Dear lord, I'm so sad...

abouttimetoo

Flower 72 hehe, at least we aren't alone with the sad thing ay:D

Fur156

I do the same thing.
How did you go about calculating your mortgage daily interest ???

abouttimetoo

Hi Fur 156, re your question about daily interest


I replicated my bank statement on excel e.g. column for dates, column for credits, (payments made), column for debits, (interest charged), running balance etc. I’m not sure how familiar you are with excel but I then added an extra column to calculate how may calendar days there were between the dates interest charged (doesn’t really matter about the calculation – you can just input the number, 30, 31 etc). In the last column I then just put a calc in dividing the interest charged by the number of days in the month. This isn’t precise to the penny as the balance changes during the month due to making a payment but certainly more than good enough to calculate daily interest.

Hope that helps

ailuro2

Or if you're not very good on Excel, you can work it out with simple arithmetic.

So, for a mortgage balance of £32 K being charged 5.5% interest......

32000 x .055 (for 32K at 5.5%)

equals £1760 this is the yearly interest figure at 5.5%

1760 divided by 365 is your daily figure

£4.82 divided by 24 is your hourly figure,

so it would be 20p per hour.:D

Every time you lose a penny an hour off the interest do something small to celebrate!
It comes around less often than every 1,000 pounds, so costs less.;)

Starz_Ceilings

I thought it was only me that had a £2 coin saving pot.

How wrong I was!!!

I started a £2 pot in April 2007. I did not feel that it was mounting up enough because I was not getting many £2 coins. So I started to put £1 coins in there too along with the odd £5 note. ( Cheating I know )

I saved up for a year and when I opened it 2 weeks ago there was £348 in it.

how pleased was I?

HC_2

Gillybean wrote: »

This MFW thing is getting me good...

I decided to start saving £2 coins, along with our usual chuck the contents of yer pockets in a change jar.

Well I'd only managed one coin so far, but today we went to a local farmers market and we got a £2 coin each in our change! I was itching to get home and get them in the piggy bank!

I need to get a life...:D

Indeed you do.

And so do I.

I have a jar of coppers that is almost full. It's quite stunningly heavy. Just another few months of emptying my purse of the little brown ones...

I reckon July will see us with a large Domino's pizza paid for by the 'blue pot'.

I think £2 coins might be a better bet in future! :rolleyes:

mum2one

My daughter raids all my loose change, 50ps go up for her to swim with dolphins when shes older, other change goes in tin for her saving, if its a quiet month, she might make £4.00 a month, just had 2 weeks away with my parents, between them and me, she came back with £40.00, (im going wrong somewhere..... surely it should be mine..... (only joking) x

IWasWondering...

Gillybean, when I read the title I thought you were sad iykwim, I'm glad you're not really sad, just moneysaving.

Starz_Ceilings

Starz_Ceilings wrote: »

I thought it was only me that had a £2 coin saving pot.

How wrong I was!!!

I started a £2 pot in April 2007. I did not feel that it was mounting up enough because I was not getting many £2 coins. So I started to put £1 coins in there too along with the odd £5 note. ( Cheating I know )

I saved up for a year and when I opened it 2 weeks ago there was £348 in it.

how pleased was I?

Needless to say I have already started another £2 and £1 pot to open in 12 months time.

Let's see if I can beat this years total :T

ailuro2

£348 in a pot in the house, earning no interest?? :eek:

Take it to a savings account every couple of months and you'll get even more money for it.;)

We keep DD's coppers and 5pences until summer and Christmas hols then bank them, since it's usually about £8 in change if she's lucky.