Paying off mortgage before 55 when single

Dalradian · 7 April 2015 at 6:23PM

Ouch! Most of my shares are from the demutualisation of SL so regard them as a bonus when i get dividends through, the rest are in a stocks isa which is spreading the risk for me. Hopefully my company sharesave scheme will return a reasonable amount when it matures later this year - i don't like the thought of so much of my investments in one place.

Dalradian · 7 April 2015 at 6:27PM

Did a bit of decluttering over easter - some old paintings and spare fabric went to the charity shop. Still have to get round to using the rest of my scraps i bought for a tenner to start learning to sew again. Maybe a pincushion would be good to start with? Or a patchwork.....something?

Dalradian · 8 April 2015 at 11:06PM

I have a 2 year cash isa due to mature end of march next year from newcastle bs. Is it worth paying the penalty in interest and using it to set against my mortgage - or into my stocks ans shares isa. It was the "top" rate last year but was really peanuts esp after tax

MM10 · 9 April 2015 at 4:06PM

I would keep it till it matures since it's in a tax haven. I guess you have to look at the overall plan. For instance the isa could double as your emergency fund in the meantime ....

Dalradian · 10 April 2015 at 7:50PM

i have money tucked away in high % current accounts that pay more than the isa. Since my income varies month to month and i can end up putting a lot on my credit cards for expenses, i am used to smoothing it out with having a cushion in my current account.

sarahevie1 · 10 April 2015 at 9:31PM

I'm also single and trying to be MF, I think it can be challenging alone, not least because there's no second salary

Good luck

Dalradian · 14 June 2015 at 12:11PM

A while since i posted but been busy at work. Managed to pay off another £1500 but a leaky toilet is moving up my plans to remodel the bathroom.

I have a couple of large sales months which should give me some money for overpayments if my bathroom ambitions are not too extravegent. Have compromised and not booked a summer holiday just yet.

Had a lovely night out on friday at a gallery opening. Nice way to see friends and, as long as you aren't tempted to buy anything, a cheap night out!

happydays_70 · 14 June 2015 at 1:26PM

Me too, with two kids in tow

Good luck!

Dalradian · 14 June 2015 at 1:44PM

Just dumped 4 bags of clothes, books and picture off at charity shop. Have a couple of coats and original maps, paintings i want to sell, but the 2nd hand market seems very slow in edinburgh - i sometimes have problems even freecycling as people want things pristine, or lots of photos and then never turn up!

Will have to get off my backside and value them and figure out where to post them. Gumtree is better for bigger items and no fees but haven't used ebay for a while

Dalradian · 14 June 2015 at 1:45PM

Hi happydays70 - good luck on your journey! It must be hard looking after the kids as well as keeping on top of work and finances

Paying off mortgage before 55 when single

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