Kill the mortgage before 73!!

helejenkins1

So I finish off the day with £50 of Facebook sales. Money sitting in the drawer downstairs. I managed to get to 10,000 points and cash out on VPYR. I love this site, it’s easy and I can cash out regularly.

My nephew has been here for his annual visits. It’s more often than that but doesn’t feel like it. One of the reasons we are moving so that family can’t say we live to far away. He causes chaos, especially with out 1 year old lab. But on the bright side, he tires her out so we haven’t heard a peep tonight.

Kittenkirst

Great work on the fb sales!

helejenkins1

Never have I had 2 weeks off work that I’ve spent waiting to go back. I just want to get back so moving day comes quicker. I’m still waiting to hear back from my solicitor that all parties have signed soo that I can get on with selling bits and pieces of furniture that won’t be coming to the new house with us. I’m not doing anything until it’s 100%. Everyone says I’m one of the unluckiest people they know so I’m not jinxing this one.

Another £10 Facebook sale today and I took 20 kilos of clothes to cash for clothes. Only £10 but a lot of them were no good for a car boot or eBay and don’t want them hanging around till the move.

Went to our local Christmas shop. Saw a dancing Santa stuck in a chimney I really liked. The display one was the last one they had and they let me have it for £8 down from £50. I would have never paid £50 but wantsaying no for £8.

Hopefully we’ll get some good news on the house front tomorrow.

Traveller14

Hi Helen,
I am now 60 and have done this twice - it does work very effectively if it is reducing the capital left to pay.
Good luck😋 I really feel for young people today, it's such a tougher world now.

helejenkins1

Traveller14 wrote: »

Hi Helen,
I am now 60 and have done this twice - it does work very effectively if it is reducing the capital left to pay.
Good luck😋 I really feel for young people today, it's such a tougher world now.

Thank you. I know I should just be happy I’ve been able to get a mortgage in the first place when there are so many people out there that can’t even get on the property ladder

tori.k

Hi Helen
we are pretty much in the same boat, deciding to clear the mortgage rather than add to the pensions. The opportunities of freedom to change our lifestyle sooner if we wish is more appealing then a higher income at retirement age, I also work a very physical job and as much as I love it I can't imagine doing it into my 60's
Best of luck with the move

helejenkins1

Tori. I may be being naive but I’m thinking that if I can pay the mortgage off then I can use the money I would have been paying towards the mortgage to a pension saver instead. When I have built up a nice emergency fund, I do plan on putting money in a LISA. I need to open soon and pay in some small amounts as I’m not that far off 40.

Had an exciting couple of days. We officially exchanged yesterday and I had a text off nationwide this morning to say they were releasing the funds on December 5th. I started the ball rolling notifying utilities and found out I’ll be due a £266 refund from the council tax. Didn’t realise it would be that much.

I have started selling furniture and have sold £75 worth on Facebook the last couple of days. I also did 2 surveys on iPoll a total of £1.25.

House insurance had to be sorted for the new house now that we are exchanged. I went with b gas through Quidco for £50 cash back and the policy was only £123.00. So bargain!! Also paid it off in one with money I’ve made from selling so that’s one less direct debit. I couldn’t believe that moving to better area would make so much difference to the house insurance. Over £100 a year cheaper.

Dalradian

what you need to consider is that a pension get tax credits, plus will grow over time. So £1000 a month invested in a pension will pay back much more in 20 years than paying down a mortgage charging 2.5%- though maybe not as satifying.
Best work out a pension plan to work out what needs to be invested for when you want to retire (65? 60? 55?) and then overpay your mortgage on top of that.
Or have regular pension payment and any excess goes to mortgage.
It isn't sexy and not as rewarding, but financially, investing in areas that pay into your investments, or max out your tax free options might be a better initial investment.

helejenkins1

Dalradian wrote: »

what you need to consider is that a pension get tax credits, plus will grow over time. So £1000 a month invested in a pension will pay back much more in 20 years than paying down a mortgage charging 2.5%- though maybe not as satifying.
Best work out a pension plan to work out what needs to be invested for when you want to retire (65? 60? 55?) and then overpay your mortgage on top of that.
Or have regular pension payment and any excess goes to mortgage.
It isn't sexy and not as rewarding, but financially, investing in areas that pay into your investments, or max out your tax free options might be a better initial investment.

I’m not to worried about my pension. Myself and my husband both pay into a workplace pension. We pay in 4% and employer pays in 8% so 12% of our combined income is going towards our retirement.

Well today is my last day off before going back to work tomorrow. I can’t wait to go back to make the house move come sooner. So it means today is also the day we need to make sure we are fully prepared for the move.

I’ve done some more selling over the last couple of days so another £120 to the total. I also plan on doing some meal planning today. Our big American fridge freezer won’t fit in the new house and my MIL is having this one from us so we need to eat the contents before we move.

The plan is to start over paying the mortgage in January, just can’t wait now. Every day is dragging

[Deleted User]

helejenkins1 wrote: »

I’m not to worried about my pension. Myself and my husband both pay into a workplace pension. We pay in 4% and employer pays in 8% so 24% of our combined income is going towards our retirement.

Only 12% of your combined income is going in.

The percentage remains the same, regardless of the number of incomes.