770k reasons to be mortgage free

StrivingForSimple

Wow the price of car insurance just now is astronomical.

Had our renewal quote through for our multi car policy- £480 increase from last year… I think not!
Two hours of work but ended up with just an £80 increase and that includes almost doubling DH’s mileage due to some commuting changes he has coming up. Also should get some cash back through for both new policies which would make it cheaper than previous year but I don’t count that until it’s in the bank as there’s always a risk it won’t come through. I’ve also opted for policies that won’t be too expensive to make changes to or cancel if we need to as we’ll def have to make at least one change to cars in next few months as we’ll have a teen turning 17 who’ll want to learn to drive - so exciting and entirely terrifying in equal measure. 

StrivingForSimple

In savings news. 

Received £100 compensation cheque from a major CC provider. They’ve had a fairly major flaw on their system which meant that when we updated our address with them after our move 18+ months ago, their system overrode this months later and reverted us back to old address. Didn’t realise until they charged us a lot for missed payments (we rarely use the card and had a balance of a few pence in there). Turns out they’d sent 6 letters in total over the course of a few months to our old address. A total mess. Glad they’ve admitted fault through and they’ve refunded all charges, sent a compensation cheque and apologised. We’re also closing the account as tbh they’ve been rude to deal with on several occasions previously so this was really the last straw. 

All that to say, £100 extra to savings. Plus £531.04 interest added (love these high interest rates, let’s not focus on inflation though!).
That takes us over a big milestone of £20k 🎉🎉

Current position
Mortgage offset savings   £20301.93  8.35%

StrivingForSimple

Missed adding the interest received from another account. Rounded up to £150

Brings us to a total for the month so far of £5543.27 I’ve got in mind getting that to £5750 but there’s not much room in the budget on anything for the remainder of the month. Not quite sure how I’ll make this work.. might be able to get some cash back payouts by then... I do have almost £100 vinted sales that should clear fairly soon but also have some items I need to purchase for the very growing teens… will have a think and see that I can rustle up

Current position
Mortgage offset savings   £20,451.93  8.41%

StrivingForSimple

Scrap that, I’d forgotten to check the interest on the ISA that I count the interest on too… £517.22 added there. 

Takes me to £6060.49 for the month, just shy of £21k total. Perhaps getting to £21k can become my new target for the month ..£30 needed for that which should be achievable 

Current position
Mortgage offset savings   £20,969.15  8.62%

StrivingForSimple

Extra payment-

Cashback, clothing sales & deposit return = £340.24

Current position
Mortgage offset savings   £21,334.39. 8.77%

LadyWithAPlan

21k target hit well done.

StrivingForSimple

Very pleased with the overall pot growth in November. Now onwards to December!

Initial OP savings transferred over of £3500 which takes us in to double figures as a percentage. It’s been a busy few weeks, I’m entirely behind on Christmas shopping and planning so haven’t quite got the budget entirely wrapped up for December BUT most of the extra spends should come from the monthly savings we make through the year for yearly bills/birthdays/car maintenance etc so hopefully the normal budget shouldn’t be too affected though I’m sure there’ll be something that I’ve missed. More overpayments to come for December once I have things a little more straightened out.

Current position
Mortgage offset savings   £24,834.39  10.21%

Savingtomove

Wow you are going great guns!!

thegentleway

How you getting on?