£161,044.25 reasons to be mortgage free

HelenDaveKids

Well done. Its so exciting waiting to drop a level!

wantabetterlife

Thanks HDK...hopegully by the end of march we will be in the 129's :T:T. I was clearing out some drawers in the house and found loads of change...mostly DHs but i am sure he wont mind :rotfl:. In total there was about £20 so i added this to the £5 cashback from quidco and have overpayed the £25. This brings us down to £131181 :j:j.
My little run around car is definately going as the mechanic reckons in another 6-8 months i will need to replace the gearbox so we have decided to sell it...have been looking up what they are selling for and think i could get around £1300. I am not entirely sure whether to overpay this or to add it to the savings pot. I reckon we only have about £2.5k in savings which isnt a lot. It worries me a bit even though our jobs seem to be secure, but who knows what could happen these days with the economy the way it is :eek:.
The problem is that both me and oh get itchy feet when the savings reach a certain level and start to think about ways to spend it. At least when its paid off the mortgage its gone and so is the temptation.

pammyj74

I know what you mean about putting it in savings and it staring back at you! Thats why I mostly pay on the mortgage and little bits into savings.
Howabout doing half and half or 60/40 so you are feeding both and you wont feel guilty lol

wantabetterlife

yep pammy i think that might be the best idea...to try and split it between the two. I havent made any o/p s for march yet as we have so many bills to pay this month. Am going to wait a week or so and see what we have left when most of the bills have been paid.
Another mortgage payment has came out and the balance is now £130791 so £390 has come off the capital this month. Considering the total payment is £805 we are still paying a massive amount of interest to the bank every month :mad::mad:. I need to update my MFiT total and reckon i am about £700 off target which is really annoying but hopefully we will make up the difference later in the year.

wantabetterlife

Time for an update I think. We sold our second car and got £1000 for it so today I have paid this off the mortgage :j:j. The normal payment went out yesterday but the balance hasn't updated online. Tomorrow I will know an accurate balance and will update my signature then but we are now in the 129's :beer:!!!! I am really happy about this but of course am itching to get down to the next 10k.
The student loan payments have finally stopped coming out of my wages and when I get my p60 I can claim back the money I have overpaid on it, which I reckon is about £600. The plan is to pay this off the mortgage as well.
Because I sold the car I cancelled my insurance policy and am due a refund of £160 so there should be a few overpayments coming up!
I also worked out the daily interest and it is now £16.25 per day...which is still ridiculous :mad::mad:.
I really need to focus on the small things again as I have let this slip a lot recently and am not watching the spending nearly as much.

Oh and I almost forgot baby number four was born last week so our family is now complete :D

QB_Wolf

Congratulations on your new arrival.

gallygirl

Aw, congratulations .

Froggy-G

Congrats WABL! :j:j:j:j:j:j:j:j

Peonie

wantabetterlife wrote: »

Oh and I almost forgot baby number four was born last week so our family is now complete :D

Congratulations, I can't believe you left that one til the end. Is it a blue or a pink baby?

gallygirl

Peonie wrote: »

Is it a blue or a pink baby?

I wondered what flavour as well :rotfl:.