Yogavibesdreamsofbeingmortgagefree

yogavibes
yogavibes Posts: 99 Forumite
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edited 15 August 2021 at 1:43PM in Mortgage-free wannabe
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MFW #69 Mortgage remaining Jan 2021 £221,644; Jan OP £1000;
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  • Robin9
    Robin9 Posts: 12,078 Forumite
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    You need to keep some flexible funds ready for that rainy day - have you built up a Emergency Fund. It needs to be a minimum of £1000 and equivalent to 3 months salary or even more. Think car repairs, redundancy .............

    Don't forget VAT in your budget.
    Never pay on an estimated bill
  • savingholmes
    savingholmes Posts: 27,236 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Good look on your journey
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF) plus spent £10K+ on home improvements/emergency repairs
    2) Mortgage neutral by June 2030 AVC £8.063/£127,466 AVC target 6.32%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • longway2go
    longway2go Posts: 1,006 Forumite
    First Post Name Dropper First Anniversary
    Wishing you lots of luck. Can you have a separate account just for expenses. It might mean a bit of saving initially to pu the money aside but might help with budgeting?
    Mortgage Aug 2019 161,000 :eek::eek::eek:Nov 2019 156,500:T Jan 2020 153,122:T, Apr 2020 149,500, Apr2021 139, 675, Oct 2021 136,823, Dec 2021 136,120🙂EF 0/12,000 (0%)😕 (5062.44 was ERC), Jan 2023 128,650. Our Mortgage is never going to be as high as it is today. :jOnwards and downwards to a better life for our family. :jJust keep swimming
  • beanielou
    beanielou Posts: 90,067 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Happy shiny new diary :)
    I 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.
  • beanielou
    beanielou Posts: 90,067 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Good news on not using the cc :)
    I 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.
  • thanks beanielou - I think it has got OH a bit more excited about saving as it feels like a tangible achievement especially given that Sept is such an expensive month with loads of kids clubs to pay for.

    Had another no spend day today :money: I've taken my purse out of my bag and started only having my debit card with me at work. It's keeping me out of the corner shop at lunchtime :D

    Feels like a proper Autumn evening here - for the first time in ages I have come in from work cooked the kids some tea then put my PJs on. Usually Mon is Yoga night for me but proper tired after only one day at work. Hopefully will feel a bit more energetic tomorrow. I feel like hibernating right now until Spring.
    MFW #69 Mortgage remaining Jan 2021 £221,644; Jan OP £1000;
  • System
    System Posts: 178,086 Community Admin
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    Hi yogavibes, just wanted to let you know I'm cheering you on :) xx
  • Well having a really productive moneysaving day today :money:

    I have just opened a children's saving account for my youngest with Halifax - interest 4.5% so going to start some regular savings for him. The other two mini yogavibes have child trust funds with enough in them to cover learning to drive or at least help a bit with going to Uni. in a few years time. Might think about moving their policies too but not sure how to do that.
    Spent an hour looking at money and policies with OH. Managed to pay £1150 off his CC this month so should be rid of it in the next two months in time for starting the new mortgage. That way the larger repayments should be affordable along with over payments.
    Also looked into our life insurance policies as these need changing. We have about 4 different policies as every time we move house we take out a top up one instead of looking at it properly so need to give that some thought too. I'm not sure it will save us anything but worth double checking. The house is unusually quiet as all the kids have gone out to the park. Making the most of it by trying to plan out this months pay to stretch it as far as possible :money:
    MFW #69 Mortgage remaining Jan 2021 £221,644; Jan OP £1000;
  • Not sure good on the money saving front today :eek:. I haven't been able to shake the thought that we should move to a cheaper area out of my head all day. We could get a house like ours about 5 miles away for about 80K less - it's crazy but all to do with school catchment areas. DS1 and DD are already at secondary school but we planned on staying here until DS2 starts but that a few years away yet. Went out with DD and had a lovely couple of hours shopping with her. We went out for hot chocs which we haven't done for months and we got lots of bits in for all the pets. Then I used up a gift card someone bought DS1 for b@@ts and gave him the money. My kids never end up spending gift cards - I think they only ever really spend money buying things from the local shop or Am@z@n. So whenever they get them at birthday and Christmas we have got into the habit of buying them off them. I got some new nail polish and face packs so me and DD had a pamper when we got back which was lovely so worth the £20. Another busy week plans at work this week. Have already made lunch and teas for tomorrow night.
    MFW #69 Mortgage remaining Jan 2021 £221,644; Jan OP £1000;
  • yogavibes
    yogavibes Posts: 99 Forumite
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    edited 4 October 2019 at 2:06PM
    arrh:eek::eek::eek: difficult week at job number 1 and spent most of last night lying in bed trying to think of a way out of having to go back there for the next 15 + years. At job number 2 tomorrow then off Friday with only a GP apt to go to in the morning and then a couple of hours to myself. Literally can't wait. Weekdays are super chaotic when I get in from work. DS1 has been struggling with his asthma this evening which totally sucks for him. Ended up spending £5 on lunch today.
    Survey is next week and then I can sort the mortgage out - cant wait. DS bank details came through too so on Friday I am going to set up DD to save each month:money:
    off to watch Phil and Kirsty and get house envy:rotfl:
    MFW #69 Mortgage remaining Jan 2021 £221,644; Jan OP £1000;
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