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 & 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: 26,851
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    Sorry things have been tough. Good Xmas is sorted. Best of luck with the rest.
    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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    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 & 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: 26,851
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    Happy New Year 🥳
    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 30 October 2023 at 1:27PM
    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) 
    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 🤦‍♀️
    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: 26,851
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    Good to be prepared for the price hikes
    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 1 February 2023 at 8:32PM
    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: -£74,293
    EF: £6,900
    OP 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 & 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

  • CasualMFW
    CasualMFW Posts: 65
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    edited 2 March 2023 at 11:25PM
    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: -£73,754
    EF: £7,750
    OP Fund: £500
    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: 26,851
    Name Dropper First Anniversary Photogenic First Post
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    What are you planning for your garden?
    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
  • DireEmblem
    DireEmblem Posts: 930
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    Out of curiosity, why are you overpaying your mortgage, instead of say investing in a regular saver at 6/7%?
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