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My Improbable 10 Year Target
Comments
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Quick update! I have just got a part time job with flexible hours, so that should bring in around £150 - £200 a week after tax which is really going to help
I think that I am going to just save this extra until I have around 6 months worth of money in the bank, (i.e. enough money to pay all bills, not just the mortgage). Then I will overpay this extra
Also with this job, I get free meals while I am there so will save a bit of money there
I will repost my SOA next month when I know how much I have earnt from this new jobbie...Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0 -
WOOT!!! Cool beans!
- Mortgage @ March 2008: £194,965 ; Lightbulb Moment: July 2011: £164,926; End Date: March 2033
- MORTGAGE FREE: September 2015
- MSE 1p Savings Challenge 2024 #50: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec = £223.84/£671.61
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Woot indeed!! Just hope that I am not stretching myself too thin? Full time job at approx 40 hours a week, part time uni course plus a part time job of approx 20 hours a week? I'm sure I will manage!!Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0 -
Mind you I am doing exactly the same... new job, Part time Diploma and study - maybe we need to start a little study group!!!
- Mortgage @ March 2008: £194,965 ; Lightbulb Moment: July 2011: £164,926; End Date: March 2033
- MORTGAGE FREE: September 2015
- MSE 1p Savings Challenge 2024 #50: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec = £223.84/£671.61
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I wouldn't worry; I'm working two jobs full time, and trying to renovate the bathroom on weekends...
Gotta get the money from somewhere, right :rotfl:Debts (26.3% remaining) - CC/BARC: [strike]2058[/strike] 100.00 @0%; CC/MBNA: [strike]1877.75[/strike] 0.00; Loan/SLC: [strike]10000[/strike] 7901.84 @1.5%; Loan/Per: [strike]1500[/strike] 0.00; Loan/HX: [strike]15000[/strike] 0.00
Mortgages (94.7% remaining) - NW: [strike]92516.94[/strike] 87565.40 @3.19%; HBOS: [strike]65599.57[/strike] 59106.45 @4%, [strike]69251.57[/strike] 68589.97 @3.49%
Total amount of fail: Dangerous (223263.66)0 -
I wouldn't worry; I'm working two jobs full time, and trying to renovate the bathroom on weekends...
Gotta get the money from somewhere, right :rotfl:
exactly!! wish I could do my own plumbing too...!!Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0 -
On a break, just worked thiout the interest per day on the following balances:
(Assuming my interest rate remains at 6.59%)
130,330 = £23.86
121,500 = £21.94
121,000 = £21.85
118,000 = £21.30
115,000 = £20.76
113,000 = £20.40
110,000 = £19.86
100,000 = £18.05
They may seem like random amounts, but they are my targets up to 2014!!
Incase you are interested, I worked it out by:
Amount / 365 * interest rate i.e. 0.0659 for 6.59%.
Shocking.....Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0 -
Just to scare myself more, below is the interest repayments alone per year on each of the amounts:
130,330 = £23.86 = £8,708.90
121,500 = £21.94 = £8,008.10
121,000 = £21.85 = £7,975.25
118,000 = £21.30 = £7,774.50
115,000 = £20.76 = £7,577.40
113,000 = £20.40 = £7,446.00
110,000 = £19.86 = £7,248.90
100,000 = £18.05 = £6,588.25Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0 -
Those are scary amounts - and will be similar for so many people.
Good tobe aware of it though and use it as a motivator to be MF.0 -
BaconandEggs wrote: »Those are scary amounts - and will be similar for so many people.
Good tobe aware of it though and use it as a motivator to be MF.
Exactly. I'd rather know and be scared, than be blissfully unaware!!Original Mortgage Debt - £130,330.
Current Mortgage Debt - £116,605.
2010 O/Ps - £5,000. 2011 O/Ps - £1,978.42.
Original Loan Debt - £6,000. Current Loan Debt - £3,500.
Original HP Debt - £1,000. Current HP Debt - £240.0
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