2.5 years MF Plan

getmore4less

I just use

http://www.whatsthecost.com/mortgage.aspx


Set to interest only and your total payment
start the mortgage amount net of the current offset.

To get the mortgage remaining and the offset pot you add back the offset savings.

redoing your numbers for £21k starting offset rather than £16k
..........£16k....£21k
3y 0m £1017...£ 870
2y 11m ..........£ 915
2y 10m ..........£ 963
.......
2y 6m £1361...£1187
2y 5m £1432...£1252


(edit: I got the number wrong now corrected)

Stressfree_WB

As its a new year, yesterday morning i de cluttered and bagged up all unwanted clothes so I can weigh them in for cash !

a good fb page to subscribe to is 10 ways to have more money as a student. It's literally for anyone looking for cheap offers , freebies , glitches at major supermarkets. It's brill !

i plan to save a minimum of 12k this year so I've subscribed to the 12k challenge!! Extra motivation for me knowing that other people are doing the same thing. I don't like to wish time away, but roll on payday !

Olderbutnotwiser

Good luck sfwb will be watching

Anna_Glypta

Stressfree_WB wrote: »

i plan to save a minimum of 12k this year so I've subscribed to the 12k challenge!! Extra motivation for me knowing that other people are doing the same thing. I don't like to wish time away, but roll on payday !

Hi - right there with you on this, both subscribing to the savings and wishing pay day would hurry up and come. Good luck, AG

Welshdreamer

Your focus and planning is an inspiration, hopefully following you will motivate and keep me on track.

pennyforthepot

Subscribed

PFTP x

teabody

Wow....totally inspired! will be following your journey!

mortgage_girl

Good luck with your 12k challenge!:)

MGx

Stressfree_WB

So since deactivating facebook and twitter yesterday to help free up distraction time and focus on what I really need to get done ( mortgage free!) I've realised I'm now being distracted on this forum !!! Hey it could be worse. Hello to the new subscribers - I feel I really need to make a success of the journey now !

Lightbulb moment yesterday when I was reading someone's post. So each month I personally budget for :
- £150-£200 spends ( sometimes my salary can be slightly up)
- £192 - save for future bills - I like to pay any bill off straight away to keep direct debits to a minimum and so i can save a consistent amount each month. Bills such as home insurance , council tax , British gas insurance .....
- £855 - direct debits ( gym membership, phone bill, mortgage and cinema membership)
- £64 necessities ( monthly food, weekly groceries, car wash and popcorn!)
- £1000 - to be saved in offset account.

For my spends and necessities, I always withdraw the money from the bank, so that I can keep track on my spending and so I'm less likely to get carried away on the debit card and spend more !

So the lightbulb moment ....From now on .... Any money left over from this pot ( spends and necessities) , even if its just pennies or pounds, I'm going to put it into my coin jar so that it can either be paid off the mortgage or straight into my offset saving account.

In 2.5 years when my savings in the offset match my mortgage balance ( roughly 50k) - I plan on doing NO MORE SAVING !!! I'm done already. I'm going to feel rich with having extra money for myself and treats for my family !

Remember - pennies make pounds!

want_to_save

hi hun have subscribed, am saving as much as i can as hope to be mf by end of the year. we have enough to do now but dont want to wipe everything out as had poorly health last year so need a bit of a buffer... so saving every penny i can