A Dream Worth Dreaming?

fjireland

debtfreewannabe321 said:

Hi there, I had a read through your new diary, I think you're doing an amazing job paying down the mortgage so quickly on your own. I also think it's a good plan to get a good work - life balance as it can't be sustainable to work 7 days a week without burning out at some point. 

Thank you ☺️ 

It just isn’t sustainable at all…. And it was a bit like a treadmill last few years, only when I stepped off a bit before Christmas this year did it hit me…. It’s not healthy at all… life can’t be all work, work and goals, goals 

You have all helped me see the need for rebalancing … otherwise, I’ll burn out eventually and what will that achieve in the end …

I’ve committed to cutting down to 1/2 day Saturday or subday but 1 1/2 days of weekend I’m taking back for me now 😊 

fjireland

badmemory said:

Haven't you done well!  Especially getting rid of the help to buy.  I never did like them as it always seemed to me that if you could afford the rent then you could afford the extra mortgage.  I agree that working 7 days a week is unsustainable.  Depending on your mortgage rate you may do better putting the money into savings, which will serve a combined purpose as an EF or a lump sum payment off your mortgage.

I agree help to buy is a blessing and a curse… I wanted rid of that above all else … even though it was interest free money! And I paid back less luckily! 

I never thought how I’d tackle it until just before the pandemic and then I became obsessed with remortgaging and saving to pay it off 

Truly, I couldn’t have bought initially without it…. But if you don’t have a plan to get rid of it before the 5 years are up, it’s just like being sucked into renting again …. 

I’ve been lucky with the salary bump and extra work but I know I’m going to be taking a pay cut this year now possibly if I move job and I’ve accepted that a little .., I couldn’t keep going at the rate I was 


Saving for a decent EF is taking priority next month after I sort the January bills 😬

savingholmes

I am glad you are going to be kinder to yourself. 

You may find if you reduce your hours you will be happier in your work again and if not building an EF gives you choices. 

fjireland

Glad it's the end of January.... I'm sure I'm not the only one!

Been a tight month - 50% increase in service charge has been an unexpected shocker - joys of leasehold flats

But on track - just about ... mortgage overpayment done (1600), ground rent paid and tiny contribution to savings/emergency fund...

But feeling positive - it hasn't been a bad start to the year

South_coast

Ouch on the service charge increase 😬 I hope they had some good justification for that. My man co seem to have forgotten to send me this year's bill (was expecting it before Christmas), so it's currently earning 5.2% in my savings account. Although even when they do send it, I'll be paying it on a 0% credit card, so it'll still be earning 5.2% in my savings account....🤣

fjireland

Just checking in - I haven’t been on in a while … 

still plugging away with mortgage ops and on track based on my new plan I put in place for myself in January… where I reduced the ops and tried to put less pressure on myself 

Been a busy but funny time - I hit that wall in December time when I just felt so burnt out from plugging away at the mortgage. Work is better now and I won’t move for the foreseeable …

I still just feel a bit meh - I know I’ve achieved a lot and I’m keeping myself on track … I just feel no real joy/pride in what I’m trying to achieve anymore. Anyone share this ? Is it a kind of mid - journey slump ? The past four years plugging at this, I never even thought - I just kept going … I seem to just have lost some kind of zest for seeing the progress chipping along ?

Has anyone felt similar ? How do you kind of come out of this ? 

debtfreewannabe321

fjireland said:

Just checking in - I haven’t been on in a while … 

still plugging away with mortgage ops and on track based on my new plan I put in place for myself in January… where I reduced the ops and tried to put less pressure on myself 

Been a busy but funny time - I hit that wall in December time when I just felt so burnt out from plugging away at the mortgage. Work is better now and I won’t move for the foreseeable …

I still just feel a bit meh - I know I’ve achieved a lot and I’m keeping myself on track … I just feel no real joy/pride in what I’m trying to achieve anymore. Anyone share this ? Is it a kind of mid - journey slump ? The past four years plugging at this, I never even thought - I just kept going … I seem to just have lost some kind of zest for seeing the progress chipping along ?

Has anyone felt similar ? How do you kind of come out of this ? 

I only wish I were in the position to be in that mid-journey slump, I am still at the beginning of trying to figure out the budgets and finding extra for OPs one day...! ...Perhaps something for you personally would help put you back on track? An MSE day out, a purchase that doesn't break the bank, something on your bucket list that won't set you back too far but will also allow you to remember why you're doing this? I had these sort of slumps when paying off big chunks of debt. It was deflating sometimes every penny going towards something you can't actually see....so do something that will give you a good memory, something tangible that will give you a renewed sense of why you are doing it.

fjireland

Thank you - I think that’s a good point. Treating myself might help, even if it’s not big - trouble is with everything so much tighter these days with cost of living it feels like a choice - stick to the plan or treat yourself. It’s harder to stay on track … I dread going off track so I focus all my energies on hitting exact targets … if it’s a bit less /under target, maybe I should accept that and not see it as the end of the world 

thanks for advice  

savingholmes

You sound very disciplined and 'all or nothing'. Allowing a fun pot makes life's journey more enjoyable. I hope you are allowing yourself more rest days too.

fjireland

Thank you - I feel much more relaxed /restful these days since cutting back on weekend work. I make sure one day is completely clear now and that’s helped a lot. 

I know what you mean - I worry I’ve become a bit obsessive actually … I am all or nothing in a way about this. I think I have an addictive personality and it might sound daft but it’s like I’m addicted to this goal … 

I try to put some aside for treats etc on payday but it dwindles quickly as the month goes on and i seem to eat into the treat money… maybe i need to revise my goal down again.