Expected FIRE date April 2021 (3 years/ 1,095 days)
Our starting point is zero, well it's worse than zero thanks to overspending and missing payment dates. But the first step to improving your situation is putting it all out on the table and now with me bringing in an extra $1400 a month that will help alot.
Our yearly expenses equal $47,000 at this time April 2018
After spending a few months haggling on our utilities I have saved us $400 odd a month so now Utilities and groceries are $660/fortnight, well once I get back on top of all the utilities. I've listed all overdue amounts and am putting a little extra on each one then once the lowest utility is caught up I can focus that extra amount on to the second one and rinse and repeat till all caught up, will take quite a few months of hubby doing extra overtime before we have any breathing room. It is beyond tight atm!
House $441,102.75 starting point. Goal is to get home loan down to $340,000 January 2020
Personal Loan $32,956. Goal is to have it paid out May 2019
State Debt $1,500. Goal is to have it paid out May 2019
Save $0/$15,000 for first wholesale order. Goal is for January 2019
Once PL and SD are paid our yearly expenses will be $35,000
The kennels we would like to buy would more than cover our living expenses and even give us a profit add to that my amazing exisiting clientele I'm not sure how much profit. I'm so excited to get back to pet minding!
My goal with my job is to save for the first wholesale shipment in 10 months or less if I only have the one job but fingers crossed I get nights soon! And then focus on paying the personal loan off as it is $741/month but $500 is being eaten up in interest so by this rate the loan will be paid off in 6 years BIG FAT NOPE RIGHT THERE. I want to be FIRE in three years or less. (excluding our new mortgage)
And our end profit also depends on how much we can sell our current home for to fund the next purchase since 12 months our value has dropped $100,000. So if we sold now we wouldn't have anything left after tax and agent fees. I'm hoping in the next three years it improves!
Eventually the FI goal is to have no mortgage which would bring our expenses to $16,000 A YEAR. Oh dear lord someone bring me the smelling salts, I feel faint!
Next on my hit list is groceries I spend $6,000 a year on feeding our family whyyyy can't we just live on air?
-Mel
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