MF by age 40! Then I am buying a Mercedes SLK

newbie2013

diamondsonly wrote: »

Just barely in the £130k's :j

Now off to invest my first £100 on FC..here goes xxx

what is FC again?

diamondsonly

Newbie FC is funding circle a peer to peer lending site

diamondsonly

I am feeling a bit overwhelmed this morning. We have so many targets and and challenges. Main motivation for paying off the mortgage early is so when DD starts secondary school in 2023 we are mortgage free to pay for private schooling if she doesn't get into the local grammar schools and for DS in 2025.

I am overwhelmed as i read on here and know people who are moving up the property ladder but I fear we will be stuck in this house forever. Although we will be mortgage free we won't be able to up-size without another mortgage.

I don't want a bigger house to keep up with the Jones's. Not at all but I just feel like moving up the property ladder is another way to increase wealth if you don't have to borrow massive sums to do so. We are in London suburbs and our home is now worth £280000 more than we paid 5 years ago so I know we are in a brilliant position. Deep down private schooling was the right choice for my DD and I don't regret it but I know others opinions will differ on that which is fine.
I just wish we could have a way to pay off the mortgage and still save for the future at the same time.
Being a grown up is not fun :rotfl:

atypicalblonde

Sending you huge hugs sweetie. It is really easy to feel overwhelmed on this journey, being on the MF trail takes up a lot of headspace, constant questions and what-ifs.


Since realising yesterday we have nearly £100k of equity in our house I will admit to being on Rightmove looking at forever homes... then questioning why the hell I'm doing that when I don't need to move, and I didn't think I wanted to.


Have a cuppa now and a vino later xx

newbie2013

diamondsonly wrote: »

Newbie FC is funding circle a peer to peer lending site

thanks - learning every day!

I've seen those... risks and advantages involved...

newbie2013

diamondsonly wrote: »

I am feeling a bit overwhelmed this morning. We have so many targets and and challenges. Main motivation for paying off the mortgage early is so when DD starts secondary school in 2023 we are mortgage free to pay for private schooling if she doesn't get into the local grammar schools and for DS in 2025.

I am overwhelmed as i read on here and know people who are moving up the property ladder but I fear we will be stuck in this house forever. Although we will be mortgage free we won't be able to up-size without another mortgage.

I don't want a bigger house to keep up with the Jones's. Not at all but I just feel like moving up the property ladder is another way to increase wealth if you don't have to borrow massive sums to do so. We are in London suburbs and our home is now worth £280000 more than we paid 5 years ago so I know we are in a brilliant position. Deep down private schooling was the right choice for my DD and I don't regret it but I know others opinions will differ on that which is fine.
I just wish we could have a way to pay off the mortgage and still save for the future at the same time.
Being a grown up is not fun :rotfl:

indeed - it's a difficult thing to juggle. so many commitments, and then there are things you want to buy for your self too!

newbie2013

newbie2013 wrote: »

thanks - learning every day!

I've seen those... risks and advantages involved...

how much are you investing - you would need a lot to get anyting worthy for OP?

newbie2013

diamondsonly wrote: »

Sorry I meant have you started your own MFW thread, like mine and others on here that you read and post on?

Definitely better to replace the boiler now than unexpectedly in winter when its freezing. Although £2k is a massive amount. Maybe use it as motivation for doing your SOA so you can see when you can save some money x

yes 2k is a large amount, but the boiler is 10 years old and we inherited it.... putting it off for far too long and wouldn't want winter with no boiler!

diamondsonly

Thank you ATB. I think I am just exhausted and stressed at the moment which isn't helping. Tired as mini diamonds not sleeping well. Stressed as coursework due 5th October and I have alot left to do plus i have my Ear surgery in 4 weeks which is making me feel a little nervous too.


Also feeling the pressure as I think even though DH is on board I make the major decisions and DH just agrees as he doesnt really understand. I don't want to make any major financial errors.

I have relaxed since early and focused on OP as soon as possible which would give us so much disposable income once MF that we could save alot of money each month and then even buy a property closer to the grammars schools in 8 years time.

Dare I say it... new plan MF in 2019!! that's 4 years to pay off £138,946.46
Got a letter from mortgage company and balance is not £139k but actually a bit less woo hoo

yes I am mad :rotfl:

atypicalblonde

Hells bells woman you're on fire! I will be cheering you on every step of the way x


ETA You have inspired me to up the ante... what have you done?! back later x