I just started my MF journey!

EchoDelta

:j

Okay, so it as just £1 to check I had it all set up properly but a journey of a thousand miles starts with a single step and all that.

Our current end date is April 2029 and our balance is £76,627.90.

Aiming for £50 per month initially and the calculator tells me this will save over £4k in interest and almost 2 years off the term.

We are also paying back our parents for loans from a few years ago when we had dry rot in our house. If anyone has ever had that you will know it is horribly destructive and we had to rebuild half the house. Luckily they were able to help with some of the costs of it. These loans are interest free and happily the money is not needed (they keep telling us to pay less, pay later, don't worry about it!) which is why we are doing MFW'ing at the same time as paying them back.

We are also saving up for another baby (we already have a 3 year old - not that I can believe it has been 3 years already!) so putting money there too.

I really love having somewhere to note down progress so thought I would start this off. I've been very inspired by all the threads on here so thank you all for giving me the boot I needed to crack on!

So here goes.....

EchoDelta

And just for the heck of it I've just transferred a fiver to mortgage.

I'm thinking when I don't buy something I usually would I'll transfer the money to the mortgage. So today I could really have bought ice creams and didn't.

£6 done

Alchemilla

Welcome and well done!

originalmiscellany

Well if you add multiples of 6 every few hours, you'll be overpaying next by £36 then by several hundred, then several thousand soon! Well done on making a positive step towards clearingyour debts off

yukkibear

welcome and well done. I think you can already see how addictive it'll become. Look forward to reading your journey

EchoDelta

Thank you all

EchoDelta

Nice frugal day with Small today. Buckets of water in the back yard made for hours of free entertainment.

£1 to mortgage today.

I've done a few hours of overtime this month and all is destined for mortgage.

EchoDelta

Friend just paid me back £8.00 I'd forgotten about lending her so bumped that over to the lovely folk at Santander

EchoDelta

Had fabulous day at the beach today. 10 hours of sunshine :cool:, picnic lunch, bbq tea, swimming in sea... Glorious. Unfortunately something has disagreed with me rather. Husband says it can't possibly be the bbq food he cooked but all I know is that it is not good to spend this much time in the bathroom in the middle of the night! Storm seems to have passed thank goodness and to cheer myself up I transferred a pound to the mortgage.

Better get some sleep now. Small will probably be up in about 4 hours god help me!

Wentthedaywell?

Best of luck Echo! I find it's all the little sums - the fiver for a mag, the £30 for the sale shoes that I never wear etc, that add up to sizeable amounts over the year. The big things like double glazing are serious decisions that get budgetted for properly.

Plug the continual trickles of wasted money and you can really make saving progress.

EchoDelta

You're so right! I'm a terrible fritterer! Turned over a new leaf this year and now feel so cross with myself for all the money I've wasted over the years buying lunch at work rather than taking something etc. I figure if I can redirect the trickle to paying more off the mortgage I won't notice that it's gone but long term it'll make a big difference.

Thank you for the good wishes.