New but not new - Year 1 of 5!

Betterthanever

Hi KM! I remember you too!! I'm doing a bit of both....I shall be overpaying the allowed 10% each year but am also building up a bit of a savings pot as I don't have one. I have spent all my last few years surplus on the kids, the divorce, and then on the wedding!! DJ has savings so it's not like we have no emergency provision, bit I'd quite like to have a reserve of my own too. At the end of the 5 year fixed term, it can then be used to clear the balance of the mortgage without penalty, and will hopefully also allow a couple of decent holidays then too.

And of course, it's just a security thing. Not just for me but for the kids.....at the moment the Bank of mum isn't full of spare funds!!

Keeping_Motivated

Sounds like a good plan and you deserve to feel the benefit of that security after all your hard work over the years to keep the family afloat!

So I take it you've decided to switch to a 5 year fix? I've just decided on a 2 year fix its a gamble i guess.

Betterthanever

Yup, a five year fix will hopefully take me to the end of the mortgage so it seems a good target for me to work to. I certainly can't see deals being any better than they are now, so I may as well fix for as long as I can. Plus, it gives me that certainty of knowing what is coming out of my bank account every month, which makes producing a mega spreadsheet for the 5 years much easier!


But I've not yet got it......they won't let me arrange it for another few weeks, so rates could yet go up.....

Betterthanever

And another £5 requested from SB....plus a £50 win on a bingo sign up....had to wager through and got lucky so swipes that straight back into my bank account before I could be tempted to play again! That's October's challenge target met already....it will be exciting to see how much I get in total for the month now!!

pinkypig

I hadn't realised that are goals are so aligned. My target was £112,000 in 7 years so I have the option of early retirement but then I started my diary, my addiction took hold and I'm now going for 5 years:rotfl:
Looking forward to crossing the finishing line with you :beer:

PP x

Betterthanever

Race ya, pinkypig!!

Betterthanever

So.....£1.25 cashback requested from quidco this morning, a £3 reward in my current account, a whole 35p interest elsewhere and £1.80 saved on bus fare as I got a lift with a neighbour to work.


It's a start!

beanielou

A blooming good start :j

Karmacat

And thats what we mean when we say the little things add up! Yay! I'm waiting for my Asda order to arrive, so I might do a monthly stocktake of dosh. Watch this space (well, that space, over there, you know the one ).

beanielou

How do you find Asda online Karmcat?