Mrs S…on the road to financial freedom

135

Comments

  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    greent said:
    If your interest is calculated daily send it now :)
    Good thinking…..Will send it over now. Thank you! 
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • girlatplay
    girlatplay Posts: 3,883 Forumite
    Photogenic Name Dropper First Anniversary First Post
    Just delurking to say, when I was paying off my loans (and I know @joedenise did this with their mortgage) I sent over a payment every time I had extra cash.  The statements were looooong with lots of £1's and £2's, etc.  @joedenise was sending over 20p sometimes.  It's really quite addictive seeing the balance come down.

    *goes back to lurkdom* 


    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £166,457.86
    300 282 payments to go.
    House buyout fund £3,261.67/£40,000
    Random Pick Fridays = £80.01
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    Just delurking to say, when I was paying off my loans (and I know @joedenise did this with their mortgage) I sent over a payment every time I had extra cash.  The statements were looooong with lots of £1's and £2's, etc.  @joedenise was sending over 20p sometimes.  It's really quite addictive seeing the balance come down.

    *goes back to lurkdom* 


    Thank you! I can see how this would be motivating! I’ve sent my £15 to the mortgage and have updated my signature :)
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • savingholmes
    savingholmes Posts: 27,280 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Well done 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    I have sent another £10 to the mortgage today which makes an overpayment of £97.29 since the start of July. I want to overpay another £41.19 this month to round the mortgage down.

    Today’s overpayment came from the money leftover from this week’s food budget. I’m still positive for covid so haven’t been anywhere. I’m going to sort a click and collect for Friday (my positive was very weak today, and I will have passed day 10 by then, which is still the recommendation in Wales) for food for this weekend and some snacks for our holiday which should save some money on food there. I am unlikely to spend my whole food budget this weekend, and will then be away for 10 days so I should easily make my mortgage overpayment goal.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • savingholmes
    savingholmes Posts: 27,280 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Glad you are feeling better. Well done on the OPs.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • greent
    greent Posts: 10,670 Forumite
    First Post Name Dropper First Anniversary Photogenic
    Hope you're feeling much better and are having a lovely holiday! :) 
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    greent said:
    Hope you're feeling much better and are having a lovely holiday! :) 
    Thank you :) I’m feeling back to normal now thankfully and we had a brilliant holiday. I overspent, which I’m not surprised about to be honest! I still have a couple of transactions to come through on the clarity card so once I can see them I will finish working out the finances for it. It’s likely that I’ll need to dip into savings to pay everything off which isn’t ideal, but we had such an amazing time I have no regrets. 

    My contract in work is changing to full time from next week so will be able to work on building the savings back up then. 

    My food budget is looking very good as we’ve been away, so I’ve sent £41.19 to the mortgage to round it down to £104,600. I’m going to go food shopping this morning and then will send anything leftover to the credit card. I have found that £300 a month works well for our food shop, so £10 a day. Today’s shop will only need to last until next Tuesday as I have a delivery booked, so I’m going to try for £50 (but not going to worry if I go over).

    I’m still waiting to hear about the transfer of deeds being completed. I’m hoping it will be soon! I might contact Enact in a couple of weeks to check the date they sent the documents through. 
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • MrsSave
    MrsSave Posts: 1,817 Forumite
    First Anniversary Name Dropper First Post
    Food shop done and it came to……£49.88. I did have 1 Christmas item in that shop too. For the past few years I’ve tried to add 1 Christmas item (or more) a week to my food shop and still stick to budget. This means when December comes I already have a few things ready. I usually keep track using a spreadsheet so will spend a bit of time this weekend updating last year’s one as things will be a little different this year as it will be just me and the boys for some, just me for most of the rest though my ex will spend Christmas day with us.
    Starting a new debt free journey
    Starting Debt: £5,250
    Current Debt: £4,995.50
    Amount Paid: £254.50 Percentage Paid: 4.84%
    Emergency Fund: £350
  • savingholmes
    savingholmes Posts: 27,280 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Glad you had a good holiday. Enjoy your weekend.

    Christmas plans sound good.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
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