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Taking it slowly, but doing it well. - Page 105

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Taking it slowly, but doing it well.

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
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  • Baileys_BabeBaileys_Babe Forumite
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    Over the last couple of weeks, I've read your diary Wish. I enjoy your style of writing. I both like and understand your goals and mini-goals strategy.

    Good luck with the final push to clear the mortgage.
    2021 Fashion on a ration 66/66 coupons remaining 
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Hi Bailey's Babe. Thank you for your kind words and well done on wading through the drivel. I think you are right it's all about goals and mini goals for me. I just want the mortgage gone now. It's going to get irritating soon. If I can get it below £20k by the end of July when the fixed rate ends I think I'll be happy. Shame I can't be ready to pay it off then though.

    See you around.
    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • Baileys_BabeBaileys_Babe Forumite
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    Reading your diary has started me thinking about what actions we could take to over pay our own mortgage.

    I like the idea of paying the interest as an overpayment.
    2021 Fashion on a ration 66/66 coupons remaining 
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Reading your diary has started me thinking about what actions we could take to over pay our own mortgage.

    I like the idea of paying the interest as an overpayment.

    I love this approach too - it's a concrete number and at some points has been all I've been able to overpay. Now I'm at the point where, usually my start of the month pot sweeping is enough to meet that interest amount.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Evening anyone reading.

    It's tax return season here Urgh! Not mine, mine is simple and gets done as soon as my p60's appear. But hubby's so lots of number crunching and data input going on - thank goodness for ynab! I'm also tracking the tax I've paid this year. I can't imagine I'll be over the threshold for the year, so am currently looking at a rebate of about £400. (That will be nice)

    I'm feeling incredibly poor at the moment. Oh well - we're on the downward slope to the end of the month now, only just, but it all counts.

    Car insurance renewals have been dealt with. Same provider, but a phone call ringing up saying 'is that the best you can do?' Helped a lot! We both need business class insurance on both cars, which pushes the price up a lot from some companies.
    I'm still waiting for the breakdown insurance renewal to come through. But I should have around £300 surplus in the car ins pot. I love oversaving in this way, I like the little bonuses I get.

    Mop pot isn't looking great. £90.99/£300 it's looking less likely I'll meet the target this month, but I will carry it over into next month if needed.

    Overtime and expenses sheets in - about £300 in travel expenses due.

    Not a lot happening this week at the moment. Some supply work on Wednesday or Thursday would be welcome to boost the mop pot, but I'm not holding my breath. I have plenty to do if I don't end up working and fortunately it doesn't involve spending money. Just a lot of decluttering.
    Have a good week.

    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    As if by magic the breakdown renewal has come through today, wasn't too happy with it, so rang up - said so and had the price reduced. I had about £315 left in the pot when it was done, so that's been redistributed. Shrapnel to the mop pot (now standing at £104.73/£300) and the main bulk in the house renovation pot now back up to £1000 of the £2k I want in there (but £500 of that is spoken for for the roof) however I feel much more comfortable knowing a £500 job can be done without having to touch the emergency fund.

    Car insurance & breakdown put on the 'just for points, paid off in full' credit card - so hopefully a nice lot of points winging their way to me when it is charged in Feb)

    Weekly shop done this morning for £22 due to already having lots of veg in and downgrading a couple of items from premium (MrAld!) to the 'normal' range - but it will do for a week.

    I've paid a Christmas cheque into the bank - 50% to the clothes pot & 50% to the pot for a course I want to do.

    Lazy day for Pickle and I today. Post office, library, cafe (mum's coffee) pharmacy, food shop, lots of films and swimming in a bit.

    I think that's all from me today. Come on end of the month - I'm 'ynab bored!'
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Morning quick finance update - totally ynab broke this month now, limping through for the next 10 days - booo. But, it's ynab broke, not real broke and, for that, I am grateful.

    I've accepted two days supply - today and tomorrow, so this works for two reasons, 20 days of supply is one of my 20 20s for 2020, so I'll be at 2/20 by the end of tomorrow. It will also help to improve the funds. I'll get paid a week on Friday, so it still, just(!) counts towards January's totals.
    Still don't think I'll make the mop pot target, but it will improve from its current point of £106.32/£300.
    I'll know more when pay slips are generated around Tuesday of next week.

    Right! Time to go and find some munchkins to educate!

    TTFN
    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    It's the end of the longest month in the world and we've survived.

    Highlights:
    2 days supply
    1 days overtime
    Lots of travel = lots of expenses paid

    Meaning:
    £658.08 overpaid to the mortgage (balance now £22,300 into the £21ks in Feb - woohoo)
    House and home fund up to 50% of where I want it to be but that does include the money earmarked for the roof that STILL hasn't been done. I think I need to start looking round for someone else to do it. We've been waiting since September for them to get round to doing it.

    Hubby's tax return was done yesterday so we know his 'bonus' for the year. - this comes from him putting 20% of all his income away in his 'tax account' it's a great system that really works for us. He can't have taken his bonus last year though as it's about twice what I expect it to be.

    Looking forward to Feb being the short month. I probably won't get any supply work - not available for the next two weeks, then it's half term.
    2 days overtime
    Lots of travel so good travel expenses again.

    Decorator says he can do our bedroom next week - so need to go and get the paper today - we don't need much and I don't think it's that expensive.

    We have decided to replace 2 of the downstairs radiators so I've messaged the plumber for a quote.

    I had a huge declutter this month too which is making me feel a lot better. This needs to continue in February.

    I think that's everything.

    Happy saving
    Wish
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
  • KarmacatKarmacat Forumite
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    Happy saving indeed - and happy living too, sounds like you're making great strides in sorting everything :)
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    Not counting this! 2020
    Garden fencing completed, woohoo 2021
  • wishingthemortgaheawaywishingthemortgaheaway Forumite
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    Thank you Karma. It makes me so happy to see the debt (mortgage) go down and the savings and net worth increase.

    Amazingly the mortgage account is already showing the latest interest payment £45.86 or £1.48 per day. It was over £1.50 a day when Jan's interest was added.

    So, I can now work out my mop pot for the month:

    1) interest added: £45.86/£45.86 :j
    2) nice round number: £29.26/£29.26 :j
    3) £400 capital reduction £0.79/£100
    4) £500 capital reduction 0/£100

    With the overpayments keenly sent over this morning, the mortgage now stands at a nice, round £22,000 it was £23,180 ish at the end of December, wish every month could be like January.

    Few more easy wins to come in at the start of the week but then the daily slog starts again.

    Happy saving
    Wish.
    Outstanding mortgage: £23,181 (December 19)
    MFW 2020 Challenge Member #10 0/£2318
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