Mrs Ninja's Secret Plan

mrsninja

Hi all,


Long time lurker on here, but only just posting. Looking to pay off our mortgage sooner, but no end date in sight as of yet. We are both early 30's and I would like to be mortgage free by the time I am 50.


Story so far: Got our house two years ago and have been happily paying off fixed rate deal with no overpayments. I have just sorted out a new 5 year fixed deal and so now the overpayments can begin. My DH is not a moneysaver like I am and is happy to leave things up to me. He doesn't waste money, but he sums his attitude up as 'I work hard and I'm not living on beans on toast all my life'. We have agreed to keep our mortgage payments the same even though our new fixed rate deal is slightly lower repayments and have also set up a savings account in which money left over from our joint account at the end of the month goes into.


My plan therefore is that the new payments will overpay anyway, but with the savings at the end of the month I am going to split half into the saving account and half on the mortgage.


Details are: 33 years left. Current balance £85000 with fixed 5 year deal at 3.04%. Payment due each month £339, we are paying £450 each month and whatever I can split from the joint account.


I thought posting it on here might make me do it, but any thoughts or ideas welcome. Does anyone else here do the finances for their house without the OH being fully on-board?


Mrs N.

gazter

12 years off your mortgage, and £19k less interest from one single financial decision. Result....
Another hundred quid a month knocks a further 4 yrs off the mortgage..

edinburgher

If you can afford to pay £450 a month, why do you have a 33 year term? Could you opt for something slightly shorter next time you remortgage?

newgirly

Hi mrs ninja, I have an dh who is not as interested as he could be (or at all really!) I do all the finances and he gets money by direct debit every month for him to spend , kind of like a 1950's housewife in reverse :rotfl:

He doesn't have the time or inclination to sort it out and I enjoy doing it so it works for us. Best of luck with the new diary

mrsninja

Thanks for the replies. In answer to your posts: Yep, I'm aiming to put another £100 a month in- more on good months. Our overpayments are limited to £8660 a year, but I don't think we'll get near that.

We had a 35 year term to start off with as we were first time buyers so it's just carried on from there. I was going to shorten it to 25 years but the advice I read was that it was easier to shorten mortgage terms, but harder to lengthen them again?

I'm glad I'm not the only one with a '1950's housewife' husband! :rotfl:I always feel like I'm badmouthing him when I say he doesn't do anything with the finances, but he doesn't really(!) We both have individual accounts and pay the same into a joint account each month. Out of the joint comes all of the bills and food. Then whatever we have in our individual accounts is our own.

greent

My husband doesn't touch the household finances at all - he doesn't even open bank statements and has no idea what money we have/ what we owe etc. He even passes me his CC bill each month to pay it - he has no online banking logins His view is that I can do it all and as long as we still go on holidays, eat good food and pay all the bills, I can do what I want!

freddykrueger

greent wrote: »

My husband doesn't touch the household finances at all - he doesn't even open bank statements and has no idea what money we have/ what we owe etc. He even passes me his CC bill each month to pay it - he has no online banking logins His view is that I can do it all and as long as we still go on holidays, eat good food and pay all the bills, I can do what I want!

I can relate to this :j this pretty much sums up me and my wife :beer:

Mrs_E_3

My hubby is exactly the same :rotfl:

Busy_Mee

I am another with a 1950s housewife for a husband. At one time he couldn't even remember his PIN number ! I'll be honest though I quite like his disinterest because it gives me full control ....not that I am a control freak .....honest

easylife73

greent are you secretly married to my husband? You have just described him perfectly!

mrsninja

From the replies, it's definitely not just me then! When we went to the bank to set up the saving account he couldn't name a single direct debit that came out of our account...doh. I'm happy though in that I would hate it to be the other way round.


Anyway, I'm aiming to use this as a day to day list of what I am doing to save money and pay it towards the mortgage.


Today I have planned meals/lunches for the week, so it should be a low spend week and even a no spend one.


Sun- Roast beef dinner- leftover meat on sandwiches for work.
Mon- slow cooker beef stew. It's my first day back at work and I know I'll just want to come home and collapse so this should help steer me away from a takeaway (!)
Tues- Sausage/bean/beer casserole- a Jack Monroe recipe that is using sausages out of the freezer and a left over bottle of beer from new year.
Weds- Chicken stir fry- got to be a quick meal as DH has to go back out for 7pm.
Thurs- only need a meal for myself so that's something out of the freezer.
Fri- Not sure yet, so left this one.


Also today I joined Shoptize and earned my first £1 back off the shopping.