As you know I'm been trying (with different levels of success), to get my mortgage elimination focus back. It's there, it's just not as 'gazelle like' as I'd prefer. If possible I'd like the old consumer debt focus to show up - I know it's in there somewhere! - because as much as I like to think of myself as debt free, until that mortgage is G.O.N.E. I'm really not!
And so with that in mind I've been plastering my computer area with motivational words, and generally playing around with a mortgage snowball spread sheet instead of sleeping (note to self: tiredness doesn't help focus!).
Without any changes to our main income, our mortgage payoff date is currently December 2017. Not as early as we would like, but still 14 years earlier than the bank would have it.
Here's part of the spread sheet showing the next 12 months (starting after July payment which is already in our budget)
Mortgage Snowball Spreadsheet:
Note: Our current monthly mortgage payment is £542.34
I've worked out the figures with an £800 overpayment starting in January (2014), but hopefully I'll be able to increase this one way or another.