The Mortgage Free in Three - Take 2 challenge (MFiT-T2)

egon

We have to re-think it all.

I will be handing my notice in at work, as I was left no choice. I have to change my working hours, due to an office move. This will mean, I will have to reduce my hours (the only option my employer will give me) or keep working the hours I do now (which will be impossible, as I would always be late at work and will have to leave early, due to nursery). If I reduce my hours, then I will end up paying more for nursery then I earn). And no, we are not entitled to anything towards childcare cost.

So, this means, we are back on the drawing board! We still want to pay off our mortgage asap. Just might not as much/ quick as we would like it to be!:eek::mad::eek:

RosieTiger

tiddles wrote: »

We want one too!

We received our endowment payment today, after paying into it for 25 years, so were able to add in some extra to round it up and made a £20000 capital repayment today! I'm so pleased! :j

Congratulations - nice big amount to pay back !

setmefree2

tiddles wrote: »

We want one too!

We received our endowment payment today, after paying into it for 25 years, so were able to add in some extra to round it up and made a £20000 capital repayment today! I'm so pleased! :j

Nice one :T

setmefree2

egon wrote: »

We have to re-think it all.

I will be handing my notice in at work, as I was left no choice. I have to change my working hours, due to an office move. This will mean, I will have to reduce my hours (the only option my employer will give me) or keep working the hours I do now (which will be impossible, as I would always be late at work and will have to leave early, due to nursery). If I reduce my hours, then I will end up paying more for nursery then I earn). And no, we are not entitled to anything towards childcare cost.

So, this means, we are back on the drawing board! We still want to pay off our mortgage asap. Just might not as much/ quick as we would like it to be!:eek::mad::eek:

Poor you that

gallygirl

Pah & pants

LouiseJ

Well my mortgage payment for February has gone along with this months overpayment so as there will be no further activity in my account until after the 12/03/10 chart update I have sent my final figures to FB using the google form:D

My starting balance at 12/12/09 was £42991

Balance at 12/03/10 is £38387

A difference of £4604 and 10.7% which takes me ahead of target:j

Can't wait to see everyone else updating soon with their March figures.

Kipper

Morning All!

Have just made op of £450, made up of £150 back from British Gas, £100 from extra hours I did at work in Jan and £200 from DH being paid for an extra job he did. Am very happy :j

Hope everyone else is doing ok

Daisy_Duck

LouiseJ wrote: »

My starting balance at 12/12/09 was £42991
Balance at 12/03/10 is £38387
A difference of £4604 and 10.7% which takes me ahead of target:j
Can't wait to see everyone else updating soon with their March figures.

Well done :T

I'm getting rather stupidly excited about seeing the March figures too- this is all much more motivating as a group! Fingers crossed we'll all be in the green box!

financialbliss

Over on the original MFiT thread, FreedomGirl has recently published the fact that she is mortgage free. She is also in this challenge - no. 197.

After a lot of grief this evening owing to Google spreadsheet not supporting the Excel DATEDIF function, I've eventually sorted out a workaround to enable me to display what I'd originally done in Excel.

In short, we now have a new chart - the MFiT-T2 mortgage free roll of honour chart:

http://spreadsheets.google.com/pub?key=tks17oKUg5u0jJOsscg4G1Q&single=true&gid=5&output=html

It's very much early days, so here's hoping we can add people to the above chart as the challenge progresses.

Off to update the blank post #6 with a link to this chart.

Financial Bliss / Maz123.

Moneybag

Hi all, no 182 reporting

Agree, this thread is getting a bit addictive now, and we've only just started. I find myself getting withdrawal symptoms if I don't drop in daily :rotfl:,how sad am I !!!

I know everyone saves/pays in different ways but my situation at the moment means I can't commit any spare money straight to the mortgage in case an emergency crops up. Hence I'm also trying to save towards an emergency fund. Can I just ask what others would consider as a minimum for this.

I'm on a fairly tight budget for the forseeable future as I am off work due to a health problem. Had second thoughts about this challenge but guessed if I'd posted my doubts you all would have encouraged me to continue. So I've adapted it a little to suit me.

I've decided to save throughout the first three months (so from December til early March), then pay in what I have all together. I'll continue this three-monthly thing while finances are limited. This gives me some reserve cash "just in case"

It's been so motivating reading how everyone is doing and I thank you all for sharing your ideas etc. Good luck to us:beer:.