2019 Mortgage-Free Wannabes
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Well February is already looking good. At this rate we might manage a Studio in the same development as that parking space in Farringdon!Save £12k in 2024 - #2 target is £5000 only £798.34 so far
OS Grocery Challenge 2024 31.1% spent or £932.98/£3,000 annual
I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
My Debt Free Diary Get a grip Woman0 -
Suffolk_lass wrote: »Well February is already looking good. At this rate we might manage a Studio in the same development as that parking space in Farringdon!
Maybe at the end of the year :rotfl:Original mortgage: December 2017, £203,495
MFW start: April 2018, £201,800
Mortgage neutral: September 2022, mortgage redeemed: December 2022
New house, new mortgage: December 2022, £276,007
Current balance: £217,800 minus £8,300 overpayment savings pot0 -
Good morning all
I’m happy to take a lower number to help fill the gaps, currently no. 81 thanks!
Payment of £475 has been made to the mortgage in the last couple of days.
Thanks Juliecorn x0 -
Happy February everyone,
No. 23 stopping by to log my update.
February overpayment of £176 made today. Running total for the year = £302 of £5000. Slow going at the moment.2024 MFW No:23
MFiT-T6 140 -
Morning. #106 here with first February update. A bay/tree sale, TCB cashout and scheduled overpayment has seen mortgage reduced by a further £1,250. Thanks,
February total: £1,250
2019 total: £2,750 / £15,0000 -
Hello, I'd like to join please :-)
I've just made my first overpayment of £1000 for Feb 2019.
Feb total: £1000
2019 target: £1000/£12000
Thank you :-)
ThanksPrevious debt: £14K :embarasse Debt free: Sept '03 MFW#42 Mortgage OP savings £4271.18/£12000 2019 Started dating OH Mar '12, married Oct '12, Walnut born Dec ' 12 :A SPC 12: 99 £38.05/£500 Make money Jan: £412.34/£310 :T Feb: £88.79/£280 May: £215.52/£310 June: £18.98/£3000 -
Hi and happy february!!
#48 OP made £163.30.. exactly what was left in my bank account before this months pay hit!
Total OP made £445.
I've been accepted to do exam marking in the summer so fingers crossed for extra cash for OP's from that.
Also asked for a payrise yet more fingers crossed.
Also just applied for a new job for more money... fingers crossed!!!# 36 1p challenge 2024 - £421.80
#13 POYD by Christmas 24 £1925/8138…0 -
I'll take a lower number if it means helping remove those gaps. Got to love a tidy spreadsheetMrsMouse
#47 - 2020 MFW 449.29/1200
#15 - 3/6 month Emergency Fund Challenge 661.89
2019 ~~ MFW: 1122.33 / EF: £10000 -
Quick question: given interest is usually charged daily on what we owe on our mortgages, is it better to transfer small overpayments (eg under £20) straight into the mortgage account or save them up and pay once you hit, say, £100? I used to save up the smaller amounts on a previous mortgage as it felt to be really scrooge-like/scrimping (I can't think of a better description at the moment) to pay in smaller amounts than that. That sounds a bit ridiculous putting typing it out. I mean, who in a bank is going to look at the figures anyway!MrsMouse
#47 - 2020 MFW 449.29/1200
#15 - 3/6 month Emergency Fund Challenge 661.89
2019 ~~ MFW: 1122.33 / EF: £10000 -
Quick question: given interest is usually charged daily on what we owe on our mortgages, is it better to transfer small overpayments (eg under £20) straight into the mortgage account or save them up and pay once you hit, say, £100? I used to save up the smaller amounts on a previous mortgage as it felt to be really scrooge-like/scrimping (I can't think of a better description at the moment) to pay in smaller amounts than that. That sounds a bit ridiculous putting typing it out. I mean, who in a bank is going to look at the figures anyway!
If interest is charged daily then the little bits and bobs do matter, it really depends how your brain works. I used to do little stubs and drabs, but I then found it hard to keep a running total (useful if you are likely to hit the 'free' overpayment limit.
Now I break my ops down into chunks, I haven't been able to do this month's chunks yet as the interest hasn't been added to my account, but I usually have 4 mini mop pot goals a month:
1) the interest added (now under £60 a month)
2) £400 capital reduction in a month (an extra £120 ish)
3) mfw 2019 target amount - annual target on this thread divided by 12
4) make the mortgage a 'nice round number' -this was less than £10 in January to make my outstanding mortgage £28,200.
I then report once a month on this thread whatever I've managed to achieve.Outstanding mortgage: £23,181 (December 19)
MFW 2020 Challenge Member #10 0/£23180
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