I really really want to be........mortgage free!

ourcornercottage

hiddenshadow wrote: »

I recommend a chart so you can see progress over time. I shudder to think how in-the-red my net worth was a few years ago but it's motivating to see how much better I'm doing now!

I think an additional sheet on my spreadsheet is being added tonight

ourcornercottage

I've made a chart and have estimated we are currently + £268k to £368k which seems like a good starting point.

It will be interesting where this is in 12 months time with the volatility in financial markets and stock prices.

Ive decided that all the government contributions to my SIPP I will put in s totally separate fund so picked one of the L and G tracker ones recommended. I know it sounds silly but it's just I'd like to keep it separate from money I've scrimped and saved.

No money progress as yet except I've spent nothing today again!

Mini was in 2 events in cluster sports day and 2 silvers. Very proud of him . His school won overall for the sports day and for the year.

ourcornercottage

Haven't posted in ages as nowt going on money wise.

July isn't going to have great savings or OP figures unfortunately but hey ho we're having a road trip and enjoying ourselves.

School holidays loom but most stuff paid for already.

Camping this weekend, all paid for but might need a couple of £££ for spends.

Hoping August will be an improvement

AlexLK

All sounds good.

I wouldn't worry too much about money over the summer holiday, just enjoy yourselves.

ourcornercottage

Just updated my MFiT and mortgage currently £119,325.

I think I am going to struggle to reach my £500 OP target this month. Have paid for all the caravan stuff which was £600 and we are getting some fencing done monday which is £300. I have so far taken £500 from the savings to pay for all this but want to leave as much as possible in there by reducing the OP this month. Should be business as usual next month!

AlexLK

Are you going to be going away in the caravan this coming summer?

ourcornercottage

Hi All no updates just lately as money has been wierd, even went into OD once for a couple of days on the bills account. Timing issues but all okay now and hopefully will work itself out this month.

Been away caravanning! a long road trip 5 nights and back now. A bit late but the July update is as follows :_

The aim for this month was £600 reduced to £500 and we hit the lower amount with a reduction of £504.92

Balance stands at £118290 Capital Reduction £1090 (Over £1000 so its okay but way under my £1333.33 target which is really very sad)

OP's this month £504.92 which is a bit less than I was hoping for but still over my £500 minimum.

Interest paid this month £235.75
Interest paid July 2015 £264.20
£28.45 Less interest paid in 2016

Daily interest is now £7.86 7p less than last month and 48p less than the start of the year.

ST savings increased by £347.68
LT savings increased by £2622.63 but this is obviously in part due to brexit exchange rate thingy so I expect a negative month coming up to correct this but I am basking in the joy for now!
School/Annual Bills Savings decreased by £467.20 we had a new fence and gate done, have decorated our dining room and another few bits and bobs.
Total increase in savings £2503.11 a good month but artificially inflated.

In summary this month has been okay, the bare minimum I would want to achieve. S/T savings okay still going up slowly even on the poorer months. It is nice to see monthly interest going onto my accounts too.

FIRE target currently at 7.09 % up 0.52% on last month and 2.41% increase since the beginning of the year.

OP target for August will need to be set at a modest £500 again as its always a difficult month.

Just to explain that I have a mortgage with HSBC and it would reduce the payment every month if I did not have a fixed amount. When I fixed the amount I set my OP from the original payment. Therefore when my rate drops this month on the variable part of my mortgage I will not register a bigger OP as I don't count it. It will register a bigger net reduction every month though. The way I see it is that unless I keep to the original payment level my OP will just drop every month and I will not finish earlier just pay less. This is why my net reduction can seem quite high for my OP level and interest rate.

shangaijimmy

I'm in a similar vein to you. Had a difficult month, lost motivation for posting and ended up just under our £600 target. We've had a fabulous 18months and in reality last month was good (as was yours), it just seems more difficult. Added to that Mrs SJ drops on to SMP in the school holidays...poor planning...!

How's your funding circle going? I've just signed up to give it a whirl.

ourcornercottage

FC is going well, 1 default so far but even if I loose all this money it's still very good, I have invested slowly but am up to £575 now! This is my fun investment and I just reinvest every time I get to £20. At this rate In about 20 years it will be a decent investment. I would like to add more to build it more quickly but the budgets are busted at the moment.

The last 2 months have been very tight we have made a few purchases, done some work on the house and it's the school holidays. I can't see things improving in the next few months. Hoping to keep to my £500 per month OP with any additional pounds

No money news no OP's yet, a bit added to the renovations account but very little spent this week

AlexLK

Sounds like you're doing well with such a large OP planned and further savings over summer.

Hope you're enjoying the holidays.