2012 mfw

rockabelle

And it’s payday! 1800 paid off, bringing April’s total to 1950. That takes me through the next threshold, of the balance being where it’s supposed to be after 4 years (after 13 months). Forthcoming thresholds look like they’ll take a few months to get to (monthly interest below 500, which is still another 5k away), so I might have to think of a new threshold to help with the motivation J
As for savings – I have a rainy day fund (approx 3 months salary) which I try not to touch (though will be in a couple of months as I have to replace some windows before the baby arrives). I also have some shares which provide me with a small income. Neither of these get added to, but the income from the shares goes towards my annual ISA, and I try and add about 200 a month to it. My priority at the moment is reducing the mortgage though, as it’s based on my salary rather than my husbands (it was about 9x his salary when we took it out, now down to about 7x :eek:), and my income’s going to seriously decrease in a few months….. Thank goodness for low interest rates!
Congrats to LavenderBees on reaching phase 1’s target! And thanks Spiggle for all your updates.

icklehelen

MFW 2012 No. 147

I've managed an OP of £1000:j

Expect this will be the last big one as the unpaid part of my maternity leave starts on Monday

ickle

Spiggle

Hiya,

Gotta be quick, off to a friends for film night.

Fantastic rockabelle, you should be really really proud of your achievement. More than two thirds towards target and only one third of the year gone, brilliant.

You too icklehelen, you're only £900 off your target and only two OPs made so far, excellent.

From the googledoc, a breathless originator has made another OP for this month which is superb.

Keep it up everyone!

See you in the morning,
Spigs

puddle96

No.43 reporting in.
updating for both March and April please: Not much in the way of Ops here
as I took a much needed holiday, that was followed by becoming a grandma again ( and you just have to spoil a daughter who has given you a beautiful grand daughter don't you? - one of each now) plus paid off last of debts incurred by being 'bank of mum' so can you put me down for
March £576
April £457
Haven't worked out where I am with my 2012 target but hope to meet it by the end of summer as I've made the rather rash? decision to reduce my working hours drastically at the end of August
Puddle

Spiggle

Good morning,

Congratulations on your new grand daughter puddle96, I have two of them! I've added your March & April OPs to the spreadsheet and your total for the year to date is £2,813 representing 46.89% of target so you're well on course.

See you all later,
Spigs

lincoln-potter

Lincoln potter
#123
Overpayment for April - £2000

elliejay_2

No 141, updating now payday is here!

Its bonus time, which means I've been able to pay the maximum £500 allowed this month, and I've put a little aside for next month too.:j

It just shows how addictive this overpaying lark is. This time last year I already knew what I was going to treat myself to out of my bonus, this year, I'm excited that I can pay an extra £500 off the mortgage!

Spiggle

Good afternoon everyone,

An excellent OP lincoln-potter which is updated for you on the spreadsheet.

The addiction has its claws firly into you now elliejay! Your great OP is added to the spreadsheet, well done.

We have a new joiner (through the googledoc) and I had a spare slot on the spreadsheet so please welcome Anna Glypta at No.49. Having made a massive lump OP at the beginning of the year, Anna joins with a remaining target for the year of £10,000. Welcome and good luck!

Also from the googledoc, kate1979 your brill OP is now recorded on the spreadsheet.

See you all later,
Spigs

Anna_Glypta

Thanks for the welcome Spiggle, really pleased to be part of the challenge. AG

pammyj74

curlygirl1971 wrote: »

Southernman wrote: »

I see so many people throwing money towards their mortgage but does anyone fit anything into a savings pot too??
QUOTE]

Depends what you call savings.

I have a savings account that contains a pot of money that pays for annual and one off expenses such as Insurances, Car Repairs, Holidays, new used car, Christmas blah blah blah. Its instant access and I make sure it earns as much as it can. I pay into it each month as if it's a Bill.

But longer term savings - no not really. I have them but I don't add to them. I OP or I save. As much as I love seeing that savings balance going up I have a really good pot of savings - probably more than I need for a rainy day but the thoughts of delving into them more than I have brings me out in hives.

I can't justify adding to my existing savings rather than OP'ing. My savings earn anywhere between 2.8 - 3.75%. My Mortgage costs me 3.99%.


Well done LB - Lots of hard work for you to get to that point methinks!

I do the same, I have my 'savings' account which has the money I put by each month for car ins/maintenance/school trips/uniform/holiday/childcare/xmas/birthdays and then I do the VSP which normally makes up between £40-£60 into the account each month as well.

Anyway I have been AWOL this month as I have been saving for a new puppy that we are getting in the summer hols.
I have had palpitations of not being able to OP but I have now OPd £200 making my total OPs this year to £2250/£6000