Living life, loving life.......hypno's having a ball!

hypno06

benbenandme wrote: »

Fab news about the pay rise Hypno, how about it goes into a skiing pot towards training for the dc's? Then again, I would also highly recommend the mortgage overpayments

This will be the last time that DS trains.......he moves into "adult" territory and the rules for equipment etc are the same as for Olympic skiers - so much expense for kit, fees, etc etc etc. I just can't (and never could, so it is not unexpected for him) run to that.

I have given them the base on which they can take things forward - they can go and do gap years, coach kids on the dry slope, ski-guide in the Alps, or whatever.....and we will continue to have fabby ski hols and some casual racing from time to time.

benbenandme

Yay, another one converted to mortgage spreadsheets

MrsMoo2U

No brainer and well thought through. There is always sense in things that you have thought through. Like you say you can always cancel the standing order if things become tight later on. You are doing really well with the savings too. Yet again - an inspirational post to start my day. Thanks.

hypno06

It also shows me that if I transferred my current monthly long term savings payment to an overpayment instead, I would be mortgage free at 50.....which given that my mortgage is over £160k is no small feat.

Of course, I don't want to commit that level of my budget to the mortgage immediately, because I need to have the comfort of some cash in the bank "just in case", but once I am happy with the savings pot size, I will definitely switch the payment to the mortgage instead (all things being equal, which invariably they won't be of course!!).

MrsMoo2U

That is a good idea. Why tie it all up in the mortgage. Having a level of savings and then being able to decide to put it to the mortgage is a much more sensible option I think. That is where I am hoping to be by January.

Good luck with it all although I know you dont need luck.

Karmacat

:kisses3:Hypno, how wonderful! I'm really pleased for you!

You can set up the standing order online, yes?

hypno06

Sadly not, KC, because the stupid Halifax still uses roll numbers for mortgages rather than "normal" account numbers.

But the local branch is only a couple of mins away from work, so I can easily pop in of a lunchtime and sort it out.

lucielle

A pay rise....got to get me one of those. Well done on all the calculations and over payments.
L

hypno06

I was very grateful for it lucielle, that much is for certain!

Of course, it also means that more gets paid into my pension, so in terms of uber-long savings (provided I live that long), there is also a benefit.

Yes, I am very grateful indeed - especially when the economy is still so ropey.

Shoe_Gal

:j to the pay rise! Still on pay freezes here