Hope is not an Effective Financial Strategy

shangaijimmy

Sorry to report that nothing significant is happening here!

Gentle TT of 22p this morning, so just one more TT to go for 2015! Then tomorrow i'll be reporting our December accounts providing the kids give me 30mins peace!

Star Wars was superb, though DS1 was a little bored at times as it was a bit long for a 6yr old. That said he can recall everything and said he really enjoyed it.

shangaijimmy

Quick post with the exciting monthly accounts. I'll be back tomorrow to analyse them properly but for now i had a 20min window to post.

Monthly Figures

• Total OP's - £610.27
• TT's - £23.35
• Closing Balance - £125,861.94
• Daily Interest now - £6.86 (6p reduction)
• Net Reduction - £1,082.98
• LTV - 56.95%
• Loan Remaining - 92.55% (remortgage in March '15)

Cumulative figures since diary and remortgage in March '15

• Cumulative OP's - £5,458.99
• Cumulative Net Reduction - £10,138.06
• Average Net Reduction - £1,013.81

Very quickly i have beaten a very ambitious end of year target by over £600, which effectively knocks a bonus month off my plan to half the term.

Thanks all for popping in, i'll be back to analyse a touch further tomorrow.

All the best...

Luckyinlife

Really great figures shang 5.5k since march is great work net reduction is huge next mile stone is 120k go get it :]

Have a nice new year shang

Ali-OK

Very well done SJ - what a great end to 2015 :T

Happy New Year!

hiddenshadow

Very nice year-end figures!

Happy New Year, looking forward to the further analysis.

debtfreeoneday

happy new year to you and Mrs SJ and boys / bump! She will be a 2016 baby then!

Great figures and progress, you are doing awesome. Well done!

lippy1923

Great end to 2015. Here's to an even better 2016 :beer:

shangaijimmy

Thanks gang. Heres to another OPing year. Off and running with a £1 TT!

shangaijimmy

My Nationwide interest took a hit today with using the money to buy our car, so it was a small £4.56 OP'd this afternoon. And that's my lot for that current account, though to be honest the 5% interest would finish in Feb anyway. So ill keep the account open and primed for a switch bonus!

I promised an analysis of my accounts, and although New Years Eve was a sober one, i've been jaded today from the late night and few hours lost sleep. So a bit later that intended (whilst i wait for the darts to start!)...

The most notable stat is daily interest is down from £7.41, to £6.86, which has the effect of monthly interest reducing from last March of £229.86 to £212.72 for this coming month! I'm made up to keep the ave net reduction over that significant £1k mark which allows a brick to be coloured every month.

I suppose the next obvious marker on the horizon is to nudge below £120k (May/June?) but for me a significant one is to have the first 31 day month with less than £200 interest (October), which should coincide with a £1 reduction in daily interest since the diary started.

Lastly i'm looking forward to March when i can start listing some stat comparisons from diary yr 1 to
year 2 etc... I'm sure that seeing the compound effects from OPing will really help with motivation. Which leads me onto to wanting to figure out how to paste tables into the text! Any advice or idiot guides welcomed...

Ali-OK

You've made excellent progress with over £1k a month :T

I'll nominate hiddenshadow for pasting table knowledge, as I've no idea how to do it either!

Looking forward to you achieving your milestones and I've found the compound effects of OPing a nice surprise - it's like more free money coming from nowhere