Friday, August 17, 2012

Saving Up Again!

I have been doing some calculations with regards to our mortgage. We got a statement for our mortgage and it showed how much we owed and how long we had to pay it off. I then calculated how much we would need to put away each month in order to be able to pay it off each month. The amount was £560. We are currently putting away £600 a month, which sounds like we are well on target. However, we will probably need a new car in the next 14 years and so that will take some money out of the equation. I did not take out how much we have saved so far though, so that will make quite a difference but I think it is better to just keep on investing the large amount of money, as then we will be well covered. Also we need to stop buying expensive things like loft conversions, carpets and furniture! I will also be scrimping again on gifts and things especially on the direct family so there will be no shopping for mens diamond rings for anniversary gifts!

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