2011 mfw

black_taxi_2

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Month: Ideal Pay / Ideal Total / Ideal % / Actual Pay / Actual Total (Diff) / Actual %

you love your stats

you should be on bank of england board sorting out this inflation lark

pavlovs_dog

another 90 squid gone mortage-wards. Now Op'd £1110 of £1500 target for year :j

evi3000

Well we didn't get any Olympic tickets so I have overpaid £3000. :j

I'm secretly glad we didn't get any tickets as it would have meant spending the summer in London and I really fancy an extended holiday to China next summer - couldn't have done both!

And next pay day is a bumper pay as we're paid June, July and August's wages in one go to cover the summer as our work place closes but then that does mean careful budgeting and no more money until end of September. Hopefully, I can OP £7500 in July and when I'm home over the summer I'm closing my ISAs so that should be another lump sum.

I'm one very happy homeowner right now!

Good luck everyone!

puddle96

66 here
Leading Number turned and an OP of £1023.14 made for June. May be a bit more to come but purely pennies so I'll count those in July's figure.
A financially frustrating day today - enough money has gone through my hands to pay off this mortgage but unfortunately its not mine. I've been helping my rather elderly and financially befuddled mum move her money around. An instant access savings account of 0.1% and very substantial ISA amount at 0.5% - I did my research and asked one question of each provider and instantly got her onto much better rates with no change in terms and conditions, its no wonder MFWs are in the minority
Puddle

goobergirl

Hi Puddle,

my parent's are due to pay off their mortgage in August. They will be 65 & 69 yrs. Both still working, because they want to, but I can't help thinking they will have been fleeced for thousands as they are not the types to 'shop around' for things like mortgages, etc.

I have only just persuaded them to change home & car insurance providers this last year and they were amazed at how much they saved. I dread to think how much cash has literally been wasted over the years....

Anyway we all need to spread the MSE word far and wide so fewer and fewer get caught in these traps and line the wealthy businesses / banks pockets!

---

For my own latest update (indulge me as it's my 1st month!!) I have been going E Bay mad and have made a further £66.36 sales with at least another 22.38 to come.
£20 saved on a cancelled kids music lesson that I had already budgeted for.
£25 selling youngest child's old highchair on Gum tree.
£10.60 Co-op Dividends and an amazing £90 by selling on DD's old dancing outfit.

Total £234.34 + £90.71 = £325.05!! Just from clearing out old stuff that wasn't getting used anymore.

It's such a pity new tyres for the car cost £305.00:mad: Still, at least I won't have to pay this out of my planned OP amount

black_taxi_2

banks KNOWINGLY give cr--ap rates to loyal older or younger customers who dont honestly know about how finances work.

there not there to help customer but to see how much they can get

LEECHES--NO OTHER WORD

puddle96

Goobergirl thank you for reminding me that I'll have to take a look at Mum's other bills as I'll bet she is still with her original providers.
I think the saddest thing about yesterday was absolute confirmation that my lovely strong mother is now an elderly lady, not financially savvy, a little slower in grasping things, rather hard of hearing and easily flustered especially if it involves her life savings. Although the individuals from the institutions involved were lovely to her they spoke too fast, were obviously reading from a prepared script, were still on the hard sell and she just got more and more flustered. Thanks to MSE I had done my research, knew what she wanted/needed for her money and was able to take the phone off her (only trying to move money from A to B so we could move it elsewhere) and say no on her behalf - I wonder what would have happened if she'd tried to do this on her own?
Puddle

goobergirl

puddle96 wrote: »

Goobergirl thank you for reminding me that I'll have to take a look at Mum's other bills as I'll bet she is still with her original providers.
I think the saddest thing about yesterday was absolute confirmation that my lovely strong mother is now an elderly lady, not financially savvy, a little slower in grasping things, rather hard of hearing and easily flustered especially if it involves her life savings. Although the individuals from the institutions involved were lovely to her they spoke too fast, were obviously reading from a prepared script, were still on the hard sell and she just got more and more flustered. Thanks to MSE I had done my research, knew what she wanted/needed for her money and was able to take the phone off her (only trying to move money from A to B so we could move it elsewhere) and say no on her behalf - I wonder what would have happened if she'd tried to do this on her own?
Puddle

How awful for her and you! Thank goodness she has you looking out for her. I dread to think of the thousands that have no one.....:mad:

goobergirl

Message from FA yesterday to say mortgage application approved. Just waiting for survey now...:eek: If it all works out we could save over £600 a month on our interest payments. I am trying not to get too excited until it's all signed & sealed but I can't help think of how £600 OP will help my MF quest. 10 years or less should be achievable if this works out. :j

SmileyG_2

MFW #48 reporting in

Sixth overpayment of 2011 made on the 15th June 2011
Overpayment target: £1200
April overpayment : £50
Overpayments to date: £1000

My overall mortgage status is now:

Mortgage at 18/06/2011
Outstanding balance: £47,575
Estimated endowment value: £26,541 (revalued 1 April)
Investments: £14,942
Deficit: -£6,092

For my information on the damage I'm doing to the mortgage, here's the link to my diary...

http://forums.moneysavingexpert.com/...1854517&page=3

My overpayments since Jan 09 will also save me an estimated £1,279 before my original target MF date of September 2014.

My overpayment reserve is £7,750, well over 22 months regular mortgage payments.

With the success of this strategy, the stretch target of September 2012 remains the new target (14 months to go....)

I've manage to secure some Olympic tickets, looks like they're for the Women's football final at Wembley, but given that I'd applied for many more, it's a disappointing return:(

Good to see everyone else's progress. Keep the faith!

SmileyG