£161,044.25 reasons to be mortgage free

wantabetterlife

Hi Iris, thanks for posting, you sound so like me!

Our house is also lovely and is big enough for the five of us ( Just about), but i cant help thinking it would be lovely to build a house in the country with a big garden and lots of privacy.
The bit that annoys me the most is we could have done it long ago if we hadnt been so stupid..........i cannot believe we remortgaged twice for a total of £57,000, and the only thing we have to show for it is a second hand car that isnt worth half of what we paid for it :mad:.
It is so hard to claw our way back to where we were........cant remember whose signature it is that says its like "eating an elephant one bite at a time".......it literally is!

With the eyes, i still cant get used to not taking my contacts out at night before i go to bed. Am looking forward to next review to see if they have improved to 20/20 or not. Goodluck with the house move iris...it is definately really stressfull, so i can sympathise with you.

Had a fairly expensive weekend as we went for dinner yesterday and OH was away with golf society so the entertainment budget for the month is completely gone!

On the plus side received an email from quidco that the £35.00 i was waiting on has been paid into my account so this has been paid off the mortgage.
I dont really know if paying off the daily interest every day would be feesible or not iris as this is the equivalent of £547 a month at the minute. The only thing is that this would reduce by a couple of pounds every month. I am definately going to give it my best shot starting the beginning of october as i wont get my first full wage until the end of september.

I think i will know better when i go back to work and do up a proper budget. My SIL looks after our kids when we work and we havent had the "money conversation" yet....i hate these conversations as its really akward...might just let OH do it

cha97michelle

That does sound a hard target paying off the interest each month, but i understand why you set it. It probably would be hard if you took it as a month by month thing, but if you did it over a few months then it might be more achievable as i am sure something will turn up as they often do.

Anything you do manage is better than doing nothing so you would already be ahead.

Iris_Blue

If you think of it as daily though and not a monthly figure its like saying you managed to pay say 17/28 days interest, missing a few here and there but you've paid quite a lot there already in that 17 days.

I'd be up for doing it with you if you wanted a "buddy" to spur you on as things may be more settled for me by then too. I KNOW I couldn't pay off every day of the month but I could try my best, even if it was just a 2 month challenge running up to Christmas.

pavlovs_dog

thanks for the advice on working out the daily interest. Mine comes out at £15/day.

Would love to try and earn that in a day, but I just simply don't have the time to invest on top of my normal day job Certainaly puts other frivolous spends into perspective though

wantabetterlife

Sounds good Iris......we can keep eachother motivated . I was thinking the same myself...like the idea of keeping track of it in my signature for the month........ideally at the end of the month it would be 28/28, but more realistically it would probably be somewhere between 10-15....and as michelle says anything is better than nothing

Hi Pavlovs dog, yeah the daily interest certainly makes you think twice before spending money on rubbish....i feel like we are effectively renting our house from the bank at the minute :mad:

wantabetterlife

Another mortgage payment has cleared and £686 has come of the capital taking us to £141211....cant wait to get below 140k!!!

First overpayment of the month has been made...£20 made from quidco and halifax rewards :j.
Am going to try and get myself organised to do a bit of ebaying this weekend, had intended to do it last weekend but with the good weather we ended up staying out in the garden and making the most of the BBQ.
Flights for holiday to england have been booked, now just need to get the spending money gathered up. I think any ebay money i make will have to go towards the spending money as i am now on SMP :eek:

Charlie_H

Hiya WBL,

Been reading your thread over past couple of years now as you have similar mortgage and targets to myself. I agree that it can be hard to stay motivated during these early years and really admire the way you keep at it. Its so important to keep motivated to hit those milestones and your posts have helped me feel it is doable and that I'm not the only one that has a substantial mortgage. I look forward to your future posts and hearing you accomplish your targets.
Good luck and keep up the hard work:T
Charlie

Froggy-G

Hi WABL!

I have just jumped out of the 140's into the 130's and it feels great!

I do hope to welcome you in the 130's club very soon!!

Froggy :cool:

Iris_Blue

Well done on the OP

Have you let the tax credit peps know about your SMP? You may get something there.

wantabetterlife

Hi CharlieH, you are definately right it is really hard to keep motivated at the start because the overpayments seem so insignificant...but i have to see i think i am starting to see a bit of a snowball effect happening and the balance does seem to be coming down a lot quicker now, it feels like no time since we went below 150k

Oh Froggy G i cant wait to be in the 130 club , hopefully in another 2-3 months

Iris i havent bothered contacting tax credits because i am back to work in august and our total income for this year will still be over 41k so i dont think there is much point...would hate for them to give me money and then have to pay it back :mad:

I really have to reign in the grocery spends for the next couple of months...have just made a lovely big dish of salmon and broccoli bake. The salmon was whoopsied and cost 62p for the two salmon fillets. The broccoli was just about to go off, i made the white sauce from scratch and made the breadcrumbs from the two heels at the bottom of the loaf. I reckon the whole thing wouldnt even have cost £1.50 to make...really happy with this as it will feed 2 adults and 2 kids :j
Have just got an email from ebay to say its free listing this weekend..really need to get my act together on this one!

Have a good weekend everyone