We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The power of habit

Cloudspotting
Posts: 1 Newbie
I am a lurker but now is the time to commit as I need to keep on the straight and narrow if I want to achieve my goals!
The mortgage: now nearly four years in, with OPs made in the last three years to take it from £180k to £140k. Interest is 3.8%, as I fixed when the market was jittery. :mad:
The near term goal: to get to £120k by the end of September 2019. Running the numbers and including my annual OP allowance, I need to OP by £16k once planned capital repayments are included - more loaded towards 2018. This is a big amount for me - doable but will take commitment.
But: I need to ensure I have a good savings pot and a balanced investment portfolio - I want my assets to work for me, rather than me always working for my assets. So it can't all go towards the mortgage...
About me: early 30s, comfortable salary, okish with the pounds and pennies (although prone to fall off the wagon), no debt or other financial commitments. A big thing about this diary is keeping myself honest about the MSE mantra and not making lazy spending decisions.
So here goes...
The mortgage: now nearly four years in, with OPs made in the last three years to take it from £180k to £140k. Interest is 3.8%, as I fixed when the market was jittery. :mad:
The near term goal: to get to £120k by the end of September 2019. Running the numbers and including my annual OP allowance, I need to OP by £16k once planned capital repayments are included - more loaded towards 2018. This is a big amount for me - doable but will take commitment.
But: I need to ensure I have a good savings pot and a balanced investment portfolio - I want my assets to work for me, rather than me always working for my assets. So it can't all go towards the mortgage...
About me: early 30s, comfortable salary, okish with the pounds and pennies (although prone to fall off the wagon), no debt or other financial commitments. A big thing about this diary is keeping myself honest about the MSE mantra and not making lazy spending decisions.
So here goes...
0
Comments
-
Welcome, cloudspotting! Lots of great ideas for finding ways to OP around here!Updating soon...0
-
Happy shiny new diaryI am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.5K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.9K Spending & Discounts
- 244.5K Work, Benefits & Business
- 599.8K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards