Ramouths second journey towards mortgage free
Ramouth
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I thought it was finally time to start a diary!
Myself and BF are fairly naturally careful with money but do have a few weak spots which I would like to work on. I am naturally lazy (i often feel that I might be a cat trapped in a human body) which has got worse since having covid before Christmas. I am hoping this diary will help me to be a bit more accountable and stop me wasting money out of apathy.
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Debts:
Outstanding mortgage: £112832
End date: July 2041
Interest rate: 1.24% until mid 2026
Monthly payment: £569
Joint Savings:
ISA: £9835 @ 3%
We each have personal savings on top of this as well as pensions which we pay 10% of our salary into and I have a LISA which I aim to max out each year.
At the moment we each pay a fixed amount into our joint account each month from which all joint spends and bills are paid. I then scoop up everything left above a float level (currently £1000) at the end of each month and put it into savings. I was expecting this to be around £1000 when we moved here but it seems to generally be significantly less. This is partly due to increased gas and electricity but I also think our food and drink spends are creeping up.