I have a dream...to be a MFW

ajmoney

Just OPd another £20. Only another 2 days until we should be making a full monthly OP in 2 days, I am aiming for £460 which is why I have only OPd a small amount today, I have £230 sitting ready for my half of the big OP. Slowly and surely I will chip away at my mortgage!

ajmoney

Had a panic moment earlier. When we set up our new finances at the end of last month I put 30/09/2012 for payments to start thinking they would take them on the last day of the month. They tried to take payment to the other account today which briefly left me £600ish overdrawn and have put it back. I don't know if they will take the money tomorrow now (I get paid tonight) so may need to call them to check. I have never been overdrawn since I left university 12 and a half years ago so it is a bit annoying. Think I had better call them to put my mind at ease.

ajmoney

On hold to the bank :mad: however have just got my first private pupil and will start teaching in 3 weeks when I am back from my last trip. £30 a week extra so I am currently trying to decide what to do with it. My options are:
use this money for myself each month and any that is left gets OPd which will leave and extra wages going straight to the mortgage,
OP this money
Put this money into my ISA.

If I OP it then I should be able to equal what DH will be OPing to the mortgage. Off to play with a spreadsheet.

ajmoney

Bank have been very helpful, seeing as I had been thick and made an honest mistake if I get charged their £15 fee they are going to refund it.

Exciting times, just played about with the OP spreadsheet. Without and OPs and currently we are due to be mortgage free in January 2030, with our OPs of £460 starting this month we would be MF November 2022, if I increase this to £600 in January we will be MF October 2021. I am aiming for September 2022 but would like to be MF by July 2021 so this could actually be possible

The figures don't include any pay rises although nor do they include and interest rate increases. I think this will help lots though.

With having a pupil word of mouth is good so I may get some more pupils from this, I hope so. I was expecting a flute pupil that DH couldn't take on but the message he was given to call gave the wrong phone number so we are hoping that they may get back in touch.

I need to ask for everyone to cross their fingers. Our promotion board sat today and I am in with a very good chance. It wouldn't take effect for 18 months but would be good all the same. I am trying not to get my hopes up and am pushing it to the back of my mind but I can't help it.

Watching Martin for some inspiration.

Tilly_MFW_in_6_YRS

Hi AJ, it's hard to believe the difference OPs can make.

Good luck with the promotion board x x x x

HelenDaveKids

Its such fun playing spreadsheet. Plus fantastic to see what can be achieved.

Good luck with promotion

ammonite

Good luck with the promotion

I too love playing with spreadsheets and seeing the MFW date go down :j

ajmoney

A bit confused, I keep a note of the daily interest on my mortgage but it seems wrong on the larger mortgage today. The amount I put down for yesterday was definately right as the interest was good but today they appear to have paid me £4.80 as it is that much less than yesterday.

On a lighter and better note I have submitted my claim for my Washington trip so should be £180 better off in 3 days time, the exchange rate doesn't cover what I actually spent but it is better than nothing. I used some money from my ISA to repay Mr Ajmoney for the holiday he paid for earlier in the month and the money I owed him for getting my dollars which means I have no money left to come out of my account for October. I have £251.15 left over so need to discuss with Mr Ajmoney what we are going to do about an OP this month. I will probably OP mine anyway but I am hoping he will match the payment and we can have £400-500 go in this evening.

ajmoney

I have OPd £250, need to tell Mr AJM and see if he will do the same. He always seems quite keen in principle but we don't always talk too much about money so I don't always push too much for it. Maybe I need to get him to set up a monthly SO so I don't need to bother him with it.

numptyknownothing

When do you find out about the promotion? Keeping things crossed for you