Possible redundancy and mortgage payments
Skint_yet_Again
Posts: 7,509
Forumite
I have just found out that my work is proposed to close within nxt 2 years. I am worried sick as I do not know if I will have a job to go to in another nearby site. If there is no job there for me I am worried whether I will get a job elsewhere due to my sick leave records.
This job is part time. I have about 2 years to make some decisions/ plan for this. I thought I should look for another part-time job which I could do on my days off, so at least I will have some money coming in. Maybe a part time employer would overlook sick records if I am still working (can only hope! )
I have been making small overpayment on my motgage. Should I continue to throw all spare cash at the mortgage or save it in my emergency fund or do both? After recent overpayment on mortgage I only have £100 left in my emergency fund and I was planning to try and rebuild this, and if any more available funds use these for overpaying monthly on the mortgage.
I would be grateful for any advice.
*re-posted & extended this question here on advice from MFW forum
This job is part time. I have about 2 years to make some decisions/ plan for this. I thought I should look for another part-time job which I could do on my days off, so at least I will have some money coming in. Maybe a part time employer would overlook sick records if I am still working (can only hope! )
I have been making small overpayment on my motgage. Should I continue to throw all spare cash at the mortgage or save it in my emergency fund or do both? After recent overpayment on mortgage I only have £100 left in my emergency fund and I was planning to try and rebuild this, and if any more available funds use these for overpaying monthly on the mortgage.
I would be grateful for any advice.
*re-posted & extended this question here on advice from MFW forum
0% credit card £1360 & 0% Car Loan £7500 ~ paid in full JAN 2020 = NOW DEBT FREE 🤗
House sale OCT 2022 = NOW MORTGAGE FREE 🤗
House purchase completed FEB 2023 🥳🍾 Left work. 🤗
Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).
Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1
Living off savings diary
https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p1
House sale OCT 2022 = NOW MORTGAGE FREE 🤗
House purchase completed FEB 2023 🥳🍾 Left work. 🤗
Retired at 55 & now living off the equity £10k a year (until pensions start at 60 & 67).
Previous Savings diary https://forums.moneysavingexpert.com/discussion/5597938/get-a-grip/p1
Living off savings diary
https://forums.moneysavingexpert.com/discussion/6429003/escape-to-the-country-living-off-savings/p1
0
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