Cutting it Fine - the challenge is on!

caeler

I'm about to enjoy a coffee too! @SandyShores I'm back from another run, only 3km, but I think its more important I'm heading out and when it feels good I change up my routes and end up going out further anyway.

SandyShores

That's so true @caeler any run is a good run.  I find that if I get my running stuff ready the night before, I don't even hesitate.  And I definitely enjoy my coffee so much more after a run - its a lovely feeling, no matter what the distance or pace.

SandyShores

I've removed the ToDo list from my signature.  Completed 1, and have 3 more to complete this afternoon as soon as I can get out after my delivery has been.  The remaining 3 things have been shifted to my other lists to be done once the shops are open again (and they won't stop me getting on with the other things I need to do).

My signature is now my ToDo list reminder.  Home and paying off the mortgage is the priority, followed by family and saving, then health (weightloss and getting fit) and then finally work/study/learning and/or getting a sideline.  Anything else is definitely the icing on the cake.  🎂🎂🎂🎂

SandyShores

Delivery didn't come until late in the afternoon so I had a quick trip to Sainsbugs after 6.  Lots of yellow sticker items so a few bargains for the freezer (£9 of stuff for less than 90p) and the total bill was under £10.  HM Veg soup for dinner - used most of the veg from my HM chicken soup recipe which is leek, potatoes, carrots, flour, brocolli, green beans, veg. stock - together with yellow sticker sour dough paver.  Bonus nectar points flashed up when I was walking round using the smartshop app - 370 points which I think is £1.85.  Bargainous shop today - although it irked me that the Kenco Latte sachets were £2 - and they are £1.50 in Asda (guess you win some, you lose some).  Looking forward to lockdown easing off - a few weeks to go yet, but hopefully they will pass quickly. 

savingholmes

Sounds like some great bargains

SandyShores

It really was SH, and a nice surprise as I wasn't expecting it.  Even better when I looked at my receipt again this morning and discovered the Lattes had come up at £1.50, which was loads better than the shelf price of £2  This morning I need to go out and get those ToDo items done, then call in to get some mince. 

Quick look at the mortgage account earlier showed interest added this morning as £11.93 - very nice to see it under £12/day.  I suppose it just keeps coming down as our equity goes up.  I've worked out that after April's payment another 1% of the house will belong to us (approx. every 3 payments currently gives us 1% equity).  Can't wait to start proper overpayments to see the daily interest come down even more and the equity go up.  I think I might have to draw up one of those sheets with 100 squares on it and mark off the equity.  I could allocate the squares to the rooms/garden/garage - I wish I'd played this game back in my 20's when I had my first house, but I suspect I had different targets back then .

Just popping back to report that I have been out and eaten those frogs (ToDo items).   It was a bit of a faff but all done now, and won't be niggling me any longer.

savingholmes

Well done on the frogs and OPs. We will start tackling our mortgage come June

SandyShores

Thank you SH, its good to have turned a slight corner - onwards and upwards.  I'm really looking forward to tackling the mortgage so I'll follow along with you for motivation.

SandyShores

Morning all.  Just logged into the mortgage account today and the interest has gone up by a penny to £11.94.  LBM, the interest is added daily so of course the total amount owed goes up daily, therefore the interest will also increase daily.  So.... the new plan is to calculate the highest daily interest by checking the difference on the balance on consecutive last day/first day of the month.  Then multiply that figure by the number of days in the new month to get total interest for the month.  Subtract the resulting figure, e.g. £360, from the regular monthly payment (which is around £1270), e.g. £910 and then subtract that figure from the £1k I'm aiming for (in this example the result would be £90).  But whatever the result is I will then make that as overpayment on the 1st of the month which, together with my regular payment, will result in the mortgage being £1k reduced by the end of month (as all the daily interest will have been paid in advance).

This means that, rather than trying to keep zeros at the end of the mortgage, I will just be aiming to reduce the mortgage by a full £1k every month.  I can still make extra overpayments, but if I'm not worried about the zeros at the end any longer, I can pay any amount.  I feel like I have that straight in my head now, which is good because the 1% chart will probably throw up different amounts to aim for as well.

caeler

I never started with the rounding up, daily interest ruins that! I do however like you have a spreadsheet showing me daily interest so I know what what be added each month.I think it is quite powerful to know how much of your payment is actually paying off the capital.