Countdown to Freedom

Tilly_MFW_in_6_YRS

Hi NHS, thanks for dropping by. It's really helpful to have support and good luck with your plans. How fab that you have inspired your Mom also. I talk to my kids about saving, investments etc now and they both receive an allowance (pocket money in my youth but that's not cool apparently). They have to use that and budget for Xmas and birthday gifts, for family and friends. It's been a big help to them and yes, they set up a spreadsheet to work out how much money they needed to put aside for each.

Good luck on your journey.

Best wishes Tilly

Tilly_MFW_in_6_YRS

It's pay day :j

I have just finished a delightful 30 mins switching........

As I save in advance, I now have my February OP funds available, plus another chunk towards the 12/13 ISA.

I have two mortgage payments left with the Spanish bank :eek: and then FD here we come. I do feel that I am looking to them to be the panacea for all ailments, but so far they have not let me down at all. It has been a delight to deal with a professional accountable bank.

Mortgage sig won't change until end of next week, but it should be around £301k when we switch and I am taking that down to £299k for the new mortgage and then will OP January and February (£6k), once mortgage is up and running.

The motivation and focus in the Tilly household is unbelievable. Starting this diary in November has been like turning a switch touching our financial mngt, exercise, housework etc - I can really see our journey ahead of us, but in my mind it's chunked like a project plan, with OPs being milestone payments, and dependencies etc. This has been a big help also, as it's really no different from work and looking at it with an observers hat on ooccasionally, means the focus stays clean. Removes the temptation to dip into funds and buy unnecessary stuff.

Given the size of the challenge, we have to catch up for our over spending ways of the past, so that requires a more stringent approach over the next few years.

I have always said we will have fun on the way, and we do but, in a much more economical way than before. As an example, if the weather is dry (at all) over the weekend, then we are off on a bike ride, taking a disposable BBQ and rolls/bacon. Kids don't know yet but they will love it. (disposable BBQ bought in the sale at Wilkies for £1)

That's all for now, a delighted Tilly is about to get a cuppa.

Best wishes Tilly

Tilly_MFW_in_6_YRS

Just a quick recap:

Original mortgage 29 years in December 04 £378k

Since then we will have cleared £79k over 7 years (appalling) - mortgage started at the very end of year so it's 7 not 8 years

From now on, we are focussed on clearing by 4/8/16 which will mean overall mortgage term of around 11.5 years, a reduction of 17.5 years :j:j:j

That really gets it into perspective and what a huge improvement - thank you MSE and MFW. This would not have happened without this forum and the LBM.

Tilly x x x

Froggy-G

Happy PAY DAY Tilly!! Woohoo!! :j

I still have to wait till next week for mine..:mad:..

Cheers
Froggy :cool:

Tilly_MFW_in_6_YRS

Hi FroggyG, I have sent you a couple of questions so if you have a mo, can you check them out and get back to me? Not sure whether it will help but you never know.

Enjoy your payday next week - it seems to have a been a long time coming this time round.

Tilly x

Needhelpsaving

Wow £79K in 7 years!!!!! I reckon that's an achievement in itself.

I am very inspired by all of the diaries on this board, although I usually tend to just lurk about

Tilly_MFW_in_6_YRS

Hi NHD, stop lurking and start a diary. I lurked for over a year whilst getting DH on board, and having a diary is a huge motivation.

I'll be subscribing too.

Tilly xx

sweetdaisy

Tilly_MFW_in_6_YRS wrote: »

From now on, we are focussed on clearing by 4/8/16 which will mean overall mortgage term of around 11.5 years, a reduction of 17.5 years

Wow! That's amazing. You'll be saving so much money, congratulations.

lulabelle1

Morning Tilly

Loved the disposable BBQ and bacon rolls idea..... I shall be implement in the LB household as soon as I can find some disposable BBQ's - fab idea!!!

Pay day for me too, but just waiting for it to appear in my bank account which will be some time in the next few hours which is when the money moving will happen... lIke you, I look forward to this every month!!

L

Tilly_MFW_in_6_YRS

Hi SD, it is quite remarkable as I never looked at the bigger picture but when you see it in black and white it is amazing. DH can't believe it so is a very happy chap today. He keeps muttering 17 1/2 years and then a few grunts.

Hi LB, all we need now is a 2/3 hours of no rain and we're made. Bacon ready and DH is making h/m rolls so all good to go.

I am doing it now walking off muttering '17 1/2 years ,.......

:j:money::j