We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

happihorse's journey to mortgage freedom and contentment…

Options
145791016

Comments

  • happihorse
    happihorse Posts: 182 Forumite
    First Post Name Dropper First Anniversary Combo Breaker
    edited 10 February 2022 at 10:49PM
    Options
    savingholmes said:
    Great result on the vouchers.

    Well done on the op. 

    Energy bill sounds great. Just be aware they are going up dramatically in April
    Thanks savingholmes

    It's hard to know what to expect with the energy prices really and how to budget for them, especially as I don't know how much this house will really cost to run.  I am working on the basis they might double so will budget say £150 per month which is probably more like 150% extra.  Hopefully that will be enough!  Although I do try to limit my usage as much as possible.
  • happihorse
    Options
    I am so glad it is nearly the end of the working week.  I would have been quite happy to do another 4 day week like last week.  I am thinking of taking another Friday off again soon to have a long weekend.  B)

    It's been a fairly good week.  In money news, the solicitor's compensation finally came through.  That meant I had enough to clear last month's credit card bill which I did today - that always feels good.  The water bill landed although that was only £80 for 3 months which I didn't think was too horrendous.  I paid that on my credit card.  As it stands (and with the council tax free months) I should be back on an even keel next month (ie clear the credit card and still have some funds in the current account)!  I would like to keep a couple of hundred float in there which should be achievable when I get paid at the end of this month.

    Other spending has been okay - not perfect by any means and still bought a few bits and bobs but much more considered.

    I have been out and done my walking each day so hitting my step and active minute targets.  Some nights I am a few short just before I go to bed so end up walking round the bedroom but it is such a relief when it hits the 10,000 and I can go to bed!  I am up to about 120 miles walked so far this year so it's starting to rack up.  :D

    Got one load of washing done and dried outside today and will get the bed and whites done tomorrow as the weather is meant to be good again.  As well as cutting costs it means I have more time for fun stuff at the weekend.  :p

    I had my appraisal at work this week which went okay.  However, it transpires that (due to issues outside my control) the opportunity for promotion won't happen this year and is more likely to happen next year.  I am glad in some ways as it gives me a bit more time to prepare.  However, it has made me re-think my financial plans (and perhaps about the car too).  I was thinking I would use any extra pay to boost my pension but as that won't happen I might reduce my mortgage overpayment and start putting a bigger chunk into my pension.  I will need to play around with the figures again to see what works best.  I am also thinking that it is going to be a very hard 10 or 15 years at this rate with very little money to enjoy or do much more than live a very basic life which seems a waste while I am still young(ish).  This is just another example of me trying to run before I can walk...
  • savingholmes
    savingholmes Posts: 27,886 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Options
    Sounds like a good course correction. Your future self will thank you for good budgeting but none of us know how long we have so we need to create joy in the every day too.


    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 234 payments to go - now £181,773 Equity 27.3%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £8K on 0% spends card but offset by £34.3K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £11.3K/£127.5K AVC target 8.97% value at 15/7//24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.3K at 12/7/24
  • happihorse
    Options
    savingholmes said:
    Sounds like a good course correction. Your future self will thank you for good budgeting but none of us know how long we have so we need to create joy in the every day too.
    Thanks savingholmes - balance is definitely key (and something I am still learning in almost every aspect of my life)!
  • happihorse
    Options
    Good morning to anyone reading.

    I had a lovely relaxing and fairly productive weekend.  B)

    I still haven't got the spending fully under control but it is improving.  Extra spends have been minimal.  It did include a snake plant for the house (which I have been looking for for ages) although it has 3 plants in one so I am looking to split them and then have 3 so that's kind of money saving!  Other spending was minimal and I have started a 'wants' list so that I can put ideas on there but reflect on whether or not I really want them over a few days and come back to them if I do rather rushing into spending.

    In other money news I have £50 in my current account to last me until payday next Friday.  The credit card bill is currently at £575 so, when that and my mortgage payment goes out by the end of the month, I will have just over £500 for the next month.  That needs to include living expenses and bills so should just about be doable.  I am then looking to save about £200 from the following month's pay to give myself a bit of a float in my current account.  :)

    I also spent some time over the weekend looking at longer term financial planning and I will put some figures in a separate post later today to summarise my current thoughts.

    Still been sticking to the walking and hit my step and active minute targets.  There is also some (very slow) progress on the scales too so heading in the right direction.  However I really need to get my backside into gear on that front!  :p
  • South_coast
    South_coast Posts: 5,052 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Just had to Google a snake plant as I'd never heard of one before, and discovered my Mum has lots of them - not heard them called that before 🤣🤦‍♀️!

    Well done on the progress with the scales. They do say it's 80% diet and only 20% exercise, which is a shame!
    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!!!
  • Aimingforthegoodlife
    Options
     Hi HH! You are doing a good job, it is so difficult to find a balance and keep on track! Amazing work on the walking, have you joined the 1000mile challenge on facebook? It is a walking group created a few years by a walking magazine and keeps on going! It is good for a boost in motivation! :smile:
  • happihorse
    Options
    South_coast said:
    Just had to Google a snake plant as I'd never heard of one before, and discovered my Mum has lots of them - not heard them called that before 🤣🤦‍♀️!

    Well done on the progress with the scales. They do say it's 80% diet and only 20% exercise, which is a shame!
    Thanks South_coast.

    There is a much longer Latin name for them but I can't remember or spell that so stick with the simple one!  Apparently they are meant to be 'air-purifying' although I just like having plants around the house.

    That's very true re the diet - no point burning 3,000 calories and then filling your face with junk!
  • happihorse
    Options
    Aimingforthegoodlife said:
     Hi HH! You are doing a good job, it is so difficult to find a balance and keep on track! Amazing work on the walking, have you joined the 1000mile challenge on facebook? It is a walking group created a few years by a walking magazine and keeps on going! It is good for a boost in motivation! :smile:
    Hi Aimingforthegoodlife - maybe balance should actually be my number 1 goal because so many other things would be better if I could achieve that!  :*

    I will look that Facebook group out - thank you!
  • happihorse
    Options
    So, back again!

    Had an okay day at work - kept hours under control and went out for a good walk at lunch time.  Even managed to miss the torrential downpour we had early this afternoon.  Plus I have already hit my step and active minute targets so can chill for the rest of the evening.  B)

    I did have one nice unexpected surprise on the money front today - I sold some old surplus horse stuff and have been paid cash for it so that's another £200 better off than I expected!  :D  I was contemplating paying it into the bank so I don't fritter it but am going to keep it in cash (but in a separate envelope) and use it for the weekly shopping.  It would be good to keep the credit card pretty clear next month so I can get fully back into the black.

    As I was saying earlier I have been giving some thought to pension etc so will do a separate post on that now.
Meet your Ambassadors

Categories

  • All Categories
  • 344.7K Banking & Borrowing
  • 250.6K Reduce Debt & Boost Income
  • 450.4K Spending & Discounts
  • 236.9K Work, Benefits & Business
  • 610.8K Mortgages, Homes & Bills
  • 173.9K Life & Family
  • 249.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards