Dear reader,
Big man and I bought our house last March. We are no financial whiz kids but we know our interest rate, the years we have left and how much we pay per month.
We are extremely keen to overpay when we can afford to and reduce this as well as saving a substantial amount of interest.
While at work, Big Man and his colleagues were discussing house purchases and mortgages and he told them about this link to work out how much you can save by overpaying,
http://www.moneysavingexpert.com/mortgages/mortgage-overpayment-calculator
How shocking is this: None of them knew about over paying, one of them thought you got penalised however much you over paid, none of them knew the interest rate they had signed up to, a few of them didn't even know how much they pay each month. One of them was paying interest only and had forgotten this didn't pay back the capital and one of them had a 10 year longer mortgage than he realised.
These are the same people who holiday abroad, who feel hard done by if they don't eat out, who insist on designer goods and clothing and all the latest gadgets. They mock me because I don't have an up to date, trendy mobile phone that tells me when to change my socks!
They can tell you the exact price of the new Fruit named phone due out and all the rest of it.
One of them actually brags that his girlfriend expects designer gear for her birthday. Is that something to be proud of?
I was proud of my boyfriend today, he knows all the important things about our mortgage and that his girlfriend only wants a kiss on her birthday.
She who laughs last, laughs longest!
On a nicer note, my food shopping is lasting well. Made one chicken do 3 meals for the two of us.
Cooked it on Sunday and had a roast dinner, did loads of veg, roast spuds, yorkies. Plated up 2 more of the same meal to have on Monday evening. Saved a breast and chopped it up with red pepper, mayonnaise and salad for lunch today. Very pleased.
Do have a look at the overpayment calculator, it's any eye opener.
Have a great evening readers.
Sarah. X
I have no mortagage but i know when i get one i will know whats what and will not be robbed by the banks. I always think that peoples priorities differ. MSE is brilliant.
ReplyDeleteHi New World,
DeleteThanks for popping by. I love MSE too, I always hate looking at the interest they make out of mortgages.
Glad to hear you sound switched on as well.
Good luck and you have me as a new follower too.
Sarah. X
A little quantity of people has enough savings or irrigate possessions to consent them to buy wealth sum.Mortgage
ReplyDelete