!!My time to be mortgage free!!

happymum37

jimjames said:

happymum37 said:

savingholmes said:

Is it hard to get another role in his industry?

Very. We can't get income protection or anything. But he is a total worrier with money  . Like petrified of spending 😉  

It's a reasonable situation to be in if redundancy is looming and roles are hard to come by. I'd certainly want to make sure that I have sufficient in savings if that was a possibility for me. If the worst does happen, does he qualify for redundancy pay? If so and he can get a new job quickly then that could be a boost to the overpayment fund.

He's only been at this company two years and gets basic redundancy only...and I doubt he would get another job quickly.  My full time wages would cover us living frugally if that happened  .......... I'm just letting him wobble a bit and not worry him further.  

I think my little plan of cashing in some under performing shares to pay interest the mortgage will work as we doing count these as savings
X

savingholmes

If you can manage on one wage - I don't understand why he is so worried.

happymum37

savingholmes said:

If you can manage on one wage - I don't understand why he is so worried.

I don't really. He has an obsessive fear about defaulting on the mortgage. Thank goodness we have never ever done that but I assume his parents must have as he's totally wound up. 

I'm giving him to after Christmas and getting rid of some of the savings.  Either into mortgage / new car/ pension !!!

savingholmes

How much is your mortgage per month? Could you put a year's worth or more in a separate account so he stops panicking?

happymum37

savingholmes said:

How much is your mortgage per month? Could you put a year's worth or more in a separate account so he stops panicking?

It's very small. We pay 450 a month so have plenty of spare!!  He honestly worries so much its ridiculous. He was brought up in poverty though so I have to tread carefully. 

I saved £100 in the bonds for us today and £25 each for the kids. 

Did a bit of Christmas shopping and tomorrow will do my fave thing... over pay to join the zero club.  Whoooop. 

This month will be expensive so I'm paying my overpayment out of my incredible survey profits -72 quid so far.  

Xxx

beanielou

If you grew up in poverty I don't think it ever leaves you sadly.

happymum37

beanielou said:

If you grew up in poverty I don't think it ever leaves you sadly.

I totally agree.  I use the softly softly approach with hubby.  He knows deep down we are not in the position he was in but can't shake the fear.


More Christmas shopping done today.  Nearly all put through my cash back whooop.

More to pick up tomorrow and need to fill up one of the cars with fuel.  Need shopping but we are eating through the freezer before Xmas so that we can fill it with yummy food lol. Therefore only fresh stuff and a very small amount of not so fresh stuff will be bought! X

savingholmes

Can you get across to him that it is a form of savings as it lowers your contractual obligation if the worst happens

happymum37

savingholmes said:

Can you get across to him that it is a form of savings as it lowers your contractual obligation if the worst happens

Possibly.... I'm going to tackle it after Xmas. At the moment I'm on track to save a decent wedge this month so hopefully he will chill a bit... he gets worse at Christmas.  When we have to buy a new car( its on the cards) he will be horrific.  Any period of high spending is hard for him. 


We have booked 2 holidays for next year so that's not to be sniffed at.  And now I think I only have my hair left to pay for that's big this month so we are ticking along nicely 👌 😎 

happymum37

Whooop

Fave day

Zero club joined

43800 mortgage left...app not updated so not sure if its taken any significant term off yet