Ajmoney's mortgage reduction diary

setmefree2

ajmoney wrote: »

Good news, I have made £618.15 on a £1000 unit trust investment in 6 months I love money saving :money:

well done on that :T:T

StuartGMC

You've got to speculate to accumulate and returns since Oct 08 have been excellent - well done for having the risk tolerance to put the £1000 in originally. Have you realised all or some of the profit?

ajmoney

StuartGMC wrote: »

You've got to speculate to accumulate and returns since Oct 08 have been excellent - well done for having the risk tolerance to put the £1000 in originally. Have you realised all or some of the profit?

It is still there at the moment. It was invested in 4 instalments of £250 and was my first taste of the scary stuff even though it is mild really. I am only investing in the S & S ISAs for now so I am looking forward to those statements coming through I have invested £3250 so far in this tax year. I hadn't thought abput releasing any, I am new to investing, I might contact my financial adviser and have a chat. Although when I put any money away I don't normally plan on accessing it again and these investments are long term, I guess I shall see. I need to get organised and set it up so I can see them growing online as I will probably learn more about them that way.

ajmoney

I missed the 18th of the month to check my mortgage balance but I have calculated it and am a bit happier this month

18/02/05 £63,000.00 Opening balance
18/08/09 £48,626.03
18/09/09 £48,376.02
18/10/09 £48,086.76

Between the August/September payment I reduced the balance by £250.01, this month I reduced it by £289.26 :j I am getting there very gradually. I am going to ignore the interest accrued against what I have paid as that depressed me last month, with these figures I can see that my OPs are helping, thanks to all my influences on here :money:

ajmoney

StuartGMC Where do you track your funds? I have been meaning to get sorted online to track my funds since I opened them, I enjoy seeing my money 'work' for me so the sooner I do this the better. I have just found a website that had most of my funds and all apart from one of them seem to be doing ok.

StuartGMC

ajmoney wrote: »

StuartGMC Where do you track your funds? I have been meaning to get sorted online to track my funds since I opened them, I enjoy seeing my money 'work' for me so the sooner I do this the better. I have just found a website that had most of my funds and all apart from one of them seem to be doing ok.

MRN
I guess from the post in my thread you saw the specific comments here:
http://forums.moneysavingexpert.com/showpost.html?p=26117815&postcount=970
and
http://forums.moneysavingexpert.com/showpost.html?p=26083613&postcount=966

Not sure what your arrangement is with the IFA and fees, but ensure you are actually getting value if you have only invested such a small amount so far.

I thought originally I'd be leaving things and looking every few months, but, driven by the crisis I was checking more frequently. However, I have mainly adopted changes once per year on the funds selected, but may tweak the amounts to each along the between reviews. It is important to know what is happening and performance of the sector (which accounts I think for some >90% of returns and the specific fund which makes up the rest).

Best wishes in learning more along the way, I think it will benefit you to do so and all of us are being forced to know about the markets as we get pushed closer to the US model for selecting our investments for our own pensions (as per their 401K scheme). No longer can we live in a "simple" financial consideration of current account, savings, mortgage, credit card and pensions...

ajmoney

StuartGMC wrote: »

MRN
I guess from the post in my thread you saw the specific comments here:
http://forums.moneysavingexpert.com/showpost.html?p=26117815&postcount=970
and
http://forums.moneysavingexpert.com/showpost.html?p=26083613&postcount=966

Not sure what your arrangement is with the IFA and fees, but ensure you are actually getting value if you have only invested such a small amount so far.

I thought originally I'd be leaving things and looking every few months, but, driven by the crisis I was checking more frequently. However, I have mainly adopted changes once per year on the funds selected, but may tweak the amounts to each along the between reviews. It is important to know what is happening and performance of the sector (which accounts I think for some >90% of returns and the specific fund which makes up the rest).

Best wishes in learning more along the way, I think it will benefit you to do so and all of us are being forced to know about the markets as we get pushed closer to the US model for selecting our investments for our own pensions (as per their 401K scheme). No longer can we live in a "simple" financial consideration of current account, savings, mortgage, credit card and pensions...

No worries about IFAs and fees, I am still at safe(ish) level going through building society funds. with a small fee taken from the fund managers from each.

ajmoney

I got a statement today about 2 of the funds that I pay into as part of my ISA contribution, I have made £192.56 on an investment of £1,250 in 4 and a half months. Not as good as the investment I put on last week but it is better than nothing. I am waiting to here about the other 5 investments, hopefully it will be better. Oh, incidentally they are the same funds. The ones I mentioned last week were opened as unit trusts, these are the exact same funds only they are tax free, why do I think I would be better paying the tax, I seem to have a better return on my money.

Good news, I have been promoted today. It will probably take until the end of the year for the payrise to catch up with me, even better than that...it is being back-dated to September 1st :j

ajmoney

November's mortgage payment will take me under 48K :j slowly but surely...

ajmoney

I have been working out some mortgage stuff
£520.48 Total of monthly payments left this year
£235.00 Total of OPs left this year
If no interest was accrued this would take the balance down to £47,331.28 at the end of the year
Unfortunately this doesn't happen so...
£264.18 Interest (at 2.68%) calculated from 18th of this month at £3.57 a day EDIT I THINK THIS MAY NOW BE LOWER, I HAVE MADE A NOTE OF IT TO CHECK AGAIN TOMORROW

My balance on Dec 31st 2009 should be £47,595.46

I had already added extra payments so I would have OPd £1000 by the end of the year but if I pay an extra £95.46 I can get it to £47.5K, how cool is that?!

If I have calculated this wrongly then please tell me before I get too excited.