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Positive Balance: Focused on Budgeting

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Comments

  • PositiveBalance
    PositiveBalance Posts: 1,268 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    So...I made an embarrassing mistake. I think I forgot due to my enforced absence due to logging on issues in February, but I started a new diary then carried on filling out this one! :#

    Anyway, it almost doesn't matter as I will post the same update on my new one, but as of this morning, due to getting paid and transferring the more than small sum of £948 from my emergency fund yesterday (more than anticipated due to me having to give a wide margin for some anticipated but not yet quantified expenses)...

    ... I'M DEBT FREE!* :D<3o:)

    Masive thanks to everyone who helped me get this far. You are all stars. :*



    *Bar an extra quick check of all bank statements to check my maths is correct and we'll discuss the student loan and mortgage at a later date.
    Debt: £11,640.02 paid in full! DFD: 30/06/20
    Starter Emergency Fund (#187): £1000/£1000
    3 month Emergency Fund (#45): £3300/£3300
  • joedenise
    joedenise Posts: 17,929 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Well done, that's brilliant.

  • DancingInTheRain
    DancingInTheRain Posts: 1,374 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper Photogenic
    Congratulations 🥂
  • PositiveBalance
    PositiveBalance Posts: 1,268 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Thanks @joedenise and @DancingInTheRain - much appreciated! Tonight is a Chinese takeaway and bottle of wine. I will treat myself to something as a debt - free present...I remember saying earlier that it would be a Karcher steam cleaner but it may end up being a holiday. I'll ponder on it! B)
    Debt: £11,640.02 paid in full! DFD: 30/06/20
    Starter Emergency Fund (#187): £1000/£1000
    3 month Emergency Fund (#45): £3300/£3300
  • savingholmes
    savingholmes Posts: 29,070 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    So pleased for you Your hard work has literally paid off your debt. Well done.
    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
  • PositiveBalance
    PositiveBalance Posts: 1,268 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    Thanks @savingholmes!

    You are right - I wish I had found a shortcut but it literally was just putting my nose to the grindstone that did it!

    I look forward to congratulating you for the same reason in the near future! :D xxx
    Debt: £11,640.02 paid in full! DFD: 30/06/20
    Starter Emergency Fund (#187): £1000/£1000
    3 month Emergency Fund (#45): £3300/£3300
  • savingholmes
    savingholmes Posts: 29,070 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Thanks - it will be an exciting day. Make sure you celebrate your DFD - I think too often we gloss over our achievements and just push on to the next thing. Sometimes we need to stop and take notice of what we have done. 
    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
  • muppets
    muppets Posts: 1,476 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    Wahoo congrats 🥳 
    PAYDBX 2020 - #01 Pd £15,029.29 / £13,140.66 - 114% 🎉

    MFiT-T5 #36
    3-6 mth EF #5     €2,445 / 11,100
    Mortgage - PD 126,846.35/ 271,495.07 46.72%[ MF was Aug 2038 now Sept 2035 😲
  • PositiveBalance
    PositiveBalance Posts: 1,268 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper Combo Breaker
    edited 7 July 2020 at 9:19PM
    Thanks guys! :)
    Hmm...what to do as a treat?! :D#firstworldproblems
    Debt: £11,640.02 paid in full! DFD: 30/06/20
    Starter Emergency Fund (#187): £1000/£1000
    3 month Emergency Fund (#45): £3300/£3300
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