mortgage free in 4 years hopefully...

Savingdad

Thanks, its been a hard slog for the last few years to pay off all the credit cards and overdrafts and be able to overpay as much as I do and with the end in sight albeit 4 years away I won't miss out on my family.
I have 3 offers of extra weekend work should I need to top up with the new job so I will be able to pick and choose when I do extra, hopefully earlier finish times during the week will mean I can spend time with my family as well as earning a bit extra at a second job.

Savingdad

Mortgage account has updated and I missed the 50k mark by £427, to much for me to consider an extra overpayment especially in December with 2 weeks unpaid leave so I will be satisfied with it dropping in the new year and work on my next goal of paying less than £100 a month in interest, first month should be February because it only has 28 days but the aim is to be consistently under every month.

gallygirl

savingdad wrote: »

my next goal of paying less than £100 a month in interest, first month should be February because it only has 28 days but the aim is to be consistently under every month.

:T Love all these little milestones :T

enjoyyourshoes

Hi

I like the bricks idea and will nick it !

Will add it my Excel doc as all the numbers just get in the way.

Our plan is mortgage free by Jan 2017 been working on it for the past 12 months.

Had a discussion about it last night and I just realised the enormity of being mortgage free (I think I was 22 when I got my First).

Its a massive milestone and I think it will change my way of thinking in lots of ways I have not realised as yet. Unexpected consequences and all that.

SavingDad is right in 'making memories' , but thinking back to your own memories they are often 'contrasts' (Empire State building to damming streams). Some need £'s others just Time.

Great post and threads, so thanks......

Savingdad

Well christmas is over,my last job finished on Dec 23rd and my new starts on the 2nd Jan, my pay was abysmal this month, only 1 weeks pay but I scraped my holding accounts and added my Christmas money in there as well as my sealed pot challenge money and I'm up to where I should be.
I opened a TSB classic plus account tonight and in the new year will withdraw £2000 from my bonds and put it there for the 5% interest and I will try and open a second one before the rules change at the end of January.
I will bounce my mortgage payments through the Halifax and both TSB accounts to meet the payment criteria.

Savingdad

£49,834...
Made it to below £50k and am going to aim for less than £100 a month interest in the short term and in the longer term aim for £40k remaining ainingat the end of this year so aiming to pay off £10,000 plus interest in 2015.
Im currently working 2 jobs so hope to be able to make some big overpayments in the next few months.

Dobbibill

Excellent progress - we are only into 2015 by 6 days so certainly starting with a brilliant milestone

gallygirl

Great stuff. You must be close to dropping below £3 a day interest - another little milestone chalked off :T.

shangaijimmy

Daily interest has always been a motivator for us. Getting it below £15 always seemed a big goal, but as soon as we made that then it made me thirsty for more! We're now on the cusp of breaking the £14 mark but the Christmas period has made it an agonising delay - we've been at £14.02 for seemingly an eternity! Roll on January 24th!

Savingdad

Oh I like the daily interest milestone...
A 31 day month currently produces about £106 interest so its below £100 a month as my first target and then i will aim for sub £3 a day.