10. 07. 2012

To get our much needed house repairs completed and paid for we’ve made some slight changes to our 2012 goals.

  1. Reduce the mortgage to less than £83,000 £80,000 by December 31st 2012. We started this year with a mortgage balance of £106,322.34. After making a few over payments the balance is now £91,543.85. Yay!
  2. Contribute/save at least £3,000 £2,500 to our future financial freedom. Total added to goal in 2012 £1,407 (pension contributions. 
  3. Save at least £1,000 for house repairs. Ongoing.
  4. Save £900 for gifts. On track with a monthly saving of £75 (which we’ve now bumped up to £90)
  5. Save £1,300 for a family holiday. Goal completed and trip booked.
  6. Save £4,000 for a trip to Washington/NY in 2013. Goal on hold as we need to pay approx £4k for house repairs.
  7. Save £700 for a mini break to Italy. Goal completed and trip taken.

Ongoing Financial Freedom Goal: Net Worth £300,000 by December 2020

On our current figures to achieve our Net Worth goal we need to:

I’m trying not to think about the next 8 years and just concentrate on this year and the mortgage. £11,543.85 to go before we hit our year end target of £80k.

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In 2014 my husband & I downsized our home to speed up our quest for Financial Freedom. We swapped our large three bed house, for a small two bed apartment to clear our mortgage and give us enough budget freedom to travel and still save for the future. Our dream, after achieving Financial Freedom, is to spend part of every year living abroad.

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4 Responses to “2012 Financial Goals Report #7”

  1. Niki says:

    Wow Laura, your mortgage pay-off alone is amazing but with all the other goals you are knocking out of the park I am in complete awe of your awesomeness.

  2. :) Thank you…but I feel like hubby does all the hard work lol:)

  3. Fiona says:

    Wow…I just converted those figures into Australian dollars…that is UNBELIEVABLE progress in just over 6 months! I’m blown away!