1% MF challenge

rara32

That's impressive progress Turtlemoose 😊

rara32

I hope everyone is doing well after the recent storms. It was rainy and miserable here (always too mild for snow) so having finally gotten rid of our 6 week colds/coughs, we used the bad weather as a good reason to stay in and catch up on our rest which was lovely.

Been a hectic month with DS first trip abroad with school, the unplanned boiler replacement, planned kitchen flooring fitting and a lovely 2 weeks of GCSE mocks added into the mix. Glad to be out the other side of all of that.

Pay day yesterday and Nov OP made. Still on track to be below 130k by the end of the year all going well. 
Just need to not panic about being behind on 🎄 prep and planning for DS 16th (mid Dec) and try not to spend Dec OP. Just 4 weeks to go I can do this 😊

paid today: £436.95

paid (cumulative): £2726.40/1426 (191%)

remaining: £0
 

LadyWithAPlan

Great planning and execution here on the OP front ! Well done 

turtlemoose

Paid today £93 .... bringing me to £930/£930 , 2024 target achieved, woohoo! 

rara32

Congratulations @turtlemoose that's fantastic news and a lovely Christmas present to yourself 🥳

rara32

Seasons greetings everyone!

I have started the day with a quiet cup of tea and a present to myself of my last OP of 2024. This achieves my aim to be below 130k for the end of the year 😊

paid today: £432.36

paid (cumulative): £3158.76/1426 (221.51%)

Thanks to everyone who has read, commented or thanked along the way this year, for their support and encouragement. It really does make all the difference to have a safe haven to dock in each month.

I hope you all have the holidays you need ❤️

RaRa x

pavlovs_dog

Christmas wishes to all of you who follow along, whether actively or in the wings.  Here's hoping 2025 brings you health, happiness and a step closer to mortgage freedom. 

2 months update in one for me as I forgot to post at the end of November.

Mortgage 15% challenge
paid since last update: £379.36
paid (cumulative): £932.9/1965 (47%)
remaining: £1032.10

Can't quite believe that in 5 days time we'll be able to say that we become mortgage free this year!

pavlovs_dog

Mortgage 15% challenge
paid since last update: £240.13
paid (cumulative): £1173.03/1965 (60%)
remaining: £791.97

7 months until mortgage freedom!

turtlemoose

My 2025 1% is £875. I struggled to hit the 1% last year but did manage it. This year I'm aiming to do 2% - which would be £1750, but I've rounded it up to a target of £1800. The plan is a steady £150 a month, offset in savings of course as savings rate beat my mortgage at the moment. 

paid: 300/1800 (17%)


This target feels like a large OP for me, but pales in significance against a lot of the other posters on this board - which is why I really like this 1% idea because it helps make small OPs feel valid! it's still progress, it's still an early MF date, it's still interest saved instead of going to bank. 

pavlovs_dog

I remember feeling exactly the same about only being able to OP tiddly amounts at the start of our journey @turtlemoose.  At the start of my career when I wasn't earning as much we simply didn't have as much spare to throw at it.  What people often overlook is the hidden savings of those small OPs early on - thousands saved in interest because you can access better rates due to a more favourable LTV for example. It's only been the past few years that we've been able to OP as aggressively as we have.  Even if we had kept to the smaller OPs, we would have shaved 5 years and thousands of pounds in interest by starting so early. Every penny really does help.


Mortgage 15% challenge
paid since last update: £361
paid (cumulative): £1478/1965 (75%)
remaining: £487

It still doesn't quite seem real that come August the house will be 100% ours!