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Mortgage free by 2025
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Nap and trip to the coast were much needed thank you @savingholmes. Hope you had a good weekend.
Mortgage interest applied today. £60.25 so approx. £2 per day. The btl is going through so hopefully by the end of Nov/Dec we will be in a position to pay off our mortgage.Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0002 -
Exciting on BTL. When does your ERC on your current mortgage end? Do you have to wait for a particular date before clearing it?Achieve FIRE/Mortgage Neutrality by mid 2030
1) MFW Nov 21 £201,999 with 232 payments to go - now £179,808 Equity 28.07%
2) Spend on handyman, external building works & new patio door £13.45K
3) CC £7K on 0% spends card offset by £32.7K savings (part EF, part future home improvement)
4) Mortgage neutral by June 2030 AVC £12.1K/£127.5K AVC target 9.51% value at 17/9/24
5) FI Age 60 annual income target £13.7/30K 45.7%
6) SIPP £4.2K at 15/9/240 -
Very small ERC @savingholmes. Will be saving cash if I pay the mortgage off early with the ERC over normal payments with interest until the end of the fix in August 2023.Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0002
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Payday today so I have made an op of £290 on the mortgage. The balance now stands at £52,770.54.Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0001
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Dh has bought me an air fryer. I believe they are cheaper to run than an oven. I have already made a few meals which were really successful.
We are still eating our way through some food which didn't get cooked at our bbq which was put in the freezer. Chicken legs (cooked in the new air fryer) for dh this week for lunches, chilli (made from burgers) and toad in the hole and hotdogs from someone chipolatas - very MSE!Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0002 -
The survey is being done on the btl on Monday which is nice and quick - hopefully the rest will happen quickly too!Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0001
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Very exciting on your rapid movement to MF and the BTL..
Never thought about making meatballs from YS burgers but I will try it
I love my 6 in 1 - pressure /saute/steam/slow etc cooker and I have a halogen oven as well. I have not turned my oven on since getting the 6 in 1 .I like the idea of an air fryer but gather the halogen is v similar so. All these smaller appliances are great though - definitely cheaper to run especially as a smaller space and generally much quicker as well. Definitely the future of cooking.
If I turn my oven on I will ensure I fill it to the max.DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest2 -
Lots of fab progress. Air fryer sounds goodAchieve FIRE/Mortgage Neutrality by mid 2030
1) MFW Nov 21 £201,999 with 232 payments to go - now £179,808 Equity 28.07%
2) Spend on handyman, external building works & new patio door £13.45K
3) CC £7K on 0% spends card offset by £32.7K savings (part EF, part future home improvement)
4) Mortgage neutral by June 2030 AVC £12.1K/£127.5K AVC target 9.51% value at 17/9/24
5) FI Age 60 annual income target £13.7/30K 45.7%
6) SIPP £4.2K at 15/9/241 -
Oh I love that you have booked a holiday, so well deserved! Exciting news about the BTL as well, how fab!2
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Thank you @LadyWithAPlan, @savingholmes and @Aimingforthegoodlife.
Since dh got the airfryer, I have not used the oven. It's quicker to cook with and doesn't need to be pre-heated. I have cooked, chicken, sausages, part baked bread, jackets, new potatoes. Going to attempt toad in the hole and lasagna next week.Mortgage balance as of 21.7.21 - £75,766. (7 yr mortgage on 2 yr fix of 1.32%)Mortgage balance as of 20.8.22 - £58,445.08o/p 2021/2022 = £6,313/£7,500o/p so far 2022/2023 = £5,997/£5,997 Goal 1 - to be under 60k by 20.7.22✔️Goal 2 - to op 10% of mortg by 31.12.22✔️Goal 3 - to pay off mortgage by 7.1.2023 (Subject to sale of btl property)✔️Goal 4 - to pay off cc by end of Jan 2023 - £260.64/£1500Goal 5 - to pay off car loan by 31.8.23 - £1722.39/£10,0002
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