MFW starting young.

pennystretcher

If your interest is calculated daily, the earlier you pay, the more you save unless you are getting more after tax on savings account than your mortgage rate.(rare at this point of time) Remember to keep some money in rainy day account though.

Sdav

I've got a savings account that has a years worth of money in for all bills, so I might just keep adding any extra to that to increase the fund. And carry on with my normal OP.



Can't wait to start trying to make some extra money from unused items we have around the house and in the garage. will be a very nice feeling to unload some stuff and hopefully make some money from it.

Sdav

Well back on the thought of extra cash, I've decided I will try and make a set amount each month to contribute toward the 10% overpayments, so I'm thinking if I aim for a extra £200 a month from selling my Unused items to cash back, anything I can think off to help boost the payments. I may even consider a second job small hours part time if it will be worth my while.

Luckyinlife

That sounds like a great idea specially as your rate is around 3.7% hard to get 4% on savings after tax :[

10% is around 9k a year for you is it ?

Sdav

Yeah it is just over 9k we are comfortable able to overpay £600 a month so that will take us close to the target 10% so if we can raise a extra £200 we are right up there

Monie

Great been enjoying your diary! Another "young un" here. You have been overpaying well each month, is this just out of salary and ebay or do you have any other tips to share? I like batch cooking but we don't have a huge freezer at the moment, can't justify buying a new one yet before the big move, will do when we have settled as its so much more convenient to grab something from the freezer than lots of little shops!