Project Mortgage Neutral Begins

ajmoney

My contract with $ky comes to an end soon so I am looking at the different option for broadband and tv, although I might ditch the tv. Does anyone have any recommendations for companies?

ajmoney

I have been doing a few calculations as, even though I am now focusing on saving rather than OPing, I am still kind of trying to do everything.

My calculations may be flawed as interest rates may change and my daily mortgage interest won't stay at its current amount but I wanted to get a rough idea of where I would be with savings vs the mortgage when I renew in July 2025. I think they are as follows for the end of June:

Mortgage total £57886.37

Savings total £52382.99

Very interesting! For the savings calculation I have added the amount I currently save per month into my standard account but kept the S&S ISA total the same because that could go eith way between now and then. I save £250 a month into it so if I went up by that total and I diidn't make any gains, I may be mortgage neutral at remortgage time. EEEEEK

This clearly needs to be my focus and shows why saving is going to be far more beneficial that OPing, although I will continue to OP the interest that accrues each month.

ajmoney

Money shuffle done. I am glad I simplified everything a year or so ago but I keep feeling I have missed something!

My S&S ISA has dropped a little in the last month but overall I am up and that is all that matters. I have been able to colour another couple of squares in on my house and am £26k away from mortgage neutral.

ajmoney

I am back to that feeling that I am not doing enough so I have revisited the goals I set for 2023. I have already hit both the savings ones and will probably end up £1600 ish away from the mortgage one but seeing as I have changed my focus to a savings one I am happy with this.

This month I am going to try and keep a note of my food, petrol and other spend costs so I can make sure that my budget is reflecting reality. I doubt I can shave much off the fuel budget but I may be able to work on the food one.

ajmoney

Day one back at my old/new job today. I don't think it was as bad as I feared but I am unsure how I feel about it all at the moment. The good thing is I won't have any responsibility for a week or so, so I can take the time to adjust and settle in a bit.

Rather than sit on the sofa when I got in, I went straight outside to do some gardening. My garden will take a lot more than an hour, but it is surprising what I got done in that time.

Watty1

You are very close to mortgage neutral. What a fantastic place to be!

ajmoney

Ever since I came back from working down south last month I have felt like I am on the edge of change. I don't know how comfortable I am in my job coming back here as I don't feel I have as much purpose but I am seeking to look further afield for things I can do while not changing my job for now. I am looking at my pension prospects and other things I can potentially learn to help any future employment though as I don't intend to work in this field after the next 4 years. I need a plan here!

Those of you who have been with me for a while will know that, whilst my ex-husband and I separated nearly 5 years ago and divorced last year, things have always been amicable. The nature of our relationship and closeness has slowly changed and last weekend he dropped the bombshell that he wants to cease all communication. While I have been expecting it, it has still come as quite a shock. He has clearly been planning this for a while, moving his motorbikes etc from my garage so this is an easier move for him. I know I have some of his stuff (in the filing cabinet from when we moved) in the house so I need to organise that and get it to him. Most I think I can probably shred but I know there are some senitmental things there, I am summoning up the courage to do this. Nothing has really changed and yet it feels like the whole world has shifted. The separation was my doing and it was the right thing to do, I really do need to find my own way in the world now as I have probably been guilty of living in limbo for far too long. The move last weekend from him has taught be an awful lot in a very short space of time!

The house. It has been a source of stress for me trying to get things sorted but I really do need to get moving on this. I don't know if I will stay here for too long as I have the niggling feeling that the house is too big for me. It is great when my family come to stay but it doesn't happen that often really. I am currently sorting through everything trying to be ruthless so I can see how much space I really do need and whether rooms can be organised for something else.

With what feels like a lot of potential change on the horizon it feels quite unsettling and overwhelming but I can no longer keep my feet in two camps. I need to make some decisions either way. I always need all my ducks in a row to make a decision and while that is not always possible I need to at least put some things in place to make some progress for my own sanity and enjoyment in life.

The only constant is I am still OPing as I have done from so early in my mortgage life. That has always been my thing and while the plan has changed more in favour of saving I am still striving to get rid of my mortgage to give me some financial freedom to do what I want.

ajmoney

I have been wondering recently whether I should adopt the use of Ms instead of Mrs. It really doesn't bother me but I can see how it could be confusing. I guess there is no right or wrong answer...something to think about! In an attempt to move on and grow, I will try not to think about it for too long

Watty1

It may turn out to be a good move from the ex for you. I was surprised and for a while envious of how you both kept things amicable and lived along together nicely yet not together.  

But being 'really separate' might help you look to the future and consider your "what nexts" really carefully.

Routing for you x

ajmoney

I have been concerned about a potential damp problem before I moved into my house in April 2019. The home report didn't mention anything so I assumed the musty smell was because the house had been shut up for nearly a year. I think the problem is between the back bedroom and bathroom but what and where I have no idea.

When I got home I checked the cheap little damp monitor I have and then put the dehumidifier on and it is gradually come down from 84%!!!!! I have sent a message to a company who will come and do a survey. It does mean I will probably need to dismantle the built in wardrobe so they have full access to what ever it is and that job will be easier said than done. Slowly I will get to the bottom of this problem and then hopefully I can look at decorating. I deserve to live in a lovely home!