PJF's New Quest

PurpleJellyFish

Well it's a big weekend for me. Finally moving into the new place so have the massive task of packing and moving my stuff. Aaargh!

Have been plodding along with the DIY and the only setbacks have been spiders and flies plonking themselves in my fresh paint on the skirting boards and doorframes. Carnage.

First mortgage payment went out this week and I also made my first overpayment! Just £10 as a tester to make sure that the bank details I was given are correct. Should be able to do another next week.

Now for the numbers. Feels a bit strange posting info like this as its not really something which is shared between my friends.

Original Mortgage amount: £68,699.00
Mortgage paid: £300.49
Overpayments: £10.00

Currently on 3.29% fixed

I don't want to overstretch myself with the overpayments as I want to make sure I have cash in reserve for bits and bobs for the house (and I've got to pay for my next module for my Open University course). I do want to pay more though as apart from my student loan I've never been in debt and I don't like paying interest! I see a mortgage as good debt as long as it's manageable though but still don't want to pay more for it than necessary.

Now must stop procrastinating and get on with sorting out my stuff...

PJF x

mennie

congrats on the first overpayment, you will be hooked now.

I recommend playing about with overpayment calculators and setting up a spreadsheets to see daily interest, it really helps focus you.

CathT

Hi and welcome.

There are loads of tips to be had on here! Maximise your income and send everyhing you can to the mortgage pot!!

PurpleJellyFish

Paid another £90 as overpayment this week. I've had a look at a few overpayment spreadsheets but for some reason they are not showing thae amount of interest I've saved yet - they do when I put in a slightly higher figure so this will be added motivation to pay a bit more off to get thinks ticking over.

Feels a bit daunting as I'm at the start of this journey but I'm determined to keep plugging away at it.

I'm waiting for my deposit back on my rental place and that is already earmarked as an overpayment. Not sure on the amount yet as they are wanting to deduct all sorts of silly bits and bobs. The issue I have is that an 'incident' caused by my housemate resulted in a new back door having to be fitted. This was done and pretty much forgotten about but now the landlord says that there was an alarm sensor on the door. I can't honestly remember but as I was the one who painted the door and repaired the doorframe, I didn't come across the corresponding part of the sensor on said doorframe. These things are sent to try us I suppose!

Expensive month so far but I should be getting money for the final bills from aforementioned ex-housemate soon so that should help. That may go towards some more furniture though.

linz

Hi PJF,

I'm new to MFW'ing aswell and I find it helps to break down your remaining mortgage into chunks of 5k at a time and focus on getting under each one. You may find it easier if you focus on getting under 65k and how good it will feel when you get there

Best of luck with everything!

PurpleJellyFish

Thanks Linz,

I have thought about breaking it all down but haven't quite got that far yet. It's my first mortgage and house on my own so still finding my feet a bit and working out a proper budget. Hopefully I should be able to set myself a realistic challenge come the new year, which will probably be to get it under £65k as you suggested. Just currently amusing myself with spreadsheets and hoarding pennies to make my next OP!

tootallulah

Congratulations you are doing really well, to overpay however little makes such a difference, good luck with getting your deposit back.

PurpleJellyFish

Good news - I've had the cash owed to me for the final bills, a cheque for the council tax I overpaid at the old property ad the landlord is now not claiming for the alarm sensor that never was! I need to make it to the bank to cash the cheque but I've also started counting out my money pig and there's another £11 in there so far bagged up. Should give me a bit of a boost on the overpayment front.

I'm currently procrastinating as I'm meant to clearing my front room ready for painting at the weekend. Family are coming down to do it for me. I'm racing for my sports club so I actually don't have to participate - how lucky am I?! :j

PurpleJellyFish

Just had a quick check of online banking and have made an OP of £30 - using the theory that I now won't spend it over the weekend!

PurpleJellyFish

Well it's been a pretty successful weekend after a hectic week.

Front room is now freshly painted courtesy of parents and aunty - they've done a great job, even done the gloss work and fireplace! Downstairs windows have been cleaned inside and out and the grass cut. And all while I was racing - we won so I have a shiny new medal hanging in my kitchen!

I've also made a start on my next module for my Masters - had an exam on Tuesday for the last one and resolved not to leave everything to the last minute as I think I could have done really well if only I'd managed to cover all of the topics in the few days that I left myself.

Back to the never-ending cycle of washing, cleaning and unpacking now. Oh and work, how could I forget that!

I think I'm going to have to make a list of all the jobs around the house that I need doing over the next few weeks to keep me motivated to do them. As I make the house more 'mine' this also seems to have the effect that I want to OP more so it really is mine.

• Pull up weeds between flagging outside that I've zapped
• Order sofa bed and bookcases (if the Tesco website will let me)
• Sort through a couple of bags of clothes for charity shop or bin
• Change lightswitches in kitchen and front room - the ones there are a bit battered and wonky

That should be enough to keep me out of mischief (well at least minimize it)