£170000 in 10 years

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  • try_harder
    try_harder Posts: 1,527
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    Morning TM .Today i am writing lists as you do ,working out budgets and revising plans for 2017 ,next year i have decided to carry on with the £10 a week birthdays and christmas pot but to also try to cut down on my £46-48 a week food bill and put what ever i save from that into the same pot ,i can then reevaluate over the first few weeks to see if it is working .Yes luckily i had savings ,i am very thankful for that.
  • try_harder
    try_harder Posts: 1,527
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    We now have problems with one of our cars so looking very likely we will have to buy a new to us car before christmas ,depending on the costs of repairing it may not be worth while and better to put the money towards another one so i will be lucky if i have £10000 in savings going into the new year now but still very lucky that we had the money available .New figures /aims for the new year is £10000 in savings and £167000 mortgage owing ,aim to save £1000 a month in 2017 and overpayments on mortgage from what ever other means available ,i may need to get a job but aim is still to be mortgage neutural by the end of 2021 with savings and overpayments .All my workings out on paper i must say will all have to be revised now as i will be £3000 down potentially.
  • jodles16
    jodles16 Posts: 1,477
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    Howdy, yes we only have one car so decided to trade my old one for a very nice nearly new one, it is so economical and road tax free as well as no MOT for another year! We budgeted the car costs from our mortgage decreasing and it meant we could still OP which is good! We are in the high 168's, feels like it has taken forever until I look back at how much we have paid and then I feel pleased!Its definately easy to lose track of progress!

    Best of luck with your christmas buying and car hunting!

    Jodles :D
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • themadvix
    themadvix Posts: 7,826
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    Hi TH, that sucks about the car, but as you say, at least you've got the money to pay cash for it!

    Targets for next year sound good, I'm sure you'll make that £3000 up somewhere!
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • try_harder
    try_harder Posts: 1,527
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    Morning .Thank you jodies16,yes it was very lucky that i had the money saved or i would have had to borrow it so thats a plus.We had to tow the car back last night once the roads were quiet so it is now sitting outside awaiting its fate ,hopefully we will get £50-£100 for it scrap .Your car sounds great ours will be a cheapish runaround we have to start looking this weekend .Wow yes our mortgages are roughly the same we will have to motivate each other .Thank you themadvix i am so pleasedthat i have the money saved but at the same time disappointed to be spending it .i so wanted to start 2017 with the full £13000 but i am still very lucky to have £10000 ,even saying that sounds amazing to me having never had any savings before .i will try and share your optimisim thank you
  • themadvix
    themadvix Posts: 7,826
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    It is frustrating TH, I do feel your pain - it's easy to be blas! about it when it's not your money. But you've got to look on the bright side!

    Hope the sun is shining with you this morning - it is gorgeous here!
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • try_harder
    try_harder Posts: 1,527
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    Well not been a good start to the year for us ,one overpayment of just over £8 a week or two ago and no other savings this month and no overpayments ,problems with the roof that needed around £2000 spent on it ,luckily we had the money saved but my goals and targets have all suffered sadly .Never mind ,heres hoping i can get back to normal after this week .Love reading through everyones diaries ,they are all so inspirational and definitely make me want to live up to my name and try harder .
  • Busy_Mee1
    Busy_Mee1 Posts: 1,015 Forumite
    Hi Try Harder - just trying to catch up with everyone's diary. A similar thing happened to us last year and we had to pay for some building work, it is very annoying but thankfully you have savings to cover it now. If it had happened before you started on your MF journey you possibly wouldn't. Our houses are our biggests assets so we need to invest in them, there's no point in paying the mortgage off if the house is falling down around your ears. Don't be so hard on yourself - you did brilliantly last year and I have no doubt you will do the same this year : )
  • try_harder
    try_harder Posts: 1,527
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    Thank you Busy mee1 ,it is so easy to feel dejected and give up and sometimes you just need someone to say its ok you can do it .I have been so useless with money in the past ,its hard to keep that focus ,so thank you Busy mee1 and everyone on here ,you help me believe tat this time it will be different .I am now going to wrap two parcels that i sold at the weekend and list lots more on ebax so feeling optimistic that some more money might be made today
  • themadvix
    themadvix Posts: 7,826
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    Hi TH, sorry to hear about the roof - it must be pretty gutting to have done so well and have to spend some of your savings on it. But at least you've got the money to do it.

    Sounds like the bay of E is going well too - I've got a couple of parcels to post - to steal a phrase - every little helps!
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


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