MFW: Next step towards total freedom!

FtbDreaming

My nan was stuck with post office for years as they were the only company that would still take cash rather than direct debit (she’s resistant to change) and by September was paying £24 a month just for home phone. Now she isn’t getting out as much and uncle is paying the bills anyway I’ve finally managed to change her to a £6 a month pay as you go mobile sim! It is such a satisfaction knowing she isn’t paying all that money anymore! 

killerpeaty

It's pretty shocking how much you can spend if you're not on it. My mum's friend doesn't have the internet so it really does limit her options. Can't imagine what happens if a family is too poor for the internet, it would make life so much more expensive.

Sorry to hear you had a wobble. it's natural. It's so close now, you can do this.

caeler

89 days to go!  Day 89 is brought to you by REM, “Pop Song 89” https://youtu.be/hy83j0EFws4

I’ve had a pay day so I’ve done the money shuffle early. Here are the stats: 86.26% mortgage neutral and 16 NSDs in February so far. 

I’ve kept to a strict budget again this month so I’ve spent less than half of my allowed spending money. It all goes into the mortgage fund which ultimately becomes the emergency fund with whatever is left after redemption. 

In other news, there has been an error in my favour and if all goes to plan next month I’ll have a bit of extra cash at my disposal which means I’ll be mortgage neutral a bit earlier than expected. 20 April 2021!  So I guess that makes it Day 59 today! 

Day 59 is brought to you by Simon and Garfunkel https://youtu.be/-xhJcQEfD5s 

I’ve not quite decided if redemption day will change from what I'd planned. Maybe that will be early too! 

Viking_mfw

Oh wow! That's a major leap forward! And especially at this point. Plus 30 fewer songs to find

caeler

Viking_mfw said:

Oh wow! That's a major leap forward! And especially at this point. Plus 30 fewer songs to find

Completely unexpected but very welcome. I am treating this as the final push. 

slm6002

Great news for you

FtbDreaming

Ooh brilliant! I wouldn’t be able to resist early redemption lol x

killerpeaty

Massive jump forward! Well done.

You've probably said this before, but what is your goal for your EF?

caeler

Thanks @slm6002 @ftbdreaming @viking_mfw

I requested a redemption figure this morning based on my new potential plans and it was higher than I was expecting. I’ve run my figures and daily interest again and I’m sure it’s wrong. The value practically matches what I owe today not what I’ve calculated I owe in 2 months time. I think I’m going to ask again.  It’ll put my mind at rest. 

@killerpeaty I’m aiming for a fairly basic emergency fund. 6 months bills and spending money should do. I’ve got a few pots I’d previously drained that need refilling (holiday and car maintenance) and I need to make available some ‘fun’ money for my post mortgage bucket list. Then it’ll be about my pension. 

caeler

Nationwide's webchat couldn't help me this morning and their mortgage team are closed until tomorrow.  I just can't figure out the redemption they've given me.  It roughly equates to what I owe today + ERC whereas in 2 months time I'll have made 2 more normal monthly repayments and even adding in daily interest I should owe less in 2 months time!  I'm sure there will be a logical answer, it just means my spreadsheet is off somehow!