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

gallygirl

financialbliss wrote: »

With the annual challenges, eg 2009 or 2010, I see the reason for monthly updates, but monthly for this challenge may be too often? It also takes a bit of effort to put the data into the charts too!

As it's a 3 year challenge, I thought every 3 months would be often enough, but what do other people think?

FB.

Em, as I've just committed to 7k for a new kitchen, an update every 18 months would work for me FB

Let's hope we can keep momentum going, well done everybody :T

travellady

Well done everyone!!

I have finally updated google doc's sorry for being late FB I promise to be on time for the next one!

My start balance £88,000 balance at the end of Feb £75,721 :j:j:j
I must admit though some of this was paid just before the challenge officially started..

Heres to the next quarter! :beer:

Frugal_Fox

I'm number 90 - without an objective. I've sent a PM saying I'll probably have to pull out of this one as we are in the process of moving house, I shall have to find something similar when I'm the other side of all this
Good luck everyone,
FF x

kissjenn

Hi number 71 checking in.

Overpaid £12,000 so balance now £117,000.

Building works well underway and £46k of that now completed. So getting there and overpayment still untouched which is very nice to know

Thanks again for organising,

KJ

brizzledfw

All looking fab. Well done everyone - and thanks as well FB and Maz - the charts are brilliant.

Little_Mama

Thanks for the chart, excellent work and so motivating. Hope I can keep it up!

LM

teapot2

Charts look great - thanks for all your work on this FB & Maz. Am not sure if I'm going to be able to continue with the challenge . Had a big shock as it looks like my OH will be made redundant in the summer - its not very likely he'll be able to get another job though of course he'll be looking and trying.

After the initial panic and depression we've got a plan B, C and D and hope to scrape by - we were already fairly MSE but belts will have to be tightened further. Its very scary but we'll do our best to keep our heads above water.

Will continue overpaying while we can and see what happens. I've already applied for and got another day's work which wll help a bit but he earned more than me anyway so its going to be a big drop in income. Will update when I know anything.

Kaz2904

fingers crossed for you teapot2.

setmefree2

teapot2 wrote: »

Had a big shock as it looks like my OH will be made redundant in the summer - its not very likely he'll be able to get another job though of course he'll be looking and trying.

that sucks

cha97michelle

teapot at least you are in a better position from having done a bit of the challenge. See what you can come up with and i am sure you will be ok. I am now a SAHM and my wages for 3 days were what DH earned in 5 pretty much. However, we are doing ok as i am making sure i shop around, grow things in the garden, have time to wash our clothes more often so we don't need as many etc etc. It might feel initially like the end of the world as you know it but you will manage. Let us know how it goes.


In terms of the challenge, i managed to pay off just over £500 again today. That's 2 months in a row. It is feeling a bit hard though and i know i can't keep it up. Not without leaving us short anyhow. But it does mean that i only need to find another £410 on top of my regular payments to be able to meet my target and be green by the next update. I'm not sure how, but i know what direction i am heading in so that has got to be a start right?