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  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 2,810Posts
    • 14,056Thanks
    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 - 45 payments
    • Balance - £87,653.30
    • Diary Reduction Total - £48,224.61
    • Cumulative Overpayments - £26,599.31
    • Monthly Average Overpayments - £591.10
    • Monthly Average Net Reduction - £1,071.66

    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 - Actual £92,897.77 (£297.77 behind target)
    • July 2018 - £91,500 - Actual £91,863.15 (£363.15 behind target)
    • Aug 2018 - £90,400 - Actual £90,829.35 (£429.35 behind target)
    • Sept 2018 - £89,300 - Actual £89,783.45 (£483.45 behind target)
    • Oct 2018 - £88,200 - Actual £88,741.06 (£541.06 behind target)
    • Nov 2018 - £87,100 - Actual £87,653.30 (£553.30 behind target)
    • Dec 2018 - £86,000
    Last edited by shangaijimmy; 09-12-2018 at 9:43 PM. Reason: Updated Goals
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
Page 144
    • Busy Mee1
    • By Busy Mee1 7th Aug 18, 12:45 PM
    • 698 Posts
    • 3,253 Thanks
    Busy Mee1
    Cut yourself some slack Jimmy ( and leave Mrs SJ her kidney !) It is August after all, the kids are off school and need entertaining and feeding. I remember when mine were school age thinking that all of my August wage just got spent on the kids. You will be back to normal in September.
    • A Frayed Knot
    • By A Frayed Knot 7th Aug 18, 2:51 PM
    • 2,585 Posts
    • 11,383 Thanks
    A Frayed Knot
    AFK - I'm actually wondering if i got a mid month slump effect because i knew we'd wouldn't find any little extras. So it made the month feel like an eternity as there was so little activity other than standing order OP's.
    Originally posted by shangaijimmy
    What happened to your eb@y stuff treasures ? - ran out ? . . . I know this normally goes on the kids birthday's, however if it's a poor mortgage o/p month, then could you use this and on a better o/p mortgage month, then "pay back" the birthday's fund.

    I feel like I'm encouraging you to "steal" but then again, I'm only encouraging you to do the same as you encouraged me, on a much larger scale, when my finger was hoovering over the button

    One of the best things, I ever done, and wish I had my LBM sooner. Paying back still on target.
    Always have 00.00 at the end of your mortgage and one day it will all be 0's
    Target10 9 8 DAYS MAYBE 7 6 5
    MFMarch 30 Re/M Oct 23 Target -Dec 19
    O/P's 2014/£4000, 2015/£6294.69, 2016/£3186.80, 2017 £4068.97

    • shangaijimmy
    • By shangaijimmy 11th Aug 18, 7:49 AM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    As ever you are all correct, and this forum continues to give everyone motivation when they need it the most.

    So we are now officially out of money for the month. Our sons birthday, sis in law and bro in laws 50th have wiped us out. So we've had to dip into emergency fund (now i know why that is needed) for our food shop. I suppose in the grand scheme of things this would be the first month out of 42, so we are doing well (3 kids, 2 cars and an all that said...).

    I've had a few days away with work so been out of circulation so to speak. I've had a word with myself and am all motivated again... Control what we can, influence what we can and do away with what we can't control!

    Running seems to back on schedule and knocked off 15miles in last 5 days. I am now 168 miles into my 500 target. I do think i'll finish about 50miles short but at the minute i am so enjoying the head space (no music which is so refreshing) so if i can nudge upto 20miles a week, that will take 5miles off the shortfall.

    So onwards with a renewed vigour!
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • greent
    • By greent 11th Aug 18, 3:20 PM
    • 7,606 Posts
    • 77,537 Thanks
    greent
    Glad you're 'back' Jimmy!

    I second what others have said - August with kids is an expensive month (I remember spending £400 on back to school shoes/ trainers/ rugby boots the one year....!! ) - and I personally also find Sept a little thin as I'm playing catch up with August. However, I also really like Sept - that whole back to school thing almost feels like a new year start again, so (for me) it's all about re-motivation in that last stretch to the year end (Plus flebay tends to pick up in Sept/ Oct - always a bonus!)
    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) £8K/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • Suffolk lass
    • By Suffolk lass 12th Aug 18, 11:27 AM
    • 2,236 Posts
    • 22,959 Thanks
    Suffolk lass
    My summer profligacy is usually paid for in September and October, as the Halifax Clarity Card statements spread over two months. I always feel disappointed with myself when the TTs and OPs are less than I hope.


    This year I have let the TTs build up in the instant saver (read 0.1 interest) account so I can pay down the CCs without impacting but really I would be better off paying down the mortgage and reducing that daily interest sooner, rather than later. In fact, I'm going to do that now.
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 108.06% £12,967.42/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £2,410.06/£3,000 including stores 80.34% of my annual budget at the start of Dec.
    My DFD is here
    • shangaijimmy
    • By shangaijimmy 15th Aug 18, 7:49 AM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    August and those pesky kids!! We trudge ever closer to payday and only 9 sleeps remaining! Just petrol in 1 car and a food shop to get through!! Mrs SJ will be getting a no spending warning this weekend!!

    Its never hit us like this before in August which has taken me a bit by surprise i suppose. I also reckon the biggest frustration is not doing my daily TT's.

    Anyway 2 runs done this week. 7miles on Monday and 4 yesterday. Now at 179 total miles, so i have an outside chance of hitting the 200 mark by the start of next weekend.
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • chumpy45
    • By chumpy45 15th Aug 18, 8:45 AM
    • 361 Posts
    • 1,605 Thanks
    chumpy45
    I feel your pain SJ. Money is slipping through our fingers like sand. Even worse there are now 2 girlfriends in the mix so itís even worse however it is lovely to have them all here. Order should be restored in September. In the meantime I am going to make sure I enjoy it as DS1 leaves home for good in Sep (not just uni, the real world ).
    Starting Mortgage 01.08.08 £171,209.24. Mortgage as at 01.09.15 - £54,780.04; 01.11.15 £49,577.04;01.03.16 £45,799.32; 01.08.16 £42,418.93; 01.10.16 £40,119.5 01.02.17 £36,584.00; 01.04.17 £34,694.71 09.06.17 £32,828.89 MFW Target date Sept 2017; :) 06.08.18 £24,769.47 01.11.18 £23,825.00 New Target Date Sept 2020
    • Suffolk lass
    • By Suffolk lass 15th Aug 18, 11:06 AM
    • 2,236 Posts
    • 22,959 Thanks
    Suffolk lass
    Ah yes chumpy45, the moment they leave home... many tears. We bribe ours back to cat-sit when we go away but it still means a certain amount of devastation, and that is to the house... are all children, or offspring, untidy at their parents' homes?


    More than 9 sleeps to pay-day here SJ
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 108.06% £12,967.42/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £2,410.06/£3,000 including stores 80.34% of my annual budget at the start of Dec.
    My DFD is here
    • shangaijimmy
    • By shangaijimmy 21st Aug 18, 11:57 AM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    Chumpy and Suffolk - we're a good few years behind you in terms of the kids leaving (uni and for good). The thing that amazes me with 3 little people's is the sheer amount of stuff (replace stuff for junk, plastic s**t, or just general carp - depending on how much of a tip the house is in) we have accumulated. And i have to say the majority has been bought by grandparents. Toys from the charity shop that a) we do not need, b) we already have one of the equivalent and c) half the time are broken or with bits missing. I'm then the bad one for returning said item to charity shop a few weeks later!!

    Anyway i have been lax again and haven't logged on for a week, more out of avoidance of money situation. But mow the end is nearing sight with only 2 sleeps to payday. Praise the Lord!
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • southantrim3
    • By southantrim3 21st Aug 18, 2:06 PM
    • 791 Posts
    • 1,604 Thanks
    southantrim3
    As promised our monthly budget.
    • Income
    • £3402.55

      Outgoing
    • Mortgage - £687
    • Council Tax - £173
    • House Insurance - £11.38
    • Mortgage Cover - £33.83
    • Life Cover - £13.80
    • Mrs SJ Gym - £9.99
    • Mrs SJ Mobile - £10
    • Line Rental - £16.40
    • Water - £42.69
    • Gas & Electric - £120 (paying back some money from not paying enough)
    • Me Private Pension - £122.57
    • Car Insurance - £18.20
    • Car Insurance 2 - £18.82
    • TV Licence - £12.12
    • Pet Insurance - £9.30
    • Mortgage Overpayment - £423

      Total - £1737.63

      Monthly Allowances
    • Petrol Me - £80
    • Petrol Mrs SJ - £120
    • Food - £320
      Total - £520

    We put £600 away into various savings pots (kids, long term, holidays, cars). After all this plus some spend allowances for each of us we have £300 surplus each month that we use for anything that crops up such as dentists, new tyres, school trips decorating, hair cuts, nights out etc...

    So we're quite planned without being too strict. Always trying for the balance between paying off mortgage debt (we have no other debt), and living!
    Originally posted by shangaijimmy
    Keep referring back to your SOA from a few years ago and noticed the part (that I've put in bold) where you seem to organise the rest of your money into various pots...

    This is were I fall down and have recently started to set up general basic savings account pots for things like oil, presents, holiday etc by paying standing order at the start of each month... Is this generally the way you go about it and if so can you give ideas what sort of other pots you use?
    Everybody's Normal Till You Get to Know Them.
    • shangaijimmy
    • By shangaijimmy 22nd Aug 18, 3:55 PM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    Wow, that was an old post! Amazed that anyone can refer back to that!! Also a nice reminder that i could do with updating it (scurries off to investigate for later).

    I have various savings accounts for those types of things; i.e. Holidays, Car Tax, Christmas, Kids Misc (those times when they grow out of every t shirt at the same time) and everyday Misc (birthday presents etc...). They're all easy access for a quick transfer.

    We then have kids savings for Uni (not so easy access) x 3, S&S Isa for our long term savings, and then 1 more savings account that kinda acts as our immediate EF.

    My problem is that Mrs SJ probably doesn't know where it all is, so i really should do a financial whereabouts fact sheet...
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • shangaijimmy
    • By shangaijimmy 24th Aug 18, 8:03 AM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    It's arrived...We have money once again! Payday for both of us today, woo hoo!

    I celebrated with a 42p TT, which is the first TT for 3 weeks!
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • Suffolk lass
    • By Suffolk lass 24th Aug 18, 11:41 AM
    • 2,236 Posts
    • 22,959 Thanks
    Suffolk lass
    It's arrived...We have money once again! Payday for both of us today, woo hoo!

    I celebrated with a 42p TT, which is the first TT for 3 weeks!
    Originally posted by shangaijimmy
    Ooh I know! DH gets paid today so I swept the £25.11 over the hundred away into the instant savings (TT pot) before he even knew it was there!
    MFiT T4 #2 update 90.89% after Q11 against revised stretch target of £60k balance
    Save £12k in 2018 #53 108.06% £12,967.42/£12,000 (after upping my target from £10k to £12k in October)
    OS Grocery Challenge 2018 spent £2,410.06/£3,000 including stores 80.34% of my annual budget at the start of Dec.
    My DFD is here
    • shangaijimmy
    • By shangaijimmy 26th Aug 18, 8:34 AM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    I like your tactic!

    Well i followed Fridays TT with a small 18p yesterday and a further £1.00 this morning. It felt good to OP the £2.60 that was in the pot, and i added to this with £3.29 from one of the 5% current accounts.

    Today will be our last school hols day out. We're heading to a museum and then for some food. We do have £40 worth of tesco clubcard vouchers for bella italia so the days overall costs shouldn't be too high. Then i'm determined we'll be back to normal service for the last 4 months of the year. My initial ambitious Christmas target was to get under £86k, which i'm incredibly doubtful that we'll hit, so with a big push lets see just how close i can get us.

    In other news i had the pooch at the vets for his annual booster and check up. I was horrified at how much weight he has put on, so poor dog is on an emergency diet! Treats are limited to 2 biscuits a day and he's food is being measured out. Lets just say i can see how its happened, and i feel dreadful that ive done it too him!
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • greent
    • By greent 26th Aug 18, 9:19 AM
    • 7,606 Posts
    • 77,537 Thanks
    greent
    Can pooch go running with you?
    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) £8K/£7500
    Net sales 2018 £751.22/£1000 PAYDOX18 (#15) Done £18918.90
    • CathT
    • By CathT 26th Aug 18, 2:26 PM
    • 5,825 Posts
    • 40,736 Thanks
    CathT
    Final stretch of the holidays now SJ, hopefully the majority of child related spends are done?
    Dec 2018 -
    part 1 - £73,558 part 2 - £44,554
    Total - £118,112 110 months to go!
    • michelle09
    • By michelle09 26th Aug 18, 5:47 PM
    • 826 Posts
    • 5,193 Thanks
    michelle09
    Poor pooch, how does he feel about the new diet?
    • shangaijimmy
    • By shangaijimmy 26th Aug 18, 9:03 PM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    Well today ended up costing £40 including train fares for us all, so I'm happy with that. And we had a good day. Got soaked at the beginning and got splashed by a taxi at traffic lights - all part of the memories.

    No chance pooch can come running. He's only dinky!
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • shangaijimmy
    • By shangaijimmy 27th Aug 18, 8:38 AM
    • 2,810 Posts
    • 14,056 Thanks
    shangaijimmy
    £1 TT this morning. Long dog walk planned this morning then heading off to a National Trust place for the day with the kids.
    MFW: Turning June 2036 into March 2025... 45//120 Payments Challenge, Diary Reduction £48,224.61
    Aug 2009: £163,051 // Current: £87,653.30 // Avg Daily Interest £3.94
    MFiT-T4 #8 - 80.74% of £41,000
    • jodles16
    • By jodles16 10th Sep 18, 10:46 AM
    • 1,369 Posts
    • 4,161 Thanks
    jodles16
    Hey SJ,


    Looks like you are still kicking butt since I was last here! Amazing progress! Hope your birthay was fabulous!


    Inspiring as always, great job on the running and keeping on top of everything!


    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-

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