Joining the quiet revolution!

gallygirl

cod3 wrote: »

Hi Lexington I have recently cobbled together a spreadsheet using Financial Bliss's instructions from this post

http://forums.moneysavingexpert.com/showpost.html?p=14965035&postcount=534

I have added an extra column for random overpayments and amended the "total payments" formula to include this. I have also highlighted three rows:

The month I will be MF if I do nothing (18 years)
The month I will be MF if I make regular overpayment by direct debits starting in April (10 years)
The month my son leaves secondary school (6 years)

It is a real eye opener to see it on screen. I recommend it! Best of luck with your mission :beer:

How do you work out your MF date? Do you have to scroll down a LONG way to find out when it alters? Someone gave me a formula to record it next to the OP:
=INDEX(D: D,MATCH(0,J:J,-1)+1,1)

Column D is my date column and column J is the mortgage balance. The cell shows the date in D when J gets to 0 or a negative figure. Very exciting wondering if the latest £8.26 will tip it over to an earlier month :rotfl:

Edit: remove the space between the and D. It changes it to a on here!

cod3

gallygirl wrote: »

How do you work out your MF date? Do you have to scroll down a LONG way to find out when it alters? Someone gave me a formula to record it next to the OP:
=INDEX(D: D,MATCH(0,J:J,-1)+1,1)

Column D is my date column and column J is the mortgage balance. The cell shows the date in D when J gets to 0 or a negative figure. Very exciting wondering if the latest £8.26 will tip it over to an earlier month :rotfl:

Edit: remove the space between the and D. It changes it to a on here!

:eek:


Thanks GG! I will have to re-read when my brain is working :rotfl: I was just scrolling down to the point where the +starting balance in column D turns into a -starting balance. But I will have a go it at your clever jiggerypokery and see what happens. I will be starting properly in April when the OP direct debits start and my mortgage rate changes.

gallygirl

cod3 wrote: »

:eek:

I know . There are some v clever people on MSE - ask a question and someone will know the answer. Someone also gave me the formula to calculate daily interest properly.

downsizer3

Sadly I can't remember what lovely person gave me their spreadsheet but I started a post asking for one and its been brilliant. Worth a try?
I find they help when you're havinga bad time with the scrimping and saving - its always a boost to see how far you've come. :beer:

cod3

gallygirl wrote: »

Someone gave me a formula to record it next to the OP:
=INDEX(D: D,MATCH(0,J:J,-1)+1,1)

Edit: remove the space between the and D. It changes it to a on here!

It works!!! :T Thanks again GG. You are a star

financialbliss

lexington013 wrote: »

Thanks gallygirl, it would be great to get a spreadsheet to use to keep me focussed! Thanks for the tip, i will PM finanacila bliss and see if she can help me out. Best regards to you, hope you are enjoying this sunny weather......:j

OMG - I've had a sex change :rotfl:

gallygirl wrote: »

Someone also gave me the formula to calculate daily interest properly.

Ahem, getting back on topic, the proper formula for daily interest is:

=K5*((1+2.5/100)^(1/365)-1)*J5

On the basis that:
K5 - Starting mortgage balance for the month
2.5 - My current mortgage rate, although this could be placed in its own column and referenced
J5 - how many days in the month

My earlier attempts produce a nearly correct result. I sometimes use the above formula in some sheets, but in any case, once the month ends, I'll place actual interest values in the sheets.

(Mr) Financial Bliss

lexington013

OOOPs sorry (Mr) financial bliss, my mistake, wonder what the ratio of M to F is on this site, get a feeling the girls are better at this than the boys...., seriously though THANKS TO EVERYONE with there help and guidance around the spreadshee:beer:ts

gallygirl

financialbliss wrote: »

h

My earlier attempts produce a nearly correct result. I sometimes use the above formula in some sheets, but in any case, once the month ends, I'll place actual interest values in the sheets.

You don't want it to be too accurate or there will be nothing to correct each month

ecoelle

My goodness...my brain aches...off to bed!

lexington013

long story short, having to decamp to girlfriends as water is off!!!!!!!!!!
Engineer arrived for low pressure now no pressure.
Two man job with pavement excavated (probably, again)
Still the sun is shining, could be worse, not officially drought conditions here in sunny scotland, unlike yorkshire. Scottish water will be back again tomorrow...............:mad: