ajmoney's bid to be mortgage free

ajmoney

We pay £74.70 for both a month with a larger portion (can't remember how much) on the gas. We use an average of 9kwh a day for electricity and 46kwh for gas. I know we have our heating which should now be sorted on the timer but it seems quite high. I am going to keep an eye on it anyway.

Reclaimed some money back from work earlier...£251.96...why have I waited 4 months to do it? Another £140 requires some paperwork tomorrow plus a couple of smaller amounts!

coldcazzie

Wow...£85 is just gas for us... we have £55 a month on leccy too... :eek:

ajmoney

Happy New Year!

I am hoping this month is the start of our road to mortgage freedom. I have 3 possible dates for paying off the mortgage
03/09/2022 the day I finish my contract with work
01/01/2022 10 years from now
09/07/2021 our 10 year anniversary

It would be great to pay the mortgage off for when I finish my current job/contract as then all I will have to do is earn money to live but we have talked about the idea of going on a big holiday when I leave so if we can pay the mortgage off earlier then we can save up the mortgage payments towards the holiday and also to having some extra money in the bank.

We would be able to pay our smaller mortgage off tomorrow but would rather have the savings, plus the larger mortgage has the higher rate of interest. I think we will probably concentrate on clearing the larger amount in the shorter time frames and we can always use savings to clear the rest and build then up again.

Although DH is on board with the idea we both love going on holiday and the style of them has been getting more luxurious and expensive as the years have gone on. I think this weekend we will need to sit down and work out where we can compromise.

Anyway...watch this space

ajmoney

£575 a month will clear the mortgage by July 2021 I now need to broach the subject with DH. I finish paying my car off in November 2014 so I can then use that money against the smaller mortgage maybe or throw it at the larger mortgage and then work on the smaller after. If only the interest rates were guaranteed to stay this low for that long!

ETA if we could stick to this my goal will be met, the extra car loan thrown at the larger mortgage then transfer all of the OP to the smaller mortgage when that is paid off and we could be mortgage free by September 2021 leaving a year to save for leaving my job and a lovely holiday.

I wonder if I can persuade DH to go camping for 10 years??? Maybe not!