Its time to grow up and pay off the mortgage

abouttimetoo

OS_QS wrote: »

:j our second overpayment of the year has been made :j

£600 total overpayments made in 2012

Well done OS QS, did it feel good

Re your OH not having any interest, you'll see lots of that around but most of them seem to come around at some point and one of the usual 'motivators' is showing the OH how much you have already reduced the term by. I hate to generalise here but... :rotfl:men tend to like to see the results or a preview of what it could look like before they get behind how it could happen

Sorry to all the men out there

Pisces

Just wanted to say well done. Sounds like you're making good progress.

For the bank accounts, I'd really recommend First Direct (think the bonus for opening is still valid too). I have a current account, regular saver (8%!) and easy access saver too, and I almost clear out my current account on pay day to my various 'pots' leaving me with very little disposable cash. When you have to think about transferring money for something non-essential it does put you off spending! It's really painless to set up and takes a minute or two to get it going - so go do it now ;-)

All the best on your journey.

OS_QS

Well I finally applied for first direct. I got accepted, but have had no email confirmation. Guess I'll just have to wait for something through the mail?
Laughing at myself for putting it off this long, then getting disappointed its not instant!
Tried to get OH to open one too, but he wasn't up for the monthly shifting about of funds. But at least if I get mine set up we'll be in a better place and can make use of the 8% savings

OS_QS

jimmyhillsfanclub - thanks for the advice. I looked up offsets, and unfortunately there's only 1 available for our current LTV and its a higher interest rate than we're currently on. But an offset is something I'd like once our LTV is reduced and we can get a better rate than we're currently on.

ATT - I sat him down and showed him my spreadsheets. He was shocked with the money we're frittering away and then amazed at the difference to our mortgage if we put it to better use! He is happy to contribute to overpaying. Although he isn't up for the hassle, he's happy to leave it to me.

Pisces - thanks for the nudge- you'll see I finally did it

OS_QS

I'm very impressed so far with first direct. I received my new account details yesterday morning

Just need to arrange the moving of money and the 8% savings account (which I'll do tonight) and that will help a lot with my money management aims.

Am also to arrange for my isa to be transferred from current paltry provider. Hope to do this on Saturday morning

OS_QS

Hmmm two weeks into my spending diary, and it doesnt make very good reading........

I spend a fearsome amount of money on work related things - ie the bus when I should walk, sweets out the vending machine and lunches.

Over the last two weeks, I have frittered away £55 on the above things.:mad:
The next two weeks I'll continue to record my spends, but hopefully will be more aware.

If I cut out the daily afternoon visit to the vending machine, and jumping on/off the bus for £1.30 each way instead of walking for 20mins, not only would I save £68 a month, but think of the reduction in calories! Double the benefit :T

Spiggle

OS_QS wrote: »

Well I finally applied for first direct. I got accepted, but have had no email confirmation. Guess I'll just have to wait for something through the mail?
Laughing at myself for putting it off this long, then getting disappointed its not instant!
Tried to get OH to open one too, but he wasn't up for the monthly shifting about of funds. But at least if I get mine set up we'll be in a better place and can make use of the 8% savings

Hiya OS QS,

I don't know how far along you are with the FD account but if you open it as a joint account you can then have two regular saver accounts, one in your name and one in the OH name. We've done this and my OH wouldn't even know he has the accounts let alone get at the money!!! Just thought that might be useful for you.

Well done on your OPs so far.

All the best,
Spigs

OS_QS

March Update - £300 OP this month, but have had a lot of bills this month, our car was poorly, and had to go in for repairs - £600 later and shes back.....hoping to nurse her into next year, but outlay has made focus on the car savings plan a bit more.

There's no point overpaying on 2.5% then having to take out a loan of around 7.5% for the car. So for April, I've reduced the OP Standing order to £100, and allocate a further £200 to the car. Seems such a small sum to overpay, and am quite disappointed, but its the sensible thing to do in the short term, I hope!

OS_QS

Time to get back into moneysaving, after a couple of hectic and expensive months. Just going to download the stuff from my mind, to remind me it’s the little things that help:

Bought 2 x 12 book of first class stamps. Future saving £4.03
Altered my route to work, so I now no longer walk the same way as the bus route = no longer jumping aboard when I saw one coming. Plus get free exercise. Saving £1.40 each way! Monthly saving £33.60

Brought lunch to work 3x week = £27/month saving

Returned new shoes to Clarks £40 back on card. Re-heeled 3pairs of shoes/boots = £22. Saving £18, plus saved a pair from the bin!

Making soup with Aldi super 6 veg. cost / portion 20p vs £1 from fresh shop bought

Managed to find 10 things for music magpie - hopefully receive £23 (including £1.50 for a dvd I bought in poundland J ) Never used them before

Still to transfer D/Ds over to FD for £100 payment. **must do tonight**

Need to research utilities – just came off good Eon deal, and for once Eon are no longer cheapest for us. Shame cos I liked them! **must do tonight**

LauraJo

Hi
As I'm in a similar situation - I have to ask if you have made any steps forward to get OH on board?! If so please share!!!