BookWorm's MFW Chapter

BookWorm

I've been reviewing all my outgoings and DD's etc.   There is very little I can do to change or reduce them having done similar audits in recent years.  I suppose the only thing I can have much impact on is to try and minimise energy use.  However, I feel that I've done all I can without going OTT and I refuse to sit in a cold house (and accept I'm fortunate that I have the choice)

Also been looking at possible holidays.  I fancy trying somewhere new in Europe, but unsure where.   Thinking somewhere with plenty of sights to see (interesting buildings/history/etc) as I'm not one for sitting on a beach or by a pool for hours on end. 

BookWorm

First survey money of the year - £6

BookWorm

Had to pop in to share...this month is a milestone as the total of OP's made is now higher than the balance left on the mortgage

It may be slower than some but it's going the right way

BookWorm

So an unusual thing (for me) has happened this week, I've reached my max OP allowance.    Never been anywhere close before, and so wasn't keeping an eye on it.  First I knew was when a small fee was added to my mortgage (which I can track online).  It's only a few pounds, so no real harm done.  (just mentally annoying as don't want to give them more money and would have avoided had I realised!)   My renewal date is 1st June so not too long to wait.   Lesson learnt though and will keep an eye on it going forwards.    On the plus side, it's another indicator that the balance is going in the right direction... down!! lol 

My current deal remain until Sept 2025 and so will need to be mindful of the OP limit for the next couple of years.  Current thinking is that once I reach max for the year, that I will pop the rest into a savings account and will make a bulk payment at the end of my deal.  I'm hoping there won't be too much left (relatively speaking) by that time and so I can decide what my next steps will be then

BookWorm

Hi All,

Still ticking along in BW's world

Given that the last day of the year is a weekend - I did my end of year account round up and review yesterday - so posting it a little early this year.

This is the summary of where I ended up at the end of 2023:

LTV - 24.34% (down from 31.30%).

Balance - £28,000 -  (down from £36,000)

End date - no longer able to track this as the spreadsheet I was using is no longer accessible to me following a laptop change However, I'm hoping to have it gone by 2028. 

Daily interest - £1.26 (down from £1.61)

OP's for 2022 - £4,572.29  (up from last year at £3682.69 - and actually the most OP's I've made in a year since starting this journey)

Total OP's since starting MFW - £37,288.30

Surveys - £503.40  (versus £506.84 last year - very similar and I definitely do less of them these days than I once did.  Just don't have the same motivation for them as before plus I'm trying to cut down time spent on a computer/online.  When I've had some spare time this year, I've spent more if it reading for pleasure (surprise given my name lol) and it's been good to 'escape' into many new places

Not the hugest numbers but continuing to move in the right direction

BookWorm

Hi All,

I'm still plugging away.  This year has been an absolute roller coaster and one I will not be sorry to see the back of!

To give you a flavour:

Not so good:

• new fencing
• drain issue rectified
• car accident (not my fault but a pita to deal with)
• loss of beloved dogs x 2
• loss of close family friends x 2
  
• work challenges
• full bathroom renovation (with all fun of funding a suitable tradesperson beforehand)
  
• car accident (unavoidable meeting with a wild animal so arguably not my fault but still leaves me with the bill)
  

Some of the above occurred in v close succession - which is why I have felt quote overwhelmed at times.

More positive points:

• trip to Holland
• various theatre trips - drama or comedy in the main
• trip to Tenerife
• more regular catch ups with some friends that I have re-connected with in recent years
• trip to Dorset
  

Re: financials, this is the summary of where I have ended up at the end of 2024:

LTV - 18.87% (down from 24.34%).

Balance - £21,700 - (down from £28,000 -  and yes I did have to add a bit to make it a nice round number lol   )

End date - no longer able to track this as the spreadsheet I was using is no longer accessible to me.  However, I'm hoping to have it gone by 2028. 

Daily interest - £0.98 (down from £1.26 - yay for being below £1 a day)

OP's for 2022 - £2,749.07  (down from last year at £4572.29 - but was affected by the fact I had reached my OP limit early in 2024 and needed to wait til it reset in June)

Total OP's since starting MFW - £40,037.37

Surveys - £264.03  (versus £503.40 last year - way down on previous years.  However, I've had other priorities to deal with this year plus a lack of motivation for them too).

As ever, not huge numbers when compared to some.  Though it keeps moving in the right direction.

Really hoping for a more settled and less ugh 2025

BW

BookWorm

Wanted to come and  share this news...

I've just applied for my new mortgage switch (as current rate ends this month). Although I will be leaving behind my lovely low rate of 1.59% for a less lovely 4.84%, I'm pleased that I was able to get it sub 5% - as it was not looking possible not that long ago. My payments will still be less anyway as my balance is now much lower. I am also aiming for this to be my last ever switch (fingers very much crossed!)