Mortgage free by 2023 (!)

debtfreeoneday

Am going to just use this diary now to record my MFW efforts. I have some debt left to clear, but everything I do is about clearing debt and overpaying the mortgage..

Few things to list of book of face this weekend which should hopefully bring in a few pennies!

Today swimming with the little people and then we have to do some work to the guttering and fascia where the conservatory was.

Out of interest, I just checked what we would save by just paying the £40 overpayment now, it knocks 9 months off the mortgage and saves us £2129 in interest!

debtfreeoneday

Well if I'm using only this diary, there will be a lot more ramblings going on.

Strange day yesterday.. in short I've binned YNAb and gone back to my previous system.. I loved YNAb, but it did some random stuff (probably me and how I used it) but £195 I had put aside wasn't actually accounted for and this is the second time it's happened. I need to know the money I think I have is the actual money I have.

The other big thing was that the acceptance we can't continue paying the debt like this, the little people are desperate for clothes and I don't want to not have them with one pair of trousers because I've flung everything at the debt, so everytime we have some money now it's going to get spread over various 'pots'. Life goes on doesn't it and Ok, so the debt will get paid off slower, but we are so nearly there and I'm still sure we will clear it this year..

In MFW news, I've built up enough to up the monthly overpayment by another £10 bringing it up to £50, but I'm going to hang fire until the end of the month and see what my pay rise looks like to see if I can increase this to £15 or even £20.

Sold two items on bookface last for £7 and also counted up a stack of coins which will be another £37ish in the bank. Item on fleabay sold for £2.50.. all of this will go towards DH's fuel next month leaving me extra in the bank to allocate elsewhere.

That aside, with the naffy realisation we hadn't got £195 we thought we had, we bought a chinese out of the coins.. DH must have looked a pauper paying with coins for the whole lot. Not the best thing to do, but we've worked really hard over Easter on the garden and I feel back in control now so it was a treat..

Got interview for a very very part time role next week which would mean self employment (I know nothing about this) but would bring in £30 or so a month.. with limited impact on family life.

Looks another lovely day so a day of pottering, weeding, finishing off the fascia and starting to plan a set of steps which we are using the stone from the fireplace we smashed up last year. I love that we are reusing stuff wherever we can!

Back to work tomorrow and another hectic six weeks before half term again!

debtfreeoneday

With the proper figure outstanding on the loan received from the bank, I've just paid another £10 off it (a result of all the rejigging I did last night after dumping YNAb) - the balance is now £1476.. so new target is to get it into three figures by 1 June - that's working on a £250 payment each month which also means it would be gone by 1 October.. being optimistic as ever, hopefully a little earlier than that..

I'm now off to have a mooch round our mortgage lenders site to see if we are on the best mortgage deal and if not, how much it will cost to transfer.. so difficult at the moment to know whether to fix long or short term.. for me I would rather pay a little more and know the exact amount going out each month.. but still there might be a better deal.

amycool

It made me smile thinking of the takeaway people having to count all of those coins. I refuse to use those coinstar things but rarely go near my bank so our pennies tend to add up. I haven't dared to buy chip butties with them yet though.

I like flinging everything at the mortgage, but as you say, there's no point doing that if you then have to get more debt to pay for all the things you neglected whilst you were overpaying. Our house is a constant money pit but I'd rather pay off the mortgage a few months later and know that the house is okay and not going to fall down. It must be even harder with kids to think of!

Firegirl

How did you get on with getting a better deal on your mortgage? Hope you found a good deal.

debtfreeoneday

Thanks for popping in Amy and sque..

I did look at a mortgage deal and 'think' I can switch after 30 April when I'm in the last 3.5 years of my current deal, by my reckoning, I can save £30 a month and fix for another 5 years, so if that is available, I will do and simply up the mortgage overpayment by £30 a month straight away, so no real benefit month to month, but I can up the overpayment and all of this goes towards reducing the balance and term!

amycool

It would be nice to be paying off an extra £30 by doing nothing (well, apart from the effort of switching). 5 years of security is nice to have too.

I'm fixed for another year and a bit so very much hoping the interest rates don't suddenly shoot up.

debtfreeoneday

Plodding away here through the month.. doing a fair few surveys, but figure the election has a lot to do with that!

Not far off with OP and Y0Ug0v building up again. Thanks to PWPS, I've already reached payout on Panelb@se.. just waiting for the surveys to clear.

Having never done so before, I'm going to ask my boss for a pay rise next week.. I'd like to be moved to the top of my grade as this particular role I do allows for that to happen, so even though it's a small amount, I'd feel happy knowing I was valued.

Cement purchased to continue with the building work in the garden this weekend.. set of steps to be done tomorrow and with payday next week, it's a fence to keep the bull and the cows at bay!

debtfreeoneday

DH's pay day so money allocated from that, just need mine to come in next week now.

Pay rise chat didn't happen as my meeting got postponed, but hoping to have this chat next week!

Withdrew £10.10 from p-base and am on £36 on OP - so expecting to reach payout on that in next week or so.

Weather looking a little iffy today, so need to run a few errands and get little person's hair cut. Motivation and energy currently MIA, so hoping I find some get up and go soon!

debtfreeoneday

As Saturday is DH's lie in day and the little people never sleep past 6am, I'm going to read diaries on a Saturday morning as I feel I'm not very good at being on here lately.

It's also my WI day so I can update my stats on that.

So it's 1lb down on fattage this week, do feel back in the zone with that.. here is hoping for a good loss next week..

Sending £18.43 to the loan today in advance of regular payment next week. That puts me at £1458.. goal for this month is to get under £1199, I just simply can't wait until I'm in three figures.. for the sake of £199, I will give it as much of a push as I can this month, but I can't see me finding that much.

Hair cut and colour today, quite expensive, but oh so necessary!