1% MF challenge

turtlemoose

Well done on shifting the student loan pavlovs dog! 


paid today: £25
paid (cumulative): £105/930 (11%)
remaining: £825

My cc are almost paid off, so from June I'll be able to put the money I was paying off those in to OPs instead and get on track to complete the challenge by the end of the year. 

rara32

That's great going on the cc Turtlemoose 🙂

It's pay day today and have made a slightly higher op due to a £350 PB win in April (may there be many more to come!). So £100 extra on this months op and the rest on our family holiday at Easter.

paid today: £164.81
paid (cumulative): £479.47/1426 (33.62%)
remaining: £946.54

OH has been told his contract should be extended for another 12 months which is a relief so I can hopefully still make the target this year.

Other than that just enjoying the 🌞 when it appears.

turtlemoose

My fixed saver matured so £27 of interest as a nice little free bump to the mortgage OP!

paid (cumulative): £157/930 (17%)
remaining: £773

Plodding along! Not on target so far but confident that will pick up after the summer

rara32

Another win on the PBs this month 🎉 so an extra amount going towards OPs.

Also had an unexpected, large pay rise confirmed this month which was lovely news. I won't see any difference in my wage until next month but OH has suggested we start to plough more into the OPs. Still waiting on formal confirmation of OHs contract however so I will carry on as I am until that comes through just in case we need to pivot quickly to a plan B.

paid today: £161.27
paid (cumulative): £640.73/1426 (44.93%)
remaining: £785.27

Hope everyone has a lovely Bank holiday and gets some 🌞 at some point!

pavlovs_dog

it's finally payday so time to shuffle some pennies and update the figures. 

I have calculated that we need to increase our bonus 1% challenge OPs from circa £75/month to £150/month to ensure that we clear our remaining balance when our fix ends in Aug 25.  Thankfully, this is easily achievable with the money that I am no longer having to send to the student loan people.

Mortgage 5% challenge
paid since last update: £240
paid (cumulative): £644/1000 (64%)
remaining: £356

Onwards and downwards, friends!

turtlemoose

paid (cumulative): £182/930 (19.6%)
remaining: £748

still chipping away

rara32

Pay day today so another payment made towards my 1%. We are haemorrhaging money this month. All things saved for just scary how quickly it all disappears. 

Still not heard on OHs contract, apparently they want him for 2 years however he finishes in a month so hoping that gets sorted before we go on holiday. I don't like not being able to plan ahead. Don't they understand that I have a 1% challenge to complete 😂

Great to have some sun though and I am enjoying sitting in the garden when I come home from work. We are in the midst of sons mocks and my busy period at work so just hoping things calm down a little soon.

paid today: £157.94
paid (cumulative): £798.67/1426 (56.01%)
remaining: £627.33

Hope everyone else is managing to make the most of the nice weather whilst we have it 😊

turtlemoose

paid (cumulative): £207/930 (22.3%)
remaining: £723

rara32

Well July has been a busy one I hope everyone else has either had some down time or has some planned for the summer 🙂 We've had 2 separate short holidays this month with some glorious sunshine in the south of France and our first visit to the NE of England. Both have been fantastic however I have well and truly fallen in love with the NE countryside and coast.

Finance wise we have spent a lot for us, however all budgeted for and have made some fantastic memories. The most exciting thing is we are now officially mortgage neutral with the money we have in our long term savings and ISA covering our mortgage amount 🍾 

Plans are to step things up a little from next month and start paying more to pensions and mortgage overpayments for the 2 years of OHs contract. We're hoping it will help us with future proofing our retirement plans and reduce mortgage outgoings. The sector we work in is in turmoil so always best to be prepared! 

paid today: £154.22
paid (cumulative): £952.89/1426 (66.82%)
remaining: £473.11

Hope you all have a lovely summer 😊

pavlovs_dog

that's great news @rara32, and a huge psychological step towards slaying the mortgage beast.

Mortgage 5% challenge
paid since last update (June & July): £356
paid (cumulative): £1000/1000 (100%)
remaining: £0

Going to set what I think will be my last ever target at 15%, which is £1965.  That's 13 £150 payments and a handful of loose change, which would see us to the very end of the mortgage in Aug 25.  Here goes!