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Solo MF wannabe (as soon as I can be... at least by 2032)
Comments
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£700 is a lovely amount. Well done.
We have chrome switches and I love them.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 29/7/250 -
Just very much not looking forward to having to rewire them all, I refuse to pay someone for a job I can do myself.savingholmes said:£700 is a lovely amount. Well done.
We have chrome switches and I love them.Solo Buyer & MFWStart date: January 2016At it's highest: -£237,000Current Balance: -£73,754 (March '23)2021 OP total: £6,0002022 OP total: £10,5351 -
I am impressed you can do them yourselfAchieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 29/7/250 -
Thank you, I'm certainly no @Sistergold with her impressive DIY classes but when I got the kitchen replaced I got chatting with the electrician and asked him to show me how to replace a socket and lightswitch, he then supervised me doing a couple and I completed the rest of downstairs.savingholmes said:I am impressed you can do them yourselfSolo Buyer & MFWStart date: January 2016At it's highest: -£237,000Current Balance: -£73,754 (March '23)2021 OP total: £6,0002022 OP total: £10,5352 -
That's a great use of an electricianCasualMFW said:
Thank you, I'm certainly no @Sistergold with her impressive DIY classes but when I got the kitchen replaced I got chatting with the electrician and asked him to show me how to replace a socket and lightswitch, he then supervised me doing a couple and I completed the rest of downstairs.savingholmes said:I am impressed you can do them yourself
We are doing a week on electric stuff in my DIY class soon- light switches etc but I have asked if we can learn to put light fittings in the ceiling as well as that be super useful.
DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest2 -
Well done on the electrical skills.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 29/7/250 -
November update:
Finally seeing some progress with the rebuilding of my emergency fund and despite paying for home insurance and my car insurance this month I managed to add some more to my savings. Unfortunately I've still got my service to pay for on the 14th and plenty of Christmas presents still to buy...
My interest rate for my easy access savings account (2.1% and 5%) is now higher than my mortgage (1.29% fixed until 2027) so once the emergency fund is back up to pre new car/paying off the second part of my mortgage levels, I'll now be adding to a seperate savings account simply for my overpayments, which I'll then transfer at renewal time, as well as tilly tidying my accounts and adding interest/surveys/sales to this account as I did before.
As it stands:
Mortgage: -£75,694
EF: £4,750
OP: £106
Solo Buyer & MFWStart date: January 2016At it's highest: -£237,000Current Balance: -£73,754 (March '23)2021 OP total: £6,0002022 OP total: £10,5352 -
You are motoring through your mortgage. Very impressive. Sounds sensible on the savings. I'm doing similar.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 29/7/251 -
Still concerned about interest rates when my fix comes to an end, hopefully we'll be heading out the other side by the beginning of 2027 🤞🤞savingholmes said:You are motoring through your mortgage. Very impressive. Sounds sensible on the savings. I'm doing similar.Solo Buyer & MFWStart date: January 2016At it's highest: -£237,000Current Balance: -£73,754 (March '23)2021 OP total: £6,0002022 OP total: £10,5351 -
My fix ends 31/12/26 so yeah - desperately hoping things have improved majorly by then - and trying to save all I can in between in case they haven't. That way the interest rates are working in my favour.Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £172.5K Equity 36.11%
2) £1.6K Net savings after CCs 14/8/25
3) Mortgage neutral by 06/30 (AVC £25.6K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.4/£127.5K target 24.6% 1/9/25
(If took bigger lump sum = 53.3K or 41.8%)
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 29/7/250
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