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Final push .£50,000 in two years .Can i do it ?

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1235710

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  • savingholmes
    savingholmes Posts: 27,832 Forumite
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    Woohoo. Doing so well 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 234 payments to go - now £181,773 Equity 27.3%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £7.7K on 0% spends card but offset by £34.3K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.8K/£127.5K AVC target 8.47% value at 23/6/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.2K at 23/6/24
  • try_harder
    try_harder Posts: 1,527 Forumite
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    Thank you savingholmes

    Day one of week 11 .I am going to work really hard with the food budget this week , it has become too much of a hit or miss thing so i need to track it very carefully this week .

    I am hoping this coming weekend will be a low fee weekend on Ebax ,its been three weeks now ,i think its bank holiday weekend so im guessing it will be so i need to get some drafts on this week so they are ready to go

    Continue clearing and decluttering ,i have sold a couple of large items on Ebax so that will clear some space but i have bought some larger bits too so the space will be refilled just as quickly !!
  • savingholmes
    savingholmes Posts: 27,832 Forumite
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    What you spend / don't spend can have as much impact as your income in terms of making your money stretch. Good luck with it. Perhaps check out the grocery challenge / old style board.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 234 payments to go - now £181,773 Equity 27.3%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £7.7K on 0% spends card but offset by £34.3K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.8K/£127.5K AVC target 8.47% value at 23/6/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.2K at 23/6/24
  • try_harder
    try_harder Posts: 1,527 Forumite
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    Thank you savingholmes ..I have had a much better week this week as i stuck to my meal plans and topped up with Olix..I am in the grocery challenge but you have reminded me to sign up again for September ..You are absolutely right about the spending ,i now have everything down to a minimum fingers crossed and that frees up more money to save .


  • try_harder
    try_harder Posts: 1,527 Forumite
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    Well week 11 has come and gone
    £500 has gone in to PBs ..Total £5500
    £100 from selling saving etc has gone in to my ISA this week .I thought i would start dividing the left over money starting this week from this challenge and put some in PBs and some in our ISAs

    On to week 12 .....
  • savingholmes
    savingholmes Posts: 27,832 Forumite
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    You are still motoring along. Grocery is my biggest challenge. I'm doing a spending diary at the moment and it's uncomfortable reading...
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 234 payments to go - now £181,773 Equity 27.3%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £7.7K on 0% spends card but offset by £34.3K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.8K/£127.5K AVC target 8.47% value at 23/6/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.2K at 23/6/24
  • try_harder
    try_harder Posts: 1,527 Forumite
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    savingholmes  i know the feeling ..We are now going out for the day and i dont put money aside for going out so its more petrol and more spending money that has to come from somewhere ..I guess i should think about how much i spend on these days out and maybe add it to my weekly pots 
  • Aimingforthegoodlife
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    Keep up the great work!
  • savingholmes
    savingholmes Posts: 27,832 Forumite
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    I think it's definitely good to have a reality check on the budget and adjust as you go - but also nip lifestyle creep in the bud when needed. Still working on that one!!
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 234 payments to go - now £181,773 Equity 27.3%
    2) Spend on handyman & external building works & new patio door £13.45K
    3) CC £7.7K on 0% spends card but offset by £34.3K savings (part EF, part future home improvement)
    4) Mortgage neutral by June 2030 AVC £10.8K/£127.5K AVC target 8.47% value at 23/6/24
    5) FI Age 60 annual income target £13.7/30K 45.7%
    6) SIPP £4.2K at 23/6/24
  • rileyg26
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    You are doing really well, @try_harder! You are truly inspiring! 
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