Cutting it Fine - the challenge is on!

debtfreeoneday

Happy New Year!

Fortune_Smiles

Happy New Year!

Fortune x

SandyShores

Thank you Savings, Debt-Free and Fortune   

Well, here is 2022 and a Happy New Year to you all and everyone too!!

SandyShores

I've just posted a question on the Mortgage Board.  Should we pay off our H2B asap?  I think the answer is yes, but will be good to have some advice.

You can tell I've been looking at the mortgage projections this morning.  Adding H2B to the mortgage will increase the payments and I'm always worried that the worst will happen etc.  But it seems the most sensible thing to do as it means we will own the whole house and we'll know exactly where we stand.  I feel clearer just writing that down, but someone might come forward with a different view. (The H2B has another 3 years interest free but conversely could/most probably would increase the amount payable over the next 3 years too).  The second part of the equation is whether we start to draw down on DH's private/DC pension.  I don't want to do this and think we should keep this as an option in case we need to at any point (I think I came to this conclusion with savingholmes input about pensions).  Both DH and I have got work pensions, although we don't want (and couldn't afford) to retire anytime soon.  The other point to bear in mind too is that there are some changes afoot at my work which might happen in a year or two - and I'd like to get the mortgage in place before that happens.  Paying the mortgage off seems to be a lot easier than actually getting one sometimes.

savingholmes

I would avoid drawing down on your pension - as once you / DH does then it limits how much you can put in moving forwards... 

I don't understand the H2B scheme - but if the amount you pay rises with the market then that would suggest the sooner the better.

SandyShores

Thanks @savingholmes  you've put it very clearly and succinctly. 

SandyShores

I've had a 'me' day today.  After looking at the budget and the mortgage plans for a bit; I ordered another novel (two queued up now); then ordered a couple of books on a subject I'd like to find out about/re. potential career change in the long-term; made some plans to go into town and look at art journals and paints/brushes (I plan to go to Lakeland and M&S at the same time); I was also looking at a history book, but have decided to check the library first.  I then watched the Christmas edition of Sewing Bee, and have decided to do some sewing this week.  Then I restarted the healthy eating plan I joined a few weeks ago, I feel in a better space now to follow along with it.  Did some exercise, got out in the fresh air, cleared my head and said my gratitudes.  I've not made any resolutions except to appreciate what I have and to be positive - its going well so far.

debtfreeoneday

One things about cancelling the TV licence is missing programmes like sewing bee that I really enjoy!

SandyShores

debtfreeoneday said:

One things about cancelling the TV licence is missing programmes like sewing bee that I really enjoy!

I really love the part where they repurpose something on the Bee.  When I went up a size and a half I bought lots of charity shop clothes and did some alterations on a few pieces.  I wouldn't let myself buy anything new until I could get back into my normal size.  We have three TV's DFOD, I don't think we could ever go TV licence free - but I would love to.  I'm always listening to the radio, have a ton of books to read and sewing to do.  Maybe one day.

SandyShores

Felt a bit ill today, little bit of a cough and a fuzzy head and headache.  I did my new thing of asking myself how I felt and what I needed, and I needed another quiet and relaxing day, so no shopping for me.  So, what did I do, looked at decorating websites, ordered a piece of furniture online and watched 'Judy'.  Very poignant film, I didn't realise she had such a sad ending to her life.  Makes you appreciate what you have.  Feeling better in myself this evening so hoping to make the most of the bank holiday tomorrow.