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Dipping my orange toes into the water..
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Just caught up. Very impressive scores on your MEd.
Good mortgage rate for current rates - well done - and fab result on reducing the term.Achieve 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 29/7/250 -
We are currently overpaying by £35, mostly to make us feel better 😂
Think I have to focus more on the reducing term, rather than ops currently.
2023 Starting amount: £253, 655.18
Current total: £231,861.49Total reduction this year: £21,793.69One more masters assignment to go- the dissertation..cannot wait to be finished with this. Definitely plotting my reward already.
Total amount to 2023 goal : £8,861.49
Term remaining - 8 years 3 months1 -
Great progress And under 4% rate is good vs market now - but yes £400 extra in interest just hurts!DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest1 -
Yes @LadyWithAPlan it is indeed painful but as you say the market rates are still worse so must be grateful and keep plodding!2
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Oooh new bracket alert!!
New total - 229,885.202 -
Woohoo 😀😀😀!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 -
Thanks @South_coast 😃😃🙏2
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Well done you! Good to see you are still progressing well.Achieve 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 29/7/251 -
Thanks 👍 @savingholmes1
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Feeling a bit meh. Had a job interview. Got to the final 2 but didn't get it..three day process so feeling wiped out from that. And fat! Gah. Must do something about my weight.
To improve my mood this morning I am doing a house blitz!
Wish me luck!1
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