Project Mortgage Neutral Begins

savingholmes

Well done on the OP! A fab amount and a weight off your mind by the sound of it. If the remaining mortgage is so small of the one you re currently tackling - you may also be able to do a money transfer CC for a good rate. Worth investigating.

juliejim

Great OP AJ! It'll soon be gone and MF by 50 would be fantastic!

ajmoney

Exciting times, my OPs have never shown this quickly in my account but the correct balance is now showing for my mortgage

I have done the end of month money shuffle this evening, it is so much easier when less money is going out of my account and I know exactly what money should be in there.  I ended up not spending any of my budgeted money on fuel so I have transferred that across to my ISA, I had £35 left from my grocery budget so I moved that over too.  I have bought a gift voucher for the beauty place I normally go to ready for when this is all over and moved the extra money over from this month too.  I now just have my wages in there ready for May...plus 2p as I put the wrong amount into the calculator when I was checking what to transfer and I am not moving 2p!!!!

Tomorrow morning I can start afresh with the May budget and see if I can get through the month in the same way I have through April.  Depending on what happens with work I wonder if I can get to June without filling up with fuel.

savingholmes

Sounds like an awesome plan. Mortgage OPs can be addictive in a good way

ajmoney

So April was a good month for me thanks to closing the savings account, not needing to use my car much and therefore not much fuel and also not being able to go anywhere to spend any money.

Mortgage reduction £2377.24

Cash ISA increase £386.29 - all spare money went in here after my OPs

S&S ISA increase £1889.23 - it reduced by £3473.80 in March due to the volatility so this isn't a win yet

I don't expect May to be anywhere near this, I certainly can't make that kind of OP every month. 

I now own 45% of my house based on my mortgage vs the valuation when I bought it.

A_Frayed_Knot

ajmoney said:

Exciting times, my OPs have never shown this quickly in my account but the correct balance is now showing for my mortgage

 I now just have my wages in there ready for May...plus 2p as I put the wrong amount into the calculator when I was checking what to transfer and I am not moving 2p!!!!

Well that is certainly quick to show your o/p, I have known it to take 4/5 days depending on the weekends.

Obviously not addicted yet - I must have had it bad, I think on a couple of occasions, I moved 1p (eeek) but had nice tidy balances with 00.00 at the end.  Go on . . .     then you will have . . .   . . .   (I do miss our old emojo's  ) 

ajmoney

A_Frayed_Knot said:

ajmoney said:

Exciting times, my OPs have never shown this quickly in my account but the correct balance is now showing for my mortgage

 I now just have my wages in there ready for May...plus 2p as I put the wrong amount into the calculator when I was checking what to transfer and I am not moving 2p!!!!

Well that is certainly quick to show your o/p, I have known it to take 4/5 days depending on the weekends.

Obviously not addicted yet - I must have had it bad, I think on a couple of occasions, I moved 1p (eeek) but had nice tidy balances with 00.00 at the end.  Go on . . .     then you will have . . .   . . .   (I do miss our old emojo's  ) 

It does normally take that long, I am not sure why it was so quick this time.

My problem with tidying balances is nothing is ever actually tidy...I can tidy the current account but then the ISA or mortgage might not be a round number!  As a teenager counting my coppers I would pay in an odd amount (when you didn't have to have full bags) so my account was a round number...see this is not a new phenomenon.

savingholmes

ok you convinced me just paid £3.28 off my mortgage... A bit like AFK! Well done AJM you have had a great financial month.

A_Frayed_Knot

ajmoney said:

A_Frayed_Knot said:

ajmoney said:

Exciting times, my OPs have never shown this quickly in my account but the correct balance is now showing for my mortgage

 I now just have my wages in there ready for May...plus 2p as I put the wrong amount into the calculator when I was checking what to transfer and I am not moving 2p!!!!

Well that is certainly quick to show your o/p, I have known it to take 4/5 days depending on the weekends.

Obviously not addicted yet - I must have had it bad, I think on a couple of occasions, I moved 1p (eeek) but had nice tidy balances with 00.00 at the end.  Go on . . .     then you will have . . .   . . .   (I do miss our old emojo's  ) 

It does normally take that long, I am not sure why it was so quick this time.

My problem with tidying balances is nothing is ever actually tidy...I can tidy the current account but then the ISA or mortgage might not be a round number!  As a teenager counting my coppers I would pay in an odd amount (when you didn't have to have full bags) so my account was a round number...see this is not a new phenomenon.

Got to admit, I just used to tidy my mortgage account, the others - I just didn't look too often, so they never bothered me that much, but knowing to reduce my mortgage by any amount meant I wasn't paying interest on that figure any more.

savingholmes said:

ok you convinced me just paid £3.28 off my mortgage... A bit like AFK! Well done AJM you have had a great financial month.

Well done SH, love it !!! Hope you get addictive with it - in a nice way 

ajmoney

When I was tidying every day I also found I was leaving myself short, I might tidy my current account tonight though.  The money will be going into my ISA though, maybe later in the year I may make another extra OP to the mortgage aside from my regular monthly one.  The last couple of days have been fun, now I just have to wait which is quite frustrating.  I am looking forward to the letter coming through to tell me how much time I have reduced my smaller mortgage by.