Mortgage free by 2023 (!)

debtfreeoneday

£25 in from ipsos and £3 from a pcone survey. 

Free money this month now at £179. 

debtfreeoneday

£5 in from ipsos and Amazon balance updated though promptly spent on some necessities. 

Over £25 waiting to clear on prolific. 

Suffolk_lass

You do so well with free money. I often think "should I?" then don't as I am so busy

debtfreeoneday

Suffolk_lass said:

You do so well with free money. I often think "should I?" then don't as I am so busy

I don’t feel it takes me that much time at all really SL.  The way our budget is though, it’s the only chance I have to add to pots or to make OPs. Everything is so lean now…

debtfreeoneday

£5.01 in from prolific. Have jigged our accounts again. I find it so hard trying to save / payoff more than a few pots so I’ve put all the spare pennies into the mortgage CC pot.  Currently got £691.99 / £914.17. Just over £200 to go. The £150 council tax rebate is already accounted for so my first focus is to just clear this amount so I can forget about it. 

Although it cleared £1k off the mortgage I won’t do this again as I found saving up to clear it too pressured. Mortgage statement arrived today and interest is now below £100 each month for the first time ever. 

Karmacat

Well done on the lowering of interest amount!  That's very tangible progress.

Suffolk_lass

It's lovely when you see the interest you are paying dropping - the magic snowball effect means more of your monthly payment is paying down capital and it clears more quickly.

If you found saving up the £1k really hard, the other way we used was to round up the direct debit to the nearest £50 or £100 so the monthly dribble of extra was there each time. Somehow this seemed more affordable when it was all going wrong (DH lost his job not long after we took a £90k extension to the mortgage and then took two years to qualify as a teacher) - no emergency funds or proper savings back then - you can imagine, we were living off credit. I had to swap to interest only and that was rounded to £900 a month

debtfreeoneday

Thanks SL. That’s helpful!  I do round up now by the grand total of 40p. 

debtfreeoneday

Well. Big decision made last night to apply for a job. They move fast and I’ve an interview next week. Rough calcs mean I could bring in an extra £320 a month. It will fit round DH and kids and isn’t a big drain mentally.  Fingers crossed!  

debtfreeoneday

£25 for selling an item today and £2.50 snaffled on TCB buying a £10 gift card for Asda that I we going to spend £10 at later anyway.