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  • FIRST POST
    • try harder
    • By try harder 1st Jun 19, 2:21 PM
    • 867Posts
    • 3,441Thanks
    try harder
    140000 in seven years
    • #1
    • 1st Jun 19, 2:21 PM
    140000 in seven years 1st Jun 19 at 2:21 PM
    I feel i have let my old diary slip somewhat so time for a new one

    I will have 155000 to pay at the end of seven years .I have 15000 saved after spending around 5000 on improvements to the house .
    This will leave a difference of 140000 so this will mean I need to save around 385 a week or 1666 a month to pay off my mortgage completely in seven years . Good news is it has been valued again at just over 300000 so I wont be homeless hopefully.

    Now just to keep my mind focused !
Page 1
    • MovingForwards
    • By MovingForwards 1st Jun 19, 2:39 PM
    • 2,311 Posts
    • 2,736 Thanks
    MovingForwards
    • #2
    • 1st Jun 19, 2:39 PM
    • #2
    • 1st Jun 19, 2:39 PM
    Good luck, keep focused, talk to yourself as much as you need to and find some higher interest accounts as that will help you achieve your goal
    • Busy Mee1
    • By Busy Mee1 1st Jun 19, 5:55 PM
    • 963 Posts
    • 4,994 Thanks
    Busy Mee1
    • #3
    • 1st Jun 19, 5:55 PM
    • #3
    • 1st Jun 19, 5:55 PM
    Hi Try Harder great to see you with a shiny new diary. Good news about your house valuation too x
    • beanielou
    • By beanielou 1st Jun 19, 9:32 PM
    • 66,976 Posts
    • 303,066 Thanks
    beanielou
    • #4
    • 1st Jun 19, 9:32 PM
    • #4
    • 1st Jun 19, 9:32 PM
    Happy shiny new diary
    Lou~ Debt free Wanabe No 55 DF 03/03/14. MFW. 17 months to mortgage freedom.
    **Credit card debt free 30/06/10~**
    **Weight loss 2 stone 11 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • myamyamoo
    • By myamyamoo 2nd Jun 19, 12:27 PM
    • 54 Posts
    • 67 Thanks
    myamyamoo
    • #5
    • 2nd Jun 19, 12:27 PM
    • #5
    • 2nd Jun 19, 12:27 PM
    Will be following. Good luck.
    Emergency fund 1000
    1 debt vs 100 part 20: 1000/1000
    DFD May 2032 trying to make it sooner
    • LeighofMar
    • By LeighofMar 2nd Jun 19, 8:10 PM
    • 156 Posts
    • 390 Thanks
    LeighofMar
    • #6
    • 2nd Jun 19, 8:10 PM
    • #6
    • 2nd Jun 19, 8:10 PM
    Sounds like an exciting challenge. We will be cheering you on. Is 7 years a significant number for you? I understand because I want to be MF by 45. Is it a certain age or milestone for you too? Best wishes.
    • Throwaway1
    • By Throwaway1 2nd Jun 19, 8:40 PM
    • 438 Posts
    • 763 Thanks
    Throwaway1
    • #7
    • 2nd Jun 19, 8:40 PM
    • #7
    • 2nd Jun 19, 8:40 PM
    I feel i have let my old diary slip somewhat so time for a new one

    I will have 155000 to pay at the end of seven years .I have 15000 saved after spending around 5000 on improvements to the house .
    This will leave a difference of 140000 so this will mean I need to save around 385 a week or 1666 a month to pay off my mortgage completely in seven years . Good news is it has been valued again at just over 300000 so I wont be homeless hopefully.

    Now just to keep my mind focused !
    Originally posted by try harder

    Good luck! My husband and I are currently having to pay 1666.66 a month to keep in sight of our goal of paying the maximum 10% allowed this year.
    Make 2019 in 2019: 785/2019
    MFW: OP in 2019: 10,458.32/16,125
    • try harder
    • By try harder 8th Jun 19, 8:37 AM
    • 867 Posts
    • 3,441 Thanks
    try harder
    • #8
    • 8th Jun 19, 8:37 AM
    • #8
    • 8th Jun 19, 8:37 AM
    Thank you all. It has not been a good week personally but somehow I have still managed to stay focused on the money side of things which is something I guess .

    Week 1.
    All bills paid ,food and diesel for two cars.
    Savings 529.52. A win on the Premium Bonds and a bank switch plus a 50 cheque from Populuslive helped to push up the savings this week and I am very happy with this , I don't expect other weeks to be as good but I have beaten my target of 385.

    Total savings 15529.52

    I have lots more ideas for making money from nothing for this coming week I just need to stay focused , I have several bits to list on Ebax too
    • themadvix
    • By themadvix 8th Jun 19, 6:52 PM
    • 2,558 Posts
    • 14,147 Thanks
    themadvix
    • #9
    • 8th Jun 19, 6:52 PM
    • #9
    • 8th Jun 19, 6:52 PM
    Hey TH, nice to see you back. Good luck and hope the focus stays with you!
    • fruitloop04
    • By fruitloop04 9th Jun 19, 6:32 PM
    • 224 Posts
    • 626 Thanks
    fruitloop04
    Wow! I am so impressed you are going to pay your mortgage off in 7 years! We owe about the same - 142,000 from 1st May 2019 over a 23 year term. We are going to move in the next couple of years and there is likely to be a mortgage increase but hopefully that will be the our forever home. Determined to pay off as much as we can off this house to get the best rate on the next! You have inspired me to try harder
    01.05.2019 - Mortgage - 142,000 Total overpaid to date: 5006.50. Mortgage amount 3/10/19 135,451.55 MFW #119 5006.50/6000.00
    CC Debt free
    • try harder
    • By try harder 14th Jun 19, 10:21 PM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Thank you both for the support.

    Week 2
    All bills paid , food and diesel for two cars
    Savings 563.13 mostly made up from my husbands overtime as usual , ebax sales and another bank switch oh plus a cashback from switching electric companies.

    Total savings 16092.65

    I am so pleased with the amount that I have saved this week . I definitely need to cut back on the amount I am spending on food so that will be one of my main aims for week 3 plus getting more items listed on ebax .
    • Busy Mee1
    • By Busy Mee1 15th Jun 19, 11:53 AM
    • 963 Posts
    • 4,994 Thanks
    Busy Mee1
    Great savings Try Harder, it sounds like you are back on track.
    • try harder
    • By try harder 21st Jun 19, 2:28 PM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Thank you Busy Mee1 as always

    Week 3
    All bills paid , food and diesel for both cars
    Savings 317.12

    Total savings 16409.77

    Another very good week I just hope I can keep myself motivated , not so good on the food budget though ,I really do need to do something about my overspend just not sure what .Looking forward to this weeks challenge now
    • try harder
    • By try harder 28th Jun 19, 4:11 PM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Week 4
    All bills paid ,food and diesel for both cars
    Savings 288.68

    Total savings 16698.45

    I am very pleased with the weeks savings .I sold several gifts that I had accumulated over time , my husband did his usual overtime and I also sold a bike that belonged to one of the children from way back .

    My food bill is still horrendous and I spent a lot more than usual on diesel as I have been going out to the beach a lot due to it being so lovely and sunny !! I must try harder this coming week to stay on budget
    • try harder
    • By try harder 5th Jul 19, 3:05 PM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Week 5
    All bills paid ,food and diesel for both cars
    Savings 349.55

    Total savings 17048

    Another very good week ,I am so pleased with the way i seem to be focused at the minute long may it continue
    • Busy Mee1
    • By Busy Mee1 6th Jul 19, 7:05 AM
    • 963 Posts
    • 4,994 Thanks
    Busy Mee1
    Woo hoo you have broken the 17k barrier. Always love getting into a new thousand
    • try harder
    • By try harder 13th Jul 19, 7:33 AM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Thank you Busy Mee1.

    Another good positive week for which I am truly grateful as always .

    Week 6
    All bills ,food and diesel for two cars paid
    Savings 592.33

    Total savings 17640.33
    I have decided from now to split the savings and pay 200 a week to my mortgage and what evers left into my Isa .This will be saved over the seven years and will also go towards my final payment , I feel that this will make me feel more comfortable knowing that I will have cash available for emergencies.
    So 17640.33 minus 200 into mortgage

    Savings 17440.33
    • try harder
    • By try harder 19th Jul 19, 9:19 AM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Week 7
    All bills ,food and diesel paid .
    Savings 515.94
    Plus savings 17440.33

    Total 17956.27
    Minus new sink 255
    Minus 200 paid off the mortgage

    Total savings 17501.27

    I am really happy with this new way of doing things and it is great seeing the savings go up and the mortgage going down .I am trying to do everything I can to improve my home and push the value up .
    • themadvix
    • By themadvix 19th Jul 19, 9:23 AM
    • 2,558 Posts
    • 14,147 Thanks
    themadvix
    It sounds like this method is really working for you TH!
    • try harder
    • By try harder 28th Jul 19, 1:32 PM
    • 867 Posts
    • 3,441 Thanks
    try harder
    Week 8 . All bills , food and diesel paid for . Food bills have been sky high yet again so next month I am going to meal plan for the month to see if that helps keep me in budget , I can but keep trying .
    Savings 372.66 minus new kitchen chairs ,well they were new to me but still cost 200 leaving savings this month of 17.66

    Total savings 17673.93

    No savings towards the mortgage this month .

    For the next 8 weeks I need to save for a new to me car so the savings and mortgage will have to take a back seat as I need to save 500 a week for 8 weeks any shortfall will have to come from savings ,I have no idea as usual where this money will come from other than my husband working more hours poor man , I am so lucky to have such a hard worker
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