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  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 2,712Posts
    • 13,361Thanks
    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 - 38 payments
    • Balance - £95,015.63
    • Diary Reduction Total - £40,984.38
    • Cumulative Overpayments - £22,705.11
    • Monthly Average Overpayments - £597.50
    • Monthly Average Net Reduction - £1,078.54

    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
    • 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; 29-04-2018 at 7:40 AM. Reason: Updated Goals
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
Page 113
    • shangaijimmy
    • By shangaijimmy 21st Nov 17, 7:39 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Decent day yesterday. Made some more progression on Christmas, and have a big delivery coming on Thursday. Other than the little bitty things for the kids we're done!

    Booked a hotel and spa for this weekend. A rare night away from the 3 kids (first one actually since baby SJ was born and she's nearly 2!), for a belated anniversary as we missed it when i was away with work and all paid for with Novembers Matched betting winnings. Don't panic i've only used half of it as the other half will go to the mortgage on December 1st.

    TT'd 33p this morning so now 34p for the week so far... Payday is Friday, so paying out day in Monday and OP day is a week on Thursday!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 22nd Nov 17, 7:43 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    2p TT to start the day off alongside sending a £5.94 quidco payment to the mortgage.

    Another NSD yesterday for the 2 of us and then managed to make £60 MBing last night. So i'll throw that cash to the meal and beer fund on Friday night.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 26th Nov 17, 9:09 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    3p TT for yesterday and £1 today. Weekly TT pot sat at £3.04 so dispatched it to mortgage.

    New week off and running!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • michelle09
    • By michelle09 26th Nov 17, 12:38 PM
    • 777 Posts
    • 4,277 Thanks
    michelle09
    Woot, every little helps.

    Hope the spa was lovely and relaxing?
    • shangaijimmy
    • By shangaijimmy 26th Nov 17, 9:02 PM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Hotel was fantastic. Lovely setting, sat in front of coal fires drinking and eating ! Made better by the fact that when we checked out they'd missed loads of the bill, and I reckon about £75!

    Saturday was back to normal with football, swimming lessons and then Mrs SJ on a night out so I was babysitting. Also spotted that DS2 has shingles! But thankfully it isn't bothering him at all. Today as spent working, MBing and taking boys trampolining.

    Just 3 weeks left in work and more specifically 14 work days!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 26th Nov 17, 9:03 PM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Sold another 6 items on eBay and my MB profit for the month so far is £385, so heading for a £400 month.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 29th Nov 17, 7:47 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Started the day with a 26p TT, and with 2 days before November accounts posting i had a sneaky peek at the spreadsheet! Happy to report that we will definitely be ahead of the November target of £101,000, and on the final stretch of the 100k's....! I'm hoping Mrs SJ will be as excited as i am about dropping a digit off the front!!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • michelle09
    • By michelle09 29th Nov 17, 9:52 AM
    • 777 Posts
    • 4,277 Thanks
    michelle09
    If Mrs SJ isn't, I'm sure you'll get support on here. You're nearly there!

    Wow, I didn't realise MB could be so profitable...
    • themadvix
    • By themadvix 30th Nov 17, 8:37 AM
    • 1,654 Posts
    • 9,659 Thanks
    themadvix
    She should definitely be excited! It's a huge shift mentally, owing only 5 figures - I'm still enjoying the feeling several months later!
    OPs 2017 = £3103
    S&S ISA 2017 = £626
    OPs 2016 = £6142.12
    Starting balance 2012: £132000; balance Dec 2017: £96,822
    MFW2017 no. 38
    • shangaijimmy
    • By shangaijimmy 30th Nov 17, 9:14 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Thanks both. She will be excited i'm certain of it!

    Made a cheeky 10p TT this morning, so the pot for the week is only growing very slowly! I'll be lucky to hit £2!

    As for MB it is profitable but only after a concerted effort to stay in for the long haul. I made about £1000 in 6 months and then £4k in the next 10 once i'd built up a certain amount of money to do lots of offers, and experience which brings discipline to things! Last nights football for example made me £16 from risk free methods. So i either ended up breaking even or making £16. Fortunately Man City scored a very very late winner! Overall it has become a bit of a hobby of mine!

    Day off today but have a poorly DS2 with me. Rotten cough and cold to go with his shingles!
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • Kittenkirst
    • By Kittenkirst 30th Nov 17, 9:33 AM
    • 1,886 Posts
    • 10,117 Thanks
    Kittenkirst
    Oh poor little mite with shingles and the cold/cough!

    You do make MB sound very appealing...I have some info on it which I keep reading over and over again but still haven!!!8217;t taken the plunge!
    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 1st Dec 17, 7:33 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Kitten - Put aside £100 for a month (you can take that back after 2-3 weeks), and just take your time and see it as a hobby and long term project. We view it as 'free money' for nights out, weekends away, hair extensions, bikes etc... (thinking about it Mrs SJ has spent more on her than i have on me!!). As for shingles, he's actually ok other than being tired towards the end of the day and know that they've started to scab its become sore when he knocks them. No swimming tomorrow but he'll be back in school on Monday.

    Nice 31p TT this morning and as its the 1st of a new month its accounts day. I had a quick update of my spreadsheet to distract me from peppa pig (i cant stand peppa pig by the way) and i'll post our figures at lunch in work today. Happy to report that even without an OP in December we'll still hit the lovely under 100k target. So i may reluctantly move some OP money to the Christmas pot so that Mrs SJ can buy even more plastic s***e, or we can have more beer, baileys and chocolate reindeers from ALdi.

    Being serious we don't go overboard on Christmas for the kids, as we let grandparents do that. Having said that they'll still do very well with their main presents off us.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • hiddenshadow
    • By hiddenshadow 2nd Dec 17, 2:22 PM
    • 2,479 Posts
    • 11,344 Thanks
    hiddenshadow
    Well done on sub-100k!
    MFW: £197,100 (2013) to £100,646 (May '18)
    2018 MFW #56: £4,000/£105,000 3% / MFiT-T4 #15: £58,854/£90,000 65%
    • shangaijimmy
    • By shangaijimmy 2nd Dec 17, 8:34 PM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Thank hidden, not quite there yet...
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 2nd Dec 17, 8:44 PM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Month 33 - November 2017
    Well the month of November has evaporated before our eyes! One month closer to being MF and if i am to get under 100 payments for this diary (my big goal) we are now 1/3 there

    Monthly Figures
    • Closing Balance - £100,551.94
    • Overpayments - £692.56
    • Net Reduction - £1,177.08
    • Daily Interest - £4.52 (5p reduction)
    • % Loan Remaining - 73.94%
    • LTV - 45.50%

    Diary Figures
    • Ave Overpayments - £594.25
    • Average Net Reduction - £1,074.18
    • Total Overpayments - £19,610.24
    • Total Reduction - £35,448.08
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 3rd Dec 17, 8:10 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    £1 TT this morning with my cup of tea and then sent the weekly pot of £3.32 to the mortgage.

    Following last nights accounts posting i had a chat with Mrs SJ about our progress and journey and she was astounded! So i have extra traction with her commitment for the next few months!

    Being under 100k for New Year is now a formality so i've started thinking about next years targets. On the 2018 challenge i've gone for £8k in OP's which will be an extra £800 on 2017, or an extra £66 per month, or overall average OP of £666.67 per month!

    I've plumped for £8k OP's as that will hopefully nudge us under the £86k mark, which is a £50k balance reduction since my diary challenge started and will be in 46 months/payments.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • Kittenkirst
    • By Kittenkirst 3rd Dec 17, 8:22 AM
    • 1,886 Posts
    • 10,117 Thanks
    Kittenkirst
    Crackin targets there SJ. I!!!8217;ve started thinking of ours for 2018. We!!!8217;ve been in our home over a year now so I think it!!!8217;s time to reassess our budgets and spending

    You can definitely do it!
    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
    • greent
    • By greent 3rd Dec 17, 8:49 AM
    • 7,010 Posts
    • 71,571 Thanks
    greent
    Brilliant progress, jimmy!
    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) £877.49/£4000
    Net sales 2018 £491.03/£1000 PAYDOX18 (#15) £13869.38/£18694.38
    • shangaijimmy
    • By shangaijimmy 5th Dec 17, 7:42 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Kitten - all those 'normal' mortgage prisoner type people of the world have no idea what they're missing out on not being able to study and fiddle with budget spreadsheets! My spreadsheet is permanently open on my laptop!

    23p TT today to follow my 26p TT yesterday so off and running for December. TT's keep me going when little is happening money wise.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
    • shangaijimmy
    • By shangaijimmy 5th Dec 17, 7:57 AM
    • 2,712 Posts
    • 13,361 Thanks
    shangaijimmy
    Oh 3 more ebay items sold on Sunday so i'll nip out of work and post them today. Also had 2 bids on the 92 items that i relisted. Still got another bag of items to list and i'm guessing there'll be 25 things in.
    MFW: Turning June 2036 into March 2025... 38//120 Payments Challenge, Diary Reduction £40,984.38
    Aug 2009: £163,051 // Current: £95,015.63 // Avg Daily Interest £4.27
    MFiT-T4 #8 - 74.24% of £41,000
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