SF's road to mortgage freedom!

slowlyfading

I'm quite pleased with myself today I had a £10 off £25 spend for the b0dy sh0p, which is where I get my foundation from (it lasts me about 4 months and it doesn't make my skin sore!) so I thought I'd get two (so 2 x £15) but when I got there, the makeup was buy one get one half price, so I grabbed some shower gel on offer for £3 to make sure I was over the £25, so what should have cost me £33 full price only ended up being £15.70 :j :j due to my customer card too. The makeup will last me waaaay into the year, probably September as I hardly wear any so bargain or what?! Very pleased

I've also started a new project, with the help of my MIL, who's very good at crafty things. I've started my very own Christmas wreath, in the hopes that it'll be finished by Christmas :rotfl: and I'll be able to hang it in our home. It's simple but very fiddly and time consuming, but I very much enjoyed learning about the different processes this morning I'll post a picture of it if I ever get it done!

Me and DH are going to have a film evening, as we've borrowed the hobbit on blu-ray; going to relax in my onsie and not do much

slowlyfading

And back to earth and work with a bump!

I'm glad the first day is over; they're always tricky, and my Year 9s this afternoon didn't disappoint in that department... :mad: I also didn't sleep well last night, which didn't help my patience today

It's been a NSD in the SF household and our bank account is looking healthy the new fence panels should arrive tomorrow and DH plus another helpful person is going to try and get those up by the weekend. Now just need to hope that no more come down any time soon!

I have lots of plans bubbling away in my head about finances/future but I'm not posting them on here, mainly because I'm worried people will think they're stupid and not realistic and a bit of a fantasy

One day, maybe....!

beanielou

It's your diary.
Post what you want

gallygirl

slowlyfading wrote: »

I have lots of plans bubbling away in my head about finances/future but I'm not posting them on here, mainly because I'm worried people will think they're stupid and not realistic and a bit of a fantasy

One day, maybe....!

beanielou wrote: »

It's your diary.
Post what you want

Seconded :j:j:j

Aw go on, all curious now :rotfl:.

DedicatedDFW

^^ thirded Come on SF - I have said before that i really enjoy reading your thread and some of that is down to your plans - your posts are motivational and inspirational and you often get me to think about stuff i'd not considered

And if we're talking about unrealistic plans my savings and mortgage overpayment targets i'm classing as aspirational - just to put a positive spin on it what with my paltry income and all :rotfl::rotfl::rotfl:

slowlyfading

Hmmm, well okay

My very long term aim (it's more like a dream, but if I write it down, it'll happen, right?) is to be retired by 50. That means free from the constraints of being employed by someone else because we need to steady income. This may mean ventures into other jobs, but if and when I want to, not because I need to.

But, after lots of calculations and projections of budgets etc., it'll take a lot of living below our means, plus some investing in other income streams, and never, ever straying off course. Now, this is all very well and good to say now, but once there are children involved, our income, such as it is, won't stretch in every direction.

See the problem?

So, I've been looking into multiple income streams, which is the second bit of planning/dreaming although I find investing slightly baffling/daunting/confusing, I'm straying towards investing to provide a dividend payment income (which seems to be favoured more by american bloggers/financial people rather than UK) and some low cost funds to balance things out. I'm also considering a BLT in the future, but not sure I and/or DH want the hassle of that. There's also private tuition which could be a bonus, but I'm not in the place to add that to my life at this time. But, maybe one day.

I also want to/wish to be involved in teaching of financial things. I'm surrounded by young people everyday, and they have absolutely no concept about money/incomings/outgoings, and perhaps they shouldn't. (Also, those who have jobs are a bit more aware, but only slightly) I'd love to be able to teach younger people about money and finance, as it'll be a must on the curriculum soon, but I'm not sure how to go about this route. But, something definitely to consider.

So, any ideas or suggestions? Am I just being a hopeless romantic stuck in a dream land? Or, can I actually do this?

gallygirl

slowlyfading wrote: »

I'm also considering a BLT in the future, but not sure I and/or DH want the hassle of that.

It's not that difficult really, just a few rashers, lettuce and bread. Tomato etc. is optional .

Ok, seriously........

Have you read The Millionaire Next Door and Rich Dad, Poor Dad? I really recommend reading them both, especially the latter. I can honestly say if I had read them years ago I'd have retired at 50 (well actually, I'd have needed to read them before they were written IFSWIM :rotfl:). It's all about getting a passive income and yes, BTL's can pay a large part of that. And yes, it can be a hassle. But if you thought you could build up a portfolio of say 4 which would enable you to give up work how would you feel then? Yes, it is a hassle at times,but not as much hassle as working M-F 9-5. One thing that made me squirm a bit with self-recognition was the description of people who spend their time cutting out coupons to save pennies, whereas that time could have been better spent researching the stock market etc .

Good luck. You are not a hopeless romantic at all, that would be someone who wanted it but had no idea at all of how much they would need and how they could achieve it. You may need to compromise and work PT, you may need to wait an extra few years, but if you do SOMETHING you'll be in a better position than if you spend all your money on shoes and chocolate.


GG

slowlyfading

GG - thanks for responding so quickly I haven't read either of those books, though I'm heard about them in passing. I'm going to see if I can request them in our local library and have a ready Re: the BTLs, I've only ever thought about one, as DH is yet to be on board with that idea but perhaps the idea of, as you say, 4 and then producing enough income to cover outgoings, could be something worth looking at also.

I like to think that both me and DH are good with money, and I don't want to see us scraping and scrimping (some of our friends don't really understand why we do it) with nothing much to show - because how amazing is the thought of buying your freedom and having it earlier than you're supposed to?

DedicatedDFW

Hi SF, thank you for sharing It is good to have a plan and know what you want to achieve and have some ideas about how to get there Some excellent advice from GG I too would really like a BTL or maybe a portfolio of them as GG suggests. This was all part of my plans before my drastic loss of income but its still something i think about from time to time. I just need to get back on the right income level and have a lower amount owed here - which will make us a bit more secure & also put us on a better interest rate - i do know financially where i want to be before making that next purchasing step.

You are being realistic too - it sounds like you have a goal but understand the need for flexibility with this due to life changes with children etc.

greent

gallygirl wrote: »

Have you read The Millionaire Next Door and Rich Dad, Poor Dad? I really recommend reading them both, especially the latter. I can honestly say if I had read them years ago I'd have retired at 50 (well actually, I'd have needed to read them before they were written IFSWIM :rotfl:).

Which Rich Dad Poor Dad is it? - there appears to be a series of them now....
:cool: