SLLM (Single Lady Large Mortgage)

Sistergold

@savingholmes, have I indeed paid ~22% of the capital? Thought it was ~15%? My maths can be sleepy 😴 sometimes. 

The money I earn is just a function of 20plus years progressing/specialising in the area I work/trained in. As the money went up so did the stress. Believe it or not I don’t even encourage my children to follow in my footsteps as I consider it not good for ones health. I just decided I need to see this life through and continue in the area I did in university. If I did not have as many children as I have I would choose a simpler life. One day if I feel I have reached a good position financially I will just cut my hours in half. For now I am just maxing out to catch up on what I lost through divorce. The money is good that’s the motivation for now. Xx

savingholmes

380/487 * 100 = 78% left ergo 100% -78% = 22% You are doing better than you thought.

I do have a good work life balance and can fit my hobbies around my main job which is positive.

Queen_of_the_Hive

savingholmes said:

You've paid roughly 22% of your capital in less than 2.5 years. That's some going. And saved up the equivalent of another 15%. I have no doubt you'll hit your goals if you keep this level of income coming in - particularly given that's after you also spent £20K cashflowing renovations on a property abroad.

If there any any secrets you can share on how we can up our income then please share whether on the diary or via private message!!

Hi @savingholmes one of the best motivational phrases I ever heard was in paraphrase is your money working the hardest it can for you? So I think this is definitely a good principle to apply. Review and analyse your finances and I think be brave to diversify, multiple income streams, passive incomes etc. 

Sistergold

savingholmes said:

380/487 * 100 = 78% left ergo 100% -78% = 22% You are doing better than you thought.

I do have a good work life balance and can fit my hobbies around my main job which is positive.

Morning @savingholmes, £380k is the target I want to reach before next remortgage but I am still at an annoying £414900 as per previous mortgage balance update 🙇🏽‍♀️ 👇🏾

@savingholmes, it’s good that you have a good work life balance, and you have time for your hobbies! For me since divorce my life is skewed towards work, make the most money, get this done and that! I do take time here and there but I do need to have more drop down days! I do work much less than when I was trying to buy the house though so I am moving in the right direction. With covid though I have tended to work that little bit more as I found it compensated for no holidays and not much socialising. Xx

Sistergold

Oh today is 15th December and mortgage went out yesterday so just to update new balance. 

⭐️

savingholmes

Sorry - I misread your signature. 

Sistergold

savingholmes said:

Sorry - I misread your signature. 

Will get to 22% eventually 🙃

LadyWithAPlan

Sistergold said:

@LadyWithAPlan, The only aspect I look on the interest is how it’s going down from year to year or if I overpay how it then goes down the following month. I don’t want to look at how much I have paid in total as I think it will discourage me a bit. 😏 at the end of my mortgage I will definitely look at the total interest paid and total interest saved. So far it will be discouraging as I seem to have a lot to pay off and it sometimes feels like a far off dream. 

There is no rush with viewings I guess and in the meantime @LadyWithAPlan you will be increasing your savings! Xx

That makes sense Look at what you saved not what you have spent )
I think you re doing amazingly well - knocking 2.5 years off the term is fabulous.

Plus you will be in a situation where you can cut your hours once you have bested this mortgage. I think being single we do tend to want even more security as it is all on our own shoulders, and if you have kids it is inevitable that the security gland kicks in even more..

That 400k mark is just a few months away

Sistergold

Thanks @LadyWithAPlan, you are always so encouraging! Xx yes just can’t wait to just get to that 400k!

Sistergold

Oh what a week! 
My youngest son plays football. The team management had organised a Christmas dinner party which was going to be today. Yesterday the Christmas party was cancelled due to covid some families testing positive and also some families not wanting to risk catching covid. I had paid £5x5 deposit as it was me and my 4 children all going! It was going to be £30 per head and more for drinks. Was really looking forward to it but hey these days plans change by the minute! 

My heart goes to the venue though as this will be a blow to the business. I was going to spend minimum of £150 before talking of drinks and all. 

Business is really hard at the moment! I just pray that this pandemic can be over as this December is looking like last December again! 

Hope everyone is keeping well? 🎉