Saving lots in pots!

Skint_yet_Again

You are doing really well with your savings! Hope the dentist went ok and wasn’t too painful or expensive 

~FlowerPot~

Skint_yet_Again said:

You are doing really well with your savings! Hope the dentist went ok and wasn’t too painful or expensive 

Thank you SYA ~ dentist cost me £25 to tell me it wasnt 'proper' tooth ache and it was too vague and he didnt want to extract teeth that are healthy and the xrays show no infection. Hmmmm! It might not be 'proper' toothache in his opinion, but when it goes off its extremly painful painful. I have only waited 3 weeks  to make the app as it was varying in how much it hurt and when and I was trying to manage it with pain killers. Anyhow will see how it goes!!

~FlowerPot~

Sunday

Clear up work stuff ~

Gardening though the jungle ~ Spent 2 hours and 2 wheelie bins extracting the bramble and nettle from the bottom of the garden. About half way through the job, but its a big job, in a big garden!

Make holiday list ~

~FlowerPot~

Morning been thinking about the mortage. We have £65000 left on mortage and currently overpay by what I thought was £300. But its actually £240. It rounds it up to a nice £800. I think I am going to try and use my prolific earnings to make up the £60 to make the over payment £300.

if i can do this our mortage will be paid off in oct 2030. reducing the term by 5 years!! and saving £6200 in interest!!

Seeing that we could be mortage free in 7 years is lovely and quite motivating. I will speak to DH and see what he thinks. It is a weigh up between putting my extra funds towards uni fees or the mortage!

 But I think I will be much more motivated to continue on the survey sites knowing I am bringing out mortage down quicker!!

~FlowerPot~

So spoke to dh and he agreed it would be great to focus on upping the mortgage payments. So I am aiming for £60 a month.
And then just before bedtime I had a nice £4.50 study🧡, which i managed (somehow) to get a £6.13 bonus!!!
🎉🎉🎉🎉🎉
So great start i have 1 sixth of the month done😀 and also have a fair bit in paypal and more to be approved👍

Very happy tonight, i really feel like my saving this money and then overpaying at the end of the month will be so satisfying.
🏠🏚️🏘️🏡🛖🏩🏤🏦

~FlowerPot~

woke up and Ive just done a £6,92 study, that will do very nicely, thank you very much!! Feels really good to know that this money is going to make a significant difference to our mortgage

the OP will saves altogether over £6000 pounds.

Mortage should be paid off by Oct 2030 ~ thats the date Im working to and will try and bring it closer if at all possible

I am going to add this into my signiture and will also note in my round up how much I have gathered for the new pot!!

 I have wondered whether I should start a mortage free diary, but Im going to stay here becuase im also saving other pots too

~FlowerPot~

Me again!! Im on a roll

I have just set up another chase saving pot and transfered the money in paypal and the £6.92 i cashed out last night and im very nearly half way for my August target. whoop de whoop (£29.65) plus I have £16 waiting for approval. So should have no problem for this month at least

Baileys_Babe

You are making fantastic progress with your mortgagee overpayment plan.

What are your plans if you make more than £60 in a month? Save the extra for the next month to iron out the peaks and troughs? Pay it off the mortgage and keep a note of how much of your annual target you have paid off?

When are you planning on make the payment? As soon as you have £60? On a set date per month?

Do you know the maximum you can overpay a year without penalties? It varies from mortgage to mortgage, their is no point being penalised.

Your challenge has really made me think, could we do similar? How would we generate this extra money? What is a realistic monthly/annual target? I wouldn't want to set one and it be impossible to meet it as I know we would stop trying.

~FlowerPot~

Baileys_Babe said:

You are making fantastic progress with your mortgagee overpayment plan.

What are your plans if you make more than £60 in a month? Save the extra for the next month to iron out the peaks and troughs? Pay it off the mortgage and keep a note of how much of your annual target you have paid off?

When are you planning on make the payment? As soon as you have £60? On a set date per month?

Do you know the maximum you can overpay a year without penalties? It varies from mortgage to mortgage, their is no point being penalised.

Your challenge has really made me think, could we do similar? How would we generate this extra money? What is a realistic monthly/annual target? I wouldn't want to set one and it be impossible to meet it as I know we would stop trying.

Hi @Baileys_Babe , you make some really good points!

I havenet actaully decided what to do with any extra, I might take a few days off from doing surveys as Ive found that helps in being offered surveys. Stop for a week and then they offer you more! Or I might whack inonto the next month and get ahead. I will see how it goes. I defineitly wanted it to be achievable and not too stressful which it should be I was managing £100 a month for the first 5 months of 2023.

I will pop it into the mortage account at the end of the month. Our payment come out around the 3rd on the month. I havent actually looked to see how much out daily interest is. BUt maybe it is worth considering adding it as soon as I have the £60 ~ I will consider it!!

I am 99% sure we have no penalties for over paying, apart when it gets right near the end. Thank you for your thoughts, I do hope that you can think of a way to make just a little bit extra. Personally  I think its esier to split it into months £720 sounds like a lot to find in a year but £60 a month doesnt seem so bad!!

But even £20 extra month would be £240 a year, popped in a seperate pot year month would be a great start

Flowers x

~FlowerPot~

So Fridays round up time......

• EF £50 added this week ~ Starting work on building to the next 1000 now, 950 to go!
  
• Xmas 1p challenge now ~ £490.83 / £667.00 ~ nearly got to £500 whoop de whoop!
  
• Health pot plus ~£10
  
• Car Maint plus ~£20 this week
  
• Pension Pot £15 added
  
• ISA  £0 added this week. (sniff)
• 52 week cash envelope stuffing challenge ~£33 added this week
  
• Uni pot ~ nothing sold or added
• Monthly Mortgage OP Pot (MMOPP!!!) ~ AUG £29.65/£60.00 , just about half way for my new OP payment plan ~ always good to think of new ways to save money and pay off the mortage early!!
  

It seems a bit tedious to keep writing a round up each week, but it is defientely keeping me focused. I still have a LONG way to go to being money savy and I know I could be so much more MSE But life gets in the way!!! DD defeinetly is my weakness. I have to take her out, to get out of the house as shes not in school, so it always means spending money, fuel/parking/food/treats etc. I tried setting a cash budget for the week for this, but it failed very quickly, parly due to the fact some places dont take cash any more and partly beacuse I left the cash in its pouch at home and partly because I just spent more!! I need to think how best I can reign this in!!