Aiming to be mortgage free before I am 62!

Tiredbutdetermined

Another long gap between posts. 
Amused that I said in my last post that July was going to be a fantastic month financially. It was anything but!
I have fancy annual finance planners that I love as they keep me on track, give me a sense of achievement and keep me mindful about money. Last was the first month since 2021 that I didn't track my spending! I did think the tracking was just me playing with pretty pens and planners but last month was also the first month I hadn't put anything into savings that wasn't my  £150 direct debit. I am trying to cope with the missed month in my planner but at least it enables me to continue with the planners, pretty pens and stickers.
I have August mapped out in my planner now and I am back to shuffling into savings

The mortgage has shuffled below £150,000 so that feels pretty great.  I am still a little unsure where I am going with savings strategies. I have a 6% account but I can only pay in £150 a month so I have that set by direct debit already. I have a 5.5% interest account that matures in February but once you take account of tax I don't know that stacks up that well against my 4.79% mortgage. I do need to have a look at a proper ISA. I have one attached to my current account but the interest rate is seriously pathetic

I am really proud of my savings now that they are back on track.  I am still working towards paying off my car finance and I now have more than enough for the balloon payment that is due at the end of March 2026 so I am going for the full balance to try to get it paid off early to release the £325 a month payment to become extra savings.

My fab 7.5% saving account sadly matured but frustratingly wasn't paid until after the start of July so I have put the balance into my premium bonds. They won't go into the draw until September but I am hopeful the slightly higher premium bond balance might give me some returns. I don't want to be selfish and aim to win both millions but I am solidly aiming for one

My emergency fund is back up looking great but I have offered the twins cash incentives for their GCSE results so I am hoping to have to pay them out a decent amount but hopefully have some money leftover to keep in the emergency fund and hopefully pop more over to proper savings.

I think I am still due a little bit more money from exam marking so I am hoping for a few hundred extra appearing in my account soon.

I hope everyone is having a great summer. I am trying to keep it semi frugal, which isn't easy with needy teens!

PermacultureGirl

That GCSE incentive sounds like the one time you want a bill to be more expensive rather than less. Got my fingers crossed for them to do well 

mark55man

We all have a blip now and again - I hope you enjoyed it.  Just dont let it turn into 3 or 4!!

There was thread on the savings board about a new virgin savings account at 10% but you need to have a virgin current account (although I think you can start one).  I didn't do it as I'm trying to simplify at the moment

Tiredbutdetermined

PermacultureGirl said:

That GCSE incentive sounds like the one time you want a bill to be more expensive rather than less. Got my fingers crossed for them to do well 

They are very different now, despite performing scarily similarly in their KS2 SATs so one will cost me a lot more than the other Luckily he knows his sister will outstrip him academically so it is what it is and there is no competition between them nowadays. 
Annoyingly she will cost me a fortune next year too as her bus to 6th form is £750 a year.  He is going down the more vocational route so his transport seems to totally free and comes with a pass for very cheap travel the rest of the time.

mark55man said:

We all have a blip now and again - I hope you enjoyed it.  Just dont let it turn into 3 or 4!!

There was thread on the savings board about a new virgin savings account at 10% but you need to have a virgin current account (although I think you can start one).  I didn't do it as I'm trying to simplify at the moment

ooh - that sounds interesting.  I might have a look at opening a new current account. I opened a Chase account last year as it offered great rates for use when we were on holiday last year but also 1% cashback on purchases for the first 12 months. That has just come to an end so it doesn't seem like a particularly useful account anymore!


I have updated my money planner again this morning and I was going to transfer my savings for my Eon direct debit as I still pay less than I had in my budget. I split my direct debit savings between my EF, savings and creation credit for my laptoppy tablet thing.  I tried to pay £33.34 of the £100.72 still outstanding but the app was having a strop and telling me the minimum payment is £5. I tried, logging out and in but it was still being ridiculous so I took the huff with it and just paid the full balance using a bit extra from my EF. I am feeling quite pleased with that as my savings will appear to grow more quickly and I am all about the self-motivation! 

Tiredbutdetermined

Urgh - spent too much in the supermarket yesterday. Taking teens with me is not a good move!

Went to the pet shop yesterday and stocked up on enough cat litter to keep us going for a while.

As much as I am loving the summer holidays and downtime, I do find it stressful having no routine and the financial impact of that. I am trying to enjoy the bonus of significantly lower petrol costs!
I am usually a £50-£60 tank a week kinda girl but tomorrow will mark 2 weeks since I put petrol in. It is the small things that make me jolly!

I have had a look at savings accounts but the savings board seemed to indicate the virgin account wasn't particularly plain sailing. I think I am going to stick with the premium bonds and Skipton 5.5% account until that matures in February.  I am hoping at that point I can get a settlement figure on my car and be close to paying the car off. That will drain all of my savings but I think I will go to a split strategy with rebuilding some premium bonds and directly overpaying the mortgage again in the hope a lower LTV might get me a better rate when my current deal ends in May 2026.

I am feeling a bit flat today so I might slope off and do a bit of crochet in front of the TV.

I need to list the church pews I used to have in the dining room on facebook marketplace but I don't think I have the energy to drag them out of the garage to take photos!

Tiredbutdetermined

I have cleared out my extra Chase current account as I had £155.73 in there from cashback and round ups so that has been split between EF and savings.
Apparently I am now eligible for a Blue Light discount card so I have applied for that and quite excited to investigate the discounts!

I feel like I am wishing my summer holidays away waiting for results day as I know the twins are struggling with the wait and I am not loving not knowing how much of my EF i will have left once I pay their incentive. I think I am a bit twitchy with excitement to be able to pay the car off!

Tiredbutdetermined

I posted earlier but the post seems to have disappeared!

Yesterday was a bit of a waste as I woke up feeling grim at about 1.30am and then struggled to get back to sleep meaning the day was a bit of a waste to say the least.

Today I have tried to get my head back into diet as i need to lose a few stones! I had overnight oats for breakfast, a goats cheese and bacon salad for lunch to use up the out of date goats cheese and after the naughty salad I am having yoghurt and wine for tea!

I sold a freebie item for £10 this morning so that is a tiny bonus.  I got a home wax kit from amazon vine today so that has been fun to play with for free

Aimingforthegoodlife

Sounds like you have a lot of good plans, I always love the little wins like making the car get further before top up! Hope the results are what they want!

Tiredbutdetermined

I met a friend for lunch on Monday, which was lovely. I had to put petrol in but pleased my tank had lasted 2.5weeks and I had managed my 574839 trips a week for the gymnastics run for my daughter and a road trip to a theme park in with that. I need to stop obsessing as I need to go in to school to do some froofing in my classroom and I think I am half putting it off to make my petrol last until the start of term!

I am feeling really lethargic at the moment still but i am trying to get a bit of productivity in.  Today I have scrubbed my daughter's en-suite. She is a minger!
I am still decluttering as much as I can and am determined to have the bin full to the brim each week but I am now at the stage where the teens rooms need doing so I am glad it is still warm to support the countless washloads from their floordrobes

Tiredbutdetermined

I have been trying to get productive. This has had a mixed impact!
The house doesn't look very different but I have done some of the very dull ploddy school work with getting my planner set up. I am making a bit of an art form of avoiding planning the stuff I need to deliver on our first INSET day back!

The washing machine is working hard so the garden is full of washing at the moment but once it starts to dry I am determined to get out there and finish painting the fence or possibly paint some chairs.

I managed to list and sell the church pews for £230 for both. I probably could have got more but I am pleased they will be loved in their new homes and I have a good chunk of garage space back.

My car insurance is due for renewal in September.  The twins turn 17 in a few months so I don't know whether to try to look into which providers would allow me to add 2 provisional drivers at a later date or just go with my best renewal and see if there is anything I can do to add them later