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From debt to freedom...

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Comments

  • savingholmes
    savingholmes Posts: 29,070 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Cakes sound amazing as does the help!
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £171.8K Equity 36.37%
    2) £2.6K Net savings after CCs 10/10/25
    3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
    (If took bigger lump sum = 60.35K or 47.6%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5K updated 10/10/25
  • savingholmes
    savingholmes Posts: 29,070 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I think we all deserve a round of applause just for getting to the weekend
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £171.8K Equity 36.37%
    2) £2.6K Net savings after CCs 10/10/25
    3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
    (If took bigger lump sum = 60.35K or 47.6%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5K updated 10/10/25
  • Cherryfudge
    Cherryfudge Posts: 13,726 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    You are amazing, taking £70 off the debts with all the other calls on your finances! SA has a good point about hanging on to any 'spare' money at least till the next lot comes in. Or could all this baking capacity be turned to profit? DDs set up a micro business in lockdown, make the papers, Mum sets up a blog of the business and local walks (drawing in advertising revenue as a side hustle), featured in the Sundays or G00d Housekeeping... ;)After all, look how J@ck Monroe started out! )

    Sorry hear DD1's plans are on hold. It will be nice for you to have her around and it sounds as though the older children in particular are being very useful.  Perhaps some savoury baking that could form the basis of meals (quiche, anyone?) if your DS has left any cheese?

    Your sowing season is probably well ahead of ours but even I am thinking about seeds, so garden planning now is probably very timely.

    Did DS3 find Peter Rabbit? :smile:
    I think a bit of sunshine is good for frugal living. (Cranky40)
    The sun's been out and I think I’m solar powered (Onebrokelady)

    Fashion on the Ration 2025: Fabric 2, men's socks 3, Duvet 7.5, 2 t-shirts 10, men's socks 3, uniform top 0, hat 0, shoes 5 = 30.5/68
    2024: Trainers 5, dress 7, slippers 5, 2 prs socks (gift) 2, 3 prs white socks 3, t-shirts x 2 10, 6 prs socks: mostly gifts 6, duvet set 7.5 = 45.5/68 coupons
    20.5 coupons used in 2020. 62.5 used in 2021. 94.5 remaining as of 21/3/22
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