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1 Year challenge to boost my credit rating!!
Comments
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Well done on the £150 extra - every little helps. I didn't realise how much it did when I first started and felt that I would never get to the point we are now at £12K debt it feels small in comparison with where we started from.... If you put the effort in now - you could look back and see your progress.... not too far from nowAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise)
(If bigger lump sum £15.8/30K 52.67%)
5) SIPP £4.8K updated 13/9/250 -
Well done on the extra
if you are on payment plans with the other accounts and they have frozen interest, it may be better to reduce the overdraft on Lloyds so that you then pay less interest and possibly charges which they would be applying (not mentioned in the SOA so I may be wrong)
Good luck with it Credit card debt - NIL
Home improvement secured loans 30,130/41,000 and 23,156/28,000 End 2027 and 2029
Mortgage 64,513/100,000 End Nov 2035
2022 all rolling into new mortgage + extra to finish house. 125,000 End 20360
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