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£100,000 in 5 years
try_harder
Posts: 1,532 Forumite
So yet another new diary ,hopefully this time I can stick with it ,I don't seem to be very good at updating sadly ..Anyway due to selling several items that we had inherited years ago plus a small amount of money that we had managed to save this year we now have around £100,000 left to pay . we have approx. five and a half years left but just in case we don't manage it and have to sell our house I am rounding it down to five years.
I am hoping to save £1666 each month a big ask in these difficult times and as always completely reliant on my husbands business
I am hoping to save £1666 each month a big ask in these difficult times and as always completely reliant on my husbands business
3
Comments
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Hello again Try Harder. Great to see you back. Great news about your windfall, that has made quite a difference to your mortgage. Hope you will manage to keep updating as it does helpx2
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Thank you Busy Mee I really will try ..Thank you for your support as always1
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Good luck on your journeyAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 13/9/251 -
Thank you savingholmes0
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Good luck. I hope you look back in 5 years and are MFMortgage 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 swimming0
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Thank you longway2go1
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Week 1/260
£432.42 savings
£126.92 float
This is a very good start ,my husband has worked very hard over the last seven days ,he is amazing as always
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Hi Try Harder,
I have a similar goal to you, 5 year mortgage free (I hope) but with a £108500 mortgage. Just not sure where to begin. So will be following with interest.
Bizzy1 -
Thank you Bizzywizard ,good luck to you too ,we will have to keep each other motivated1
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Great start Try Harder. Great that your husband has still been able to work x1
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