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The impossible dream
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It would be good for you to manage you existing vehicle while you can - being so close to the end and all. Hope you enjoy your holiday
Mortgage restart June 2018 £119950Re mortgage August 19 £110470, … Mortgage November 22 £85600 final 0% CC 3300Home renovations - £65000, mid 2018 - mid 20222 -
Thanks MFD. The problem with the car is the amount of miles I do per year/month. I can tell that it is going to need a new clutch shortly, along with new tyres and it is generally wearing out, getting louder, feeling less solid etc. Do I carry on for the rest of the year, or do I get a new one, which will last me another 4 / 5 years? Anyway, if I do, I would hope to get it at the same cost as the current one, so I don't see an increase in payments.
The holidays was great thanks. Shame to be back, but all good things come to an end. But, I have a nice camper van holiday coming up shortly, plus lots of bank holidays to look forward to. I plan to take Kitty to the seaside. See what he makes of the sea.What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park1 -
Glad you had a nice holiday. Love the idea of taking kitty in the camper van. Saves on cattery fees lol.Save £12k in 25 No 49
PB Win 21 £225, 22 £275, 23 £900, 24 £750 Balance Dec 25 £32.7K
Plan to move to Denmark for FIRE by Autumn 2025 “May your decisions reflect your hopes not your fears”
New diary aiming for fire https://forums.moneysavingexpert.com/discussion/6414795/mortgage-free-now-aiming-for-fire#latest1 -
Glad you had a good holiday. On the car - it is impossible to know which is the right decision. Sometime you just have to follow your instincts and hope for the best.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/251 -
Well, I made the decision to buy a new car. Yes, I am close to paying off the mortgage, but my observations of all things financial tell me that I can afford to do it now, although money will definitely be tight for the rest of the year.
If I can afford it now, it means I will have 9 months of austerity, but at the end of the year, I will still have paid off the mortgage and I will have a new to me car that will hopefully last me another 4 years. I really am concerned about the amount of work that this car is going to cost in the short term. I know for a fact I will need a new clutch before this one gives up the ghost, along with its general tiredness, so get it whilst I can, without this one falling apart in the months whilst I try to make it last. Guaranteed, if I want to nurse it to the end of the year, something major would happen. So, bite the bullet, spend money that I wish I could allocate elsewhere for 9 months and get a healthy car to keep me going for a few more years.
Anyway, money is extremely tight this month, with bits owed everywhere, but nothing is causing me alarm. I am still on track for the end of the yearWhat I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park2 -
Enjoy looking for a new car
1 -
Best of luck finding the right carAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/250 -
Wow. The chaos of the car purchase. It was so painful and such a waste of time and energy. Some car dealers are absolute liars. Anyway, this one was. Oh well. it was an interesting road trip, even if it was an utter waste of time, energy and fuel to get there and back.
So, I have given the loan money back to the bank. It was within the 14 day cooling off period, so no penalty. If I find another car, I will try again, but the whole debacle has put me off trying for now. I will do as MFD said and just take the time to pay off the mortgage first and worry about another car in the new year.
Last week of the month and the end of the first quarter. According to my financial plan to clear the debt, I need to pay in a bit more money to be on track. I will re-evaluate on 31 March to see where I am exactly and if I need to consider making adjustments to make sure I succeed.
I am getting a bit lost as there is so much activity on my accounts, I feel money is slipping through my fingers. April is the start of the financial year, so I will have a complete fresh look at all my bills and my budget to see if I can do anything differently or better. Perhaps, I should look to stop spending at the rate I currently am. It feels like I am getting close to the end so I am relaxing and spending. I need to keep a tight rein for a bit longer. 9 months to be exact.What I do not give, you must never take by force.
Mortgage outstanding - 30/12/22 - £25,900. 31/01/23 - £22,300. 28/02/23 - £20,500. 31/03/23 - £17,500. 30/04/23 - £15,800. 30/05/23 - £13,800. 31/06/23 - £11,300. 31/07/23 - £9,800. 31/08/23 - £8,300. 30/09/23 - £6,000. 31/10/23 - £3,000. 30/11/23 - £1,200. 06/12/23 - £00.00
God save us everyone, As we burn inside the fire of a thousand suns, For the sins of our hands, The sins of our tongues, The sins of our fathers, The sins of our young. Linkin Park2 -
Best of luck with tight rein. Would be lovely to see it goneAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £3K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £22.5K + Lump Sums DB £4.6K + (25% of SIPP 1.1K) = 28.2/£127.5K target 22;12% updated 6/7
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.6K updated 6/7/251 -
How annoying about the car lesson learnt and at least you could return the money. Rather that than a dodgy car.Save £12k in 25 No 49
PB Win 21 £225, 22 £275, 23 £900, 24 £750 Balance Dec 25 £32.7K
Plan to move to Denmark for FIRE by Autumn 2025 “May your decisions reflect your hopes not your fears”
New diary aiming for fire https://forums.moneysavingexpert.com/discussion/6414795/mortgage-free-now-aiming-for-fire#latest2
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