Time to clear my only debt, the mortgage

richardmoore9

I got my expenseses back which was a welcome £360. I’ve decided to take the plunge and get a credit card to cover my expenses each month so it’s not comming out of my current account as the £360 was only for 2 weeks!

I must have a wonderful credit rating as I got accepted within minutes and given a £5200 credit limit but I should never need more than £1000.

I finished reading the early retirement extreme book. Very eye opening and has encouraged me more to work on a second income. I think any left over funds each month will be put into my stocks and shares isa to tick up.

One other bonus to this job is the hire car. As I keep getting different models I am starting to get to trial cars I would never bother with. Adds a little excitement never knowing what model I am getting each week.

richardmoore9

Another month down and another £500 overpaid. I actually ended up with a good dilemma to be in. I had a bit of money left over and I couldn’t decide wether or not to add it to mortgage.

On one hand the goal is to overpay but equally it presented an opportunity for a little investment for a second income which is a long term goal of mine. In the end I decided to put it into some income funds. As long I stick to my guns with the over payments I will reduce the amount I owe on my mortgage by 10%!

Also had a letter come through saying the mortgage is ending in 6 months on my fixed term. Hoping I can get a nice deal and maybe improve on the terms I have already. Need to sort that soon