SmlSave's extremely small steps to reducing the mortgage

SmlSave

Welcome to my new home Come in and have a look around……. isn't it big, isn’t it lovely?

Have a cuppa and help yourself to the biscuits, it’s nice to have company.:coffee:

I’m SmlSave with a DH (not a natural moneysaver) and DS who is almost 2. I think I need a diary so I stay on track with paying the Mortgage off as quick as possible. It certainly worked with the last house which we overpaid on average £3000 a year and dropped the mortgage by 2 years.

We’ve been in the house for two weeks now and I can see it being a big expense to get it decorated. DH is spending money like water on DIY bits and has plans to automate the house *rolls eyes* Apparently this will save us money in the long run (I don’t believe a word of it)

Anyway let me introduce you to our ball and chain:

The Mortgage is in two parts, one of £87,000 at 5.09% and £50,000 at 4.29% over 30 years meaning that we pay £720p/m and the Banks wants us to keep paying that until we’re over 60 *faint*

The Debt is a fairly flexible one at 3% which I’m paying back at £200p/m so I should have it paid back in under 10 years.

I need to get an action plan under way so any advice or tips you have found useful would be great.

I hereby declare war

Alchemilla

Hellooo!
WELCOME.
I am so GRATEFUL to have a new diary to read.

Tilly_MFW_in_6_YRS

Welcome to the madhouse :)

Tilly x

CathT

Hi SmlSave, how are you? Congratulations on the move!


I'll be following your diary

SmlSave

Hi Alchemilla Tilly and Cath :T How are the family?

I hope its nice where you are, it’s almost sunny today here. I actually walked into work without a hat and scarf.:)

Being able to walk to work means that I save £3.50 a day (£10.50p/w £42p/m and £504p/yr) It’s not a very nice walk and I certainly wouldn’t do it in the dark but now it’s a good way to make a small saving.

Speaking of which I want to have several small saving aims which I will write down. This being Small Saving Aim 1. (Walk to Work)

I was good and brought lunch today, ham and salad sandwiches, OJ, crisps and yogurt. But I've already eaten it all and am peckish all ready..........

What are your favorite lunches?

Alchemilla

Cheap work lunches AF 10p noodles.

newgirly

Hi smlsave, welcome back congratulations on the new house, I'm sure you will get that paid off nice and early, best of luck.

Alchemilla

Do I remember that you are a primary teacher?

Courgette

Hi Sml :wave:

Weirdly I was just thinking about you yesterday. Glad to hear the move went well, and WOW to a nearly 2 year old!

Glad you picked up Alchemilla's name change hint. Why she changed her name and drop that hint every time I'll never know :rotfl::cool:

abouttimetoo

Hi there SmlSave

Great to have you back round these parts again so welcome back

Congrats on the house move, look forward to reading your updates

Regards
ATT

SmlSave

Its so nice to come back to MFW and 'see' people I know I don't have much computer time anymore so I haven't seen anyone's diaries, hope you are all ok.

I hadn't even thought about noodles for lunch Alchemilla, I will give them a go and no, I'm not a teacher I'm a legal sec (part time now)

Thanks newgirl, tilly and att for all the well wishes. I thought the same about the name hint Courgette

I've spent all day sanding and stripping paint - my poor hands! Going to enjoy my cuppa and have a rest.