The Case of the Overwhelming Mortgage

AgathaSquirrel

Had a look at the bond we have for university savings. It matures in March (I think). Started it when we had 2 under 3 and Mr A was at university so we were surviving on my 4 day a week wage. We put £20 a month into this bond for a promised payout of £6000-£8000. I’ve always budgeted on the midpoint of £7000. It’s been going up and down between £6000/£7000 in recent months but does now seem to have settled at £7000. Anything it adds now is a bonus to my budget.

Also transferred control of child tax trust fund to eldest this week. I always mistakenly thought hers was performing better than youngest’s so added money to youngest’s (and more recently eldest’s.) Youngest’s is now only about £300 behind. Once it has caught up we have agreed anything beyond that comes into our university contribution. I estimate a couple of thousand.
All in all should be able to knock a couple of months off our current September 2028 deadline of £24000 saved for university.

Will be giving eldest first instalment of this next month. Feels odd to have saved all of this time and now we’re ready to spend.

AgathaSquirrel

Briefly into £33,000s this morning. It will bounce back up but overpayment later in the month will keep it there.

Time for a new goal: I want the mortgage to be in the 20’s. Last time this was the case was my flat in the early 2000’s. I bought that flat in December 2000.I’ve depressingly been paying a mortgage for almost 26 years 😬

edinburgher

It must indeed be weird to be spending the university investments/savings, well done for staying the course 🙂 We are now a little over 1/2 way there. 7 years for DD1, 14 for DD2.