2008 MFW newbies

newmoneysaver_2

bellsbells wrote: »

half to hubby and half on the mortgage???

Ah-ha! Hubby has said to put it all towards the mortgage. He has a few bike bits listed on Ebay so I would imagine he has ear-marked some of this for the exhaust.
Result! I have managed to get hubby round to my way of thinking, not so long ago there is no way he would have suggested that!

:hello: Welcome abouttimetoo!

LouiseJ - hope you get the cheque sorted.

SAVVYMUMMY, everylittle does help. Those few pounds here and there will soon add up. Don't forget it's another couple of pounds you won't be paying interest on for the next XXX many years.

twinklie

So it looks like saving for a rainy day was a good idea....my OH has no job come August and isn't going to complete his job.

Therefore unless I get one, neither of us will be working!!! ARGH!!! Slightly stressful!

Hawksmuir

I've gone for it this time, instead of waiting to see if I have money spare at the end of the month, I have overpaid my £100 now, hopefully my budget calcualtions are spot on, and I haven't left myself short.

kezza12

well i woke up this morning and found 10 1 pound coins next to my morgage pig:rolleyes: i think the OH likes to let me see how much he's contributing (and he knows that i like the lovely noise of pound coins hitting china:D )so i,ve got £40 already towards this months over payment and i've got £200 towards my holiday for the first week in may as well, and i only bought 1 dvd this month!! a small luxary. welcome to all the new guys and lets get on our way to financial freedom:T

sreppaw

Hi all,

A little bit about me, 113k offset mortgage from June 2006. I am 25, looking to hopefully start a family soon.

So far between us we have been overpaying by about £700/Month. Although I think if we really tried we could perhaps scrape together another £300, it would be a very boring existance!

I expect that would change if we have a baby... so perhaps we whould make more of an effort now :eek:

Alion

Hi,
I haven't been around for a while as I'm only doing overpayments every other month, but just wanted to say we put £500 in last night and really feel like we're getting somewhere

Alion

aliwali

Hi all
I'm new here too. Before I found this site I was completely naive and didn't even realise you could overpay your mortgage!!! We are in the process of chaging out mortgage but are now faced with a £120 per month

aliwali

Sorry not sure what I did there.

Anyway even with this increase, I am still hoping to throw all my overtime at my mortgage this year. So I guess realistically I am looking to make an overpayment of around £1000. It isn't a lot but it seems really sensible to chip away at it and pay less interest in the long run.

I look foward to reading your journeys.
Alison

elantan

well the new isa allowance is out now and i have taken out the alliance and leicester one at 6.25% so that is gonna be my top priority i will ensure i am gonna save the £3,600 for this year but will still be paying off the mortgage as well unfortunatley i wont be paying as much off the mortgage as i would like but as i have already said (and as martin advises) i need to get me some savings ...i think i will need to drop my over payments to £100 a month but that is still a good amount (i hope) and if i manage to get the £3,600 in quicker i will ofcourse go back to putting more in

Sosh

Every little helps elantan. With my mortgage, a regular overpayment of £12 knocks 4 months off my mortgage, so imagine what your £100 a month is doing!

I can fully understand the need for savings, mine is an offset mortgage though, so my savings are also helping me pay off my mortgage. I'm just waiting for the day when they balance and cancel out my interest. That days a long way off I fear.