Easter 2025 I’m coming to get you!

savingholmes

Hope you find a better solution

Hettyhound

This week I achieved another milestone; I have now paid off half my mortgage 🥳. The current balance is £39,956 and the starting balance was £79,950.  I am however already having to readjust this year’s financial plan.  I need to get some work completed in the house and also there are some purchases for the allotment; there’s no point in waiting 4 years for one and then not making good use of it. I had hoped to build up my savings a bit more but this will now have to wait until later in the year.  I’m also unsure how much the increased NI rate and reduced tax credits along with reduced childcare payments will end up being and I suppose I won’t really properly know until May time.  I have engaged a new plasterer and have an actual date in the diary.  I am also contemplating getting the construction materials and extra skirting now just in case prices increase any more.  I’ll leave the hardwood as this is cut to size so I really need to get the frame constructed before measuring up and I can’t do that until the plastering is done......

beanielou

Good idea to get the materials now as prices seem to just be going up, up 7 up.

savingholmes

Good luck with your projects. Sure they'll be great once done. You're right about making the most of your allotment now you have it too.

Hettyhound

Well hello people it’s been a while.  So still keeping afloat but not many overpayments made so that’s my focus for the next few months.  The study is finally plastered and I even managed to get the second coat of emulsion on the ceiling last night.  It’s a slow job mainly down to not having uninterrupted time due to working FT, looking after my son and keeping some form of order in the house.  Looking at the savings fund there should be enough left to finish off (more diy supplies and a carpet) and still maintain a £1k emergency fund so now I’m directing and spare £ to some overpayments.  I’ve had to get realistic and the main savings pot will not get anymore added to as I’m working on the mortgage interest rate is more than savings interest rate so direct it there.  My fixed deal ends on 31/12/22 and I had a quick look at the offers the other day with my current lender but all 2 year deals no 1 year ones so I’m going to go onto the standard rate (currently 3.79%) so I can chuck as much as I want in OP.  My target was to get down to £32k by the end of the year but given the world chaos I’ve revised this to £33.5k which I hope I can exceed.  I’ve started cancelling some DD, reduced my pots funds again and getting creative in the kitchen.  Tonight’s tea is going to be lasagna made with a mushroom and lentil filling which should also do my lunch tomorrow.  I’m going to do a bit of baking too for the freezer.  My kitchen current looks like a garden centre with things potted up ready for the polytunnel and greenhouse; another week and I can start to take them to the allotment.  I’ve got onions, broad beans and 2 lots of potatoes in and loads of seeds set off at home in my cold frames, lucky the allotment is so close.  Hope all is well with you 👋

savingholmes

Sounds like a good plan. Love that your kitchen is full of new life

Hettyhound

Just made an overpayment of £60; it all helps.  Payday tomorrow which will definitely help!  Still waiting for my council tax rebate as sadly I don’t appear to be one of the 48,500 households in my area that have already received it, possibly because my area name starts with a W 😂

badmemory

My council updated their website a couple of days ago to say they would be paying at some point during May or June.

savingholmes

Mine hasn't been paid yet either. My council says within 15-21 days of when first CT paid for 22/23 so should be within the next week of so for me. Your council may have an update on their website.

Hettyhound

I looked on Thursday and it said we should have it by the end of April and that they had paid out to 48,500 households already.  I’ve been on my banking today because it’s payday and still not there.  I’ll check again over the weekend ☹️