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

PhoneGuru

RosieTiger wrote: »

We have just added up our Christmas presents buying and we spent £1700 on presents ( including ourselves and kids).

The bad news was that we have both felt quite skint over the last few months in doing it. Having read some recent posts we really need to look at this far earlier for the coming year making better use of the sales, but at least we didn't get caught in the usual walking in circles around the shopping centre finding things at the last minute with a matching top price!
However, we seem to have come through without being stupidly overdrawn or with anything too horrendous on the credit card.
We also have over a £100 from quidco coming our way at some point and the credit card will owe us just on £100 in cashback which will pay in March.
Mortgage should be just over £66,000 which means we have paid back £50,000 in 12 months :j

That is seriously impressive, where do you find £5k per month spare to overpay by so much? Do you have extra income, 2nd jobs etc? Looking for some ideas / inspiration.

RosieTiger

PhoneGuru wrote: »

That is seriously impressive, where do you find £5k per month spare to overpay by so much? Do you have extra income, 2nd jobs etc? Looking for some ideas / inspiration.

We do OP by a fair margin, but we have also took money from savings to get to this point too!

RosieTiger

financialbliss wrote: »

@RosieTiger - Top 50 by value chart shows you after chart 04 paying £49,990 - is that the chart which is wrong, or did you round up by a tenner, which I think we can all let you off if you did? :rotfl:
Financial Bliss / Maz123.

Sorry guilty as charged for the rounding up, we will both go away and read through the Mortgage Free gospel of St Martin and make an OP of £10 as penance :rotfl:

black_taxi_2

im 105

will work extra to get to top 100:eek:

black_taxi_2

by percentage is best as its not an indicator of wealth/amount but personal financial situation

tattycath

black_taxi wrote: »

im 105

will work extra to get to top 100:eek:

I seem to have been dropping down in every chart-now in the 60s on chart 4 so I hope to be able to pay more off this coming year. I've made a meager(sp) £21.49 in overpayments since the December chart!!!

Superfast_Gran

I didn't realise I'd been away so long - life got in the way! Anyhoo, here am urr agaan!

Lots of things have happened since I last posted but not much in the way of mortgage overpayments. Hopefully that is about to change.

Forgive me if I've already posted some of this but couldn't figure out how to find my very last post - duh :huh: In July, thanks to an old school friend, I done got myself a J.O.B. It started off as full time but long story short changed to part-time and then had those hours reduced even further. Major triumph for me after almost 3 years of depression, big operation, yada yada yada. The depression is still here but managed. We tried putting the house on the market again but 6 months on we've not had so much as one viewing and we've no cash flow to keep it up for sale.

So! Back to the challenge in earnest.

We still have a chunk of CC debt but the money that I keep earmarking for it seems to get spent so we're going to have to think again and re-assess where we go from here. I will update the figures in my signature today and we'll just go from there.

chickadee

Hi MFiTers, I have been a bit busy recently (haven't we all?) and I haven't updated since about August. However, here are my latest figures:

Balance at 12th Dec was £15,969;
Paid off £20,652 or 56.39%.

I'm still hoping to have paid it all off by the end of the challenge, but I'm going to have to do a bit better than in the last couple of months. I changed jobs this year and I don't earn as much as I did before, so I have to be more careful with my money.

Happy New Year to you all!

chickadee
x

twinklie

In the chart by percentage I post at these figures.....90, 82, 83, 81. Thanks FB. I've been out of the other top whatever charts because my payments are tiny. However, this has totally cheered me up and made me feel like I'm actually achieving. I can see people I know in sight and it gives me a little incentive to try harder. Ok so first priority is to pay off the CC's before the mortgage but that should all be taken care of in the next 6 mths I reckon....it's exciting!

Time to work out final figures for the year now I guess.

loopy-juice

Ooooooohhhhh. Just outside the top 100 coming in at 101 on percentages. Only 24 more payments to make. Congrats to those in the higher levels of % paid off. Some of you are nearly there. Thanks for the charts FB. Good reading...