One Year Count Down

Eldo1

So this is the second time on this forum, we had great delight in finding our original log-in from 2014 (although cannot for the life of me remember the e-mail address and password to access).  It stated we would be mortgage free in Jan 2020...we aren't but have made significant progress 
A little background, been in the current house 11 years, done a little updating but concentrated on the mortgage repayment predominately.  Just myself and the OH, no kids and currently no pets.  Both lucky enough to be in full time employment although my job is extremely stressful so looking to pay the mortgage off sharpish for the flexibility, to get a work life balance back and live a little!
I'm 42, OH is catching up at 38.  Current mortgage is around £70k and we are taking advantage of lockdown reduced spending and pushing all into the savings account to be able to repay the mortgage.  We have optimistically worked out that it could be done in a year which would be amazing!
Been reading the diaries and it's given me inspiration to share and hopefully gain some tips along the way.

2009 Dec Mortgage Amount: £140,000.00, Interest Rate: 2.29% Offset Variable

2020 July Mortgage Amount: £70k, Interest Rate: 1.49% 10yr Fixed, 7.7 to go.

2020 June Savings Amount: £29,156.52

Eldo1

Well first week trying really hard to be mindful with spending.  Supermarket spend had dramatically increased since lockdown so we have switched to local veg and meat boxes - cheaper, less waste and supports the local community.  Made fresh bread and yogurt so feels very much like an episode of the good life!  Coffee pods are now reserved for weekend treats and magazine subscriptions have been cancelled along with Netflix and Spotify.  We already had Amazon Prime so this was covered to some extent anyway.

From looking at the other diaries I like the idea of counting down the days until mortgage free and if we really squeeze it could be around 300.  Therefore we have started watching a box set - 1 episode a night and by the time we get to the end of the series we should be nearly there.  Might sound a little odd but daily goals keep us motivated especially when the working day has been particularly tough.

I'm still reading around the diaries for extra tips on how to be more frugal and it certainly helps with the motivation.

2020 August Mortgage Amount: £69,170  Savings Amount: £33,365

LeighofMar

Welcome. I love your countdown technique with the box sets. Whatever keeps us motivated to pay these mortgages off. 

South_coast

300 days? Wow, that's really tangible 😀

Eldo1

Thanks Leigh, yes it's quite hard not to binge watch them though - on track so far!
Hi SouthCoast,  if we can stick to the budget we are hoping 300 is achievable. We did have thoughts of moving but that would have meant 20+ years again on the mortgage and we'd love to be free of this, step back a little and start focusing on time with family and friends.  Certainly all the diaries on here are very inspiring!

Eldo1

Another month, where did August go!!  Well manage to reduce the car insurance by a few pounds and the water bill has reduced £2 / month as a result of fixing a leaking pipe last year!  Contacted top cash as I have £20 pending since last year - unusual but wondering if everything is a little slow at the moment.  Veg box scheme working well with only a few trips to Aldi to stock up on tins etc
Last count of days to mortgage free is 269 - box set series 2 out of 12!

Mortgage balance end of Aug 2020 £68,337.90
Savings balance end of Aug 2020 £36,400.00

Eldo1

Just a quick one today to keep the momentum going.  Managed to save an additional £100 and found an account that gave a better rate of interest so still feeling progress is being made.  Head down now to get through the darker months.


Mortgage balance end of Sept 2020 £67,506.85
Savings balance end of Sept 2020 £39,500.00

longway2go

Ahhh you are so so close... Keep going you got this. 

Eldo1

Thanks longway2go!  I love your quote, especially "just keep swimming!"

Eldo1

Another month, quite a tough one at work and a spendy one as well due to birthdays - also managed to mis-calculate what was left on the mortgage when the annual statement landed!  Still managed to put away and earn £1.60 of interest.  Hoping everyone else is keeping well given the current situation and the darker evenings.

Mortgage balance end of Oct 2020 £68,006.96
Savings balance end of Oct 2020 £42,000.00