Personal progress + 1st question :)

Arite_pal

Hi MSE/MFW-ers,
Been reading for at least 2 hours all the stories and progress people from all budgets and earnings are doing, some great stuff on here and good luck to you all.

took a first-time buyer 25 year 100k mortgage with 10% deposit down in 3 years ago, after 10% off figure and overpaying at present on recent rate of 3.14 fixed after 2 years of having a high 5.99% , got it down to 78k. Credit card also with a few k on, and need to sort it out.

After much thinking after wanting to be DF and MF, I have been getting ideas about "bettering myself" to another area and looking at how much I could save up etc etc, to then thinking about probably 35 years worth of a mortgage with no room for a few hols a year doing this but of course would be a diff way of life for family but not having as much for the littleun in way of hols, trips, clubs etc etc, to then seemingly forgetting the whole thing and thinking to be MF and DF is the best thing and having no worries hopefully within 11 years and having plently of free time and money to spend as I want.

what is the balance of gaining the best way of living day to day, eating out, trips, and hols while young-ish and even cars and paying off the normal 100k mortgage within means and moving to somewhere great with better lifestyle and fresh air, atmosphere and working hard until standard retirement?

like I say been on here looking for some kind of direction for the past few hours but not seen anything relating to "moral" dilemmas..anyone had similar thoughts at that crunch-time for what would be the what I have read as the "forever house" ???

Pushkin

Hi Arite Pal

I think the question you are asking is totally personal to each individual/family and will derive different answers! You don't mention how much spare money you have or how extravagant your lifestyle is currently.

My advice in general terms would be to start with creating a spreadsheet of your monthly outgoings - believe you can get a SOA (statement of affairs) on this site which might be useful.

Once have full financial visibility you will be better placed to start making decisions and will probably find places you can cut back spend.

I think in general clearing debts (mortgage aside) is a sensible first step as well as having some emergency savings before you start overpaying.

As I said its all very personal and about what suits each person's budget and lifestyle best. Another good tip though is to look at ways of making a little extra money - use cash back sites, do surveys, sell things etc.

Good luck !