2008 MFW newbies

bellsbells

earthgirl wrote: »

Hi, I wanted to see how I got on first (Not very brave I know!) but I have managed to make overpayments each month. Mostly due to reading how others have got on and feeling inspired!
I've overpaid £3,500 since January, and aim to hit £5,500 by December -please could I join?

of course you can join earthgirl - well done on an excellent effort so far!

bellsbells

Well done to all on another brilliant set of overpayments so far this month, with more yet to come!

Just a couple of things - firstly a reminder. Please, please can you pm (private message) me your updates each month. If you could send me the amount you have paid and a running total for the year that saves me a bit of time instead of having to do all the maths:rotfl: This also means that I do not miss anyones monthly totals. If you just post your total amongst the general 'chat' of normal messages I might not see it.
Secondly, I am away for a few days, back for a couple then away again until the 30th of August on holiday so if I get a bit behind with monthly updates please bear with me:o

ta bb xxx

I,_Brian

Hi all!

Looking to get involved, as this looks like a great motivational thread.

Already reduced my debt from £175k to £155k over 2 years, and will be looking to pay around £6k extra in over-payments between now and Dec 31st. I may even be able to beat that as I'm tempted to drop my ISA and withdraw the funds into overpayments.

In the meantime, nice to meet you all, and this is a great idea.

fluffysox

I,_Brian wrote: »

Hi all!

Looking to get involved, as this looks like a great motivational thread.

Already reduced my debt from £175k to £155k over 2 years, and will be looking to pay around £6k extra in over-payments between now and Dec 31st. I may even be able to beat that as I'm tempted to drop my ISA and withdraw the funds into overpayments.

In the meantime, nice to meet you all, and this is a great idea.

Welcome to the thread:T , you'll need to pm bellsbells to get added to the list.

kezza12

welcome to all the newbies :Dthe more the merrier, i wonder how much we've collectively payed off extra now:rolleyes: i just cant wait till i can add my name to that m/f honor role. well the Olympics are saving me money as i haven't moved (except to go to work that is) from the front of the tv in 12 days now i can't wait till the 2012 Olympics, I've already told the boss that I'm taking 3 weeks off to go watch them anybody know how i could get to be a volunteer for them?

setmefree2

I,_Brian wrote: »

I may even be able to beat that as I'm tempted to drop my ISA and withdraw the funds into overpayments.

In the meantime, nice to meet you all, and this is a great idea.

Hi

Welcome to MSE. Don't get rid of your ISA! The MSE msg is that it's ISAs first, mortgage next. ISAs are tax free allowances that can't be got back and give you tax free interest for ever.

Have you read this?

http://www.moneysavingexpert.com/mortgages/mortgages-vs-savings

Good Luck with your MF journey. Maybe you should start a thread/diary/blog of your progress?

All The Best

SMF2

galadriel

Made a second overpayment for August yesterday of £400, this was made up of a number of different savings -
had no council tax to pay this month as the council have just sorted out a student discount for my son - £100
my son lost my ipod so had to cough up £100 for it, decided not to buy a new one just for him to borrow and lose again :mad:
i cut my personal spending drastically last month and saved £50
closed an old savings account with very low interest - £60
not having to fork out for college bus fares/lunch money july/august - £90

So far I have overpaid a total of £850 and taken a year off my mortgage :j

Have also applied for a refund of some Capital bonus bonds I bought years ago from the Post Office, these aren't earning interest now so am planning to pay half off the mortage and to save half. Once this is paid over I won't have much to spare but am budgeting for a regular £50 per month.

Have a good holiday bellsbells, will pm you later with my figures.

Juli

Hi all,

Have just transferred my first OP (finally worked out what that is!) of £3000.

This will reduce my mortgage term by 18 months, so a good start, and I have a big sense of acheivement.

Bellsbells I've sent you a pm also.

I,_Brian

setmefree2 wrote: »

Hi

Welcome to MSE. Don't get rid of your ISA! The MSE msg is that it's ISAs first, mortgage next. ISAs are tax free allowances that can't be got back and give you tax free interest for ever.

Have you read this?

http://www.moneysavingexpert.com/mortgages/mortgages-vs-savings

Good Luck with your MF journey. Maybe you should start a thread/diary/blog of your progress?

All The Best

SMF2

Ah - difference is that I'm currently on a self-cert mortgage, and I'm keen to push as close to 70% on a remortgage as possible!

setmefree2

I,_Brian wrote: »

Ah - difference is that I'm currently on a self-cert mortgage, and I'm keen to push as close to 70% on a remortgage as possible!

I see;) Good Luck with that.:money: