The impossible dream

LeighofMar

10k barrier is amazing!💃💃

Holiday sounds lovely. Have a great time. 

Feeling the cost of living squeeze everywhere. We make an average income and are in a LCOL area and still prices of food, gasoline, healthcare, everything is getting tighter. I am so glad we bought when we did and will be MF soon to get some breathing room. 

savingholmes

Congratulations on such huge progress.

Sad about the need for loans. Tricky times for many.

Tahlullah.H

It's nearly payday, so getting ready to do the money shuffle.  Its also nearly the end of the month, so will have a look at what I can pull together to ensure I am on track regarding mortgage payments.  Right now, all is well and I haven't needed to borrow any money from anywhere.

Received a letter from First Direct - mortgage company - saying that the interest to be paid next month is £35.  This is brilliant.  Although the Standard Variable Rate is higher than had I taken out a fix, because the amount owed is low due to offset money and savings in my accounts, the amount to be paid in interest is really manageable.

Following on from Money for Dream's post, I looked at 'what I owe the world' (WIOTW) and without considering what very limited savings I have, I am currently in debt to the sum of £15,500, between the mortgage and the car loan.  This is again great news.  I have so much to be grateful for to be in this position.

Anyway, the mortgage trundles on, and will be paid off by the end of December 2023.  So pleased.  Then next year, I can clear the car loan, and see what I want to do, keep the car for another year, or change it and get into debt again.  Ultimately, I have to make a decision on it.  Keeping it is really just delaying the inevitable, but perhaps that's a good thing.  We live in such a disposable throw away society, maybe I should do my part and keep the car as along as I can.  Currently, it has 118k on the clock, but it should last to at least 200k as long as I look after it.

Anyway, I am leaning towards keep, because I have things I can be doing with the money I will be saving from not having to pay the mortgage, rather than buying a new to me car.

5 months to go to mortgage freedom!

Moneyfordreams

What an amazing feeling - so close to the end! I think I would keep the car too. 

(thanks for the mention )

LeighofMar

Sounds like a good plan. It will be so refreshing to be mortgage-free and car note free, at least for a while, for you. My 2006 Honda Pilot has 200k miles on it. Our mechanic is also a friend and he had put in a low mileage engine and the owner said, never mind, she would just get a new vehicle. So he practically gave it to us at a steal of 2k. It purrs like a kitten and I will drive this thing until it can't move anymore. 

Tahlullah.H

The Honda Pilot is not available in the UK as far as I can tell.  We have the Honda HRV and the CRV in the UK, along with the new and shiny ZRV, joining the SUV market.  Your car model looks like it will last for a while if looked after.  My Range Rover Evoque will do the 200k miles and more, so I should be sensible and save my money for something more important.  Guaranteed if I replace the car, I will need the money for something else.  And a new to me Velar or Evoque will cost well over £20k if I want to get something like the spec I currently have.  So yes, I think I will run it as close to the edge as possible. It still needs to be running so I can trade it in when the time comes, or you have to pay to have someone dispose of it, which is just throwing good money after bad.

savingholmes

I can only dream of the day when my interest is £35. You've achieved so much. Well done. Getting close now.

Tahlullah.H

Thanks Savings.  With a new house purchase on the horizon for you, it may be a while until you get there, but a new home which fits exactly what you want and need, means the interest you pay is a small price in the bigger picture.

One of the people I lent money to earlier this month has repaid.  Restores you faith in human kind.  Still waiting for the other to repay, but not holding my breath.

Can't believe it is nearly August - I am still having to use the open fire to keep warm.  Ridiculous situation, but at least I'm not using the gas central heating.

Hoping for a refund on my Calor Gas this month, which will help towards my very off-putting out of synch payments to the mortgage.  I hate lack of symmetry, so I need to make a payment of £300 to get to where I want to be, which is getting to the end of the year without having to take money out of my PB savings to make the final payment.

Another difficult conversation with my mother who I hung up on again.  She said 'All I need is my one daughter'.  I reminded her she has two, she insists on one because she doesn't like my sister.  So I said when she remembers she gave birth to two, we can talk.  Always difficult speaking to her, she makes the lives of those around her a misery.  But she is allowed to do what she wants, she has earned the right due to age.  Its just that I don't have to tolerate it any more or be complicit in it.

Think I will go and have a drink of Lambrini.

savingholmes

Sympathies on the family issues. Not easy trying to juggle stuff like that. I imagine in comparison the mortgage feels easy.

Good that one loan has been repaid to you already.

Moneyfordreams

One of my sisters treated another one awfully. I eventually fell out with her over a row... but one regret I do have is we were complicit of her treatment of the other - we just let her be horrid without challenging her earlier.