Time, energy, money

Unicorn_cottage
Unicorn_cottage Posts: 879 Forumite
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in Mortgage-free wannabe
Hi all!

Sooooo I made the first overpayment today of £550 - we are on the way! :T

I am doing, (and have been doing for at least 2 years), a lot of money juggling to pay off our (me and my partner's - my partner is happy for me to take charge!) debts and get us into a stronger financial position. It's been a slog and I have used every money saving tip, trick and hustle I could muster including channeling Mr Lewis' advice :money:. There is still a way to go but we are getting there...slowly but surely. Still lots of things I need to look into and master such as pensions (I just don't get them) and maybe investing (no clue there either) but hey-ho it's an adventure!

Hope you are all good!

Unicorn
"Everything comes to him who hustles while he waits" Thomas Edison
Following the Martin mantra "Earn more, have less debt, improve credit worthiness" :money:
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Comments

  • louloubelle79
    louloubelle79 Posts: 411 Forumite
    First Post
    Welcome :money:all the best on your journey. We started our MFW journey a year ago, we are just sorting hubbys pension and only just started investing... have learnt so much on this and savings and pensions forum!
  • BookmobileBadGirl
    BookmobileBadGirl Posts: 279 Forumite
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    Congratulations on your first overpayment,

    If you master pensions, do let me know
    Mortgage £75,300 (December 2016) Mortgage Free Date December 2051

    Mortgage £11,500 (March 2023) Mortgage Free Date August 2024
  • beanielou
    beanielou Posts: 90,186 Ambassador
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    Great start :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • Unicorn_cottage
    Unicorn_cottage Posts: 879 Forumite
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    Thanks for the encouragement louloubelle79, BookmobileBadGirl, and beanielou! I'll be checking out your journeys too.

    I paid off another £1000 at the end of February. I was holding the money back for another use but it was no longer required so I tossed it into the mortgage cauldron! Being a bit nervous I rang my mortgage provider (Bank of Ireland - BOI) to check the outstanding balance and the figures didn't make sense so I have queried this with them. I was expecting the figure to be £138,300 but it was £138,600??? BOI seem to lower the amount owing and your monthly mortgage payment so maybe it has something to do with that but being hopeless at maths I have no idea how this came about.

    Anyway I have decided to aim high and not be deterred by the above. My mortgage is due for renewal in June 2020 and I want to get it down to £100k. This is extremely ambitious but I have always been better at paying off debts than saving so it gives me a focus!

    I am as always pursuing extra bits of cash and did a face-to-face market research session last week which got me £50 for an hours work! Yesss! Wish I could get me some more of that!
    "Everything comes to him who hustles while he waits" Thomas Edison
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness" :money:
  • Unicorn_cottage
    Unicorn_cottage Posts: 879 Forumite
    First Anniversary First Post Name Dropper Photogenic
    The outstanding balance issue got sorted - it was simply because they had added the interest at the start of the month so everything will be on track when I make my next "standard" payment. Phew!

    Anyway a bit of good news - I got another job (in addition to the 2 I have already) but this 1 is really cool and is a gardening job working with a charity close to my heart so I am looking forward to starting that in the near future.

    Keep plugging away everyone!
    "Everything comes to him who hustles while he waits" Thomas Edison
    Following the Martin mantra "Earn more, have less debt, improve credit worthiness" :money:
  • beanielou
    beanielou Posts: 90,186 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Good news on the new job :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.     ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • shangaijimmy
    shangaijimmy Posts: 3,796 Forumite
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    Good progress and love the ambitious target. As anxious as it feels throwing £100 OP into the mix, it's a great feeling when you can see the balance reduce. I look forward to my mortgage statement in the hope that its pages and pages long!!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34
    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • Kittenkirst
    Kittenkirst Posts: 2,563 Forumite
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    Great news on the new job and also cracking overpayments- £1500 is half my target for the year to overpay :D

    :D looking forward to cheering you on along the way!
    First home- Oct’16 until June’21: £170.995- Overpayments made £13,784 (25% extra!).
    New forever home- Sep’21 £309,449 @ 2.05%. Plan to clear it before 30 years!!!!!!
  • gallygirl
    gallygirl Posts: 17,228 Forumite
    Name Dropper First Anniversary First Post Mortgage-free Glee!
    shangaijimmy wrote: »
    I look forward to my mortgage statement in the hope that its pages and pages long!!
    If it doesn't make a thud as it lands on the mat you're doing something wrong :D. Here's hoping the little un's not standing beneath it :rotfl:.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • michelle09
    michelle09 Posts: 912 Forumite
    First Anniversary Name Dropper First Post
    Well done on the job, hopefully they aren't too many hours?
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