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Hope is not an Effective Financial Strategy

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  • shangaijimmy
    shangaijimmy Posts: 3,803 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I love to post the first link as a straight image, rather than a link, but i've no idea how!
    MFW: Was: £136,000.......Now: £47,736.58......
  • Luckyinlife
    Luckyinlife Posts: 1,613 Forumite
    I love the detail you have there really nice :]
    And well done on the over payment sources looks great :]
    Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
    Emergency fund 23k
  • choccielover
    choccielover Posts: 412 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    Love it. How did you calculate your interest if you don't mind me asking?

    Also, not sure if it will make a difference but 2016 is a leap year ;)
  • shangaijimmy
    shangaijimmy Posts: 3,803 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    edited 1 May 2015 at 11:26PM
    Good point on the leap year!! The obsessive in me won't let me settle now till I've updated the spreadsheets.

    All the data are worked out with formula on spreadsheet. The formula I punched off someone many moons ago! They're great for tweaking figures and manipulating payments to help set targets.
    MFW: Was: £136,000.......Now: £47,736.58......
  • shangaijimmy
    shangaijimmy Posts: 3,803 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    So after a successful April i'm off and running with May's overpayments. This evening i've paid off £8.04 from Nationwide, £3.96 from TSB and £3.04 from TSB (joint). So a nice early total of £15.12!

    I should get our Halifax rewards in a couple of days which will be another nice £15!

    Providing all things go as planned for May we'll get to colour another brick on our house and nudge into the £132k's.

    Keep up the good work everyone!!
    MFW: Was: £136,000.......Now: £47,736.58......
  • lippy1923
    lippy1923 Posts: 1,374 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Great start to the month!

    Weird that you haven't got your halifax rewards yet. Mine have already come through for this month!
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • shangaijimmy
    shangaijimmy Posts: 3,803 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Lippy, I have the rewards but i use tesco savings to sweep them with dd's, and that's set to the 5th of each month.

    Halifax are so generous, we have 3!
    MFW: Was: £136,000.......Now: £47,736.58......
  • lippy1923
    lippy1923 Posts: 1,374 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    shangaijimmy wrote: »
    Lippy, I have the rewards but i use tesco savings to sweep them with dd's, and that's set to the 5th of each month.

    Halifax are so generous, we have 3!

    Just watch out. Reading a thread on the savings board that peoples accounts are getting closed for "misuse of the accounts" or something like that :eek:
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • Firegirl
    Firegirl Posts: 1,007 Forumite
    Tenth Anniversary 500 Posts Name Dropper
    Really!!!!! What sort of misuse?
    Mortgage balance Feb 2015 start of MFW Journey-£245316.06/Aim to be mortgage neutral 2022 — Target for May 2024 14 Year Target Balance MF50 = £89,535 — Mortgage Balance £106, 000—Target for May 2024! £89,535

    Retirement Planning
    Starting Position (Jan 2024) : Pension 1-£165,000/Pension 2-£50,000/Pension 3-£9,500/ISA-£87,000/Total-£311,500
  • lippy1923
    lippy1923 Posts: 1,374 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Sque wrote: »
    Really!!!!! What sort of misuse?

    I don't really know tbh. Basically someone saying people who have more than 1 account "taking advantage of their rewards and not using it as a main account" etc- they don't want rate tarts and have closed some accounts and basically blacklisted them!

    It's on the banking/budgetting board if you want a read.
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

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