New Diary, New Start-mortgage be gone

tattycath

Luckyinlife wrote: »

Well done on adding £100 to each cath :]

I think you need a coffee im on my second one now this morning and i know the rugby is on later so plan a hour or 2 out then come and chill watch that all day haha

Thanks Lil, yes, coffee sounds like a plan.
I've just been number crunching and I'm expecting to hit my EF target early next month! :j
Then I need to set a bigger target! ...

Luckyinlife

tattycath wrote: »

Thanks Lil, yes, coffee sounds like a plan.
I've just been number crunching and I'm expecting to hit my EF target early next month! :j
Then I need to set a bigger target! ...

Ohhh thats great :] I would say have a long term goal in mind say8-10k then short term achievable goal within 2-3 months this way you have a long term aim and short term :]

What would you use the ef for if you ever need to cath ?

tattycath

Luckyinlife wrote: »

Ohhh thats great :] I would say have a long term goal in mind say8-10k then short term achievable goal within 2-3 months this way you have a long term aim and short term :]

What would you use the ef for if you ever need to cath ?

Sounds like a plan. Ideally I'd like to just build it up to as much as I can. I think my next mini target will be to double the 2k to 4k-eventually building it up to 10k. The length of time it will take to achieve this is debatable -depends on the business.
Not sure yet, we need some electrical work doing and the meter needs changing and moving...hoping I can save up for that without touching the EF but I got a quote about 4 years ago from BG and they quoted £1100. So I really need to get hold of an Independent electrician ( or a small firm) and get an up to date quote ( hopefully much cheaper too).
What I'd really like to do with some of the emergency fund (once it's big enough), would be to use some of it to overpay the mortgage to get rid of it quicker.

ourcornercottage

Even a small OP makes a difference. When I started i just used to OP to set the mortgage to round down to nearest £100, then I changed my DD to a higher amount and rounded down. Now I'm maxing my OPs to what I can afford each month.

I'm glad I started early with those small OPs as I know all those pennies and pounds paid then make a difference now.

What I'm trying to say is that anything you can do now even a few £'s make all the difference. For example I send all rewards (Halifax) and cashback (quidco and TCB) to the mortgage some people also use their interest earned on savings although I leaf this where it is. Id say I will have OPed £500 by the end of this year with free money.

tattycath

ourcornercottage wrote: »

Even a small OP makes a difference. When I started i just used to OP to set the mortgage to round down to nearest £100, then I changed my DD to a higher amount and rounded down. Now I'm maxing my OPs to what I can afford each month.

I'm glad I started early with those small OPs as I know all those pennies and pounds paid then make a difference now.

What I'm trying to say is that anything you can do now even a few £'s make all the difference. For example I send all rewards (Halifax) and cashback (quidco and TCB) to the mortgage some people also use their interest earned on savings although I leaf this where it is. Id say I will have OPed £500 by the end of this year with free money.

Thanks for popping in OCC
Wow! That's brilliant £500 overpayments with free money.
You've achieved so much and your overpayments over the year are great! :T
I did make small overpayments a couple of years back when I was doing the make a payment a day challenge. I now try to make bigger payments. Ideally I would like to pay an extra £700 a month-as I have since I started this diary. Realistically, I will be quite happy if I achieve an average of £500 extra a month. That reminds me, I need to sort some more listings out to go on the bay, but not before I've sorted my accounts.

A_Frayed_Knot

Hi,

just thought I would pop in and have a read and get some inspiration. Your doing great with all the "pots" o/p and ef.:j

I notice as soon as you have/receive/find some extra monies you pay & save straight away, maybe this is what I should be doing instead of waiting till the next monthly mortgage payment comes off, then I round it down, then o/p some. Have a lump sum to o/p this month, but waiting to see what my interest is as this is the first month i'm in a new deal. Then o/p. But believe me this month has to be the longest - ever.

Noticed you mentioned listing, check to see if you have the special offer that I received late last night.
25% all final value fees on the next 30 listings which are free to list. All helps.:D

tattycath

A_Frayed_Knot wrote: »

Hi,

just thought I would pop in and have a read and get some inspiration. Your doing great with all the "pots" o/p and ef.:j

I notice as soon as you have/receive/find some extra monies you pay & save straight away, maybe this is what I should be doing instead of waiting till the next monthly mortgage payment comes off, then I round it down, then o/p some. Have a lump sum to o/p this month, but waiting to see what my interest is as this is the first month i'm in a new deal. Then o/p. But believe me this month has to be the longest - ever.

Noticed you mentioned listing, check to see if you have the special offer that I received late last night.
25% all final value fees on the next 30 listings which are free to list. All helps.:D

Hi, that's for stopping by. :wave:
Are you familiar with Tilly tidies? Tilly has a diary on the mortgage free wannabe board and we all stole her idea. Lol if ( for example) you have £437.22 I your current account, you move the oddments into savings. This would mean you've saved an extra 22p and Tilly tidied your current account. If I an afford it, I would move the £7.22 into savings and I call this a Tilly tidy deluxe!
Tilly explains it much better than I do. It's a great way of inching your savings up with little effort.
I checked and I haven't been given the offer for listings. never mind, I will get some more up anyway. Thanks for the heads up though, I will keep checking.
Yes, I try to pay monies off mortgage and or into EF as soon as I can, then it's gone and I can't waste it on rubbish.
I don't think I will are as many inroads next month as I have to start saving more for tax bill.
Right, better finish my cuppa and start again on paperwork.

Luckyinlife

tattycath wrote: »

Sounds like a plan. Ideally I'd like to just build it up to as much as I can. I think my next mini target will be to double the 2k to 4k-eventually building it up to 10k. The length of time it will take to achieve this is debatable -depends on the business.
Not sure yet, we need some electrical work doing and the meter needs changing and moving...hoping I can save up for that without touching the EF but I got a quote about 4 years ago from BG and they quoted £1100. So I really need to get hold of an Independent electrician ( or a small firm) and get an up to date quote ( hopefully much cheaper too).
What I'd really like to do with some of the emergency fund (once it's big enough), would be to use some of it to overpay the mortgage to get rid of it quicker.

Ya i totally get what you mean few years back i was stuck on 500-1000 for ages due to situations in my life at the time which i was still even back then really happy with 1k EF
Ya that will be a wight off your mind as well somethings are priced up the price they are and not much can be done hopefully youll get it cheaper tho much cheaper
Ya thats it aint it pay your 10% per year then save would be a great idea long term

We must enjoy the this way of life to much i guess haha

cookie9

Well done on getting your EF through the £1500 barrier. We used a lot of ours up on the house but are slowly building it back up again.

tattycath

cookie9 wrote: »

Well done on getting your EF through the £1500 barrier. We used a lot of ours up on the house but are slowly building it back up again.

Hi cookie, yes, we need to do loads to the house. Not sure how I'm finding it all as yet. I am hoping to build up my Emergency fund and get stuff done to the house as and when we can afford it. Which is partly why I need to sell loads of stuff.