£80,000 in 4 years

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  • try_harder
    try_harder Posts: 1,527 Forumite
    First Anniversary First Post Combo Breaker
    Another two hundred in to the mortgage today and another fifty in to the savings challenge ,j now need to make another fifty by the end of the week .Food budget not so good as we are on holiday this week and having days out has been costly
  • savingholmes
    savingholmes Posts: 27,345 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Well done on the OPs and the sales. Good luck with finding the missing £50. I can see how it must help breaking it into weeks rather than having a single overwhelming monthly target
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works & new patio door £11.9K
    3) CC £3.9K on 0% spends card but offset by £34.1K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • try_harder
    try_harder Posts: 1,527 Forumite
    First Anniversary First Post Combo Breaker
    savingholmes ..My husband gets paid weekly which is the great thing ,we live to a budget as far as possible as he only earns just over the minimum wage but works a lot of extra hours every week which is great as i dont work .We then take the £400 straight out every single week usually £200 first then once we know we are nearly through the week and managing ok then we pay out the other £200 ..With the MC i usually aim for £100 a week but if i buy some jewellery to resell i can possibly double the money .So far this year i have made an average of £200 a week This week ,week 5 i am at just over £150 so i try to  challenge myself to find the last fifty somewhere either in survey payouts ,food savings ,petrol savings ,interest payments ,bank switches ,selling something etc ,i find it works very well doing it weekly and its also very motivating
  • try_harder
    try_harder Posts: 1,527 Forumite
    First Anniversary First Post Combo Breaker
    Tats22..I do that too sometimes if i cant sell some thing after a few weeks it goes to the CS in fact i have a box full now ready to go ..Re your mort could you start OP a small amount now with a view to increasing it in the last say five years ..We have been very lucky too that our house has increased in value massively so if we moved now we could still buy a nice home and be mortgage free ,im sure it will be the same for you in 12 years time
  • try_harder
    try_harder Posts: 1,527 Forumite
    First Anniversary First Post Combo Breaker
    Thank you MvTMM..Hopefully you can join me if only in a small way to start with ..
  • try_harder
    try_harder Posts: 1,527 Forumite
    First Anniversary First Post Combo Breaker
    End of week 5 , a little late but here are the numbers ..£400 OP to the mortgage this week again .

    MC .Just over £180 this week making an average of £196 a week over the five weeks ,i really wanted to get this to an average of £200 a week so i will try really hard this week to get the number up ,this would be £10,000 a year going in to our ISAs so this will be the aim for 2022..So far half of the money is in our ISAs and the other half in jewellery to sell ,very happy with this as i have bought some funds that had dropped 34% so im hoping that i will gain somewhat in the future 

  • savingholmes
    savingholmes Posts: 27,345 Forumite
    Name Dropper First Anniversary Photogenic First Post
    Making great progress. Thanks for the weekly pay explanation
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26%
    2) Spend on handyman & external building works & new patio door £11.9K
    3) CC £3.9K on 0% spends card but offset by £34.1K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £9.6K/£127.5K AVC target 7.5% value @15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • try_harder
    try_harder Posts: 1,527 Forumite
    First Anniversary First Post Combo Breaker
    Thank you savingholmes
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