Pay Off Your Mortgage In Two Years Blog Discussion

martyn4764

I agree with a lot of your comments; in fact, the wild glossing over of ACTUAL, ACHIEVED figures really detracts from the programme for me - show us a copy of their mortgage statement on day 1, then show it again on day 730; everything else is theoretical.

I knwo it's entertainment, but a bit of honesty would improve the programme - or is Rene's reputation more important to him/the producers?!

Altarf

cazmanian_minx wrote:

What I thought was interesting was some of the voice-over at the end where they said they were convinced it couldn't have been done without sacrificing their family values and happiness - which we know isn't true because we saw Dan and Lucy pay off double that amount in the first episode without ruining their family life. I think it's all down to attitude and creativity.

It also helps if you have a skill that earns you £2000 a week and still allow time for surfing, like Dan did.

jimmy1jag

Since the programme was recorded, Dan has put his price up to £2600 per stove and has limited his total production to 350 units in total. By my reckoning he'll have made a cool half a million from the venture, less tax of course.

oldMcDonald

reecos wrote:

Anyone know if the programme is repeated at all.

Apologies if this has all ready been answered in an earlier post.

If you have NTL both the programmes shown so far in the series are available for free via 'On Demand'

HammersFan

I was really quite shocked to see the naivety of the couple featured last week (the baby box lady and mr. indecisive). First, I wonder how much he frittered away going down several dead-ends on renovation ventures he clearly had no intention of pirsuing (a few thousand, I think). Second, she said she wanted to pay more money to charity rather than reducing her mortgage. So, the logic of that is: let me give money to the bank (in the form of interest) so that i can give money to chairity. Why not use the money earmarked for charity donations to pay down the mortgage, keep a tally of the interest saved as a result of these overpayments, and when the mortage is clear, make a payment to charity that is the sum of the payment you would have made plus the interest saved i.e. the chairty gets more, the bank gets less. Surely that is more ethical than allowing the bank to make more money because you are taking longer to pay the mortgage by giving more money to charity?

caseys

Hi all,
Just to let you know, all the contributors from the programme met up on Saturday night in London courtesy of Rene.
It was a really good night with copious amounts of alcohol consumed and lots of new friends made.
Anne-Marie and I really hit it off with Neil and Steph Drake who are on this weeks installment, and ended up wasting LOADS OF MONEY going out with them for a Chinese meal and afterwards booking into a deluxe hotel room for the night.( seperate room from the Drakes as Steph had a headache! :rotfl: ) Do we feel guilty? absolutely not!!!!!!
It was great to waste money again...... only joking!! Seriously we had a smashing night and I must say that Dan & Lucy are as nice in person as they are on the screen.
We were shown clips of each programme and also some out takes which were really funny, ( especially the bit where our 3 year old goes flying in a play area ) he by the way didn't find it quite as amusing:o

Sean Casey-Poole: Programme 5 on 8th February.

MORPH3US

( seperate room from the Drakes as Steph had a headache! :rotfl: )

Ha ha ha, LMFAO!!!

Can't wait to see your show Sean!!!

M

Wyndham

I like the programme but have a couple of problems with the concept. First of all, the whole two year thing seems a bit restrictive. Someone could "fail" but pay off their mortgage in three years or four years, which is still a really good result, but because of the two year deadline, which is only in place for the programme makers benefit, then if feels artificial. I wonder if we'll get someone who only needed an extra month?

The second point has been mentioned above and is about the Maths that is being used. Mostly I'm not sure if the money is being put into the mortgage as it arrives so there is immediate benefit. It would make more sense than it sitting round in a (low paying?) savings account then being paid off at the end.

MORPH3US

Wyndham wrote:

I like the programme but have a couple of problems with the concept. First of all, the whole two year thing seems a bit restrictive. Someone could "fail" but pay off their mortgage in three years or four years, which is still a really good result, but because of the two year deadline, which is only in place for the programme makers benefit, then if feels artificial. I wonder if we'll get someone who only needed an extra month?

When setting a target for anything, you should make sure that the target is "SMART"

Specific
Measureable
Achieveable
Realistic
TIMED

That last one is the important one here, you have to set a time limit on it otherwise you have nothing to worktowards.... you are right, someone could pay it off in 2 years and 1 month, and I wouldn't consider that a failure. They still did it. The Timed element isn't necessarily a deadline but a target within the target!!

M

Wyndham

MORPH3US wrote:

When setting a target for anything, you should make sure that the target is "SMART"

Specific
Measureable
Achieveable
Realistic
TIMED

That last one is the important one here, you have to set a time limit on it otherwise you have nothing to worktowards.... you are right, someone could pay it off in 2 years and 1 month, and I wouldn't consider that a failure. They still did it. The Timed element isn't necessarily a deadline but a target within the target!!

M

Spot the person who's been on the management course

I take the point, but I think my argument is really about whether it was Timed AND Achieveable i.e. was the timing realistic?