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Hope is not an Effective Financial Strategy

edited 3 March 2020 at 8:18PM in Mortgage-Free Wannabe
4.1K replies 338.9K views
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Replies

  • Cheery_DaffCheery_Daff Forumite
    11.2K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Very impressive! And what happens when you've finished? Will you be luxuriating in your empty garage, or do you have exciting plans to put something else in there??
    Mortgage end date at start: Feb 2043
    Mortgage end date now: Feb 2033
  • debtfreeonedaydebtfreeoneday Forumite
    4K posts
    Part of the Furniture 1,000 Posts Name Dropper PPI Party Pooper
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    We are currently decluttering our garage as we won’t have one if the move goes ahead. Surprising what you can do when you put your mind to it. 
    DFW (08/08) £64,346.53 Gone for good (02/19)
    MFW (01/15) £59,986.52
  • South_coastSouth_coast Forumite
    2.5K posts
    1,000 Posts First Anniversary Name Dropper Photogenic
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    That sounds like loads to me SJ!
    Mortgage start: £65,495 (March 2016)
    Cleared 🧚‍♀️🧚‍♀️🧚‍♀️!!! In 5 years, 1 month and 29 days
    Total amount repaid: £72,307.03

    Finally earning interest instead of paying it!!!
  • Cheery_DaffCheery_Daff Forumite
    11.2K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Sounds like an excellent start to me too - and an excellent use of a garage! 😁
    Mortgage end date at start: Feb 2043
    Mortgage end date now: Feb 2033
  • debtfreeonedaydebtfreeoneday Forumite
    4K posts
    Part of the Furniture 1,000 Posts Name Dropper PPI Party Pooper
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    Great start by the sounds of it!
    DFW (08/08) £64,346.53 Gone for good (02/19)
    MFW (01/15) £59,986.52
  • Cheery_DaffCheery_Daff Forumite
    11.2K posts
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
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    Every bit certainly does help! Sounds like premium bonds is a good home for the money until you're ready for it. Sorry for your loss though.
    Mortgage end date at start: Feb 2043
    Mortgage end date now: Feb 2033
  • KarmacatKarmacat Forumite
    36.1K posts
    Part of the Furniture 10,000 Posts Name Dropper
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    Everything is a bit unpredictable at the moment, isn't it - and if you're mulling things like kitchen/bathroom updating, it's hard unless you really go through it on here.  I certainly did :) because with being on my own it was great to have feedback - you don't have that problem :) 

    PBs are good too - I just sent another slosh of money over there myself.
    Downsized and paid off mortgage 2010
    Retired August 2016
    Paid off French mortgage September 2018
    New kitchen fully installed June 2019
    Not counting this! 2020
    Garden fencing completed, woohoo 2021.......... Bunny hugger
  • shangaijimmyshangaijimmy Forumite
    3.7K posts
    Part of the Furniture 1,000 Posts Name Dropper
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    Another month ticked off. £63.84 overpaid, and £450 into the mortgage neutral pot. I've made a slight adjustment by reducing my S&S Isa payment by £70, and then added a further £100 to pension via salary sacrifice.

    £10 won on postcode lottery, which will be OP's when it lands.
    MFW: Was: £136,000.......Now: £68,202.78......
    Mortgage Neutral Deficit: £54,331.22... Mortgage Neutral Savings: £13,871.45
    MFiT-T5 #8 - £17,522 of £23,100 (75.85%)
    1% Mortgage Challenge - £411.69 of £705
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