£161,044.25 reasons to be mortgage free

wantabetterlife

OMG Michelle £1.88 per day!....u are so lucky.....think your right about the snowballing thing...at the minute so much of our monthly payment is swallowed up in interest, at least this goes down every month.
We wont have a lot of spare money when i go back to work due to childcare so i have to concentrate on the small things as at least i feel i am doing something. It must be rubbing off on OH....the other day he was making his lunch and used an empty bread loaf bag (iykwim) to wrap his sandwiches....i asked him what he was doing and he said he didnt want to waste the tinfoil :rotfl::rotfl:

When we were growing up my mum was always careful with the pennies and really thrifty so i find it easier to be like this.
OH's parents on the otherhand are really extravagant and leave tvs on in all the rooms when there is no one in them and even when they leave the house, eat out all the time and spend loads of money on absolute rubbish.
I think because of this OH finds it a bit harder and will always be a spender at heart, although he has definately changed his attitude to money a lot in the past couple of years.....due to my gentle persuasion

LGP some mortgage companies dont let you overpay and most cap the o/p to 10% per year, it just depends on your mortgage company.
Twisted hazel you could try reducing the term of your mortgage which would increase your monthly payments and is effectively the same thing. Obviously you need to make sure you can afford the new amount every month though. Some companys like the halifax will let you revert back to the original term if circumstances change later on.

wantabetterlife

Got an email from quidco....cashback of £5.80 has been paid into my bank :j
Gathered up all the loose change in the house and brought it to the coinstar in tescos and got over £13.00 back. Have rounded up the £18.80 of extras today to £20 and paid it off the mortgage.

This whole journey is painfully slow at times..............

*Kat*

wantabetterlife wrote: »

Got an email from quidco....cashback of £5.80 has been paid into my bank :j
Gathered up all the loose change in the house and brought it to the coinstar in tescos and got over £13.00 back. Have rounded up the £18.80 of extras today to £20 and paid it off the mortgage.

This whole journey is painfully slow at times..............

aww, don't use those coinstar things, the commission they take is so bad

wantabetterlife

*Kat* wrote: »

aww, don't use those coinstar things, the commission they take is so bad

yeah they take almost 9p in the pound....i didnt have enough to bag it all into seperate bags and bring it to the bank...and i really wanted to make an overpayment today so just went ahead

cha97michelle

I knew they were bad, but 9% is extortionate. :eek:

I think the frugalness becomes so ingrained that i am likely to be doing it long after the mortgage. DH comes from a family that have been really frugal, but then again like nice things too. I guess we both know how to scrimp but like treats.

Iris was a bit down earlier too about progress. Must be the time of year again. Do keep at it. You seem to have something done every day, which is brill. Especially with 3 little ones around. I find it hard with 2.

wantabetterlife

Thanks michelle...doing the small things is really keeping me motivated at the minute.
Have just spent the morning washing and ironing clothes for ebay as its free listing weekend.
Am stuck on the sofa now as DD2 is sick and wont get off my lap.......she is currently sleeping and drooling all over me...the joys of motherhood :rotfl::rotfl:

Halifax have paid £10 in rewards for the 2 accounts so this has went off the mortgage....thats £75 this month already :j

wantabetterlife

saturday night again..........

doesnt look like any of the 14 items i listed on ebay are going to sell....only have a total of 9 watchers on all the items and not 1 bid :mad:. If they dont sell i might try grouping the clothes into small bundles and see if that works better than selling them all individually.
Over the past week i have used the £30 worth of tesco vouchers i had and converted them into £60 in the double up promotion to use on nappies and also used £10 worth to buy a present for a party DD1 has tomorrow. The £60 this would have cost me has just been paid off the mortgage :j
I have been thinking of a way to motivate myself when i go back to work....i would love to be able to make an overpayment every single day that is the equivalent to the daily interest....just less than £18 at the minute. This would be a stretch but i think it would keep me motivated and focused to stay at work full time. This way the £1069 payment that comes out every month would all be coming off the capital.
Hope everyone is haing a good weekend...........i am catching up on all the diaries here and oh is glued to the golf on TV

originalmiscellany

I have to admire you WABL - 18 a day would be a great way to micro manage your mortgage, although it could become totally life dominating!

But the strides you're taking to clear your debts is just the tonic. When I sat down with MOM and explained how our interest rates have gone from x 3 years ago to y as of last year, she too was super keen to help chip in with clearing the mortgage, although we're at a chamichelle level and not yours in terms of monthly payment.

Hope your children get better soon.

wantabetterlife

Hi OM, it would be great if i could do it...but to be honest i dont need to become any more obsessed about mortgage freeness than i already am, and that challenge could tip me over the edge :rotfl:

Michelle i was just re reading over previous posts and missed the bit where you asked me about my eyes...they are well settled thanks, still a bit dry in the morning but nothing major..i go back on the 3rd may for another check up but i do think the left eye has improved and overall am really pleased.

Iris_Blue

Hi WABL.

I like the idea of paying off the interest each day and I'd like to do it also when we move home, hopefully soon. Ours will work out about £19.85 and with my mat leave finishing soon its near impossible. Do you think it would be achievable for you?

Michelle's right I have been down about money, which is daft really as we have a roof over our heads and we are very lucky in life and love. I always want that bit more though. I beat myself up over past financial decisions I'd made, like taking the money out of the house not once..not twice but three time. Reading your first post brought all that back to me.

I had my eye done with optimax 2.5 years ago. I only had the one done as the other one was more complicated to do. I didn't tell you at the time you was thinking of having it but my eye after surgery was the most unbearable pain I have ever experienced, worse than child birth. I'm no wuss either. Apparently I had a severe reaction to the surgery..but I still say it was worth it as when I use to watch the television people had 2 sets of eyebrows after I had it done I saw more wrinkles on peoples faces (including my own ) and bricks on houses stood out more. It's weird isn't it..what you can suddenly see.

Wow long post for me..good morning btw!


P.S What is MOM ?