Mortgage free wannabe part 2

V3cash

Hi,
it’s been ages since I posted and I was very lucky to pay off my mortgage before covid.
my house was 25 years old and needed a lot spending on it to make it energy efficient and modernise it so we decided to move instead as we just couldn’t change certain things we didn’t like)
Unfortunately this meant getting a mortgage again 😢
Our thinking on this was because I found that once I had paid off my first mortgage I was spending all of my income and not saving much, before Covid that is. it was great 😊
so we decided to downsize which ended in upsizing and investing in a bigger property as our thoughts were we could downsize at retirement.(10yrs)
anyway when we moved we got a £100,000 mortgage and we invested in solar which was definitely the right decision as the energy prices rocketed and our present house is very reasonable to run)
3 years later my mortgage is £73,450
and it’s fixed at 2.79% for another 2.5yrs (12yr term left)
i have savings for emergencies of £11,000
i have an nhs pension plan and small private pension from my self employed days and my husband saves into a private pension plan from his wages.
I have a car loan 0% on a credit card 0% til June
£6650
will be getting another 0% soon to transfer this to.
so this is my diary as I start to overpay my mortgage 
hoping to do it in 8 years or sooner hopefully.
We have had a few life bumps along the way so i definitely will not be a superscrimper and have no life, deaths and near misses help put things into perspective. life if for living for sure!
but I’m a bit addicted to overpaying so will be chipping away slowly 😊
i know it makes more sense to save as interest rate is higher but I just spend it when it’s there and the rates are being chipped away slowly and surely.
my plan is to pay £450 this month extra.
we shall see how that pans out as my daughter has come back and is currently unemployed, waiting for her cruise ship contract to be arranged.

CrazyBee787

Happy New Diary, You have very good aspirations  and it sounds good that you have moved to a nice new place, with regards the spending I found putting everything on a spread sheet or writing everything you spend money on useful, so you can see where you fritter money away. You will want to be able to save when you pay off your mortgage so that you can buy a car and a holiday rather then owe that money, so you might want to use the forum to change your habits Just a thoughtXX

seventh88

All the best on your next journey! It sounds like you've got your eyes set on the goal and know how to get yourself there too - and that's half the battle.  look forward to hearing how you get on

beanielou

Happy shiny new diary. 

V3cash

So I have been spending a bit more this month as my daughter is home and I have been spending time with her and treating her a bit before she sails away, on a cruise contract she currently waiting for.
i don’t grudge this as I won’t see her for months once she goes so I’m getting quality time in with her before she goes.
Despite this we didn’t spend a lot last month on the Visa card so I was able to put £450 into mortgage, it’s now £73,000, with this months scheduled payment it should come down to £72,500.

I also overpaid MBNA credit card by £150 bringing that down to £6500.
i know this is a 0% card but I’m treating it like it’s a zero percentage car loan, making £250/mth payments from now on.
i have to swap this soon as 0% is ending in a couple of months and I managed to find Barclaycard 14 mth balance transfer at 0% and £0 transfer fee and I can get £7000 so I can transfer the total. 
I aim to have paid £3000 of that off by end of 12 months, then will transfer again or get 0%spend card and just transfer payments I would have spent to Barclaycard, to pay it off, if no £0 balance fees out there. (Rarer then hens teeth)😀
I am due about £750 bonus in September after tax and I need to decide where would be best to put this?
Will work out savings once hubby is paid as we are awaiting service and mot bill for cars this month, that will come out of his wages.

V3cash

So forgot I owed some money for a boat trip I never  asked for so feel a bit reluctant to pay but I will obviously pay for it as my hubby enjoyed his fishing experience in nz.

so I can’t save as much this month as I planned.
so £300 into savings, making  £11,300 total now. I
will also get some interest to add to this as a 7% saver account matures 2nd February.
I
have overpaid mortgage already for January and I will overpay a little more once repayment goes out on 1st, I like round numbers so it won’t be alot.
i also put £350 into car service account so awaiting car bill for service and mot, have £800 in there and hoping that covers it, if not I’ll need to go into savings.
I’m lucky the brother in law charges mates rates so hopefully it will be ok.

V3cash

So I wanted to get my lovely hubby a birthday gift as his birthday is in February and I really wanted to treat him to England rugby tickets but they only had corporate tickets at over £800/ each.
he would kill me if I spent that much so I found the red roses 5 nations tickets for £89/each which I bought as he likes watching them as much as do and it included a drink and meal so we can make the day of it.
he’s had a rough time with his mum as she keeps falling due to her end stage dementia and his dad died in January, not going to be a good year for us i fear! So hopefully that will give us something nice to look forward to.
i was going to put it on visa but payment kept failing, not sure Tesco credit card was happy with the unfamiliar website, who knows ??
therefore I’ve had to bacs it to them instead so it’s come out of saving pot instead of visa allowance which has messed my calculations up now 😳
never mind I will rejig things next pay day.
I have also applied for a slightly higher interest saver account as chase has dropped to 3.5% which is rubbish 

V3cash

just thought the mortgage is not made up til 3rd due to weekend, never really get the weekend thing but that’s the banks for you 😜

V3cash

Savings now £11,354
gonna get it to £12,000 then anything over regular saver amount saved throw at mortgage and mbna loan 0%
im out for bottomless brunch today with a friend so looking forward to that ❤️

V3cash

OP £16.93 today on mortgage just to round figures up or even down 😜
so total is now £72,490 
payday will see bigger overpayment go in but I’m now thinking of putting a bit more into NHS pension, so may need to recalculate mortgage OP or do a few more spend free days a month .

V3cash

£256.93 into mortgage as my lovely sister said I wasn’t expected to pay for boat trip they had arranged when we were in Nz So that was a bonus!
total owed now £72,250
i have had a £0 spend day today and I have baked bread for week and baked hot cross buns for the week.
i also cleared out freezer, putting things into Chinese containers so i could see what I had for week and I’ve made a meal plan to save me making any purchases, the only thing I will need is some salad leaf as I’m back on my healthy eating gig this week.
had homemade potato and leek soup which was so good. I always forget how good soup is.
i am gonna post a pic of my rolls as they are 😊 so good