Our Numbers – from the very beginning …

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!

January 1, 1984

Hello Mrs. CC

January 1, 1987

Cashflow Cop’s First Job

September 1, 2000

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

Cashflow Cop at University

September 1, 2002

I go to university for my undergraduate studies.  

£ Finance Update

April 5, 2003

£ Finance Update

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

Mrs. CC’s First Job

September 1, 2003

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

£ Finance Update

April 5, 2004

£ Finance Update

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

£ Finance Update

April 5, 2005

£ Finance Update

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

Cashflow Cop Graduates!

August 1, 2005

I finish my undergraduate studies.

Cashflow Cop at University

September 1, 2005

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

£ Finance Update

April 5, 2006

£ Finance Update

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

Cashflow Cop Graduates!

December 1, 2006

I finish my postgraduate studies.

£ Finance Update

April 5, 2007

£ Finance Update

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

Cashflow Cop Joins the Police

July 1, 2007

Property No. 1 – Purchase

October 1, 2007

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

£ Finance Update

April 5, 2008

£ Finance Update

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

£ Finance Update

April 5, 2009

£ Finance Update

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

£ Finance Update

April 5, 2010

£ Finance Update

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

Mrs. CC Joins the Military

June 1, 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.

Mrs. CC at University

September 1, 2010

Mrs. CC starts university, fully funded by the Military.

Cashflow Cop and Mrs. CC Meet!

November 11, 2010

£ Finance Update

April 5, 2011

£ Finance Update

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

£ Finance Update

April 5, 2012

£ Finance Update

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

Property No. 1 – Update

October 1, 2012

Mortage renewed and reduced to 17 years.

Cashflow Cop at University

March 1, 2013

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

£ Finance Update

April 5, 2013

£ Finance Update

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

Mrs. CC Graduates!

August 31, 2013

Mrs. CC graduates with her nursing degree.

£ Finance Update

April 5, 2014

£ Finance Update

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

Discover FI!

December 21, 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.

Our FI Journey Begins!

January 1, 2015

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

£ Finance Update

April 5, 2015

£ Finance Update

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

Property No. 1 – Update

October 1, 2015

Mortgage renewed and term reduced to 5 years.

Property 2 – Purchase

March 1, 2016

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

£ Finance Update

April 5, 2016

£ Finance Update

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

Cashflow Cop & Mrs. CC are Married!

July 1, 2016

Cashflow Cop Graduates!

August 1, 2016

I finished my postgraduate studies.

Property 3 – Purchase

January 1, 2017

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

Baby Cashflow Cop Arrives!

January 1, 2017

£ Finance Update

April 5, 2017

£ Finance Update

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

Property 2 – Update

March 1, 2018

Mortgage renewed and term reduced to 7 years.

£ Finance Update

April 5, 2018

£ Finance Update

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

4 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 authorReply

      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.

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