Pay off mortgage and start having fun!

newgirly

Glad they are doing well greent It's a lot of debt but well worth it if you are working towards something you enjoy. Did they always lean towards what they are/will be doing?


Did anyone see Martin Lewis on question time this week talking about student debt? Its surprising how many people don't know how it works- I spoke to parents waiting for appointments for college parents evening just a few weeks ago that did not know either how much uni fees were, that you only paid back over a certain earning threshold and my personal favourite comment was a guy (parent of a child who we have known years, quite intelligent, good job) who said his son will probably only pay for the first year or so and then fees will be abolished when Corbin is prime minster and immediately removes all costs, so he's not too worried..........

newgirly

newgirly wrote: »

newgirly wrote: »

newgirly wrote: »

APRIL update!

Start figures 2018:

Mortgage £47,049
Loan. £14,941

Total at 1st Jan 2018: £61,990


Total today :

Mortgage. £38,275
Loan £12,623



Total today: £50,898



Total reduction so far this year: £11,092

Total April reduction :£1,466

shangaijimmy

Great figures! Well done.

newgirly

Update finally done for April :T I decided to not hold back the kids birthday money this time and just op it and take I think out of julys money.

I have exactly £400.42 left until June 3rd to live on (plus £300 put by to fix and decorate the log cabin sink hole ) so an early overspend as usual :rotfl:

Time for some good old fashioned mse back to basics I think I feel a bit more back in the swing of things since oping the offset into the mortgage account.

Plans for the rest of May:

Resist eating out so much - have a friends leaving do as she's moving to Devon, other than that nothing planned.

Cut out drinking sooooo much - this has built up lately, even though I'm on WW I'm managing to save a lot of points for booze

Try and save a surplus from the £400, need a tank of petrol still unfortunately.

Use the Cineworld passes at weeekends with dh as nights out rather then going for meals.

Hi jimmy thanks for popping by!

newgirly

Of course forgot I had a mortgage interview booked during work today, oops! Managed to whip through it without her needing my bra size this time :rotfl:

Apparently now you HAVE to have advice offered when remortgaging, this is a new thing as far as I know. She did advise the exact same thing I was going for anyway :

2 year fix 2.19% offset, maximum ops allowed up to 99% of starting balance when remortgaging, £0 fees.

Seems the best plan really, a few hundred cheaper than going on their SVR and about £90 dearer than switching provider but no hassle involved.

Spending today:

£55 ish petrol

£68 ish food

Spending yesterday:

£72 (before 12%tcb) for an Thames afternoon tea cruise for dds birthday - usual price £36pp so pleased with that after money off, voucher codes etc.

The tea should come from the birthday budget but I've taken it out of the £400 for now.

shangaijimmy

How new is that advice idea? We remortgaged last Jan 2017 and didn't need to do it. Though we did remortgage with the same provider.

newgirly

Hi jimmy, no idea but we have been with Chelsea since 2007 and usually can just change deal, maybe it's because we are interest only perhaps combined with tighter rules?

CathT

When we had additional borrowing for our extension fd (existing provider) really grilled us. Glad you have managed to secure a deal though.

What is the current plan for the mortgage and end date?

newgirly

Hi Cath, the end date I'm hoping for is next June (2019) as the boys will still be 18 just about and that was always a target

Absolute worst case scenario would be June 2020 i.e. the end of the two year fix, I really don't want that to happen though!

Weigh in better than expected after a terrible week last week -1.5lb on Must do more exercise next week as this week I didn't feel too great and had a rest.


Quite an mse day today, had best friend for round for a diet friendly lunch and will probably have swim later, house is spotless except for the top floor, just washing and ironing to do. Dh is at a gig tomorrow night and will hopefully be starting to repair the log cabin Sunday so it should be a really cheap weekend :T

AlexLK

Brilliant figures despite all the spending, NG!

newgirly wrote: »

Hi Alex, glad you are well

It doesn't surprise me that you feel it's essential to get a degree, I guess if you know what you want to do then it may be somewhat easier to commit to further years and expense studying it. Personally I don't feel it's a worthwhile commitment to do just to have the experience of more independence away from home. Plus there's the fact that I don't get to decide and they both don't want to go.

The boys are between them doing combinations of ICT/business studies/film. Ds2 didn't particularly enjoy those subjects and did change one subject, ds2 loved film.

Dd loves uni and always wanted to go, being in central London meant not living away (way beyond what we could afford!) but she's met some very interesting people from all over the world, in fact she would probably disagree with my comment that it's not worth doing just for the experience!

I think it's still possible to build a career without one, currently there has been a renewed interest in apprenticeships being promoted which I think are a great alternative and also from the other side useful to businesses too. Dh himself started at 15 straight from school as an apprentice and now owns the company (and lunched with the queen after winning business person of the year ) couldn't resist putting that in :rotfl: I've seen my own family build their own businesses without even higher education, but times do change and more people have them than years ago, in some jobs you will not get an interview without that as a minimum, I realise that.

It's their choice in the end, it will be a case of fingers crossed it all works out :eek: It amazes me when I had three tiny exhausting children that I stupidly thought that by the time they were adults all my stresses about them would be gone, what was I thinking

I'm good, thank you.

Perhaps your sons' ought take a gap year? Gives them time to get some experience and decide if they wish to go to uni or not.