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Hope is not an Effective Financial Strategy

edited 3 March 2020 at 8:18PM in Mortgage-Free Wannabe
4.1K replies 339.9K views
1152153155157158414

Replies

  • edited 30 May 2016 at 3:38PM
    shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    edited 30 May 2016 at 3:38PM
    Favourite time of the month (1day early but won't have chance tomorrow)! Another hugely successful month and definitely maintaining momentum.
    • Total OP's - £727.72
    • Closing Balance - £119,839.07
    • Net Reduction - £ 1,210.19
    • Daily Interest - £6.53 (7p reduction)
    • % Loan Remaining - 88.12%
    • LTV - 54.23%
    • Ave Net Reduction since diary - £1,077.36 (steadily climbing)

    Very exciting to colour in 2 bricks and to drop into a new 10k category :j

    The plan is to post some previous year comparisons tonight or tomorrow night.
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • lippy1923lippy1923 Forumite
    1.4K Posts
    Tenth Anniversary 1,000 Posts Combo Breaker
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    Nice OP SJ. Your OP's seem to be steadily increasing each month :)
    Total Mortgage OP £61,000
    Outstanding Mortgage £27,971
    Emergency Fund £62,100
    I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>

  • hiddenshadowhiddenshadow Forumite
    2.5K Posts
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    Very nice! Looking forward to the year-on-year comparisons.
  • Ali-OKAli-OK Forumite
    4.1K Posts
    Part of the Furniture Debt-free and Proud!
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    Very nice! Looking forward to the year-on-year comparisons.

    This!

    Well done dropping into the teens :T
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
  • EatingTheElephantEatingTheElephant Forumite
    1.4K Posts
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    Great figures :T
  • Busy_Mee1Busy_Mee1 Forumite
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    Brilliant figures :T You must be really pleased.
  • shangaijimmyshangaijimmy Forumite
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    Not got round to comparisons yet, but may well get it done before sleep time.

    Another successful month is done with a fresh one starting tomorrow. Whilst on a dog walk earlier i was weighing up the chances of being MF by 45 and it does seem a possibility if I can find an extra 10k from somewhere! I'm hoping compound effects of interest may account for 50% if I can get some favourable mortgage deals along the way.

    Thankfully only 1 birthday in June and that's my own so doesn't count!
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
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    62p TT this morning and meter readings done. We're way in credit and can switch our deal without penalty in 2 weeks so some cash back on the horizon. I need to work out how to get my cash back off first utility so I can OP it. Anyone with experience of them?

    Also I seem to have run out of current accounts for switch bonuses. Last on my list was M&S for the gift card, but I suppose we could use the card for school uniforms or Christmas.
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • shangaijimmyshangaijimmy Forumite
    3.7K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Well I've done an online form with first utility to request my £103.41 back! Apparently I'll get a reply within 48hrs... Keep you posted!
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
  • Ali-OKAli-OK Forumite
    4.1K Posts
    Part of the Furniture Debt-free and Proud!
    ✭✭✭✭
    Hope you get it quick!

    My switch from FU to iSupply happened today..but FU tell me 5-8 weeks to settle up account :eek:
    Back on the DFW Wagon:

    CC - £3,300 on 0% til 04/2020
    CC - £4,500 on 0% til 02/2019
    Loan - £12,063.84 as at 4/1/18
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