Well there's a title guaranteed NOT to be clicked on!!
But that's my starting point on shifting the millstone of my mortgage. After yesterday's post about my renewed enthusiasm, this is my first step to making changes.
So. (in a Will I Am fashion). I've downloaded a budget spreadsheet from www.moneysavingexpert.com and filled it in. I used the spreadsheet version so I don't have to be online to view it. But there is an online version you can log in to as you wish.
My conclusion...reduce outgoings and increase incomings. Not rocket science and quite frankly, I knew that already.
Well money god Martin Lewis always says pay off debt before you save. So good news for Next, you're first as I can pay you off in one go. How? By shopping at Aldi rather than getting my shopping delivered from Tesco. More about that in next Saturday's post.
For those with larger debts to pay off, a sensible and achievable amount is 10% on top of your monthly minimum payment. When I last payed off a credit card I paid..
Minimum monthly payment + the interest added that month + 10%
It made a massive difference.
And when you've paid it off, that amount can either be paid off your next debt or saved to pay off the mother of all debts - the mortgage.
So anyone with me so far?
The less daunted and still enthusiastic Claire