Busy Mee's Last Leg

1171820222390

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  • try_harder
    try_harder Posts: 1,527
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    Wow ,wonderful achievement ,just brilliant and fully deserved.
  • shangaijimmy
    shangaijimmy Posts: 3,796
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    Tremendous achievement. Quite often the day to day or monthly progress seems minimal, but when you compare the difference in years the progress can be stark! I am stealing you idea and when i finish year 4 in another 4 months I will be posting the same!
    MFW: Was: £136,000.......Now: £61,892.24......
    Mortgage Neutral Deficit: £43,082.90... Mortgage Neutral Savings: £18,809.34

    MFiT-T6 #13 - £3,517 of £15,500 (22.69%)
    1% Mortgage Challenge 2022 - £157.59 of £650
  • Suffolk_lass
    Suffolk_lass Posts: 9,306
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    Well done Busy Mee1 - worth that focus and chipping away at it then! I presume you will have the option for Mr Mee to the a further lump sum when he retires, later this year, that will further improve the picture. I look forward to tracking your marvellous progress!
    Save £12k in 2024 - #2 target is £5000
    OS Grocery Challenge 2024 16.02% spent or £480.73/£3,000 annual
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
    My Debt Free Diary Get a grip Woman
  • themadvix
    themadvix Posts: 7,826
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    Hope you're feeling better soon!
    Mortgage free 16/06/2023! £132,500 cleared in 11 years, 3 months and 7 days

    'Now is no time to think of what you do not have. Think of what you can do with what there is.' Ernest Hemingway


  • Busy_Mee1
    Busy_Mee1 Posts: 1,015 Forumite
    edited 30 January 2019 at 12:59PM
    Thanks all I am quite stunned myself to see the difference in our financial position in just four years. If we had carried on doing what we were doing our mortgage balance would have still been over 200k and we would have had to either sell the house or keep on working.

    Suffolk Lass - the plan is that once Mr Mee retires, the combination of further mortgage reductions, more savings and his lump sum will make us mortgage neutral ( or thereabouts). I will carry on working until at least April 2020 and once I retire there will be my lump sum which will be our forever money (or as long as it lasts ). Obviously the longer I carry on the better off we will be.

    Everything will change when Mr Mee retires and I have been spreadsheet fiddling to forecast what that will look like. I think we will carry on paying the mortgage but we won't be able to save anywhere near as much. I will need to give myself some new targets to keep my interest and focus.

    Working from home today as I am exceedingly snotty and there was no point in risking the snow or passing my germs on to anyone else.

    A nice warming spicy sausage casserole for tea ( Hairy Bikers) and I might make some fridge bottom vegetable soup for lunches for the rest of the week....I am feeling in need of some comfort food.
  • teapot2
    teapot2 Posts: 3,242
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    Congrats on your four year figures, thats a great achievement and must be really satisfying to see the progress laid out like that.

    Have fun with the spreadsheets and setting new targets :cool:

    Hope your snottiness decreases soon and comfort food is certainly the order of the day.
  • Busy_Mee1
    Busy_Mee1 Posts: 1,015 Forumite
    And it is finally pay day :j January has felt endless but we made it :j

    The figures for January are as follows:

    Repayment Mortgage. £60,244.10
    IO. £169,000.00
    Total Mortgage. £229,244.10
    Monthly savings. £1500.00
    Total savings. £70,500.00
    Savings offset mortgage to £158,747.10
    Savings:Mortgage. 30.7 %

    So the good news is that I have achieved £1500 savings target, and our total savings are now back over £70,500 after paying off my car. From next month we will be breaking new ground with the savings totals.

    We have a couple of choppy financial months to come. February needs to be frugal so that I can pay the large credit card bills whilst maintaining our saving rate. March is an expensive month with House Insurance, 2 x car insurance, 2x car tax, an MOT and service. Luckily I am also due some backdated pay that I will receive at the end of Feb which will help with this. :eek:
  • try_harder
    try_harder Posts: 1,527
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    Brilliant numbers as always . Fantastic results
  • Really well done. I bought 6 months car tax for our cars, just the once, so the VED is now the other end of the year from Insurance, annual service and MOT, just a £5 cost to stagger things a bit (as mine is in December). I also have house insurance at the end of March. Nightmare! always over £1200 thanks to living in a thatched place
    Save £12k in 2024 - #2 target is £5000
    OS Grocery Challenge 2024 16.02% spent or £480.73/£3,000 annual
    I also Reverse Meal Plan on that thread and grow much of our own premium price fruit and veg, joining in on the Grow your own thread
    My Debt Free Diary Get a grip Woman
  • beanielou
    beanielou Posts: 89,816
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    Great results :)
    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.

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