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8.82 TT Friday, saving 5 interest.
I also think I may have miscalculated my new mortgage balance and it may be lower but will see when the monthly payment comes out.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 swimming2 -
I am sat here pondering so thought I would write my thoughts.
I sometimes kick myself like many for not starting this journey earlier and therefore being further in my mortgage free journey but today have found some peace around that.
We are in a very fortunate position to own a BTL which has 74k equity, I have always looked at it as something which earns us income and will eventually help our children in one way or another but never as one of the reasons we are not further in paying off our mortgage.
If we sold the property and reduced our mortgage accordingly (ignoring fees and taxes) we would be left with apx 74k (odd that our residential mortgage is exactly double the equity). I think I am going to find a new way to document this as longterm it will help towards our eventual freedom.
Onwards and downward... One of my big targets now will be to get to a position I could be mortgage free if I wanted
.. So maybe more mortgage neutral.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 swimming4 -
Just read your diary and bookmarked it.
Some terrific progress.
Have you thought about visually representing your goals?
I use a bar graph (0-100%) to show how far along each of my major goals (mortgage, EF, retirement, holidays, decorating, car, etc.) are.
It helps being the dry excel numbers into context.
Doesn't have to be a graph, just whatever works for you.If it's not adding up, compound it!3 -
Hi Grogged,
Ahhh I really like that idea. I'm definitely going to set something similar up.
So this weeks shop was 50.85, I was really cautious this week as I normally top up most things just incase but had a word with myself and said its only got to last 7 days. Shopping would normally be 90-120 so a good cut. We have spent quite a bit of day to day funds on painting our decking but it was worth it. It means our budget for the next few weeks will be lower to compensate but think we can do it. We would like to replace our outdoor furniture but can't get anything we like in stock. It's due to rain on Wednesday so hopefully that will mean less people buy and stocks back up.
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 swimming2 -
Ooh, I like the idea of a graph. It would be a pie chart for me, but then I don't have Excel on my personal laptop and I absolutely refuse to use my work one when I'm not working, so I have to stick to trusty old pen and paper for everything 😂!Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
I like your mortgage neutral planAchieve 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 -
@South_coast you could always try libre office g00gle sheets, both are free. 😀If it's not adding up, compound it!2
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Noooo, not Google Sheets 😯 It is the bane of my working life 😮
(Well, one of them anyway 😂)Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
I have started my visual representation as suggested and really like the idea but will take me a while between looking after the boys.
Had a lovely catch up with a couple of friends at social distance today and makes you realise how nice a chit chat is and how happy it makes you feel.
Slightly annoyed as a renewal policy has been taken for insurance which we have said we do not want to review so I am hoping that we will get the renewal refunded in the next few days.
In positive news I now have money to cash out of prolific which I will do on Thurs ready for Friday pay out....not loads but everything adds up :-)
Onwards and downwards people, we can smash this!!!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 swimming3 -
New Balance 147,839.42
Onwards and downwardsMortgage 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 swimming3
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