Making chicken feed of my mortgage

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  • michelle09
    michelle09 Posts: 912 Forumite
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    You could definitely live on the 20k. Least it means you've got options. :)

    Haircut sounds lovely!
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    michelle09 wrote: »
    You could definitely live on the 20k. Least it means you've got options. :)

    Absolutely! I chose £25,000 so that we could have a fabulous holiday every year :cool:
    michelle09 wrote: »
    Haircut sounds lovely!

    Thank you - I :heart2: it! A real wash & go hairstyle - just what I wanted as I'll be getting ready for work at the gym :T
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • pinkypig
    pinkypig Posts: 1,814 Forumite
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    muddywhitechicken wrote: »
    Yes, it's that simple! Although if you read SSS's diary you'll see that ed's complicating it by adding state pension in to the mix :rotfl:
    Karmacat wrote: »
    Isn't it .... oh good grief, what are the words .... you decide what you want to fund from your savings - £20k a year, say - and you multiply that by 25, so £20k x 25 = 500,000 in savings will let you withdraw £20k, 4% a year, and leave room for returns to replenish the savings. No idea what your figures are, of course!


    Absolutely :j

    And somebody tell me if I've got the wrong end of the stick on the savings calculation, because if I have, my own figures are in doubt yet again :o

    Thank you both:A. I've had a go and I've gone for £25 k too as I love to travel and would like to be able to treat my kids:). It appears I'm nearly FI which is weird as I feel totally skint:A. Has focussed my sights on MF and and retired at 55 though. Thank you for the prompt, such a sensible way of looking at things :) xx
    Original mortgage £112,000 . Final payment due August 2027.
    Mortgage neutral achieved August 2020 - 7 years early!!!
  • gallygirl
    gallygirl Posts: 17,228 Forumite
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    muddywhitechicken wrote: »
    Absolutely! I chose £25,000 so that we could have a fabulous holiday every year :cool:
    Not posh bread though. You'd have to choose between them :D.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    gallygirl wrote: »
    Not posh bread though. You'd have to choose between them :D.

    I'll spend my state pension on posh bread and eating out :p x
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • Karmacat
    Karmacat Posts: 39,460 Forumite
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    "I shall wear purple with a red hat... "
    2023: the year I get to buy a car
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    Karmacat wrote: »
    "I shall wear purple with a red hat... "

    I love that poem :)
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • gallygirl
    gallygirl Posts: 17,228 Forumite
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    Karmacat wrote: »
    "I shall wear purple with a red hat... "
    I have a red hat :j:j:j:j:j.

    Mr GG hates it :rotfl:.
    A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort
    :) Mortgage Balance = £0 :)
    "Do what others won't early in life so you can do what others can't later in life"
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    No need for a hat today...! I :heart2::heart2::heart2: my new hairstyle - I washed it, I combed it and that was it - no product or styling required :T And my multi-tonal, light brown hair with a liberal sprinking of grey looks like I've had very expensive highlights - bonus :rotfl:

    HM spag bol with home grown salad for dinner (27 bags @ £1.33/bag)
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
  • muddywhitechicken
    muddywhitechicken Posts: 3,940 Forumite
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    :hello:

    Fairly quiet week here. Mr MWC took me out for lunch yesterday (he's away on Valentine's Day - that's STRIKE 2 - I think he was getting a bit worried!!!)

    I've already spent £43.03 on groceries this week and I haven't finished spending yet :eek:

    Grocery challenge = [STRIKE]£115.08[/STRIKE] £158.11/£315
    Mortgage at highest (April 2008): ~£195,000
    Mortgage-free: January 2021
    Retired: June 2022 (186 months early!)
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