Our Numbers – from the very beginning …3 min read

Our Numbers - From the very beginning - Cashflow Cop Police Financial Independence

 

(no. 006)

After giving it some thought, I have decided to share most of our numbers apart from our net worth.  I hope the numbers I have decided to share will help to provide some context into how we are hoping to achieve FI.  I will continue to update this page which will provide a summary of our numbers as well as a timeline of our journey towards FI.  

You can see our numbers in more detail broken down for each tax year by clicking on the relevant buttons below.  I will document from the tax year 2016 – 2017 onwards.  In all honesty, I just haven’t got the time write up everything going back further, but the summary on this page should give you an idea of how we managed our finances before we found out about FI.

 

Savings Rate

Whilst I was studying, my savings rate was zero.  It is not something I am proud about and in hindsight, I should have set some money aside sooner for an emergency.  However, I did manage to save up for a Masters degree without taking on more debt to fund it.  As soon as I started working properly, I really focused and started to squirrel away money properly.  In 2015, our savings rate jumped because Mrs. CC and I decided to pool our resources together.  To this day, we still ask each other why we waited so long?!  Perhaps it had something to with our three or four holidays a year.  We have actually returned from holiday to immediately take another flight to go on another one!  That’s a story for another time.  

The chart below shows my savings rate since I was old enough to work.

 

Savings Rate - Tax Year 2000-2017 - Cashflow Cop Police Financial Independence
[Updated – 26/05/18]

 

Consumer Debt

Mrs. CC has never had any consumer debt.  She has used credit cards, but only to obtain points and she always paid off her balance in full every month.  The chart below shows my consumer debts over the years.  The total includes my credit card debts, personal loans and student loan.  We currently have no consumer debts and I have no intention of taking on any more in the future.  

 

Consumer Debt - Tax Year 2016-2017 - Cashflow Cop Police Financial Independence

 

Mortgage Debts

We see property as a valuable asset class which helps us to diversify.  The chart below shows our mortgage debts over the years.  We are currently aggressively playing down these mortgages.  In the interest of transparency, I was only able to buy Property 1 due to a small informal loan which I have paid off.  Property 2 was purchased with my parents.  They own a 20% share, with myself and Mrs. CC owning the remainder 80%.  Property 3 was purchased with a small inheritance Mrs. CC received together with some savings.  We both acknowledge and are grateful for what we have and what has been gifted to us.  Receiving an inheritance comes with it alot of responsibility.  We are very conscious to ensure that we not only protect this inheritance but ensure that it grows for future generations.  We were not tempted in the slightest to use a single penny of it to go on holiday or buy a new car.  I will write about this more in another post.  The chart below also shows the predicted mortgage balances over the next few years. 

 

Mortgages - Tax Year 2016-2017 - Cashflow Cop Police Financial Independence

 

Timeline

The timeline below shows our personal finance journey and our discovery of FI.  Some of the dates I have selected a random month or day as a precaution to disguise our identity.  

Hello Cashflow Cop!

1 January 1984

Next Post

Hello Mrs. CC

1 January 1987

Previous Post Next Post

Cashflow Cop’s First Job

1 September 2000

My first proper job at 16 in hospitality.  I saved money, but only to spend it all.   Previous Post Next Post

Cashflow Cop at University

1 September 2002

I go to university for my undergraduate studies.   Previous Post Next Post

£ Finance Update

5 April 2003

£ Finance Update

Debt: TOTAL = £12,500 // Savings Rate = 0% Previous Post Next Post

Mrs. CC’s First Job

1 September 2003

Her first job at 16 in the publicity department of a college. Previous Post Next Post

£ Finance Update

5 April 2004

£ Finance Update

Debt: TOTAL = £15,000 // Savings Rate = 0% Previous Post Next Post

£ Finance Update

5 April 2005

£ Finance Update

Debt: TOTAL = £17,500 // Savings Rate = 0% Previous Post Next Post

Cashflow Cop Graduates!

1 August 2005

I finish my undergraduate studies. Previous Post Next Post

Cashflow Cop at University

1 September 2005

I’m back at university for my postgraduate Masters degree. Previous Post Next Post

£ Finance Update

5 April 2006

£ Finance Update

Debt: TOTAL = £17,000 // Savings Rate = 0% Previous Post Next Post

Cashflow Cop Graduates!

1 December 2006

I finish my postgraduate studies. Previous Post Next Post

£ Finance Update

5 April 2007

£ Finance Update

Debt: TOTAL = £17,000 // Savings Rate = 5% Previous Post Next Post

Cashflow Cop Joins the Police

1 July 2007

Previous Post Next Post

Property No. 1 – Purchase

1 October 2007

25-year mortgage on a three-bed end-terraced property with lodgers. Previous Post Next Post

£ Finance Update

5 April 2008

£ Finance Update

Debt: TOTAL = £196,348 // Savings Rate = 7.93% Previous Post Next Post

£ Finance Update

5 April 2009

£ Finance Update

Debt: TOTAL = £197,685 // Savings Rate = 19.25% Previous Post Next Post

£ Finance Update

5 April 2010

£ Finance Update

Debt: TOTAL = £199,281 // Savings Rate = 24.84% Previous Post Next Post

Mrs. CC Joins the Military

1 June 2010

Mrs. CC joins the RAF and begins her university studies to be a Nurse.  Her studies were funded by the military and whilst also receiving a salary from them. Previous

Mrs. CC at University

1 September 2010

Mrs. CC starts university, fully funded by the Military. Previous Post Next Post

Cashflow Cop and Mrs. CC Meet!

11 November 2010

Previous Post Next Post

£ Finance Update

5 April 2011

£ Finance Update

Debt: TOTAL = £190,675 // Savings Rate = 23.69% Previous Post Next Post

£ Finance Update

5 April 2012

£ Finance Update

Debt: TOTAL = £189,354 // Savings Rate = 19.46% Previous Post Next Post

Property No. 1 – Update

1 October 2012

Mortage renewed and reduced to 17 years. Previous Post Next Post

Cashflow Cop at University

1 March 2013

I’m back at university for another postgraduate Masters degree, this time fully funded by the Police. Previous Post Next Post

£ Finance Update

5 April 2013

£ Finance Update

Debt: TOTAL = £174,884 // Savings Rate = 33.60% Previous Post Next Post

Mrs. CC Graduates!

31 August 2013

Mrs. CC graduates with her nursing degree. Previous Post Next Post

£ Finance Update

5 April 2014

£ Finance Update

Debt: TOTAL = £164,598 // Savings Rate = 29.53% Previous Post Next Post

Discover FI!

21 December 2014

I discovered the book: The Richest Man in Babylon.  A few days later, I find the blog Mr. Money Mustache.  Mrs. CC and I begin to talk about FI. Previous

Our FI Journey Begins!

1 January 2015

Mrs. CC and I begin to pool our resources and seriously work towards financial independence! Previous Post Next Post

£ Finance Update

5 April 2015

£ Finance Update

Debt: TOTAL = £151,991 // Savings Rate = 31.43% Previous Post Next Post

Property No. 1 – Update

1 October 2015

Mortgage renewed and term reduced to 5 years. Previous Post Next Post

Property 2 – Purchase

1 March 2016

10-year mortgage on a three-bed end-terraced property which is rented out. Previous Post Next Post

£ Finance Update

5 April 2016

£ Finance Update

Debt: TOTAL = £222,290 // Savings Rate = 49.96% Previous Post Next Post

Cashflow Cop & Mrs. CC are Married!

1 July 2016

Previous Post Next Post

Cashflow Cop Graduates!

1 August 2016

I finished my postgraduate studies. Previous Post Next Post

Property 3 – Purchase

1 January 2017

25-year mortgage on a three-bed end-terraced property which is rented out. Previous Post Next Post

Baby Cashflow Cop Arrives!

1 January 2017

Previous Post Next Post

£ Finance Update

5 April 2017

£ Finance Update

Debt: TOTAL = £293,155 // Savings Rate = 51.06% Previous Post Next Post

Property 2 – Update

1 March 2018

Mortgage renewed and term reduced to 7 years. Previous Post Next Post

£ Finance Update

5 April 2018

£ Finance Update

Debt: TOTAL = £255,538 // Savings Rate = 60.69% Previous Post Next Post

£ Finance Update

5 April 2019

£ Finance Update

Debt: TOTAL = £206,000 // Savings Rate = 59% Previous Post

8 thoughts on “Our Numbers – from the very beginning …

  1. weenie Reply

    That interactive timeline is bloody brilliant! Thanks for sharing your journey from the start with the numbers!

    • Cashflow Cop Post author

      Hi there LMF. Thanks. I used a free plugin called Timeline Express in WordPress. It’s quite easy to use once I got over the initial how does this all work moment.

  2. {in·deed·a·bly} Reply

    Wow, that timeline is a really effective presentation mechanism, tells your story well. Also love the design of your blog, easy to read plus feels clean and inviting. Well done!

    • Cashflow Cop Post author

      Very kind of you to say. Improving my writing is what I am working hard on and the blog helps me do that. Well done again on your nomination!

  3. Kate Reply

    I’m really excited to have found your blog! While I’m not a police officer, my brother is, and I know how stressful his job can be. I’m a teacher on my journey to FI as a mommy to four kiddos. I write about how teachers can take charge of their money on my blog http://www.financialindependenceforteachers.com. I love that even though both our careers don’t generally yield a lot of money with future planning we can still get ahead!

    • Cashflow Cop Post author

      Thanks for spotting by Kate. My older brother is a Chemistry teacher so I also get how tough your job can be. I know for a fact I can’t do it – I just haven’t for the patience to deal with unruly kids.

      I agree. Although generally our professions don’t make much money, with a solid plan on place, it can still knock many years off the date to retirement.

      I’ll check your blog out.

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