Want to be mortgage free in 8 years or less!

TwinnyD

Thanks for your replies Tilly am working on OH, will soon have him thinking it was his idea

Last night decided to improve the return on some of my savings by opening a FD Regular saver (Thanks again Tilly ) Already have a 1st Account so was really easy to do.

Received letters confirming last overpayment has gone in. Remaining terms are now 11 years and 1 month and 11 years and 6 months. Haven't looked at Mortgage account to see what balances are now as waiting for normal monthly payment to have gone out too.

No movement on ebay so still at 99p!

coldcazzie

TwinnyD wrote: »

Thanks, OH is on board as in letting me get on with it and nodding and trying to look interested when I talk about it. Probably thinks I'm slightly mad.

I get the same look sometimes - he's not really interested in the ops and the daily saving money, batch cooking etc, but when I showed him the spreadsheet that showed how much money we would save over the term by simply increasing our DD (which if we stayed on this mortgage would be nigh on £20k) that's when his interest was piqued. He even asked if we could increase it further and what the effect would be (I showed him, but haven't raised it as far as he suggested because at this early and still relative fragile financial stage I didn't think it wise to push ourselves too far too soon - if circumstances changed it would be unsustainable).

Sorry that was a bit long winded, my point is that perhaps you just haven't found the key yet to getting him interested. Or perhaps he doesnt have one. In which case, come talk to us instead LOL. :rotfl:

Tilly_MFW_in_6_YRS

Locoblade - search for this in the forum section and it will bring up his spreadsheet which is unbelievably helpful. You can play with a number of variables so well worth having a go.

I agree with Caz, once your DH can physically see the difference OPs make, he may change his mind.

The vast majority of people with mortgages don't get the whole OP thing, but look at the Roll of Honour, these guys got it, and have new choices available to them.

Good luck, Tilly x

TwinnyD

Caz think I may well just be talking to you all

Tilly will have a look locoblade's spreadsheet later, should be doing housework whilst little ones are sleeping but this is so much more interesting!

coldcazzie

TwinnyD wrote: »

Caz think I may well just be talking to you all

Tilly will have a look locoblade's spreadsheet later, should be doing housework whilst little ones are sleeping but this is so much more interesting!

Haha I do that too! :rotfl: life's too short for dull things like housework! Much more interesting on here!

The spreadsheet is pinned at the top of the mfw forum, I'll warn you now though, it's HIGHLY addictive! :rotfl:

TwinnyD

The thought of having to do the housework over the weekend motivated me to get some done, but definitely would rather have been on here!

Have had a look at my savings and think I need to change my cash ISA, only getting 2.1% so will look into that. Tend to keep it with same Bank, but they have a better product so could do a quick change to that whilst I look at maybe moving it elsewhere.

Mortgage debt after January's overpayment is down to £84.8k :T

Really pleased with our level of spending for January, credit card bill which we use for all food, petrol, etc was under £800 the lowest it's been since I can't remember when :T

Ebay bids up to £5.50 on one item, no bids on the other 5

TwinnyD

Think I'm going to spending any money I save on dental treatment as after 5 visits still need more treatment and still in pain!

Ebay sales now at £17, all on one item still so not sure if others are going to sell.

Having looked at average credit card spending and DDs for the past 6 months still a couple of hundred a month over our income :eek: Guess there's not got to be any extra going into the overpayment fund apart from what I take from savings.

Hope everyone else is having better weekends

coldcazzie

Hey Twinny can you analyse your cc statements to see what the extra money is being spent on and see if you can cut it back. Sometimes you get a run where there's loads of things you just can't avoid buying, but sometimes it's splashing out on crap you don't really need. Does your online cc service offer the facility to see what you've spent on over several months?

Also, perhaps now might be the time to post that SOA, see if there's anywhere that can be saved on. An overspending of £200 a month is not ideal at all. Perhaps we can assist?

Hope your weekend improves, and your tooth pain is sorted soon. Nothing worse than dental pain imo. I'd rather give birth than have dental pain!

katsu

If your OH really doesn't want you to post an SOA, then here are some thoughts:

* check gas and electric. Look at the utilities forum or post on here with details of your KWH usage and monthly spending (KWH more accurate as we all pay diffammounts for each unit) and we can comment on how it compares. Go via TCB to a comparison site, put in your KWH and see if it is cheaper to switch, saving money and earning cashback on switching
* banking. Check your accounts suit you (i.e. are you paying for a premium a/c with "benefits" you don't need or can get cheaper) - good switching deals out there too but I'd focus on getting the overspend sorted first.
* breakdown cover. Use TCB for cashback. Switch annually. Consider autoaid for around £40 and equivalent of about £200 of AA/RAC or try autonational for around £66 for 15 months, and cashback too.
*insurance - do you have too many policies/policies you don't need? Use cashback sites and comparison sites for car insurance etc
* check those savings rates. Why keep the money in the same bank when another bank will give you a better rate? Use Martin's tab for the top picks and then just apply online.
* consider a cashback CC for monthly spending, paying off in full when the bill comes.
* use mysupermarket to check out deals and where is cheapest for the weekly shop. Meal plan and reduce impulse spends.

Hope this is some help - getting on top of the overspend needs to be your priority. Good luck.

TwinnyD

Thanks for that Katsu :T Will have a look at the things you have suggested this week.

Ebay sales didn't go great so going to be busy relisting on next free weekend.
Doing quite well with keeping the grocery bill down so hoping to meet my target for January. Also remembered to go via Nectar for some shopping on Amazon yesterday, usually forget :mad: