FlashBarry's £97k in 3 years MFW mission!

FlashBarry

Hello MFWs!

Another mortgage payment just went through and I have updated my Sig.

I have decided to include my ISA savings in addition to my offset savings when assessing how much we now owe. This isn't cheating is it? The ISA is technically my emergency fund, but I'm not committing it as an overpayment so I can still get at it.

I was getting in the silly position where I wanted to put extra money into the offset just so that it shows up on my spreadsheet, whereas I could be earning 2% on it in my ISA. Anyway, by doing this, it means I have had a boost on my pay-off progress and we now "only" owe £64k!

That's effectively a whopping £33,000 paid off the capital since August last year! :T Our house is very nearly half paid off! :A

In other good news, we had our second scan recently. Baby looks healthy and.... It's a Girl!!! So excited!

My car however, S T I L L hasn't sold and various bills are coming up soon (insurance, etc). I have to decide whether I want to lower the price and lose more money on it, or pay our for the bills and hold out for a better price. Either way, it's going to hit my pocket.

I'm not going to let that ruin my good mood though!

FlashBarry

Wow, I just had to dig back to page 14 of this MFW thread to find my diary! It goes to show how many folk we have bashing their mortgages down, which is fantastic! Nice work team!

Another payment has just gone in so I am now down to £59k! :beer:

We are really chuffed with our progress and although pushing £2200 into the offset each month isn't easy, it just feels normal now.

When my car sells, we will jump down to £49k which sounds unbelievable to us.

Baby bump is still growing and I can't wait for her arrival

Keep up the good MFW work all!

Hurdler

Just geting reacquianted with this thread, and can totally relate - I made the most of an horrific job to chuck similar amounts at mine and have made some great inroads, before walking away to become a (literally) penniless writer!
Back on the wagon now with a decent contract ahead of me so... fingers corssed!
Won't be anywhere near as much as you but hopefully at least 2 months at a time, which is better than a flabby fish across the face!

FlashBarry

Big milestone today-

Our house is now half paid off! :money:

We have got one more full overpayment to go before my Wife drops down to Maternity Pay and the overpayments get scaled back.

Can't wait to meet my baby girl in October

SusanneCape

Congratulations, FlashBarry. Not long to go now and well done on getting the mortgage down. Great result all around.

All the best to your wife for the birth,

hildosaver

Congratulations! Incredibly inspiring to read your diary.

FlashBarry

Mortgage day!

Our balance after offset and ISA is now just £53,300! :cool:

I have noticed that our joint account has started creeping into overdraft to the tune of about £500 at the end of each month.

We simply aren't moving enough money into the joint account as our living costs have risen. Mainly energy bills (up about £30 a month) and new gym membership (£80) so that my wife can go swimming during pregnancy. Our grocery bills are creeping up too.

I might reduce our offset payments to below target for a few months to get back to a positive balance.

Also, we could do with spending a few hundred pounds on home improvements. We haven't spent ANY proper money on treats or house improvements since our challenge started in August 2012. It feels like a long, LONG time ago now.

For some reason, it feels like we are starting to fail the challenge if we do these things. If we start slipping now, it feels like the rest of the challenge will be off!

Has anyone had a similar blip?

FlashBarry

I JUST SOLD THE CAR!!!!!!

It has taken over a year, but it has finally gone! No more extra insurance, tax, repairs, MOTs.. etc. etc. Well chuffed.

Of course, this will go straight into the Offset/ISA. This has given our MFW effort a huge boost just before we go onto maternity pay. Our overall MFiT mission is back on target!!!

:D:D:D:D

No sign of baby yet. She's taking her time it seems

[Deleted User]

Having read your diary all I can say is WOW!

Totally envious of your OPs

With HSBC i'm limited to 20% monthly overpayments so have to save into ISAs etc for onward transmission to Mort when we next remortgage.

Need to clear mine within the next 6 years so I can send my daughter to private school near my work

All the best!

FlashBarry

Thanks jeepjunkie!

My OH has recently started talking about private schools too.

I better get saving now! :eek: