QB Wolf's long and winding road

sweetdaisy

QB_Wolf wrote: »

Hi SD I'm only paying 25 a month OP at the mo' which is just a token gesture really, I'll be OK in 24 days once the bonus comes in will get me back in the black :j

I See ! From your post I thought you were OP £500 a month.

Do you do any online surveys? Onepoll, MySurvey, Valued Opinions and YouGov are good for making extra money. Though, it does take a while to be able to redeem cash/vouchers, but it all helps .

QB_Wolf

Ha ha I wish I could pay 500 a month.

I did think about surveys but I work long hours so have decided against that I'd rather use that time doing something else tbh

QB_Wolf

Well got paid my bonus but all it's really going to do is get me back on an even keel, which is good but not going to make any OPs until I'm sure I can get through the month in the black.

QB_Wolf

QB_Wolf wrote: »

Well I’ve been posting on here exactly one year – I can’t believe it, where has it gone?

So how have I got on? The headline is - in total I’m £12k better off than I was a year ago, when I look at all assets and debts. If I hadn’t have had to buy a car, it would have been a rosier picture, but I had no choice, also if the stock market hadn't dipped I'd be doing better but ho hum!

I’ve paid 10k off the mortgage, paying £30 a month less in interest, regularly being in the red is (hopefully) a thing of the past. My regular payment has dropped below £1k a month which is massive for me and I’ve been steadily increasing my SO OP off the mortgage and will pay £275 this month.

Looking forwards, everything is up in the air as we could be moving and getting an even bigger mortgage, but one thing’s for sure MFW has become a big part of my life. Whatever my mortgage is if I can get between around £12k off it in the next 12 months that would be good!

Here's my sig for posterity!!

Original amount outstanding = 187,924 Current amount outstanding =177,599
Original LTV = 80.83% Current LTV = 76.39%
Original Pay Off Date = Oct' 36 New Pay Off date = Oct' 36
Original Dly Int = 20.48 New Dly Int = 19.45 Total OP = £4700

Time for my yearly report - two years now as a MFW.


These are my current stats to compare with last year.


Start Date 25/06/2012
Original amount outstanding = 187,924 Current amount outstanding =170,092
Original LTV = 80.83% Current LTV = 73.15%
Original Pay Off Date = Oct' 36 New Pay Off date = Oct' 36
Original Dly Int = 20.48 New Dly Int = 13.31 Total OP = £7000


Slightly disappointed to be honest 8k off the mortgage in a year is less than I'd hoped. Overpaid a lot less this year


On a more positive note, daily interest is a lot less and this time next month will be into the 160s:T also managed to save about 6k so in total 14k better off than this time last year, which is actually better than the year before.


Here's to the next 12 months and I really should post more :j

Marcello

Hey QB, don't beat yourself up every overpayment is a victory, its just not possible to overpay all of the time, 8k is a great result especially with all of the compound interest you have saved.

sweetdaisy

I agree with Marcello. You have made great progress and here's :beer: to getting into the £160k's shortly.

QB_Wolf

Thanks SD, have just made a cheeky OP to get me into the 160s, will update when it shows in the account :j

QB_Wolf

£169,617.13

At last into the 160s, feels like a long time since I went through any sort of milestone (it was last October), so chuffed.:T

Will update sig later.

LydiaJ

QB_Wolf wrote: »

£169,617.13

At last into the 160s, feels like a long time since I went through any sort of milestone (it was last October), so chuffed.:T

Will update sig later.

Well done! :T:j:beer::D

Perhaps you need to pick some more frequent milestones than just every £10k. It might feel more encouraging to you.

QB_Wolf

Thanks Lydia, I'll have to think about the milestones :undecided


Looks like being a wet weekend