Forum Home » Mortgage-Free Wannabe

Cottage Countdown - Page 2

New Post Advanced Search

Coronavirus: The latest from MSE


The MSE team is working extremely hard to keep the info we have about your travel rights, cancellation rights, sick pay (and more) up to date.
The official MSE guides: UPDATED MSE Coronavirus Guides

NEWSFLASH


New, free ‘Academoney’ course from MSE and the Open University launches
All the key areas of personal finance are covered, so that you can master your money decisions


Cottage Countdown

edited 30 November -1 at 1:00AM in Mortgage-Free Wannabe
155 replies 11.5K views
2456716

Replies

  • LeighofMarLeighofMar Forumite
    233 posts
    100 Posts First Anniversary
    ✭✭
    150.00 OP made today. New mortgage balance is 49,988.97. We've made it to the 40K bracket!!! Had 79.04 left in my checking before payroll hit so that gets swept into my savings for now until next Thursday. Presents for our anniversary were only 168.00. Hubby just found his so we will open them tonight. A nice dinner and maybe a local community play should round out our anniversary weekend. I look forward to turning the phones off and having no responsibilities for a couple of days.
  • katep23katep23 Forumite
    1.4K posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭
    Well done on hitting the 40k bracket! I really like how you measure where you are against where you would be without overpayments.

  • jodles16jodles16 Forumite
    1.5K posts
    Car Insurance Carver!
    ✭✭✭
    Hope you have a wonderful anniversary!

    Sounds like you are smashing your mortgage, amazing on hitting the 40's!

    Seems like you have a handle on the debts/bills/work that is needed and I have no doubt you will have everything sorted!

    Look forward to following your journey!

    Jodles :D
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • LeighofMarLeighofMar Forumite
    233 posts
    100 Posts First Anniversary
    ✭✭
    Thanks all for the lovely anniversary well wishes. We are having fun, frugally of course, and just enjoying the weekend. He loves his new stair climber and we had our first fire in the new patio firepit last night so already using our presents. Tomorrow is back to the grind and budgets but right now it feels so nice to just spoil each other. Have a great weekend all.
  • LeighofMarLeighofMar Forumite
    233 posts
    100 Posts First Anniversary
    ✭✭
    88.97 OP made today. Mortgage balance $49,900.00.
    Date on the amortization schedule is 10/2026 so 7 years, 8 months ahead of where we should be. Hubby is pleased too.
    Now just waiting on some refunds/rebates. I already received my tax refund of 137.00. Waiting on a rebate for 89.00 from Ebates and then I have 95.00 cash I can put into savings. Sadly, these will not be for mortgage OPs though. These will go to a payment on the heater repair. Once that's done, I should be able to pay that off by end of March at the latest but aiming for mid-March. Then I will have to start rebuilding my emergency fund and house fund all over again from nothing. Oh well. Those are the breaks, and at least we had the money. A $5500.00 repair would be a shock to anyone's system so I need to be more grateful.
    Everything else seems to be fine. Our business seems to be expanding by word of mouth, which is nice. (We're electrical contractors and home inspectors). So I can regularly contribute to our retirement accounts through the business. We're terribly behind on that, :eek: but we have plans, enough determination, and the realistic expectations that we will have a very modest retirement or more like a semi-retirement where we will always run the business in some way until we die. Either way, I see it as a challenge just like being mortgage free. How much can we get into the retirement accounts by the time we reach the age we want to use them? So that's on my table as well.
    Hope everyone is having a nice week.
  • LeighofMarLeighofMar Forumite
    233 posts
    100 Posts First Anniversary
    ✭✭
    Mortgage sent off today early again since its the last payday of the month. 110.00 OP. Balance is now 49,648.00. We are on payment 133 for 12/2026. Thats 7 years and 10 months ahead. Projections look good that balance will be 49,600.00 by the end of February. I can live with that and get back to higher OPs hopefully after the debt is paid off and we are back to normal budgeting.
    We are down to the last 1000.00 on the heater debt. Hope to clear that by next payday. After that my car needs some maintenance, DH wants to go on a trip and my parents anniversary is next month. We will see what magic I can work for next month.
  • Working_MumWorking_Mum Forumite
    481 posts
    Part of the Furniture 100 Posts
    ✭✭
    Have just read your diary LeighofMar and wanted to say well done for being so focussed and determined. This is such an upliftng and positive forum and I have subscribed to cheer you on (and focus me as I stat on my own MFW journey!
  • LeighofMarLeighofMar Forumite
    233 posts
    100 Posts First Anniversary
    ✭✭
    Thank you so much for your kind words Working Mum. It is a terrific forum and we are here to cheer you on as well whenever you are ready.
  • LeighofMarLeighofMar Forumite
    233 posts
    100 Posts First Anniversary
    ✭✭
    Progress. The heater is completely paid off. After paying the last $1000, I have $23.00 in the emerg fund and $100.00 in the house fund, but it's worth it to have that gone and off our backs. Now to start refilling those pots before something else happens.

    Made an OP of $318.60 to the mortgage. Balance is now $49,281.40. Hope to have it at $49,000 by the end of the month. Need to plan, if my health allows, a trip somewhere with hubby this month, plus it's my parents' anniversary month. I'm thinking of getting them a small patio set as they have a beautiful deck that they never use since there's nowhere to sit. I've got time to think about it since it's not until the end of the month, but it sure feels like March will be very spendy.
  • Hi Leigh, thanks for taking the time to post on my diary, thought I'd come over and say hi on yours too.

    Have subscribed and will be cheering you on! Our plan will take us to age 45 in four years and we'll be trying to pay our mortgage down by a similar amount.

    I'm a big fan of the way you're numbering the payments, although we're at 5/300 and it feels like we're looking up from the bottom of a mountain...
    It ain't what you don't know that gets you into trouble. It's what you know for sure that just ain't so.
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support