+ Reply to Thread
Results 1 to 4 of 4
  1. #1
    Join Date
    Aug 2010
    Posts
    2,654
    Thanks
    736
    Thanked
    423
    Reviews
    1
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts

    Default Home owners

    I am redoing our budget as we recently sold land and will be purchasing a home.. which of course brings a bigger mortgage :-)

    If you are happy to share...
    How much disposable income do you have? Do you save into an account or do you put it all on the mortgage and redraw if needed? Or do you have an offset account?

    What works for you?



    *Happiness is not a destination, it's a way of life*

  2. #2
    Join Date
    Sep 2009
    Posts
    3,487
    Thanks
    449
    Thanked
    1,571
    Reviews
    12
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Offset accounts work for us, we save an incredible amount of interest that way and we can access our money as needed just like an everyday account.

  3. The Following User Says Thank You to MummaOJ For This Useful Post:

    blissfulfairy  (08-01-2014)

  4. #3
    Join Date
    Nov 2010
    Posts
    273
    Thanks
    16
    Thanked
    98
    Reviews
    0
    All into offset. Spend everything on the credit card which is paid off in full each month. Points give us enough for flight to US and back every 3 years.

  5. The Following User Says Thank You to Blackdomino1 For This Useful Post:

    blissfulfairy  (08-01-2014)

  6. #4
    Join Date
    Sep 2013
    Posts
    4,298
    Thanks
    8,254
    Thanked
    3,945
    Reviews
    1
    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    As above. We have an offset account. We were thinking of fixing our rates but it would of meant losing the offset account so we decided not too. Easy access to the money if needed and deceased interest. DH pay goes straight into offset.

    Disposable income? Mortgage is 1600 (250k loan amount) a month. Bills are 1500 which I pay With my income (we have separate accounts). When I return to work part time our combined will be 75000 so approximately half our income is disposable- disappears quickly in groceries, petrol etc. What is leftover stays in the offset each month. We are quite comfortable but will need to get a house (on a villa at the moment) as we want another kid so plan to spend 350k on a house within two years.
    Last edited by Little Miss Sunshine; 08-01-2014 at 08:02.

  7. The Following User Says Thank You to Little Miss Sunshine For This Useful Post:

    blissfulfairy  (08-01-2014)


 

Similar Threads

  1. Home owners...
    By blissfulfairy in forum Family Finances
    Replies: 29
    Last Post: 03-09-2013, 07:29
  2. Bugaboo owners - help please!
    By FlipFlop in forum General Chat
    Replies: 10
    Last Post: 15-01-2013, 18:59
  3. Cat owners- need advice
    By jez in forum General Chat
    Replies: 36
    Last Post: 15-01-2013, 08:27

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
free weekly newsletters | sign up now!
who are these people who write great posts? meet our hubbub authors!
Learn how you can contribute to the hubbub!

reviews
learn how you can become a reviewer!

competitions

forum - chatting now
christmas gift guidesee all Red Stocking
Softmats
With so many amazing reversible designs, the soft and cushioned Premium Bubba Mats are the perfect space for all the family. Not only do they look fantastic; you can also enjoy the quality and comfort for years to come.
sales & new stuffsee all
True Fairies
True Fairies is the first interactive website where children can engage and speak with a real fairy through the unique webcam fairy portal. Each session is tailored to the child, and is filled with enchantment and magic.
Visit website to find out more!
featured supporter
henry and grace
Summer Cool. We are the only brand in the world to use ultrafine Merino wool to produce the finest, softest & most luxurious garments whilst keeping mum and bub cool and dry. Wear them multiple times before machine washing-hard to believe, but true.
gotcha
X

Pregnant for the first-time?

Not sure where to start? We can help!

Our Insider Programs for pregnancy first-timers will lead you step-by-step through the 14 Pregnancy Must Dos!