We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Against all odds!
Octobersgirl
Posts: 1 Newbie
Hello fellow mfw's!
I am happy to announce that I would like to officially join this merry band of mfw's!!!! As with many others, I have been lurking on this site on and off for the last few years and have made great inroads into our mortgage.
So the all important detail:
2007 house brought for £250,000 (15% deposit of £37500)
2011 house was finally decorated, extended and emergency fund built up. £14100 overpayments made this year.
2012 £36100 overpayments made this year.
2013 £10500 overpayments made so far this year.
Current mortgage is £115,000 at rate of 2.49 (tracker mortgage 1.99% above base rate). So about 54% of mortgage repaid. My husband and myself both work full time and we have a young toddler.
We already do the usual money saving things with utilities etc and food shopping. We do have emergency savings of £10,000 but bearing in mind that we both have 4 year old cars, new roof and new boiler we are looking to reduce this slightly.
I estimate that we will most likely be able to put another £4,000 into mortgage this year... My biggest hurdle tho is meal planning and budgeting take always. So where I'm always buying the buy one get one free deals or bulk buying items we use a lot when they go on offer, when we have guests round which tend to be of the surprise variety I just think lets get a take away for dinner because I don't have enough food in... I have a large fridge but a small freezer section so can't fit much in apart from items we eat on a weekly basis. I have actually been considering getting a chest freezer to solve this issue. Any tips would be welcome
I am happy to announce that I would like to officially join this merry band of mfw's!!!! As with many others, I have been lurking on this site on and off for the last few years and have made great inroads into our mortgage.
So the all important detail:
2007 house brought for £250,000 (15% deposit of £37500)
2011 house was finally decorated, extended and emergency fund built up. £14100 overpayments made this year.
2012 £36100 overpayments made this year.
2013 £10500 overpayments made so far this year.
Current mortgage is £115,000 at rate of 2.49 (tracker mortgage 1.99% above base rate). So about 54% of mortgage repaid. My husband and myself both work full time and we have a young toddler.
We already do the usual money saving things with utilities etc and food shopping. We do have emergency savings of £10,000 but bearing in mind that we both have 4 year old cars, new roof and new boiler we are looking to reduce this slightly.
I estimate that we will most likely be able to put another £4,000 into mortgage this year... My biggest hurdle tho is meal planning and budgeting take always. So where I'm always buying the buy one get one free deals or bulk buying items we use a lot when they go on offer, when we have guests round which tend to be of the surprise variety I just think lets get a take away for dinner because I don't have enough food in... I have a large fridge but a small freezer section so can't fit much in apart from items we eat on a weekly basis. I have actually been considering getting a chest freezer to solve this issue. Any tips would be welcome
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards