MFW: Next step towards total freedom!

caeler

I’m now officially calling it my “Post Mortgage Bucket List”. Thanks @Grogged and @Ami-Rose! 

eat_that_frog

I've just read the whole thread @caeler, I am completely in awe at your dedication! Well done on what you've achieved so far.

A post mortgage bucket list sounds like a really fab idea 

Really interesting you got a 'talking to' (albeit from a good place) about your focus on OPs. Right now in the current climate, what else are you going to spend the money on at the moment?! Nothing's open, holidays aren't really happening. I completely agree with your approach and hope I make as much progress with my mortgage as you've done with yours

caeler

Aww thank you! @eat_that_frog

If there was ever a time to be careful with money, now is that time. The "talking to" was from a good caring place but I wonder if my circumstances are slightly misunderstood too. I try to be discreet but I'm earning really well right now and I couldn't bare to waste a penny of it.  I am so fortunate and nobody knows for how long.  I'm no social animal either and I think my family worry I'm all work and being sensible and I don't have any fun.  Well I will have to tell them about my "fun" bucket list!! haha! Thanks for reading.

South_coast

I was the same, earning well and pouring a huge amount into the mortgage whilst attracting attention for doing so from family members. Then I was made redundant, and after being re-employed on MUCH less I'm really glad I "made hay" while I could

WSC

Do you mind me asking Caler, and you may have already said somewhere else, how much you save out of your salary each month? I just want to compare it to mine, to see if I’m being as strict as you. I am saving £2,000 per month. 

caeler

Exactly that @South_coast “make hay”. Nothing is forever and nobody knows the future. 

@WSC 40% pure saving each month (ready to repay the mortgage in July) but if I counted the substantial monthly over payment I’m currently making as savings I’d be saving 73%. 

WSC

Thank you ok that helps as I am saving around 65% roughly of my salary so similar bracket to you. I’ve decided to sell my flat now (was planning to try & keep it but I just can’t stretch to it) and buy a house once I have sold it. 

caeler

I will pay off my mortgage this year!

168 days (6 pay days) until I’m mortgage neutral. I'm undecided which specific date I’ll actually do the repayment on but I’ll give that some thought soon. I’m currently at 62.47% of being mortgage neutral. As at today owe £52,677.55. 

I stayed in budget during December, spending the last few quid on gin, which was a good investment I think and I enjoyed a glass on New Year’s Eve. I’ve had some unexpected expense this week due to my postponed holiday costing more, the flights had increased by over £100 each so the voucher wouldn’t cover it. Honestly I wouldn’t be booking this holiday if it wasn’t already technically booked. But a lot can happen between now and May. My current tier and FCO advice prevents me travelling anyway. 

The Christmas break has been pretty weird without family but we made full use of zoom! Running kept me sane so I did that nearly every day.  Powered by mince pies I was able to run faster and longer than normal which was really enjoyable. I’ve gained 6lb due to all the overindulging though so now it is time to get back into health. 

I’ve been thinking about my post mortgage bucket list recently too as instead of “things to buy” of which I’ve added a few (ie. duvet and a mattress) I’d like to add some “experiences”. I’ve come up with taking my girlfriends out for dinner when restrictions are lifted as I miss them terribly and taking a trip with my mum for her missed big birthday. 

Happy New Year readers! Thanks for stopping by!

Grogged

Happy New Year!
The experiences sound a wonderful idea - a great way to celebrate the new mortgage free you!
We've also been mince pie (and turkey) powered, but unfortunately only have the 6lb to show for it! 😀
I see a sad faced,biscuitt free diet in my future...

caeler

My passport arrived yesterday! It’s blue. I feel weird about that. I started the application on 9 December and my old passport wasn’t received until 26 December. But they processed it all in one day so actually quite quick and then due to new year had to wait a few days for delivery. Not that I’m allowed to leave the country! 

And in other news my mortgage overpayment fund is very healthy. I’ve received a refund from HMRC, already! So quick and I got paid interest! So that went straight into the mortgage overpayment fund which takes me to being at 68% of being mortgage neutral. 

I’m a little frustrated about this new lockdown. I don’t know why, we knew it was coming and things are getting worse so it is necessary but I just need some time to process. I’ve decided to try and be really really frugal. I will be able to work at home more so will aim to not buy any fuel in January. I’ve got a freezer full of food so I’m going to keep doing small top up shops only (milk, eggs and fresh bits). I can’t think of anything else I can save money on but anything left over on 31 January can go into the overpayment fund!