Its time to grow up and pay off the mortgage

OS_QS

Righto, I'm confident I can scrape together my £100 for the additional £200 Op needed to keep us on target, but had a wee thought yesterday that it might be better to keep this money aside for Christmas?! Or will putting it away prevent me buying in excess and going over the score?!

I'm hosting Christmas this year, first time ever, and I just don't know how expensive it will be?

OS_QS

The proof will be in the pudding as they say! It was easier to change my standing order to include the extra £200, rather than try and set up an extra one off payment, so I upped our usual £541 to £741....hopefully we can maintain the extra!! Excited but nervous too! Doing this will get us on track for clearing the mortgage whilst I'm 35.

Though life will go on, it feels better trying to do something whilst we can

I've tried to set up the mortgage account as a payee on my banking app, did a test of £1 on Monday,but its still not shown up as paid :-s unfortunately the mortgage is too big to know to the nearest pound, so I can't check the balance! Numpty!:o

Mortgage_Reduction_Novice

It's funny to read your post.... I spent most of my drive home thinking that we need to stretch ourselves a little further next year if we're really serious about completing the house renovations and then full steam ahead on OPs. A little out of your fiscal comfort zone can get the frugal creativity going.

OS_QS

MRN- I think you are right, but its bit of a change in the way I usually approach our finances. I'm cautious by nature, but we managed this year's goal with basically being sensible, but now that's second nature, the hard work begins!

The mortgage has been set up as a payee on the banking app, and the test £1 has shown up, so this should be fun! :rotfl: Only rule is that we match OPs and only if the other (me!) can afford it. Keeps everything fair

OS_QS

:j finally feeling a bit more festive....I think as its turned so cold. -5 early in the mornings, and I've finally got my winter coat on still we have friends staying, so I'll put my tree and decorations up next weekend

Since its a new month AND I'm determined to commit to the increased OP, I am just back from my first trip to a1di for this weekends food. I was pleasantly surprised at the selection, but must admit didn't enjoy the massive queue or express till experience. However I decided to check my receipts against my supermarket, and sainsbugs would've been £18.66 and I was £14.84. But the thing was in my usual store, where I can recognise things and be seduced by all the nice goodies, there's no way I would've spent only £14.84 and got Only what I went in for!!!

I'm also doing quite well using up things in the freezer

OS_QS

It's been a pretty tough month at work, half my team got made redundant, and yesterday was their last day. It made me really grateful that I'd been saving and have now have something to fall back on should the worst happen. Though there's been constant cycle of redundancies and pay cuts since 2008, I honestly thought things were grinding along the bottom, and at least stable, but obviously not and last months redundancies and the extent of it really took me by surprise.

Losing friends and experienced colleagues and the workload is going to be crazy.

I should be reassured that I've finally have an emergency fund comprised of:
- £3600 ISA
- £1800 regular saver
- £2000 premium bonds
- £1080 sharescheme (halfway through, but can quit at anytime)

Last year I only had my premium bonds as my emergency. But I'm more worried than ever, as its getting perilously close to having no staff left to make redundant :eek:

Mortgage_Reduction_Novice

Hi OS QS...

It's always sad to hear of redundancies. Just horrible. And of course it always make you reflect on what if it were you.

It's good you recognise your savings to fall back on - I keep harping on at OH about having at least 3 month's wages each in savings but he's not in that frame of mind yet.

OS_QS

Hi MRN, its been pretty miserable at work, and the range of emotions have been mental, relief its not you, then awful guilt and sorrow for the unlucky ones.

It takes different things to shock people into saving the emergency pot. After the paycuts it took me a long while to rebalance my spending, I just stopped saving, and continued on with life, then Over time realised I was slowly but surely eating into my savings!

I completely agree with the 3 months each. I've seen couples in our industry where the man was made redundant at the beginning of the recession, then 6months later the wife was made redundant also. So both out of work, as the industry was still contracting, no new jobs being created. So despite being a team and helping each other out, sometimes bad thing just happen. Therefore it's pretty important stuff!

What I struggle with my OH is that he has his savings pot at a figure he's happy with, so he's not too worried if he saves or spends what's left at the end of the month! Hence the OPs which we can draw back at anytime (stealth savings!)

OS_QS

Got a good little soup kitchen going, using up all my veg from my shop at a1di yesterday. Have my signature carrot and maple syrup one, as well as a 1st attempt at parsnip & apple. OH turns his nose up at parsnips usually, but I'm hoping he likes this

Also done all my veg prep for my spag Bol tonight. Go me!! :rotfl:

Mortgage_Reduction_Novice

OS_QS wrote: »

Got a good little soup kitchen going, using up all my veg from my shop at a1di yesterday. Have my signature carrot and maple syrup one, as well as a 1st attempt at parsnip & apple. OH turns his nose up at parsnips usually, but I'm hoping he likes this

Also done all my veg prep for my spag Bol tonight. Go me!! :rotfl:

Oh what's the recipie for your carrot and maple syrup - or is it top secret?!

I quite like HM cream of parsnip and a pinch of cumin but I'm not so adventurous with carrots tending to stick to carrot and corriander. My favourite is broccoli and blue cheese (quite smelly though - especially in the office at work it doesn't smell great if you're not eating it!)