Djk diaries

jemz0001

Hi,

Myself and my partner have decided to start a diary, this will help us to keep on track and aim towards our goal of being mortgage free.

We have been together for almost 4 and a half years and have been living together for 4 years.

We bought a house in 2007 for 122,000 pounds, we paid a deposit of approx 10,000. We have paid interest only since we bought the house but are now looking at overpayments.

We also have a loan for one of the cars for 5399 at the mo, which we would also like to pay off.

From now on we will try and update daily our spends and how we are getting on towards our goal.

jemz0001

Todays spends;

£1 on tea at uni (i was going to come home to get tea but when worked out it was an14 mile round trip and the cost of tea bag, milk and sugar it was cheaper to stay in uni)
£2.30 on parking (we believed we would be validated, but it was not)
£6.00 cinema ticket (treat for us, crazy tuesday, we also took home made snacks)

Sealed jar £200 saved towards overpayment/new windows, we havent decided what its for yet.

We also are wondering, we have savings that would cover our loan, should we repay it or keep the savings just be on the safe side??

gallygirl

jemz0001 wrote: »

Todays spends;

£1 on tea at uni (i was going to come home to get tea but when worked out it was an14 mile round trip and the cost of tea bag, milk and sugar it was cheaper to stay in uni)
£2.30 on parking (we believed we would be validated, but it was not)
£6.00 cinema ticket (treat for us, crazy tuesday, we also took home made snacks)

Sealed jar £200 saved towards overpayment/new windows, we havent decided what its for yet.

We also are wondering, we have savings that would cover our loan, should we repay it or keep the savings just be on the safe side??

Well, it's reckoned you should have 3 months in savings (or a handy well off relative :rotfl:), so I would cover that first. Is there a penalty if you repay early?

Good luck with your quest :j

jemz0001

Hi,

Checked with the bank and there is no penalty.

We would still have at least 3 months wages as a back up if we did pay off the loan...it just seems like a big step and a significant amount of money to us!

Bufger

jemz0001 wrote: »

Hi,

Checked with the bank and there is no penalty.

We would still have at least 3 months wages as a back up if we did pay off the loan...it just seems like a big step and a significant amount of money to us!

Well if you have a considerable amount saved away it must be for something. If after using this savings you still have 3-6months rainy day money then you should be ok to use it.

Whether to use it or not then depends on what its purpose was in the first place. Will it put you a year behind in wedding plans? will it mean no holiday again for 2 more years? Its a life balance, you decide!

jemz0001

I dunno we just had savings to save them!

Yea prob put weddings plans back a bit...but we dont want a big do so should be grand!

jemz0001

Todays spending:

Well today was my fornightly adventure with my granny!

So we went to a local seaside town - portstewart, where there is a factory regatta shop

I got a regatta windstopper fleece and a dare to be jumper for £9

I then bought my granny lunch - £8

We then went to asda and i got 3 presents for upcoming event

Wrap for my mum for mothers day (£6)
and a birthday present for my SIL (£13)

and some groceries £10.09

Iceland 2x bags of chicken (will last at least 2 weeks)
1x large shampoo
1x salt grinder

Total spend 10.00

Total spend today £56.09

Total spend month to date £65.39

On the plus side granny gave me £16.00 she owed me for buying her some trousers and £11 so thats £27

jemz0001

Should have put the budget up that we worked out
£
Groceries (inc toiletries and dog food) 100/20.09
Gas 40
Fun 40/6.00
Petrol 100
Other 20/3.30
Presents
Wedding 10
dad's birthday 40
aunt bday 10
mothers day X3 (both mothers and grandmother) 30/6 of 10
Anniversary 10
New baby on way 10
SIL B'day 15/13

This is if we dont already have anything in the present drawer

jemz0001

Challenges for March
Geocache per week
go back to gym
no ding dings
Sort banking
1 carboot
sort back room
consider loan pay off
meal plan

gallygirl

As there is no penalty for repaying the loan and you have plenty savings I would pay it off - it will feel great! h

jemz0001

Thanks for the advice gallygirl...big step just trying to talk OH into it!

Was hoping today was going to be a NSD but parents have decided to come for dinner and need to go and get meat for them (we only use chicken)

Must b good in shop and only get what i need!!!!