Hope is not an Effective Financial Strategy

Karmacat

shangaijimmy said:

Karmacat said:

You did well with the recycling, SJ, good for you  

It just seems like an endless task. No matter what gets cleared other 'stuff' leeches into the spaces I'd created. I had a good luck at the garage yesterday and decided I'm going to be very ruthless. There's stuff in there that is just being kept for no reason. So I'm going to try and make a mental switch to 'not having a garage at all'. What would I have done with the stuff if we had no garage?? That's the question I need to start asking! 

Oh that's very good!  And very true.

Baileys_Babe

Cheery_Daff said:

Excellent progress there! I've yet to work out my numbers in terms of percentage or daily interest, but it does seem like a nice way of keeping track. Does the bank tell you the daily interest, or do you have a nifty way of working it out yourself?

With my mortgage when I log in it tells me the outstanding amount which goes up daily by the newly applied interest, I note down the totals weekly. Take last weeks amount from this weeks and divide by 7, to find the daily. 
I know I could just look daily, but this method works for me. It is a shame mortgage providers are not made to show the daily interest and update it as overpayments are made.

Cheery_Daff

Baileys_Babe said:

Cheery_Daff said:

Excellent progress there! I've yet to work out my numbers in terms of percentage or daily interest, but it does seem like a nice way of keeping track. Does the bank tell you the daily interest, or do you have a nifty way of working it out yourself?

With my mortgage when I log in it tells me the outstanding amount which goes up daily by the newly applied interest, I note down the totals weekly. Take last weeks amount from this weeks and divide by 7, to find the daily. 
I know I could just look daily, but this method works for me. It is a shame mortgage providers are not made to show the daily interest and update it as overpayments are made.

Thank you both! I checked my spreadsheet earlier briefly - it seems according to that (which may not exactly tally with the building society...)we pay about £365 a month interest - can't remember the exact figure. 

I did out of interest work out that 1% on Jan 1st was £1901, and that we've already overpaid more than that this year so that was a nice find!

shangaijimmy

Happy to share a template of my spreadsheet, with a little guide on how to start it off. Message if you're interested.

shangaijimmy

Well today was 'paying out' day and as a result our current account has plummeted    And the countdown to 'paying in' day starts again 

13p TT this morning...every little helps!

shangaijimmy

Check out the premium bonds winner over here  A cool £25 winnings 

I've been buying £250 a month since last summer as resting place for our holiday money. So for May I will buy £225 worth and use the £25 as an OP.

In other news we have been nice a tidy with our current account the last couple of days so that's 2 x £1 TT's overpaid. These little bits are great for my motivation, and momentum.

Cheery_Daff

Congratulations! I won £25 too (clearly the cool amount this month) 😁

greent

And me!! 🥳

Suffolk_lass

I didn't - nothing since I started buying £250 a month in February. Before that I had 3 after my £10k bond first entered the draw in June. I wonder if I've blocked it with the extra £1k?

Karmacat

I didn't either - hardly ever won anything, but for a long time I only had £200 in, so not really surprising    I'm glad we've had these little wins though - TPTB are just getting used to us, one of us will hit the jackpot soon