2008 MFW newbies

Snaggles

Thanks for all your work on the list Bellsbells - it's a great motivation to see the figures on there.

I was supposed to have a sharesave maturing today, but it seems to have gone missing - once I sell the shares, I should be able to make a nice healthy overpayment.....but first I've got to find them!

shirlgirl2004

I don't think this month will be a great one for me as I have DD1 birthday. DS2 will be 19 but has said he doesn't want anything for his birthday so that'll save a few pounds. I bought DD a present in the January sales so that's less to buy now but I still have about £200 to pay for her party not very MFW but she's wanted this party for the last 9 months since she went to a friend's.

I have paid £500 off but don't think there'll be much else to add but we'll see.

Little_Orange

Everyone's doing so well! I'm going to get our regular overpayment set up this month - hopefully £200 - all the overpayments we've done this year have been bits and pieces.

zebedy

Hi Little Orange,

welcome to our group.
It is great to have a regular overpayment if you can because it soon becomes "normal", but bits and pieces all add up too.
If you do a regular payment and then manage a few additional bits and pieces on top of that it's even better!
good luck with it.

Little_Orange

Well I've just banged the numbers into a spreadsheet and it turns out that we've been quite lazy this year and only overpaid £282.41 to date. Given that we're now aiming for a £200 a month OP, that will give us another £1000 - so I think we will start gently and aim for £1500 overpaid this year. If we meet that, we'll go on to aim for £3500 overpaid since the mortgage began - at the beginning of this year that total was £1970.16 (yes, we haven't been very good at all this year so far!)

galadriel

Thanks bellsbells for your hard work and time updating the list. I am really getting into this challenge. Have just had a small payrise and a small bonus, as I'd not budgeted for it in my August budget have decided to overpay it, so together with my budgeted £50 I will be able to overpay another £200 on Monday.

Di-Dough

Hi everyone - Di-dough (number 16) checking in!

My Mortgage comes out on the 1st of the month so I tend to make my overpayment then and spend the rest of the month saving for the next month:rotfl:

Anyway August overpayment was £134.23 so total this year is ........£1,261.98

I am supposed to get my Mortgage Statement this month and I am so excited :j

Everyone is doing so well :T

Di-Dough

shirlgirl2004

Di-Dough wrote: »

My Mortgage comes out on the 1st of the month so I tend to make my overpayment then and spend the rest of the month saving for the next month:rotfl:
Di-Dough

It's funny how we all have our own ways of working it. The OH gets paid on roughly the 25th of the month so my month runs until then. So July finishes on the 25th for me and August started then. I just pay off as much as I think I can afford near the beginning of the pay period and then if there's any left come next pay day then that gets paid off too. Does that make any sense

Floxxie

Sorry had to wait until lender added on interest - not making any more overpayments this year as I have to raise funds for a 'family loan' that needs paying back but have worked out that I should hit my target for this year if the effects of offset and stooze pots works as I think it should!

It's great hearing that so many people are motivated to make a difference to their mortgage. I can't wait until mine is about half it is now so I can see the real effects of capital and interest. At present I pay so much interest that my mortgage is only coming down a little (even with a large stooze pot - £18k at the mo)

Ooh, just noticed I've had this mortgage for a year - Happy Birthday mortgage but I hope you don't get to see to many of them!!

Floxxie

kezza12

well my August overpayment standing order went off yesterday and there's pounds in the piggy which will get counted up in a couple of weeks to bank. the hubby's said that he will round it up to £100 depending on whats in it so I might just pinch a few pounds and buy some emergency galaxy chocolate:o (i just need it) so that will make my augusts payment up to £300. 1 worked out that we have payed roughly £5740 into the mortgage this year but only £3310 went towards paying off the mortgage meaning that £2430 was just interest roughly £9 per day. I'm not going to work that out again cos it was slightly demoralizing. however i have already paid off more in 8 months than i did in 12 months last year:D