Mortgage free by 50…. Hopefully!

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  • Cambs_Chap
    Cambs_Chap Posts: 31 Forumite
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    After juggling various budgets pots earlier today, we made our first ever OP today!!

    I can’t tell you how excited I am about this!

    Our first £500 OP on the way to becoming MF. Hopefully it’s the first of many.

    Am now counting down the days until the end of March for the next one. Think this may become a bit of an addiction!
    MFW 2022 #89
    MFW start (Feb 22): £170,122
    Current (Apr 22): £168,307

    MFW start (Feb 22): 14y 8m (Oct 36)
    Current (Apr 22): 14y 7m (Sep 36)
    MF goal: 9y 9m (Dec 31)

    Feb 22: £500.00
    Mar 22: £446.50
    Apr 22: £250.00
    OP 2022: £1,296.50/£5,000
    OP Total: £1,296.50
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
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    Well done - feels great, doesn't it?!
    Loving the signature! 😁
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • becky170
    becky170 Posts: 857 Forumite
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    Congratulations on your first OP  :)
    Mortgage-free wannabe #66 £105/4000
  • Cambs_Chap
    Cambs_Chap Posts: 31 Forumite
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    Thanks @becky170 and @Mickyh-s.

    It felt really good to make our first OP, and to update my signature.
    MFW 2022 #89
    MFW start (Feb 22): £170,122
    Current (Apr 22): £168,307

    MFW start (Feb 22): 14y 8m (Oct 36)
    Current (Apr 22): 14y 7m (Sep 36)
    MF goal: 9y 9m (Dec 31)

    Feb 22: £500.00
    Mar 22: £446.50
    Apr 22: £250.00
    OP 2022: £1,296.50/£5,000
    OP Total: £1,296.50
  • debtfreeoneday
    debtfreeoneday Posts: 4,814 Forumite
    Mortgage-free Glee! Name Dropper First Anniversary First Post
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    It is slightly addictive. 

    I remember nursery fees ending when my two started school. I felt like a millionaire not paying out £800-£900 a month. Eye watering really!

    well done on the first OP!
    DFW (08/08) £64,346.53 Gone (02/19)
    MFW (08/08) £118k Gone (09/23)
  • Cambs_Chap
    Cambs_Chap Posts: 31 Forumite
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    It’s frightening how much nursery costs. DS2 fees will average almost £900 a month from April. And that’s for only 3 days a week (£70 a day!!!)

    DS1 will average £500 also as he gets some funded hours. Can’t wait until September when he starts school!

    I dread to think how much we will have paid in total for all three by the time DS2 finishes. I’ll work it out one day but I’m not sure I’ll survive seeing the final amount 😣

    Had a nice little win today with the car insurance which is due next week. Renewal quote was £320 but managed to find another for £255. Happy days.
    MFW 2022 #89
    MFW start (Feb 22): £170,122
    Current (Apr 22): £168,307

    MFW start (Feb 22): 14y 8m (Oct 36)
    Current (Apr 22): 14y 7m (Sep 36)
    MF goal: 9y 9m (Dec 31)

    Feb 22: £500.00
    Mar 22: £446.50
    Apr 22: £250.00
    OP 2022: £1,296.50/£5,000
    OP Total: £1,296.50
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
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    Got my car insurance renewal coming up soon. I hope I get a good deal like that too!
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • Cambs_Chap
    Cambs_Chap Posts: 31 Forumite
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    Made another £150 OP today! 

    My OH gives is now giving me £150 each month as her share to add to the overall monthly OP. I know I’m going to pay this as an OP anyway so I thought, why wait until the end of the month to OP her share when I can do it now?

    This way we’re making two OP’s a month once I’ve OP’d my share at the end of the month. Okay, the overall total is no different but it makes me feel that we’re somehow doing more by making two OPs. Does that sound silly?
    MFW 2022 #89
    MFW start (Feb 22): £170,122
    Current (Apr 22): £168,307

    MFW start (Feb 22): 14y 8m (Oct 36)
    Current (Apr 22): 14y 7m (Sep 36)
    MF goal: 9y 9m (Dec 31)

    Feb 22: £500.00
    Mar 22: £446.50
    Apr 22: £250.00
    OP 2022: £1,296.50/£5,000
    OP Total: £1,296.50
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
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    Not silly at all - I like your thinking!
    Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,000
  • Cambs_Chap
    Cambs_Chap Posts: 31 Forumite
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    We’ve had an email from our energy supplier advising that our dd’s are likely to increase from £77 to £165 a month from April……. Ouch!!

    I’ve started bringing lots of gadgets and gizmos (phones, tablets, watches, etc.) with me to work on the days I’m in the office so I can charge them fully at my office rather than home. Hoping that it might save me a few pennies, every little helps right!
    MFW 2022 #89
    MFW start (Feb 22): £170,122
    Current (Apr 22): £168,307

    MFW start (Feb 22): 14y 8m (Oct 36)
    Current (Apr 22): 14y 7m (Sep 36)
    MF goal: 9y 9m (Dec 31)

    Feb 22: £500.00
    Mar 22: £446.50
    Apr 22: £250.00
    OP 2022: £1,296.50/£5,000
    OP Total: £1,296.50
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