Mortgage free by 2023 (!)

mummytogirls

All that spending sounds very exciting DF0D... Legoland and London sound extremely exciting! Were planning on going at Spring Bank next year as me and the kids have 2 weeks off so might be asking for advice after you've been!!!

Im sure once you get back into the mentalness that is work tomorrow there will be no more spending! xx

hiddenshadow

Legoland sounds like a lot of fun!

pennystretcher

debtfreeoneday wrote: »

Forgive me diary for I have spent!! I did say it was going to be a few expensive months and I wasn't going to stop for life.

:rotfl:you and me both. The past three months I have spent, spent, spent. For me it has been DIY things, some new furniture and a new laptop (backup for when the current one goes - I'm not even remotely tempted to jump into Win10 bandwagon so wanted another win8 laptop)

BTW you mentioned in one of your old posts that you were going to try to live without TV for a month..did you actually end up doing that and how did it go?

debtfreeoneday

pennystretcher wrote: »

:rotfl:you and me both. The past three months I have spent, spent, spent. For me it has been DIY things, some new furniture and a new laptop (backup for when the current one goes - I'm not even remotely tempted to jump into Win10 bandwagon so wanted another win8 laptop)

BTW you mentioned in one of your old posts that you were going to try to live without TV for a month..did you actually end up doing that and how did it go?

Interesting you should ask, we actually managed about two days. Issue being when you turn the TV on, it does to TV and you have to turn it over to recorded stuff. Our concern was the littlies turning it on and us being done for watching live TV.. the cost for the licence and the TV is £17 a month, so back to this whole living life thing, we decided it wasn't worth it..

debtfreeoneday

What a hectic week, resulting in waking up this morning and feeling rubbish! But hey - I've a week off.

Off visiting family for the weekend, but then I've 7 days with the kids to just chill. Not even working today, just catching up on finances and planning some nice stuff for next week (just arts and crafts at home)

DH got paid so I've allocated it all out and my wages too even though they don't arrive till end of the month. CC1 now stands at £4663.05 and not sure how much that will shift this month as I need to pay more off the S@ntander CC which I've put hotels on / christmas stuff.

What I haven't done is taken account of my pay increase / back pay as I've no idea how much that will be. But it will go towards S@ntander CC as I want to close that really soon and also pay off some off the sodding car bill! Just need to find a CC I can use that gives good rewards / cashback and then I'll clear it every month.

I'm still £500 down or so paying off CC1, so I'm pleased with that and focus will definitely return at the end of December payday if not before. Just going to enjoy Christmas and birthday season.

Felt I had loads to update on and now I find I actually haven't! Have a good weekend all!

debtfreeoneday

Just made an extra OP of £52.19 to the mortgage.. £759.62 OP'd this year against a target of £1000.

Pleased we've managed to do this much this year, considering we've been tackling debt so much.. Hope to knock a month off the term this year! Which seems small fry, but it's one month less than if'd I'd done nothing, so that's something!

hiddenshadow

Woo, nice progress!

We're shopping around for CCs as well - right now we're using our Tesco credit card as that gives clubcard points, but we haven't actually used any clubcard points in ages so I don't know how useful that'll be long-term.

debtfreeoneday

Tesco was good in that we used the vouchers when they had the boost and got loads of the kids stuff at a really decent rate.. wouldn't rule out going back.. whilst I'm thinking about it = off to see what the best deal is!

debtfreeoneday

and just like that, a Mr T CC ordered.. it was fine before and we got loads of points from it. So i'm happy with what I know.. Now to clear S@ntander and say goodbye to my whole experience with them!

debtfreeoneday

Been hunting through my diary for the targets I set a while back..

2015
#1 DFW - [STRIKE]Clear CC2 [/STRIKE] DONE
#2 MFW - Overpay £1000 on the mortgage £759.62 / £1000 (will achieve this)
#3 MFW - Mortgage total sub £111,500 ( on track to do this)
#4 SAV - Save £500 to the 'month in hand' fund (what's a month in hand fund??)

I've just been working out daily interest and it's dropped from £13.22 in July to £12.71 in August to £9.79 in Sept (something so wrong there) to £12.20ish this month. That feels a lot to drop by each month, it's like 50p - not complaining, but just feels a lot. The mortgage balance should be about £111,200 - I'd dearly like to get this under £110,000 but isn't going to happen this year.

The month in hand is just a non starter at the moment, I hate having money sat there and so build some up and then fling it at the debt, I'd rather just bombard the debt.. it does worry me though that we literally have no back up.. I don't know what the best route is..


Looking ahead to 2016, I will definitely stick with 1-3, just not sure about 4. It then super scares me that it will then be 2017 and we have 6 years to find £99,999 to clear the mortgage - how the hell are we doing to find that in that time period..

2016
#1 DFW - Clear CC1
#2 MFW - Overpay £2000 on the mortgage
#3 MFW - Mortgage total sub £99,999
#4 SAV - Save £2000 to the 'month in hand' fund

Anyone starting thinking 2016 targets yet?