Mortgage-Free Fresian? Here's hoping!

CathT

Hi Flying Fresian, good to see you have started a diary and well done on clearing that debt. I came onn here originally to make some OP's whilst interest rates were low but am here for the long haul as it is so addicitive and I am really seeing the impact of my OP's.

CathT

flying_fresian wrote: »

Morning all





Small payment today of £1.33 into the new overpayment account. Does anyone know how to work out daily interest so I can use that as my goal for overpayments? I suspect it's small given the size of my mortgage and the low rate I'm on, but it's nice to know nonetheless.

I think there's a couple of calulations you can use, my SS checks mine but just checked it against this and it seems to work.

balance x interest rate %/365

If it's not completely accurate am sure someone else will have one.

Froggy-G

Good morning Flying Fresian!

Well done on all your achievements so far! :j

Would be able to refer me on SB please? Any info would be greatly appreciated

Thanks in advance
Froggy :rotfl:

never_too_old

Morning

Ive just looked at the sainsburys savings account and unless im reading it wrong you have to deposit £5000 and keep it in for 2 years to qualify for the double nectar points,
knowing me ive read it wrong but just wanted you to double check as Mr s can be more expensive for grocery shopping.
Hows Mr FF?

mooomin

l.m.hart wrote: »

Morning

Ive just looked at the sainsburys savings account and unless im reading it wrong you have to deposit £5000 and keep it in for 2 years to qualify for the double nectar points,
knowing me ive read it wrong but just wanted you to double check as Mr s can be more expensive for grocery shopping.
Hows Mr FF?

Ah nuts I misread that, and certainly don't have £5,000. Humbug! Thanks for pointing it out though

Mr F is being frogmarched to the docs this morning, much to his disgust.

yukkibear

I get my daily interest figure from my spreadsheet but it comes up with the equation of

starting balance x interest rate / 100 (this gives you your annual interest)

divide the annual interest by 365 ( this gives you your daily interest)


That might be a little long winded.

Dragonrider

I've just worked out my daily interest using this - what an incentiviser!
Thanks.

misscousinitt

Hi FF

Welcome and good luck.

Never thought about working out the daily interest rate - must add that to my spreadsheet!

I would recomend the 'Small Things' thread for inspiration on little things you can do towards your OP's.

never_too_old

misscousinitt wrote: »

Hi FF

Welcome and good luck.

Never thought about working out the daily interest rate - must add that to my spreadsheet!

I would recomend the 'Small Things' thread for inspiration on little things you can do towards your OP's.

can you post a link for that please couldnt find it

misscousinitt

l.m.hart wrote: »

can you post a link for that please couldnt find it

https://forums.moneysavingexpert.com/discussion/3061466

Hope this helps...