And Baby Makes Three....

FunLovinCriminal

Been far too long since my last post.
I need a kick up the !!!.
£74,000 left.
9 years 6 months to run
I want it gone before I am 50 though.
Thats 7 years on wednesday.
Hint hint.
Any advice on how to do this?

julicorn

Hi FunLovingCriminal! This is the first time I'm seeing your diary, because I've only joined this year
Have you tried playing around with the mortgage overpayment calculator, to see how much you should be overpaying each month to hit your goal? I find that quite motivating, really makes you realise what a big impact those overpayments have.

FunLovinCriminal

Hi Julicorn
Yes we have tried the calculators. I get obsessed with them, sadly its the cash required to make the overpayments thats the issue.
Two kids (2 and 4) and wife made redundant in Aptil - she goes to college in August, so things are tight.
I am trying very hard to come up with a plan, but every turn seems another issue.
I am needing divine inspiration.

julicorn

What's freed up lots of cash for us is using YNAB (I go on about it so much, I'm like a broken record, but it's made SUCH a difference for us). It's a budgeting app, there's a 3 month free trial for it, I would really recommend checking it out. It's 0-based budgeting, so a bit like cash envelopes, but just using an app. It's unusual compared to other apps as in there's no real forecasting, you pretty much just enter all the money you have right now, give everything a job (down to the last penny), and as soon as you overspend somewhere you have to cover the overpayment from a different category. It makes you super accountable, because you're faced with very tangible choices all the time (e.g. am I willing to take money away from the mortgage overpayment in order to order take-out right now? How much do I still have left in the food budget for this month? etc).

It's not going to make money appear out of nowhere, but it helps you make the money you have work for your goals. It involves some effort, and there is a bit of a learning curve, but it has made SUCH a difference for us that I can't stop preaching about it.

FunLovinCriminal

Still here, still plugging away.
I have managed in the last 12 months to put away just over £1200 in savings, mainly from surveys and mystery shopping.
My question, if I make a £500 overpayment - would that make a massive difference?
I am allowed to make up to 10% overpayment every calendar year, and have not made any this year - I feel I should, as I would lose the opportunity at the end of the year, but am not sure such a small amount (relatively speaking) would make any difference.
Interest on mortgage 2.18% - £71k remaining on mortgage
Interest on savings 0.2% annually in december.
I am useless at maths - any advice?
FLC

bexster1975

Hello FLC

I missed your August posts and was only wondering the other week how you were getting on.

Happy belated birthday you are 3 months younger than me!

Hope your wife's college course has started well. How are you getting on juggling things?

Bexster

FunLovinCriminal

Hi Bexster
I am still working full time, then on breaks and evenings I do surveys and mystery shopping to supplement the wages we lost.
OH is enjoying college thanks for asking, a lot of work, but will be worth it when she can (hopefully) get working again.
Birthday was understated, no money, and not enthusiasm - but again thanks for asking, hope yours is much more exciting.
How is your journey going these days?
Currently got the laptop running Swagbucks, and a MSE window open, while the kids watch the fire stick and OH does the cleaning - oh happy sunday!

mumof3.12kindebt

Hi I've spent the evening reading your diary. I just want to say congrats on adding two littlies to your family. Well done on everything you have achived so far especially with two maternity leaves and a reduction in your wages you have done so well. Keep up the good work we are all routing for you :money:

FunLovinCriminal

9 years and 3 months left of mortgage, £72530.95 left to pay.
In 9 years 3 months I will be 52, nearly 53.
I want to be free from these shackles before I am 50!
It must be possible, mustn't it?

bexster1975

Absolutely it is!

How's it all going? How's the wife's new career?

Give us some info, let's see if we can get your OP mojo back!

Bexster