We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
10 years to clear £334K - our FIRE journey
Comments
-
Glad you are feeling more under control again money wise.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/251 -
Upright freezer inventory done and we're focussed on using up. Online food shop done for fresh stuff and cat food.
Home brew wine to be started tonight - definitely money saving
Fire lit, kettle warming up on top to use for cooking rice, every little helps. Found a good deal on the cat litter we use which will save around £15 - went to order more but the deal has ended, glad I stocked up when I did. Credit card spends definitely lower this month, being much more aware of spending.
2 -
Reactivated my PA account and started doing surveys again. OH gone to his office today (200 mile round trip) so expenses to come in from that. Had a good haul on Olio at the weekend, we're alright for potatoes for a while and even managed to get some meat (for OH) for the freezer.1
-
Great win on Olio.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.8K Net savings after CCs 13/9/25
3) Mortgage neutral by 06/30 (AVC £26.8K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 32.6/£127.5K target 25.6% 13/9/25
(If took bigger lump sum = 54.5K or 42.7%)
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 £4.8K updated 13/9/251 -
Yesterday was a NSD - woo hoo! £9k moved to ISA so that is full now. Boring time of the month where nothing much is happening. OH checked and his share save scheme which matures at the end of the year should bring in around £2.5k in January which will be good timing for getting the work done in the kitchen.
Olio is not good for my weight - have been eating too much bread and too many pastries. Weighed myself - ugh! Need to get back to healthier eating, got everything I need in, just need to motivate myself.1 -
OH heard yesterday and he's not being made redundant - good news for us but feel so sorry for those who are at risk. Hopefully they can be redeployed though.
£9.42 cashed out from PA - although it makes little sense, I'm going to OP this and any future earnings to the mortgage. Psychologically I need to feel like I'm making inroads into the mortgage and seeing money offset isn't doing it. It's taken a week to reach that amount so will be minimal amounts; although it would be more prudent to stick it into savings at 5.2% than pay off mortgage at 1.74%, I'll feel better doing it.
Hoping by the end of the month we'll get news about our pay award which was due in April 2023 - it should be back-dated and would mean around an extra £900 if paid in November. Added to my incremental increase in April, I've worked out it should mean an extra £220 a month in my pay packet from April. These things motivate me when work is getting me down and driving me mad!2 -
I really shouldn't look at my SIPP and ISA at the moment
Not doing well. I know it will recover but still... 1 -
When it's just small amounts like that, the interest really doesn't make much difference one way or the other, so do what makes you feel good 👍!CCW007 said:£9.42 cashed out from PA - although it makes little sense, I'm going to OP this and any future earnings to the mortgage. Psychologically I need to feel like I'm making inroads into the mortgage and seeing money offset isn't doing it. It's taken a week to reach that amount so will be minimal amounts; although it would be more prudent to stick it into savings at 5.2% than pay off mortgage at 1.74%, I'll feel better doing it.Mortgage start: £65,495 (March 2016)
Cleared 🧚♀️🧚♀️🧚♀️!!! In 5 years, 1 month and 29 days
Total amount repaid: £72,307.03. £1.10 repaid for every £1.00 borrowed
Finally earning interest instead of paying it!!!2 -
Thanks South_coast - I know it logically but it's good to hear from someone else!2
-
Hmm, £10 a week over a year would be slightly more than one months interest payments on the mortgage - that sounds like a good target!
From 16th October 2023: £9.42 / £5202
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.7K Work, Benefits & Business
- 600.1K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards