Project Mortgage Neutral Begins

edinburgher

Woohoo - Glasgow! :j

ajmoney

edinburgher wrote: »

Woohoo - Glasgow! :j

I am waiting for MR AJM to tell me his rough savings now as I have a new spreadsheet page with a decreasing total or the larger mortgage to give me a better idea of the timeframe we can work towards.

A_Frayed_Knot

:j .:D

ajmoney

Proper calculations confirm that we can pay off our larger mortgage around September 2018 as we have that amount in savings now we can either use this date and the rest we save between now and then means we don't wipe our savings out completely or we can possibly pay it off even sooner! September 2020 could then be a complete mortgage free date if we overpayed the same amount, however that monthly amount is very manageable so we may not do that. Mr AJM almost showed the same enthusiasm as me when I gave him the information on the phone but got a sensible head on about the savings. We are amazed that we could possibly be mortgage free in 4 years :j

I may need to change my projected target for MTiT-T4 as I have currently said I would get the larger mortgage to £80k by Jan 2019

ajmoney

I am sleeping so badly at the moment, hence being on here this early on a Saturday. I am absolutely shattered from work and still have to work tonight. The original plan was to drive home after so I can get 2 nights in my own bed but I know I need to be sensible if I am tired and stay here tonight and drive home first thing but I know I will sleep better at home. The drive is just under 2 hours so I think I will see how I feel when we have finished. I can probably be home by 12.30 and there is a service area halfway so could stop safely for fresh air and a cuppa. I will have to see how I feel later.

I have submitted my MFiT-T4 update this morning as my daily interest will be the same for the next few days.

I am desperate to be able to do more with my money but after yesterday's revelation I just need let that sink in and become the norm and make sure I don't need to dip into my savings too much over the next couple of years!

Watty1

Amazing revelation and not long to go at all Drive safely later

ajmoney

I had momentum to keep me going on Saturday night and got home just after midnight. I am leaving to back over there again in about half an hour so glad I had a bit of extra time at home. I am working towards coming home again on Thursday this week and then I will be at home for 11 days :j

I have got free tickets to see Keep Dancing in Glasgow on Wednesday night so taking one of the people in my band, it will be nice to have the company and it is my way of thanking her for all the support she gives me.

We have been shocked to see how much energy some of our lights use now we have changed some to energy saving. It may be the downside to having a smart meter but even Mr AJM has suggested we replace the rest of the ones in the kitchen ASAP as they are our most used ones. For those of you who have a smart meter, how many bars do you have showing when you have minimal usage? We currently have some things plugged in on stand by and that is it and there are 2 bars. We need to keep the phone and sky box plugged in and clock radios that show the time but other than that I think we only have one other thing on. I am interested to compare with some of the more energy savvy people on here, this is one area we are happy not to scrimp on, especially with heating, but I am also happy to see where we can reduce if possible, even more so while Mr AJM seems to be on board.

It has been a strange few days while I let it sink in that we are likely to be mortgage free in 4 years time, or at least in a very manageable position by September 2018. I looked to see what difference it would make to pay a larger lump sum now and then carry on with our normal payments and there was absolutely no difference at all, so for now our savings are safe. As soon as we have the same amount in savings to clear the larger mortgage I am going to go for it, but I want to make sure we are paying the same each. I currently have about £8k more in savings than Mr AJM, but seeing as we have always split everything down the middle I want to continue this way. My plan is to try and build my S&S ISA up and use that money to pay my share while keeping my cash savings. I am hoping Mr AJM may be able to do the same but his S&S ISA is a lot lower than mine.

Once that mortgage has gone we have a couple of options on how to tackle the smaller mortgage. I have a feeling we will be spurred on to get rid of it in the shorter time frame but it will also depend how our savings are looking.

It is a very exciting time and has filled me with a huge sense of calm, it will mean so much for our future and will enable us to do whatever we want

ajmoney

I had the first decent night's sleep in about 2 weeks last night (just over 6 hours in one go) and am absolutely shattered. It is a good job I am going home today for 11 days :j I wonder if I have been going to bed too early.

I went with a friend to see Keep Dancing in Glasgow last night, it was amazing, trying to see if I can get Mr AJM to find some time in his diary to see it now.

Hoping to get away from work by about 1.30 today but I have a lot to do so it will be a race against time.

I have a physio appointment to test the fitness of my knee. I haven't run since the Great North Run, so nearly 7 weeks and I am really missing it. I have been warned that I will be worked very hard which I am looking forward to, I plan to gradually build exercise back into my life as I haven't been doing it as much recently.

Tomorrow's plan for my first day off is to clean the kitchen cupboards, work out what food needs using up there and the freezer and make a rough meal plan for the next week. I need to make sure I don't spend all my time doing household stuff but I am also looking forward to getting stuff done too.

ajmoney

Day 1 of 10 at home. So far I have sorted out my loose change and have £16 to take to the bank (if they still take change) and cleaned some of the kitchen cupboards. Catching up a bit on tv and putting off making a shopping list.

ajmoney

I'm not getting much inspiration with meal planning for the weekend and therefore the shopping list. I have 3 hours until I need to be back here so I really need to get a move on!