Single mum - sink or swim!

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Comments

  • thewalrussaid
    thewalrussaid Posts: 106 Forumite
    Debt-free and Proud!
    Hi Sellotape,

    Thanks for posting on my diary. Have read through yours and will subscribe and read on with interest. Good luck :)

    Walrus
    Current mortgage as at start of diary 14.08.15 - £245,990.00
    Mortgage balance as at 04.01.20 - £123905.51
  • selloptape
    selloptape Posts: 632 Forumite
    First Post Combo Breaker First Anniversary
    A very dreary day here and I've not felt like doing much, the plus side of this is that I've not spent anything :D

    Just been thinking about how to manage OPing and have decided I'll keep a tally of £ earned/saved throughout the month and will pay in a lump each month. So I've done one for Oct and now working towards November.

    The reason being that my bank have told me not to OP to near my regular mortgage payment as this will make them reject my mortgage payment DD. Also I have to call to pay each time I OP and this seems to take ages. Hoping for a better bank when my deal is up next year :)
  • hiddenshadow
    hiddenshadow Posts: 2,525 Forumite
    selloptape wrote: »
    The reason being that my bank have told me not to OP to near my regular mortgage payment as this will make them reject my mortgage payment DD. Also I have to call to pay each time I OP and this seems to take ages. Hoping for a better bank when my deal is up next year :)

    I hope so, that sounds ridiculous!

    Still, awkward OPs are better than none at all. :D
  • smallholdingsister
    smallholdingsister Posts: 4,018 Forumite
    hiddenshadow wrote: »
    I don't understand this question. :undecided What do they expect to hear, that the Mortgage Fairy came and sprinkled interest-free dust while you were sleeping? :rotfl:

    She flatshares with the weightloss fairy.

    Sellop welcome and good luck. Great advice from Gally about "intentionality".

    You might like mrmoneymustache if you are agnostic/atheist and Dave Ramsey if you can listen to a VERY evangelical Christian.

    Have been a single parent with a mortgage so I understand some of the challenges.

    all the best,

    SHS xxx
  • sarahevie1
    sarahevie1 Posts: 630 Forumite
    First Anniversary Combo Breaker First Post Mortgage-free Glee!
    Just remember for most its a marathon not a sprint, any overpayments make a difference.

    Good luck, it can be hard on your own, but equally you are in ultimate control
    HOME
    Original mortgage free date Nov 2037
    Mortgage free August 2018
    Additional properties
    Mortgage 1 £108,000
    Mortgage 2 £45,000
    Teacher pension - DB scheme
    LGPS pension - DB scheme
  • selloptape
    selloptape Posts: 632 Forumite
    First Post Combo Breaker First Anniversary
    Hiddenshadow - very true, anyone would think they wanted me to stay in debt ;-)

    Smallholdingsister - they probably car share as well seeing as neither of them can find my house :rotfl: thanks for the recommendation, I'll check them both out

    X
  • selloptape
    selloptape Posts: 632 Forumite
    First Post Combo Breaker First Anniversary
    sarahevie1 wrote: »
    Just remember for most its a marathon not a sprint, any overpayments make a difference.

    Good luck, it can be hard on your own, but equally you are in ultimate control

    Thanks sarahevie... It surprised me but having control has been a relief so far spite of being a lot poorer since becoming single:) probably because my last boyfriend was a complete control freak and my sons dad prior to that had loads of secret debt. Enjoying making my own decisions now :)
  • BookWorm
    BookWorm Posts: 2,464 Forumite
    First Anniversary Name Dropper Combo Breaker First Post
    Hi Selloptape - just wanted to stop by to say hello and wish you well on your MFW journey :)

    BW
  • Dalradian
    Dalradian Posts: 165 Forumite
    First Anniversary First Post Combo Breaker Mortgage-free Glee!
    edited 19 October 2015 at 9:31PM
    Hi,

    You seem to have a sensible plan - stick with it and overpayments will be achievable. I also have a (same?) bank that doesn't like overpayments near payment date as it confuses them. In this day and age, a computer says no.....quite ridiculous.
    Mortgage 2020 ~£127,000
  • selloptape
    selloptape Posts: 632 Forumite
    First Post Combo Breaker First Anniversary
    Hi BW and Dalradian... Thanks for popping in :)

    Got my cashback and interest from Spanish Bank today so will keep that by to add to Novembers OP, grand total of £19.11!

    Lurking on here has reminded me that I used to have a YG account, I'm sure it was nearing £50 so I'm going to try and contact them tonight to see what's happened to it.

    Hope everyone is well x
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