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I’m now starting to wonder at what point “I’m turning into my Mum!” goes from being something said in a voice of dread to something said with pride - I’ve definitely well and truly moved to that side, the other week someone said how like Mum I was in manner/sense of humour and I was chuffed beyond words!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her5 -
EssexHebridean said:I’m now starting to wonder at what point “I’m turning into my Mum!” goes from being something said in a voice of dread to something said with pride - I’ve definitely well and truly moved to that side, the other week someone said how like Mum I was in manner/sense of humour and I was chuffed beyond words!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/252 -
EH, that's lovely!
Much as I love my mum, I would not appreciate being compared to her
I think it'll be many years (if ever) that mine would appreciate the comparison
DFD March 2025 (£35000 paid off)
FFEF £10000/20000 saved2 -
How is it May already?
All good here, eldest DCs have their exams coming up, so they finish school in a couple of weeks!
Entitled teen has been offered a degree apprenticeship which is excellent.... 4 years, no debt and she's getting paid £25k a year!DFD March 2025 (£35000 paid off)
FFEF £10000/20000 saved5 -
Wow! Well done her. That's an awesome opportunity. My girl will have so much debt getting her degree and then enter an industry that is super competitive and not guaranteed. But she has wanted to do this since she was 7 and she is the determined type so hoping she will do well.
And the boy, well, no idea. Would love him to get an apprenticeship, but he is so lazy and just doesn't seem bothered at all right now. He has another year to go, but I do worry.Debt free Feb 2021 🎉2 -
Fantastic on the degree apprenticeship. That's fab £. Good luck to your DCs with their exams.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £174.8K Equity 32.77%
2) £2.6K Net savings after CCs 6/7/25
3) Mortgage neutral by 06/30 (AVC £24.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 30.1/£127.5K target 23.6% 29/7/25
4) FI Age 60 income target £16.5/30K 55.1%
5) SIPP £4.8K updated 29/7/251 -
That's excellent news on your Entitled Teen (I feel that "ET" might work well as an abbreviation here - choose your own level on which to apply it!) - time to let her know how much she'll be paying for her keep, then?
Good luck to the exam candidates - and to you for dealing with the stresses around it all!🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her2 -
Thanks DAL, SH and EH
I'm pleased for her and relieved, she seemed a bit aimless and I was worried she'd spend her gap year sat on her bottom! I did the research and sent her a list of companies in our area offering apprenticeships in her field, she only bothered applying for 1 so she's lucky to have got it. She's rewritten history though and it was all her idea apparently..... I just chuckle to myself, I know the truth
We've said we won't charge rent while she's doing her apprenticeship as it's in lieu of her going to uni which would have cost us a small fortune. We have told her we expect her to save a substantial chunk of her salary though.... she won't have a house, car, dependents to run so if she's smart she could have a nice lump sum by the end of the 4 years.
We've also told her that her room and food is our contribution and everything else will be her cost; clothes, transport, entertainment etc
She needs to get certain grades (which are easily achievable if she works) and therefore DH and I suggested to her she gave up her part time work and we'd pay her an allowance until the apprenticeship starts. That way she has no excuse not to study, we'll see!DFD March 2025 (£35000 paid off)
FFEF £10000/20000 saved2 -
PS.... she will be now known as ET, excellent suggestion EH and very fittingDFD March 2025 (£35000 paid off)
FFEF £10000/20000 saved1 -
ohdearhowdidthathappen said:PS.... she will be now known as ET, excellent suggestion EH and very fitting
That all sounds fair on the approach to her not paying rent too - it remains to be seen whether she takes that on board and starts to realise the value of her money when she's working full time for it I imagine!
🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
£100k barrier broken 1/4/25SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her3
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