Excited to try and be mortgage free

hiddenshadow

Your daily interest is definitely wrong. Looks like you're off by a decimal place.

2.5% of £47,942.65 is £1198.57. Divide that by 365 days you get £3.28/day (£3.27 if you account for 366 days this year)

chumpy45

Phew thank heavens for that Hidden Shadow - I really shouldn't be allowed out on my own with a calculator I didn't think it could be right after looking at other people's calculations, but I thought I was following the instructions so carefully :rotfl: No wonder I am not mortgage free !!!

Petal88

haha chumpy I second hiddenshadow - your daily interest is £3.28

edit: woops I wrote this before you had replied!

chumpy45

Phew thank heavens for that Hidden Shadow - I really shouldn't be allowed out on my own with a calculator I didn't think it could be right after looking at other people's calculations, but I thought I was following the instructions so carefully :rotfl: No wonder I am not mortgage free !!!

chumpy45

Well my first week of Tilly Tidy stands at £3.17 which is brilliant :j Have just made a big batch of butternut squash and sweet potato soup which is simmering away nicely and should be ready for lunch, and then lots left over for the freezer Have been having a sneaky look at the local property pages and have seen a lovely property which would be downsizing from what we have now and which we would hopefully be able to afford without a mortgage. As two of the 4 DSs are now away at Uni with the 3rd DS joining them this year, it is definitely a plan to consider. Will be discussing this with DH later. Have done two loads of washing, about to do the third, hoovered, mopped and emptied the bins. Am trying to gather energy to tackle our coat cupboard, which is of the "open the door, throw it in, and close door quickly" variety :rotfl: Hopefully, I can make some inroads into improving it a little. Have a good weekend everyone.

hiddenshadow

Ooh, downsize! Very exciting. DH and I are still baffled that BIL/SIL did a lateral move a year ago (same number of rooms, slightly smaller house but better layout) and they're now extending it! Their oldest has graduated uni (not sure if he's completely moved out though :rotfl:), their second will start in a year, and their youngest only has 4 years to go...I would have downsized like crazy if I were them, not doubled my house costs. To each their own, though.

chumpy45

A nice little TT of 40p to kick off Sunday morning. Followed by a little bit of spreadsheet fiddling - as you do Have set up a SO of £10/month to my cash ISA which has been sadly neglected. This will be the start of an EF (currently stands at £600). Am also starting to give some thought to DS4. As of September, we will be supporting DS1, 2 and 3 at University :eek: and whilst DS4 is currently only 12 (13 in a couple of months), I think we should be giving some thought to financing his Uni. DS4 was a late baby and our years of employment are ticking away almost co-inciding with his start at Uni! Am thinking about taking his child benefit out of the daily household budget and directing it to a savings account of some kind just for him. He does have a junior Sandy123 account which pays 3% so it could go there (but will have to ensure it is not touched or spent :rotfl:) Will have to suggest this to DS a bit later and see what he thinks. Right then, off to prepare roasties and stuffing. Hot water on for the imminent arrival of DS4 back from Sunday footie. Looking at the sky outside, they could well be very, very wet. Happy Sunday everyone.

chumpy45

Have been taking advice from :money: and am now considering opening a Junior ISA for DS4 - best top rate currently 3.25% but I need to hold an account with the provider. I am sure I have an old passbook somewhere with this provider with a couple of pounds in it, but of course now I need to find it - it is nowhere to be seen :mad: Will follow DH's mantra which is that if you look in the same place enough times it will appear :rotfl: I can then transfer the balance from DS4's CTF which is currently not doing very much at all and tidy up the whole process nicely. Now if I could just find that passbook ............

hiddenshadow

Our rule tends to be that if 5 minutes after you buy a replacement or find a workaround, you find the item.

chumpy45

Haha yes - familiar with that one too - needless to say I am still looking