Pammy's 5 Year MF Challenge - New Year New Target

pammyj74

Not too bad really, i sort of know what im doing haha

gallygirl

Glad it's going so well Pammy :T

pammyj74

Thanks, So have lasted a week! I think its going to be alright, the people I work with are lovely and they seem to arrange nights out and stuff so hopefully will try and get something sorted with the kids dad to have them sometimes (more chance of pigs flying tho!!) But would like to see them and get to know them socially as well as I feel it gives a better feeling in the office and you feel more part of the team.

On the downside didnt get paid from old work today as I thought I would but they said I didnt work a week in hand (which I vaguely remember so thats a bummer, was expecting an extra weeks wages but oh well thought they might have forgotten haha

pammyj74

£200 OP for March so far and another month off my end date

pammyj74 wrote: »

New Year New Target

New Target date is to be mortgage free by Dec 2016 **5 Years** (if nothing else happens before then).
Monthly payments left is 94 (after Jans 2012 MP has come out)
This means I need to shave 35 months to finish Dec 2016 Not sure if its achievable but will give it a good go. The only thing that’s good is that I know I will thrash my first target for sure! Dec 2019!!

A lot of bumph for me to keep track of how its slowly going down

so figures for 2013 so far below:

Total Actual payments: Jan, £1526; Feb, £1261; Mar, £911 (Total = £3697)

Original scheduled payments: Jan £711, Feb £711, Mar £711 (Total = £2133)

Payments over/above original schedule: Jan £815, Feb £550, Mar £200 (Total= £1565)

Interest saved according to my SS: Jan £211, Feb £137, Mar £49 (Total: £397)

Mortgage balance: Dec £44,737; Jan £43,360; Feb £42,243; Mar £41,473

% of mortgage now paid off: Mar 53%

LTV - (based on £110k value) Mar 39%

Months shaved off in 2013 - 3 months (20 left to shave to reach target)

Months left to pay - 5 years 5 months (65 payments) as of mar 13 my MFED is now Aug 2018

Its great to think that a) in 14 months I have taken off 15 months off the term as well as the normal 14 payments
And only 20 months left to shave to reach my 2nd target

Lois_E

As always, I am in awe of what you achieve, Pammy. Well done. :T

gallygirl

Lois_E wrote: »

As always, I am in awe of what you achieve, Pammy. Well done. :T

Seconded :T. Below 40k next month :j:j:j.

pink_poppy

Well done pammy, I don't know how you do it :T

ztan

That is some serious progress! Keep up the good work!!!

Froggy-G

Awesome!!! ... that's all I have to say

pammyj74

pink_poppy wrote: »

Well done pammy, I don't know how you do it :T

No social life being a single parent helps loads lol,