Hope is not an Effective Financial Strategy

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  • Busy_Mee1
    Busy_Mee1 Posts: 1,015 Forumite
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    Wow Jimmy your 3 year figures are amazing and even more so given that you have three small children. It just goes to show that if you can be careful in your spending, you can have a good balance between being frugal and having a life. Well done !
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Thanks busy and squirrel, reading those messages means a lot. Mrs SJ was at at concert with her niece last night so i whilst she waiting in between bands i sent her those figures. With a wife that can't see the effect of month to month towards the big picture, these figures had a big effect.

    Up and at em this morning with my usual morning TT (sadly only 6p today), and spotted that out reg saver had matured. Although I've already took account of the cash on my OP spreadsheet I've really enjoyed the moment of transferring £3696.70 to the mortgage :j

    So my next job is to open our 2018 reg saver :money:
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • EatingTheElephant
    EatingTheElephant Posts: 1,373 Forumite
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    Such motivating figures, amazing progress :T

    Belated Happy diary anniversary too.
  • greent
    greent Posts: 10,671 Forumite
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    Abso - bloomin- lutely fantastic results there, jimmy! :T
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • michelle09
    michelle09 Posts: 912 Forumite
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    That is incredible Jimmy, well done. You're going to be done in no time at all, even that OP has to be nearly 4% of the outstanding balance?
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Thanks all. This forum truly is marvellous for moral support, so glad i found it and was then brave enough to do a diary.
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    michelle09 wrote: »
    That is incredible Jimmy, well done. You're going to be done in no time at all, even that OP has to be nearly 4% of the outstanding balance?
    Great of reframing it Michelle!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • michelle09
    michelle09 Posts: 912 Forumite
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    It might even catch Mrs SJs attention. :D Especially next year when it'll be a bigger percentage. :D
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
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    Really well done, SJ, it's so gratifying to be able to "zoom out" to the bigger picture and see the long-term impact of our MFW efforts.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Another hugely satisfying month. Over £500 total OP's and another brick coloured in on our house.

    Monthly Figures
    • Closing Balance - £96,102.38
    • Total OP's - £544.01
    • Net Reduction - £1,030.37
    • Daily Interest - £4.32 (4p reduction)
    • LTV - 43.49%
    • % Loan Remaining - 70.66%

    Diary Figures - 37 Months
    • Total Diary Reduction - £39,897.62
    • Total OP's - £22,110.46
    • Ave Net Reduction - £1,078.31
    • Ave OP's - £597.58
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
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