Future Proofing my life: Deposit saving then MFW journey in under 13 years

IAAM

@LadyWithAPlan - I've just caught up with your journey. Some fantastic tips gained along the way, and also some much-needed food for thought for my own journey. 

One particular thought is whether I should commit more to increasing my pension contribution and enjoy the tax benefit that comes with it - and then use the tax-free cash at a later date to pay off the mortgage.

As a random question though - what is the recommended make/model for a robot hoover? I've never considered buying one before but the comments you got after mentioning your purchase took me by surprise - especially with people saying how great they are. Any "buyer beware" comments before I start costing them up?

savingholmes

Glad the book recommendation was helpful Angela.

ladywithaplan pleased you are getting some regular income. Great news on side hustle potential progress.

Enjoy your celebrations 🎉 too

LadyWithAPlan

IAAM said:

@LadyWithAPlan - I've just caught up with your journey. Some fantastic tips gained along the way, and also some much-needed food for thought for my own journey. 

One particular thought is whether I should commit more to increasing my pension contribution and enjoy the tax benefit that comes with it - and then use the tax-free cash at a later date to pay off the mortgage.

As a random question though - what is the recommended make/model for a robot hoover? I've never considered buying one before but the comments you got after mentioning your purchase took me by surprise - especially with people saying how great they are. Any "buyer beware" comments before I start costing them up?

I think you should do your FIRE figures (I posted on your thread on how to calculate) and then make decisions. As a HR tax payer then paying extra into pension to get down to basic tax payer gives you the best return on investment but you also need cash and you may have a remortgage coming up so may want to get below a certain LTV band.

I have a robo vac (called Balthazar) that also mops ... I dont have pets but they do do ones for extra pet hair. They can get underneath beds etc but do get stuck  so you end up keeping stuff off the floor so you may want extra magnetic strips to ward off areas with unavoidable leads.
I went for a cheap one thats was on sale but works well and has an app

Robot Vacuum Cleaner with mop, 2500Pa Suction with 6 Cleaning Modes, Super-Thin Quiet Automatic, Robotic Vacuums Self-Charging, Path Planning, App with Alexa for Pet Hair, Carpet, Floors G9070

LadyWithAPlan

Awful to read London rough sleeping has increased over 21% since last year and the  news in Korea on the crowd crush. I was out in London yesterday and it was busy but nothing like that.
London i can recall was super busy at Pride this year in Soho and of course when England was winning at football it can be packed but I have never felt worried.

Grocery yesterday - £22 at Mr L. They had ran out of all DF and long life milk Mainly veg and some YS GF sausages. 


MFW savings 11/08/21  £67,711.70        03/10/22     £101,245.6 /£125k
EF £1k/£15k Hse fees £2000/£8,000 - h2b 25%
Savings Oct total £298.21/£3000

Grocery Oct  22 GC £109.42/145   +    0/£55.30 for bulk
NSD Oct 14/17

SIPP               11/08/21     £26,644.38   31/09/22    £32,796.46
FIRE  7yrs 12k pa 10.93%, 16k pa 8.2%. Current spend 9.37%  

DrCarrie

@LadyWithAPlan - I have had a look at your diary...skimmed a fair bit of it, its clear how much you have worked on during the time you have been keeping the diary. Its super inspiring!

I was on the MFW board as next month I will have paid off my debt, and will be saving for a house deposit, and get into debt with a mortgage. 

Look forward to reading about your progress. 

savingholmes

Well done on your progress. Scary times for many. 

WelshmansDaughter

Just caught up on your diary, it has been my down time reading for the last two days. Thanks for the Clever Chef recommendation, we got one and I am nearly using it every day. Plus my brother in law was here when it arrived and is now less afraid of their own pressure cooker! 

LadyWithAPlan

WelshmansDaughter said:

Just caught up on your diary, it has been my down time reading for the last two days. Thanks for the Clever Chef recommendation, we got one and I am nearly using it every day. Plus my brother in law was here when it arrived and is now less afraid of their own pressure cooker! 

Glad you enjoying it I am the same  - daily use. I am trying to get my parents to use theirs - the fear of the pressure cooker once one has exploded is real.
I also use my halogen oven as well a lot - had it for many years and its super useful for chips and roast chicken.
My whole diary is fairly long so well done and hope it wasn't too boring!

I am still eyeing up a breadmaker for GF bread. Tried my parents spare one - its not for GF and bread had to go in (luckily already going) oven for half an hour but the final GF  bread was amazing

@savingholmes Tx - doing this extra job - effectively 2 ft jobs a day for 2+ weeks has been exhausting - a FT and 2 PT  - been getting up early to work on the one, switching to the other and then  as when I am finished on the one at 4pm  I then start on the others to catch up til 8pm plus . (all WFH so) 
So my body telling me I need to get to the gym as my sciatica kicks in if I dont train regularly.
Today and tomorrow is just normal contract work so I am feeling more relaxed.

@DrCarrie said:

@LadyWithAPlan - I have had a look at your diary...skimmed a fair bit of it, its clear how much you have worked on during the time you have been keeping the diary. Its super inspiring!

I was on the MFW board as next month I will have paid off my debt, and will be saving for a house deposit, and get into debt with a mortgage. 

Look forward to reading about your progress. 

Well done on clearing your debt that is a huge thing especially with rate and COL pressures right now. Dont forget to pause and celebrate your huge win of being debt free before you get on the Deposit train
I am also not looking forward to getting into debt with a mortgage so whilst I have this amazing place to live in I am currently going for the max down plan. 

savingholmes

Well done on juggling all the roles. Not surprised you need the gym to help you recover 

KajiKita

I remember working two part time jobs as student - 7 days a week as a chambermaid, so an early start and three days a week as a barmaid, so late nights. By the end of of that summer I was on my knees and in the full flush of youth and energy! 

Oh and I pretty cleared my huge OD, so treated myself to a silver bracelet so I had *something* to show for working all summer and got lectured by a woman at the bank for not having cleared all my OD! It was at that point I thought ‘stuff it’ to the levels of debt I was getting into, as I was getting told off anyway fro having worked my tush off all summer ….! 🙄😳😂😂😂

KK