April has been one the strangest months of my life. As with everybody, I have been confined to my flat. I’ve found it to be both exhausting and stressful. To top it off, I’ve been made redundant despite working harder … Continue reading April 2020 savings update
Everyone likes cars, or at least I do. They provide freedom, convenience, and for some, status. The FIRE (Financial Independence, Retire Early) community advocates driving a car that is cheap to run and to buy in cash. How realistic is … Continue reading Car Finance: Why it is stopping you from reaching your financial goals.
I haven’t done a net worth update post for a while, so now seems like a good time to get back into the habit. I have, however, been tracking my net worth in the background and can say that it has been quite motivating to see my progress. From when I started tracking this a year ago, I have seen a 20% increase in my net worth, which I think is fantastic. It is almost all from paying off debt and increasing savings. I have three pensions which have increased by about £9k in the past year. I am looking … Continue reading October update
Last weekend shortly after making my blog post, buoyed by the confidence that I am approaching debt freedom, I spent several hours calculating whether it would be better for me to save money or to pay off my mortgage. Firstly, there are several viewpoints on whether mortgage debt counts as ‘debt’. Of course it is different to a credit card or a car loan as you have purchased an asset that will appreciate in value and give you ‘equity’, and you pay off a chunk each month which also contributes. However, as that equity is tied up in the home, … Continue reading Calculations and calibrations