Onwards to freedom!

Options
1…1415171920…91

Comments

  • turtlemoose
    turtlemoose Posts: 1,648 Forumite
    Name Dropper First Post First Anniversary Combo Breaker
    Options
    I'm really looking forward to seeing your chart when you hit neutral :D

    Have a fab holiday!
  • Cream_Tea
    Cream_Tea Posts: 427 Forumite
    Wedding Day Wonder
    Options
    Great diary SSS, very inspiring. Congratulations on LO and getting OH on board with MFW. My DH is much the same he is happy with whatever I do as long as it doesn't stop him/us enjoying life. I will read on with interest with your future plans now your are almost mortgage neutral!

    CT
    Mortgage [STRIKE]£269,000[/STRIKE] £258,987 / MF date [STRIKE]June'49[/STRIKE] June'49
    Debt £24,990 / Debt Free Est. May'21

    Updated 06/05/18
  • SuperSecretSquirrel
    SuperSecretSquirrel Posts: 1,046 Forumite
    First Post First Anniversary Name Dropper Photogenic
    edited 22 April 2015 at 8:11AM
    Options
    As of today we are officially mortgage neutral :):D :j

    We now have more in cash and liquid funds (after deducting a generous amount for a future tax bill) than we owe on the mortgage :D

    Easy access funds £43,980.75 versus outstanding mortgage £43,624.82, the result is £355.93 in our favour... We win! :):):):):)

    We have no big purchases planned for the short term, and of course intend to keep building our net worth and work towards financial independence, so barring any unexpected shocks, we shouldn't have to drop below mortgage neutral again for as long as we stay in this house :)

    It feels pretty amazing. We're not officially mortgage free, but we near enough could be if we wanted. It's more cost effective for us to maintain the mortgage than to pay the ERCs so we'll have the mortgage for a while yet, but it's nice knowing that we are extremely secure in our home now!

    Here's the fully coloured in spreadsheet house...
    149pfte.jpg
    The bold coloured blocks represent what has been paid off the mortgage, and the lighter coloured blocks represent our savings. There are no uncoloured blocks left :D

    As promised here's the chart - click - that shows the mortgage balance over time (green line), what the mortgage balance would have been over time had we stuck to the original schedule and not overpaid (red line), and our savings balance for the past few months and a fair estimate for the coming 3 months (blue line). Today's date is highlighted by the yellow vertical line, and it shows that the savings amount is higher than the mortgage balance today and it should hopefully stay that way from now on!

    We are feeling pretty damn great at the moment :laugh:


    PS - Thanks for posting turtlemoose and Cream Tea :)
  • edinburgher
    edinburgher Posts: 13,469 Forumite
    Name Dropper First Anniversary First Post
    Options
    Two new MFs/MNs on the forum today, excellent times.

    Well done to you, is the plan to hammer investments now? :)
  • gallygirl
    gallygirl Posts: 17,228 Forumite
    Name Dropper First Anniversary First Post Mortgage-free Glee!
    Options
    Congratulations, must feel great :T:T:T.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • SuperSecretSquirrel
    SuperSecretSquirrel Posts: 1,046 Forumite
    First Post First Anniversary Name Dropper Photogenic
    Options
    Thanks ed and gallygirl :) It does indeed feel great :D

    Immediate plans are to boost the 123 account, it needs a bit more of a float in it to cover the upcoming tax bills and planned early 2016 OPs. Once I feel there's enough in there I certainly plan to invest more in stocks and shares :)
  • ourcornercottage
    ourcornercottage Posts: 1,526 Forumite
    Options
    That's fantastic SSS it's motivating to see people really doing it when you've got a long road ahead.

    Treat yourself to something nice to congratulate yourself. You deserve it!
  • Cream_Tea
    Cream_Tea Posts: 427 Forumite
    Wedding Day Wonder
    Options
    Congratulations! That's such great news! Like OCC said, it's inspiring seeing people doing well. Now revel in you super star type money saving status :p

    CT
    Mortgage [STRIKE]£269,000[/STRIKE] £258,987 / MF date [STRIKE]June'49[/STRIKE] June'49
    Debt £24,990 / Debt Free Est. May'21

    Updated 06/05/18
  • SuperSecretSquirrel
    SuperSecretSquirrel Posts: 1,046 Forumite
    First Post First Anniversary Name Dropper Photogenic
    Options
    Thanks ourcornercottage and Cream Tea :)

    I've been racking my brain trying to think what our treat to celebrate the occasion could be... All I can think of is another holiday, but we already have one planned for the summer and don't really have enough annual leave to go again so soon. Takeaway or restaurant seems pretty uninspired and neither is ideal as we are trying to get back on track eating healthily having over indulged recently... I'll let you know if I think of anything, suggestions are welcome! :rotfl:
  • ajmoney
    ajmoney Posts: 6,244 Forumite
    Name Dropper First Anniversary First Post
    edited 1 April 2015 at 5:54PM
    Options
    I have just read the whole of your thread, what an inspirational journey. It has led me to think quite a lot about a mortgage neutral life. We have 2 mortgages on our property, the smaller one with the lower interest rate could be covered by my S&S ISA tomorrow so we are effectively neutral on that. I have been setting my sights on our larger, higher interest mortgage to give us retirement options as and when I want them and for when Mr AJM is 60. I am going to work out our mortgage neutral situation rather than mortgage free. It will make me feeling I am making some headway and may give Mr AJM a bit of an incentive to get more involved as I deal with this journey by myself. Looking forward to seeing your savings grow.
    MFW 2024 No. 7 £500/£1200 MFiT-T6 No. 70 £15420.41/£22787.04
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.6K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.9K Spending & Discounts
  • 235.7K Work, Benefits & Business
  • 608.7K Mortgages, Homes & Bills
  • 173.3K Life & Family
  • 248.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards