Cutting it Fine - the challenge is on!

savingholmes

Your options give you choices - and you will be grateful for those down the line.

SandyShores

Thanks @savingholmes.  I love having a back up plan.  I've explained the plan to DH and he is on board.  Well, I did use my frozen DB pension to help buy our home.  The initial aim is to pay off the mortgage without the pensions, but they are there as back up in case life happens.  We will definitely look into the different pension/draw down options nearer the time though.

Its funny how, when we were in £30k+ of debt, I thought we'd never have enough cash for a comfortable debt-free life - it seemed impossible.  But, when we were well and truly on the debt-free journey (3rd lightbulb moment), but some £10/15k still owing, small amounts just kept cropping up.  These eventually added up and helped us pay off the debt more quickly than I'd ever anticipated.  A few PPI cheques and we were free - it was a sort of shock it happened so quickly.  We didn't need that big lottery win or huge windfall to get there, we just focussed on the end goal, and it eventually happened.  Its the same with the mortgage isn't it, focus on paying each small amount and we'll get there.  At one time I would have thought even a £1m win on the lottery wouldn't have made us happy, but these days I celebrate just to win my occasional £2 ticket back, although anything above that would be wonderful and £100k would set us up for a fantastic life.  Feeling much more contented recently.

savingholmes

Great to be content and grateful. I have listed mortgage payments to go to have a greater feeling of progress. My relative yesterday had no clue when their mortgage ended. Boggled my mind.

debtfreeoneday

I’m leaning towards option 4 to be honest…

debtfreeoneday

It is reassuring to be in control isn’t it. I feel so much more settled for retirement facing first our debt and now our mortgage. 

SandyShores

Definitely option 4 debtfree.  And so much better when it will be all ours and not have to pay any debts off first

But yes, being in control of the finances (rather than the other way around) is a much more peaceful existence.  Fewer sleepless nights thank goodness.

SandyShores

First mortgage OP made for 2022 - a grand total of £2.30.  You know when you just have to round it down to 0000s

Will log in tomorrow to see what the daily interest is and multiply by 28, to work out the Feb overpayment.  I've a piece of furniture up for sale which will cover that.  Nice short month so our budgets should last the whole month this time.  In my personal saves I've a DD set up to PBs  (now at £500), plus another £200 in the S&S ISA.  Mr Shores just spends all his money on his interests, but at least he can save a bit in advance for his purchases these days.  I think the state of our personal accounts just underlines that I am definitely the right person to be FD in our house

SandyShores

Logged into my mortgage account and the interest hasn't been added - its lovely to see all of those zeros, but I'll need to check again tomorrow.  Some good news - the piece of furniture sold, all collected so we have space again and the money has already been OPd to the mortgage.  

My ToDo list has been stagnating for a little while, some things are partially crossed off, some added and the odd one deleted.   Everything on the list now is going to take some time, some effort, or is waiting for something to happen before I can move to the next step.  The list is still at 17 items, but I am now in a place where I've a bit of time to make a  start on some of them.

The sewing didn't happen again this weekend, but some good things were done and I spent time on healthy activities, keeping fit and having a bit of a giggle.  I ought to have a look for some fabric online tomorrow.  White fabric is okay, but a pattern is much more fun.

savingholmes

Well done on the sale. Well done on the OPs. Brilliant that you are practicing self care.

SandyShores

Hi savingholmes, thanks for popping by 👋

I've been pretty tired this week after all the weekend activities, but it was worth it.  Things slotting into place in other areas of my life so its definitely time to spend time on me

Had a reasonably productive day at work and made some bread this evening.  

Just been looking through my list of things to do, and its interesting that there are a lot of things that are my creative, personal/learning things that are building up.  A good sign that I need to rebalance that.