Pay Off Before Lay Off!

Habibiboo

Secret_Saving_Squirrel wrote: »

I love the archway too! Beautiful .

:wave:

Thanks SSS, safe to say the garden's my "chill" zone! I'm hoping you have a similar bolt hole

slowlyfading

Looking forward to your update about MF

Tilly_MFW_in_6_YRS

Bessie needs to be introduced to Little Red Hen

Tilly x x

Alchemilla

How do, May.

gallygirl

Habibiboo wrote: »

:wave:

But of course ... GallyGirl, meet May ... May, meet GallyGirl ...

Morning May :hello:

Habibiboo

Tilly_MFW_in_6_YRS wrote: »

Bessie needs to be introduced to Little Red Hen

Tilly x x

Alchemilla wrote: »

How do, May.

gallygirl wrote: »

Morning May :hello:

:wave:

May is touched by your enthusiasm, so now Bessie will want to run a comb through :rotfl:and have a photo call a bit later ... She hates to miss out on anything that girl!

apple_muncher

Alchemilla wrote: »

How do, May.

I read this, and thought, 'but it's June!'. I really must keep up!

Habibiboo

slowlyfading wrote: »

Looking forward to your update about MF

:wave:

Just mulling over the final details SF ...

Habibiboo

:wave:

MFW actions special!

Ok June 1st has arrived and with it is the launch of what I'm calling the 100 Day SMASH (thanks to A*M for giving me the 100 days momentum to add to it and to shape my thinking around).

Full title 100 Days Spotlight Mortgage Across Summer Holidays ...not that there's going to be any holiday involved for anyone around here apart from Mr. Hbbb

The thinking:

So, I'm working with 4 known facts and lots of unknowns:
According to my calculations:
Fact 1: it's 100 days from today until approx 8th September.
Fact 2: we've been averaging MOPs to the tune of an average of £600 per month over the last 3 months.
Fact 3: we'll definitely be having students from June 25th until July 29th (August still unconfirmed).
Fact 4: university haven't paid me a brass penny for all the work I've done yet, so this is likely to start trickling through any day now (please, cross fingers, promise to be good etc).

The aim:

We aim that during these 100 days we will put a total of £3,000 MOPs onto the mortgage.

This will be as well as making the standard mortgage payment, at the level required by the bank (which we have always rounded up to £1,000 per month) and so will have the broad equivalent (roughly rounded) of paying 6 months worth of mortgage payments in 3 months.

The reasons:

To bring our total owed down to less than 50% LTV which should trigger a slight reduction in the mortgage interest. This will give us:
* a useful extra way to make any MOPs worth more to us in the autumn as the uni project will have finished by then so I won't have that money coming in (I know, I know ...)
* a bit of wriggle room if the interest rates go up ... it'll cancel itself out hopefully!

To make best use of the extra money earned from uni when it does arrive.

To focus the student money straight into the mortgage and to ensure that I meal plan, cook sensibly etc to give them good, healthy meals but also give us a bit of profit which we can throw straight into the mortgage.

Oh and last but not least to tame the mortgage beast a bit so we're well on track for 2014's big aim of getting the mortgage down to 5 figures by the end of the year.

Progress updates will be in my MFW actions, I have my spreadsheet and 100 square fully drawn up and ready to go, Mr. Hbbb is totally on board and I know I have the support of the kind folk who lurk in these here parts who totally "get" why we're doing this.

So, now it's out there, it's day 1 of the 100 day SMASH and counting ...

gallygirl

Habibiboo wrote: »

:wave:

MFW actions special!

Ok June 1st has arrived and with it is the launch of what I'm calling the 100 Day SMASH (thanks to A*M for giving me the 100 days momentum to add to it and to shape my thinking around).

Full title 100 Days Spotlight Mortgage Across Summer Holidays ...not that there's going to be any holiday involved for anyone around here apart from Mr. Hbbb

The thinking:

So, I'm working with 4 known facts and lots of unknowns:
According to my calculations:
Fact 1: it's 100 days from today until approx 8th September.
Fact 2: we've been averaging MOPs to the tune of an average of £600 per month over the last 3 months.
Fact 3: we'll definitely be having students from June 25th until July 29th (August still unconfirmed).
Fact 4: university haven't paid me a brass penny for all the work I've done yet, so this is likely to start trickling through any day now (please, cross fingers, promise to be good etc).

The aim:

We aim that during these 100 days we will put a total of £3,000 MOPs onto the mortgage.

This will be as well as making the standard mortgage payment, at the level required by the bank (which we have always rounded up to £1,000 per month) and so will have the broad equivalent (roughly rounded) of paying 6 months worth of mortgage payments in 3 months.

The reasons:

To bring our total owed down to less than 50% LTV which should trigger a slight reduction in the mortgage interest. This will give us:
* a useful extra way to make any MOPs worth more to us in the autumn as the uni project will have finished by then so I won't have that money coming in (I know, I know ...)
* a bit of wriggle room if the interest rates go up ... it'll cancel itself out hopefully!

To make best use of the extra money earned from uni when it does arrive.

To focus the student money straight into the mortgage and to ensure that I meal plan, cook sensibly etc to give them good, healthy meals but also give us a bit of profit which we can throw straight into the mortgage.

Oh and last but not least to tame the mortgage beast a bit so we're well on track for 2014's big aim of getting the mortgage down to 5 figures by the end of the year.

Progress updates will be in my MFW actions, I have my spreadsheet and 100 square fully drawn up and ready to go, Mr. Hbbb is totally on board and I know I have the support of the kind folk who lurk in these here parts who totally "get" why we're doing this.

So, now it's out there, it's day 1 of the 100 day SMASH and counting ...

Whatever.

In more important news, where's Bessie?





Seriously, sounds like a good plan :T.