greent's mfw journey

greent

Another £20 paid today from £2 coins... about £80 left to find this month to reduce term by another month....

greent

£50 paid today from ebay Need just a little bit more now to reduce it by another month to 03/2017.... May just pay that tomorrow anyway 'just because'! FLW on ebay again this weekend, so unsold items going back on there again on Sunday night along with some previously unlisted stuff...

Current balance roughly £82360 - with mortgage payment due again on Monday, taking it to about £81235 then. Still large.... but our original total borrowing on this house was £160k. We moved here in Oct 2005 - so in just under 6 years we've almost halved it. IN fact, when we get to our moving anniversary, we'll be under £79k, so we'll have paid back £80K+ + interest in 6 years..... :j:j Wow!! When put like that, that's a phenomenal achievement - during those 6 years we've had a further 2 children, I've stopped work, DH has been made redundant twice and been out of work for 6 months. We've also paid for building work and a kitchen refit out of savings (over £20k) and bought 2 brand new cars.... (far too many £££ to confess!!) :o Our family is bigger and our income less than it was back then, too. We're just a bout to pay out for two new bathrooms, a new downstairs loo and new flooring for the hall too - the work's being done in September.

CathT

Wow, when you see it all written down like that you've done incredibly well.

greent

Inspired by cha97's thread I've updated our SOA. I think tax credits are paying us too much this year. With similar income last year they paid us £10.50/ week. This year it's £93/ week. I hate tax credits!!

Makes for quite nice reading overall, though Have put mtge balance in as at 01/08, rather than 29/7 ;-)


Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 620.4
Partners monthly income after tax....... 620.4
Child Benefit & Tax Credits............. 666.2
Other income...(dividends from company). 1500
Total monthly income.................... 3407

Monthly Expense Details
Mortgage.....(includes £543 OP pm)...... 1300
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 153.4
Electricity.& Gas....................... 95
Oil..................................... 0
Water rates............................. 42.17
Telephone (land line)& cable & broadband 60
Mobile phone..(paid for by business).... 0
TV Licence.............................. 12
Satellite/Cable TV. see above........... 0
Internet Services...see sbove........... 0
Groceries etc. ......................... 450
Clothing..includes uniforms............. 100
Petrol/diesel..OH's all paid for)....... 10
Road tax................................ 20
Car Insurance........................... 62.5
Car maintenance (including MOT)......... 67
Car parking............................. 5
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 75 includes guides, scouts, beavers, hire of school laptop...:eek:
Medical (prescriptions, dentist etc).... 83.33 - so high because DD's braces cost us £1675:eek:
Pet insurance/vet bills................. 0
Buildings & contents ................... 85
Life assurance ......................... 15
Other insurance......................... 25
Presents (birthday, christmas etc)...... 100
Haircuts................................ 20
Entertainment........................... 100
Holiday................................. 150
Emergency fund.......................... 100
Newspapers & magazines.................. 20
Charity stos, memberships............... 15
Total monthly expenses.................. 3165.4

Assets
Cash.................................... 16000
House value (Gross)..................... 310000 have lowered this in line with smaller hse sold last mth
Shares and bonds........................ 10000
Car(s).................................. 32000
Other assets............................ 25500
Total Assets............................ 393500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 81233....(1300).....2.5
Total secured & HP debts...... 81233.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 3,407
Expenses (including HP & secured debts). 3,165.4
Available for debt repayments........... 241.6
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 241.6


Personal Balance Sheet Summary
Total assets (things you own)........... 393,500
Total HP & Secured debt................. -81,233
Total Unsecured debt.................... -0
Net Assets.............................. 312,267

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Lois_E

greent wrote: »

£50 paid today from ebay Need just a little bit more now to reduce it by another month to 03/2017.... May just pay that tomorrow anyway 'just because'! FLW on ebay again this weekend, so unsold items going back on there again on Sunday night along with some previously unlisted stuff...

Current balance roughly £82360 - with mortgage payment due again on Monday, taking it to about £81235 then. Still large.... but our original total borrowing on this house was £160k. We moved here in Oct 2005 - so in just under 6 years we've almost halved it. IN fact, when we get to our moving anniversary, we'll be under £79k, so we'll have paid back £80K+ + interest in 6 years..... :j:j Wow!! When put like that, that's a phenomenal achievement - during those 6 years we've had a further 2 children, I've stopped work, DH has been made redundant twice and been out of work for 6 months. We've also paid for building work and a kitchen refit out of savings (over £20k) and bought 2 brand new cars.... (far too many £££ to confess!!) :o Our family is bigger and our income less than it was back then, too. We're just a bout to pay out for two new bathrooms, a new downstairs loo and new flooring for the hall too - the work's being done in September.

That's amazing, greent. I'm really impressed. :T:T:T:T:T

cha97michelle

How's it going? Not seen any of your posts in a while, but I sometimes feel like a whirling dervish.

Your progress is fab. I do think we need to take that step back. And when you compare your house value with mortgage left, amazing. People look at my remaining figure and think that is fab, but we only borrowed £73k, so it shows how relative all these things are.

Like you, we've done so many things since moving here, including a large expensive wedding, DH has replaced his car twice, me once, had both the kids, me stopping work.

Overall though, I think we are better now than ever we were. I manage it all so much better.

Keep posting hon, as it is inspiring stuff.

greent

Oops - haven't done anything MFW wise this month (other than usual regualr OP with DD on the 1st) We were away last week in N Devon (stayed in aunt's caravan - 6 of us in a space much smaller than my kitchen...) - pitch fees were £250 then there was the food, treats, visits to places - not exactly a cheap week!!

Anyway, I was just inspired to check my cashback after ordering something online, and I've got £67 payable, so I've just requested that - I'll pay £75 off the mtge when it arrives And next month I really, really must get back into ebaying.... I want to get another £600 off the mtge in extra OPs before Xmas - that should make our y/e balance £76K - a reduction of about £16k from last Xmas's balance

newgirly

Well done greent, 16K off in a year is fantastic!

greent

Woo hoo!!!!! Just made a small OP of £25. That coupled with the regular OP of £543.57 at the start of the month means the balance is now £79999 - yeay! Under £80k!!!!:j:j

Still no more ebaying done, even on FLW - severely de-motivated at the mo. Could do with clearing stuff out for the cash and the space. Now the kids are back and I've only got DS3 (2 1/2) at home I might get a bit more done.

Haven't been following diaries agin in summer hols - just couldn't keep up - will try and catch up later in month when routine is back (DD only went back to school yesterday - DS1 last Thurs and DS2 this Mon)

Ho hum....

CathT

Hope you manage to get some ebaying done, it would be nice to declutter a bit before Christmas but unless I am ruthless I can't see that I can get rid of anything!

Well done on breaking into the 70's, that's great.