasta meals for 25p which I have chucked in the freezer, bread, pies, cakes

Ddraig

Your doing fab.Wouldnt it be grate if we were still all on here in 11 years to see how much better off you and hopefully we are?

Chatting on here made me remember my pure profile account.So yay,lol.

And how lucky did I get when a friend all of a sudden asked on fb if anyone wanted an amazon voucher code coz she didnt want anything on the site.£5 for nothing,whoop.

Its the heating Im weary of this year.It was 4 years ago last time I had to worry about the house getting too cold because of a newborn.Gas and electric are a lot more expensive this time round.Baby is well wrapped up and even goes to bed with a cardigan over his pjs.Just bought him a grobag off ebay too.

Hope your November targets are as good as your October ones Pammy.xx