My SOA--hope i've done this correctly :)

bouncydog1

As you have savings, suggest you clear very and next as interest rates are very high.

sistafromanothermista

merlot123 wrote: »

Why is your mortgage rate so high? 6.8% is steep.

Are you fixed into the mortgage?

Hi unfortunately yes, we bought our house just as we were on the edge of the recession. Luckily our fixed rate ends in Oct

asparagus1968

bouncyd!!! wrote: »

As you have savings, suggest you clear very and next as interest rates are very high.

yes,this is what i was thinking.no point in paying outall that interest!
think this is a situation where you nedd to look at each out going and plan how to reduce it by any means possible eg,drop a tariff on mobiles/make sure all inclusive mins are used before landline is touched.
reduce tv package or change to freesat.
meal plan,then make shopping list and stick to it.
checkcomparison sites(and get onto them via topcashback or quidco) and check all utilities and insurances.
you are starting at a good point though,with a surplus,good luck to you,its a fantastic feeling seeing all your bills then debts go down!:)