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Learning to walk before I run
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1.5 hours of overtime yesterday evening and 0.5 this morning. Will probably do another 1.5 this evening.£2.53 OPed (cashback and reclaimed money from a budget line that was too high).Down in the dumps, rainy and work is challenging
Edit: and bank have dropped our valuation by c. £17,000, there goes our £100
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Eeek. That's not nice. I've been there. So frustrating.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £1.3K Net savings after CCs 16/1/26 (but owed £1.1K) so £2.4K
3) Mortgage neutral by 06/30 (AVC £34.8K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 40.6/£127.5K target 31.8% 16/11/25
(If took bigger lump sum = 62.7K or 49.2%)
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 £5.2K updated 16/1/264 -
Woke up early, fretting.
- Decided to behave myself so did an hour of overtime (£32 before deductions), will finish early today as 6-6 is not healthy
- £2.96 OPed
- Earned next fiver on Prolific, but can't withdraw yet
5 - Decided to behave myself so did an hour of overtime (£32 before deductions), will finish early today as 6-6 is not healthy
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Can I ask a stupid question? If my key facts illustration says I'll repay £2.61 per £1 borrowed and I OP £1, am I saving £1.61, as I'd have had to pay the pound regardless?5
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Sounds logical to me.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £169.8K Equity 37.1%
2) £1.3K Net savings after CCs 16/1/26 (but owed £1.1K) so £2.4K
3) Mortgage neutral by 06/30 (AVC £34.8K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 40.6/£127.5K target 31.8% 16/11/25
(If took bigger lump sum = 62.7K or 49.2%)
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 £5.2K updated 16/1/265 -
£2.75 OPed and £7.07 withdrawn from Prolific, £5 of which I used to buy my ticket to take DD1 to the cinema to see Casper at the weekend
Used Topgiftcards to buy a voucher (4.05% cashback + 1% cashback from Chase). 6 -
Yes, from the point when you pay it - so that interest stops compounding at the point you pay the capital it applies to. Not necessarily £1.61 therefore, but a good part of it.edinburgher said:Can I ask a stupid question? If my key facts illustration says I'll repay £2.61 per £1 borrowed and I OP £1, am I saving £1.61, as I'd have had to pay the pound regardless?
Back in the 1990s, you had to state you wanted your OPs to come off the capital and not be treated as interest up front payments!!
Save £12k in 2025 #2 I saved £14,660.97 of £6000 or 244.35% of my target. The 2026 Save £12k in 2026 thread is here
OS Grocery Challenge in 2025 I finished the year at £2880.99/£3000 or 96.03% of my annual spend so I am sticking with a £3000 annual budget for 2026
I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the grow your own in 2026 discussion thread
My keep within our budget diary is here6 -
You still do have to specify with most banks.Suffolk_lass said:
Yes, from the point when you pay it - so that interest stops compounding at the point you pay the capital it applies to. Not necessarily £1.61 therefore, but a good part of it.edinburgher said:Can I ask a stupid question? If my key facts illustration says I'll repay £2.61 per £1 borrowed and I OP £1, am I saving £1.61, as I'd have had to pay the pound regardless?
Back in the 1990s, you had to state you wanted your OPs to come off the capital and not be treated as interest up front payments!!7 -
It has been raining fairly heavily since yesterday evening
£2.04 OPed, this is about as exciting as my finances will get today
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Weather raining here heavily today too.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.6
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