Pocket Poor

Pocket_poor

Hi everyone,

Setting up my diary, ready for 2020:

We are a family of 3, me, hubby, daughter, plus our beloved pooch. The plan is to pay off our mortgage over the next couple of years. Balance as of today is,
£52731.00.

We are getting our plans in place and will update on here to stop me straying and spending my money on nice dresses.

Pocket poor X

newgirly

Hi and welcome

Moneyfordreams

sounds like a good plan

AnotherJoe

Moneyfordreams wrote: »

sounds like a good plan

Sounds like a poor plan. If you can pay that much off hubbie must be a high rate tax payer in which case you are losing thousands, possibly tens of thousands, of pounds in tax relief that may not be available in a few years time.

Accountant_Kerry

AnotherJoe wrote: »

Sounds like a poor plan. If you can pay that much off hubbie must be a high rate tax payer in which case you are losing thousands, possibly tens of thousands, of pounds in tax relief that may not be available in a few years time.

I presume you mean by not paying into a pension??

Pocket_poor

Evening

Thanks for taking the time to post on my diary.

At the moment paying of our mortgage is our priority, once this has been cleared we will then focus on our pensions.

We want the security of owning our own home sooner rather than later, I think everyone’s financial goals differ due to personal reasons.

Pocket poor X

LeighofMar

Welcome with your new diary. 5 years sounds like a wonderful goal and how exciting it will feel to own your home outright and then concentrate on your next goals and so on.

AnotherJoe

Accountant_Kerry wrote: »

I presume you mean by not paying into a pension??

Yes exactly.

AnotherJoe

Pocket_poor wrote: »

Evening

Thanks for taking the time to post on my diary.

At the moment paying of our mortgage is our priority, once this has been cleared we will then focus on our pensions.

We want the security of owning our own home sooner rather than later, I think everyone’s financial goals differ due to personal reasons.

Pocket poor X

By which time high rate relief will likely have been removed

Pocket_poor

Thanks for the welcome!

We are aiming to clear our mortgage by May 2022. This is when our Fixed deal expires.

It will be a push but willing to give it a go

Pocket poor X

MrsLovely

Good luck! I too am planning on getting rid of my £59k mortgage in next 2 years. Like you, it's our priority too. will be following.
Mrs Lovely x