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Z's MFW journey
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beanielou said:Surely if chaos reigns at work all the more reason to pay down the mortgage?Made a £2,000 overpayment today!Brings the total mortgage down to £74,541 so I'm very pleased its below the £75k mark now.Monthly repayments also down to £400.64So we have used up £5k / £16k overpayment allocation for this year to end of Sept.
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That’s good.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0 -
Zerforax said:beanielou said:Surely if chaos reigns at work all the more reason to pay down the mortgage?Made a £2,000 overpayment today!Brings the total mortgage down to £74,541 so I'm very pleased its below the £75k mark now.Monthly repayments also down to £400.64So we have used up £5k / £16k overpayment allocation for this year to end of Sept.DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest0 -
LadyWithAPlan said:Zerforax said:beanielou said:Surely if chaos reigns at work all the more reason to pay down the mortgage?Made a £2,000 overpayment today!Brings the total mortgage down to £74,541 so I'm very pleased its below the £75k mark now.Monthly repayments also down to £400.64So we have used up £5k / £16k overpayment allocation for this year to end of Sept.
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Last month was expensive after buying an expensive gift and booking the Easter holiday and flights/hotels for the summer trips but still managed to make a £1,000 overpayment.Monthly repayment amount now down to £395 and total mortgage down to £73,400. Also used up £6k of the £16k overpayment allowance. A little bit behind as almost at the halfway point (my yearly deal runs from start of October) but still positive progress!Work has also settled down too so that has been positive. Hopefully means I can focus a bit more on overpayments for the next 6 months.0
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Secured a promotion and a 30% salary increase at work
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well done!I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.1 -
I have made a £5,000 overpayment today! This brings down the buffer we built up before Xmas when work was a bit unsettled. Still got plenty in our emergency fund but it's now more like 6 months of expenses rather than 9-10 months worth.Mortgage: £73,400 --> £68,400Monthly: £395 --> £369Will only have £5,000 overpayment allowance left from now until September.I'm off next week and I'm going to turn off my work laptop and have been telling everyone else. I have worked through the last 3 holidays and feeling a bit burnt out lately.2
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For quite some time now, any money we have saved, I've put straight towards the mortgage. I feel like now I should also put money towards some other goals. I always joke to my wife about an extension but at some point I need to have a set fund for that (may save in premium bonds as it's a bit more fun) and I'm also thinking I should start saving in a stocks and shares ISA. Hard to change tact when I've been doing in a certain way for so long!
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Took me a week but I've gotten a bit more organised.£1,000 mortgage overpayment made£1,000 into premium bonds (for extension fund)Will likely put £3,000 into the S&S ISA but I haven't worked out which platform to use yet.1
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