2008 MFW newbies

torbrex

bellsbells wrote: »

I think I will stick to just the three totals - people could always put each months total in their sig or keep a seperate record. I think it might get a bit confusing with all those numbers and colours! Also that way as and when new people join the challenge throughout the year they can soon get involved and not feel like they have missed out as there will only ever be one months overpayment then the total showing.

Is anyone else twiddling their thumbs waiting for payday next Thur?:rotfl:

I have to agree, I am a man that likes the simple things in life.

I am about to switch from weekly paid to monthly starting from 15th of next month so I will need to tighten the belt for a while until I get used to it again, hopefully I should be ok as all of my direct debits are monthly anyway and the increase in wages that comes at the same time will be a big boost.:T

thriftyget

We are going away for two weeks at the start of Feb. Going to be pricey and dramatically reduces our overpayments available. However its important to get the right balance between getting mortgage free and enjoying life! I have definately been guilty of being too focused in the past. Getting away from this hideous weather has to be worth delaying the mortgage freedom! What do other people think? Anybody that focused, that holidays are out?

torbrex

thriftyget wrote: »

We are going away for two weeks at the start of Feb. Going to be pricey and dramatically reduces our overpayments available. However its important to get the right balance between getting mortgage free and enjoying life! I have definately been guilty of being too focused in the past. Getting away from this hideous weather has to be worth delaying the mortgage freedom! What do other people think? Anybody that focused, that holidays are out?

I agree that a balance is required between 'normal' life and ultimate goals, I allow a budget of about £2000/year that lets me get away on holiday and other non-essential luxuries. I am in a lucky position to be able to do this but I know of someone that is so focused on clearing all his debt that he has no time or money to do anything else and it has to be said he is not much fun to be around and is a miserable git most of the time.

thriftyget

Think I definately have the "miserable git" potential! Fortunately my wife and I tend to balance each other out. Better to have a marriage and friends and be mortgage free 6-12 months later than no debts or friends!!

Daft_Pegasus

thriftyget wrote: »

We are going away for two weeks at the start of Feb. Going to be pricey and dramatically reduces our overpayments available. However its important to get the right balance between getting mortgage free and enjoying life! I have definately been guilty of being too focused in the past. Getting away from this hideous weather has to be worth delaying the mortgage freedom! What do other people think? Anybody that focused, that holidays are out?

I agree with you. As we never know what life holds for us in the future it's important to enjoy life.

Becoming mortgage free is a goal that should enable us to enjoy life more:beer:

Like you we have a holiday planned this year that is going to seriously dent the overpayments that we could make. However the kids are only young once and we want them to enjoy themselves - they get no pleasure from us making overpayments on my mortgage, so something for them to enjoy is a must.

violetblue

bellsbells wrote: »

I think I will stick to just the three totals - people could always put each months total in their sig or keep a seperate record. I think it might get a bit confusing with all those numbers and colours! Also that way as and when new people join the challenge throughout the year they can soon get involved and not feel like they have missed out as there will only ever be one months overpayment then the total showing.

I agree bellsbells, its nice to see the mini-achievement of the current month's overpayment, next to the overall total overpayment. The three columns keep it fairly simple and easy to see, and I like the pretty colours too!

Thanks again for doing this for us, you're doing a fab job and it's definitely keeping me motivated!

violetblue

Right then, today's payday for me, woo! So I've just been working out how much I can overpay today:

£100 - normal monthly overpayment
£100 - amount I would have paid into S&S ISA
£61 - council tax (no payments in Feb)
£120 - back pay received today
£85 - friend bought some vouchers from me
£13 - meagre Avon earnings

= £479!:j

I think I'll round it up to a nice round £500, so added to the £130 + £85 I've already overpaid in January that makes *counts on fingers with tongue sticking out* £715 altogether! I'm well pleased with that!

Looks like my S&S ISA money won't appear until Feb now, so any overpayments from that will fall under February's totals.

Looking forward to seeing everyone else's updates as the various paydays roll round!

emma_nottingham

I agree with you. We have a holiday planned for the summer and are debating a cheap week in May if we do loads of overtime. Its important for the kids and for your sanity. We all work hard and deserve to live a little. Its hard work being so focused on money and you need a break

LouiseJ

thriftyget wrote: »

We are going away for two weeks at the start of Feb. Going to be pricey and dramatically reduces our overpayments available. However its important to get the right balance between getting mortgage free and enjoying life! I have definately been guilty of being too focused in the past. Getting away from this hideous weather has to be worth delaying the mortgage freedom! What do other people think? Anybody that focused, that holidays are out?

No chance! Holidays are the only thing that keeps me going at work sometimes. And the occasional concert, off to see Morrissey next week and I'm soooo excited!

I do think you have to have some sort of balance in life. Yes I want to be mortgage free as quickly as possible and we are taking measures in other areas but I have two teenage boys and to me our holidays give us great family memories. We only have one main holiday a year and we usually have a modest one (drive over to France and camp) but this year we are off to Florida with another 2 families. We have made sure our flights are the best possible price and we are sharing a villa. It will be our first and probably last time there so I'm not going to beat myself up about it.

Interesting question though TG;)

macka0

right newbie question alert....my mortgage is aroound 55k with the cheshire b/s,how do i go about overpaying it each week/month,do i just send the money to were my d/d goes to or do i have to set something up with the Cheshire B/S
thanks in advance for any help Paul