Mr & Mrs Mintedmatty MFW's Diary

*Jellie*

Congratulations on your upcoming wedding- have just read all your thread. very inspiring! I must do better!!

mintedmatty

*Jellie* wrote: »

Congratulations on your upcoming wedding- have just read all your thread. very inspiring! I must do better!!

Its all relative Jellie, I look at SMLSave and others and wonder how I could save some of the figures they mention? either by overpaying on mortgages or into savings, anything around 10% of income and you will see some good results. If by hardwork some months you can save 20-40% of income you will really begin to see a snowball rolling down a hill effect. I knows its a savings account and nothing to do with MFW but I swear by Regular Savers, the first year is always the hardest. I saved £250 a month out of my wage and had a S/O set up for payday so the £250 was never in my budget for spends. After the first 12 months I had £3,000 and was still continuing with a new one at £250. It matures at end of March and I will set a new one up again for £250 to earn interest on that but I will also have £6,000 I shall put in an seperate account to get me earning interest.

SeriouslySeekingtoSave

Congratulations on your wedding :-)

I am also pretty happy with my savings account - it's with FD and gives me 8% (not tax free though) so that is very decent compared with my mortgage (3% atm). I'm setting up my ISA for the year as well, more for my 'just in case' fund rather than because it's much better than OP'ing my mortgage.

mintedmatty

My next door neighbours at my house that I rent out have put theirs up for sale at £114,950 - I think they paid £100,000 when they bought around 2 years after me! I bought mine for £88,000 in summer 2005. I know it depends on if they get close to the asking price but in times when prices are down im pretty happy that an EA has valued at that, mine is same size and has more land but theirs is on the end of the terrace. Having reduced my mortgage down to £45,000 even at 105k it would create some good equity in the house, it is all a mute point as I'm not looking to sell but interesting all the same. As MFW's say equity is only worth something if you actually sell? I just hope whoever buys it as the couple who live there are very nice and polite.

Almost payday again and im sticking to the overpayments of £172, round my mortgage from £228 upto £400 every month. I would like to put more on but im saving up for loads of stuff. £250 a month into the wedding account, still keeping my regular saver with £250, I've increased my pension payments to £125 and i'm putting £125 each month into my stag weekend fund (planning on going to Las Vegas easter 2012) My regular save that matures at the end of this month will be put into my A&L account which has £2500 already so that will be £5500 and I will keep it there while I find a good instant access account that i can put it in and add to it also month by month.

I will update on payday which is 25th March

Onwards & Upwards

mintedmatty

A very busy payday! I'm upto 18% paid off on my own mortgage and we are under the 87k mark on the main mortgage. We are very happy with saving over 7k interest in the last 2 and bit years on the main mortgage since we began overpaying. My regular saver also matured today so my mate at HSBC has instantly opened another one for me (dont want to lose even a day between one maturing and opening a new one) and I am transferring the 3k I already have into my A&L account that has 2.5K in it already. The good rate there ends next month so will be moving that into another account.

I have also updated the amount myself and my mates have put away for my Stag Weekend in Las Vegas, really happy with amount of interest that they have shown as it will cost a bomb! In difficult times it is a big ask for people to stump up £600-700 for 4 days away then another £500 spends. It is why Im getting everyone to pay in each month and hopefully we will book in august! I will be keeping an update on the tally, but really chuffed with how much the lads have put in even after only a month!

The wedding plans have gone well too, now onto photographers,suits,dresses and cars!!!!! Gulp! looking forward to it tbh!

Onwards & upwards and best wishes to everyone for the coming spring! I keep reading around the blogs and we seem to saving the economy one little bit at a time! Ha

wynnvegas

Hi Matty,

Many congratulations on your engagement. Might I congratulate you on an exceptional choice of stag do location. If I can assist in any way with information and advice, I'd be delighted to do so. I can finally have a good reason to review the strip clubs and more adventurous shows on our holiday!!

Cheers,

Billy

SeriouslySeekingtoSave

wynnvegas wrote: »

Hi Matty,

Many congratulations on your engagement. Might I congratulate you on an exceptional choice of stag do location. If I can assist in any way with information and advice, I'd be delighted to do so. I can finally have a good reason to review the strip clubs and more adventurous shows on our holiday!!

Cheers,

Billy

:rotfl:Is that the line you are going to give Moira, or was the clue in your choice of words 'I FINALLY have a good reason?' rather than the bad reasons you've given in the past?

wynnvegas

Hi SStS,

You know me - anything for a fellow MSE and a good supporter of my mortgage free journey! I know her far too well to have come up with any reasons in the past but I think I'm just about brave enough to see some of the other sights of Vegas (all in the name of research).

Cheers,

Billy

mintedmatty

Under £45,000!!!!! Felt a bit skint this month as paid car insurance off in full and booked to go to Tenerife in August! The figures are looking pretty good though, £7500 in saved interest is a huge amount saved for us and it is always motivational to see how well we are doing? The wedding fund is steadily growing, aswell as the stag do fund!!!!!!!

sarahevie

I think it's only healthy, in our house rather an obsession, to keep a breast of the local property market.

A house on the same road as my BTL has just gone under offer at £210,000, to say I am dying for the 3 months to pass to see on rightmove what it has gone for is an understatement.

I know the last two (all identical terraces) sold for £191,000 and £181,000 - I bought mine peak summer 2007 for £183,000 so is reassuring that prices haven't bombed:D