Chasing the Dream

Narola1976

Morning. Another month, another update on the figures.

Previous balance: £37,705.51
Payment: £400
Interest: £35.22
New Balance: £37,340.73

Interest slightly higher this month, I assume it’s got to do with July being longer than June. Looking forward to being out of the 37’s next month

Narola1976

First day of the month and an update on the figures. I am pleased to report that we are out of the 37’s 

Previous balance: £37,340.73
Payment: £400
Interest: £34.91
New Balance: £36,975.64

It’s slow progress but I don’t have any spare to throw at it right now. Still another 8 years or so to go. My debt free date is Feb 2024, my hope is once I have paid off the debt, I will be able to redirect the money to the mortgage. With the level I am paying for debt now, I would be able to clear the mortgage fast, potentially within a year or so by the time I am debt free

Narola1976

Morning, a quick update on the figures

Previous Balance : £36,975.64
Payment : £400
Interest : £33.43
New Balance: £36,609.07

By the end of the year, we will be out of the 36’s. 

Narola1976

Another monthly update

Previous balance: £36,609.07
Payment: £400
Interest: £34.20
New balance: £36,243.27

caeler

Well done! It must be great to see such strong progress! 

Narola1976

Hello! So it has been an age since I last posted but payments have been ticking along. I have been focusing on debt payments so regrettably cannot pay more than I am already paying for the mortgage. I really hope interest rates don’t rise for a while...

Last balance noted in November 2020: £36, 243.27
New balance : £34,036.01
Interest last month was £31.10

So making good progress. If my DFD holds and I finish in 2 years, I will be able to shift my focus to the mortgage and probably be MF 2 years after that!