2008 MFW newbies

bellsbells

Welcome Steveswift and wow on being able to pay off such an amazing lump sum - you will really notice the difference once that has gone! I have added you to the first post with your target for the year. Just PM me (private message) when you want to do an update. :j

bellsbells

tootallulah wrote: »

OK I've been lurking for weeks but I must be hooked-today I made my first overpayment of £650, so it's started and it's exciting!

I am fifty years old and my mortgage is stopping me having the choice of retiring at 55 so I need to get it down as fast as I can. As of today I have £167,297 to go which looks like being 8 years eight months completing in October 2016. I have just paid off my personal loan so from 1 March my payments go up by £150 per month. I will work through what difference that will make after 1 March. Thanks for the inspiration, I hope this works.

Welcome to the gang tootallulah and welcome to the first post! As soon as you have a target for the year in mind let me know and I will add it to the first post.:j

tootallulah

Thanks BellsBells. My target is to be under 150k this year so that will be £17300 paid off by the end of the year. Looking through the thread it look like I need to pm you the totals each month. I'll sort out how to do that and send my update to you in March.

My big task of today is to work out how to put things to sell on Ebay, I'm brilliant at buying!

hummingbird

Hi newmoneysaver, are you going to be getting another car? I've been wondering about selling my car and buying a smaller one that will be cheaper to run, and putting some of the proceeds towards the mortgage. Anyone else done this?

Steveswift

Thanks bells 10K was sat earning little interest so paid it of Mortgage, but the real work starts here.

Gl all


Steve

Steveswift

I am obviuosly going mad, where do i click tp PM?

Cheers


Steve

hummingbird

Hi Steve just click on the name of the person you want to PM, then you get a list of options, well done by the way!:T

SALTY69

hummingbird wrote: »

Hi newmoneysaver, are you going to be getting another car? I've been wondering about selling my car and buying a smaller one that will be cheaper to run, and putting some of the proceeds towards the mortgage. Anyone else done this?

Hi Hummingbird, Here is a good one for you, I had a Jaguar 2002 X-type petrol per month £150pm, Insurance £24pm , Tax £110 per Half year. Now Ford Focus 2002 Petrol £70pm, Insurance £11pm Tax £70 per half year. In all it helped me pay off CC,s and Loan and now only have Mortgage. I think it was a good move and i do miss it and so does my OH but it had to be.

newmoneysaver_2

Hi humming bird,
I won't be replacing my car. TBH my car was our 2nd care so we have hubbys car to use and he has a motorbike too, which he uses to get to work - it's easier to get through the traffic. I get the train to work and walk to the train station, she more often than not, we had two car sat at home all day whilst we are at home.

I am getting a £141 refund for the insurance and will save the £350 I would have spent on insurance in June, £105 for the tax which was due at the end of the month, MOT costs and other servicing/repair cost, as well as the petrol.

Steveswift

Thank you, DOOH.


Steve