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  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 2,736Posts
    • 13,596Thanks
    shangaijimmy
    New Diarist - Attacking the Banks!
    • #1
    • 13th Mar 15, 12:18 PM
    New Diarist - Attacking the Banks! 13th Mar 15 at 12:18 PM
    Hi all,
    Thanks for popping and helping me to stay motivated. This would be the 3rd version of the opening post, but is reflective of where we are currently at. Lots has changed over the last 3 yrs, not least adding a 3rd child to our household!

    This post details my current goals, and as it seems a shame to ignore previous achievements I've summarised them below. This is a 120 payment challenge which would knock 11yrs off our initial draw down of 30yrs. I'm hoping for 100 payments so we'll see how we progress!

    Achievements - 39 payments
    • Balance - £93,938.84
    • Diary Reduction Total - £42,061.17
    • Cumulative Overpayments - £23,292.60
    • Monthly Average Overpayments - £597.25
    • Monthly Average Net Reduction - £1,078.49

    Long Term Targets
    • 5yr/60th payment - £70,000
    • 7yr/84th payment - £38,000
    • 9yr/108th payment - £7,000

    Targets for 2018
    • Jan 2019 - £98,200 - Actual £98,173.08 (£26.92 ahead)
    • Feb 2018 - £97,000 (End of Yr 3 Balance £39k diary reduction) - Actual £97,132.75 (£132.75 behind target)
    • Mar 2018 - £95,900 - Actual £96,102.38 (£202.38 behind target)
    • Apr 2018 - £94,800 - Actual £95,015.63 (£215.63 behind target)
    • May 2018 - £93,700 - Actual £93,938.84 (£238.84 behind target)
    • June 2018 - £92,600
    • July 2018 - £91,500
    • Aug 2018 - £90,400
    • Sept 2018 - £89,300
    • Oct 2018 - £88,200
    • Nov 2018 - £87,100
    • Dec 2018 - £86,000
    Last edited by shangaijimmy; 02-06-2018 at 8:25 AM. Reason: Updated Goals
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
Page 111
    • shangaijimmy
    • By shangaijimmy 27th Sep 17, 8:52 PM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    Long day negotiated today and have 2 days off now . I've worked the last 13 so am definitely due!

    Dog walk, snooze and tidy up The garden is all that I've planned.

    NSD today so a great start to post payday. I'm also counting down the days to posting September accounts, and then submitting my MFi3 figures. A touch early but I'll be away when they are due.

    Next on the horizon is house insurance.
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • A Frayed Knot
    • By A Frayed Knot 27th Sep 17, 9:10 PM
    • 2,394 Posts
    • 10,727 Thanks
    A Frayed Knot
    Enjoy your days off - well earned, while I start back tomorrow after 5 days off.

    Laying low as lots going on in my head.
    • greent
    • By greent 28th Sep 17, 9:20 AM
    • 7,077 Posts
    • 72,123 Thanks
    greent
    Glad to hear Mrs SJ is using the bike - she's probably already used it more than I ever did mine!

    Have a well earned couple of days off
    x
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • shangaijimmy
    • By shangaijimmy 29th Sep 17, 5:40 PM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    Well the rain scuppered my outside jobs (i have to confess that i wasn't devastated at that though), so managed a few inside jobs spread around dog walks. I did manage to burn my finger on the hoover (i'm not going to embares myself any further by explaining).

    In money news i TT'd a huge 30p this morning!
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • jodles16
    • By jodles16 1st Oct 17, 11:08 AM
    • 1,315 Posts
    • 3,971 Thanks
    jodles16
    Still doing amazingly well SJ! So exciting you will be sub 100k! Fantastic!

    Jodles
    MFW2017 #29 1200.24/4524
    MFiT #66
    Overall aim 10,124.20/21,743 (£156,000)
    2016- Jan-£177,472, Apr-£173,195.04, July- £171,417.47 Oct- 169,366
    2017- Jan- 167,347.80 Apr- July- Oct-

    • Retro.Monkey90
    • By Retro.Monkey90 3rd Oct 17, 9:07 AM
    • 70 Posts
    • 226 Thanks
    Retro.Monkey90
    Excellent progress SJ! I feel like we need another long, hard look at our budget and spending again as with all the money shooting off all over the place with our new mortgage, I have no idea what we are actually spending! Think I will get a shock....at least my TTs give me solace
    Original Mortgage: £134k Sept 2044 Current Mortgage: £126k Neutral Oct 2039
    Ideal goal: TBC
    Bonus OPs made 2017: 7 total= £159.91
    Save
    Save
    • shangaijimmy
    • By shangaijimmy 5th Oct 17, 8:40 PM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    With you on that one retro. We seemed to leak money in September. It happens every now and again and a good budget session always helps to bring things back on track. Hopefully we can bring ours back before the Christmas spend kicks in.
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 5th Oct 17, 8:49 PM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    September - Month 30
    A few days late but here goes with our September accounts:

    Monthly Figures
    • Closing Balance - £102,735.93
    • Total OP's - £704.81
    • Net Reduction - £1,186.38
    • Daily Interest - £4.62 (5p reduction)
    • LTV - 47.02%
    • % Loan Remaining - 76.41%

    Diary Figures
    • Cumulative OP's - £17,684.52
    • Cumulative Net Reduction - £32,077.72
    • Average OP's - £589.48
    • Average Net Reduction - £1,069.26
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • A Frayed Knot
    • By A Frayed Knot 5th Oct 17, 10:16 PM
    • 2,394 Posts
    • 10,727 Thanks
    A Frayed Knot
    Well done on the scores on the doors

    Your nearly hitting that 5 figure mark - can see within easy reach


    a quarter of the way on your 120 payments challenge
    Always have 00.00 at the end of your mortgage balance and one day it will all be 0's
    Target 18 months 6/24
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69, 2016/£3186.80, 2017 £4068.97

    • Jessy103
    • By Jessy103 6th Oct 17, 9:45 AM
    • 525 Posts
    • 2,237 Thanks
    Jessy103
    Great figures SJ! Not be long until you're under £100K!!! I hope you're going to cross it off the chart in a special colour to mark the occasion!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Jan 2018 - £58,500.00
    Overpayment Target for 2018 - £5,000 /£663.78
    Jan - £369.23 Feb - £294.55
    • shangaijimmy
    • By shangaijimmy 8th Oct 17, 11:16 AM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    1/4 through already, wow! Of those 90 payments left im determined to shave 10-12 off that. And as for a special colour i think it deserves a new printed off chart!!

    Work getting in the way of life at the minute. I go away for 24 days with work tomorrow and the prep work in the lead up has been intense. Curently at a trampoline centre with DS 1& 2 working out how to tell them tonight that im going away!! Have left it to tonight figuring there's no point upsetting them for longer.

    TT'd £1 this morning and OP'd ladt weeks pot of £4.36 to start Octobers exploits.
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • Moneyfordreams
    • By Moneyfordreams 8th Oct 17, 11:44 AM
    • 990 Posts
    • 4,828 Thanks
    Moneyfordreams
    Hope work goes well for you.

    24 days is a long time to be away. our little GD (3 3/4 yrs) barely noticed her mum was on holiday last month. Her mum has gone to NYC with work today as is excited for her sleepovers.... admittedly only 5 days. Hurrah for whats app and facetime.

    Best wishes to your and mrs SJ
    Mortgage restart June 2018 £119950
    zero personal cc
    6x166 for sofas ending November 2018
    £2500 on DD1s car cc
    • michelle09
    • By michelle09 8th Oct 17, 5:52 PM
    • 786 Posts
    • 4,363 Thanks
    michelle09
    So close to the 5 figures, that's wonderful!
    • shangaijimmy
    • By shangaijimmy 14th Nov 17, 1:43 PM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    Well 24 days away... then a mad 10 days in work when i came back, i'm just now breathing out again!

    Taking a rare opportunity of a lull in work as our server is currently down, and this post is the notice that i'm back and raring to go for that sub £100k push in 7 weeks

    I have updated my spreadsheet for October, and fortunately there isn't too much damage from me not being here. I'll publish October accounts tonight and then update the mortgage free groups.

    Hope everyone is all sorted for Christmas I'm certain Mrs SJ has got it all covered
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • greent
    • By greent 14th Nov 17, 6:19 PM
    • 7,077 Posts
    • 72,123 Thanks
    greent
    Welcome back
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    BTL Mtge 12/16 £69786. 2018 OPs (#18) £1068.37/£4000
    Net sales 2018 £522.39/£1000 PAYDOX18 (#15) £18564.38/£18918.90
    • Jessy103
    • By Jessy103 15th Nov 17, 7:54 PM
    • 525 Posts
    • 2,237 Thanks
    Jessy103
    Good to have you back SJ!
    Original Mortgage Amount 2007 - £87,310.50
    Mortgage Amount Jan 2018 - £58,500.00
    Overpayment Target for 2018 - £5,000 /£663.78
    Jan - £369.23 Feb - £294.55
    • shangaijimmy
    • By shangaijimmy 15th Nov 17, 10:24 PM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    Month 32 - October 2017
    Well the months are rattling past... a little late but here's Octobers accounts. A little down on what i'd hoped for but as i was away for 3 weeks and with little control we've done well.

    Monthly Figures
    • Total Op's - £528.35
    • Net Reduction - £1,006.90
    • Closing Balance - £101,729.00
    • Daily Interest - £4.57 (5p reduction)
    • LTV - 46.03%
    • % Loan Remaining - 74.80%

    Diary Totals
    • Average OP's - £591.18
    • Average Net Reduction - £1,070.97
    • Cumulative OP's - £18,917.68
    • Diary Net Reduction - £34,271.00

    ** I've updated the challenges i am in and am little bit disappointed that i'm behind on the MFi3 challenge. Am in yellow with a shortfall of £675, so i have a task on now to find a way to make that up over the next 6 months!
    Last edited by shangaijimmy; 15-11-2017 at 10:32 PM.
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 16th Nov 17, 8:13 AM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    Well up and at it today, fresh with the enthusiasm of a day off work! 2 piles of washing done, kids all prepped for school run!

    Quick check of accounts which don't look too clever but thankfully its payday tomorrow for Mrs SJ, which means we'll inch closer to the magical £99,999k Christmas target.... So exciting!
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
    • Kittenkirst
    • By Kittenkirst 16th Nov 17, 8:26 AM
    • 1,897 Posts
    • 10,193 Thanks
    Kittenkirst
    Great figures there SJ. How are you plotting to make up your shortfall?
    We have a small shortfall to our stretch OP target for year end so I!!!8217;m scouting out things we can sell on eBay/fb in the run up to Christmas but looking for more inspiration
    2018 MFW #20 - OP £1799.61/ £3000 60%
    Mar: £218 Apr: £528.91 May: £361.07

    Mortgage Oct '16 £170.995 LTV 90% end: Nov 2041
    Overpayments 2016 £255.50 2017 £2600.40
    • shangaijimmy
    • By shangaijimmy 16th Nov 17, 11:46 AM
    • 2,736 Posts
    • 13,596 Thanks
    shangaijimmy
    I have to admit i have no plan for the shortfall just yet! Our 3 yr challenge of £41k overall reduction was a massive stretch anyway and having to find an extra £5k from somewhere. So in the grand scheme of it we are actually about £1,800 on the way to the extra £5k!
    MFW: Turning June 2036 into March 2025... 39//120 Payments Challenge, Diary Reduction £42,061.17
    Aug 2009: £163,051 // Current: £93,938.84 // Avg Daily Interest £4.22
    MFiT-T4 #8 - 74.24% of £41,000
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