Hello! Brand new MFW...with the full 25 years ahead !!

joisey

I told my oh last night how much we would save in interest if we over paid by £100 a month over our 35 year term :O
and he had a big massive hit the floor ltm!!!

so he is now on board too!!

just tell him and I bet it will do the trick!

Thriftyknickers

With some mortgages you can draw down on the overpayment too, very easily. With our Nationwide one we did this to pay for DH's car. If you're able to do this, you could see this as your long-term savings pot - assuming your mortgage is at a higher rate of interest than you could get than in a savings account. Good Luck!

jamtart6

Thanks all! The problem is, if he doesnt like an idea, he doesn't like it and thats that. Very frustrating!

Is it better to pay an extra £50 monthly or put that into savings and pay off a lump sum at the end of the year? think we can do it either way on our mortgage.

SmlSave

Is it better to pay an extra £50 monthly or put that into savings and pay off a lump sum at the end of the year? think we can do it either way on our mortgage.

Tough question

Ideally I'd personally like to pay £ to mortgage, £ into a DIY fund, £ into savings and £ into christmas/pressie fund :A lots of pots of gold.

Hope that makes sense

You mentioned that you don't go out much, me & OH have £20 a month just so we can go out, just to the cinema or pub (I admit we blow the budget a fair bit though )

jamtart6

SmlSave wrote: »

Tough question

Ideally I'd personally like to pay £ to mortgage, £ into a DIY fund, £ into savings and £ into christmas/pressie fund :A lots of pots of gold.

Hope that makes sense

You mentioned that you don't go out much, me & OH have £20 a month just so we can go out, just to the cinema or pub (I admit we blow the budget a fair bit though )

Well when I say we don't go out much, what I mean is we don't do what our friends do and blow £100 on a night out each Friday and Saturday night every weekend drinking, I don't spend hundreds of pounds on a coat or shoes like my friends do, (I'm a New Look kinda gal) so when we want to go out or trreat ourselves we never feel too guilty I'm nto sitting in a rocking chair haha!

Yes, well OH has just noticed that by putting £X away each week, he has managed to be able to go away for a couple of days, so I'm hoping he is going to come around to the idea of little pots of gold too! I love saving