The Mortgage Free in Three - Take 4 challenge (MFiT-T4)

Have just done my first update! Balance now £38,786, so £17,161 paid off in first quarter. Progress will definitely be slower now - the novelty is wearing off and less junk about to sell... Plus work is quieter in the spring and summer. But an encouraging start.

Great going, brila! :T

I've updated - no savings whatsoever to speak of to add.

Had a very strange start to the year with my hours at work cut to the bone, but I've found myself a new job which started just last week. I will be making lots more pennies (hurrah!) so should be back on track soon and will make up the shortfall by mid/end of the year. Whew!

Good luck, everyone!

Hi,


I've managed to cut down the odd coffee and am sticking to home brought lunches (except yesterday and today - and spending £4.50 for an M&S meal deal now seems soooooo extravagant so I've definitely switched to a different mindset ):D


However, spending plans are about take precedent over saving plans as my hubby is celebrating a significant birthday this weekend. I plan to enjoy every bit of the spend


Here's to the 25th April report, coming soon !


FG


P.S. Taka, I was unemployed for a period during MFiT-1 (I think it was that far back...), strangely enough MFiT helped keep me cheerful during the 18 months I was without a proper salary ! And I got made redundant last year and had over 4 months without a salary.


Hang on in there, know how it feels

Update 1, and i'm down from £135k at the start to £128,414, so a drop of £6571. Just green, I think?

For me update 1 marks ten years since we took out the mortgage and moved in, and also the £100k paid off mark - we started at £229k, and just dropped under £129k. Amazingly almost two thirds of that has been in the last three years, when we started seriously focusing on overpaying, and the plan is to be mortgage free in late 2020, which would be a bit over ten years early. Shows what a difference some OP's can make, wish we'd started a bit earlier

FreedomGirl wrote: »

Hi,
P.S. Taka, I was unemployed for a period during MFiT-1 (I think it was that far back...), strangely enough MFiT helped keep me cheerful during the 18 months I was without a proper salary ! And I got made redundant last year and had over 4 months without a salary.

Hang on in there, know how it feels

Thanks for the kind thoughts. It is the 3rd time in 5 years which is just rubbish (lots of short term contracts in my field.) In good news I just started a new job! :j It is only a year's contract which is not ideal but that is better than nothing!

Oh well, being forced to keep my outgoings low for a bit means I now know where I can shave some £££s of my monthy spends which should be good news for my MFiT-4 challenge!

I received a surprise tax refund of £236.80 so I've just OP'd it. I'm behind for the 1st update date but at least I'm off the starting blocks! :beer: I've also opened a 5% regular saver so will be saving to that instead of OPing for the next year.