How to live your best life while paying back your mortgage
Brought to you by permanent tsb
Saving for a mortgage is no mean feat.
You've tightened your belt to breaking point, taken a vow of poverty, survived on beans and toast and your social life has been reduced to a few cans in front of the telly (basic package, obviously!).
It's all been worth it, though, and you've finally got a place you can call home. Now it's time to let your hair down and start living again.
Choose a mortgage that supports your lifestyle
Some banks give you a lump sum back in cash as soon as you draw down your mortgage so you'll have some extra cash when you need it to spend on home improvements or a well-earned break. Others give you a little something back each month to spend on the thing you enjoy doing, like going to the cinema, watching your favourite bands or getting away for the weekend.
Keep saving as much as you can
Your mortgage repayments may well be less than what you were previously paying in rent. If so, congratulations! Enjoy that little bit of extra cash. Now that you've got into the habit of saving, try to keep it up. With the house saving finally out of the way, you can now start saving for the fun stuff - like that holiday you've been putting off for the last few years.
Make staying in the new going out
You'll want to show off your fab new gaff so have a dinner party. Why not suggest doing a Come Dine With Me-style night with your friends, where everyone takes a turn to host? That way everyone gets four nights out for the price of one and it's a great excuse to get the gang together.
Do the things you love for less
Eating out can be expensive but you can save a fortune if you know where to look. You'll find lots of great deals on fancy restaurants on The Taste and pigsback.com and you'll also find plenty of options for cheap weekends away (if you can bear to leave your beautiful new home, that is!).
Host a clothes swap party
Wardrobe bursting at the seams but still have nothing to wear? We all have clothes cluttering up our wardrobes that we don't wear but we can't bear to throw out - that dress that you'll fit into when you're slimmer, those show-stopping shoes that you can't actually walk in. Why not declutter and refresh your wardrobe at the same time by having a clothes swap party with your friends? Everyone gets rid of their old clothes and gets a whole new(ish) wardrobe into the bargain - it's a win-win.
Think you're too cool for coupons?
Think again! There's no shame in saving money on everyday items like groceries. Make sure to swipe that loyalty card too and earn points every time you shop. Some supermarkets let you trade your points for vouchers for meals out and weekends away so make sure you're a savvy shopper.
There are loads of little ways to save money that you don't even have to think about. Having a mortgage should not mean giving up on the finer things in life. All it means is that you have to get a little bit smarter about saving in those little ways.
Just think about it - you'll grow all those great habits and, in a few years, that mortgage will be gone and you'll have so many savings you won't know what to do with yourself. Talk about living the life.
Brought to you by permanent tsb
Check out our ‘Home Buyers HQ’ from saving to sale agreed, everything you need to know. If you're looking to start your own home buying journey you can book an appointment with the permanent tsb team today.
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