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Solo MF wannabe (as soon as I can be... at least by 2032)
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December update:
Not much to report this month on the savings/OP front. Just the regular round ups, interest and tilly-tidying.
Feel like I've been hemorrhaging money - Car and home insurance last month, service this month alongside all my Christmas shopping completed on Black Friday.
Hopefully I'll be able to save this month alongside the inevitable December social plans 🤞
As it stands:
Mortgage: -£75,209
EF: £4,750
OP: £174
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 -
Sorry things have been tough. Good Xmas is sorted. Best of luck with the rest.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 -
January update:
Happy New Year, MFW's!
Quite a spend heavy month in December, as to be expected. Had numerous meals/drinks out alongside the usual present buying.
Plus the shower packed in on the 23rd and a radiator started leaking - £160 lighter once they were fixed and replaced.
We also upgraded some furniture for the bedroom which arrived a couple of days ago and finally got round to purchasing some side tables for the living room - Just waiting on them to arrive now.
That said my mortgage continues to go down and the EF and OP up so all is good. The EF is up £750 since last month and I've got a my payrise in December's pay backdated since September so that can be transfered across at the end of the month and a present for my partner was the wrong size - ended up returning it and repurchasing for £50 less, just waiting for the refund to come through now👍🏻
How have everyone's energy bills been for December? I was pleasantly surprised when ours came in at £101 for gas and £117 for electric.
As it stands:
Mortgage: -£74,732
EF: £5,500
OP: £238
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 -
Happy New Year 🥳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 -
My supplier tried to reduce my DD by the £66, but I put it back up. Just leaving it sat in my energy account for the time being. Will no doubt need it once prices rise again in a couple of months 🤦♀️[Deleted User] said:Well done @CasualMFW! My energy bill was also lower than expected but I think that's because of the £66 (the energy bill support payments)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 -
Good to be prepared for the price hikesAchieve 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 -
February update:
Finally feels like I'm back on track with the EF savings goal and the OP fund now that Christmas is out of the way, along with the annual home and car insurance.
That said I still have a maintainance charge and my football season ticket to pay out in the not too distant future. Plus my electricity fixed rate ends thus month, so we'll see how it goes.
How is everyone else getting on?
As it stands:Mortage: -£74,293EF: £6,900OP Fund: £350
In total that's the EF up by £1,450 and EF by £112 in the last month. Got to keep on keeping on.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 -
March update:
Not a bad month spending wise. OP fund and EF is totting up nicely. I've also started a standing order to cover my yearly bills - MOT, house and car insurance and management fees for the communal areas on the estate.
I've decided to push forward the garden makeover to this year - Had some builders around this week to quote putting a door in to the garage before landscaping. That'll soon blow the EF again...
As it stands:Mortage: -£73,754EF: £7,750OP Fund: £500Solo Buyer & MFWStart date: January 2016At it's highest: -£237,000Current Balance: -£73,754 (March '23)2021 OP total: £6,0002022 OP total: £10,5351 -
What are you planning for your garden?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 -
Out of curiosity, why are you overpaying your mortgage, instead of say investing in a regular saver at 6/7%?0
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