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Follow the Yellow Brick Road 2023
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Awesome 🤩 👏
KKAs at 15.08.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £232,244
- OPs to mortgage = £12,048 Interest saved £5,675 to date
Fixed rate 3.85% ends October 2030
Read 43 books of target 52 in 2025, as @ 17th August
Produce tracker: £299 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.2 -
Woohoo - very nice gift!! Great to use it as an OP. If you enter the figure into the OP calculator on here it will also tell you how much interest it saved you. I find that motivating too.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 29/7/252 -
Thanks Kajikita and Savingholmes. I've just checked the mortgage account and redemption date now March 1938, so another month cleared - its a lovely feeling. Daily interest was £9.57 just before Christmas, so I'll check again tomorrow and see the difference - not so long ago it was £12 a day.
My second item up for sale on fleabay has 21 watchers but no bids yet. Fingers crossed it will sell and free up some space."Think of many things, do one"
Mortgage 30 Aug'25 est. £209,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga4 -
Great to have your space plans clearer in your head. Sounds exciting.DFW (08/08) £64,346.53 Gone (02/19)
MFW (08/08) £118k Gone (09/23)2 -
Thanks debtfreeoneday, I just need to have patience but also keep focussed on it too. Good news that there is now a bid on my piece of furniture so that will almost definitely be gone soon. Freeing up space, but I can also get on and organise getting rid of some other bits too.
Edit, checked mortgage interest today and it has come down by 5p to £9.52/day - multiplied x 365 it all adds up to a good saving."Think of many things, do one"
Mortgage 30 Aug'25 est. £209,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga2 -
You should multiply it by 365 and then by the remaining number of years you would otherwise have paid it...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 29/7/252 -
Oooooh ….. (Notes carefully for future calculations!)savingholmes said:You should multiply it by 365 and then by the remaining number of years you would otherwise have paid it...
KKAs at 15.08.25:
- When bought house £315,995 mortgage debt and end date at start = October 2039 - now £232,244
- OPs to mortgage = £12,048 Interest saved £5,675 to date
Fixed rate 3.85% ends October 2030
Read 43 books of target 52 in 2025, as @ 17th August
Produce tracker: £299 of £300 in 2025
Watch your thoughts, they become your words.
Watch your words, they become your actions.Watch your actions, they become your reality.3 -
About £250KajiKita said:
Oooooh ….. (Notes carefully for future calculations!)savingholmes said:You should multiply it by 365 and then by the remaining number of years you would otherwise have paid it...
KK
"Think of many things, do one"
Mortgage 30 Aug'25 est. £209,500 £309,749 2020 (current ends 2038)
Seven Goals; 12.5lbs lost in 4 months (5.5lbs to go); walk/run/exercising/weights/yoga1 -
Wow that gift of £750 has saved you £250 in interest over the 14 years left of the mortgage ? So great !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 -
That's why it's worth doing the full calc - not just the in year gain. This is what Blackcats refers to as 'accumulated marginal gains'. Every penny you reduce your outgoings is a penny you won't need in retirement / part time work etc... and therefore brings that date forward to if you want it to.
Are you going to put your NI savings into pension? Could give you a big long term boost before you get used to having the extra £. You'd then get tax back on top of any gains... (or risk of loss).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 29/7/253
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