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So close, we can smell mortgage freedom!

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Comments

  • Suffolk_lass
    Suffolk_lass Posts: 10,509 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 2 October 2022 at 12:24PM
    Thank you. It's really helpful to have a comparison before the winning bidder from Solar together contacts us. I suspect our SW backing (slate) roof could take 8 or 10 panels as the roof extends beyond the building, so there is a covered area for working outside, sitting, or just getting wet gear off without being indoors. 

    What is clear is that the panels will be a drop in the ocean in respect of what we use and our hope is to top up with batteries so we can store white meter night rate electricity to mitigate some of the cost. Our current tariff does run until 31 August 2023 and I know that is affordable so any changes need to be in place before that increases for winter 2023/4. 

    I have been looking at how much our 4 oven electric aga costs to run. It is a discontinued model and not listed on their website but the nearest is 270 kwh per week. Pre 1 October price cap change they estimate it costs just over £75 per week. Just EEK!
    Save £12k in 2025 #2 I am at £10,020.92 out of £6000 after September
    OS Grocery Challenge in 2025 I am at £2234.63/£3000 or 74.49% of my annual spend so far (not going to be much of a Christmas at this rate as no spare after 9 months!
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
    My new diary is here
  • newgirly
    newgirly Posts: 9,426 Forumite
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Name Dropper
    Oh my goodness a week 😱
    MFW 67 - Finally mortgage free! 💙😁
  • savingholmes
    savingholmes Posts: 29,089 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    newgirly said:
    Oh my goodness a week 😱
    Eeek

    Good luck with the solar. I'd love to be more self-sufficient - but would want to save first... 
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £171.8K Equity 36.37%
    2) £2.6K Net savings after CCs 10/10/25
    3) Mortgage neutral by 06/30 (AVC £27.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 34/£127.5K target 26.6% 10/10/25
    (If took bigger lump sum = 60.35K or 47.6%)
    4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
    5) SIPP £5K updated 10/10/25
  • Karmacat
    Karmacat Posts: 39,460 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    For me, I suppose, the things I'm doing are helping the eventual aim of being as self sufficient as I can - there's a pithy environmental saying about it that I can't remember for the life of me, about reducing outgoings before you spend big money on new inputs.  
    2023: the year I get to buy a car
  • themadvix
    themadvix Posts: 9,145 Forumite
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Photogenic
     Sorry Karma, I also meant to say that it’s definitely important to do the smaller steps - and that’s certainly all I would be able to afford without Mr MV. Every little makes a difference and a lot of the time the big stuff has it’s own issues. 
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • Karmacat
    Karmacat Posts: 39,460 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Not a problem :):):)  loving what you're doing.
    2023: the year I get to buy a car
  • You are so busy ! Loving hearing about the solar panels and what you are managing to get, helps you and the environment so a real win win. I was reading about that Florida  Babcock Ranch who are 100% solar powered and had full power even being in Hurricane Ian. Definitely where technology needs to go.

    Hope your back is better.

    @Suffolk_lass your aga cost - ouch. I love them but it definitely sounds like one needs ones own solar power farm to run one.
    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#latest
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