Mortgage free by 2023 (!)

shangaijimmy

Absolutely fantastic news and fantastic achievement.

debtfreeoneday

Mortgage payment day and another £60 overpayment made making £260 for the year so far.. will up this to £80 now with the loan gone.. as I still need most of the money for the CC's.

Am going to try to get out of Payroll today what my net pay is so I can sit down and work out where I am this month.

Got a cheque yesterday from the very part time work I did yesterday, so chuffed that came through, but I'm done now with that..

Got a few survey sites on the verge of payout, so hoping a few surveys come through today!

Apart from that, it's errands and chilling with the little ones, rain expected this afternoon.. so will try and get everything done this morning before the heavens open!

debtfreeoneday

Got my pay figure and just worked out the totals for the month.

Figures of note are £145 total now in the emergency fund and £500 put aside for the power bill. I just need to gear myself up for ringing them!

£80 set aside for paying off CC2.. I might get this to £100 this month, but that's about it! As they are interest free, I will build the pot up in my bank account and then pay it off once a month.

Looking forward to next month to rework the figures again taking into account the lack of nursery fees to be paid!

Also thought stuff it, and upped the mortgage overpayment to £100 per month as of next month!

Got to payout with IAP and withdrew £10 Ama-zon voucher towards Xmas and sitting at £9.05 on p/base.

Really pleased with how the figures have panned out.

debtfreeoneday

Spamming my own diary a bit here, but hey that's what it is for!

So to reach MF by 2023 - I have 104 payments to do it in and we would save £15,400 ish in interest knocking 5 years and 8 months off the mortgage

Now really I'd like to do it by he end of 2022, leaving us a year before DH retires to save what would have been the mortgage payments to pay back the little people what we borrowed.. will probably be about £5000 and then build a pot of approx £10k savings for us.

That's 92 payments left to go then! I need to OP £500 a month to hit that..

Certainly food for thought!

shangaijimmy

92 payments now that is a challenge! Only 2 figures seems an eternity away for me!!

I have this niggling £80 a month extra to my standard overpayment to try and squeeze every month and it frustrates the life out of me. This month i'll be £25.13 short, unless i donate my refereeing payment this weekend!

amycool

I find it's useful to write everything down in your diary, even if it does mean lots of posts as you have lots of brainwaves!

debtfreeoneday

That's what I find amy!

SJ - I know - when you look at actual payments, i'm like - how am I ever going to clear a six figure sum in that time!

Sun is shining already and the washing is on.

Need to take the little people swimming and then it's garden, garden, garden all day to do more work on the fence and raised beds.. Really looking forward to seeing a big change out there today.

Have managed to pot £130ish this month for work on the house.. so should be able to get a decent pile of wood to keep DH going for a weekend or two with building more beds and doing the fence.. We are cladding a long wall with wood, hence why we need to buy so much of it.. but as we have 99-9% decided we won't move from here.. we want to do the garden how we would really want to rather than just painting it which is the much cheaper and easier option - but it won't look anywhere near as nice!

happy sunny day to everyone!

debtfreeoneday

Productive day in that we have used nearly all the wood we had bought.. Four raised beds made, with three dug in and one read to go in once me / DH dig the earth out the way. 1/4 of the wall cladding done.. with 2/3 raised beds left to build.. Also need to get some small stones for the paths inbetween the raised beds and some membrane to keep the weeds down under the paths..

Needless to say after all the sun and fresh air the littlies went out like lights tonight!

Weather looks a bit changeable tomorrow but hoping to get out for a few hours - there is a yurt cafe not far from us that does amazing cake.. would be rude not to really!

debtfreeoneday

Forgot to say mortgage payment made and balance is £114,444.61 with us owning 31.88% of the house now!

Will now track payments on my phone so I can work out the monthly / daily interest.

Because I'm turning into that much of a dweeb!

Luckyinlife

31.88% wont be long till you hit the 40% :]

nothing wrong with being a dweeb about it we are all sickos lol :]