Make hay whilst the sun shines.

MoneyMission

2019 Plans
Mortgage overpayments: £207 / £2,420 - 8.55%
Annual Expenses: 18%
Emergency Fund: £5,000 DONE
House Fund: £500 DONE
Car Fund: £ / £1,800

MoneyMission

2019 Progress
Mortgage overpayments: £472 / £2,420 - 19.5%
Annual Expenses: 26%
Emergency Fund: £5,000 DONE
House Fund: £500 DONE
Car Fund: £300 / £1,800

MoneyMission

2019 Progress
Mortgage overpayments: £732 / £2,420 - 30.25%
Annual Expenses: 34%
Emergency Fund: £5,000 DONE
House Fund: £500 DONE
Car Fund: £450 / £1,800

MoneyMission

2019 Progress
Mortgage overpayments: £1,233 / £2,420 - 50.95%
Annual Expenses: 51%
Emergency Fund: £5,000 DONE
House Fund: £500 DONE
Car Fund: £750 / £1,800

Have also got a little stash of money that is currently unallocated. Not sure where that's going to go yet. Might make the emergency fund into a combined emergency / future life savings plan and add it to there. Still TBC. Am pondering on it.

Also might start working backwards for our mortgage soon. We've got 19 years left :eek: before it finishes. That can be brought forwards by a couple of years with regular OP's I'm sure. However, the main point of overpaying for us is that in just over 4 years time we'll be selling this house and moving somewhere mortgage free! The kids will be grown and finished at college so we'll be footloose and fancy free, ready to up sticks and slow down a bit. We're lucky in that our house has a good value and we have a sizeable chunk of equity in it now.

The more we OP now, the more we'll have in the next house pot and hopefully we'll keep it reasonable (i.e. stop dreaming of acres of land and ponies!) and have some capital to boot. I may start to formalise our 4 year goal and then work to that. Another one to ponder.

MM

MoneyMission

2019 Progress
Mortgage overpayments: £1,470 / £2,420 - 60.74%
Annual Expenses: 59%
Emergency Fund: £6,200 / £10,000
House Fund: £500 DONE
Car Fund: £900 / £1,800

Decided to increase the emergency fund / retire early fund to £10k although this won't be full by the end of 2019. Be happy if it gets to £7.5k on a slow drip feed.

Still haven't thought about where I'd like our mortgage to be in 4 years time when we'll be in a position to make our downsize happen. Will ponder some more this month.

MM