I can currently afford to save 950 a month. I live in constant fear of losing my job as I am so frazzled all the time with ds but so far so good… ds is 15 months.
Ex pays decent maintenance and so far this has covered all DS’s expenses including nursery.
Im aware both my job and or maintenance could change at any time, so I want to be realistic. I have so far been saving the 950 a month and have 17k. However I have a huge mortgage. If I put the 950 into my mortgage every month, then in 3 years I would owe 185k on a 560k home. Would it be silly to do this and not have cask available? I feel so stressed about the mortgage and would love to only owe 185k by age 40. But I feel I’m in such a worrying situation as a single parent. Do I just accept I will always have this massive debt or would you risk less savings and plough into paying off?
AIBU?
Is this a risky plan as a single parent?
Singlepp · 17/04/2024 14:01
Am I being unreasonable?
185 votes. Final results.
POLLMidnightPatrol · 17/04/2024 14:10
Liquid assets > illiquid assets in your current position.
What’s your mortgage rate and when does it end?
You can always pay a chunk off your mortgage in 3 years with the cash you have saved. Invest that money in a S&S account rather than keep it in a bank account.
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