We’re attempting to pay off our mortgage by December 2015 and reach financial freedom by December 2020. Every month I track our progress.
- 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 and it now stands at £84,950. YAY! We didn’t make our £80k goal due to the house repairs, but we’re below £85k. PASS.
- Contribute/save at least
£3,000£2,500 to our future financial freedom. PASS. We paid £2,613 into hubby’s pension and over £400 interest was added to our emergency fund, so I’m calling this a win.
- Save/Spend at least
£1,000£4,500 for house repairs. PASS. Saved and all paid for.
- Save/Spend £900 for gifts. PASS. Saved and spent!
- Save £1,300 for a family holiday. PASS. Goal completed and trip taken to Portugal.
Save £4,000 for a trip to Washington/NY in 2013. FAIL.Goal put on hold as we needed to pay approx £4k for house repairs.
- Save £700 for a mini break to Italy. PASS. Goal completed and trip taken.
I’m so pleased with our progress this year. I’ve lost my way a couple of times, but in general we’ve stuck to the plan and it’s paid off…….now it’s time to move on to 2013. I love the promise of a New Year!