Hope is not an Effective Financial Strategy

shangaijimmy

And I'm gonna revamp my signature for 2019, and the look of post 1...I just haven't worked out what to have it looking like!

shangaijimmy

Well i've had a look at my spreadsheet and our budgets and basically our plans are a bit dull!

We have 3 more payments of this current mortgage deal of which I know we'll knock off £1,050 of the balance, and may sneak an extra £10 here or there.

After that we we change to a new fix but our daily interest will go up and so our challenge is to get to £1,000 net reduction each month for the following 12 months.

Here's the only interesting bit... The reduction in our fixed monthly amount will be redirected to savings rather than mortgage as I start to plan for that period of pre-retirement, where i want to be part time from 60 (Mrs SJ already part time) so would like some savings to use to top up "income" and delay pension draw down. Its only a rough plan at present as mortgage remains a priority for us, or at least reducing our liabilities as much as possible (we have 4 years left of my job funded by a particular funding stream - this could very well be extended, but if i am looking for a new job it'd be nice not to have the pressure of a massive mortgage and knowing that we owe less than £30k over 11 years will be huge for us).

Secondly Mrs SJ salary will be going up significantly in Feb, so i'm hoping to redirect some cash...

Karmacat

shangaijimmy wrote: »

And I'm gonna revamp my signature for 2019, and the look of post 1...I just haven't worked out what to have it looking like!

I love the first part of your sig - the second part is quite confusing to me, though if I work at it I can make sense of it :o:o sorry!

shangaijimmy

Karma - Sorry not needed at all. In fact feedback is readily welcomed. I don't actually like the second line and its that which is making me change it, added to this the fact that daily interest is no longer a major factor for me (it is for Mrs SJ i hasten to add) compared to 4 yrs ago when it loomed large at £7.41!

Si i will do the honourable thing and look at everyone elses in order to blatantly steal an idea or three!

shangaijimmy

Financials now closed for 2018, and below is Decembers progress. Another £1k demolished and another brick coloured in!

Month 46

• Opening Balance - £87,653.30
• Closing Balance - £86,601.52
• OP's - £552.22
• Net Reduction - £1,051.78
• LTV - 39.19%
• Loan/Diary Remaining - 63.68%

Diary Progression

• Opening Balance - £136,000
• Current Balance - £86,601.52
• Net Reduction - £49,398.48
• Cumulative OP's - £27,151.53
• Average OP's - £590.25
• Average Net Reduction - £1,073.88

Suffolk_lass

I love these end of year posts with a summary on progress to date and annual progress - a big well-done from me!

Happy New Year too

shangaijimmy

Little 86p TT this morning and a 4 mile run this afternoon to finish the year off. Didn't make 500miles in the 6 months, but really pleased with the final total of 424. I missed 1 month due to 2 injuries, 3 weeks for holidays and then i haven't done much over Christmas as i knew i wouldn't hit target. So i wanted to be fresh to attack my 1,000 mile in 2019 challenge...6 miles intended tomorrow...!

My leave officially finished last night as i had a phone call with a situation that needed dealing with, so a few phone call lat night and then in this morning. Situation "first aid" administered and i'll deal with the rest of it Weds-Fri.

Hope everyone has a good one tonight. I will be adopting my usual New Years Eve prime location... at the end of the buffet table! Just eating enough to ensure i have room for midnight hot pot without indigestion (it really is an art form/science)!

shangaijimmy

Wow, look at all the late New Year and early New Year posters on the forum. All the best everyone.

Well last night went as planned. I managed to consume my body weight in buffet, washed down with lots of juice and water. Just managed to save enough room to allow for 2 portions of hot pot at 12.30am...! I was then praying for Mrs SJ to be ready to go home, but sadly she was only just getting going. DD at the age of 2 crashed out at about 1.00am, DS1 at the age of 9 crashed at about 2.30am and DS2 at the age of 6 stayed awake until we got home at 4.20am...

So up at 8.20am and very surprised i lasted that long, and not quite feeling as fresh as I'd hoped. Still i know for certain that I'll be feeling better than Mrs SJ when she finally surfaces! Plans for the day are, dog walk x 2, 6mile run to start my 1000 mile challenge, at some point snooze to the football, Worlds Strongest Man Final and then the Darts final. And adding in the hot pot that i managed to bring home (the benefits of driving).

42p TT made this morning and hoping for the first NSD of the year.

lippy1923

I know what you mean, not feeling as fresh as hoped lol
I've just about made it downstairs to the sofa with a healthy breakfast to try and perk me up a bit.

Good luck on your run and your finances throughout 2019.
Hopefully we can both have another great year.

Fortune_Smiles

Happy New Year SJ.

Fortune x