The "Mortgage-free in 2025-30" club!

NorthernMonkey1

Well, today I confirmed my subscription to the company share save scheme.

5 years at £300 a month :eek::eek::eek:

It comes out of my paycheck after tax, so it will put a significant dent into what I can overpay. On the plus side, in 5 years time, hopefully I can pay a £20k plus chunk off the mortgage.

I've already got a £200 a month share save which I subscribed to 10 months ago, which matures in September '17. If the shareprice stays as it is, that one could be worth £12k

These 2 together will probably be most of my overpayments.

pinkteapot

Good work, NorthernMonkey1! I was reading that thinking it was a bit rubbish that they didn't make it a pre-tax benefit, but then I read about the upside with the share price on your current load, and figured it was a pretty good benefit already.

Our regular savers that I thought matured at the start of May FINALLY mature tomorrow!! At least £6k to be OPed and then I finally get to enter it on my spreadsheet and see how many months that knocks off.

NorthernMonkey1

The price is based on the current share price minus 20%, so if the share price remains constant, then I'll come out with £22500 from £18000 investment.

And because it comes out my paycheck, I don't see it, any money I don't see isn't real money at all, because it was never there.

Thats my flawed logic, and I'm sticking to it

choccielover

Sounds like fantastic logic to me.similar to eating his chips being calorie free as they aren't on my plate !!:)

NorthernMonkey1

That's silly. Everyone knows that other people's chips have calories in them.

Except on Fridays. Calorie free Friday means you can have as many chips as you like on a Friday safe in the knowledge that they are calorie free because it's the last day of work.

choccielover

dammit, so that's where I have been going wrong all these years!!

choccielover

Awwww I think it's starting to hit home with Hubster, he sold the iPhone and suggested we put the money against the mortgage (that's what was happening anyway but nevertheless.....) such a proud moment in the Choc household.

We may stay sub £180k by the skin of our teeth

Chocs

pinkteapot

Had it in my head that the interest on our maturing savers would be a few hundred quid, but it was only £154. Ah well. And in the end I had to keep £400 back as we've just had unexpected vet bills, so had to keep back the interest plus a little bit of what we'd put away.

But still...

Just OPed £7,254, which knocked 14 months and £5,346 in interest off the mortgage!!! And it took the balance below the £220k mark - I love passing £10k boundaries.

Happy Friday!! :j:j:j

turtlemoose

well done teapot!

Today is payday so I'm off to do my money shuffle....

pinkteapot

Woohoo, turtle! I love the end of the month - paydays and OPs.