ATB's £171k quest begins.... NOW!

PrincessLou

You must be so excited for 2016 to come around. It certainly is more motivating seeing the numbers come down before your eyes, rather than putting the money into a savings account.

How is the 2016 OP plan coming along? I love making financial plans for the new year and can't wait to see yours too. It's crazy to think how far you've come over the past year. :T

atypicalblonde

Good Afternoon friends,

Thank you all so much for your kind comments. I have a childfree day today, so have been cracking on with as much work as possible - I really want to "clear the decks" before the New Year and, because my job is veerrry paperwork heavy, this has involved a good tidy up of my study too - very pleasing. Dinner of HM chilli is bubbling away on the hob, and I will shortly get some beef out of the freezer with a view to putting a casserole in the slow cooker overnight.

Okay, so the OP plan. We want to get into 5 figures by January 2017 (which will in the main be the savings offsetting the mortgage due to 10% cap). This means we need to overpay £43,000 in 2016. Here is how we are (hopefully ) going to do it:

• Lump sum overpayment of £3,500 immediately in January using savings to take us into the dirty thirties
• Dividends of £10,000 over the year from DH business
• Earnings of £20,000 from my business
• £5,000 from Air BnB, fleabay and other second hand sales

So, we are £4,500 short. The easy solution to this is simple - take DS out of nursery and use that money to OP the mortgage instead. I have gone back and forth with this one in my head and, the bottom line is, I just can't do it. He does two days a week and I think it does us both the world of good - I have time to do my work, cook meals, clean up etc and he has a ball whilst he's there. So for now, the shortfall is very much TBC.

DD starts school full time in September. I will therefore re-assess the childcare requirements for DS at that time. We don't have any regular family help with childcare, more sporadic one-offs.

So there we have it, in black and white. I have committed to this now and I know that we are in for a busy and hardworking year, but we are completely ready and up for it

Any comments or suggestions would be very much appreciated xx

ETA: Signature updated, and I noticed I started this diary exactly 10 months ago today! Wow!

hiddenshadow

Love the plan.

Good luck figuring out the shortfall - I'm sure you can do it though!

Goldiegirl

It's a chunk of an overpayment - but you've thought it through and have come up with a plan.


As for the shortfall - you've obviously thought long and hard about this, and sometimes other things take priority over MFW. The nursery place is doing you both the world of good, so it's well worth the money if it makes you happy.


You never know what will happen over the course of the year ... some other money may well be found from 'somewhere'!


Good luck for 2016

Luckyinlife

wow 40k + in a year amazing target to have ATB youll get it done for sure and maby a bit over if air b+b takes off :]

Karmacat

Fantastic, ATB.

One thought for *some* of the shortfall - do you stooze, at all? Are your savings at the highest rate they can be? Regular savers at least, and like edinburgher doing some P2P loans? It's a risk, mind you.

But I bet you find a good way! Have we talked about matched betting?

atypicalblonde

Hi KC, no we haven't but I must confess I am intrigued... x

atypicalblonde

Hi friends:hello:

I am absolutely itching to make an OP today roll on January so we can get cracking! Dinner of Hungarian goulash is bubbling away in the slow cooker and smells amazing.

New air BnB guest arrives at 4pm, just in time for me getting home from picking DD up, so it's going to be hectic and I'll be glad when DH gets home from work. I am going to leave the air BnB money from this stretch in PayPal until the new year then OP it in one chunk

Had a business meeting this morning, work has slowed down as it often does in my field at this time of year, which TBH I am fine with, it will be nice to have a restful few weeks. Childfree day tomorrow so I'm having my hair done - much needed cut & colour - and my brows doing too. Spendy, yes, but sometimes a girl's got to have the odd treat!

Off to clean out the wood burner and lay the fire for this evening xx best wishes :rudolf::rudolf::santa2:

atypicalblonde

I am such a divvy at times.

In all the OP planning, I hadn't factored in the effect of our normal monthly payments on the mortage! Some quick sums shows that we pay off around £380.62 in capital per month. Multiply that by 12, and you get .... £4,567.44. Shortfall dealt with :D:D:j:j:rotfl::rotfl:

Watty1

:j great re shortfall. See it worked out