Onwards and downwards...

HairyHandofDartmoor wrote: »

How do you calculate the amounts for your daily PADs? It's been puzzling me for ages

The mortgage is rounding down the account - interest is added daily, so I check my balance each time I'm doing a PAD and round it down. My interest is currently £6.87 a day, so I round down the £1.87 as I can't afford to do the whole interest amount (I'd love to though!). It obviously varies a bit if I've missed a day or two.

Then I look at what I've got left available to PAD, generally rounding my bank account down to the nearest £5. I send whole £s over to the debt savings, and then the odd £ and pence to the emergency savings.

lindez wrote: »

Hi jwil, I came across your diary. You have done amazingly well congratulations. I need to take your enthusiasm for de-cluttering and moving forwards with your debts on board. Thank you for sharing your diary.

Hi lindez, thanks for popping in Do stay around. Do you have a diary?

Spotted that all the Shetland books are on offer on kindle for 99p today. So I have bought the rest of the series I must have had a kindle credit as I haven't had to pay for all of them so even better :T :T

HairyHandofDartmoor wrote: »

Thanks Jwil that's very interesting. I'm tempted to start mortgage PADs myself.

I'd love to clear the mortgage, so doing it this way just means I don't notice the small amounts. If I manage to do it every day, it's almost £60 a month :T

HairyHandofDartmoor wrote: »

The Shetland books are really good and not paying for them is even better

I'm looking forward to reading them, I loved the series.

redofromstart wrote: »

I do love it when kindle credit covers my purchases.

Love the logic on the PADs. I like tidying to round numbers so the mortgage goes down once a month to the biggest whole number I can afford, and then whatever I have left rounds up the savings pots to a whole number so its the actual current account that isn't a whole number. I have yet to buy something specifically to round that account but I have been tempted Actually I might start doing the odds and sods to the boys savings as I can't see those

Even better when you didn't realise you had any credit :T

I've spent so much time trying to figure out which account should be a whole number :rotfl: I've finally got to a stage where I'm happy with it. I like my current account to be a whole number. I do get tempted to spend to mean I've got something to round down, but I don't Once I do the mortgage overpayment, there's always 'change' to round down anyway.

I never see the mortgage as a whole number as by the time I log in the next day the interest has been added again, but I know it's going down.