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Five Year Fix, Five Year Plan
Comments
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Wow - too much excitement for me, I'd have picked up and hung out at the bar until the offending table had been removed!4 YEARS 10 MONTHS DEBT FREE!!! (24 OCT 2016)(With heartfelt thanks to those who have gone before us & their indubitable generosity.)...and now I have a mortgage! (23 AUG 2021)Original Date - Sept 2041 New projection - Dec 2039 (reduced by 21 months)2
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Maybe best that you missed that!I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.4 -
FAR too much excitement for me - a much quieter day today, thankfully! started a cross stitch gift for a friend who is moving house (tomorrow, but it can be late!)Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
Current mortgage amount: £226,957.97
Start student loan 2012: £29,750; current student loan: CLEARED July 20256 -
So the HMRC form I spend a morning filling in with my pensions and professional subscriptions and travel has turned "you owe us £300" to "we owe you £2400" so WELL worth doing.
New car fund now up to £9000 (I think I'm aiming to spend £15-20,000 on a 5 door 2-3 year old hatchback that's maybe petrol hybrid, because that sort of worked for me last time around and my current car has lasted me 12 years and counting)Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
Current mortgage amount: £226,957.97
Start student loan 2012: £29,750; current student loan: CLEARED July 20258 -
Oh that's fabulous news to get at this time of year - well done for getting the form done
The new car fund is coming on well
KKAs at 15.12.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £227,385
- OPs to mortgage = £12,822 Estd. interest saved = £6,166 to date
Fixed rate 3.85% ends October 2030
Read 78 books of target 52 in 2025, as @ 21st December
Produce tracker: £453 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.3 -
Great result.I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb. ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
One debt remaining. Home improvement loan.3 -
£2,400 is massive! Well done 👏🏻3
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@Merlin's_Beard - HMRC has a form that nets you 2400? I need to get my hands on that form! 😅 If I'm not being too nosey, can I ask which form you had to fill in???4 YEARS 10 MONTHS DEBT FREE!!! (24 OCT 2016)(With heartfelt thanks to those who have gone before us & their indubitable generosity.)...and now I have a mortgage! (23 AUG 2021)Original Date - Sept 2041 New projection - Dec 2039 (reduced by 21 months)2
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Well done on the tax rebate.
Enjoy your new piano.
A friend of mine regularly goes on llama experience days - she loves them.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £171.3K Equity 36.55%
2) £2.6K Net savings after CCs 10/10/25
3) Mortgage neutral by 06/30 (AVC £30.9K + Lump Sums DB £4.6K + (25% of SIPP 1.25K) = 35.5/£127.5K target 27.8% 14/11/25
(If took bigger lump sum = 62K or 48.6%)
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 £5.1K updated 14/11/250 -
These were all income tax relief for 2024/25 - so I declared my higher rate pension contributions on one form, which gives you 20% back, and I filled out the claim tax relief for your job expenses (professional fees, washing uniform at home, mileage, plane tickets to Malta because that was for a conference)rtandon27 said:@Merlin's_Beard - HMRC has a form that nets you 2400? I need to get my hands on that form! 😅 If I'm not being too nosey, can I ask which form you had to fill in???
If your employer would pay for all those things normally or you can reclaim them or you get allowances for work travel etc it's no use to you (but also you're in a much better position anyway because you keep the other 80%!)Start mortgage date: August 2022; Start mortgage amount: £240,999; Original mortgage free date: August 2056
Current mortgage amount: £226,957.97
Start student loan 2012: £29,750; current student loan: CLEARED July 20252
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