FinancialBliss: My mortgage free journey…

financialbliss

abouttimetoo wrote: »

PS, your o/s mortgage number is fab :j:j:j:j

Hi ATT,
For reasons probably best known to Nationwide, our May mortgage payment has not been collected yet. Perhaps because the first was on a Sunday and today is a bank holiday?

That said, our transfer to savings did occur on the first, so I'll see what happens after today.

When it does clear, the mortgage will dip briefly into the "28"s before ending the month at around £29,025

FB.

RosieTiger

financialbliss wrote: »

Hi ATT,
For reasons probably best known to Nationwide, our May mortgage payment has not been collected yet. Perhaps because the first was on a Sunday and today is a bank holiday?

That said, our transfer to savings did occur on the first, so I'll see what happens after today.

When it does clear, the mortgage will dip briefly into the "28"s before ending the month at around £29,025

FB.

Nice milestone to hit!

financialbliss

RosieTiger wrote: »

Nice milestone to hit!

Darn. Keep forgetting about the savings tucked aside specifically for the mortgage.

Mortgage cleared today and is showing as £28,970.89, but with mortgage savings of £450 (instead of overpayments), we're looking at a balance of £28,520.89 as of today

Just updated signature and graphs to reflect that.

FB.

financialbliss

Post once a week!

Thought I'd posted at least once this week, but turns out it was last week.

Need to get a little better organised - especially as car insurance is due in 2 weeks time.

Hope to get a few posts in during the next 7 days...

FB.

financialbliss

Quick post before I turn in. I’m feeling a bit low – financially that is.

Had made a mental note to post about this, but I think I’ve forgotten at least two items I wanted to mention. Never mind – I’ll post the ones I can remember.

Child tax credit. Found out that from April 2011 onwards, we’re no longer entitled to child tax credit. The ceiling has been reduced by £10k.

Energy (electric / gas). Normally put our meter readings in monthly, but in doing so last time around, we got a your monthly direct debit is increasing email.

Water. We’re on a water meter and again, from April we have been re-assessed based on our previous 12 months usage and projection / standing charges for the next 12 months. Our water bill has gone up massively. To be fair, I know that the management of the pipe supply is going to transfer from yourself to your water company from October 2011 – I suspect part of our increase is an administrative overhead to account for this.

Swimming. The two blisslings have swimming lessons. These are normally booked in blocks of 10 lessons a time, which were until late last year were £32.50, ie £3.25 a lesson. They then went up to £35.00 a block, but have jumped from April to £49.50 for a block of 10 lessons.

Public transpost costs. I get to work via public transport and my pass has gone up from April too.

So, to summarise:

Child tax credit: 41.65 to 0 – difference of 41.65
Energy: 79.00 to 83.00 – difference of 4.00
Water: 22.44 to 38.80 – difference of 16.36
Swimming: 29.17 to 41.25 – difference of 12.08
Public transport: 54.67 to 70 – difference of 15.33

Total difference – 89.43

As I’ve mentioned above, I’m sure that I wanted to mention a few more items, but that’s £90 a month worse off before I even start to count fuel, food costs and other items that have shot up in price.

We’re really starting to feel the increases. For the most part, the common theme appears to be “From April...”.

I’ll see how we ride it out over the coming months, but I’ve currently not got a big pot of enthusiasm for hitting 12/12/12.

Hopefully I’ll snap out of this low point and get on with keeping on top of the finances and saving money.

FB.

curlygirl1971

Those are some steep increases

Inflation up to 4.5%.....

I'm feeling the pinch too and I don't have the expense (or joy) of children

Cold comfort when you are working hard at your financial objectives but at least those of us that do OP are in a better position to weather these blusters. I think. I hope.

Keep at it FB! fight the good fight

golfiematt

you never know what round the corner financially, sometimes it better than we expect sometimes its worse. My view is it will even out over time, keep up the good work FB

GM

adwat

Don't let it get to you, 29k is a great place to be compared to where you were. Even if you don't make your deadline you're so much better off than you would have been compared to schedule. Keep up the good work!

black_taxi_2

deffo---dont feel low

when you look at mortgage balance 12/12/12 -you will feel high as a kite

12/12/12 was a target not a comp

even huge building projects with best accountants money can buy--miss there targets by ££££££££s

financialbliss

Post at least once a week - I've been good at this - posting precisely once for the last few weeks...

Quick note before I turn in. I've been extermely busy this last week, both work and home and the good news is that I've got the next week off.

We're going camping in the morning - booked 6 or 7 weeks ago, but the forecast tomorrow is heavy rain, so it looks like we're pitching with the wellies / waterproofs on. Still, looks like the weather will improve as the week progresses.

Not a masive amount of things to report on at present - car insurance excepted. Managed to shave over £100 off the renewal price. We're back on Friday evening, so more car insurance details later next week.

Finally, we will be at the half way point in the MFiT-T2 challenge shortly - looking forwards to getting some updates processed when I get back, so that I'm not as disorganised as at the last chart.

Finally (again), thanks for the support - I know we're doing comparatively well with the mortgage - especially so considering it's a 25 year term. Shouldn't beat myself up over it and I'm sure it will all come good before 12/12/12.

Financial Bliss.