£80,000 in 4 years

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  • Mrs_Money_Penny
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    Just caught up with your diary. Your doing Amazing well done x
    2024 Decluttering 3273 ⭐️⭐️⭐️
  • try_harder
    try_harder Posts: 1,527 Forumite
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    Thank you very much Mrs_Money_Penny it is so lovely to get so much support it really helps me stay motivated 

  • try_harder
    try_harder Posts: 1,527 Forumite
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    Another £100 paid in to the overpayments so thats £200 so far this week


    Food budget still on target 

    MC ..Having a very slow week with only a few pounds in the pot ..I need to declutter and list today  
  • try_harder
    try_harder Posts: 1,527 Forumite
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    Tuesday already and almost half way through the week and im feeling slightly deflated ,i dont know why ,,sometimes i get fed up with thinking about money and having to put virtually every penny we earn towards a mortgage that really should have been paid off years ago still onwards and upwards ..

    Mortgage overpayment today of £100 making £300 total this week .Total paid in so far this year as overpayments £3100.I have taken the money that i had saved this year so far in PB and paid it into the mortgage ,i am allowed 10% OPs so i thought it would be better to just keep paying the £300 a week in to the mortgage until i reach the 10 % and even then i may continue even if i have to pay charges i will see

    Food budget still beautifully on track ,i have family coming to stay this week so im not sure if i can keep it up until friday

    MC has been awful again this week and half way through the week i only have around £17 although i have just remembered i have some money to be credited from my last energy supplier i might count that in as i am getting desperate ,that has cheered me up a bit .I need to work hard today to get more things listed too
  • savingholmes
    savingholmes Posts: 27,544 Forumite
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    I think it is natural to have ups and downs. Do you allow yourselves some treat £ or is all spare cash going to the mortgage?
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 236 payments to go - now £183,036 Equity 26.8%
    2) Spend on handyman & external building works & new patio door £12.65K
    3) CC £4.6K on 0% spends card but offset by £33.8K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.2K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • try_harder
    try_harder Posts: 1,527 Forumite
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    savinghomes ..Yes i do have plenty of treats really ..I think its just the thought of pouring so much money every week in to something you cant see any reward for if you know what i mean. I would really like to move once the four years are up ,i have seen lots of lovely cottages that i love so i am trying to use that for my motivation and that is certainly helping as i will need the full amount of the house sale to move ..I hope all is going well with you too
  • savingholmes
    savingholmes Posts: 27,544 Forumite
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    Thanks. I lost a couple of roof tiles in the wind but other than that I am doing reasonably well. Big car bill today but was expected - and came in cheaper than the quote so a bit swings and roundabouts.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 236 payments to go - now £183,036 Equity 26.8%
    2) Spend on handyman & external building works & new patio door £12.65K
    3) CC £4.6K on 0% spends card but offset by £33.8K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.2K/£127.5K AVC target 8% value at 15/5
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • Hi tryharder - you are doing so well and have inspired me - i too have similar hopes - i need to pay off this mortgage and hope to move but will need savings for that too. I am finding it harder than i thought not seeing my mortgage balance drop so much (i am saving until the 10% overpayment allowance re-sets)

    I am going to join you on the MC challenge. I have been given an unexpected £30 (it is money paid back to me that i never thought i'd see) will that count? If so - i now need to work on converting into more.

    I haven't been on for a while so just popping in for a catch up with everyone now  :)
    Mortgage Balance
  • try_harder
    try_harder Posts: 1,527 Forumite
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    savingholmes ..Oh no .Do you have to pay someone to come in and put them back ?
  • try_harder
    try_harder Posts: 1,527 Forumite
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    STSS..Good to see you back .

    Yes of course ,that is a very good amount to start with ,now you need to find one, two or more items that add up to a maximum of £30 that you know you can resell even if its only fo a small profit .You need to find something either on a reselling site or car boot or CS ,i tend to mainly buy jewellery but i do sometimes buy other things if i know i can sell it for more than i paid for it ...Let me know when you have bought something /things and what you have paid for them and what profit you think you can make ,even if you sell thirty pounds of items for thirty five pounds you can then buy again thirty five pounds worth of items and hopefully make a profit on them ,or just buy one thing for say five pounds and resell that but make a start 
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