MG - The Matrix Re-wired

Firewalker

fantasia322 wrote: »

Well its 2012 so its onwards and upwards, I think MG should be outta dfw and in mfw, mortgage is still a debt,but a different one.

No-one is debt free till mortgage is repaid.

True. It so much nicer here though. And my 'virtual' experimentation has been showing that paying off your mortgage is not always the best of ideas. This mobey can be used to generate so much more than one needs to pay their mortgage every month.

But this is a different conversation.

FW

Gemmzie

Firewalker wrote: »

True. It so much nicer here though. And my 'virtual' experimentation has been showing that paying off your mortgage is not always the best of ideas. This mobey can be used to generate so much more than one needs to pay their mortgage every month.

But this is a different conversation.

FW

True. And for many, clearing a mortgage completely can lead to a vast drop in credit score. Friends of my parents couldn't even get a mobile contract after clearing theirs for a year - led to very expensive PAYG costs!

mumsiemum

Gemmzie wrote: »

True. And for many, clearing a mortgage completely can lead to a vast drop in credit score. Friends of my parents couldn't even get a mobile contract after clearing theirs for a year - led to very expensive PAYG costs!

I've always battled with the paying your mortgage off early. I think it stems from my parents who always scrimped and paid any available funds off their mortgage. This meant that as kids there were loads of things we couldn't afford to do. In the end my dad died suddenly and their insurance which was designed to repay any outstaning mortgage kicked it and paid the rest. It would still have done this if they had not overpaid the £10k they did.

I know there are the interest costs to consider and I expect by the time I am in a position to overpay my mortgage I will want to do it if I can. There's a while to go yet though!

MM

Gemmzie

We're going to try and overpay ours as we have a 2nd part of it which I want to clear and it'll help us when we eventually move as we'll be seen as able to afford more.

If you're in your "forever home" then I think overpaying a bit is a good idea - stay ahead of the interest and a good bargaining chip with a lot of banks should you ever be in a financial bind. But don't clear that last bit before 50s, even if it's £5k, I think even :money: says this somewhere...

clairewop

Good afternoon

Happy new year everyone

groatie_queen

Well, starting as I mean to continue in 2012... made a pledge to myself to tackle 4 things on non-work days. Today's were 4 drawers in the kitchen - emptied, cleaned, contents cleaned/binned/charity shop, drawers re-filled by category. Will keep going tomorrow, now that I have overcome the feeling that it was going to be a real slog - of course it wasn't - it was just resistance. I didn't set out to do it, but one thing led to another and I remembered my pledge, so just kept going!

The idea is I keep going round the house de-cluttering all drawers, cupboards etc, so when the house sells and I come to move out, I've pared down to what suits my current and future needs. Last year's de-clutter was at macro level (eaves, books and excess furniture), this is micro level!

That's it for today though - happy to chill out this evening.

clairewop

wE DE CLUTTERED a few kitchen cupboards last week thanks to our little visitor it has been lovely finding stuff easily in the cupboard.

Well we had a beef roast dinner today got lots of cabbage left, so looks like bubble and squeek tomorrow. Put a gammon joint in the
slowcooker so thats cooked, so have some stock for soups.

claudiac_2

Just wanted to wish you all a Happy New Year - I hope this year is a good one for all of us x

Dorastar

Not done so much today but did manage a half hour walk and am now tired. Kids have nodded off so early bath, book and bed soon.

Happy New Year everyone.

Memory_Girl

Got one thing to say

SHERLOCK!!!!:T:T

MG