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Learning to walk before I run
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Went online to check my mortgage/overpayments after reading this - looks like mine defaults to the principle - PHEW!greenbee said:
You still do have to specify with most banks.Suffolk_lass said:
Yes, from the point when you pay it - so that interest stops compounding at the point you pay the capital it applies to. Not necessarily £1.61 therefore, but a good part of it.edinburgher said:Can I ask a stupid question? If my key facts illustration says I'll repay £2.61 per £1 borrowed and I OP £1, am I saving £1.61, as I'd have had to pay the pound regardless?
Back in the 1990s, you had to state you wanted your OPs to come off the capital and not be treated as interest up front payments!!4 YEARS 10 MONTHS DEBT FREE!!! (24 OCT 2016)(With heartfelt thanks to those who have gone before us & their indubitable generosity.)...and now I have a mortgage! (23 AUG 2021)Original End Date - Sept 2041 New projection - Dec 2039 (reduced by 21 months)3 -
We're with B@rclays, I'm not 100% how they work...Made £5.50 through 2 well paid Prolific surveys.
It's still raining - this evening's plan is HM beef stew (HM beef stock, ox cheeks and braising beef, onions, carrots, potatoes and peas), the rugby and a few stouts. DD2 has had a temperature since yesterday evening, she is miserable. Just keeping her gently medicated and hugged as no signs of anything more malign. Still, teeth on edge
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Er, 22 degrees and sunny here 🌞Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!5 -
Got £4 for a Y Live survey, forgot they were pretty generous, up to £38 now.5
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DD2 has hand, foot and mouth (which explains a lot) :'(
She's currently 90 minutes into a pram nap and I completed a £4 Y Live survey about charities en route. £42 and counting Just 20p on Prolific this morning 💰 6 -
Poor Dd2.Hope she is on the mend soon.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.6 -
Hope DD recovers soon. Not nice at all that kind of illness and so hard to watch/hear little ones suffer.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £1.3K Net savings after CCs 16/1/26 (but owed £1.1K) so £2.4K
3) Mortgage neutral by 06/30 (AVC £34.8K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 40.6/£127.5K target 31.8% 16/11/25
(If took bigger lump sum = 62.7K or 49.2%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.2K updated 16/1/265 -
Looks like a relatively quiet day at work (fingers crossed). Just as well, DD2 had a very upset night with little sleep for all.£21 OPed. Chase cashback, a little bit budgeted and virement for the rest. Trying out weekly OPs, save logging in to online banking so often.6
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Gosh, so worrying when the small ones are unwell. I do hope she is kicking it behind her. Take careSave £12k in 2025 #2 I saved £14,660.97 of £6000 or 244.35% of my target. The 2026 Save £12k in 2026 thread is here
OS Grocery Challenge in 2025 I finished the year at £2880.99/£3000 or 96.03% of my annual spend so I am sticking with a £3000 annual budget for 2026
I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the grow your own in 2026 discussion thread
My keep within our budget diary is here7 -
Hope she gets well soon, poor thing ☹️MFW 67 - Finally mortgage free! 💙😁6
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