Corerupting my Mortgage

miss_corerupted

cancelled sky now, and our subscriptions to which and farmers guardian, that will save a bit of money.

been going through my comics with a view to selling some but they don't seem to be worth anything so I might hang onto them.

miss_corerupted

I've been using the overpayment calculator and I have worked out I need to pay £875 every month if I want my mortgage gone before i'm 40 so I'm going to redo my SOA again to work out if I can just set up my so to £875 or do I actually have to find more money. this of course depends on the interest rate staying the same.

miss_corerupted

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1710
Partners monthly income after tax....... 240
Benefits................................ 123
Other income............................ 450
Total monthly income.................... 2523

Monthly Expense Details
Mortgage................................ 875
Secured/HP loan repayments.............. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 98
Electricity............................. 100
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 20
Mobile phone............................ 0
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 20
Petrol/diesel........................... 100
Road tax................................ 17
Car Insurance........................... 40
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 9.54
Contents insurance...................... 0
Life assurance ......................... 13.01
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 2
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1926.67


Assets
Cash.................................... 0
House value (Gross)..................... 110000
Shares and bonds........................ 0
Car(s).................................. 4500
Other assets............................ 0
Total Assets............................ 114500


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 67000....(875)......4.79
Total secured & HP debts...... 67000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,523
Expenses (including HP & secured debts). 1,926.67
Available for debt repayments........... 596.33
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 596.33

Personal Balance Sheet Summary
Total assets (things you own)........... 114,500
Total HP & Secured debt................. -67,000
Total Unsecured debt.................... -0
Net Assets.............................. 47,500

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

mummyofonechild

Its possible them if you have over £500 left each month?

miss_corerupted

we are changing our vehicle as we have a L200 warrior as it is expensive on diesel (20 something mpg), expensive tax and expensive insurance. OH loves it but we need something less greedy.

I think i've left something out as we def don't have that much money left at the end of the month

miss_corerupted

i can't think what I've left off at all!!!! If I have got that much left over I might as well overpay by more!!!

miss_corerupted

I'm working from home today so I have got lots to do!! I have decided to take the plunge and ring NRAM to set my standing order to £1000! this means i'll be overpaying approx £450 a month so my yoke should be gone in 6ish years. This or course depends on interest rates not going up and my tenant staying put.
I'm also going to open a savings account for large one off/annual expenses such as insurance and car tax etc.

1 [STRIKE]Ring NRAM and adjust payment[/STRIKE] Set to £1000 and whilst on the phone I overpayed the £80 I said I was going to do a few days ago
2 Open savings account
3 [STRIKE]Update my incomings/outgoings and spend[/STRIKE]
4 Set up S/O to DS savings account
5 [STRIKE]Do at least 2 loads of clothes washing[/STRIKE] ([STRIKE]put fire on as free hot water then[/STRIKE])
6 Put clothes away (don't just pile them up at top of the stairs)
7 Go through some of my CDs to sell either ebay or music magpie

I'm sure there is more than that, there always is

more

8 [STRIKE]Write notes from my day with Big boss, listing all the things he wants doing before I forget, it mostly stuff I've wanted to do for ages but no one else wanted, he agrees with me so I get my own way[/STRIKE]
9 [STRIKE]Do some of my Uni assignment - research mostly[/STRIKE]

miss_corerupted

I can't believe my boys, they are so naughty. We've been having a sunflower competition and mine has been winning, all of theirs is a lovely dark green and bushy. I find out today that they've been feeding their flowers to try and beat me!!! Cheaters!!!! I still win though as mine is still growing and theirs has gone to flower and stopped hahaha

Cheaters never prosper:D

miss_corerupted

just looked at my bank accounts I have £25 left in 1 and £188 in the other so I think I will make these into overpayments. I also sold 2 of my annual leave days giving me another £149 this will be used for overpayments as well = £362. I will round this up to £370. Quite pleased with myself.

OH has sold his car for more than he paid for it 3 years ago and the car he's getting is the same price as his so no cost apart changing his license plate over and it is cheaper tax, insurance and much better mpg

miss_corerupted

well my overpayment (see above) didn't go according to plan. OH is selling his truck and he was offered what we needed to get the skoda. So we went down and got the car with savings and cash. Guy didn't turn up !!!!!!!!! So we now have to cars. Guy has now contacted us again offering £750 less than his original offer. I am so angry. I told OH to tell him NO I'd rather have the same money off someone who won't mess us around.

So annoying!!!

on the plus side though the new car is really good, Came with almost a full tank so we've been driving around loads, even went to see my mam and we haven't needed to fill up. Brilliant

Now all i need to do is stop OH looking at 'bits' for it (he loves cars)

Feel down as no savings now and no overpaying (apart from standard) big sigh!