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  1. #1

    My Own Little Slice of Paradise

    I bought my first home in November 2015. I had a large deposit (from a decade of saving, inheritance and gifts from family) and got a tracker mortgage with a great interest rate. I want to get it all paid off ASAP. However I also want to do some home improvements and also hopefully start a family soon. On a single income this is quite a challenge!

    My current goal is to put 200/month into a regular savings account (which has a higher interest rate than my mortgage), then use this to pay down the mortgage when the rate on the savings account drops. If I can achieve this goal, I will pay off the mortgage just over 10 years early!

    I have made myself a motivational spreadsheet which shows what my mortgage balance should be each year if I pay it off over 25, 20, 15, or 10 years in total, so I can tell if I'm on track or not.

  2. #2
    Happy shiny new diary

  3. #3
    Good luck, fellow today diary starter!

  4. #4
    I've just started my diary recently too. Welcome, sounds like you have a great plan!


 

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