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GAP and LMG, can we become mortgage free?

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  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    beanielou said:
    That's great  :)
    That's a nice little extra lump isn't it, and all sounding very positive on the income front going forwards as well! 
    Lovely to have extra money coming in and glad to see you are so focused ! 


    Fab news on the bonus money! 
    Thank you, thank you, thank you and thank you.

    I finally feel like I am getting somewhere with earnings. I'm now officially earning the most I've ever earned in my working life.  I'd love to know what I would be earning if I hadn't made so many mistakes along the way. No looking back allowed though, unless it's to remind me of the lessons!
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Payday was yesterday. Money shuffled. Pots looking healthy.

    I ended the month with £7 odds in my purse. Amazing what I can not spend when I'm trying. I think I'll just take that out now and put it away for a rainy day.

    Payday PAD = £100
    1st Feb PAD = £6


    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
  • beanielou
    beanielou Posts: 95,664 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    Hindsight is a great thing but exactly that ~~ hindsight. 
    We do the best we can at the time. 
    Great start to the month 😊
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    beanielou said:
    Hindsight is a great thing but exactly that ~~ hindsight. 
    We do the best we can at the time. 
    Great start to the month 😊
    Indeed.  It's good if we learn from our mistakes.  Sometimes I have to make them more than once, you know, just to be sure they are definitely mistakes 🙄
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    This being Friday, the fifth Friday in 2024, I had a spin of the random number generator. The first number that came out was 43 but I've had that before (doubling up so soon?) so I spun again and got 29.  Moved £14.50 over to the Random Pick Fridays account. I'm actually really enjoying doing this "challenge". I can't wait to see what number comes out each week.

    I opened a W3alth1fy account on 30th January last year using the MSE link for the £50 bonus offer.  I thought it would credit my account just after 30th this year. It didn't. I have chased it up.  It should be paid within 30 days. They're going to make me wait the full 30 days, aren't they?

    Just a wee £1 PAD to the buy out fund.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
  • beanielou
    beanielou Posts: 95,664 Ambassador
    Part of the Furniture 10,000 Posts Academoney Grad Mortgage-free Glee!
    What meanies.
    What makes me cross is if you had not chased it up you probably would not have got it at all.
    Bah.

    Have a good weekend  :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    beanielou said:
    What meanies.
    What makes me cross is if you had not chased it up you probably would not have got it at all.
    Bah.

    Have a good weekend  :)
    I have to be fair and say I just checked back the terms and conditions (by searching here, I can't find them in my W account or correspondence) and it does actually say that payment is within 30 days after 12 months of investment so I was just too keen.

    Have a good weekend too 🙂
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
  • savingholmes
    savingholmes Posts: 28,974 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Great use of your back pay and nice you will keep more of your earnings in future months too. Best of luck for the increment.
    Achieve FIRE/Mortgage Neutrality in 2030
    1) MFW Nov 21 £202K now £174.8K Equity 32.77%
    2) £1.6K Net savings after CCs 14/8/25
    3) Mortgage neutral by 06/30 (AVC £25.3K + Lump Sums DB £4.6K + (25% of SIPP 1.2K) = 31.1/£127.5K target 24.4% 15/8/25
    4) FI Age 60 income target £16.5/30K 55.1%
    5) SIPP £4.8K updated 29/7/25
  • EssexHebridean
    EssexHebridean Posts: 24,424 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I don't blame you for chasing that up - it's like my FD reg saver which I was way too impatient to get the maturity on - I'll know how that one works for the future though! 
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00 Balance as at 31/12/23 = £112,000.00
    Balance as at 31/08/24 = £105,400.00 Balance as at 31/12/24 = £102,500.00
    £100k barrier broken 1/4/25
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • girlatplay
    girlatplay Posts: 3,884 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Great use of your back pay and nice you will keep more of your earnings in future months too. Best of luck for the increment.
    Thank you.

    I don't blame you for chasing that up - it's like my FD reg saver which I was way too impatient to get the maturity on - I'll know how that one works for the future though! 
    I did a bit of searching here before I chased it as people seemed to be getting it right away, or even early. Probably should have looked for the T&Cs first.
    Mortgage at 12/07/2022 = £175,000
    Mortgage today = £161,690.76
    300 271 payments to go.
    House buyout fund £21,000/£40,000
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