our forever patch challenge

glitterjunkie

I started OP'ing because we want to move to a bigger house in the next couple of year's to hopefully accommodate another child or 2. The more equity we have in our current house to carry forward to the next house, the nicer house we can afford, a garden for the kids to play in etc.

The more I read about it on here, the more it just makes sense. Thousands in interest saved in the long run and just a feeling of security.

I think its all about balance though. I would never want to OP to the extent that we can't enjoy life too, we have budgeted for plenty of spending money and holidays too. I just find OP'ing makes me think about money more carefully, stop wasting money on rubbish that we don't need and making the money we di have work harder so that there's more left over to OP

sammy70

Hi glitterjunkie! i agree its all about getting the balance between saving/overpaying, yet still enjoying your life too.

Hubby and i love long country rambles together (with picnics when the weather permits), a night in a country inn every so often, with four poster and lovely food and surroundings, and snuggling up with each other, a good book/film/treats (not all at once i may add;)).. none of these cost a fortune, indeed we easily save enough for the odd night/weekend away using xmas/birthday money, and savings through careful food shopping etc.

We have no desire for the latest gadget/outfit/trendy restaurant, we have everything we want, we are just being careful and making the best of our hard earned savings to allow us in a couple of years to complete our happiness with a home we will live in forever, i want another horse, hubby wants his classic car(not a mega expensive one), and just to live in as self sufficient, peaceful, happy rural life as possible.:j

Good luck with your mortgage free journey !! i find setting little monthly challenges to ourselves keeps it interesting, and helps with the savings/overpayments too !!:)

x sammy X

sammy70

Hi diary land!

pay day today, so updated signature with savings/overpayments. Will update mortgage balance 2/3 when interest has been applied.

March figures as follows-

Savings- house savings- £736, total saved £7,180.00

horse savings this month- £183
Hubbys car fund- £183
Emergency fund- £250
kitchen/diy - £125
Total savings for march- £1477

Mortgage overpayments this month- £292.82

Im a week in to my shopping challenge. Tommorow just got milk/fruit/loo roll and a couple of other essentials, so no dreaded weekly big shop! yey!:rotfl:

Tomorrow sees the start of month 6 of our 36 month challenge to pay off our motrgage to allow us to sell and use equity as large deposit on our forever home.

Let the frugal fun continue! lol:j

X Sammy X :beer:

sammy70

Here we go again into another month of our challenge!

The sun is shining, 2nd load of washing nearly ready to peg out..As soon as thats out me and my four legged friend are off for some much needed fresh air and exercise! My lovely hubby is in bed after a long night at work, while he recharges his batteries, i will make the best of the lovely weather!

Tonite its Sammys takeaway pizza, a few dinks and choccy treats, the delivery is free, and really fast, 1 minute from our kitchen! Lol:rotfl:

Hope you are all having as nice a weekend..

X Sammy X

sammy70

Morning everyone. Just a quick one to update signature now mortgage updated online..

New balance £37,419.75, so next month all being well il be into the £36'S! I:j

x Sammy xx

sammy70

:j Paid £28.88 to mortgage this morning. Got holiday from work today to help parents , and get a few other odd jobs caught up on, back at work tommorow.

X Sammy X

sammy70

Hi Diary land.

Currently we are on Halifax svr 3.99%. Tonite ive called them, and changed to a 2 year fix, 2.24 fixed till july 2016, new monthly payment £367.21, this is a reduction of £55.78 a month, saving £1506.06 over that 27 month period (it starts April 2014, so actually 27 months). This works out to our ideal selling time in our 36 month challenge, i can still overpay 10% a year, i intend to save enough to completely clear the mortgage July 2016., aswell as paying the max 10% per year.They are sending paperwork to sign, and new rate starts April..

X Sammy X:)

sammy70

Happy sunny monday:j

I received my mortgage paperwork Friday, so signed and returned it straight away, so hopefullynew rate will start from 1st April as planned.

Im a bit annoyed regarding recent overpayments. I made one 4th march, one 6th and one 7th. The 7th went through 1st, then the 6th a day later. The one i sent on the 4th (faster payment) still hasnt hit the mortgage. Has any other Halifax account/mortgage holders had this problem recently?

X Sammy X

sammy70

Hi diary land

Called Halifax today,as payment still not showing from the 4th March. Turns out they are aware of payments not updating, but thankfully they confirmed they had received all 3 overpayments.
To celebrate i made another overpayment today,£25.55 , ammount left in bill account, i couldnt resist! lol

X Sammy X

sammy70

Hi diary land.

Ive had all paperwork from Halifax confirming new 2.24 rate from 1st April.So that will make an extra saving each month into our house pot..

Next week is our paydays, so will update all latest savings/mortgage/overpayment/ balances..

Nothing exciting to report, just keeping a careful eye on daily spends, trying to reduce grocery spends , and cut back on calories..

X Sammy X :j