FinancialBliss: My mortgage free journey…

financialbliss

Cycle.
Pretty tired this evening. Cycled again, but didn't leave work until after 6.30pm.

After contemplating if it's possible to do a sub-one hour commute to work and back, I've today added a total commute column to my cycle stats sheet:

https://docs.google.com/spreadsheet/ccc?key=0AnhcWfGMRVgddGNmWGhidkNhWFZBLUZkeUNKeE5qM2c#gid=0

Means I can now analyse total commute for all commutes or by month. Can't cycle tomorrow or Thursday, but haven't ruled out Friday.

Mortgage.
Decided to transfer funds out of ING Direct today instead of 29th February. Transferred £2k out and using this £2k for mortgage payments.

Mortgage interest.
Haven't browsed back to 2008 in this diary, but I seem to recall that I didn't get any interest charged for 29th February. Interest today stands at £88.50, meaning it's currently £41.14 for February.

Will leave posting the month end interest until tomorrow in case we do get charged.

That's enough for this evening!

FB.

financialbliss

financialbliss wrote: »

Mortgage interest.
Haven't browsed back to 2008 in this diary, but I seem to recall that I didn't get any interest charged for 29th February. Interest today stands at £88.50, meaning it's currently £41.14 for February.

Will leave posting the month end interest until tomorrow in case we do get charged.

Just a quick note that our year to date interest remains at £88.50 today and I'll report interest for February as £41.14

Month end interest post this evening.

FB.

financialbliss

Quick post to reflect where the mortgage interest is as of today:

Opening Balance: 23,172.41

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

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

January: 900.00 (887.41 / 12.59) / 47.36. (1.53) / 852.64 / 22,319.77
February: 900.00 (887.41 / 12.59) / 41.14. (1.47) / 858.86 / 21,460.91

Totals: Payment / Interest / Net reduction.

Minimum: 900.00 / 41.14 / 852.64
Maximum: 900.00 / 47.36 / 858.86
Average: 900.00 / 44.25 / 855.75
Grand Total: 1,800.00 / 88.50 / 1,711.50

Balance outstanding: 21,460.91

Ring-fenced mortgage savings: 4,500.00

Net mortgage: £16,960.91


Good news is that I end February on the right side of £17k. Putting £2k towards the mortgage tomorrow, so that's roughly £14,963 or so by the time it clears. Will also end up back in the £15k's but probably only around £15,017 or so by the end of March.

Small steps. Getting there, although a little slower than I'd like...

FB.

abouttimetoo

Hi FB, yikes to your SMIDSY but lol to the abbreviation, love it. I don't blame you for not telling Mrs FB as you've said that's exactly what she is worried about. Do u wear a cycling helmet? Have you found an alternative route?

I don't know much about what kinds of protective cycling equipment is available but I have friends who are hardy snowboarders and they have an amazing array of 'serious' body armour, is there a cycling equivalent? I now that you're not looking for additional expense but it might help a little with Mrs FB and might make you feel better too as I guess a SMIDSY will be unnerving and could effect your confidence?

A big well done for your latest figures, you are doing brilliantly :j
Regards
ATT

financialbliss

abouttimetoo wrote: »

Hi FB, yikes to your SMIDSY but lol to the abbreviation, love it. I don't blame you for not telling Mrs FB as you've said that's exactly what she is worried about. Do u wear a cycling helmet? Have you found an alternative route?

There's a number of subtle and not so subtle variations on the route to work and back. I've folding cycle maps of my county plus the adjoining counties, and I can pretty much get to work on cycle paths alone, but this can take a hit on time taken. I've got a helmet and yes, I do wear it!

abouttimetoo wrote: »

I don't know much about what kinds of protective cycling equipment is available but I have friends who are hardy snowboarders and they have an amazing array of 'serious' body armour, is there a cycling equivalent?

Curious to that one. Don't honestly know. May look to see what I can find.

abouttimetoo wrote: »

A big well done for your latest figures, you are doing brilliantly

Been keeping a close eye on the mortgage over the last few days and the payment must have cleared sometime this evening.

Mortgage this evening is: 20,565.19

Mortgage savings: 5,600.00

Effective mortgage: 14,965.19 :j:j:j


With paying so little off the credit card (0% don't worry in case you've only read this page and you've just joined me), I'm starting to creep towards the credit limit.

I've got email and text alerts in place, but I'm considering applying for the Nationwide card in the next 3 or 4 weeks. Can't afford to take the risk of missing out over a few extra weeks at 0%

Using the above figure for my chart 09 value.

FB.

baffcat

You might think of investing in a helmet or handlebar-mounted camera.

It wouldn't give you protection, but the police will (will proding) view the footage if you've been hurt or feel someone's driven dangerously. It can be used as evidence in court.

Many of my friends are using them on their motorbikes now, and some of the driving shown is horrible.

financialbliss

baffcat wrote: »

You might think of investing in a helmet or handlebar-mounted camera.

Hi baffcat,
I've been loitering on cyclechat.net in recent weeks and I've seen a few people using helmet cams, rear facing cams etc. and some terrible footage too!

Have considered this myself, but haven't looked into models available or costs.

Need to get past Mrs Bliss - it's decision week this week - more later, as I've a lot going on today - work, home, chart 09 etc etc.

FB.

financialbliss

Feel the need to share some really good news.

I emailed Nationwide last week regarding their 18 month 0% card regarding availability of product, and got a standard response back saying it could be withdrawn at any time.

Deciding that a few weeks isn't really going to matter, I've just applied online for the card a few moments ago and have been accepted with a £7,500 card limit. :j:j:j

Totally delighted with this, considering I've now got £4k on the Tesco card.

Bit of careful planning with payment amounts and dates and the £7,500 credit line should see my mortgage out with it not needing paying until September 2013.

Financial Bliss.

financialbliss

Two further good news items.

Council tax.
Our council has decided to freeze their charge for the next 12 months, so I'm not seeing any increase in this - we're a band D property and pay £145 per month in council tax.

Nationwide e-ISA.
Had an email this morning advising that the bonus on this ISA which was due to expire on 31st July has been extended until 30th September.

This works out well, as I'm aiming for a quarter 4 ie, October to December mortgage completion and rather than having to look for an alternative home for the savings (currently 3.1% tax free), I should be able to just dump them into the mortgage!

More this evening if I get time...

FB.

financialbliss

Pretty much a cycling post this evening…

Got a personal best on the way into work today – 33m 42s. Was fresh, but not too cold and dry. Was actually aiming for a 12mph average on the way in as it’s up hill and I’ve been struggling to achieve anything higher than 11mph.

So, with a personal best under my belt, I decided to try for the sub-one hour total commute time this evening. Got 26m 51s on the way home, thus a total of 1h, 0m and 33s – just short.:mad:

So, the one hour commute time is certainly looking like the current challenge to go for. Cycling once more tomorrow, then having a rest day on Friday.

Need to make a decision on my annual pass by this Friday and Mrs Bliss and I don’t appear to be on the same page. I think I can do the cycling, and in fact, I’m enjoying it at present, but I suspect Mrs Bliss is going to insist on renewing the pass.

I’ve a plan though. Rather than purchase the pass through work, I could theoretically purchase the pass as a member of the general public. I won’t get the staff discount, or the payment over 12 months, but with just having applied for the Nationwide 18 month card, I could purchase outside of work, albeit at a higher price (just checked £882 presently and £927 from 8th April) and pay over 18-ish months.

Why do that? – I was going to suggest to Mrs Bliss I try full time cycling for, say 3 months and if it works out, then fine and I'm fitter and quids in, otherwise I could purchase the pass outside of work if it’s not working out.

Suspect we're going to be discussing this tomorrow. She is out at present!

FB.