Get yourself a 'Mortgage Pig'

Money_saving_Diva_2

My OH did a bootsale on sunday and after taking out costs and petrol, we made £35.. £10 we used towards groceries for this week and £25 went into Percival towards our car fund!! And I agree with Milly, Coldstream, every little helps, so don't be downhearted! :T

Sunny_Donny

Hi
I have a mortgage sheep that is fed £2 coins. I sent a letter to the building society when my letter came through telling me how much I had to pay per month and upped it first by £5 and then by £10 per month. The mortgage pig will be opened in November and a cheque sent for whatever is in there to boost the overpayment. No charges for overpayments from Building society so happy with that. Proof is below in signature that I am slowly chipping away at it. When I get my payrise ((ha ha )) I'll try and up it for another £2.50 or £5 per month if I can.
Also have a large whisky bottle that gets 1p,2p and 5p coins, )also pick up coins in street and put them in there. This goes toward overpayment for loan to reduce the term.

EssexHebridean

The thing of picking up coins in the street can be amazingly lucrative. My OH puts everything he picks up into a pig and counts it up once a year - he had over £6 in there last year - purely from coins he'd found lying in the street!

Our change goes first into a dish in the bedroom, then into one of two creatures - a large pink china pig with a big grin on its face for 50, 20, 10, 2 & 1p pieces, and a sheep for 5p pieces. When the pig is full, it gets emptied into a large glass jar, and the contents are counted once a year, a month before we go on holiday. Last year we had somewhere around £100 in there and it sorted out a good chunk of our holiday spending money. We also chuck £2 per week most weeks into another pig which will be our spending money for the Good Food show - it's just before christmas and finding the cash for spending the past few years has been tight hence the pig idea.

bunty109

Thought I'd bump this thread a bit and tell you how I am getting on: I've been collecting 5ps and found it amazing how quick £5 tots up. Monty is filled with anything over 10p and I've already another £60 in him from putting in money I save on parking and my odd bits of silver!

This week our mortgage dips under a significant figure: it's still huge, but we're getting there!!

Batgirl

coldstreamalways wrote: »

My mortgage seems insurmountable, my monthly payments are £1100 and it's a 35 yr job (current balance £210,056)! I have a pig, a full ISA and a savings account. I have to pay £10 to make an overpayment so I'm aiming to raise £6000 by Dec this year and pay that off then. It will still be a gnat's p!ss in an ocean though *sigh* so depressing.

We often feelt hat way too, we have a £200k mortgage and live on a street full of very similar houses where everyone else brought their house 8 yrs before us and have £30-£60k mortgages which hurts a little more . Our friends nearly wet themselves when we said we were over paying by £25-£50 a month because they said its a drop in the ocean which is rue but on the overpayment caluculator it knocked more than a year off our term so well worth it. The mortgage overpayments have currently stopped as we are paying for a new kitchen so you have time to get yours down to £200k and then I'll race you to the finish :j:j:j.

barnaby-bear

coldstreamalways wrote: »

My mortgage seems insurmountable, my monthly payments are £1100 and it's a 35 yr job (current balance £210,056)! I have a pig, a full ISA and a savings account. I have to pay £10 to make an overpayment so I'm aiming to raise £6000 by Dec this year and pay that off then. It will still be a gnat's p!ss in an ocean though *sigh* so depressing.

I thought this... but we recently remortgaged - the overpayments made a huge difference by taking us *just* into a different LTV zone and making it far easier to remortgage at a tricky time, and so a lower rate than otherwise for the next few years meaning more for overpayments, and the slightly lower balance took the edge off the rate rise (came off 2 year fixed)... my work colleagues moan their mortgages have gone up to oooooh £600 !!! a month - I think down the line inflation takes the edge off things... :rotfl:

clarew

My mortgage pig is a sealed tin where the £2 coins get deposited! Its feeling about half full now yippee! It says it holds £500 but last time we had more than that in there, so i reckon we must be nearing £250 at present. Must say i do get annoyed when shops keep giving me £2 coins tho...last week i ended up putting £10 in!! Funny how you get used to never,never spending a £2 coin tho!!

My old glass roses sweet tin is filing up nicely with 1p,2p and 5p with the odd 10p thrown in when im feeling generous too! About 1/3rd of the tin is now full.
Can't wait till i can open both tins!!!!!!!!

kezza12

ok so i just totted up my various pots as the OH and i are going away for 2 weeks next week and I'm quite impressed, there's £70 in pound coins in mrs lady our mortgage pig so i won't have to take an overpayment break this time, there's £170 in 2 pound coins in mickey mouse for our holiday spending money and there's £55 in silver in little mickey mouse for food as we're going self catering to center parcs so I'm confident that this time we won't have to penny pinch and will have a nice time:D mebe this time I'll try not to ask "how much is it" every time the oh picks something up.:rolleyes: only some of the time, after all money spending is not money saving:j

daisy_1571

Hi everyone

Been lurking on MSE for over a year now but too shy to join in.

Been slowly working my way through this thread every lunch and break time however it has inspired me to get an actual pig instead of the "bottle" which is too easy to dip in to and the wooden £1 coin holder which is even easier.

We started overpaying in June once we had got other finances organised and happy to say so far have overpaid almost £1000. Some funded through ebay - its great when money starts coming in the way instead of out the way !!- focused organising of monthly money meaning standing order can be set up for £20 per month - baby steps at the start but hoping to increase it. Have made a table for the wall showing that if we stay on course overpaying to the £15,000 advance (that we got and frittered away on dear knows what I may add, where were you Martin when I needed you ???) instead of £11,515.94 owing at the end of fixed rate term we will owe £339.59 !!!!!!!!

That figure was worked out so we do not get any fees for overpaying however it may be that we have to reduce our monthly payments at some point and divert it all to the Big One (over £100K) to save the finishing too early and getting fees as I work out they would be dearer than the interest IYSWIM.

Anyway, could not wait to tell you the good news so hae jumped ahgead about 20 pages - not named him/her yet as I will have to wait to see what name is suggested by him/her.

Dithering Dad if you are still on here I am not sure if there is a height limit to this thread but I am def under it and finally does anyone know what happened to Aliasojo ? I keep hoping to get an update from her but am up to April last year and nothing so far.

edited - have now got right up to date so got Aliasojos messages - so sorry to hear that you are back on the mortgage treadmill but at least you have great company pounding along with you. What a fab bunch of peole all helping themselves by using your great idea. Feel proud and happy !

daisy_1571

Hi again

Mortgage pig arrived today. Meet Elvis Piggy, just Taking Care of Business !!

grrrr, you could meet Elvis if i could work out how to paste the flipping photo in here !!! I will return !