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Update Paid off! - Six years and counting!!

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  • greent
    greent Posts: 10,711 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Fab news the student loan has now gone! :T - are you going to OP the money going forward? :)
    I am the master of my fate; I am the captain of my soul
    Repaid mtge early (orig 11/25) 01/09 £124616 01/11 £89873 01/13 £52546 01/15 £12133 07/15 £NIL
    Net sales 2024: £20
  • Good luck in your plan!! With good budgeting, you will defo get thete ��
    Mortgage When Started Over Pay 01/11/2017- £146,500
    Current Total - 10/02/2022 - £6,500 (With Offset
    £10k Savings)
    5 year fix
    MFW hopefully by March 2022
    01/11/17 - £10k / £10k Emergency Savings :beer:
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Fab news the student loan has now gone! - are you going to OP the money going forward?

    I'd love to but I need to build our emergency fund back up first. I think I'll EF the first four months and then up the overpayments from August onwards.

    We could really do with a few months without appliances breaking down and extra car expenses. Our car tax for both cars and breakdown cover always falls due in January, right when we are trying to get back on track after the expense of Xmas. This year I am saving about £60 each month in our M&S regular saver so that it matures in January to cover those extras, so should be better next year. :T
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Quite a few spends over the weekend but not too bad. ..
    Took DD2 to a free art gallery while DD1 had cricket coaching. Felt a little guilty that I didn't put a donation in but I did buy an overpriced Mother's Day card at the shop. Also signed DD2 up for an art workshop session there for a few weeks time. Only £7 for a 1.5hr session which seemed a good price, especially as it includes materials.

    Had an unexpected fabulous night on Saturday. I was given a free ticket for Blue Planet live and just had to pay my parking (£12 ouch!). I tried to pay for my ticket but the people I went with wouldn't take the money. However, I feel I should make a donation to a relevant ocean charity as a thank you.

    On Sunday, we went to the see our local ladies football team in the FA cup quarter finals. We narrowly lost but it was a great match, a good crowd and a super atmosphere. It was also only £14 for a family entry plus £2 for a programme. We didn't buy a programme initially but decided that we wanted to know more about the players as they were brilliant role models for our daughters. We resisted cups of coffee to warm us up at half time and a Toby Carvery on the way home. I cooked a Sunday dinner at home instead.

    Planned spends today - weekly food shop.
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Good news this morning - had an eye test and was sure that I would need a first pair of varifocals but the optometrist said that I'm OK for now. So I see that as lots of money saved. DH has his test booked for this afternoon so we'll have to see if he needs new ones.

    Had another giganormous credit card bill this month, just over £2000 again. We will be able to pay it off in full as usual but it stops us being able to build the emergency fund back up. Hopefully this month will be cheaper - only big planned spends are the service on my car and DHs new glasses.

    Need to take DD2 for new shoes after school so that'll be another £40ish. We are seeing friends on Sunday to go to a concert (our Christmas present to them) but rather than take them out for pizza (we have run out of Tesco Clubcard vouchers) I am going to buy pizzas and cook them at home. I would have liked to do homemade but I don't have time.
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    DH and I have both been paid this week and I had some overtime on mine, which all helps. I won't be able to fit in anymore paid overtime now until the cricket season and school summer holidays are over. DD1 will often be playing 5 matches per week so life is about to get very busy again after Easter. I still haven't had time to go through the February credit card spends and now it is the end of March. I must try to fit it in at some point. I'm not working today but have a very long to-do list, including getting washing on the line, posting a mother's day present, taking some donated items up to school for the PTFA, collecting DD2s glasses and getting the house tidy, hoovered and all the washing put away.
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Managed to get everything done except for the hoovering. Have made our monthly payment to the mortgage £690 and opened up a new Nationwide Regular Saver as our old one matured today. Only £57.78 interest this year but better than nothing.
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    Have been reading the thread on here about whether it is financially sound to overpay the mortgage. I definitely want to keep overpaying to clear it early and definitely don't want to tie up our savings into pensions.

    But I am thinking about the summer onwards when, hopefully, we'll be able to overpay an extra £250 per month (redirected from finished parental loan for car and student loan). I think that when our First Direct Regular Saver 5% matures (holiday savings) and I open a new one, I am going to fill that with £250 every month and consider it our mortgage overpayment. Then when that matures in April 2020, I can pay a lump sum of £3000 onto the mortgage.

    Only thing to consider is that, as we are on an interest only mortgage, all our capital repayment is treated as an overpayment by the mortgage company. We can pay off a maximum of £11 800 per year. Our monthly capital repayment will be £690 + £250 = £940 so an annual total of £11 280.

    That's my new plan anyway. :j
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • Kat78MFW
    Kat78MFW Posts: 287 Forumite
    Eighth Anniversary 100 Posts Name Dropper
    edited 29 March 2019 at 5:56PM
    Have restarted doing Prolific Academic - did a study today that earnt £4.10 for about 20 mins. I've got a balance of £16 in there already. I'd love to keep saving the balance in there as our Xmas fund but I'm wary just in case the company went bust and I lose it all. I guess it makes more sense to withdraw it and put it in a high interest savings account. Might do that now.
    Edit - have to pay a fee if you cash out under £20 so will wait until I've bumped it up a bit further.
    MFW since March 2019Mortgage-free 30th June 2023
    My Budget and Savings Diary https://forums.moneysavingexpert.com/discussion/6543308/making-a-budget-and-sticking-to-it#latest
  • ElmoR
    ElmoR Posts: 409 Forumite
    Ninth Anniversary 100 Posts Name Dropper
    Just popping in to say I've subscribed to your thread and following with interest :)
    ElmoR
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