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Halving our income and still aiming for mortgage free!

smetf · 2021-07-15 19:42:12

Hi everyone, A long time lurker of DFW forum, and then here. Finally starting my own diary as I feel it will help keep me on track! As the title suggests we are halving our income as I have resigned my job in order to keep sane and support DD with home educating for the next year. The last two years we have managed to…

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smetf Posts: 362 Forumite

5 August at 10:06AM
Made the extra OP of £100.
A new deal on broadband has saved us £8 a month (added to monthly DD house and home savings) and have reduced our electricity DD by £35 a month from next month as we're in credit - have added this to Mortgage DD plus £15 to round us up.
This means from next month we will be paying £1200 a month, £200 interest and the rest off the total. If we just do this the mortgage will be done in 3y 9 months 🎉
Emergency fund 13.5k Home/ holiday fund 6.5k Mortgage £45,614
MFW 2022 #35 10,000
MFW 2023 #3 10358.97
MFW 2024 #3 10000
MFW 2025 #3 6945.69/10000
MFiT-T7 #10 aiming for 16k
https://forums.moneysavingexpert.com/discussion/6283332/halving-our-income-and-still-aiming-for-mortgage-free#latest
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