31/12/2025 and counting...

caeler

Great progress in 2020! Take a minute to congratulate yourself! @FiveMoreYears
I’m paying £2.90 a day in interest on my current balance on a rate of 2.09% so maybe you should explore the better rate if they are offering? 

FiveMoreYears

Until I started this diary just eight days ago, it had never once crossed my mind to change my mortgage since 2007. I shall now be putting thought, work and action into this.

So a very big thank you to @caeler, @FatJock, @beanielou and @powerspowers (and the Nationwide, for that matter) for all suggesting this

FiveMoreYears

caeler said:

Great progress in 2020! Take a minute to congratulate yourself! @FiveMoreYears
I’m paying £2.90 a day in interest on my current balance on a rate of 2.09% so maybe you should explore the better rate if they are offering? 

Many thanks Caeler. I shall be contacting my building society next week and will put this to them.

Thanks again!

powerspowers

Oooh let us know how you get on 

caeler

Brilliant! I hope you can switch to something good. If you know your LTV you can check out the rates available here: https://www.nationwide.co.uk/products/mortgages/our-mortgage-rates 

FiveMoreYears

I managed to make a hefty overpayment in January of £1050.

That's probably a bit more than I should have done, but I wanted to make a statement to myself concerning how serious I intend to take this task of overpaying the mortgage.

I managed this by keeping myself to a strict budget over the month. Of the £100 I took out of the cash-point on New Years Day, I spent £98.27. No alcohol, no books, no records, no newspapers, no travelling, no visits. It all went on just food, groceries, postage, (and my one treat of a copy of Record Collector magazine at £5.25). It wasn't enjoyable, and I'm still in two minds whether to try the same thing again in February, but it's good to know that I can do it if need be. As with many people, February and March are council-tax free for me, so that will help over the next couple of months.

While in the building society, I asked about talking to someone about a better rate mortgage. All their advisors are working from home at the moment, so I'll need to find time to talk to them by telephone.

Unfortunately, work has continued to be stressful, though the overpayment has helped raise my spirits a bit. In fact, I've actually been offered some overtime during February (four days) and March (eight days). Despite some doubts, I've decided to accept it, and have plucked what should be the quieter shifts. I shall devote one of those days to writing up my CV  .

Good luck to everyone with your saving and overpaying during February...
.

beanielou

I think you should try Feb too for a couple of reasons.
It's a shorter month & we are in lockdown!

caeler

I’m sorry to hear your frugal January wasn’t enjoyable. I did it and I was super strict and I think the challenge kept me really focused. I enjoyed racking up NSDs!  @FiveMoreYears

Why not give February a go, like @beanielou says, we’re in lockdown and it’s a short month! You can do it! 

FiveMoreYears

Thanks @beanielou and @caeler. I shall indeed give it another go in February too, and for that matter onwards until the end of lockdown.

When I say it wasn't enjoyable, that was more to do with my emotions towards my job at the moment. Being frugal in itself was actually a very positive feeling. My time spent indoors is currently being used up by reading books I've had on the shelf for too long, and listening to records I haven't spun for quite a while - very enjoyable from that standpoint.

FiveMoreYears

caeler said:

 I enjoyed racking up NSDs!  

You can do it! 

Yes, I have always enjoyed NSDs. Whenever I go a day without spending any money, it always feels like a victory over the system!