Welcome to my blog – as part of my new philosophy of “Good Financial Choices” I want to improve my finances, by making good solid choices that will take me to my ultimate goals.
I’ve got the long term goal to grow my net work to £1,000,000 , and I’m going to set my first mini-goal now. This mini-goal will help me toward the main goal, and is a SMART Goal. Now I’m committing to it publicly.
- Put the full £15k in my ISA this tax year (by April 2014)
In order to meet this goal, I’ve got some simple plans to enable me to make the right choices.
- Now I’m under the 60% LTV on my mortgage, no more overpaying mortgage, instead all the money will go into my ISA
- I’ve been overpaying £500 a month to my mortgage, this will be diverted from October
- Also ensure I re-mortgage to a lower interest rate (now I’m under 60% LTV)
- Keeping paying £1k a month into my pension, and increase with any increased contract rate (pay rise)
- Learn more about investing, to ensure my money is working as hard as it can for me
- Frugal-ness – my spending has increased recently, have a look at what can be trimmed and invested instead
- I need to challenge myself more, and do the ‘Do I really need this’ test
- Find more frugal days out and ways to socialise without spending money