Mortgage free by 2025

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  • savingholmes
    savingholmes Posts: 27,375 Forumite
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    Mortgage free date edging closer sounds lovely. 
    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 £12.3K
    3) CC £4.9K 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 at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
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    Payday today so I have op'd £366. Balance now stands at £51,516.42.

    Not much planned for November and going to try to keep it that way as I know December will be busy and expensive. I have started doing some Christmas shopping to help spread the cost. We save monthly from January so that always helps.

    Looking at holidays for next year. The earlier I book the longer I have to save the money therefore I don't see it as such a big expense!

    I am yet to put my heating on - it's still mild here in Cambs. In the six weeks i have had my airfryer, I have only had my oven on once and that was only on for 15 mins. I have made a list of meals where I only use the hob and/or airfryer so that I don't use the oven. It will be interesting to see my usage for October with the new price cap. I turned of the second fridge freezer, turned the boiler off when we went away for a week and not used my oven. 

    5lbs off in 10 days so back to pre holiday weight. Still got another 4 stone to go!

    Enjoy the rest of the 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/£10,000
  • LadyWithAPlan
    LadyWithAPlan Posts: 2,198 Forumite
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    I have not had my oven on since I had my 6 in 1...instant pot thing ...
    well done on the weight loss, I am jealous on your autumn sun holiday
    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    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’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. 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.

    My March  streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 50
    Exercise streak  
    YNAB days:: Target 50 days -Age of money 29
    Track my NSD's - Target 13 days/ 0/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • savingholmes
    savingholmes Posts: 27,375 Forumite
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    Well done on the weight loss. 

    Sounds like you are keeping the energy bills down too. Congrats on the OP - not long now until you are mortgage free!
    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 £12.3K
    3) CC £4.9K 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 at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
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    Thanks @LadyWithAPlan and @savingholmes.

    Another 2lbs lost over the last 10 days - it's heading in the right direction.

    October energy bill is under £90 for duel fuel. Switching the second ff off in the garage means I didn't notice the Oct price increase. Still have not put the heating on but we have used the log burner a couple of times this autumn. The second ff will need to go on for approx 4 weeks for Christmas food and drinks but I will switch it off again in January until May time.

    After the monthly mortgage payment was applied to the mortgage the balance is £50, 571.63. By the end of December it should be around £49.5k which is roughly how much profit we should be left with when we complete on the btl. The sale of the btl is going slower than I hoped but dh is on the case. I'm hoping we complete by end of November, but realistically I think it may be end of December or even into January!
    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/£10,000
  • savingholmes
    savingholmes Posts: 27,375 Forumite
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    You are doing well overall. Scary how much difference individual appliances can make.

    Best of luck with the sale
    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 £12.3K
    3) CC £4.9K 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 at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
  • LadyWithAPlan
    LadyWithAPlan Posts: 2,198 Forumite
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    Yes my second ff has been off since May as I was going away so emptied it then and not switched back on 
    My main ff is full though now.  Need to eat down 

    Hope your btl sale goes thru ok - I am pausing my flat looking at present like many 
    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    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’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. 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.

    My March  streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 50
    Exercise streak  
    YNAB days:: Target 50 days -Age of money 29
    Track my NSD's - Target 13 days/ 0/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • Mickyh-s
    Mickyh-s Posts: 287 Forumite
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    We exchanged on the btl today and hope to complete on the 30/11. We should be able to pay off our mortgage on the 2nd or 3rd of December meaning mortgage free 5.5 years early. 

    I will then concentrate on paying off a small amount I have on my N3xt account, cc no. 1 and my car loan, in that order flowed by cc 2 which is on 0% for 12 months. Need to start saving for next year's holiday 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/£10,000
  • savingholmes
    savingholmes Posts: 27,375 Forumite
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    Fantastic news. I bet that's a relief.
    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 £12.3K
    3) CC £4.9K 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 at 15/4
    5) FI Age 60 annual income target £13.7/30K 45.7%
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