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photo credit: L i l a’s
There will be no overpayment this month. It’s took some decision making, and it means we won’t reach our 2008 goal, but we are holding off on the over payments until the New Year. We want to have more in our emergency fund due to the economic climate, and because things like the broken bathroom window can no longer be ignored. The whole frame is rotting and needs replacing before it falls out.
I’m not going to let this get me down, sometimes things just need to be done. At least it’s given us a chance to see just how little the new mortgage reduces when all we pay is the normal payment.
Payment: £862
Interest Charges: £574
Mortgage reduced by: £288
Current Mortgage Balance : £126,924
{ 13 comments… read them below or add one }
Things happen and we have to fix them! Just be happy that you could make the regular payment this month. There are thousands here in the US that can’t make their regular payments! Scary, scary times! You are doing a great job and your move to Portugal will happen!!
Kristina
As anonymous said, some can’t even manage their minimum payments let alone fix a window too so things could be a whole lot worse. I’d like to pay off more on my credit card debt too but there are a few other things I need to spend some money on this month so it isn’t going to happen and with Christmas coming up, I doubt I’ll be able to save much either. BUT, I’m still a lot better off than some so I try not to complain.
hi kristina and sharon..this post wasn’t meant as a complaining post. It was simply about not overpaying the mortgage, which is what my blog is all about
Hi there-keep up the good work my dear, hopefully from next month you will be able to start your overpayments!!
Well done you for making changes that are right for you! You’ll get there!!
Hi Laura,
Have you considered looking on
ebay?
There’s loads of pvc windows in the link…
I remember Lizzies post where she showed us her ebay windows!
I don’t know how easy it would be but even if you paid a local handyman to fit it it would save you a lot….
Just a thought!
Other than that, I hope you get back on track soon,
I know you will
You have to do what makes you feel most secure – the savings could always be part of a larger overpayment later on when you feel ready.
I also think that looking after your home and putting in a new window could be classewd as an investment as you are preserving your property.
I suspect a few of us will be holding back to see what happens! We are still saving what we can (and feel very thankful that we can at least for now do that) and will make the next payment when we are feeling more confident that it will be the right move. It is more difficult though with the gas and eec prices so high!
You will get there and so will we! It might just take a little bit longer than we anticipated that’s all! (((hugs)))
I didn’t mean to make it sound like you were complaining! I know you’re not!
I was just making a statement at how bad it is over here for some. Keep up the good work!
Kristina
It’s a good strategy. Following progress for a while now and I know you will get to the finish line. Just a matter of when.
J
And just one clarification. Didn’t mean to imply that you should have a better job because you should be doing your current job. That’s just a shortcut to thinking. What I meant was that you clearly have talents that would take you a long way in another line of work that probably don’t translate as well in what you do now.
I say do what you want, do it well and do it for as long as you think it makes sense.
Take care,
J
http://adventuresinvoluntarysimplicity.blogspot.com/
Hi, Laura.
I’m so glad you liked the story about the Family Smudge!
I LOVE your goals and your website is such a smart way to track them. Keeping goals front and center is so helpful to not getting off course.
Hm, maybe I should start a similar plan…
I can see where you are coming from, in delaying the mortgage overpayment you are delaying your dream.
You are doing everything you can to make this dream happen so therefore it will happen, just hold on to that thought.
You asked about my blog headers. Yes they are easy to install, especially on blogger, if you go into ‘layout’ you will see the box for the header just click ‘edit’ and search for the header that will be saved on your computer and upload it, simple as that.
Racheal x
thanks everyone
teagen…having yours goals written/printed everywhere really does make you focus.
Thanks for visiting
thanks racheal…it just made me feel like we were delaying, but we’re still going in 2012, even if the mortgage is not gone