FinancialBliss: My mortgage free journey…

gallygirl

financialbliss wrote: »

Got a £30 cash back payment from QuidCo the other day. Pondered on what do with this.

:rotfl::rotfl::rotfl:That made me chuckle FB, only on here would you find likeminded ponderers (or should that be ponderees ).

I need to think about 2012 challenges as well, especially as I'm out of the country 28th Dec to 3rd Jan so will be all behind :eek:

JoeyGrey

Hi FB, I just spent a very lazy and enjoyable weekend reading through your diary after seeing your post on Tjp70's diary.

You are now at the same level of mortgage as me, although my mortgage was never at the dizzying heights that yours started at and will take me longer to clear.

I got my mortgage 11 years ago and stupidly only ever paid the minimum whilst increasing the mortgage every time I wanted a new (to me) car. Net result = I managed to get it back down to the original £30k just over a year ago. I'd had my LBM 2 years ago and started going through my finances and throwing every penny I saved (literally every penny!) at the mortgage. I'm on my own and on a relatively low wage so am really pleased to have just broken through to the £23k mark.

My aim is to get it down by hook or by crook to £10k by Dec 2013 at the latest and then look at my choices - currently thinking offset and then letting it slowly run its course at minimum payments again whilst continuing to build my savings. I change my mind constantly tho :-)

I have spreadsheets galore and thanks to your thread now have line graphs and charts galore too

Thanks for a great read, and please don't stop - I have that horrible empty feeling you get when you finish a good book :rotfl:

Meanwhile I'm off to fill the gap with another diary - mmm who should I stalk next??

financialbliss

@JoeyGrey - sorry I've took so long to respond.

I'm juggling a few balls at present and not really managing to put in an appearence here at MSE.

Thanks for the kinds words / comments. I've probably made a few errors in my time, eg my Northern Rock shares where I theoretically lost out on about £12k - drew a line under it, moved on and learned a valuable lesson, which is often on the smalll print of TV commercials:

Shares can go down as well as up.

Haven't got a massive amount to add if the truth were known regarding the last week or so. Good news is that I get paid next week and with the Barclaycard and American Express cards out of the way, the full amount can be tucked away straight into savings. Next big bill is the mortgage on 1st January.

Have recently joined the 2012 MFW challenge - now know exactly what is needed of me after checking my figures for what seems like the fourth or fifth time.

Got a few things I want to check before turning in - kids not at school in the morning, so I'm the only one up

FB.

black_taxi_2

FB---12k loss on northern rock----thats painful----but you have recovered brilliantly

i had a serious loss---with a builder---showed me false documents he was gas safe

registered---cost me more to fix it/nearly lost the flat i live in.

i joined your MFW-3 thread to get over it--do something positive

when it comes to money---theres plenty of ways to lose it

financialbliss

black_taxi wrote: »

when it comes to money---theres plenty of ways to lose it

black taxi - a quote comes to mind with you saying that.

"I spent most of my money on booze, fast cars and fast women. The rest I wasted..."

Or something like that. May have to google that later to find out who said that. If you know, please post here!

FB.

gallygirl

financialbliss wrote: »

black taxi - a quote comes to mind with you saying that.

"I spent most of my money on booze, fast cars and fast women. The rest I wasted..."

Or something like that. May have to google that later to find out who said that. If you know, please post here!

FB.

George Best

financialbliss

On a pensions note - and hoping I don't open a can of worms...

This article interests me:
http://www.bbc.co.uk/news/business-16243824

Looks like I'll have to wait until the new year though...

FB.

financialbliss

Phew. Always seems to be last minute with me at present. Must be more organised in 2012.

Just finished wrapping a few presents for Mrs Bliss (before midnight actually). Just wanted to wish everyone who follows this thread, contributes towards this thread or just lurks a very merry Christmas and a prosperous 2012.

Thanks for all your support and for MSE for making this diary possible.

Enjoy your Christmas day - off to get some shut eye and may be back later in the evening once the kids are down...

Merry Christmas,
Financial Bliss.

financialbliss

Struggling here folks. Out of routine and well out of regular diary updates. I have managed to make a few overpayments to the mortgage, the first of which was £3.81 yesterday, which now sets the mortgage up as follows to start 2012:

Opening Balance: 33,304.75

Overpayments in Blue.
Interest in Red.
Balance in Green.

Month: Payment (Std / OP) / Interest (day) / Net reduction / Balance

January: 1,000.00 (929.33 / 70.67) / 131.57 (4.24) / 868.43 / 32,436.32
February: 1,000.00 (929.33 / 70.67) / 115.64 (4.13) / 884.52 / 31,551.96
March: 1,000.00 (929.33 / 70.67) / 124.43 (4.01) / 875.57 / 30,676.39
April: 887.41 (887.41 / 0.00) / 61.27 (2.04) / 826.14 / 29,850.25
May: 887.41 (887.41 / 0.00) / 61.62 (1.99) / 825.79 / 29,024.46
June: 887.41 (887.41 / 0.00) / 57.87 (1.93) / 829.54 / 28,194.92
July: 887.41 (887.41 / 0.00) / 58.04 (1.87) / 829.37 / 27,365.55
August: 887.41 (887.41 / 0.00) / 56.28 (1.82) / 831.13 / 26,534.42
September: 887.41 (887.41 / 0.00) / 52.76 (1.76) / 834.65 / 25,699.77
October: 887.41 (887.41 / 0.00) / 52.75 (1.70) / 834.66 / 24,865.11
November: 887.41 (887.41 / 0.00) / 49.33 (1.64) / 838.08 / 24,027.03
December: 891.22 (887.41 / 3.81) / 49.19 (1.59) / 842.03 / 23,185.00

Totals: Payment / Interest / Net reduction.

Minimum: 887.41 / 49.19 / 825.79
Maximum: 1,000.00 / 131.57 / 884.36
Average: 915.18 / 72.56 / 843.31
Grand Total: 10,990.50 / 870.75 / 10,119.75

Balance outstanding: 23,185.00

Ring-fenced mortgage savings: 2,460.00

Net mortgage: £20,725.00


Was hoping for a best case scenario of £20k ending figure for 2011, but I had set myself a target of between £20k and £21k, so I'm within that and reasonably happy.

More posts later...

FB.

pavlovs_dog

12/12/12 looks tantalisingly within grasp now FB. All the best for the new year :beer: