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10 years to clear £334K - our FIRE journey

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We bought our house late 2014 and have been (very) gradually doing it up. So far we have replaced the roof, oil tank and boiler and completely refurbished the study, living room and one bedroom.  We have three bedrooms, bathroom, kitchen and utility still to go.

We recently re-mortgaged and have released some equity to do some work and build a workshop in the garden.  OH's hobby is doing up old cars and he rents a unit nearby which costs a lot so we want to build something here so he can do away with the unit and we can funnel the savings into the mortgage.  We've fixed for 10 years at a better rate than our previous mortgage so the increase is only around £150 a month.

Both mid 40s and would like to retire before 60. Ideally we'd like to finish at 55 which is 10 years away and my aim is to have the mortgage cleared by then so we don't need to use any pension TFLS to pay off the mortgage. 

I start a new job in May which is a significant increase in salary and OH earns a very good wage but we've got a bit carefree with our spending so I want to use this diary to keep myself accountable.  Will be a mix of mortgage OPs, renovations and building works and savings for retirement.

Starting balance on 18th March 2022 - £333,999 
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  • CCW007
    CCW007 Posts: 867 Forumite
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    Slight change of plans yesterday as I managed to nab some free wood on freecycle so that was two trips in our van and loading / unloading each end by myself.  Should do us for a lot of fires next winter and save on heating oil so good work.  Today we moved the pile of logs as where I had put it was in the way (to be fair I didn't have much time to decide where to stack it!)  

    Went to get a few bits at Co-op but used the points on my loyalty card.  OH has just gone out to get diesel to move one of the less mobile cars so that will be a few quid.  Bought some of our fave cereal bars on the big river site as they were on offer for £6 for 5 .  Total spends should be less than £20 (hopefully!)
  • CCW007
    CCW007 Posts: 867 Forumite
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    Spendy couple of days, mostly planned.  Tomorrow our cat has to go to vets for consult on major dental work (and maybe stay in to have the work done) which will be expensive so really need to reign in the spending for the next couple of months to cover it.

    OH looking at three more cars which we have no space for  :#  

    Yougov at over £40.  Got a couple of bits to list on eb@y.
  • CCW007
    CCW007 Posts: 867 Forumite
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    Been through Amazon S&S deleting subscriptions.  Lots of stuff I bought one offs and was in danger of getting more deliveries of.  Also checked the subscriptions I am keeping are still best price.

    Usually buy my cat litter there as not many places sell it (used to buy it at Zooplus but they stopped stocking it) but looked and it's virtually the same price at PAH plus I can get cashback for a new subscription there so have done that - £5.30 if it tracks.  Have paused Amazon subscription for the month.
  • CCW007
    CCW007 Posts: 867 Forumite
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    edited 31 March 2022 at 1:50PM
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    £9 OP sent to mortgage to see how easy it is and how quickly it updates. V easy and not yet are the answers!  First payment tomorrow but guess it may not update balance until Saturday.  Tragic how excited I am to see this! 

    App for last mortgage was pretty poor, am hoping this one will be better - just being able to send an OP without going into branch is a massive bonus! 

    Am going to set myself a target of £150 for groceries in April.  Shouldn't be hard as have plenty of food in and get fresh fruit / veg from Olio but I can never ever stick to a budget so will see how we get on! 

    £4.42 tracked for the litter - presumably exc VAT which always catches me out!
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