Mortgage free wannabe part 2

carboot_karaoke

https://forums.moneysavingexpert.com/discussion/comment/81880302#Comment_81880302

What a super day 😊 no wonder you felt chuffed with yourself

carboot_karaoke

When you worked out your mortgage vs savings calculation did you include mortgage insurance costs?

I had been planning to hold onto our mortgage for different reasons and had forgotten about the add on expenses.

V3cash

https://forums.moneysavingexpert.com/discussion/comment/81881541#Comment_81881541

is that life insurance to cover mortgage?

I’m keeping mine anyway after we pay it off as we are still in 50’s and it’s reasonable cost still.

My hubby had a cardiac arrest 3 yrs ago so we would not be able to get that cover now for the same cost and when something like that happens you hang onto life insurance. 😢

Not sure when is a good age to let that go or just wait til it comes to end of term.

My ERC presently is about £900 so that in itself is a big factor. Don’t want the bank to get more ££ from us than needed 🤣🤣

V3cash

so yesterday I did another couch to 5k run

Run 2 of week 1 👍👍

Met friend for tea and scone, did buy a nice top and beautiful rust coloured jeans from next , I’ve decided buying jeans from Shein is a bit of a false economy as they do nothing for me, look like a sack of potatoes, whereas these next ones are lovely.

Decided to have a few nice pieces and mix match.

Sold a few more bits on Vinted so posted them off.

Did a grocery shop and bought mostly healthy foods. Used some cash from gumtree sale for that so only £40 on card.

Unfortunately i couldn’t get anymore glass containers from home bargains so i might need to buy from Amazon.

Made some veggie soup out of veg i would have chucked out normally when restocking fridge, that’s stored for tomorrows lunch.

Brother in law and sister in law coming over to help build wardrobes for spare room, they need fixing to wall and lifting so im no good with my dodgy shoulder.

I’m gonna make them homemade pizza for lunch, was gonna buy veggie sausage rolls, coleslaw etc but I thought nope i can make a veggie pizza and salad instead, cheaper and healthier and nicer too I hope.

I’m on a health kick as yesterday I had a chicken burger roll and chips and I was so bloated, been really good this week, was gonna do Chinese tonight for valentines but decided to make something healthier instead, I can make a fried rice and chicken myself x

V3cash

getting there now, just waiting for plinth from IKEA, then 4th section of wardrobe will go in plus mirror doors, we have lights for the room and I’m currently looking for a mirror with lights as I want to make this a dressing room come guest room, it was just a junk room before with old pine desk and washing so it’s nice to organise it so when we come to sell the house it will be a bedroom rather than junk room, my refurbished dressing table will also go in so it will go well, can’t wait to see it all come together. Really grateful we have great relatives that help us when we need them.

beanielou

Looking good.

carboot_karaoke

Room is looking great 👌

Ref the insurance, we have mortgage specific insurance designed to clear the mortgage if one of us was to die before the end of the term. This wont be necessary once our mortgage is clear

We do have separate life insurance policies in place for over 20 years definitely not surrendering early, like you say. T&C'S have changed alot since then. I will need to investigate over 50 life insurance soon 😕.

V3cash

https://forums.moneysavingexpert.com/discussion/comment/81885125#Comment_81885125

Thanks, I’m excited to get it finished and spending time this year sorting house so it’s more sellable

No we have not got specific insurance to clear mortgage, just life insurance. so I don’t need to factor that in to calculations. Could you just cancel yours as you have a small balance left and life insurance would more than cover yours.

carboot_karaoke

I probably could tbf, but its a decreasing life insurance linked to where they believe our mortgage should be at this point 5 years off the end date. Probably about 40k ish. I will cancel when the mortgage is gone and we have a decent contingency fund.

You're maths all stack up, August 27 is the best financial end date you could choose 😊

V3cash

so mirrored doors done and lights, still waiting for plinth for 2nd wardrobe so can’t get it finished yet!

Decided to move daughters bed downstairs into this room when wardrobes finished to see if that works as she really needs a bed with storage. Moving her bed even temporarily will help while I paint her room. She’s not home until June so it’s the ideal time to get it done.

It’s black so it might work, unfortunately the knobs in bed are gold ish (I think 🤣🤣) so will need to see how it looks before deciding, it could stay til we find a white one on gumtree, was gutted as i found one and didn’t realise message had been sent to me but it went in my spam, by the time i realised it was sold 😢

Anyway I’m awake early this morning and due to terrible weather yesterday didn’t get run 3 done.

That’s my priority this morning then I’m off to post office as I’ve got a couple of Vinted parcels to send and a bag for charity.

Put dressing table in room yesterday but it needs another coat of white as it’s looking yellow ish already, not sure it was a success and don’t think it suits room but I’ll keep it for now as sometimes if you live with something it grows on you, it needs to be white though so it’s getting another coat of furniture paint today.