Pay off mortgage and start having fun!

newgirly

Thanks Cath 🙂

What a tiring week, so glad all the stressful stuff is over with now! Dh has got another do at home job for the same customer again so I’ve done two days on that at home this week and have another one left to do, then hopefully another batch is due in a couple of weeks. He needs to sort out the log cabin and get a bit of equipment and hen we can more easily do my business idea too. I think that’s probably better than trying to do it at the factory at weekends, could take a while though! 

It seems a good time for an end of year challenge, I used to love doing a last three months of the year boost but have not bothered on recent years. I did set a target the other day (might have to scroll back as I can’t remember what it was 😬) but actually we may be able to achieve a bit more possibly. 

My dad has made an offer to us to help pay the factory mortgage off a bit quicker in light of our new tax bill too. He had offered a while ago to help which we turned down, but now I think we may accept. I think it will be a long term loan we pay interest on but don’t have to pay back. I think it would probably be for around £25K, he did offer more but we don’t need it I don’t think. We are currently just under £50K now. It would ease the pressure of dh losing his job massively, I didn’t really want to accept but this week has made me re think and sometimes life is tricky enough! This way I can become a proper mfw again and go for it paying for this everlasting mortgage we still have 😆

Back later with the end of year challenge 🙂

themadvix

That sounds like a very generous offer NG and very tempting - it would definitely make life a lot less stressful!

South_coast

I think I would almost be tempted to ask for as much is on offer, then snowball the rent to the house mortgage, then paying your Dad back. 

Looking forward to details of the year-end challenge 😀

newgirly

I don’t think I can do that sc, we also won’t have to pay it back apparently, he’s planning for the future tax wise 🙄

Due to the way things are falling with the business account , I believe I won’t need to give dh as much as I had thought, I have a surplus in the current account that I’m going to set aside as well as a bit extra In the offset. The surplus in the current account is £1725.21 and the balance on the mortgage is £71,400 so that’s going off the balance which takes me under £70K which was my aim for the rest of 2020. 😬

Clearly a new challenge is still required though, I can’t just sit back now! The new balance will be around £69,675 so under £69k seems like a stretching target for the next three months especially at this time of year. You would think the current situation would make spending less easier, but I seem to be still meeting people out and about due to our often full house. My sanity says don’t stop with that for now, just keep it coffees and breakfast or toast whenever possible. 

END OF YEAR CHALLENGE 2020 😊

      * Find and pay £676 off the mortgage balance 
      

       * Clear factory mortgage 

       * Stick within Xmas food budget - was going to be £150 but now £200 due to planning on getting M&S food to order as a treat as there’s less of us and I don’t want to do the daily hunt to get bits at Aldi they have sold out of.

       * Start a car saving fund, Geraldine won’t last forever I fear and she has some health issues    with doors not always unlocking, windows that jam and general old age 😁

        * All presents bought by end Nov. 

         * Get a real tree 🌲 and squeeze from personal spending budget 

          * Pay for the weekend in Alton towers (budgeted for) and at least one trip to York if lockdown allows of course 

          * So to start the ball rolling a target of £226 to find this month!

Jessy103

Well done on your progress so far NG and good luck with your end of year challenge! 😀

newgirly

Thanks Jessy, it feels good to be almost back to normal being able to op again soon, hopefully we can start drawing money out from the rent via the business account perhaps January next year, dh wants to leave a couple of months float in there first. We still need to apply to op and pay a redemption penalty.

I also have the money for the cruise set aside , the balance would need paying in a January, I can’t see it happening now really ☹️ We have only paid £30 pp deposit but it’s more the fact we got such a good deal way in advance, it was £629pp, currently that cruise and a balcony are about £1800pp so rebooking to another year would be so much more expensive.

The contrast between this Monday and last is quite big (at hospital last week!) so today I’m going to the shopping centre when it opens with mum and dd for toast and coffee in the champagne bar - it is Essex 😆 we won’t stay too long as mums not going out much now but there’s Xmas bits in the shops now so I quite enjoy it. I bought one of those teddy fleece fitted sheets the other day and used it last night, cosy heaven! So I might get one for ds2 who is permanently cold and as I keep telling him it’s not snowing and it’s not Xmas day so we don’t need the heating on 🥶   

themadvix

Good news NG It must be nice to have some of the pressure off.

It's a pity about the cruise, but I'm sure there'll be other offers in the future - they'll have to persuade people back.

Enjoy your toast and coffee!

newgirly

Hi vix, hopefully there will be if they don’t go under 😢 even worse is poor ds2 who is currently unable to discuss cineworld possibly shutting for good, losing his job was hard but nothing compared to losing cineworld 🥺

I got some Xmas shopping done today, stocking filler bits and advent calendars mainly, but things are different this year for sure. Shelves are way more sparse than usual and it’s busy out there, I’m planning on getting all presents from shops ASAP, the online stuff is not such a worry if it’s records etc. for the boys. Who knows how things will be nearer to Xmas and I don’t fancy battling crowds or finding a shortage of what I wanted to get, planing ahead usually means spending less too 😁

newgirly

Lovely big overpayment made £1725.21 today,  so now I’m under £70k again 😁

I’ve booked two deliveries this week, Asda and Iceland and now I’m wondering whether to cancel them as I had promised I would shop at Aldi from now on. I guess I should really, I just hate food shopping even without COVID, but the savings are worth it so I think I’ll just get on with it and cancel. 

£6.06 requested from topcashback and op’d this morning 😊 

newgirly

I cancelled the online shops in the end , popped to Asda and Lidl and got a basket in each instead. I woke up yesterday feeling sad I wasn’t going to work (that never happened when I worked 😆) so went over and had a couple of coffees there and a catch up, they can work while I chat generally 😬 lovely to see them even though I’m still in regular contact with my work “best fried “ anyway, and my little brother of course 🙂

Two ops made today, another top cashback credit £4.43 plus £8.35 from nationwide for something to do with a paperless bill refund I believe. I’ve shut three current accounts this week, after my health scare I decided my ridiculously over complicated finances and pay day transfers were a bit of a problem if anything happened to me! So two Halifax and a Santander have gone. This made it awkward with the named saving accounts I had for Xmas etc. with Santander, however I’ve found out I can do the same at nationwide, I have various different savings accounts that are renamed now for car insurance, Xmas, holidays etc. There’s not much in them and nowhere is a paying a lot of interest, but it’s easier to manage.

We are getting through a lot of food lately, there’s often now seven for dinner again. But I tend to do the same old meals that are simple and easy, last night for example was giant Yorkshire pudding with meat or veggie sausages, frozen roast potatoes, frozen beans and peas and shop bought carrot and swede crush. It’s quite lazy cooking at the moment, I’m using a lot of frozen stuff as meal planning is a nightmare when I don’t know how many will be here for dinner, less wastage I suppose.