LJ's Mortgage free road to early retirement

LouiseJ

Thanks Beanie xx

In the last 3 years I have cleared £22865 from my mortgage which is £7621 average a year. The standard payments should be £3840 a year meaning I have overpaid by £3781 a year.

Not three bad to be honest but I could have done better.

beanielou

But really that is really awesome.
Lots of credit to you & OH

skint_spice

You are doing well Lou, that's a lot to clear.

golfiematt

exellent achievement

LouiseJ

OK, nothing to do with Mortgage but if I write this down anywhere else its in danger of getting peeked at;)

Christmas List - left to get

Hubby - New Jumper and [STRIKE]Slippers[/STRIKE]
Granda - Ponsettia Plant
Brother - Playstation 2 game (need to find out which one)
SIL 1 - [STRIKE]Btl Wine[/STRIKE]
SIL 2 - [STRIKE]Btl Wine[/STRIKE]
Brother - [STRIKE]Btl Baileys [/STRIKE]for his Birthday (27th Dec)
MIL - Calendar
Left to get/Got
DS1 - Weight Bench/Weights/Electric Shaver/Chocs/Hoodie/Smellies/Disney Cup/Money Box
(left of budget £96/£250)
DS2 - Music Stand/ Muse Memorabillia/Muse Hoodie/Disney Cup/Drum Stool/T-shirt/Hoodie/Shirt
(left of budget £30/250)

LouiseJ

OK yearly roundup and plans for 2011

As of this morning the balance in the Mortgage account is as follows

Main Account - £32886.40
Additional Borrowing - £679.04
Total owed - £33545.44

I have 2 years left of the MFi3 challenge which means that I really need to up my gear if I am going to make it. I think that it is still doable if I stick to the following plan:

• stick to meal planning and keep the food in budget
• limit the number of takeaways to 1 a month as this has almost crept back up to weekly again.
• economise on journeys so that shopping is done when near town after work etc. Say no once in a while to lifts for boys who are more than capable of using public transport. DD1 even has a pass for free travel on most services.
• Brew my own wine (have started this and have 4 bottles in the rack to drink while it is fermenting)
• No clothes buying at all unless desperate, we have lots of clothes already so cant see why we would need any for at least 6 months.
• send off the overpayment the day that my salary is paid into the bank.

Heres to a frugal and fruitful 2011:)

beanielou

All looking good hun

LouiseJ

Cheques are written out all ready to post and I have hit a major milestone in my challenge.......

The additional borrowing account is now completely paid off:j

This leaves me with only one account to tackle for the next 2 years of the challenge. I now feel completely debt free as up to now this additional borrowing account has been a ghostly reminder of the major debt problems that we had.

Looks like a no spend day for us today too as we are celebrating New Years day with a homemade curry.

Just sorted out the banking and we have £580 to last the month for all food/drink/petrol and any other expenses.

beanielou

Looking even better

EconomicSlave

Really inspiring thread! Keep going, you are doing really well!:)