Anyone with an eagle eye would have spotted that I missed my regular post on my mortgage overpayment for August. That was because August became a very expensive month after I needed to get some work on my car, so my overpaying was on the small side. So small in fact that the blog post would have been about 100 words XD

I decided to combine it in with September, which had fewer emergency expenses and therefore let me sweep up some extra pennies when I reviewed my accounts. I also had a bigger expenses claim in September, which helped bump up the payment.

So without further ado - in August I managed to overpay £45.41, which was a lot less than my target of £60 a month :( As I mentioned my car needed some work, and I was loathed to move too much money out of my savings to cover it as I'm trying my best to keep money in my savings account than constantly move more out of it.

But on the plus side in September I overpaid £70.96! I ended up with a £25 expenses claim due to a bunch of things we needed for the office at work, and I was so careful with my money during the month that I was able to do a large sweep at the end of September which added an extra £12 on to my payment.

I haven't been very good about listing things on eBay and Facebook selling pages the past two months as work has been getting very busy. I'm hoping I'll be able to find some time in October and November to get back to listing things and go for some bigger payments towards the end of the year!

A week off in July

After a very busy period at work, and my last week off being for my honeymoon back in April, I was very relieved to have a week off this month. Well, technically it was four and a half days, but it was still time off work and I was grateful for it as my brain was starting to get a bit bogged down!

Monday

This was the half day part of my leave. Popped in to the office in the morning, which might have been a bit daft as I have a long commute (live near Colchester and work in Cambridge) but I had things to sort out around the office. Once I'd done everything on my list I then started my holiday by driving over to Cambridge's Grafton Centre, had a little lunch in Bella Italia (I had two starters, pork and beef meatballs in tomato sauce, and carbonara croquettes, delicious!) and then strolled around the charity shops outside the centre. I managed to get some DVDs and a nice top, so my next charity shop haul post will have some good bits in it! Keep an eye out next month.

Started the week with a good book!

Once I'd worn my little legs out with all the walking I drove home and had the rest of the afternoon with a nice cup of tea and a good book, heaven!

Tuesday

Sadly my car needed work done so I dropped it off at the garage Tuesday morning and spent the day confined to my town. But that's not too bad as the town isn't huge and the walk down the high street to the river is quite pleasant. There have been some changes in bin collections recently, which mean that we can now get free sacks for garden waste! Excellent news as they were £3.50 before. But you can only get them if you fill out a form online and get an emailed voucher. Unfortunately having jumped through the respective hoops, I got to the Town Council offices to find that they had run out of garden sacks.

Quite frustrating but there you go. I was asked to phone on Friday to check if sacks had arrived before walking down, and I walked back home to spend the rest of the day reading my book, playing online, and planning what to do with the rest of my week. I intended to go for a drive up to a village called Coggeshall, but when I went to pick up my car they showed me where my suspension coil had snapped! Not good, so I had to book the car in for Friday for more work and be careful with my driving for the rest of the week.

Wednesday

Mirror for £4? Yes please!

Despite the car trouble I used Wednesday to drive in to Colchester and have a long walk around. I popped in to numerous charity shops but sadly couldn't find anything I particularly wanted to buy, not even a book or two! However I did manage to get some nice hanging baskets from Wilko, for our garden, and a bathroom mirror for only £4! We've been really struggling to find a bathroom mirror we both like, so at only £4 I figured this will be a handy placeholder to use, and then we won't rush in to buying something we don't like just because we need to fill the space.

I also managed to get some nice birthday presents for one of my sisters. Her birthday isn't until September, but I think I might have all her gifts sorted now, getting that done early is a big bonus!

Thursday

I decided to call off my trip to Coggeshall due to the car problem, and instead went up to Marks Tey. I drive by Poplar Nurseries here every day, and it looks like such a big garden centre that I've wanted to go inside for months. Now I had my hanging baskets I decided it was time to get some plants and get gardening!

I wasn't disappointed, it was a lovely big shop. I spent quite a lot of time mooching around the "grow your own fruit and veg" section before coming to my senses and realising it was far too late to be planting tomatoes and strawberries (but I'll try to find a budget for them next year) and instead wandered over to the outdoor section to see what flowers I wanted. I knew I wanted some lavender plants, and then something nice for the hanging baskets. 

Tiny lavender and little petunias!

But there were so many other beautiful plants that in the end I had to go eat some lunch as I was just wandering around in circles trying to work out what I wanted to buy. After filling up with a lovely cheese scone and a nice cup of tea, I had my head on straight and went back out with a trolley. Three small lavender plants for £1.50 each, a box of six dark pink petunias for £4.50, two small trough pots, and two bags of compost, and I was ready to come home! Buy not before I popped back in to their farm shops to get two enormous slices of cake for me and my husband (chocolate loaf for me, carrot and walnut for my husband). I really liked the nursery so I think a second visit is on the cards so I can write a proper review of it!

Once I got home I got everything potted up and placed, ready to surprise my husband when we came home. I ended up putting two petunias each in the hanging basket, and the other two in the smaller trough. The three lavender plants fitted nicely in the larger trough, despite being quite small and spindly. I've been told in the past that lavender can get quite larger so hopefully they'll grow a bit and won't stay quite so small.

Friday

Car went back in the garage in the morning, and then a quick call to the Town Council meant that I could hurry down and pick up some newly arrived garden waste bags! Then all I had to do for the day was wait for the call to say my car was done. I decided to use the time to sort out my clothes, we out our wardrobe from IKEA back in June and my clothes were still in bags in the spare room. I sorted through them I realised there was a lot there that I hadn't even missed despite not seeing them for a few months. I ended up filling a few bags to donate to a charity shop and then hung up the rest, so now all my clothes are sorted out and the spare room looks a lot clearer!

So that was my somewhat productive week off! I didn't get as much done as I'd intended (sending off more forms to change my surname for example) but I'm especially happy about getting the plants sorted. Gardening doesn't come naturally to me so getting plants potted is an achievement to me!

My next week off is at the end of August, and since this week off really wasn't long enough I'm really looking forward to it XD

Preparing for winter

Yes, I know, preparing for winter in the summer sounds a bit daft, at the very least I should probably wait until September. But we all know how quickly a month can go by, and since I've had a few days off work in July, and have another week off at the end of August, now seems like a good time to get a few things ticked off to get ready for the colder months!

Even if it doesn't snow we should get frost!

Car prep

It's not just getting the car through the MOT (mine is due in November so I have to get any problems sorted in the summer anyway), it's making sure that if you get caught out by the snow then you have things in the car that will help. Along with my wellies (which live in the boot of my car from autumn onwards) I also have a little bag with some extra thick socks, gloves, a scarf, a woolly hat, an energy bar, and a torch. Should I find that I have to abandon my car at the bottom of a hill and walk the rest of the way home, I'll be a lot more comfortable doing that walk with multiple layers and some food in my stomach!

My Dad had to walk home from the nearest town several times over the years, and every time it happened he wasn't prepared for it and had to do the walk in smart work shoes! Even if you don't drive, get your other half to prepare a little kit to go in their boot, just in case!

Food prep

I'd love to make some jam but it sounds difficult XD

I doubt we'd get snowed in to the point where we can't get any food, if only because there's a One Stop 5 minutes walk away. But I find that the winter calls for more homecooked food, in the summer I can throw together a cold Tesco quiche with a salad and some oven chips for dinner after a long day, but when you've just got through the front door in January a cold quiche isn't going to cut it.

Since we've moved in I haven't got round to doing as much batch cooking as I would like, so my plan is to top up our stocks of bolognese, and add some more chili and a lasagne or two. We went to IKEA last Saturday and restocked on meatballs, and I've already done a batch of half a packet with some tomato sauce (we had a taste test for dinner and they were lovely!) so that's safely tucked away in the bottom drawer of the freezer. I'm also going to keep an eye out for some more yellow sticker food in the supermarkets so they can be put straight in the freezer after purchase and will make a nice quick hot dinner in a pinch.

One of our wedding presents was a slow cooker, so I'd also like to do a few casseroles as well. But that may have to wait until autumn as I don't think a nice beef casserole will be a great thing to eat in the middle of August XD

Stocking up the medicine cabinet

With winter comes colds and sneezles. One of the worst feelings is to get up with a bad headache, head to the medicine cabinet, and find that there's no Neurofen left. So I've started to stock up with headache pills, Lemsip Cold and Flu capsules for me, and the Lemsip drink for my husband. I'm not a fan of the drink as it always makes me feel a bit sick, so I'm happy to take the pills instead.

I've also now signed us up to our local GP, several months after we moved to the area XD But it now means that if one of us falls ill with a chest infection or the like then at least our local surgery will have our medical records and we won't have to fill out extra paperwork to get an appointment.

Need some more blankets too!

Around the house

Because we've only been living here for four months, there's still quite a lot of things we need to get done around the house. Recently we've been focusing on things like decorating and furniture. But we know that our central heating needs some work (a lot of the radiators don't heat up properly), and the gutters at the back of the house are partly blocked. Since winter brings with it cold weather and rain, these are things we really need to get sorted out before it gets too cold, so booking some companies for quotes for the work is definitely on the table. Oh, and I also need to stock up on some nice warm blankets!

Hopefully this has given you some ideas on how to prepare for winter. What do you want to do for the season?

Mortgage Overpayment - June 2017

If you haven't seen my mortgage overpayment series, you can check out the other posts here.

This month's mortgage overpayment is once again a little small, I've struggled to sell things I've listed on eBay (to be fair they're in a saturated market) and I haven't had much time to dedicate to finding other things to list. My initial optimism didn't pan out unfortunately, but I'm still happy with the overpayment we made this month.

My expenses payment for this month was £22.29, which is fairly average at the moment. I also cashed out £10.28 from Quidco, which was left over from some more house things (including getting our washing machine from Currys and our fridge freezer from AO!).

But in between those two sources, and the standard £30 we have built in to our budget, this month was very slim-pickings. My work had a very big event at the end of the month, and much of my June was mentally occupied with "I need to email some more details to the venue, ask about the choices for the lunch, send out the invoices for the tickets, did I remember to tell my manager about this problem that came up? I don't think I did, I must remember to do that tomorrow", and all around my regular work tasks as well! The day after the event was great as my brain suddenly felt clear!

I was so caught up that I didn't even round down the final mortgage total at the end of the month. Now the final column of my spreadsheet looks uneven XD In total we overpaid £62.57 in June!

But the good thing about the work event is that it was held in London and I'm allowed to claim my (horribly expensive) train ticket back on expenses. This means that next month's expenses form has been very large, and will lead to a very generous overpayment! I also have next week off work, so I'll have a scrabble around for some more things to eBay during the week.

Why we're overpaying our mortgage

You may have noticed from some of my posts that since buying our first home back in December, me and my husband have been overpaying our mortgage. We deliberately built a £30 monthly overpayment in to our budget when we were originally planning a mortgage, and this is then topped up by cashback from Quidco, counting up money from penny jars, setting aside my expenses from work, or selling stuff we don’t use or need on eBay. My aim is to be able to double that £30 every month, and so far I’ve managed to hit that target consistently!

Telling people we’re overpaying generally leads to them going “Oh that’s a good idea!” followed by a pause and then “…but why when interest rates are so low?” It’s a good question, I certainly don’t know anyone offline that’s doing this as regularly, but it’s something we were both keen on doing for a variety of reasons.

1. We both hate debt

I still have a student loan, because like many students who graduated in 2008 I found it very difficult to get a well-paid job straight off the bat. Instead I found myself as the proud owner of two degrees and a job as a cashier in a supermarket, followed by various part-time contracts and an attempt at self-employment until I landed my first full-time role at the age of 24. But I don’t like being in debt, and neither does my husband. Having a debt of £160,000 is quite scary when you think about it, and given the uncertainty in the economy (especially with Brexit) we’d like to pay off extra while we can, before interest rates start going up!

2. Reducing the LTV

We found it difficult to get a mortgage in the first place because my current role is a contract. Admittedly at two years and with guaranteed full-time work it’s better than a zero-hours role, but it’s technically temporary nonetheless. We had a decent deposit saved up by my OH, which gave us an LTV of 85% (LTV is Loan to Value ratio, so how much you’re borrowing compared to the value of the house. We had a 15% deposit, so our LTV was 85%). This really helped us get a good mortgage rate despite my contract situation, and taught us a valuable lesson about how important a decent deposit can be. We have a 5 year fixed rate, by the time we’re due to re-mortgage I’ll probably have a stint of maternity leave which will have affected my earning potential, and given the risks to the economy we suspect that rules about mortgages will be significantly tighter. So reducing our LTV will hopefully help us in the long run, and might also make it easier to move up a step on the ladder when the time comes for us to find a bigger house.

3. It’s seriously addictive

I have a spread sheet that tracks, among other things, the daily amount of interest earned, the total amount we’ve paid per month, and the amount we owe to the bank. It’s set up for the next 5 years with our standard monthly payment, and then I can type in how much we’ve overpaid in a particular month and it will recalculate everything. I’m not going to lie, it’s really addictive. As soon as I send my expenses form in to work I make a note of the total, then when I go home I type it in to the spread sheet to see the effect. Same with filling up a bag of change, or getting a notification from Quidco that we can cashout.

The effect so far has only encouraged me to keep going. When we first got our mortgage we were earning £12.01 a day in interest. We would have hit £155,000 owed in May 2018, and would have dropped under £150,000 in September 2019. You'd think that we would need to be overpaying hundreds of pounds every month to make a difference.

So far (it’s only May after all, and we made our first overpayment in January) we’ve overpaid by £490.88. We’re now due to fall under the £155k mark in February 2018 (although my aim is to hit it by December), and will be below £150k in July 2018. Our daily interest rate is currently £11.88 (still a huge amount per day I know!), and will fall below £11.50 a day in October 2018.

It just goes to show that you don’t need thousands in the bank to pay off your mortgage, just small regular payments can make a big difference!

Mortgage Overpayment - April 2017

Yes, it's true, despite spending April getting married and then going on honeymoon, we managed to make a mortgage overpayment at the end of the month! 

Who lives in a house like this? XD

Actually we managed to hit a new record in April as we overpaid £206.26!! Quite a bit more than I was anticipating, I thought we'd be lucky to hit £100 this month as all our energy and attention was going on the wedding. I was even eyeing up my change jars early in the month as I was sure I'd need to have a count up just to be able to send off a reasonable amount.

However Quidco once again stepped in to save my metaphorical bacon. I received a payout of just over £21 for buying our buildings insurance through them back in November. You need to have buildings insurance when you exchange contracts on your house purchase, this payment had been pending for a while and it was nice to finally get it.

Then out of nowhere I received confirmation that my cashback for signing up with our broadband provider had arrived, a whole £100! I'd nearly forgotten to go through Quidco in the first place. If I'd missed out on this then I would have been quite annoyed. Normally it takes months for cashback to be paid, so getting this in around 6 weeks is extremely quick and was a very pleasant surprise!

I also had a healthy expenses payment of just over £43 from work, I had to buy some special envelopes for some bits we were posting out so that helped bump that up too.

I don't have any big payments left pending in Quidco, just smaller amounts from Argos and Currys from buying bits and pieces for the house, which are mostly due in May and June. I think my next expenses payment will be smaller too as I've been off work for a week. But my penny jar is looking very full, so May might be a good time to count it up and pay it in!

Mortgage Overpayment - March 2017

Given that we're now well in to April this post is a little late. But that's not because it's bad news! Actually March was very good for overpaying, in total we managed to throw an extra £129.50 at the mortgage!

A big chunk of this was from Quidco as I got a hefty cashback payout from taking out my breakdown cover with the AA through them. Not being particularly technically minded I find it quite reassuring to know that if I lose a tyre then I just have to make one phonecall and competent help will be on the way. The money was actually meant to be confirmed in February but ended up being delayed, so it was nice to get it in March instead.

Another sizable donation was from my work expenses. My OP in April is already going to be be quite large thanks to extra expenses, but in March I had to buy a very large box of teabags as well as a lot of milk, I tend to be the first person getting through the door in the morning so I generally need milk for my tea before anyone else.

I'm already collecting together the figures for April, and let's just say that if the months continues as it started then I'll be very happy with the overpayment at the end of it!

Mortgage Overpayment - Feb 2017

We've only had our mortgage for a few months, but one thing we agreed about early on was that we wanted to overpay it as soon as possible. We started repaying the mortgage in January, and made our first overpayment at the end of the month. Yesterday was the last day in February, so it was the ideal time to make our second overpayment!

Our overpayments consist of a flat £30 payment that we worked in to our budget. To that we add little extras we get over the course of the month. This can include cashback from Quidco, bags of loose change we count up, my monthly expenses claim from work for buying things for the office, money saved from spending less than budgeted, and money from having a clearout on eBay. I also check my current account regularly and round down the amount I have in the bank to the nearest £5 or £10. So if I had £37.20 then I'd move £2.20 to go to overpayments, leaving £35 in my account.

In February our overpayment was £64.14! I have a really great spreadsheet where I can track the impact that our payments are making. This is a great motivational tool, it took a good 40 minutes following very detailed instructions to set up properly, but it was worth the time.

The spreadsheet means that we can set ourselves goals that push us a little further, but which are realistic. For example we realised that if we overpaid by £60 a month (so if we managed to double our baseline £30 a month) then we would have paid off £5000 by February 2018. That was enough to push us to go a bit further and try to hit £5000 by end of 2017. 

On the other hand it's a bit of an eye-opener, we are currently paying over £11 a day in interest! We're on a pretty good rate too, but seeing that number really made us realise how much was going straight back to the bank. No wonder they consider mortgages to be easy money made!

We'll see how much we manage to save in March - my change jar is looking quite heavy!