2010 MF Wannabes

violetblue

No 12 reporting in, with a £700 overpayment for May :j

k2tog

108 reporting £80 for May.
Slow going here and mortgage is just about to change so may have to do some rejigging :cool:

rumncoke

No 124 checking in for May. A whopping £1584 OP this month due to having some surplus in our budget account & a good month for my business. (My budget year runs Jun -May) Surplus plus normal OP transferred to mortgage.

Over half way to my target for the year.

puddle96

No 66 reporting in for May
Had to divert some of my overpayment money plus a tax refund into my appropriately named rainy day fund to get my leaking chimney fixed. Still managed op of £746.02 so not as bad as I feared

canne_2

No 102 reporting in for May, though I'm not sure if this is the final figure:

I have overpaid AU$1885.74 in May. That's AU$6598.12 for the year. I'm over halfway there to reach my goal of $13000 in overpayments for the year!

miss_undastood

Advice needed!!!!
I have £5,200 savings (and enough money to tide me over for about 6 weeks) if I put my money in Barclays 3.1% ISA for this year... (2.1% variable + 1% bonus)

My question is, do I invest this money now (at a variable rate so it will rise with BoE Rates) and then use the savings which would have been for ISA at the end of the year to replenish these savings?

Your prompt responses will be appreciated as it closes on 1st June!!

I won't have much spare cash but I won't be stretched, but my job is relatively stable, and I will be able to replenish savings at a rate of between £500-700 a month...

pencekeeper

Number 180.

OK, some bad news and some good news.

Bad news: work look likely to get rid of me soon, or make me part time both of which will of course drastically affect my mortgage repayment plans
Good news: unexpected bonus this month, and the end is in sight.

£800 savings + £1,600 bonus + £1,400 overpayment + £375 mortgage payment (£29 of which is interest):

Old Mortgage balance: £14,400
New Mortgage balance: £10,200 (£17K paid off since start of year)

Milestone achieved: Now 6 months remaining at current repayment rate
Milestone achieved: Out of the teens (<£13K)
Milestone achieved: <£0.70 interest a day (was 99p, now 69p)

New target: Repay mortgage by end of November. (there is now a very real chance this won't happen due to job)

Baby_steps_2

No 167 reporting for May, another £100 paid. Bring on August when we can really start overpaying!!

SmileyG_2

miss_undastood wrote: »

Advice needed!!!!
I have £5,200 savings (and enough money to tide me over for about 6 weeks) if I put my money in Barclays 3.1% ISA for this year... (2.1% variable + 1% bonus)

My question is, do I invest this money now (at a variable rate so it will rise with BoE Rates) and then use the savings which would have been for ISA at the end of the year to replenish these savings?

Your prompt responses will be appreciated as it closes on 1st June!!

I won't have much spare cash but I won't be stretched, but my job is relatively stable, and I will be able to replenish savings at a rate of between £500-700 a month...

If the ISA is an Instant Access account .... go do it now. 3.1% is a great Instant access rate.

SmileyG

SimbaSimon

Number 164 just checking in for May. £90 Of overpayments made this month which while better then recent months I'm still slipping on my half year target so far. With May's overpayments I'd need to overpay £180 a month for the next 7 months to reach my £2,000 target, which is quite a challenge as this doesn't leave much money in the pot for other things but I'm hoping to do it. I've also spent a bit of unnecessary luxurys recently so must try and cut those out for the next few months and focus on the mortgage overpayments and savings. Fingers crossed!