Our Mortgage Free Journey

Mrs_Rachel_Trelfa

JimLad wrote: »

Very!! With hindsight we would not have gone for a mortgage with a 10% restriction

Hindsight is a wonderful thing. We have a 10% limit but we are far from reaching that yet even when we can increase overpayments to £550 per month we will have to wait until the mortgage get a to £66k before it becomes an issu. That seems a long way away

JimLad

April totals are in for our "side hussle":

£80.52 from my youtube channel Adsense
£39.91 from youtube amazon affiliate sales.
£90.41 from Solar panel generation payments
£124 from renting out our spare room for 4 nights on Airbnb.

Totalling £334.84 on top of our income :-)

Gonna look into matched betting to add to the list for next month

JimLad

Made £30 from a matched bet on the Barcelona match this week. Straight in the overpayment savings pot!

JimLad

Airbnb guest checked in for 8 nights yesterday! Thats £256 for the overpayment pot.

JimLad

Another matched bet last night on the second leg of the barca game nets us another £29. I love the champs league, so many awesome offers at the bookies to take advantage of. Shame there is only a couple more games

MissWillow

We have had a good savings month this month. Pay day is in for OH and me and our savings for the mortgage overpayment fund now stands at:£15,797. We also have a nest egg of £5k for a rainy day.

If we can maintain this level of savings(£2250) per month (some months we will and some we won't) our savings fund would look like this:

22/05/2015 £15,797
22/06/2015 £18,047
22/07/2015 £20,297
22/08/2015 £22,547
22/09/2015 £24,797
22/10/2015 £27,047
22/11/2015 £29,297
22/12/2015 £31,547
22/01/2016 £33,797
22/02/2016 £36,047
22/03/2016 £38,297
22/04/2016 £40,547
22/05/2016 £42,797
22/06/2016 £45,047
22/07/2016 £47,297
22/08/2016 £49,547
22/09/2016 £51,797
22/10/2016 £54,047

This is the ambitious dream! The final date of 22nd of Oct 2016 is when our mortgage fixed term ends and we can get a better rate. If we do make the ambitions saving indicated above we would be left with a mortgage of £24k...that is a nice number (mortgage current stands at £88k)

I'm hoping with summer around the corner and all the expenses that come with it we will keep on track!

We have also had our best ever month on gaining income where we rent our spare bedroom! We just need the rest of the summer months to follow suit.

JimLad

May Totals for our side hussle are in!

£75 from my youtube channel Adsense
£24.96 from youtube amazon affiliate sales.
£80.77 from Solar panel generation payments
£633 from renting out our spare room for 20 nights on Airbnb. WOW!
£100 from 4 easy matched bets on the champtions league and premiership relegation battle!

Thats a total of £913.73. Thats almost a third salary!

Not so many airbnb bookings for June yet though so we could be down to earth with a crash.
On the up side, it should be getting sunnier!

JimLad

June Totals for our extra incomes

£72.80 from my youtube channel Adsense
£23.15 from youtube amazon affiliate sales.
£88.09 from Solar panel generation payments
£371 from renting out our spare room for 11 nights on Airbnb.

Thats a total of £555.04!

Big drop in bookings for June on airbnb, although its picked up again and we already have 16 nights in July booked in!

MissWillow

Hello everyone,

July is shaping up to be a good month for us. We are have had extra income from Airbnb which will come in at £495, plus my lovely hubby sold a lamp/alarm clock he got for free and was asked to do a review on for £100, minus fees that leaves us with £70. Also expecting about £80 for adsense.

We are doing really well with our target of getting to £54k by Oct '17 (when our fixed term ends and we can do a lump sum). We now have £21k saved (with extra put aside for a nest egg) and if we can keep going the way we are we could save £58k. It's super exciting and really motivating. Having a savings spreadsheet really works for us.

We also realised this month that a certain bank my hubby has a fixed isa with only lets you put in money for the first 60 days...quite cheeky I think. Luckily mine has no such ridiculous (in my view) set up.

Initially we set an ambitious target of clearing the mortgage in July '17 but now we are on track to clear it June'17.

We have no more big expenses for the year (we hope) and should be able to stay on track:)