Learning to live within my means

savingholmes

Thanks. I've sent you a PM. If you love it - please leave a review once you're read it and spread the word. I appreciate your encouragement.

astrocytic_kitten

Well, MSE, I have some news…I’m now debt free! Or at least I will be once the payment I’ve made today clears. 

The reason - remember the £53 overpayment that was applied to savings rather than the loan and took a massive faff to sort? The EXACT same problem happened again, this time I triple checked what I did and it was definitely their error not mine, and I felt so annoyed I decided to use some of my emergency fund to clear it once and for all. I still have a 4 month emergency fund left, it will save on interest, and it will mean I don’t spend any more time on hold because stuff can only be sorted on the phone (there’s been loads of problems with making loan overpayments online, only the people on the phone seem able to apply it properly, and there’s always a huge wait to talk to someone).

Hasn’t sunk in yet, if anything I feel slightly anxious 😬 First priority is definitely paying my savings back and getting up to 6m emergency fund, first for current expenses then for a planned higher mortgage payment after I move. 

Four_Seasons

congratulations!! you will soon get your emergency fund back up, very well done x

IzzyBee

Congratulations 

astrocytic_kitten

Thanks @Four_Seasons and @IzzyBee! While I was on a roll I also finally got round to phoning up my mortgage lender to answer all my questions about overpayments. An incredibly kind woman quickly realised I didn’t have the first clue and took me through everything without making me feel stupid - I wish I’d caught her name so I could send her some good feedback. I’ve made a tiny £2 overpayment as a test and I’m just waiting for the internet banking details to come through in the post to check it’s gone to the right place 😂 I don’t plan to overpay the mortgage till I’ve got the emergency fund sorted but I’ve been meaning to phone them up for several months so it’s good to get it done.

welshspendthrift

Congratulations and well done great achievement 😀

IzzyBee

You are doing really well keep going 

Sarahwithlove

That's fantastic well done and I would have done the same thing. You still have a good emergency fund in place if anything we're to happen so you haven't left yourself with nothing. Once you get it sorted mortgage overpayments are actually relatively easy it's just getting the initial bit sorted and finding out account numbers etc. 

savingholmes

Fabulous. Well done you. Hope you are dancing!!! 

redofromstart

hurrah - that is brilliant news!
I didn't do mortgage overpayments for years because it was too complicated and not visible so its not just you.