10 years to clear £334K - our FIRE journey

CCW007

Not just me then on the unachievable to do list

South_coast, well done on the new purchase cards - I've never thought about 0% on purchases (except when we needed to pay for a new boiler and I took one out at the right time to do so) but it's another way to achieve the same end as BTing to pay off my monthly credit card spend so I should investigate it in future, particularly if no BT cards are worth having.

Payday tomorrow so money shuffling will happen.  It feels a bit anti-climactic because it's all mapped out in a spreadsheet so there's never going to a surprise - either good or bad!

South_coast

I know that feeling, I've just done mine! It's good to know I can stick to a plan, but just moving money where I know I'm moving money and the amounts being what I'd planned is very boring 🤣!

KajiKita

Thanks @CCW007 - I will have rummage and see what I can do with that. I’m thinking take one out now, transfer into a higher interest no access account (1 year) and then retrieve, pay off card and keep interest accrued well before October next year when I want a squeaky clean credit record ready for remortgaging. 

KK

CCW007

Mortgage value - £316,773.23

WIOTW - £281,334.75 - increase of £2,358.07 (oops!)

Target to reduce by end of year - £21,334.75 or £3,555.79 per month

Projected by end of July - TBC due to stoozing

CCW007

Expensive month due to car purchase and holiday - first time away in five years though.  Need to figure out all the costs before I can predict end of July figures. 

Once we are back, the focus will be on selling cars so hopefully we will see that WIOTW number coming down dramatically!  We should also be on course to reduce outgoings by £500 per month potentially by end of September but more realistically by end of year.

Following on from reduction in electricity costs, we have also reduced our water usage by around 20%.  Bill covers January to June so there would be some reduction compared to last summer but not quite that much.  £86 refund from water company and reduction in bill of around £20 per month. 

Going to look at a couple of subscriptions and decide if I want to cancel - if I do that's another £30 per month saving.

Flip side is I've just paid for another block of PT sessions but when I haven't been motivated to go to the gym for any other reason they have kept me going, even if that is the only time I go each week.  And it's paying off - today I saw big improvements in the weights I'm using and my recovery time.  I'm thinking of it as an investment in my health.  

savingholmes

Investment in your health is positive. Best return you'll ever get.

CCW007

Mortgage value - £315,645

WIOTW - £279,824 - reduction of £1,510 compared to last month but £848 higher than two months ago.

Target to reduce by end of year - £19,824 or £3,304 per month

Projected by end of July - £277,420

CCW007

Cancelled DD for subscription - £8
Cancelled pet insurance for cat who is now indoors only - £27 compared to last month or £32 compared to renewal
Reduction in DD for water of £23 from next month
Cancelled DD for car tax for SORNd vehicle - £25
Hopefully electric bill will reduce by around £30 per month from start of July due to reduction in rates but will keep DD the same for now.

£800 in interest due in August / September which will help.

savingholmes

That's a lovely amount of interest. Is that regular savers maturing?

CCW007

1 year fix cash ISA and an instant access where the interest is paid annually.  Looking forward to adding that to the spreadsheet