ATB's £171k quest begins.... NOW!

kitjos

WOW!! Well done on being at £164,500!! What an achievement in a month. It is mind boggling to think about just where our money actually went before we started making OP's ~ the amount of thousands of pounds we wasted on tit-tat stuff. Guess the important thing is that we've changed for the better now instead of wasting more money.


Brilliant on the LTV! We were hoping for 75% but just couldn't match it as stupid bank lowered our house value by 10k (from what estate agent figure would be) so ended up on 80% ltv. REALLY hate the bank owning us, even more reason to pay mortgage off asap. My aim now is to reach 60%ltv by Dec 2016. Sure you will reach the same percentage very soon .


Your OP's are huge at over 2k per month - 5 years sounds fab though. That's the same as what im pushing for (well, year 2021). Keep up the good work and motivation


xxx

Watty1

Great work so far!

atypicalblonde

Thank you both for stopping by and your lovely comments. I think the OPs may stall for March now - I have nursery fees to pay this week for the next month, and I am unsure of how much business will bring in for March.

I have really enjoyed the weather today, it has been sunny for the first time in what seems like ages which is always a joy. I have vowed not to use the tumble drier from now until Autumn, wish me luck! Our electricity bill is quite high, not helped by the fact that I work at home so the computer/kettle/ radio are always on.

Keep chipping away peeps xx

atypicalblonde

Well the weather has turned here and is once more gloomy and rainy. B'ah. On the plus side, I have decided that the tumble drier is now out of use unless absolutely necessary, which will save us a few quid on our fuel bill. I will go back to using our clothes airer in the study as we did pre-drier.

The central heating is also staying off in the daytime now and just being used to take the chill off at the childrens bathtime. We have just had confirmation from our mortgage lady that the new rate of 2.34% will kick in from 1st April, and from then our OPs will be limited to 10% of balance.

Must go and do some work but first its time for a cuppa I think x

zootie

Raining here too today. Didn't remember to turn washer on though so don't have to worry about drying it!

atypicalblonde

Good Afternoon fellow MFWs,

Another grey day here in Yorkshire, I think the sun has forgotten about our little part of the world! I hope everyone else is getting a little more sun than we are!

In MFW news, we have met our target of £2,200 OPs for this month, and the current balance is £164,300. It's so exciting to think that, by following this challenge, we will be in the 150s by May, wow! It has been a super spendy few days here, with DS birthday at the weekend, best friend's 40th birthday and I also bought myself a new coat :-) Well a girl's gotta have the odd treat every now and again right?!

Firmly back on the frugality band-wagon now. I have asked to pay the next two months nursery fees upfront so we don't have to worry about those again until May, which means that all spare money in April can be chucked at the mortgage.

I have also taken out a lease on a franking machine, which will save me huge amounts of time and a fair bit of money on postage as well - I seem to spend half my week at the Post Office sending out business mail. All the small things add up.

Keep on keeping on everyone xx

atypicalblonde

Good Afternoon All,

Wowzers its windy here in Yorkshire! Please please can we have a little bit of Spring, its really trying my patience now, this has been a very long winter.

I haven't posted for a while, OPs slowed in March as expected. Our new rate has now kicked in, and our balance as at today's date is £163,500. I have paid the nursery fees upfront which covers DS until the end of April, so all April money is going on the mortgage. The plan is to make £2,500 of OPs this month, comprised as follows:

1. £400 - sale of a large piece of garden equipment which has already been arranged and they are collecting it next week
2. £1,000 - my income. I have absolutely no idea what it will be this month, I have been busy but its mainly been non-earning things, such as organising the accounts.
3. £300 out of the household pot..

Hm.... the other £800... TBC! I will of course update as the month goes on. I catch myself looking round our home every now and again, and imagining what it would feel like to own every last bit of it... I bet its a wonderful feeling x

atypicalblonde

Ok MFWers, I have set myself a challenge. Its mental, madness, crazy etc but... here goes.

I am challenging myself to get the mortgage into the 150s... by 1st May. Bonkers I know, truly truly bonkers. That requires OPs of £3,500 this month. I have no idea how I will do this, some major brain-storming is needed I think.

But, I think, if you don't challenge yourself then you have already failed - why not give it a whirl, if it doesn't work at least I tried! I am having a meeting later when I will hopefully earn a small amount, all of that will go straight onto the mortgage. I'll keep y'all posted...

Yours ever bonkers... ATB x

Watty1

Good luck with the challenge! Ebay? Tough food economy? Extra work?
those are things I've done along the way that paid off. Bound to be more ideas surfacing.

atypicalblonde

Thanks for commenting Watty

I think I have a plan... More later when the littlies are in bed. Any other comments always very gratefully received,... X:D