Pay off mortgage and start having even more fun 😁

newgirly

💙💙💙💙💙💙💙MONTH 9 OF THE 33 MONTH CHALLENGE💙💙💙💙💙

Start balance 1st October 2022: £61,452.11

Balance today: £46,128.10

Total reduction since month one: £15,324.01

Total reduction for June: £2090.38

I’m very pleased with this months figures as I managed an extra £151.50 payment on top of the £1700 op, it’s been hard and I’ve had a bit of help in the form of a bit of cash from dh and I sold a couple of items on eBay. 

As we have an offset , since the 33 month challenge started I’ve been just putting everything in that, however as of this month I decided to work out how much I should actually op to the mortgage direct to clear it in the 5 year fix term (4.01% starting oct 2022) and it’s £625 from this month, I’ll still be putting what’s required into the offset and so from now until March 2024 is going to be £625 op to the mortgage direct and £1226.50 to the offset. 

I can’t actually clear it completely in March 2025 as there would be fees involved so it will tick over to the end of the five years anyway, I felt it was safer to fix for longer last year just incase things went wrong and we couldn’t op as planned, things often do go wrong!

South_coast

I think we may all club together and pay off the fees for you when it comes to it, NG - just so you can get the damn thing done with once and for all 🤣! Then if something does go wrong there's absolutely no possibility whatsoever that any money is getting borrowed back out of the offset!

Put me down for £100 🤣!

newgirly

😂 cheers SC, I guess I’m taking the longest on here so it’s fair enough! 

Ramouth

TBF you have delayed MF largely thanks to buying a business premises (which appears to be an excellent investment) and extending the house which has allowed you to welcome extra family members when required.  These seem like sensible choices to me and you will get there in the end.  Your doing great!

newgirly

Thanks Ramouth,  very kind and true I guess 😊

I spent ages last night window shopping cruises for when we are mf 😬 trying to work out how to use dh’s 24 days a year holiday and stretch it out as far as possible! I’ve kind of disregarded the fact we need a new car, need to update the house etc. and are budgeting everything to travel 😂 I guess I will need to think about a longer term plan for when mortgage free and an actual saving fund 😱 

Im wondering if I should continue to pay the £625 mortgage op when we are effectively at a net zero balance in the offset, meaning we will have savings pot at the end of the five year term that would be about £18k ish. It’s all a long way off but I’m broke and like planning ahead!

newgirly

Yesterdays idea was daft, it wouldn’t be an extra £625 but the mortgage payment on top of £386, no thanks! I think I’ll just start a saving instead 😊

Well I’ve caused myself problems, spent a lot on food in Tesco’s yesterday from my personal spending budget as I just couldn’t wait any longer 😩 also bought a dress in Poundland - £14 , don’t usually buy clothes in there but it a nice comfy long black and white long sleeve autumn one, and I’ve gone and ordered some doc martens for the first time ever! Not sure my kids will approve as ds2 wears them 😂 they were £159 on their a site but I found them at studio for £80 on offer  took out 0% finance to get 20% off so with postage £68.99 and three months to pay for them. Naughty but am continuing with the “capsule wardrobe” thing I’ve been doing the last few months, it’s brilliant and I’m buying less (usually) so less items but comfy and longer lasting , at least in the shoe department! 

To top it off I also bought a very lightweight long coat in primarni, it’s one I tried to buy in spring as I have an old one that’s too small now, but they had been sold out everywhere, sadly they don’t come with the packable bag but I’m sure I’ve got a spare, another £18 spent. 

Need to find a bit extra now to plus the gaps in my spending 😬

newgirly

Well the boots arrived and they are really good! Need a while breaking in, but should last a long time, ds2 paid £45 for his very second hand ones so if I don’t get on with them I should be able to sell them easily. 

We took dd and hubby and step Gd to Heathrow today, they are off to Japan for ten days, £5 to drop off and £5 dartford crossing, they did offer to pay but I said no. I’ve never seen such large heavy cases though 😂 not dd as she travels light, all the more room to bring stuff home probably!

Not looked at the finances yet, not looking forward to it! 

newgirly

Up early today, dh is helping our son and daughter in laws Dad (sounds weird if you don’t know but my ds2 married the sister of dds brother 😂) to clear his garden and take rubbish to the tip. This has both pleased and slightly annoyed me as he wouldn’t take our rubbish to the tip as he hates going so I always do it, it’s loads so he’s using the van and he couldn’t really say no 😆

The credit card statement is due to be created on the 1st July and it still hasn’t been, so I will hold off buying food still, why can’t they stick to the same date every month and do it on the day they say, it’s so annoying trying to plan. 

Nice weather this morning, I’m just sitting out in the garden with a coffee, it’s fairly quiet and all the flowers i planted look pretty now, I bought a lilac coloured clematis a few weekend ago that already has a few flowers, no veg growing this year though as it didn’t go well last year so I stuck to flowers. We did get a lovely flowering water plant from the boot sale last month for £6 that has come on well, it’s in “kevs pond” which I will post a photo of if I can, kev being our ceramic koi 🙂

newgirly

We have a couple of pigeons who hang out a lot here now 🙂  

newgirly

Fantastic news, I did the meter readings and finally it’s let me attempt to reduce the monthly payment down again! Panic over and so I’ve an extra £59 pm which takes the monthly spending budget to £447 phew 😄 this month I shall use the extra to fill the hole in the current account I have of £79, plus I’ve transferred £20 from my personal spending. I can also have the higher budget when the credit card works again hopefully tomorrow 😬 Still need to find £68.99 to pay for my boots I the next three months, don’t think I’ve bought an item of clothes on tick since I was a teenager, paying my gran for bits weekly from her Kay’s catalogue 😂