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    • freshcotton
    • By freshcotton 29th Nov 15, 8:37 AM
    • 219Posts
    • 558Thanks
    freshcotton
    making hay while the sun shines (by freshcotton)
    • #1
    • 29th Nov 15, 8:37 AM
    making hay while the sun shines (by freshcotton) 29th Nov 15 at 8:37 AM
    making hay while the sun shines...


    I think this is the best financial advice you can get (and probably obvious to most on this forum), but sometimes I like to remind myself as to why I am trying to be financially sensible.


    Iv got to say, at the minute, things are good for us, two lads, early to mid 30s decent jobs and no debts. So financially, we can comfortably pay our bills, overpay on our mortgage and save a little too, but of course, a lot can (and will) change.


    There is no risk of us having children so that's one major life change I don't need to worry about! However I think our income could drop in the next few years, and I could even be at risk of redundancy at some point next year.


    Our cars (for example) are middle aged and cant keep going for years to come so they will need repurchasing eventually as well as other general house maintenance.


    Right now, my focus is paying the mortgage off and building the savings pot. We don't have any investments because they scare me, but I know that's foolish so will learn more about them on the way. But for now, I just want the mortgage to go away.


    So this is my diary, to update my progress and to remind me to continue making hay for now, to prevent insecurity during any cold and cloudy days ahead.


    I will update further financial info later on, but thanks for reading.
    Last edited by freshcotton; 26-12-2015 at 9:40 PM.
Page 8
    • Numbercruncher_mfw
    • By Numbercruncher_mfw 18th May 17, 7:11 PM
    • 10 Posts
    • 44 Thanks
    Numbercruncher_mfw
    My mfw journey is just starting, I bought my first flat earlier this year. I'm on a 30 year mortgage atm but aiming to knock at least 15 years off
    • freshcotton
    • By freshcotton 25th Jun 17, 10:26 PM
    • 219 Posts
    • 558 Thanks
    freshcotton
    Hello friends, hope everyone is getting on ok. Not a lot to update, we got the 0% credit card and spending all on that which is allowing extra payments. I revert to the SVR in August so want the balance reduced as much as possible.

    Bad news was that I lost my wallet this weekend. No major damage as it had no cash and cards were cancelled in time, it's just things like the driving licence that will be a pain, but in the grand scheme of what's happened this year in the U.K, it's a non issue.

    Confession time. We spent £500 this weekend (this is on top of needing a new washing machine). Partner and I were feeling a little worn down over the last few weeks and we have been very committed so needed a release. We got a few bits for the house including a peice of art and very happy with it. But very much back to normal now. We don't feel guilty as it's such a small fraction of how much we have been overpaying.

    Payday this week, will do a quick balance update once I know the figures
    Last edited by freshcotton; 25-06-2017 at 10:29 PM.
    Mortgage Start - August 2013 £145,000 ************ Balance at April 2017 - £59,000

    Target - Overpay by £2,500 each month ************** Mortgage free by December 2018!
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