Steps to FIRE

earthgirl

Hi MBJ,

Its great to have you back. It sounds like you have been on a rollercoaster.

We have found ds1 going to school difficult too I know that doesn't help much. We are a bit ahead - started back in August - and he is really settled now.

I like to see it as building resilience - important for any child.

Definately staying put in your current location?

Your targets sound great - good luck.

Muser1

My DS started school in September too. It's hit me like a train. Totally changed the life I have known for the last 9 years. I miss him loads! He seems to like it tho.

Glad you are feeling better xx

MyBestJumper

Thanks EG and Muser. It's half term here this week and it's starting to feel as though I've got my little lad back. Most of Friday and Saturday were one huge tantrum but yesterday was much calmer. I've just booked us train tickets to travel north to stay with family - two days on the beach with do us all loads of good.

Ah, Earthy, the where do we live question. I just don't know, I'm just so torn and DH is too. We have a nice little life down here, a good circle of friends, great countryside 30 minutes down the road, there's tons of opportunities for DS1 as he grows older that there wouldn't be in the back of beyond, it's possible to live cheaply what with a great market, loads of ethnic food stores and supermarkets plus my earning potential is greater here with its wide demographic than it would be in a lot of places. Staying here is so sensible and yet.... is this it?

Tell you what, if it's gonna unsettle us all this much I don't think we should ever set foot out of the city again! :rotfl::rotfl::rotfl:

MyBestJumper

Signature update for end October:

Mortgage 1: £95,000 £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: £15,000 £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500

I'm wondering whether I should start to OP the BTL mortgage? I know this isn't normal advice but that's a lot of interest to be paying. At least it would slowly increas my monthly income and I know what I did OP would be absolutely safe unlike with other investments. Any thoughts anyone?

MyBestJumper

Spam - reported

Brodiebobs

MyBestJumper wrote: »

Signature update for end October:

Mortgage 1: £95,000 £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: £15,000 £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500

I'm wondering whether I should start to OP the BTL mortgage? I know this isn't normal advice but that's a lot of interest to be paying. At least it would slowly increas my monthly income and I know what I did OP would be absolutely safe unlike with other investments. Any thoughts anyone?

I always think the same, especially as mine is IO, but everything i read says don't, and pay off your own mortgage with any spare funds.

Makes sense really as the interest is an offset expense on tax returns, and you cant get those perks on your residential mortgage so makes sense to clear that first iyswim?

greent

MyBestJumper wrote: »

Signature update for end October:

Mortgage 1: £95,000 £83,848.23 at 3.1%
Mortgage 2 (BTL): £83, 489.15 at 4.8% (I.O.)
Family loan: £15,000 £6,000
Long term savings/investments: FundCirc £100 7.1%, Saver account at 5% £500

I'm wondering whether I should start to OP the BTL mortgage? I know this isn't normal advice but that's a lot of interest to be paying. At least it would slowly increas my monthly income and I know what I did OP would be absolutely safe unlike with other investments. Any thoughts anyone?

It might be a lot of interest, but it's (currently) all tax-deductible. Our accountant advised not to do it whilst we also had personal mtge.
x

MyBestJumper

Thanks Brodiebobs and greent. I knew that's the standard advice and I guess ignoring it for now is the right thing to do.

Nice half term with the lads. We ventured up north to stay with the in laws. Good to see them but the train journey and the weather when we were there were both trying to say the least.

We've paid another £250 off the family loan taking it down to £5750. Another £750 and it will be 2/3 paid off! Will be good to get that one gone.

Will update signature next time I'm on the computer

earthgirl

Glad you had a good holiday!
Hows the funding circle money going? 7.1% is impressive if it works.

MyBestJumper

earthgirl wrote: »

Glad you had a good holiday!
Hows the funding circle money going? 7.1% is impressive if it works.

37p interest earned so far - I'll be rich!!!!!!! (In about 1000 years :rotfl::rotfl:)