We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Hope is not an Effective Financial Strategy
Comments
-
So plan for diary over the next couple of days. Today I'll post our December accounts, to finish off the year. Tomorrow I'll post a mini 2019 round up, with some comparisons to previous few years, and then on New Years Day I'll post our targets/plans for 2020.
Small 36p TT this morning ready for the first OP of 2020 in a few days time. DS1 has also been for his opticians check up and has 2 new pair of glasses on the way. Unfortunately his sight has worsened slightly in his right eye, which has also changed shape. Thankfully he suits glasses and he was really mature with the 2 sets he picked this time.MFW: Was: £136,000.......Now: £47,736.58......0 -
Well another year has virtually elapsed, and with it the end of the 2019 MFW challenge. I fell some way short in the end, but with mitigating circumstances as I accelerated our long term financial plans round about May and redirected funds previously earmarked for mortgage to our S&S Isa and my pension. I read on someone elses diary (apologies if you are reading this, but I forget who it was) about different phase, and this really resonated with me as we are exactly the same.
Anyway enough rambling!
Month 58- Closing Balance - £76,704.29
- OP's - £285.80
- Net Reduction - £681.60
- % Diary Left - 56.40%
Length of Diary Figures- Total Reduction - £59,295.71
- Monthly Average Net Reduction - £1,022.34
- Total OP's - £32,110.52
- Ave Monthly OP's - £553.63
Retirement Savings (at the request of Suffolklass:D)- SJ Pension (DC scheme) - £650 via salary sacrifice
- SJ Pension - £72 employer contribution
- Mrs SJ Pension (DB scheme) - £216
- Mrs SJ AVC - £100
- S&S Isa - £300
- Total - £1338
MFW: Was: £136,000.......Now: £47,736.58......0 -
Great update Jimmy. I plan on doing similar diary updates over the next couple of days (did my December update this morning) They are great to look back on to see progress.0
-
Ooh I got a mention!
I was just going to say Happy New Year but I also could not help noticing that your average over the life of your diary (£1022.34) was completely smashed by both your savings and mortgage OP this month - well done:T:TSave £12k in 2025 #2 I am at £4863.32 out of £6000 after May (81.05%)
OS Grocery Challenge in 2025 I am at £1286.68/£3000 or 42.89% of my annual spend so far
I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
My new diary is here0 -
As promised here's a round up of our 2019 mortgage journey, and some figures for the last few years:
2019 Figures- Opening Balance - £86,601.53
- Closing Balance - £76,704.80
- Reduction - £9,896.73
- Total OP's - £4,958.99
- Monthly Average OPs - £413.25
Year Ending Balance Comparisons
- July 2006 - £163,600
- 2010 - £150,950.72
- 2014 - £136,000.00
- 2015 - £124,770.68....reduction of £11,229.32
- 2016 - £112,554.86....reduction of £12,215.82
- 2017 - £99,371.84....reduction of £13,183.02
- 2018 - £86,601.53.... reduction of £12,770.31
- 2019 - £76,604.80....reduction of £9,896.73
I like the look of the above figures. That's where I can really see our progress, which really helps to motivate us for the next stage of this journey.
No drinking for me tonight as the designated driver, which is totally fine by me, I will adopting my usual position at the business end of the buffet table. Following midnight fireworks I will be enjoying at least 2 portions of hot pot (with beetroot) and praying that the indigestion doesn't take hold!
Stay safe tonight, enjoy the fireworks and most importantly tuck into that hot potMFW: Was: £136,000.......Now: £47,736.58......0 -
Great figures, SJ! Well done! Best of luck with the next stage of your journey and Happy New Year to you!Mortgage Balance as of July 2025 £14,900.
Starting Mortgage Balance (June 2019) £72,000.
Aiming to be mortgage free by my 40th birthday, June 2026!0 -
Thats a wonderful list of overpayments, SJ, congratulations. And happy new year2023: the year I get to buy a car0
-
Excellent figures SJ. Happy new year!Total Mortgage OP £61,000Outstanding Mortgage £27,971Emergency Fund £62,100I AM NOW MORTGAGE NEUTRAL!!!! <<Sep-20>>0
-
Well I ate an acceptable quantity of food to make up for abstinence of alcohol. Which all means I was up and at it this morning for 8am. With a 2am bedtime I had a free living room so caught up on Worlds Strongest Man heats before a lovely dog walk in the crisp sunshine. I then visited my grandma and spent 30min going round in circles with her saying how well she was doing for nearly 100 and no-one in the home can believe she's that old. Despite me saying numerous time that she will look good as she's another decade before she gets a card off the queen... In the end I gave up!
Just getting prepped for my New Years Day run, before settling down to whatever sport is on late afternoon, and then I have hot pot lying in weight for dinner and the darts final. I will make a longer post later with my plans and goals for 2020.
Enjoy what remains of a relaxing day.MFW: Was: £136,000.......Now: £47,736.58......0 -
Well here goes with my plans for the upcoming year. I've fiddled with my spreadsheet so much and I think I'm happy with where we're at and I'll adjust my opening post to track the 4 figures below:
- Closing Balance - £68,500
- Net Reduction - £8,000
- OP Total - £3,000
- Savings - £24,000
My OP's and Savings ambitions will be tracked with the MF and Save 12k challenges for motivation. The OP figure I am quietly confident of. The savings figure will be very difficult, but time will tell...I will continue with my usual monthly round up, and then every 3 months (in line with MFi3 challenge) I'll track our networth. I suspect 3 months is too short a time to really see the impact of retirement and S&S Isa investments but it fits nicely with the challenge, and I'm hoping will help motivation levels with our focus switch towards retirement planning and the seemingly slower progress.MFW: Was: £136,000.......Now: £47,736.58......0
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.3K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.3K Work, Benefits & Business
- 599.5K Mortgages, Homes & Bills
- 177.1K Life & Family
- 257.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards