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Wannabe Mortgage Free by Twenty Three (2023 that is!)
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I've made plenty of choices in the past that I would happily reverse if I had the chance. But we can't....what we can do is learn from the poor choices and ensure we think carefully about what we really want and apply an individual value to it that may or may not be similar to someone else's value....and embrace the good choices and look forward to repeating them!
I'm sure you will look forward to many good things. Not all will have a tangible price tag. Time is one of those things, and I too look forward to being able to have more of it!!0 -
Hi - just read through your diary. I'm definitely of the mindset that less is more and you don't need more stuff to be happy. I'd much rather reduce my costs to retire early and do something meaningful with my life rather than working for the man for the next thirty years! I think I can manage the next five years though, pay off the mortgage then do something more rewarding without worrying about the money!
I know what you mean about saving the parking though. I rationalised to my oh that if we click and collected our shopping for free each week rather than paying £1 for delivery, over time, this would take a whole month off the mortgage. Worth every penny in my eyes!March 2016 - £178,914.59; July 2017 £146,160.38
Mortgage end Sept 2043; Target - pay off by March 2022, now Sept 2021
Target balance July 2018 £112,5600 -
Thank you for stopping by Madcatgirl. It is appreciated.
I am loving what this process is teaching me about myself. It is one of a few things I am learning more about and the mix is serving me well.
Well yesterday I bought flights (with money I had and not credit :T) to visit my son I have not seen for 18 months.
We opted for the slightly more expensive flights to reduce the number of connecting flights needed (decided paying the extra was better than being stressed about missing connections or luggage being transported incorrectly).
I have started a BA frequent flyer miles account too as I intend this to be a more regular trip.
I'm going to keep a detailed diary of spends and enjoyment levels on this trip as it is one that I want to make much more regularly in the future.
I have a thing about being cold and he lives somewhere warm (across the pond) in UK cold times. So I really would like to do this trip at least twice a year. November and April feels good right now.
When I know exactly how much I need to have a lovely time, that will fuel my MSE journey to make that into reality.
We've already sorted lifts to and from the airport to save parking charges of £70 :rotfl:
Off for a walk out soon then I'm going to do some work later as I've got some client projects that need my attention.Take care of the here and now and the future will be taken care of.0 -
Fantastic news on the mortgage and lovely to be able to have a visit to warmer climates in the dull UK winter (which seems to be trying to settle in where I am already!!)
Totally agree that long term adding up of the little spends can be a great motivator. Some , you may decide are worth it, others...if it's not a big deal to give it up then why not!!;)MF planning for the simple life :beer::j0 -
I had £50 of personal spends not used this week so I have transferred that to the CC balance.
I have decided to leave the EF at its balance of £500 and move all future unused spends from the household budget to mortgage overpayments. Shifting them from £200 a month to £500 a month. This is doable keeping a tight rein on the finances and providing nothing breaks!
Using the OP calculator, doing this alone will see us MF in 2023 - something I thought was a pipe dream a couple of weeks ago when I started this diary!
When I've repaid the CC I could look at moving more money to OP's, OH would match that and we would get our OP's up to £1000 a month OMG...Take care of the here and now and the future will be taken care of.0 -
NSD's - target for September 12 - currently at 7, doing well.
Moved money around on my spreadsheet and just sent my October OP early - £500 paid off 3 weeks sooner than expected. That will save a little interest over the next 6 years. :j
I've OP £701 since starting a few weeks ago. The £1 came from a test transaction I test up to ensure the money went through to the right place via online banking. I'm going to have to look to see if I can round it up now and find another £99 :rotfl:
Set the wheels in motion to transfer pension providers. I'm currently charged what the fund makes. Not good. I recently found out you could change providers! Amazing the things you take for granted eh!
This new fund will be better off to the tune of circa £500 a year :eek:
It will also be good as it means I can manage myself the cash side of the pension (can't get hold of the cash sadly). I will look to put this into some shares or funds. There is nearly £7K to use, but I do think it is going to cost about £900 to pay off the old provider. Honestly is legal theft! The new provider may pay a couple of hundred £'s towards these charges.
Never mind, onwards and upwards.Take care of the here and now and the future will be taken care of.0 -
I've just done something I don't think I should have!
On the OP calculator I worked out where we would be with the mortgage had we overpaid our current OP from month 1...
We would have been mortgage free sometime this year. Instead we have a £85K balance.
It's not even that we earn more now so can afford the OP now because of that. I'm actually taking home about a third less salary as I was when we started this mortgage!
I know I can't turn the clock back but I do hope anyone starting out on their mortgage repayments reads this and carries on to OP whatever they can as often as is possible. Your future self will thank you dearly.Take care of the here and now and the future will be taken care of.0 -
But just think how much mor interest you would be paying if you still weren't overpaying.
You can't change the past, but it can shape the future.Outstanding mortgage: £23,181 (December 19)
MFW 2020 Challenge Member #10 0/£23180 -
wishingthemortgaheaway wrote: »But just think how much mor interest you would be paying if you still weren't overpaying.
You can't change the past, but it can shape the future.
Yes, I am pleased I did it now as it has made me more determined to get it paid off sooner, it will certainly not be going to the 12 year term that is officially remaining.
On the work front had another meeting today with business owners happy to promote our service. Went well but realised that developing these relationships is never going to lead to quick sales (more likely 6 to 12 months). So we have a meeting tomorrow to set out our plan of action for direct contact with our target market rather than going through a 3rd party.
Another NSD - need to check but might be up to 8 this month.
Didn't get out for my morning walk today. I notice on the days I don't how it impacts my day and not in a good way. I'm exhausted, but saying that I usually am after face to face meetings, I'm becoming more introverted as I go on and being with people takes alot of concentration - hence why I much prefer working in my little office at home with my computer between me and the worldTake care of the here and now and the future will be taken care of.0 -
I've just done something I don't think I should have!
On the OP calculator I worked out where we would be with the mortgage had we overpaid our current OP from month 1...
We would have been mortgage free sometime this year. Instead we have a £85K balance.
It's not even that we earn more now so can afford the OP now because of that. I'm actually taking home about a third less salary as I was when we started this mortgage!
I know I can't turn the clock back but I do hope anyone starting out on their mortgage repayments reads this and carries on to OP whatever they can as often as is possible. Your future self will thank you dearly.
All the best
Retro xSaveOriginal Mortgage: £134k Sept 2044 :eek: Current Mortgage: £126k Neutral Oct 2039
Ideal goal: TBC :cool:
Bonus OPs made 2017: 7 total= £159.91SaveSave0
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