Onwards and downwards...

HairyHandofDartmoor

jwil wrote: »

Today's pads:

£1.87 to Mortgage
£1.00 to debt savings
£0.35 to em savings


Debt savings - [STRIKE]£19,320[/STRIKE]/£18,175 - £1145 paid :T

1 parcel posted today.

How do you calculate the amounts for your daily PADs? It's been puzzling me for ages

lindez

Hi jwil, I came across your diary. You have done amazingly well congratulations. I need to take your enthusiasm for de-cluttering and moving forwards with your debts on board. Thank you for sharing your diary.

jwil

HairyHandofDartmoor wrote: »

How do you calculate the amounts for your daily PADs? It's been puzzling me for ages

The mortgage is rounding down the account - interest is added daily, so I check my balance each time I'm doing a PAD and round it down. My interest is currently £6.87 a day, so I round down the £1.87 as I can't afford to do the whole interest amount (I'd love to though!). It obviously varies a bit if I've missed a day or two.

Then I look at what I've got left available to PAD, generally rounding my bank account down to the nearest £5. I send whole £s over to the debt savings, and then the odd £ and pence to the emergency savings.

lindez wrote: »

Hi jwil, I came across your diary. You have done amazingly well congratulations. I need to take your enthusiasm for de-cluttering and moving forwards with your debts on board. Thank you for sharing your diary.

Hi lindez, thanks for popping in Do stay around. Do you have a diary?

jwil

Today's pads:

£1.87 to Mortgage
£1.00 to debt savings
£1.16 to em savings


Debt savings - [STRIKE]£19,320[/STRIKE]/£18,174 - £1146 paid :T

jwil

Spotted that all the Shetland books are on offer on kindle for 99p today. So I have bought the rest of the series I must have had a kindle credit as I haven't had to pay for all of them so even better :T :T

HairyHandofDartmoor

jwil wrote: »

The mortgage is rounding down the account - interest is added daily, so I check my balance each time I'm doing a PAD and round it down. My interest is currently £6.87 a day, so I round down the £1.87 as I can't afford to do the whole interest amount (I'd love to though!). It obviously varies a bit if I've missed a day or two.

Then I look at what I've got left available to PAD, generally rounding my bank account down to the nearest £5. I send whole £s over to the debt savings, and then the odd £ and pence to the emergency savings.

Thanks Jwil that's very interesting. I'm tempted to start mortgage PADs myself.

HairyHandofDartmoor

The Shetland books are really good and not paying for them is even better

redofromstart

I do love it when kindle credit covers my purchases.

Love the logic on the PADs. I like tidying to round numbers so the mortgage goes down once a month to the biggest whole number I can afford, and then whatever I have left rounds up the savings pots to a whole number so its the actual current account that isn't a whole number. I have yet to buy something specifically to round that account but I have been tempted Actually I might start doing the odds and sods to the boys savings as I can't see those

jwil

HairyHandofDartmoor wrote: »

Thanks Jwil that's very interesting. I'm tempted to start mortgage PADs myself.

I'd love to clear the mortgage, so doing it this way just means I don't notice the small amounts. If I manage to do it every day, it's almost £60 a month :T

HairyHandofDartmoor wrote: »

The Shetland books are really good and not paying for them is even better

I'm looking forward to reading them, I loved the series.

redofromstart wrote: »

I do love it when kindle credit covers my purchases.

Love the logic on the PADs. I like tidying to round numbers so the mortgage goes down once a month to the biggest whole number I can afford, and then whatever I have left rounds up the savings pots to a whole number so its the actual current account that isn't a whole number. I have yet to buy something specifically to round that account but I have been tempted Actually I might start doing the odds and sods to the boys savings as I can't see those

Even better when you didn't realise you had any credit :T

I've spent so much time trying to figure out which account should be a whole number :rotfl: I've finally got to a stage where I'm happy with it. I like my current account to be a whole number. I do get tempted to spend to mean I've got something to round down, but I don't Once I do the mortgage overpayment, there's always 'change' to round down anyway.

I never see the mortgage as a whole number as by the time I log in the next day the interest has been added again, but I know it's going down.

jwil

We've had a nice day today. DH wanted to go in town so I took the kids to a soft play cafe which they love.

Came home and the sun came out :T So they've been out in the garden all afternoon, and I've been sitting in the sun with a book :cool2:

Still working my way through my Russian history books at the moment, only a few to go now. It's really interesting reading from all the different perspectives and also with the knowledge that they finally found and identified the bones of all members of the Imperial Family.

If I ever win super big on the Euromillions, like £180 million or something, I'm definitely going to try and buy a Faberge egg