FinancialBliss: My mortgage free journey…

snappybadger

Just finished reading your complete diary (it's taken a few days!!) and wanted to add my congratulations on clearing the mortgage and for writing such an inspiring thread about your journey. I am just at the start of mine and it's likely to be twice as long as yours was...but I will get there eventually! Hope you all had a wonderful time in Florida....I am taking my son in November and can't wait!

financialbliss

Evening all. OK. Quick ramble of what I’ve been up to and where I’m at. Roughly at the time of the June MFiT-T3 chart, I decided that I wasn’t happy with how variable my effort was with regard to my own finances. It’s slightly odd, but with no mortgage, I’m less driven right now.

So, put some effort in to get all the transactions in to Microsoft Money and get my head around everything. Great. Up to date and job done. Except I went off the rails quite some. Instead of keeping it up to date, I managed to let things get out of hand – went on two separate camping holidays during the six weeks holidays, a few spending sprees and managed to need to borrow some money off the kids during August and also managed to go overdrawn in early September :eek::eek::eek:

Head not in the game! Luckily, I spotted we were overdrawn and funded the current account the same day and (touch wood), we don’t appear to have attracted any charge to date.

Also spent some time recently researching savings accounts and chasing the rabbit for any decent rate I can get. Have very recently realised that current accounts appear to be the best option at present and, again, been doing research for that.

Depressingly, there looks like there may be another round of redundancies starting this autumn, but I’ve not heard much about this. I got a 1% pay increase in August, which was the first since 2009.

So, as of today, I’m (personally) up to date and organised. Starting tomorrow, I’m going to jump into the challenge thread and see if I can escape a public flogging:eek:

More to come in this diary too - I've hardly kept it up to date in 2013 and this needs to change...

FB.

PS. Nearly got taken out twice while on my bike, but still here

uzubairu

financialbliss wrote: »

Have very recently realised that current accounts appear to be the best option at present and, again, been doing research for that.

I found that to be the case too, and we have 5 current accounts with £23K in them earning 3.2% and 4% net interest. 3 of the accounts are due to expire next month, so we'll have to start hunting again.

Nice to hear that you had a bit of fun before jumping back on the wagon. You deserved it.

Take care on the bike riding. My OH rides to work every day and every now and again tells me about a near miss.
I ride to work on the days when I have early shifts (roads are clear), so I skip the crowds and the impatient drivers.

black_taxi_2

uu--do you just save not invest?

thx

black_taxi_2

uzu --do you just save not invest?

thx

uzubairu

We re-mortgaged to First Direct in 2010 to BR + 1.79%, so we are currently paying 2.29%.
We stopped overpaying the mortgage directly and saved the overpayments elsewhere with a better interest rates.

black_taxi_2

2.29 best deal u ever did

uzubairu

black_taxi wrote: »

2.29 best deal u ever did

We were on a 10 yr fix at 4.79% (until 2016) and in August paid £2K in ERCs, but we are still a few £1,000s better off after just 3 years.

financialbliss

Wow. 18 users say thanks for a returning post by me. Was my boring drivel missed? :rotfl:

Quick post before I turn in. Way to late for me to be up...:eek:

12th September.

This is an interesting day for us. We took out a 0% credit card 18 months ago. The 18 month 0% window ends on 12th September.

We have a £4,000 debt on this card. Fortunately, I’ve done a bit of forward planning and I’ve a regular saver, which drops from 6% to 1.5% in October (it has a 4.5% bonus rate), and has a balance of £3,500. The regular saver balance, regular saver interest and a small chunk of September pay should see this debt cleared.

Intending to clear this (Nationwide Select) card sometime this month and well before the payment due date. Not too bothered about a few extra pennies by leaving regular saver until the last minute before I close it - rather close it a little early and know for sure that I don't get and credit card interest rather than leave until the last minute and there be a complication in a money transfer or something.

FB.

fothers365

I didn't come across this section of the forum and your diary until after you ha paid off so I read it all like a novel.

Well done for what you have achieved and you seem to be great at juggling the stoozing. That all sounds really complicated!

Thank you also for your spreadsheet- we have that in use now and I have become a spreadsheet addict and have designed my own for all sorts of financial things now.

WE have made good in roads in the overpayments on the mortgage over the last few months but are now considering moving to the 'forever' house which could involve a massive increase in the mortgage. At least we have the tools, knowledge and willpower to start slaying it down thanks to you and others on this site.

:beer: