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  • FIRST POST
    • shangaijimmy
    • By shangaijimmy 13th Mar 15, 12:18 PM
    • 2,776Posts
    • 13,826Thanks
    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 - 41 payments
    • Balance - £91,863.15
    • Diary Reduction Total - £44,136.86
    • Cumulative Overpayments - £24,381.01
    • Monthly Average Overpayments - £594.66
    • Monthly Average Net Reduction - £1,075.61

    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
    • Sept 2018 - £89,300
    • Oct 2018 - £88,200
    • Nov 2018 - £87,100
    • Dec 2018 - £86,000
    Last edited by shangaijimmy; 31-07-2018 at 9:08 AM. Reason: Updated Goals
    MFW: Turning June 2036 into March 2025... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
Page 144
    • Busy Mee1
    • By Busy Mee1 7th Aug 18, 12:45 PM
    • 675 Posts
    • 3,028 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
    • 2,462 Posts
    • 10,900 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
    Target 16 months 8/24
    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
    • 2,776 Posts
    • 13,826 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... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • greent
    • By greent 11th Aug 18, 3:20 PM
    • 7,242 Posts
    • 73,573 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) £3290.25/£4000
    Net sales 2018 £614.82/£1000 PAYDOX18 (#15) Done £18918.90
    • Suffolk lass
    • By Suffolk lass 12th Aug 18, 11:27 AM
    • 2,012 Posts
    • 21,332 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 88.72% after Q9 tiny bit ahead of where I should be
    Save £12k in 2018 #53 - after June 55.17% £5,517.10/£10,000
    OS Grocery Challenge 2018 spent £1,288.55/£3,000 including stores so far 42.95% of my annual budget at the end of June
    My DFD is here
    • shangaijimmy
    • By shangaijimmy 15th Aug 18, 7:49 AM
    • 2,776 Posts
    • 13,826 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... 41//120 Payments Challenge, Diary Reduction £44,136.86
    Aug 2009: £163,051 // Current: £91,863.15 // Avg Daily Interest £4.13
    MFiT-T4 #8 - 80.74% of £41,000
    • chumpy45
    • By chumpy45 15th Aug 18, 8:45 AM
    • 325 Posts
    • 1,420 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 New Target Date Sept 2020
    • Suffolk lass
    • By Suffolk lass 15th Aug 18, 11:06 AM
    • 2,012 Posts
    • 21,332 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 88.72% after Q9 tiny bit ahead of where I should be
    Save £12k in 2018 #53 - after June 55.17% £5,517.10/£10,000
    OS Grocery Challenge 2018 spent £1,288.55/£3,000 including stores so far 42.95% of my annual budget at the end of June
    My DFD is here
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