Hopefully debt free before Mortgage renewal in June 2026

MillQueen

That’s interesting on the daily investing. Do you automate it? I’ve started investing this year, but I only have just over £500 so far, in a stocks and shares ISA. I started with £50 and then I’ve been putting in £150 on the 1st of the month. I plan to do that all year, then up it to £300 a month next year, then £600 a month the year after (I imagine by then that “future me” will have worked out a plan to be able to afford that). I read something that said the best performing investment accounts are those of dead people, as they leave them untouched even when the market’s down, so I’m going to keep adding to it and leave it alone - the arbitrary goal is 100k by the time I’m 60….. It is interesting to see what happens, I agree. I found the idea of “invest like a dead person” to be strangely motivational.

Spendless

I suspect nothing more has been said because your manager/s know you are correct. There isnt an opening for you unless someone is leaving and currently no one is!

Tezzadp

https://forums.moneysavingexpert.com/discussion/comment/81975193#Comment_81975193

No i don't automate my deposits as Tradng212 who i use charges a 0.7% fee for deposits via reoccurring card payments once you have deposited £2000. But instant bank transfers are free, so i just do it that way. I also like to do it myself daily as it keeps me in a routine which becomes harder to break, so it helps keep me disciplined with my investing.

I did intend to do £20 daily but funds are tighter with my budget with my mortgage renewal, my hours at work being cut and the general cost of living increasing also. And living alone on minimum wage im trying to make ends meet as best i can and starting to think ahead to try and build myself a small pot (big for me, small for most others) to retire/enjoy in the future. So i am currently doing £10 a day. Ideally i would like to increase this if i can in the future like you and invest more. The more you invest from the start the better.

If you could manage to do £600 a month you would be a really good amount which could compound into a substantial figure if you could keep that going for 15-20+ years. I am doing exactly the same, i will invest every day no matter if the market is down or not, that is when you really benefit by keeping your discipline.

I really wish i started investing about 20 years ago, it would have been a really nice size after 20 years of interest on the stock market. But i cant roll back the clock now. ive got 24 more years of my mortgage to pay off so im hoping to try and continue my investments until that is paid off at least. But i also would like to bring the mortgage amount down also so it is paid off sooner, so i could maybe work part time before retiring with my little pot of investment money.

I like how you track and manage your money on your signature. It is very important to keep track of your money and you seem to have cracked it. Hopefully we can both grow our net wealth over time. Best of luck x

Tezzadp

https://forums.moneysavingexpert.com/discussion/comment/81975300#Comment_81975300

Correct. Still nothing has changed all week, because literally nothing has changed, the employee is still here so nothing will change as long as that is the case.

Tezzadp

Regarding the external job i applied for and didnt get. The closing date for applicants was yesterday. Today it has been readvertised which is annoying. Oh well, there will be other opportunities somewhere else in the future, it wasn't anything special anyway, but still annoying.

Tezzadp

……………………….

daisy_1571

Submit your application again? You never know

Spendless

https://forums.moneysavingexpert.com/discussion/comment/81976445#Comment_81976445

That's so frustrating and was also what I was experiencing last year, though with not as quick a turnaround with readvertising. Never got to the bottom of why. I only got something when I answered an old fashioned ad in a window and spoke directly to a human.

Youve nothing to lose by submitting again though.

MillQueen

I agree with the others that there’s nothing to lose by submitting the application again. You could tweak it a bit to the criteria.

You’re doing remarkably well to pay a mortgage whilst saving £10 a day and staying diligent enough to make investments with the transfers. I too wish I started investing 20 years ago, though I didn’t know much about investing or understand finance then. It’s only this year I started to understand I have to take control of it. 24 years of investing while you pay off the mortgage will give you a nice retirement. I have a similar length on my mortgage and will be nearly 70 when it’s paid off (I’m 42 now). I have my fingers crossed things work out for you job-wise. Feels like they will because you’re evidently a smart and dedicated person, which your current place can see even if they’re bad/slow at rewarding it, and other employers will see it too 🤞.

I wonder if we’ll all still be here posting, in a few decades, about our 100k investment portfolios and our paid off mortgages 😀.

Tezzadp

https://forums.moneysavingexpert.com/discussion/comment/81976606#Comment_81976606

Firstly, thanks to everyone regarding the job being readvertised. I may re-apply and see what happens.

You are in very much a similar part of life to me, i'm 43. i also wasn't aware of the power of investing 20 years ago and have been very stupid with money in the past, more than most, but i am now fully aware and focused on my future. i am working towards an easier and better life in years to come. My mortgage s up to 67 but hopefully i can pay it off a little earlier with overpayments in years to come. Thank you, i hope we can both get to our goals and live a much better life in years to come. I will find a new job at some point when one comes along that suits me.

I do hope we are still all here in years to come to see how far we have all got on our investment/debt/saving journeys. Best of luck with your investing, keep us updated with how its going.