A Journey of Many Pounds Starts With a Single Penny

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  • LadyGnome
    LadyGnome Posts: 801 Forumite
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    This month has been good for OP as I received dividends and a refund of some expenses. Over £200 of additional OPs made. I have also cleared my CC bill and put money away.

    I have been reassessing my priorities as I normally split money between several pots. Hopefully DS1 will be going to University in just over 2 years so I need to save more for that to cover the parental contribution element of the financing. Looking at Martin’s posts on this topic I thing I will need to fund £6-7k pa. I have over £5K saved so far but need to focus on it a bit more.

    Once the mortgage drops below £213K then my standard OP each month will be enough to keep me on track with my pay off the mortgage early plan even in 31 day months. So I will split extra payments 50:50 between mortgage and Uni until the mortgage drops below £213K. After that I will just make my standard OP on the mortgage and any spare will go into the Uni pot.
    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • LadyGnome
    LadyGnome Posts: 801 Forumite
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    edited 24 June 2019 at 10:32PM
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    Payday tomorrow so nearly time for the money shuffle.

    I have already reached £5 on ips0s but might wait until I hit £10 before I request a voucher. Very close to payout on u gov and working on Sw@gbucks.

    I am starting to review things like pensions and isas so I have a clear idea of my position before I start freelancing.
    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • PurpleFairy26
    PurpleFairy26 Posts: 3,903 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
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    Sounds like you are doing all the right things lady G I hope you're enjoying a bit of down time. What's your target MF date?
  • LadyGnome
    LadyGnome Posts: 801 Forumite
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    PurpleFairy26 wrote: »
    Sounds like you are doing all the right things lady G I hope you're enjoying a bit of down time. What's your target MF date?

    Hello PurpleFairy

    When I set up my pay off the mortgage early plan the end date was Sept 2027 and I have shaved another month off since then. I am hoping to reduce it a bit further as time goes on. So I would be paying off my mortgage 7 years early
    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • LadyGnome
    LadyGnome Posts: 801 Forumite
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    Well, I’ve solved the mystery of why the strawberry pots on the patio aren’t producing well.

    Yesterday, a squirrel had strawberries for breakfast and today, a pair of jays were eating them as an afternoon snack. :rotfl:
    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • LadyGnome
    LadyGnome Posts: 801 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
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    The payday money shuffle has been done and I have updated my signature. The mortgage payment goes out tomorrow. I will hit the first £100k paid off before the end of the year.

    I caught Mr Gnome feeding the strawberry thief squirrel nuts this morning:eek: I guess that explains why it is so tame. :rotfl:
    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • Watty1
    Watty1 Posts: 4,995 Forumite
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    Did laugh at Mr Gnome feeding your strawberry thief ....
    Made it to mortgage free but what a muddle that became

    In the event the proverbial hits the fan then co-habitees are better stashing their cash than being mortgage free !!
  • LadyGnome
    LadyGnome Posts: 801 Forumite
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    Hello Watty
    Thanks for popping by

    I have resigned myself to losing the strawberries ;)

    Not much news. Ernie and the National Lottery have contributed £30 to the mortgage and the uni fund.

    I am close to payout on Y0u G0v, ips0s and Sw@gbucks
    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • LadyGnome
    LadyGnome Posts: 801 Forumite
    First Anniversary Name Dropper First Post Combo Breaker
    edited 28 March 2020 at 11:25PM
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    Sneaks back in. I am back in the world of work as a freelancer so I can start focussing on this journey again.  I have been sticking to my pay off the mortgage early plan and I am slightly ahead of where I need to be.

    It was quite nice to have a break from the pressure of work and I sorted out some minor medical niggles as well. I am glad to be earning again (or I will be when I actually get paid). 

    Despite being back on this board the mortgage is not my top priority right now. The eldest Gnomeboy is in L6th so hopefully will be going to University in Sept 2021. We will have to top up his loans due to household income so I am putting aside 3 years parental contributions.  I need to save another £1500 for that first. 

    Once that is done then I will focus on the mortgage and various savings pots. 

    MortgageStart Nov 2012 £310,000
    Oct 2022 £143,277.74
    Reduction £166,722.26
    OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
    2022 MFW #78 £10200/£12000
    MFiT-6 #28 £21,772 /£75000
  • PurpleFairy26
    PurpleFairy26 Posts: 3,903 Forumite
    First Anniversary Name Dropper First Post I've been Money Tipped!
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    Lovely to see you back LG seems like you have a focused plan as always. Be good to follow your journey again. Mortgage nearly begins with a 1 too! 
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