The dream!

Habibiboo

:wave:

Just stopping by to say hi and good luck with your MF journey! I agree with SSS that reducing the term is useful if you're sure you can hit the new payment without too much squeeze. Of course, Suze is right too, it's the constant slow and steady chipping away at the big numbers which is the surest method for success!

I'm also making a goal of ditching and switching on utilities and insurance (particularly insurances) this year to help save a little more to add to the over payment pot. It's worth spending 30 mins with a calendar and your insurance paperwork and marking when things are due for renewal, to remind you to shop around rather than find it's renewed itself in a costly way without you!

I have to say I did smile when you admitted to your crazy moment ~ and then admitted that you hadn't talked to OH first! Ours is a drop-down mortgage (huge overdraft jobby) and I also made a similar phone call to drop down our borrowing amount without speaking to OH first ... sometimes you just have to do these things almost as a declaration of intent (to the mortgage and finances, not OH necessarily) to show that you're really mean business where the mortgage monster's concerned!

Good luck on your journey to MF!

Miss_money_penny

Only getting to post now, been a busy week!

Thanks for your post Habibiboo, glad to hear I'm not the only one who has crazy moments!! Although I think it's all how you say it. I told him 'I've just saved us 14 thousand pound!!!!' Then he couldn't argue... thanks for tip on insurance, will check that out as I usually leave all that to OH.

I can't afford my 10% as I was hoping so I op 110 instead. Unsure whether or not I'll be able to o so by end of feb as waiting on funds coming to me. But at least I OPed something!

Roll on pay day next fri!!!

Miss_money_penny

Pay day at last! :j well I failed to meet my target of 10% by about 6450 pound... I did manage 350 though! I'm still waiting on the money coming to me but should be here by end of month so that's now February's target! Also never kept an eye on food bill. Just bought whenever so will try to keep close eye on that this month.

So now we've reached feb, I'm looking forward to March. Wishing my life away!! But all good fun in the meanwhile

Miss_money_penny

119 payments left!!! :T

Mortgage officially under 68K :j

Doing good on food this month, making use of freezer and using food in fridge and no take aways yet...

Miss_money_penny

:j:j:j:j:j:j

Money arrived today!! Woo hoo! Overpayment of 10% made.

Mortgage now down to £61 087.59

Only trouble is I can't overpay or Tilly tidy til sept which really kept me going.

Will have to Tilly tidy into my savings account... It's like mother hubbards cupboard!!:p

Miss_money_penny

Ok so it has been ages since I posted but I have been keeping up with all of your lovely diaries :A

So here's the story now. Mortgage is nearly under the 60k (will be today two weeks :j) I also reduced term to 8 years which has put payments up another £40 per month but can be afforded. This should drop again in sept with new deal.

Now the down side my car is on her last legs and I need to save 4000 to put towards new one. I know this should be my priority but as she's still going I'm just saving what I can. Mum has promised she'll help out if she dies before I get money (that's the car dies, not my mum!!!)

So still cracking away at it but think ops will have to slow down as I've pretty much run outta room to op!

Miss_money_penny

Hey,

Just thought I'd check in and share this with you all. I phoned the bank earlier this week and just asked when on the phone if I'd reached my limit of opaying for this year ( which I was told on another phone all a few months ago that I was). And I was told I could op by 250!!! So just goes to show how they can get things wrong!! I just had a feeling that I could overpay by another bit but thought it was by another 20 pound or so!

So drumroll..... I now owe £59895!! :-)

gallygirl

Oh, 60k gone and smashed your target - well done :T:T:T

Miss_money_penny

Another month over, another mortgage payment! Balance now £58789 (or something close to that) interest has dropped from £268 last year to £200.28 this year

Now I'm torn between continuing to overpay and get this thing cleared and doing up around the house, getting a decent car, and buying a nice new wardrobe....

Some days I'm so mse others I'm slipping into materialism!!

Miss_money_penny

So still tearing away on the mortgage. I'm getting ready to fix our new deal for sept. Best offers we can find are 2.49% for 2 years no fee or 3.19% for 5 no fee. Anybody any advice which is best?? Thanks in advance!