Pay off mortgage and start having fun!

ElectricSoup

hi there - can you tell me how you find out / work out the daily interest you're paying on a mortgage? thanks!

newgirly

Hi electric soup, I did ask my mortgage provider what interest I pay per day.
I took the amount I owe on the mortgage and times it by my interest rate (which was 3.43%) so mine was £160,936.11 x 3.43% = 5520.10, then divided by 365. = £15.12 per day. Hope that helps.

katsu

I'm in the security group "those that want the security of no debt and being financially better off," For me it is the "free" bit of MF I'm aiming for. I want DH and I to be able to work part time later on, to pursue voluntary work and our own interests.

newgirly

Hi everyone :j,

I managed to have a fairly cheap weekend, went to a nice BBQ round mums. But have been a bit naughty this week and spent rather a lot buying clothes . We are taking the kids for a weekend in a caravan this bank hol, and went to start packing then realised my DH does'nt seem to have any summer clothes, so got a couple of shirts in mr.a. then a few lovely bright shorts and tops fell into my basket for the kids!

I am doing much better on the food front, cooking from scratch. I have joined TPA's weight loss challenge this week as well, so am trying to cut out the crisps and biscuits. But am feeling a bit rough today though, think I'm getting a bit of a cold.





Lots to do before i go away, so jobs for today;

• MAKE FIRST OVERPAYMENT!!! YAY done

• feed friends cat done
• pack clothes etc.
• buy and pack food to take done
• clean out hamsters
• water garden done
• clean car inside/out decided to just clean inside!
• clean filthy house
• do banking online/intown done
• wash dogs bed done
• iron mount everest started
• buy/wrap pressie for kids party tomorrow done
• batch cook curry done
• all usual other jobs/school runs!
• doctors done
• thats all I can think of at the mo.

Don't think its going to be possible to fit all that in, but will give it a go!

Courgette

Just caught up, Newgirly. You're off to a brilliant start! :beer: Once you get into the swing of things OPing and being frugal will become second nature and there really is no better feeling than watching the balance come down on on your mortgage (Actually, there might be the odd better feeling, but it's a bit early in the day for those kinds of jokes :eek::rotfl::o).

Good luck, I'll be lurking... :eek::D

newgirly

Thanks courgette,am really enjoying the challenge! Hope you are feeling better and taking it easy

greent

:T:TYeay - well done.

Enjoy your break!

newgirly

Morning everyone,
I have made my first overpayment now, but as I have just changed rate they left my 1st months payment at 961 instead of the 1372 it now is , so I could only over pay by 20% of that instead.
I have put the left over money I still have in my new isa. My boys have decided they would like a party, somewhere this year ( not in the garden!) so I am also saving for that now.

We are away today after school until monday, have got my clubcard theme park vouchers:A, and am taking dinner for tonight and lots of snacks, but will eat out a few times as we have been given some money to take to treat us and the kids:j, by a very kind friend who OH has been helping out.

Anyway, I hope everyone has a great bank hol. x

setmefree2

Well Done on that OP :T:T:T

Optimisticpair

SmlSave wrote: »

Have a lovely weekend newgirly I've already been naughty and bought wine (3 for £10)

daily interest is crazy isn't it?!? - we will get it down!

We are usually naughty but I know from past experience that it is depressingly wearing to be watching every penny long term and not be able to have any treats.

To stay motivated we treat this a big game and together savour every time we get what we really have to buy at the best price as a victory. Consumers 1 sellers 0.

I'm lucky my other half has joined in the game. It is so easy to be extremely busy and get into thinking that the payoff due for working hard is having money to spend on things that catch your eye while not seeing the monthly mortgage payment isn't all buying the house but consists of thousands of hard worked for pounds leaving your account in interest payments.

When I think of the hard earned pounds we could find a better use for than interest payments sheesh! But we will get there bit by bit.