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  • BachSoon
    BachSoon Posts: 172 Forumite
    That's quite a plan, I look forward to following your progress :)
  • mirko
    mirko Posts: 268 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    I find it a good exercise to write stuff down on here and look over old posts. I do feel progress has been made!
    -----------------
    JULY 2020
    Mort
    : £103,112.35
    Loan: £321.42
    Credit Card: £2162.90
    -----------------
    I thought I'd take another look in this thread over a year on and am pleasantly surprised that over the last 18 months or so we've managed to pay our mortgage down by about 10k with loans and credit cards also declining. The loan was a car loan so we are now left with two cars one of which is five years old and the other that's ten+. So one or other may need replacing soon. Our last monthly payment of £321 comes out in early August so after that it'll have to be £321 going into savings for a new car.
    ------------------
    The credit card is on 0% until sometime in 2022 so that's OK(ish) for now. We've got £4500 in savings now (lockdown has helped curb spending and we've been lucky to keep our jobs), but a good proportion of that will be used for our big holiday in 2021.
    -------------------
    Really looking forward to getting the mortgage under £100,000. Patience!
    Going to try and list some jobs for me to complete to help push the mortgage/CC down or even add to savings..

    As of 24/11/2020
    Mort: - £98,200
    CCds: - £1,568.18
    Loan: - £0
    Savings: - £3,500.00
  • mirko
    mirko Posts: 268 Forumite
    Part of the Furniture 100 Posts Name Dropper Photogenic
    JANUARY 2021
    Mort: £98,200
    Loan: £0
    Credit Card: £1,568.18
    ----

    Had a decent solid year in 2020 with savings. (I'm very, very fortunate with my working life to have gained due to lack of commute etc now I'm working from home). Our total debt is now below £100,000 and we've even built a buffer for savings. We've also got a decent little buffer of savings (now that we're no longer paying off a car loan).

    Feeling quite positive that this is a year where we can be a bit more aggressive in paying off the credit card as well as over-paying on the mortgage... yet at the same time finally getting a new kitchen (our current one is a disgrace, it's probably 40 years old - it is genuinely falling apart).

    Hope to add a few more thoughts and ideas over the coming weeks.
    As of 24/11/2020
    Mort: - £98,200
    CCds: - £1,568.18
    Loan: - £0
    Savings: - £3,500.00
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