2008 MFW newbies

ShreksBodyDouble

I think it may be a while before I can overpay any more, we've been stung with a big overpayment by flaming Tax Credits and have to pay it all back. Grrrrrr. £200 a month down now. I have put in a dispute with the Tax people as I believe it is their mistake not ours, but in the meantime we're living on a budget.

Have cancelled the PPI on our mortage though, saving us nearly £25 a month, and while I was on the phone to them they told me that we've overpaid nearly £1000 altogether which is great.

Keep going guys, every little helps. :T

TurnaroundSue

Might have fallen at the first hurdle:mad: . Got the dreaded cc bill yesterday and even though I knew it would be hefty I didn't think it would be £1400 hefty!!!:eek: So need to find money to pay this off in full, cozain't paying the £50 interest charge they will require if I don't; so am afraid that my first payment which was meant to overpay the mortgage will have to go towards this bill. Have now put cc safely away and will only use in an emergency!!

Will start next month - or might just try to put a token gesture of say £10 to my mortgage - just to say I am taking this challenge seriously and it is better than nothing:D

vickster0304

Well, I have just set a standing order up to over pay our mortgage by £124.00 every month starting 01/08/2008. If we don't miss that then I will up it. We want to be mortgage free and we are taking steps to be that way. Thanks for all your help guys, this thread is great.

nic283

Hi guys,

We just moved into our first home in Feb. We intend to build up an overpayments pot as we can only pay in a lump sum every January. It's just a bit difficult at the mo as we're trying to make our house a home by buying light shades etc! Do you have any tips on how to do both, or should we just concentrate on getting the house done first and then overpay when we have the cash.

Cheers

LouiseJ

Hi there all you MFWs xx

I have made a June overpayment of £377 bringing my total in the first 6 months to £2088:j

Cant believe we are half way point in the year already....I am slightly ahead with my target standing at 56% of the original amount of £3720

Hope you are all doing OK:D

tootallulah

Louise that is brilliant, well done. I am having a terrible month as I can't spend any money until I have sorted out my new boiler. It is SO frustrating. Still I am guessing that it will all be sorted and paid for by September meaning I'll get back on track in October. Still not actually got round to selling anything..............................

gallygirl

nic283 wrote: »

Hi guys,

We just moved into our first home in Feb. We intend to build up an overpayments pot as we can only pay in a lump sum every January. It's just a bit difficult at the mo as we're trying to make our house a home by buying light shades etc! Do you have any tips on how to do both, or should we just concentrate on getting the house done first and then overpay when we have the cash.

Cheers

Depends on what you want the most really & prioritising. For example, I'd prioritise a living room carpet, but not spare room carpet etc. How about for every £50 you spend on the house you put the same in your mortgage account - may make you more careful about what you buy if that 'nice but pricey' light at £60 is actually going to 'cost' you £120!

ferguwat

Bellsbells,
Our aim for 2008 is an overpayment of £500. Sadly we have had to buy a new central heating boiler this month which has made a dent in our savings. So far this year we have overpaid by £205.

Maybe next year we can be a bit more adventurous with our challenge!

zavarony

Hey Ferguwat,
just remember that £500 is a whole lot more than if you hadn't overpaid anything and every little bit makes a huge difference....
Well done for the overpayment so far, keep up the good work, its not easy sparing the cash to overpay for us either so Im always pleased with myself -even if I managed to move £10 over!!!

Zav

twinklie

I've STILL not overpaid anything, but new I wouldn't until October time. I will of had my first pay check by then AND my other half found out yesterday that his contract with work IS being renewed for another year! Woo HOO!