I’ve been aware of MSE, and it’s forums for a VERY long time (since my early twenties) - but this is my very first post!
I’m going to be 30 in a few short weeks, so we’ve been having discussions more about our future. We only bought our first house in August 2019, but already we want rid of the mortgage! The thought that if we only pay what we are meant to each month, then we will pay it off in 2053(!!) is pretty awful.
Budgeting is tricky though, as we keep separate accounts, with a joint account for the household expenses. We each contribute a fixed amount into the joint account, and the rest of our pennies are our own. I’d ideally like to do this without having to increase our contribution (but know realistically that we will have to at some point - just don’t think he’s ready for me to start that!).
As of today, our current mortgage balance is £108,507.10
We have overpayed by just under £50 every month since we took out the mortgage, and this can easily continue. I’d just like to start putting a bit more in there too!
mortgage start date 08/19 balance £112,500
01/21 total OP: £751.52