I WILL be mortgage free by 50!

Mortgage_Reduction_Novice

Skittle wrote: »

I don't think we will be able to save much towards OPs this month with Christmas getting in the way

How rude and inconvinient of Christmas to do this to us once a year! Never mind, there's always January and February and March and April and...

Skittle

Mortgage_Reduction_Novice wrote: »

How rude and inconvinient of Christmas to do this to us once a year! Never mind, there's always January and February and March and April and...

I know, every year I say that next year I will buy a few bits every month but somehow it never happens. Still, it's my favourite time of year so don't really mind the rude inconvenience :rotfl:

Yummy fish pie cooking in the oven at the mo then an early night I think.

Skittle

Decembers regular mortgage payment went out today. The new balance is £99,045, daily capital reduction £13.95 and daily interest £12.68.

DDs baby is still showing no sign of arriving though she is due today.

I spent today trying to get my accounts in order but didn't quite get finished. Think I'll try to get it sorted this weekend so it's off my mind before Christmas.

Talking of Christmas I need to get cracking with present shopping. This is the first year that it's not been a struggle financially so really looking forward to it

Got my car back from the garage yesterday and the repair was covered by the warranty which is great news

Skittle

Whew, what a month!

I am now grandmother to a beautiful baby girl She arrived 4 days late on the 11th and is healthy and happy and the apple of my eye.

It has meant that Christmas has been a bit hectic as DD and her boyfriend are living with us at the moment - I'd forgotten just how much of an impact a baby has on your life, even if they're not your own. My house looks like a bomb has hit it!

I really wanted to get my tax return done before xmas but with the arrival of baby coupled with toing and froing to the hospital to visit a relative who's been poorly it just hasn't got done. My dad and his partner are arriving for new year tomorrow afternoon so I'm going to get up extra early and get it done before they get here.

I start a new job on the 2nd which is quite exciting. It means I will be working closer to home and earning a bit more so should save some money on fuel, and will be more awake in the evenings as no more getting up at stupid o clock to commute so win win all round

elantan

Congratulations granny

Skittle

elantan wrote: »

Congratulations granny

Thankyou, it's a lovely feeling

skint_spice

Congratulations on your grand daughter, can see why things might be a bit chaotic at the moment but lovely news.

kirstypark

congratulations on the new baby, I bet you are going to find it hard to save cash when there are so many pink things to buy:j

Skittle

Oh poo, just ordered a lovely new throw for my rather manky looking sofa from achica but forgot to do it through quidco

On a happier note, our mortgage balance now stands at £98,611.81. Daily capital payment £14.00, daily interest payment £12.62.

I don't think we'll be able to add anything to the ISA/mortgage OP pot this month as we need to pay for the flights for our holiday in June. Once that's paid though it's just spending money as the accomodation is sorted. I can't wait as it'll be our first proper holiday for seven years :T

Skittle

Well, I can't believe it's been so long since I last posted. Much has happened in the last 18 months and life has been busy busy busy!

DD and baby have now moved out leaving just me, OH and DS so life is finally a little more quiet and my house is finally looking respectable again.

Since last posting I have managed a grand total of £0.00 in mortgage over payments What can I say, babies are expensive! Actually that's not technically true as when interest rates went down a few years ago we kept our payments at the same level so have shaved a couple of years off in total, however this will not get me to mortgage freedom before 50 which is my ultimate goal.

I'm now self-employed on a full time basis where before I was working part time for other people and part time for myself. It's taken a while but I'm now able to pay myself a set amount of wages per week which is enough to cover my portion of the usual mortgage and secured loan payments, bills and food etc.

I also have a small second job, again self-employed and I get to do as much as I want when the work is available (and when I have time, which is very limited). It's the income from this which I am planning to use for mortgage over payments. My aim is to over pay by a minimum of £100 per month to start with. I know it's not alot but will bring our mortgage end date 2 years closer to 2024. Still want to pay it by 2022 though so more to aim for in the future!

We need to decide at some point what to do about our humungous secured loan which currently stands at just over £69,000. Hopefully we will be in a position to add this to our mortgage in a couple of years time. We can overpay but by no less than 10% of the outstanding balance and we simply wouldn't be able to save that amount without dipping into it.

I'm also determined to reduce our household bills and use the excess money to either put towards over paying or to start building a savings pot. Probably should build up some savings first but undecided.

I have other goals I want to meet but this post is long enough already so will save that for later