Seven Year Plan

Jessy103

Congratulations on paying off your debts and I wish you the best of luck with your mortgage free journey! The people on this forum are just amazing at giving support and motivation!

andy1886

Well finally sorted out my online banking . I went into my local branch to ask about finding out about getting statements but I can only get an annual one , so I found out what I needed to set it up and finally did it . I have made another £250 overpayment and my balance is now £43272 . A full month at work in front of me so spending should be minimal so looking good for this month . No bills due either so another overpayment should be achievable this month .

allmannerofthings

That's great you've sorted out online banking - I don't know what I would do without it, it's so convenient and I do like to watch the mortgage numbers go down!

andy1886

Got through July and made another overpayment of £250 this week taking my total overpayments to £1000 and my balance to £42815 which is fantastic . I realise it will take a considerable time but looking forward to getting below 40k and targeting the next 1k figure first . Fully motivated and focussed on all spare money for the rest of the year getting the balance down .

Jessy103

Great overpayments, well done!!

allmannerofthings

That's great, well done!

wildesavings

Sounds like you're doing a great job and throwing sizable chunks at the mortgage! Well done and good luck! Also I'm with you and prefer one step at a time... once I'm mortgage free I'll begin to look at other ways I can get myself in a better position for retirement. Baby steps but more steps than most make Progress not perfection is always a great rule to follow.

andy1886

Hi , yes I am definitely a small steps and one target at a time person . I like the progress not perfection motto , I am sure my method of paying the mortgage down is not perfect but at least I am doing something which has to be better than doing nothing .
This month I have managed a £350 overpayment taking the balance to £42216.07 . I have my car due its mot and service which hopefully won't throw up any problems but will still cost about £150 . Hopefully a full month at work with no unexpected expenses due .

Madcatgirl

Hi there - great steps so far! I'm with you on op ing the mortgage for peace of mind rather than s&s. However, I'm trying to slightly hedge my bets by doing a quarterly investment into my s&s and the rest on the mortgage, so I've got a small egg in that basket!

With my mortgage online banking, I can only see the current balance and not a statement. It's annoying, but at least I know the balance!

andy1886

Well no posting during October because I was unsure whether to make an overpayment or not but in the end I stayed disciplined and paid £200 . I had car bills of tax , mot and servicing to pay since the last posting but all sorted . In front of me I have house insurance which I want to pay the annual figure not monthly instalments and my breakdown cover which is less than £50 for the year for 2 cars with auto aid or whatever they call themselves now . At the end of the month we are having our Christmas getaway to London which although done on a budget will still cost a few quid . Moving through the winter there is my phone line rental which I pay in advance as a lump sum and then there will be council tax and water rates due in April to save up for and that is winter over with and the summer to look forward to with enough spare cash each month to enjoy doing stuff .