Aiming for zero

flipper_72

Thanks guys I am really pleased with the overpayment. 

we are a slightly odd family, until recently we spent 15% of our take home on sport/exercise, this has reduced to just over 10%. We are all missing our training, DH and I are running ( for me this is odd as I am a competitive swimmer but DH always runs) , DD can’t do much because of physical issues but is doing core stuff and DS hasn’t been doing much of anything until this week and both have been struggling mentally. They both come out for a walk with us a few times a week and we are working on other things they can / are prepared to do, teens/tweens parenting is hard at times!

flipper_72

Scheduled overpayment of £150 paid today, mortgage down to £111,461,52, unlikely to pay anything else off this month unless I get some sales. Have a few things I need to sell, they are all fragile though so will use Facebook as don't want to post just in case.

flipper_72

It has taken a while but at last I have got round to applying for a product switch, going from a tracker to a 5 year fix. No overpayment limits but there are early redemption penalties, they did say as long as we keep £1000 in until 5 years is up that there wouldn't be anything to pay, and it is portable so if we do move it could go with us. Fingers crossed we are approved now as the monthly payments are almost £120 less per month.
Only managed to list 1 of the items on Facebook as it has been a difficult week, all plans went out of the window. Might try to get DD to help list the rest tomorrow. Then paint a couple of old drawer units to go in DS room as bedside cabinets. No more payments this month, unless I get any sales there won't be either.

flipper_72

Still waiting to hear if we have got the new product. I have done the payday money shuffle and put the £490 product fee back in the emergency fund from the money I would have put on overpayment. I will wait until Monday to see what the payment is that they take and then make an overpayment of what we have left. 

Didn’t manage to list anything or paint the drawers as DD was in hospital for just over a week, she is now home but she is dealing with a life changing issue that might be for life. We are all pretty shell shocked and taking it a day at a time but the money we save on the mortgage might be needed to make life a little more comfortable for her rather than overpayment.

FtbDreaming

Oh dear. My thoughts and prayers are with you and your family. Health is way more important than wealth so I think you’re doing the right thing in keeping money back to make your family life easier rather than overpaying the mortgage. If the money doesn’t get spent you could always make an overpayment in the future when you’ve all adjusted to the news a bit. 

Fingers crossed the new rate kicks in and saves you some money xx

flipper_72

Still on the old mortgage rate so I can only afford to pay an extra £200 this month but will keep hold of it until later this month in case we need it, we do have an emergency fund but I prefer not to use it!
DH has set up a pension at last and has applied to transfer a small DC pot into it. He hasn’t contributed to a pension at all while self employed which is 16 of the last 19 years! Currently he has 2 tiny DB pots and 2 small DC pots so once the first DC has gone into the Vanguard SIPP he will transfer the other DC pot too. 

I currently pay into a LGPS and we were planning on opening a SIPP for me too but I can only afford £60 extra per month and it seems I need to pay £100. I have a DC pot I can transfer in but I don’t know if I can do that without the monthly payment, I need to do a bit more research.

flipper_72

We have made it to the almost the end of the month, 3 visits to the more local hospital and 2 to the big city one with DD. She is finding it hard as only 18 months ago she was competing at National level and now she can barely walk and 2 lessons in school means a 4 hour sleep when she gets home.
The £200 is still intact as petrol and parking were covered in my “pots”.

After still not hearing about the rate change on the mortgage I called them and it appears that a letter must have gone astray. The interest rate on the mortgage was changed on 17th February and the new payment amount will start 1st April. 🤞 this actually happens as the savings will be greatly appreciated.
DH has now transferred both his DC pensions into a SIPP and I have transferred mine, we have both set up DD so there will be less overpayment on the mortgage but I still want to chip away at it as it helps psychologically to see the balance reducing.

flipper_72

April overpayment of £271.35 which takes us a penny under £110k. 

My first regular payment into the SIPP has been taken but for some reason DH’s hasn’t as they haven’t verified his account.

Application for DLA for DD was rejected so I need to call them for a reassessment, she has deteriorated a lot since I filled her form in so 🤞, we are paying a lot out to adapt things for her so hopefully she will be accepted. After messaging someone who has a child with similar problems they have just spent £1100 on a wheelchair so I will save the DLA for that if she gets it. 

flipper_72

Only £150 overpayment this month. DD had to have surgery last week so we bought her a wheelchair so she can get out of the house. She hates being pushed though so I think she will probably need a better quality one so she is able to push herself. No response from DLA about the reconsideration.

The standard payment hasn’t been taken yet so not sure what the balance is at this point. 

FtbDreaming

Can’t the physio/ OT where she is being treated provide you with the equipment she needs to get out and about? I work in A&e and we provide it all. I couldn’t imagine if people couldn’t afford it how poor their quality of life could potentially be never mind the delay in rehab/ recovery. 

You’re doing really well still making overpayments with all that going on! Isn’t it lovely going down to the next £1000 and in your case the next £10,000! Well done 🥂 xxx