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What have I done....

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  • LauraJo
    LauraJo Posts: 1,041 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    See i can see the pros and cons of having emergency money - as it scares the pants off me not having anything as a back up . how do you feel about it?


    I feel the same as KP really. I could always drop my mortgage to an interest only or something so it doesn't really worry me (altho maybe it should?!!!) It does help having an OH in a stable ish job

    Thanks KP for your post.... I will crack this thing next year with a bit of luck!! I want to prove the disbelievers wrong!!!
    Mortgage starting balance 2011 ... £170k today £1.5k
    Savings: £3k
    Aim: 100k by Dec 2021
  • I might take a leaf out of your book then, and live life on the edge. If i payed my savings in it would make a massive dent.... but i guess i like having the security. I am thinking i mite pay a lump when i re mortage to. But by jove laura your making a dent!
    Dec 2011 £141,000 / dec 2013 £135,000/ Jan 2014 £131,000 / July 2014 £129 000
  • hamster2013
    hamster2013 Posts: 245 Forumite
    I might take a leaf out of your book then, and live life on the edge. If i payed my savings in it would make a massive dent.... but i guess i like having the security. I am thinking i mite pay a lump when i re mortage to. But by jove laura your making a dent!

    why not look into an offset mortgage if you can move without major penalties ?
    that would be like having the cake and eating it too :)
  • kirstypark
    kirstypark Posts: 771 Forumite
    Part of the Furniture Combo Breaker
    i do have an interest free credit card I can use in an emergency. So, just in case the boiler packs up or the exhaust falls off the car. If this was a longer term plan, then would fill my isas first before overpaying, but like Laura Jo, I am aiming for mortgage to be gone within as short a time limit as possible.
    mortgage 1 33,000. paid nov 2012 :D. mortgage 2 87,000 due 51,686.76 at july 2013, but then:new home and remortgage ... £101065.43:eek: now 74k
  • LauraJo
    LauraJo Posts: 1,041 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    To be fair I do have savings - Just looked and I have 96p in my savings account!!
    I do like living life on the edge but maybe I wont go into financial advise for a living!!

    Want to get a horse next week so that might slow down my OP'ing!!!
    Mortgage starting balance 2011 ... £170k today £1.5k
    Savings: £3k
    Aim: 100k by Dec 2021
  • you will - they eat you out of house and home!!! I love them, but its all i have every known!
    Dec 2011 £141,000 / dec 2013 £135,000/ Jan 2014 £131,000 / July 2014 £129 000
  • LauraJo
    LauraJo Posts: 1,041 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    you will - they eat you out of house and home!!! I love them, but its all i have every known!

    Have you got one now? Looking at a 16hh Irish draft. He's v sweet, a been there and done it type! Very strong though!
    Mortgage starting balance 2011 ... £170k today £1.5k
    Savings: £3k
    Aim: 100k by Dec 2021
  • LauraJo
    LauraJo Posts: 1,041 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    Wow lodgers are like busses... None for ages now got 2 coming round today!!
    OH away so hope they not total weirdos!!
    Mortgage starting balance 2011 ... £170k today £1.5k
    Savings: £3k
    Aim: 100k by Dec 2021
  • hope that they arnt weirdos!! I have lots of different animals, he sounds lovely, they are good natured.Thankfully due to the set up mine dont cost me anything!
    becareful with the lodgers!x
    Dec 2011 £141,000 / dec 2013 £135,000/ Jan 2014 £131,000 / July 2014 £129 000
  • LauraJo
    LauraJo Posts: 1,041 Forumite
    Eighth Anniversary 1,000 Posts Combo Breaker
    hope that they arnt weirdos!! I have lots of different animals, he sounds lovely, they are good natured.Thankfully due to the set up mine dont cost me anything!
    becareful with the lodgers!x

    What do you have?! I've got dogs and chickens but need a horse again (saves on gym membership at least!!)
    I'm really excited to see him but worried that he is going to be too strong for me coz I'm a rubbish horse rider!!!
    Mortgage starting balance 2011 ... £170k today £1.5k
    Savings: £3k
    Aim: 100k by Dec 2021
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