Hope is not an Effective Financial Strategy

Karmacat

      That's wonderful.  And of course it's important in our nerdish way.  Of such things are mortgage-free life made!

bubblycrazy

shangaijimmy said:
Not much advice other than to be honest and firm with people! We book them in for time slots as its the only way! And when its time to go, I get their coats for them  Including at the end of the day so Mrs SJ and me can have some time in our house to breath out, with a drink and left over trifle!!

Thanks, I may have to give it a go! I've got until November to figure it out anyway.
Love that you get their coats for them as a subtle hint 

shangaijimmy

End of day in check to report (whilst doing a victory dance) that I am the proud winner of £25 on the premium bonds draw 

And I have removed from the house a broken toy gun and another pair of holey socks!

Cheery_Daff

Gosh, you are truly winning at life today! 😁 Excellent work! 😁

badmemory

How are you adding on your interest & deducting your payments?  Could it be your mortgage lender using midnight rather than end of working day?  I am currently fortunate enough to be working the other way round, I need to accumulate assets to look after my son, long story, but I am rarely out.  I do (date2 -date1)*last balance*interest rate/365. Proper formula would be something like

=(A2-A1)*D1*0.02/365.  then of course last year was a leap year which just complicates things!  I am sure you have already got this but I do like sticking my oar in.

shangaijimmy

Thanks badmemory. The difference is due to the bank applying interest daily, which I take advantage of for example with my £1.63 overpayment yesterday, but for my spreadsheet I calculate monthly. This way it will always be in my favour! 

Delving into it further...(further adding to my MFW nerdy tendencies), I've taken the difference amount of £169.10 and divided it by the number of months of this quest/spreadsheet tracking (71)...

• £169.10 / 71 = £2.38

Therefore on average I am £2.38 per month out of sync.

Furthermore, if things continue at this rate then the date I'm hoping to mortgage neutral I may well have achieved a month earlier!!

Suffolk_lass

For me that compromise would be acceptable (because it works in your favour) and that £2.38 per month  figure will increase with compound interest saved by your regular OPs so I would not subtract that as an average to "correct" it. Of course you could go from 12 to 365(6) days but it is a lot more columns (rows) for small benefit.

Karmacat

Jimmy, congratulations on the PB win, woo hoo!

shangaijimmy

Karmacat said:

Jimmy, congratulations on the PB win, woo hoo!

I'm just mulling over what to do with the winnings amount. Every month I've been buying £250 worth of PB's that is really some holiday money. I'm now considering just sending over £225 in February and OPing the £25 winnings... Decisions, decisions...

Suffolk_lass said:

For me that compromise would be acceptable (because it works in your favour) and that £2.38 per month  figure will increase with compound interest saved by your regular OPs so I would not subtract that as an average to "correct" it. Of course you could go from 12 to 365(6) days but it is a lot more columns (rows) for small benefit.

I am more than happy with way it works and won't be correcting. I can enjoy the compound effect as it increases. I may even add a column to my spreadsheet to track the monthly differential...

shangaijimmy

Nothing much MFW happening. Mrs SJ payday is tomorrow so I can repay some of our savings that I borrowed for a week, and then get back to TTing (I haven't done this as we very slightly in our overdraft, but have the relevant 'cash' plus some more on the fridge which we will reconcile on food shop tomorrow).

Had an email from energy provider saying that they are refunding some of our credit and to expect it in the next 14 days. £24.59 so hardly life changing amounts of cash and I'm surprised they're sending it back, but hey ho... Given the amount I'll OP that as soon as it lands.

DS1 has an opticians appointment this morning. This was the first one available when we tried to book just before Christmas! Desperately needed as his favourite only have 1 arm attached (so not appropriate for physically being in school), and the spare pair are scratched so badly (they fell off the bench when he was getting changed for PE and then he kicked them across the room without realising!!) I don't know how he can see anything out of the left side! Mrs SJ is taking him and I'm left with home schooling, but I'm hoping they bring back some tasty lunchtime treats...!

Excitingly its big bin day today, and yet again ours is overflowing with declutttered carp! The exciting part is that I now the bin is soon to be empty I can make a start on house reclamation again! I will be decorating the kitchen at half term so I'll make a start on the cupboards and drawers this weekend...