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Baby steps to mortgage freedom for beanielou.
Comments
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Thanks everyone. I appreciate your input.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.3 -
Remember though that I don’t have any other money to form part of my estate. Just the house.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.3 -
Lou Please forget about your funeral, nobody has been left without being buried yet. I hate to say it but you won't know what happens when you are dead so put any funeral cost thoughts right at the back of your mind.
Boiler, how old is your current boiler? that will give you some idea of how long you have to save.
Get your garden sorted out ASAP and you will feel better about it.If you go down to the woods today you better not go alone.7 -
The funeral directors can be paid after the house is sold so don't worry about the funeral money. I also think you should use the money for your garden.6
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I agree with Peb. A nice splash of colour in the garden can make a huge difference.peb said:I would get the garden done but use the money set aside for your funeral. That can come out of your estate, if you need a boiler you need a boiler.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £1.3K Net savings after CCs 16/1/26 (but owed £1.1K) so £2.4K
3) Mortgage neutral by 06/30 (AVC £34.8K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 40.6/£127.5K target 31.8% 16/11/25
(If took bigger lump sum = 62.7K or 49.2%)
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 £5.2K updated 16/1/264 -
I agree with the others, the house is your estate and funeral costs can come from that. Use the money to improve your life."Good financial planning is about not spending money on things that add no value to your life in order to have more money for the things that do". Eoin McGee5
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Life is for living Beanie, sod the funeral expenses!Mortgage OP 2026 £300/2000Mortgage OP 2025 £7700/7000Mortgage OP 2024 £7700/7000
Mortgage balance: £33,296
Make £50 a month Jan £20
Boiler fund £1225/3000
”Do what others won’t early in life so you can do what others can’t later in life” (stolen from Gally Girl)7 -
The garden. The garden. The garden.If you have built castles in the air, your work should not be lost; that is where they should be. Now put the foundations under them
Emergency fund 350/1000
Buffer fund 100/100
Debt Free (again) 25/07/20255 -
Ditto what everyone else has said Beanie. Focus on living...
Fortune x
https://forums.moneysavingexpert.com/discussion/6623005/happy-days-in-our-golden-years/p1?new=1
Working at Living4 -
I know from going to my aunt’s funeral that my cousin has been able to put funeral expenses (including my airbnb) on the estate, so pleeeeease, get the garden sorted. It would make such a difference to your quality of life 😊
KKAs at 15.01.26:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £222,084
- OPs to mortgage = £12,881 Estd. interest saved = £6,203 to date
c. 16 months reduction in term
Fixed rate 3.85% ends October 2030
Read 9 books of target 52 in 2026 as @ 27th January
Produce tracker: £36 of £400 in 2026
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.7
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