ATB's £171k quest begins.... NOW!

atypicalblonde

Shangaijimmy thank you for that.
OP made of £50, sold a large item on gumtree which is being collected on Thursday so that's £80 for the pot! Thanks for popping in strugglingyouth xx

audigex

As long as you keep the fixed terms short and overpay until you hit the limit then save the rest, you shouldn't lose out much - you basically lose out on the difference in the ISA and mortgage interest rates, for the amount you would overpay, for the amount of time you'd over pay.

Even if you had 15k extra to pay off immediately in June, that's still only a couple of hundred quid a year.

Basically just pay off as much as you can every January, then top it up every month until you hit the limit and then start putting the cash back in your ISA. You'll probably lose out on £1,000 over the next 5 years, but the lower interest rate will more than make up for that.

atypicalblonde

Thanks audigex you've explained that really well much appreciated x

atypicalblonde

My average daily interest is £10.39 - a very sobering thought x

shangaijimmy

A sobering thought yes, but i bet you've already worked out when you get below £10.

If i had to list the most motivating factor for the Mr & Mrs SJ we'd both put daily interest at the top!

Watty1

atypicalblonde wrote: »

My average daily interest is £10.39 - a very sobering thought x

Maybe a motivating one? When Mr Watty is about to 'fritter' cash I tell him it will be another day on the mortgage. He often points out I could do well to listen to that advice too!!!

atypicalblonde

thanks both for commenting.
£300 made from earnings this week will be OPd tomorrow, as will the cash I receive from my gumtree sale. I cannot wait to be in the 50s!


Someone, I cant remember who, said that getting below the £100k threshold is the hardest bit, once you are below that it seems to reduce a lot quicker and easier. x

shangaijimmy

How did you get on with the spreadsheet i sent a link for?

MummyEm

Just popping on to catch up after a few busy days. Looks like you are still doing great. Keep it up and that sub 50 will be here in no time.

atypicalblonde

Jimmy - its still on my list of things to do. I worked out the daily interest rate by googling it and following a step-by-step how to.. guide!


Thanks for popping in MummyEm.


Righty ho, I am promising myself that next time I log on here and post I will be in the 50s! Time to go and check out all the online banking apps and make this happen! x