Solo MF wannabe (as soon as I can be... at least by 2032)

24

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  • savingholmes
    savingholmes Posts: 26,821
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    £700 is a lovely amount. Well done. 

    We have chrome switches and I love them.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF)
    2) Mortgage neutral by June 2030 AVC £7,613/£127,466 AVC target 5.97%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • CasualMFW
    CasualMFW Posts: 65
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    £700 is a lovely amount. Well done. 

    We have chrome switches and I love them.
    Just very much not looking forward to having to rewire them all, I refuse to pay someone for a job I can do myself.
    Solo Buyer & MFW
    Start date: January 2016
    At it's highest: -£237,000
    Current Balance:  -£73,754 (March '23)
    2021 OP total: £6,000
    2022 OP total: £10,535

  • savingholmes
    savingholmes Posts: 26,821
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    I am impressed you can do them yourself 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF)
    2) Mortgage neutral by June 2030 AVC £7,613/£127,466 AVC target 5.97%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • CasualMFW
    CasualMFW Posts: 65
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    edited 9 October 2022 at 7:12PM
    I am impressed you can do them yourself 
    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.
    Solo Buyer & MFW
    Start date: January 2016
    At it's highest: -£237,000
    Current Balance:  -£73,754 (March '23)
    2021 OP total: £6,000
    2022 OP total: £10,535

  • LadyWithAPlan
    LadyWithAPlan Posts: 1,985
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    CasualMFW said:
    I am impressed you can do them yourself 
    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.
    That's a great use of an electrician ;) 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.

    There will always be a (beautiful stilettoed) foot in fabulous in LaPlan's life.
    I am choosing to be fabulously frugal to support some wonderful life changing and affirming financial goals including buying a London home I love.

    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’t really hack your way to frugal. You can and should take advantage of discounts, coupons, rewards points, and the like. 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.

    My Feb streaks to track
    Track Minimalist game  items (Nov 310)   (Dec  95)  (Jan 90)   Feb 38 to 6th Feb 
    Exercise streak  4 
    YNAB days:: Target 50 days -Age of money 42 
    Track my NSD's - Target 13 days/ 1/13

    https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest
  • savingholmes
    savingholmes Posts: 26,821
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    Well done on the electrical skills. 
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF)
    2) Mortgage neutral by June 2030 AVC £7,613/£127,466 AVC target 5.97%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • CasualMFW
    CasualMFW Posts: 65
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    edited 6 November 2022 at 6:02PM
    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 & MFW
    Start date: January 2016
    At it's highest: -£237,000
    Current Balance:  -£73,754 (March '23)
    2021 OP total: £6,000
    2022 OP total: £10,535

  • savingholmes
    savingholmes Posts: 26,821
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    You are motoring through your mortgage. Very impressive. Sounds sensible on the savings. I'm doing similar.
    Achieve FIRE/Mortgage Neutrality by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF)
    2) Mortgage neutral by June 2030 AVC £7,613/£127,466 AVC target 5.97%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
  • You are motoring through your mortgage. Very impressive. Sounds sensible on the savings. I'm doing similar.
    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 🤞🤞
    Solo Buyer & MFW
    Start date: January 2016
    At it's highest: -£237,000
    Current Balance:  -£73,754 (March '23)
    2021 OP total: £6,000
    2022 OP total: £10,535

  • savingholmes
    savingholmes Posts: 26,821
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    Forumite
    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 by mid 2030
    1) MFW Nov 21 £201,999 with 237 payments to go - now £184,341 Equity 26.26% (lower post move compensated by EF)
    2) Mortgage neutral by June 2030 AVC £7,613/£127,466 AVC target 5.97%
    3) FI Age 60 annual income target £12,500/30,000 41.66%
    Achievements: CC free since April 22. 1 year EF from Jan 24 & dedicated pot for home improvements
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