Sunnydays tiny steps

Sunnyday

Hi Peeps :wave:

I am now the grinning reader of the latest letter, this seems to have taken ages to arrive but now that i can see it in black and white it kind of makes it official IYKWIM

New balance - £7,373.97
New minimum payment £64.81
:j:j:j:j

The direct debit is for £700 now so that means an overpayment of £635.19 each month

I`ve also lined up a bit of overtime whilst its around as some peeps at work have part of their 2010 holiday allowance to use up before April so i`m making myself available to cover any days off that i can pick up and slot into my shifts. Not always an easy task but i`m planning on doing the extra whilst the weather is still cold and horrible then when the nice weather comes along i can take my normal days off.

I`m still planning on scraping every last bit into the mortgage account from the bank each month, the dates will vary as some of our outgoings arn`t fixed but every bit helps. I`ve also mucked up my spreadsheet by playing around too much so need to sort that out now. Think i shall make a copy before i do that again then i won`t muck up the original

SD

wantabetterlife

Hi Sunnyday, your minimum payment is how much our daily interest is for four days.......:rotfl::rotfl:. Happy days about the overtime....you will be shot of the mortgage in no time.

Spiggle

Fantastic news SunnyDay! :beer:

Well done, I'm so looking forward to getting so low. It seems such a long way off but for you!?! Less than 12 payments with just the monthly dd but with the determination you're showing I'd make a bet on 6 to 8 months! :T:j

Great going. Keep it up as your posts just make me smile - your smiles come through your words and it's wonderful. :A

All the best,
Spigs

setmefree2

WOW - not long now.....

:j:j:j:j

Sunnyday

Spiggle wrote: »

Fantastic news SunnyDay! :beer:

Well done, I'm so looking forward to getting so low. It seems such a long way off but for you!?! Less than 12 payments with just the monthly dd but with the determination you're showing I'd make a bet on 6 to 8 months! :T:j

Great going. Keep it up as your posts just make me smile - your smiles come through your words and it's wonderful. :A

All the best,
Spigs

Hi Spigs :wave:

6-8 months would be great if i could achieve it

I think if it wasn`t for pinching the council tax ,money then i would be able to knock another two months off it but i will need to start paying that again in April so i`m not hopeful but never say never.:D

I`ve factored in some of the overtime that i`ve already agreed with peeps for work so fingers crossed. I wish that i could pick up more shifts but there arn`t enough hours in the day and i work long hours as it is. I remember last summer working through all the nice weather and i really don`t want to do that this year so i`m hoping that by planning in advance this year i can have a bit of a rest and achieve my goal which would be great :j

I wish that the ground wasn`t frozen outside as i`m raring to go in the garden and i`ve already bought my seed potatoes and onion sets so hopefully my totals on the GC will go down a bit this year and i can add the savings to the mortgage pot. I`m also determined to continuously sow the salad leaves this year - something that i`ve never managed to do through the whole growing season so i`m hoping for quite a lot of freebie meals

Setmefree2 - I keep saying that to myself I keep looking at the letter to make sure that its real :rotfl:

Wantabetterlife :eek: I remember when i first found out how to work out the daily interest *swoons* I think seeing that in black and white was a big shock and that set me off with this challenge.

I`ve still not sorted out the spreadsheet properly so i shall have another look at that later. I`m always mucking things like that up :rotfl:

SD

Sunnyday

Morning peeps :wave:

well im absolutely obsessed with being MF now
So obsessed in fact that i`m waiting for another letter :eek:

I`m not entirely convinced that i`ve done the right thing this time around but it was an impulsive move and now its done there is no going back!

This is what i`ve done - after reading advice on the boards quite a while ago which said it was best to have some money set to one side for living expenses for a few months should anything bad happen we saved £5000 which has been stuck in an isa untouched for a long long time. From before we moved here in fact so it was a very dusty account. Well i`ve spent it and overpaid the mortgage with it :eek:

In my mind the money wasn`t figured in the day to day scheme of things so it still doesn`t feel like i`ve actually spent it as it was an ignored account IYKWIM.

Hmmmm feels strange. My reckoning is that with what we shall be able to save by the end of the year with no mortgage to pay i can put most of it back after using the first MF free month to pay the council tax. So really in writing this and explaining it in black and white i now feel much better as i`ve only really borrowed it for a few months :j:j:D:D

I`m so glad that i`ve posted this morning as in writing this down i feel like any doubt has vanished and i can start to look forward once again

Heres what the balance should look like when the payment for the DD has gone out on the 16th of Feb £1,375.32 :D:D:D:D:D:D

Which means that all being well the last payment will be in April :j:j

There will be an exit admin fee which will be payable so adding that on it will take us into May so my first MF free month should be June when i can pay off the balance of the council tax owed, then the payment which would have gone towards the mortgage which atm is £700 can be saved so by the end of the year i should be able to re credit the isa that i`ve robbed with most of the emergency fund.

I`m hoping that nothing is going to go wrong now *crosses everything* as i found out yesterday that we will be losing more work over the next couple of months but on the bright side with no mortgage to pay our living expenses will reduce drastically.

I feel really strange now - like its not really happening so i`m going to plough into the housework before i go to work later and keep myself occupied. I have lots of numbers running through my head and i need to replace them with normal thoughts so mundane tasks are required.

SD

Spiggle

Wow! Wow! and treble Wow!

That is absolutley brilliant Sunnyday! :T Congratulations! :beer: Have you stopped dancing yet?:dance:

Looks like the 6 to 8 months I guessed at is going to be waaaaaay over estimate! :rotfl:

I'm so very pleased for you (if not a little green with envy ).

All the best,
Spigs

wantabetterlife

Fantastic news sunnyday, am delighted for you :j:j

CathT

Hi Sunnyday,

I have just caught up on your MF journey - you are nearly there now and have done so well. Really look forward to your 'i'm mortgage free' post!

Well done

Sunnyday

Hi peeps :wave:

thanks for all your comments guys, i keep coming back to the thread and re-reading it so that i can see how far we have managed to get

It still doesn`t seem real that we are so close to being MF.

I`m really looking forward to the next two letters arriving from the lenders though.

The first should be sometime later in the week and then another one towards the end of February, i think that it will start to sink in then as seeing the amount on an official letter always does that for me

I think that the spreadsheet is now back to how it should be, i shall adjust it when i get the letters as they always differ just a little bit from my figures - not much but usually in our favour. I think that it must be due to the way that the lenders work out the interest.

In fact i`m off for a nosy at it now

SD