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

financialbliss

hoobydoobydoo wrote: »

Trying to be good - PM-ed you just now, but for the public record I am quite happy to swap numbers!

best wishes all
HDD

Great. Many thanks for that. I now make it:

48. Trying to be good
49. hoobydoobydoo
50. coco2972

I'll PM everyone to make sure there's no confusion. More importantly we've got to questee number 50. Well done everyone. :j

Off to update post #1 plus the chart as it's not been updated in a while...

FB / Maz123.

RosieTiger

financialbliss wrote: »

. I now make got to questee number 50. Well done everyone. :j

FB / Maz123.

This is great to see 50 on board, it will be interesting to see what number we have when the real start date comes !

gingernutbizkit

We had our first appraisal today and it went really, really well . The end part was to discuss our level of pay. There's three levels and we're level one so no worries about being moved down :rolleyes:. I went in all prepared for my argument to be raised to level 2..... and they raised us to 3 :T

I am soooooo HAPPY!!!!!!!!!:j:j:j:j

It means around £450 a month extra to pay off the debts.... off to see what a difference it could make to our debt free date.

Ging x

Double_Trouble

gingernutbizkit wrote: »

We had our first appraisal today and it went really, really well . The end part was to discuss our level of pay. There's three levels and we're level one so no worries about being moved down :rolleyes:. I went in all prepared for my argument to be raised to level 2..... and they raised us to 3 :T

I am soooooo HAPPY!!!!!!!!!:j:j:j:j

It means around £450 a month extra to pay off the debts.... off to see what a difference it could make to our debt free date.

Ging x

That is great news so pleased for you it should make the challenge a bit easier for you:T

DTxx

gingernutbizkit

thanks DT.

maz123_2

gingernutbizkit wrote: »

It means around £450 a month extra to pay off the debts.... off to see what a difference it could make to our debt free date.

Ging x

That's fantastic, now that's what i call a pay rise. Quick get to the snowball calculator, that's worth a new spreadsheet.
:T:T:T:T:T:T:T:T:T:T:T:T
maz

llydaw

I loved the original MFiT thread which really inspired me to start paying more towards the mortgage.

I'm currently part of the MF wanabee 2009 challenge and hope to reduce my mortgage by £6k by the end of the year. I know I won't be in a position to clear it all in 3 years but I'd like to make a good dent in it. I'll need to have a think on how much I can realistically reduce it by in the 3 years and will then post the figures and an update on the mortgage amount closer to the close of the 2009 challenge.

Going to have a play with some spreadsheets now to see what I can save. I've never enjoyed updating spreadsheets so much in my life :rotfl:

Good luck everyone

financialbliss

@ gingernutbizkit - that's a great increase. £450 extra a month for 3 years is £16,200. Should at least make some dent in your mortgage. Well done for achieving that!

@ llydaw - I make that no. 51. I'll PM you to make sure you don't miss this.

FB.

gingernutbizkit

New spreadsheet done .

I have had a rethink of my original goals. [STRIKE]We[/STRIKE] I was planning to try and get all our debt and mortgage paid off in the three years..... I now relise that this is very unrealistic. The only way we could do it is by increasing our earnings more and not having a life...... which is a big thing to ask of two kids (and the wife!).

So my new goal that I would like to record for this challenge is to get our total debt down to £70,000. It currently stands at £159,405.99 so it's still a high goal to reach. :eek:

If we had continued to pay our mortgage 'normally' it wouldn't have finished until 2032 so I know that we are definately still going to be ahead.

Ging x

RosieTiger

Well done on the pay rise, I think your new target sounds sensible - we all need to have a life too !