What is the 1st thing you will do when MF?

wabbits

For my wife and I this is some time off......does not stop us dreaming though.

• We would love to have the funding available to take my wifes' parents away for a celebration to Las Vegas as a thankyou for all their help over the years.
• My wife would love to take a job working with animals and animal welfare....either voluntary or on a minimal wage.
• I would love to buy my father his dream car (albeit in kit car form....cannot afford the original)...a FORD GT40.

Anyone else?

StuartGMC

Wabbits
An interesting thought... my thread pretty much sums up my planning, but succinctly:
1) Save enough cash to fund our daughter once she is 18 for the 3 or so years necessary
2) I guess I need to think about saving for a possible wedding for her some time later?
3) Buy a Jaguar XF to replace my S-Type, and be able to replace it every 3-4yrs plus replace wife's car every 3yrs
4) Diversify savings to compensate for wife's reduced pension as she is working part-time presently
5) Have two holidays a year abroad?
6) Prepare a detailed savings and investment plan to allow consideration of early retirement or switch to less stressful/part-time working....

Presently focused on the mortgage clearance but do need to now plan in detail the above...

co123456

First thing I'll do is raise a glass. New year's resolution is not to touch a drop until the mortgage is paid.

Pinky15

I would love to buy somewhere in the sun as a holiday home and future investment. Something not too pricey so we can enjoy the money we have saved.
I would also love my own horse and can only afford this once MF!!
Lots of good reasons to get it paid off.
Also I hear teenagers are extortianate so I have no doubt I will need the extra money especially as once M is paid of I will have 3 of them LOL X

ShelleyC_2

cheeryoleary wrote: »

First thing I'll do is raise a glass. New year's resolution is not to touch a drop until the mortgage is paid.

Blimey I'm not sure I could take the dedication that far

DawnW

work part time at something I enjoy instead of current FT stress!

blueberrypie

Eldest is 14 and will very likely go to uni away from home. Our plan is to have our mortgage paid off by then and - depending on circumstances, housing market etc - possibly purchase a smallish house near where he's studying, which he can live in as and rent rooms to other students rather than paying rent to someone else. We'll have to see what happens after that - it would be lovely to think we could do the same for his five younger siblings, but I'm not planning that far yet LOL

maz123_2

cheeroleary,
I wish I had the balls for that but that's just too much!
good luck i just couldn't do that, but i'll raise my glass to you

RoxieW

Buy a bigger house and mortgage self up to hilt again

george_jetson

This is an excellent question.

I became mf last year and to be honest I still think the implications and possibilities have yet to sink in. I still shop at Aldi and cycle to work and have no intention of buying a car or any other depreciating liability. All those good habits I developed on my mf quest are continuing because they have benefits over and above saving money.

I do enjoy the feeling of having got rid of a huge weight off my shoulders - I feel very content, carefree, bordering on insouciant now. I go to work because I want to not because I have to, and this subtle but significant shift makes all the irritations of the workplace just melt away.

Off to Vegas later this month, and there's nothing stopping me going again next month if I want to. It's this feeling of freedom that I enjoy. I plan to spend the next few months carrying on as I do now, while my savings mount up and at some point I'll put some serious thinking in. But there's no rush.

Kaz2904

I think we're the same as most people with youngish children. Mine are just 7 and just 5. We hope to be clear by July 2013 just before DD is 12. That will give us a few years to save up for the necessary replacements such as cars, any work on the house, refilling the savings and a promised holiday to Florida.
We would then be able to fund a house for DD when she goes to uni if that's what she chooses to do. If not then she can have the option of moving out into a house with *faltmates in our local area. We then save like crazy for the next 2 years so we can do the same for DS.
Now obviously I'm their Mummy and would rather they never left home but I reckon the novelty will eventually wear off!