£170000 in 10 years

1235754

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  • themadvix
    themadvix Posts: 7,826
    Mortgage-free Glee! Photogenic First Anniversary Name Dropper
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    Hi Try Harder,

    Looks like you've made a brilliant start!

    When you've got your spreadsheets up and running can I recommend you download one of the overpayment ones (there used to be one floating around on the forum by Financial Bliss, but I can't see it now - perhaps someone else might know where it is??). It's hugely inspiring to be able to see how much interest you're saving - I'm no expert, but presumably you'll still save on interest on the interest-only mortgage?! It really keeps the motivation up!

    The other thing that I do that motivates me is keep my OPs in my signature and only update it once a month - every month I change it and realise how much I've achieved in one month! (And my OPs are much smaller than yours!)

    Have you tried selling on your local Facebook group too? It can be good for big things or things it's not worth posting and there's no fees.

    Good luck!
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • Welcome try harder!

    Like themadvix said download one of the over payment calculating excel sheets, I did when I first started years ago and its great to see not only the interest saved but the charts that go with it are a great motivator.

    Have you done a full SOA (Statement of account) to see exactly how much you spend on every little item?

    It looks like you have made a good start, keep going and you will get there!

    Mortgage free - 01/05/2019, mortgage high £200k 2011
  • Busy_Mee1
    Busy_Mee1 Posts: 1,015 Forumite
    Hi Try Harder, don't be so hard on yourself you are doing really well. Is there any other way you can generate income other than EBay ? Have a look on the Boost Your Income boards to get some ideas.
  • shangaijimmy
    shangaijimmy Posts: 3,796
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    I don't mind giving you a copy of my spreadsheet if it helps. Mines been pinched of someone else and the adapted to suit me. I concentrate on net reduction, and daily interest as primary motivating factors, and this spreadsheet does it quite well.

    If you'd like a copy just PM me.
    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
  • try_harder
    try_harder Posts: 1,527
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    Well today i am feeling slightly happier ,first day of my new week and i have paid the weeks overpayment of £242.30 mind you it took around 25 minutes to get through to someone who could take my payment .Because i have 4 sub accounts i have to call in person,i have now gone below £168 000 and below £1000 on my sub account 4-5 weeks and sub account 1 will be gone ,it was only small but its a great thing to see one mortgage gone .Sadly i have had to take the majority of the overpayment from my savings as i overspent on food last week and no ebax sales for the entire week.Happily i have sold 3 items today so that is a great lift not much mooney mind but a few pounds and i have been shopping today and stayed within my daily target so i am hoping this week will be better .Also because of being inspired by other peoples brilliant ebay selling results i am now listing 5 new items a day so fingers crossed.Its a beautiful day here today so all washing on the line which is always a great feeling .
  • Moneyfordreams
    Moneyfordreams Posts: 2,442
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    Lots of people on here do surveys and money switches to make extra cash... i'm a bit rubbish at that though as it takes too much time. I've OP'd usually to my max with all my other bits and bobs I tend to keep these ... Today I've drawn £10 from pulse surveys. They are only 3 questions long, mostly a bit daft TBH, but I've had £30 this year by August It'll be £40. that'll be a nice meal out or some clothes. I've left things tight this month by being extravagant but that tenner is worth at least 4 evening meals :D

    Good luck with getting rid of sub account one. I can't wait for my car loan to go
    Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 2022
  • try_harder
    try_harder Posts: 1,527
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    Thank you so much everybody for all the support and help i am so grateful.Themadvix thank you for the suggestion of a spreadsheet i would so love some especially the mortgage overpayment sheet i am utterly useless on anything other than straightforward stuff on the laptop ,i will ask one of my children to help me ,shangaijimmy has kindly offered to send me one that he uses ,i have seen financialbliss and how to do spreadsheets but i am worried about opening files.I have read fb diary through twice its so interesting and proves what can be done.Thankyou too lincoln-potter i have read your diary you are doing so well with 4 children i wish i had been so good when my 4 were small,i have written a soa and have everything cut to the bone.Thank you busymee1 you are always there to pick me up and do need to read through the boost your income board ,i really need to get a job but must admit im lazy.Many thanks to you shangaijimmy .you are so kind will be messaging you today .
  • try_harder
    try_harder Posts: 1,527
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    Thank you moneyfordreams they are great suggestions i have started doing surveys some are easy as you say and some are very tiring and tedious and sometimes i give up before the end as they are very intense but i am still persevering . I think i have read through some of your diary ,i am getting slightly muddled now with reading so many great stories and every one so inspirational and interesting.
  • Busy_Mee1
    Busy_Mee1 Posts: 1,015 Forumite
    Hi Try Harder - I doubt you are lazy, you just sound to me as if you lack confidence, which is hardly surprising if you have been out of the work place for a while. Perhaps you could think about building your confidence first, things like volunteering (local school or charity shop?) or doing an adult education course ( learn to do spreadsheets lol) . The local library often do courses or can tell you what is available.
    You really are doing well and it sounds to me as if you could run an eBay business, you are obviously very good with that.
  • try_harder
    try_harder Posts: 1,527
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    Ah thank you busymee1 that is very kind ,i havent worked now for about 8 or 9 years i think not full time anyway.I do have quite a few interests i sell vintage wedding dresses and vintage clothing also i am interested in antiques and interior design so i do have a few little things i work on from home .I have seriously thought of starting a business online but it is finding something interesting and financially rewarding but will give it more thought,i like to have several things on the go at the same time so if one isnt selling another might ,but they are all rather quiet at the minute but maybe i need to work harder at it i seem to idle my day away especially when its warm i like to walk through the woods or by the sea which is all lovely but doesnt bring in much money of course.I just love this site everyone is so supportive.
    .
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