Hurrah, my MFW quest has started

setmefree2

well done on all your progress :T:T:T

abouttimetoo

setmefree2 wrote: »

well done on all your progress :T:T:T

Wow SMF2, look at how much your mortgage is down to now - fantastic - well done you

abouttimetoo

Hi all :hello:

I'm having quite a good morning today - got loads of jobs done in the house and a few bills paid so thought I'd allow myself five minutes on here to do a quick update as I've really fallen by the wayside with my diary; this is only because I've hardly had any time to myself for ages now and I can see lots of lovely new diaries have started that I haven't had time to catch-up on.

One of the things I've done this morning is speak to Vodafone to get a £4.50 refund for charging me for something they shouldn't have done, hmm....

My BTL has a new tenant in and although she has only signed in for an initial 3 months it is likely to roll over to 6 months which will be good. Once that one is over I would like to put it on the market, in fact I was just about to do that when this particular tenant turned up. The market seems to be picking up and there is so much equity in the BTL that I would just like to sell it and pay it off my mortgage and have done.

In my post yesterday I mentioned my stooze money and although it is not due to be repaid for another three weeks I have actually repaid £10, 000 off this morning and I'll do the rest in two weeks time. I know this isn't particularly MSE/MFW and I should keep the money until the last minute to make the most interest but it has become a bit of a mental millstone and I can't wait to see the back of it. So, this means I will have a further £6000 to pay back in a fortnight and then a further £6000 in about 5 months time and that will be it unless interest rates etc change.

I've got my 0% purchases card until next July so I think that will be the only other stoozing I'll be doing for a while!

I've also paid my first gas bill for almost a year due to all the problems I had and being so much in credit. It will be nice to build up a proper historical record of actual usage and then I will look at a monthly direct debit.

I've also just paid my quarterly electric bill and I don't have it to hand as I type but I think it was about £30 so I can't complain at that

I'm a little bit down at only being at 56% of my annual OP target so I think I will make a list of all the things I have 'achieved' this year to explain why this is the case e.g changed car, bought shares etc

Right, that's it for now - off to do some more jobs. Hope you are all doing well with your OP's and MFW plans
Regards

abouttimetoo

I've spoken to the electricity company today to see if I can reduce my monthly direct debit from £10 a month to £7 a month as I'm always so much in credit. Apparently they don't normally do them for less than £10 a month but they will do it if I can give them an accurate meter reading so that they are 'happy' that my usuage is low.

It wasn't convenient tfor me o give them the reading there and then but I will call them back to-morrow as well as arrange for them to refund me the money I am in credit by.

I'm still selling books on ebay - nothing major but every little helps doesn't it.

This year seems to have flown by, I can't wait until December to start the MFiT T2 challenge

abouttimetoo

Hi all

Just a quickie as I'm working this morning. Just to report at £500 OP made for this month :j

Now off to update my siggy and let the 2009 challenge know

Regards
ATT

abouttimetoo

Just to report that I've paid the big stooze off (over 16k) and now only have a smallish one left of 6k which is due in approx 6 months.

I'm also taking advantage of a 0% credit card for 12 months and just making the miniumum repayments that the money I would have used to repay it in full monthly is going into the savings account.

The majority of my Christmas shopping is done, think I only have approx £50 more to spend and then I'm done.

I also need to look at holidays for next year:o

abouttimetoo

Hi all

I'm at home today with the dreaded winter cold so thought I'd take the opportunity to do a couple of updates to my thread:rolleyes:

I normally just send my OP on the day I get paid but I'm not sure I'm going to be around to do that next week so I've just set up internet banking to do it for me :j

I've still not got those extra couple of bits of Christmas shopping yet but I still think I've only got about £50 left to spare as mentioned in an earlier post, oh, I've just remebered, I also need to buy some cards as well.

In terms of my BTL, the current tenant originally planned to leave in December though there was some mention that she may need to stay longer depending on how her contract went so I'm just waiting to hear whether she might be staying on or not.

'one off' monies spent this month

• car tax (did it on-line for the 1st time and for some reason it wouldn't work so I rang up the automated line and it worked great, a very good service and I always hate the trip to the Post Office to do it
• renewal of landlors insurance for the BTL

Next month my car insurance is due so I must shop around and start to look into things like Quidco

I've also just been plottting my end of year position with the mortgage so that I do a proper start position for the MFiT T2 thread. Back in January when FB first opened the thread I had hoped that my start position would be £80k on the IO mortgage but it's now going to be £85k which I'm not too dissapointed about as I've also changed the car and done some buying and selling of shares and although I made a good profit on the shares I decided to hang on to some of them in the end hence the higher start figure than I'd projected.

I'm really excited about the MFiT T2 challenge as although I've had quite a good year on the OP front I've been faffing about paying stooze money back etc so in 2010 I'm really going to get my teeth into OP's and although I'm commiting to £9600 as my 2010 OP target I'm hoping to beat that.

I'm also planning to have a summer holiday next year instead of a skiing holiday and I will also probably have a short city break as well

Well this post is getting far to long now so best sign off (but maybe start another in a sec) :rotfl:

abouttimetoo

abouttimetoo wrote: »

Because the signature part updates all back entries IUSWIM I'm going to make a note here of my January opening position and balance changes last year. KIV I started April 08.




Jan 01 2009

• Repayment balance £90,658.67
• Interest only balance £90,422.29
• Total o/s balance £181,080.96

Dec 31 2009

• Repayment balance £
• Interest only balance £
• Total o/s balance £

April 08 - Dec 08

• Start Repayment balance £92,674.93
• Start Interest balance £94,501.77
• Total start o/s balance £187,176.70
• Total OP's made April- Dec 2008 £4900 (target £2700)
• Total 'normal' monthly payments £8,265.43
• Total payments £13,165.43
• Total interest charged £6609.94
• Daily average interest £24.03
• Total reduction £6555.49

Jan 09 - Dec 09

• Start Repayment balance £
• Start Interest balance £
• Total start o/s balance £
• Total OP's made £ (target £)
• Total 'normal' monthly payments £
• Total payments £
• Total interest charged £
• Daily average interest £
• Total reduction £

Proprotion of salary to mortgage

• April 52%
• May 50%
• June 50%
• July 50%
• August 50%
• September 55%
• October 96%(I cheated here and bumped up usual Op from savings)
• November 61%
• December 62%

Proprotion of salary to mortgage 2009

• January 44%
• February 42%
• March 39%
• April 36%
• May 36%
• June 36%
• July 20%
• August 28%
• September 36%
• October 36%
• November
• December

I'm just reserving this post to do a similar update although i know it won't make such pleasant reading in terms of % of salary paid to the mortgage :rolleyes: But this will help me work out why - that might not make much sense to you but I understand it lol

abouttimetoo

Well, I decided to look at car insurance renewal quotes tonight but ended up actually buying it on-line and making my first ever purchase throught the Topcashback site. It's my first experience of a site like this but having read the reviews it looked promising and there was a £65 cashback available so I went for it so here's hoping

StuartGMC

ATT
I like TopCashBack as there's no annual fee. Only problem has been LateRooms who they are chasing otherwise seems great, hope you find it likewise.

Get well soon!