2008 MFW newbies

bellsbells

tro127 wrote: »

Hi, can I join this one. Not done any over payments so far this year but would like to aim for £2008 as think that its a real challenge but not unachievable if I am sensible.

welcome tro127 - you are added to the list!:T

bellsbells

:beer: Yipeeeeeeee:beer:

Exciting happenings on the MFW front. Today I moved my overpayment fund of £1240 off my outstanding mortgage balance. My mortgage has gone down by 9 months:j

I am feeling very smug - I know it is a small victory but it really feels like I am beating the system. I am not following the 'norm' by plodding through my mortgage month after month on the banks terms, instead I have taken some of the power back:D (to say nothing of the interest money saved:rotfl: )

LouiseJ

bellsbells wrote: »

:beer: Yipeeeeeeee:beer:

Exciting happenings on the MFW front. Today I moved my overpayment fund of £1240 off my outstanding mortgage balance. My mortgage has gone down by 9 months:j

I am feeling very smug - I know it is a small victory but it really feels like I am beating the system. I am not following the 'norm' by plodding through my mortgage month after month on the banks terms, instead I have taken some of the power back:D (to say nothing of the interest money saved:rotfl: )

Well done bellsbells:T you could have spent that money on a new plasma TV but instead spent it in the best possible way......off the mortgage millstone. Very proud of you:T It is a very empowering feeling this overpayment lark isnt it:cool:

I am still doing mystery shopping and extra work to help clear mine asap xx

tootallulah

BellsBells that is brilliant you must be really pleased. Nine months off the mortgage is a real achievement, especially with maternity leave around the corner.

TurnaroundSue

Thanks to everyone for your replies. :T I can see what you are saying about putting it into a high interest account and just paying off the minimum until the end and then paying it off, but to be honest I don't know how good my resolve is for that. I mean, I would not have a problem saving the money each month, but if something came along (and I dont have many savings at the moment!!) then I cannot be sure that I wouldn't use that money. So I think I will run with some of your advice, and pay off my cc at the lower amount and pay 5% off my mortgage as well!!

So Bells Bells - can you please add me to your list, starting next month. I can only pay 5% anyway, which equates to some £315 each month - so this year I am aiming for around £2200 by the end of this year.

PS: Can somebody confirm that the £315 per month overpayment is correct, as we pay £650 per month payments?

Many thanks

poppyoscar_3

afternoon :hello:

i have just been and overpaid £115 for june.

balance now stands at £13397.36 - I may even get under £13000 next month which would be great!

total overpayments to date £1285, more than half way to the year's target.

po xx

Di-Dough

Not having a great time at the moment ..... so far this month I have had my mobile stolen from my bag either getting on a train or getting off ... I had it on the station and used it but when I got off it had gone:mad: The next thing to happen was last might I forgot to lock my car (on the drive):o and this morning got up to find driver's door open, glove box open and my little purse with car parking change in it gone:mad: Just waiting for the third thing to happen now:rolleyes:

Anyway back on topic and have managed to save £164.23 this month which makes a total for June of £1,003.52:T

Happy Mortgage overpaying everyone.

Di

zavarony

Hi Bellsbells

Well done on the mortgage payment - I am doing a similar thing in saving into an ISA until Jan 2010 and I cant wait to see the difference it will make when I move it over. 9 months is a great achievement....

Didough

Bad luck with the phone and car... hope it all gets sorted soon, but well done for making the overpayment.

Ive been away for the last couple of weeks and so will be hoping that I can keep on track with my June overpayment depending on how much Mr Visa wants off me!!

Keep up the great work all and welcome to all the MFW newbies - good luck
Zav

LindsayO

Hi MFWs, I'm new to this board, and to overpaying. I've got an offset mortgage so I'm going to be paying into the savings acount rather than overpaying. I just hope I'm disciplined enough to not dip into it.

I had £6k on a 0% credit card, from fixing up my old house, which I managed to pay off, woo hoo, before the interest started. so now I'm ready to start focusing on the mortgage

I'm on my own for the first time ever at nearly 49, and facing possible medical retiral due to progressive medical condition. So my goal is to put every single penny possible into the mortgage, so as to make living on my medical pension a possibility rather than facing having to sell my flat

newmoneysaver_2

Welcome Lindsay :hello:

Whishing you the best of luck, you sound determind so I am sure you will do well.

Bellsbells will be along shotly and add you to the list.