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Mission: freedom!
Comments
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Great news about the family!!April 2020 - £102,222 Loans/CC’s.
Jan 2022 - £0
Cleared - £102,222
Jan 2022 - Now time to build suitable investments and a business!2 -
Hope your relatives recover quickly.
Glad the roof cost wasn't as much as expectedAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/251 -
I thought I'd write down a few things that have helped me save money since I started this diary (obviously some have been helped by lockdown- I'm going to have to try really hard to not let myself slip back into old habits once lockdown ends!)
* Before I buy anything ask myself if I actually need it, or do I just 'want it'. I have so much clutter from buying previous 'wants'.
* same applies to buying a coffee etc out- do I really need one or can I hang on until I get home.
* Using up every last bit of toiletry in the bottle- I have made some bits go on a couple of extra weeks by squeezing last drops out or cutting tops off.
* Going through my toiletry supplies- I didnt realise how many body lotions/ shower gels and other gift sets I had been given and just stored away. I shouldnt need any handcream for some time!
* No buying unnessesary toiletries- I am a sucker for a adverts promise- I have found that the vast majority of products do not live up to the tag line and are very similar to products I already have.
* only buying new toiletries when I am genuinely running low.
*do a stock take and make a list before every food shop
* On the last week of the month I try to challenge myself to a shoe free week or only buy very basics such as bread and milk. I then use up items that I have brought during the month and not eaten, even if it involves some slightly odd combinations!
* no buying lunch at work- I make some pasta or something up the night before.
* washing machine now on the 20 degrees programme instead of 40- Ive noticed no difference in quality of cleaning from it.
Im sure theres more!January 2020- starting point! Update jan 2021
Loan 1: £10798 £5637
Loan 2 (DH) £4586 £3280
Credit card 1: £2496 £1755
Credit card 2 (DH): approx £1000 £600
Mortgage: £234,235 £227,746
Total debt: £252,125 £239,018
Savings approx £2k. Approx £9k2 -
Good list to have and remind yourself of if you ever fall off the wagon in futureAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/250 -
Oooh I've thought of some more....
*through lockdown I have discovered that my kids are just as happy going for a family bike ride or walk as they are on a more expensive day out.
*frozen fruit and veg is far cheaper, lasts longer and most of the time works just as well in recipes.
* I have found that a lot of own branded items are just as good as the branded. We have made a lot of switches!
* ebay is my friend for work clothes. Ended up taking most of what I had brought new back and buying second hand off ebay. I am very pleased with the majority of my purchases and I saved a small fortune.
* a sort out of my 'useful drawers' showed me I never have to buy pens, other stationary, birthday cards and a load of other random stuff again
January 2020- starting point! Update jan 2021
Loan 1: £10798 £5637
Loan 2 (DH) £4586 £3280
Credit card 1: £2496 £1755
Credit card 2 (DH): approx £1000 £600
Mortgage: £234,235 £227,746
Total debt: £252,125 £239,018
Savings approx £2k. Approx £9k3 -
Some more great lessons there - like you I need to make those stick.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/250 -
I've stayed away from posting for a little while (I was boring myself let alone others haha!). I have remained a lurker though.
Thought i would come back for a 6 month catch up though. Pretty proud of myself. Overpayments have fallen by the wayside a bit but i feel far happier with my emergency fund.
I have been one of the lucky ones during the Corona virus pandemic in that i have worked as normal throughout at my normal workplace so I have been lucky enough to be on full pay. That coupled with lock down has meant that I havnt been able to do my normal frittering.
Just got to keep it up and stop myself slipping in to my old ways.
I've had a good declutter over the last few weeks and the car is all packed up for a carboot tomorrow. I would be chuffed to raise £100 pocket money for my break to the seaside next week!January 2020- starting point! Update jan 2021
Loan 1: £10798 £5637
Loan 2 (DH) £4586 £3280
Credit card 1: £2496 £1755
Credit card 2 (DH): approx £1000 £600
Mortgage: £234,235 £227,746
Total debt: £252,125 £239,018
Savings approx £2k. Approx £9k2 -
Hope you do well at the car boot and have fun at the seaside. I've missed the sea. May go and look at it next weekend!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/250 -
I love the seaside too savingholmes....something so calming about it :-)
Not a bad morning, a good declutter and £157 made. That's our ice cream and arcade money sorted !January 2020- starting point! Update jan 2021
Loan 1: £10798 £5637
Loan 2 (DH) £4586 £3280
Credit card 1: £2496 £1755
Credit card 2 (DH): approx £1000 £600
Mortgage: £234,235 £227,746
Total debt: £252,125 £239,018
Savings approx £2k. Approx £9k2 -
Well done on the car boot that's amazing!Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 £4.8K updated 29/7/250
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