Get yourself a 'Mortgage Pig'

halloweenqueen_2

Have updated my total!

lakes_saver25

Have just worked out by over paying on my £52,250 (25 year term mortgage) by only £30pm (which is nothing, wont even notice its gone!!!) I will wipe of 4.17 years

clarew

amazing, how a little amount, can make such a long term difference!:T Welcome and good luck with your mortgage quest!

halloweenqueen_2

Yes its great to think a few pounds a week can help, I don't think I'm going to have a record breaking month this time but everything helps, got lots going on over the next couple of months and I'm trying to do the money from nothing challenge to pay for a holiday, so many challenges so little cash!!!
Hoping to soon get my mortgage statement!

pigpen

I have my first £10!!!!!!!

I cleaned my hovel today (well the downstairs bit) and found almost £3 in change.. and I raided my husbands pockets and found some more and I emptied my pockets.. I even got 6p from my oldest boy and over £3 from my oldest girl.. see.. we are making a family effort to feed the pig.. which is alarmingly like a yellow sharps bin!!

kiwi88_2

Congrats on such a great family effort for one day :T

£10 daily is £3650 paid off yearly :rotfl: unless your interest is calculated daily and then that's ...well far too confusing but it's all good :rotfl:

Happy saving

pigpen

Heck.. I don't think I can manage that on a daily basis!! Maybe once a month.. I don't like tidying that much!! I have the playroom to do though and ALL the toyboxes and anyone with small people knows you always find money in the bottom of toyboxes!! lol

As far as I am aware our interest is added annually.. I might check that actually just to be certain.

I NEEED a bigger pig!!

Am I allowed to open a seperate bank account so I know every penny that goes in comes off my mortgage? I don't want a cheque book or anything just an online banking facility and the ability to deposit large amounts of money in 1p's and 2p's. I my have to go in and ask about it on the way up to school later.

kiwi88_2

pigpen wrote:

As far as I am aware our interest is added annually.. I might check that actually just to be certain.

I NEEED a bigger pig!!

As I understand it if your interest is calculated annually then an account with the highest interest you can get is a good idea but you will have to enquire with the morgage when the interest is calculated in the year and make sure you make the overpayment in time for it too clear before interest is added. You might be allowed to make more than one overpayment as well

It's not my best subject and like you I'm new to all this but there are really great people full of advice here so they will let you know any other options :T

ladykibby

morning all,

I got a mortgage pig for my Birthday last week (well its a coin sorter thing really!!) LOVE IT. Emptied my copper jar and got £55.58 - paid off mortgatge, then yesterday emptied my £2 coins and got another £40 to pay off mortgage. Thats nearly £100 !!!

ioio its off to work i go

Thanks for the tips, I reckon at this rate I will be mortgage free in no time !!!

pigpen

ladykibby wrote:

Thanks for the tips, I reckon at this rate I will be mortgage free in no time !!!

How long do we reckon it will take me to pay off mine?? We have 23 years and 9 months left to run!! lol How many months/years do we think I can knock off with my few extra £££'s a month?

My mother thinks it is a good idea so maybe I amdoing something wrong! She said I will only get a couple of pounds a month.. until I said I found £10 just raiding pockets and bags and cleaning between the cushions on the sofas! I'll get into the toy boxes one day and strip them bare of pennies!

I opened the other bank acocunt at the local bank I've had to promise to have the CTC and the child benefit paid into it and NO OVERDRAFT!!!!! lol but hey ho. (minimum £500 deposit each month)

I put 20p in my piggy this morning which I acquired in my purse last night in the pub.

Away to school we go!! Happy penny finding everyone!!