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Thanks leigh, you are doing so well too! 3 years is no time left to wait.1
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Well done @Cotswoldfoodie for making the overpayment! Covid has certainly added complications but I totally agree with your approach. I've probably had the same "spending money" budget for over 5 years despite getting the odd payrise because I figure if I don't get used to it, I won't miss it! I treat my regular overpayment as a normal outgoing, it isn't optional.
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Evening all! Very satisfying day today as made my last OP for the year of £4645 and (drum roll please) I've got my balance down to under £100k! So this year I've paid off a grand total of £18,706 which I'm pretty chuffed with.
I've got £1400 I can OP next week as well once the 2021 "10%" kicks in and will then be back to a regular OP each month. So the aim for next year is to get it down to somewhere in the £75-£80k bracket.
Current prediction is to be MF sometime in late 2024. Excited MFW!4 -
Excellent, fantastic work 😀!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!!!1 -
Fab progress. Sounds like it will be a very Happy New Year.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 -
Thank you south coast & Holmes, a good new year indeed :-)1
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Great progress! Well done.2
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Your posts are very encouraging.
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Excellent start to the new year! The mortgage will be all over with before you know it.Mortgage start date Dec 2015 - $64,655.00
Mortgage end date Dec 2045 - NOT!!!!
Mortgage balance - $4600.00
Business Savings $43,310/100k
Hope to be mortgage-free by end of 20231 -
Wow welldone!Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓1
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