PaddyPaws peruses the possibility...

PaddyPaws

Helloooooooo:wave:

Well, sorted out money and have OPd our "normal" £80 with the mortgage payt PLUS £71.82 so £151.82 to start of March :j

And I've updated the MFW 2013 thread AND posted my update form for the MFiT-T3 challenge.

I've just added up our OPs since January and they total £673.81 - I'm very happy with that as it's about 2/3 of what I OP'd all last year.

And the dinner is in the oven - chicken and chorizo tray bake - smells yummy!

Feeling positively :A

pinger just gone off for dinner, catch you later
PP
xxx

PaddyPaws

Decided to resurrect my diary after being MIA for a year. With extra hours at work and 2 lots of voluntary work things just kept getting more and more hectic last year and something had to give. Last year it was the MFW diary, this year it's the voluntary work and I'm sort of re-negotiating my hours at work.

So update on last year's summary:

Summary of 2009 – 2013
2009 - OP’d usual OP of £960 plus ad hoc OPs of £1,566.38
2010 - OP’d usual OP of £960 plus ad hoc OPs of £1,230.
2011 - OP’d usual OP of £960 plus ad hoc OPs of £48.39
2012 - OP’d usual OP of £960 plus ad hoc OPs of £21.78
2013 - OP'd usual OP of £960 plus ad hoc OPs of £2,435.42


Dec 2012 mortgage plus loan = £61,274.16
Dec 2013 mortgage plus loan = £52,419.39
MFdate = [STRIKE]Feb 2022[/STRIKE] May 2021 (this assumes monthly payts of £600 and that interest rate doesn’t change:rotfl:)
Daily interest = [STRIKE]£3.12[/STRIKE] £1.59 - helped by the fact we've got an off-set mortgage.

Last year I set myself some goals that I think I failed miserably on, so my next post better be an update on that...

PaddyPaws

No posts for a year then 2 in 10 mins!

Last year I set the following goals and updated them a couple of weeks later. So how did I do over the year?

1. • NOT buying lunch 3 days per week at work Starting tomorrow, need to find a flask and sort out some hm soup from the freezer Failed - still buying lunch at work
     

   • making Tilly ac tidyup type payments (but PP flavour) 62p underspend from grocery spend OP'd yesterday Still using a tilly tidy approach to any underspends against budget, sometimes it goes to the mortgage and sometimes to the holiday pot (but more of that later)
     
   • anything else I can think of to make a few pennies/pounds working on this still working on this one
     
   • keep reading other diaries for ideas need to get back into doing this
   • get back on the grocery challenge on OS have set my budget and worked out how it will work for me, will post more later. Still to register on the challenge Still haven't registered on the challenge but doing it anyway. We've done quite well over the last 12 months and stayed within budget
     
2. Review how we allocate my pay for extra hours (I might even discuss this with Mr PP ) Discussed with Mr PP, extra will be split between house/holiday/new car but odd £ and pennies will go to the mortgage (so a bit of a compromise there)Have revisited this after we bought Mr PP a "new" car in September. We now split the extra hours money between futures/holiday/house/emergencies (50%/25%/12.5%/12.5%)
   
3. Next mortgage stats goals:

• daily interest under £3 should be Feb, so aiming for under £2.75 at the moment this will be Sept13 with the OPs and extra savings in the offset we're at £1.59/day, not sure what my next target for this is.
  
• capital owing under £60k should be Feb, so aiming for under £55k. ATM (without £60 OPs) this would be Dec so be good to see if I can bring that forward If I OP the extra £60/month this should come forward to Nov Currently owe £50,411 so next target is to get under £50k which will be next month. If I manage to OP £412 this month ...
  
• MF date, currently Jan 2022, aiming for Dec 2021 (as it sounds like a year sooner :rotfl:) If I OP the extra £60/month through to Nov 15 our MFdate is Sept 21 Now May 21, would still like Nov 2019 but thinkingh Nov 2020 is my next goal

Think that's enough for now, just need to update the spreadsheets and allocate the last two weeks wages (sat in the off-set but not yet allocated to "pots" or paid to mortgage)


see ya later
PP
x

Hurdler

I really like your percentage allocation to funds pots. I am just about to batter one of my funds and was contemplating how best to pay it back - that's given me a great idea. Thanks a million!

PaddyPaws

Thanks Hurdler, hope it helps

I am better if I work out how I'm going to divvy up any extra before we get it. That way I'm not tempted to spend it on something else.

PP
X

Hurdler

PaddyPaws wrote: »

Thanks Hurdler, hope it helps

I am better if I work out how I'm going to divvy up any extra before we get it. That way I'm not tempted to spend it on something else.

PP
X

It helps massively - I have really tried to trim down my MSE Pots thanks to various misbehaving banks so now I have my Household emergency fund, my car fund (BEST bit of advice a mate gave me) and my Mortgage and everything else fund. At the moment I pay a little over three times my mortgage extra a month if I can afford it, and am not succumbing to the temptation to throw a lot more at it.

But that's because I know I have over £1K to go in redecorating the front room where the rain got in and that I am going to blow almost all of the car fund in March... so now I can set aside maybe 25% a month to top that back up and it shouldn't harm my OP goals.

Before I saw your percentages I probably would have just forgone one OP month and just chucked everything at the car fund. So long as I have enough to cover the insurance in May (which I should have) then it can build up again gradually.

PaddyPaws

Woo-hoo! just checked the bank for my calculated interest numbers. (Interest calculated daily and notified to me on 12th and added to the mortgage on the 3rd of the following month) I love February interest.

Interest for the month £93.23 - first time under £100! :j
This works out at £3.32/day

Interest after off-set £23.59 - works out at 84p/day

Year to date interest £1,312.25
after off-set £585.21

Loving my off-set mortgage!

Just had to share

So I guess my goal now is for the interest to be under £100 for a "normal" month, i.e. 31 days. Based on the above would be £102.92 - will I have done enough by next month for it to be under £100????

PP
x

Lois_E

Yay for the interest under £100 pm.

My Feb interest was £144.98, but I am looking on the bright side because last Feb it was £150.15.