What have I done....

LauraJo

Ah ok that makes sense. Thanks

niftythrifty33

Hi LauraJo, I can't believe how much you've managed to pay off your mortgage since 2011. Without reading through every page, how have you done it? I notice you made u huge payment of 17K in Dec, thats great!

Think I might read through your previous posts for encouragement

LauraJo

Thanks nt33! It's been a lot of planning a lot of luck and some scrimping! My big lump payments are from a share save scheme at work. We bought them at £4 and they went up to nearly £30 so made a lot from them... Well fluky! Then got a lodger. Saved a lot by re mortgaging and then cut back on everything. Mind you I can only be this committed because my plan showed it could be done in3-4 years so has kept me motivated! However I will say that any OP you can make will reduce the term so even if its a few quid here and there its so worth doing! I also find it quite therapeutic not spending money on rubbish. Our life revolves around dog walking, being outside and seeing what's around us. Could do with a holiday tho!!

LauraJo

Nice cheapo Spanish omlette for my dinner thanks to the chickens and an onion borrowed from the lodger... Another bonus of having a house mate!

LauraJo

Ok so good news today. I have had a pay rise at work which is £100 a month. Really pleased coz didn't think we would get one again this year coz of economy and all that.
Since my MFW plans are on track without it ... it means I can get my horse on Sat! I have it all arranged now (getting one on full loan) but will probably have to match the raise somehow to be able to pay all the costs. Worth it tho

LauraJo

I've been a good money saver today! In London which, as per previous posts always ends up costing me a foturne in coffee, brekkie and lunch!! I have to carry too much into work so carrying lunch too would probably break my back! Today I brought in a cupa soup and then stopped at Mr T express and rather than getting all the prepacked stuff, bought an apple, banana, roll, crisps and some chewing gum (really needed it after my garlicy tea last nite... poor communters on the train )

Anyway that was a grand total of 1.95 so quite a saving on the £8-9 I would normally spend!

LauraJo

My new horse is coming tomo!! Back to all the hard work
Can't wait til I'm MF and then can afford full livery :rotfl:

Good thing OH on board now as he is going to have to start propping up my plans!!

danielley

Hi there,

Just read your thread and I am really impressed by your strategy! I used to have a Mon-Fri lodger when I was single, but I dont think I could face it now, so I am in awe of your commitment!

My mortgage is £149k and I would love to make some serious inroads into reducing it, but OH is not very committed to the cause and also we are planning a family so are trying to build up some savings for that, which OH is also not very enthusiatic about either (saving not the family:rotfl:)

We are just about to remortgage and our payment will reduce by £100 pm so I am planning to keep the payment the same, just doing this will reducing our remaining term of 23 yrs down to 19.5 yrs (according to the overpayment calculators ) which is a good start.

Good luck with your challenge, I will be watching with great envy!

Alchemilla

Hope the new horse settles well.

LauraJo

danielley wrote: »

Hi there,

Just read your thread and I am really impressed by your strategy! I used to have a Mon-Fri lodger when I was single, but I dont think I could face it now, so I am in awe of your commitment!

My mortgage is £149k and I would love to make some serious inroads into reducing it, but OH is not very committed to the cause and also we are planning a family so are trying to build up some savings for that, which OH is also not very enthusiatic about either (saving not the family:rotfl:)

We are just about to remortgage and our payment will reduce by £100 pm so I am planning to keep the payment the same, just doing this will reducing our remaining term of 23 yrs down to 19.5 yrs (according to the overpayment calculators ) which is a good start.

Good luck with your challenge, I will be watching with great envy!

Aw thanks I think if you can overpay by £100 that would be fab esp if you are gonna have little ones to feed! I don't have kids so its defo easier for me.. All my money is selfish money! My Oh was well against a lodger but when I showed him how it brought the mortgage down he agreed (and we generally have girls which helps him cope :rotfl: )
Good luck in your journey be it overpayments or little ones or both !!