Mortgage Free Mini-Goals

mrsp1987

Got back from Manchester earlier on. Had a very interesting time on the course - learnt loads and now I've got to study for the exam next week.
Will sit down at some point tomorrow and have a look at my accounts again and see if there's anything to update. Probably not a lot at the moment, just yet.

mrsp1987

I've just signed up for the MFiT - T4 challenge. Last night I finally got around to searching for what that meant - it's been bugging me for a little while, mostly because I didn't understand what it meant. I don't like not knowing stuff. It makes me feel like an outsider. Obviously I have some issues...
Anyway, trixabelle is kindly letting people still sign up so I've thrown myself into the ring and given myself a stretch target of getting my mortgage balance down from the £99,310.76 that it is now to £80,000 by February 2019. I'm not sure if this is doable, but I'd rather give myself something to aim at and miss, than to try and get down to £95K and do it easily.
I think a challenge is good and if I don't quite reach £80,000 I'll have still made significant progress in the overall scheme of things.
Anyway, I've had some rubbish sleep this week so seeing as I've submitted my audio file before my midday deadline I think I might go for a lie-down in bed and see if I can catch some more Zzzz
Toodle-pip fellow wannabes xx

mrsp1987

:smileyhea:happyhear:kisses2::happyhear:smileyhea

P.S Happy Valentine's Day y'all

SueP19

Happy valentines mrsp from mrsp lolol
Good for you joining the challenge I set a target of £20k !!!

I think your in good company here I always feel outside, my OH is the only one who I feel "gets" me (Oh apart from DD but that's the genes lol) I bet a lot of us on this board are the same and that's probably why we are here xx

Have a good one

A_Frayed_Knot

mrsp1987 wrote: »

I've just signed up for the MFiT - T4 challenge. Last night I finally got around to searching for what that meant - it's been bugging me for a little while, mostly because I didn't understand what it meant. I don't like not knowing stuff. It makes me feel like an outsider. Obviously I have some issues...

When I first started posting, I had no idea what NSD's were :eek:............................ could only come up with No Smoking Days :rotfl::rotfl::rotfl: by the way just in case ... No Spending Days

mrsp1987

There's a lot of lingo that I'm not familiar with. Was reading a thread in the Bankruptcy forum and I had to google what OR was.
Search engines are my friend - always providing me with information and a never ending supply of lolcats

mrsp1987

So the hubby is downstairs watching Guardians of the Galaxy and seeing as I don't really do movies I've brought myself upstairs to my little office. When I was having my little nap earlier on a thought somehow drifted into my head. I have a TSB Current Account which pays 5% interest on amounts up to £2000. I have £1000 in my personal savings account. I realised that if i move that over I can get £50 a[STRIKE] month[/STRIKE] year interest!! It was kindly bought to my attention that I made a sleep addled boo-boo here. So, in my compulsive way I've corrected it so I don't get replies for the next 5 years saying, 'That's annual interest, you silly moo!.' :rotfl:
How this didn't occur to me earlier I have no idea!
I must admit I don't like having my savings in the same account as my spending. I like a distinct separation between them however I can't ignore an extra £40 a month in interest! That's an extra £500 (roughly) I could pay off the mortgage!! So I'm just going to have to get over my dislike of sharing savings and spending and as long as I have an available balance of £1100 (+ £100 agreed overdraft facility) I know that the money I am spending is my own.

I've also just acquired a pocketful of copper and silver coins. The husband has a habit of just chucking spare change on the side so I've asked if I can have it and he said yes. So, I'll just ount it all up and update my TT fund. Oh and I TT'd my current account today - I've decided that Sunday will be my TT day. Only 21p at the moment, but it'll grow I'm sure!

bunty109

mrsp1987 wrote: »

So the hubby is downstairs watching Guardians of the Galaxy and seeing as I don't really do movies I've brought myself upstairs to my little office. When I was having my little nap earlier on a thought somehow drifted into my head. I have a TSB Current Account which pays 5% interest on amounts up to £2000. I have £1000 in my personal savings account. I realised that if i move that over I can get £50 a month interest!!
How this didn't occur to me earlier I have no idea!
I must admit I don't like having my savings in the same account as my spending. I like a distinct separation between them however I can't ignore an extra £40 a month in interest! That's an extra £500 (roughly) I could pay off the mortgage!! So I'm just going to have to get over my dislike of sharing savings and spending and as long as I have an available balance of £1100 (+ £100 agreed overdraft facility) I know that the money I am spending is my own.

I've also just acquired a pocketful of copper and silver coins. The husband has a habit of just chucking spare change on the side so I've asked if I can have it and he said yes. So, I'll just ount it all up and update my TT fund. Oh and I TT'd my current account today - I've decided that Sunday will be my TT day. Only 21p at the moment, but it'll grow I'm sure!

Sorry to disappoint, but that's £50 a year, not a month, but still an extra £50 all the same. Well done!

mrsp1987

bunty109 wrote: »

Sorry to disappoint, but that's £50 a year, not a month, but still an extra £50 all the same. Well done!

:rotfl::rotfl:
This is why I shouldn't trust my thoughts when I'm half asleep!
Thank you so much for pointing that out!!!
:rotfl:

mrsp1987

So, today is Monday? I'm confused as I haven't actually been into work since Friday the 5th what with being in Manchester last week. So, I'm back in for a day tomorrow before my day off on Wednesday and then having to go back to Manchester for my exam on Thursday meaning I have Friday off instead. I tell you it gets blooming confusing only working 18.5 hours a week.
However, I have had quite a useful day today. Well, the morning was. The afternoon was spent waiting for 2 hours at a drop-in clinic so I could have the implant put in my arm. Hopefully my body agrees with it and I don't have to remember to do anything for the next 3 years. Well, other than take my AD. God help me if I forget to take that!! :eek:
What was I saying...oh morning. Yes productive morning. I made dinner as I didn't know what time I would get back and I had a sports physio appointment at 5pm too so that was done by 11am.
We're also treating ourselves to a new sofa with chaise longue aspect to it and I'm getting a comfy swivel chair thingy for my office/spare room upstairs. That's being delivered on Wednesday.
Anyway, in order to fit the massive sofa in the living room downstairs we've had to move a few things around (as in get rid of them) so we've gone through the DVD collection and figured out what we want to keep and what we want to ditch. The ditched pile is going to net us about £14 on a particular bird themed selling/buying site. This then reminded me that I have a pile of books that I wanted to trade in on the popular jungle site. Only to find out that the trade in facility closed last year :mad:
I love popular jungle site vouchers!!
I then moved onto another app I've used before similar to bird related company but for books. I've managed to shift about 25 books for just over £20 and I googled for a voucher code and found one on their twitter account which expires today for an extra 10%! Was able to shoot them off in a box from a local newsagents. So, that makes me very happy! Also, still waiting for about £70 from TCB website, and I've got a sizable expenses bill to hand in at work tomorrow which will come in handy. I'll be glad when everything is where it's supposed to be and I can start moving money into the O/P account. I want to see my nest-egg grow. :easter_ba
Soon as it hits £500 BAM, Santander won't know what's hit them!! :rotfl:
Finally got round to giving the hubby my new bank details so he has sent me half of the solar money for the last quarter. Obviously with it being winter we haven't produced much but I will take my £62 and most likely move that into the mortgage O/P account. He's also going to start diverting £40 a month into the O/P account too! I'm still waiting for him to put £10K in the S123 account though. May have to give him a nudge.

What else?

I've sat down and figured out that for me to reach my target of getting the mortgage down to £80K in 3 years I have to overpay £8,820. According to the magical spreadsheet from, is it, locoblade? I forget his name, but I'm sure you know who I mean. Anyway, according to his spreadsheet of awesomeness if we don't make an O/P in 3 years time we will be at £88,820.
This means that 8,820 / 3 = 2940 / 12 = £245 per month on average.

This could be interesting. Now if I'm lucky we may get a new project at work and I may be given more hours. However, I can't rely on this. Although if that does happen it would make this mission a bit easier.
Still, it's nice to know exactly where I stand. I know that I'm not going to meet the £245 every single month, however I'm sure there will be peaks and troughs. After doing some quick maths I've figured that monthly savings from me and hubby plus annual interest from S123 account with £10K in it (I want to push it to £20K) will give £1210 a year. So, that's about 40% of the way there each year right?
Also once I get my tax code right again I'll be about £175 a month better off. I'm currently working on what I'm earning now seeing as, well, what's what I'm earning. Pigs might fly and it may be sorted out by the 27th otherwise, fingers crossed, March 27th.

Anyway, I'm sure I've rambled on enough. I'm going to bed. I have to be up early in the morning for work