Taking the plunge as a MFW...

moominyak

daisy_1571 wrote: »

We found, and the others at the puppy class, that dry food made them itchy, hyper, aggresive, nervous so we gave up with that

IKWYM, there's a lot of rubbish in the cheaper dry foods but the Burns stuff is much better quality than what's stocked in Tesco (as it should be at that price!) - I used to get it straight from the rescue place but tbh having to have remember to draw out physical cash to pay for it isn't very convenient, hence the mail order

How is the Sept total coming along or have you closed off your books and are onto Oct ?

Yup, I'm into October now, hopefully going to get a couple of hundred OP'd this month - I've moved it so it's out of my current a/c at least, but haven't got to the point of no return yet... just had to get my (old) car through its MOT so I might need to dip into the OP later on in the month! Hopefully not, but I don't want to leave myself short too early!

Hetty1984

Just wondering when I am making savings before overpayment (6-9 months salaries worth) should this be just for 1 of us or 6-9 months for both of us??

Thanks

moominyak

I think that should be for both of you as I guess you'll be used to having 2 salaries coming in... there's only myself and my dog, unfortunately he doesn't bring in a wage

Didn't realise how long it had been since I was last here, been a bit busy with work and archery lately.

EssexHebridean - you'll be pleased to hear I've fletched 9 of my 12 new arrows (I'm leaving the other 3 bare for tuning purposes - that's my excuse anyway! :rolleyes: ). Unfortunately I've now discovered that the guidebook lied to me and I need stiffer arrows... shooting a 3D next weekend so I'll probably lose a few there...and then I can buy some more

Have made an OP of £100 so far in October...I've seen mention on this site that Hfx has at long last started sending FPs... although there's been no sign of it with any payments I want to make, typical!

Anyway, will hopefully get a bit more paid off before the end of the month.

Hope everything going well for all you other MFWs out there

setmefree2

moominyak wrote: »

Have made an OP of £100 so far in October.

Well Done You:T:T:T

moominyak

...by the princely sum of £4.30! :rotfl:

So if I keep the term at 33 years (which hopefully isn't going to happen)... I'll save £4.30 x 12 x 33 = £1702.80

My total OPs to date are £1740 - although that's money I'd have had to pay anyway (I think?) as it's capital.

I'm confused

Can somebody please remind me again why I'm doing this?! I appear to have lost the plot somewhat :rolleyes:

evab_2

As you over pay more, that saving is going to increase it's a long process but it will be well worth it when you reduce the term of your mortgage.

moominyak

Thanks Ev :T

It's like... I know that OPing is the sensible thing to do... but sometimes I forget why!

Especially when they only reduce my monthly payment by pennies when the BoE base rate (and therefore their own SVR) changes. It just didn't seem like much of a reduction for all the hard-earned cash I've thrown at it!

As you say, I guess I'll really see the good I've done when my fixed rate is up and I can hopefully reduce the term but pay roughly the same minimum amount each month (all other things being equal)

StuartGMC

Sometimes it can be hard to see the specific changes here and now. You may want to look at the amount of compound interest that sum has saved over the remaining life of the mortgage. Remember in the early stages of a repayment most of the monthly payments are consumed by the interest.

Hang on in there, it IS worthwhile!

setmefree2

StuartGMC wrote: »

Hang on in there, it IS worthwhile!

Ditto from me:T:T

moominyak

Thanks people

Hey, I've finally at long last managed to send my very first Faster Payment :j

Smile bank still isn't playing the FP game, so I've opened yet another a/c with A&L...got the account no. through today so tried to send an FP from my Hfx websaver, no joy.

But from the Hfx current a/c it worked! Got an email to confirm it would show at A&L within 2 hours

Trouble is, I don't have online access to the A&L a/c yet, so I can't actually see it

But hopefully I'll get that sorted within the week... and then I'll be pinging FPs about all over the place! :rotfl: