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

cazmanian_minx

Sorry, sorry, sorry, I missed the update - bad Minx

As you can see from the sig though, I'm back over my start figure again after paying the tax bill, so you were probably better off without me

Now have 10% of the original mortgage paid off though, which is a step in the right direction!

Onwards and downwards....

PS: have now updated via the update form, just in case there's a re-run of chart 5!

abouttimetoo

financialbliss wrote: »

Ok, A bit later in the day than planned, but here's Chart 05:
https://spreadsheets.google.com/pub?key=0AnhcWfGMRVgddGtzMTdvS1VnNXUwakpPc3NjZzRHMVE&hl=en_GB&single=true&gid=32&output=html

As per usual, intending to keep the chart open until the end of the month, and I'll keep checking and add in any further updates that trickle through. If you can back calculate a previous balance for any of the previous charts and you missed an update, please supply a balance with a note in the update comments box that it's for a previous chart. Financial Bliss / Maz123.

cazmanian_minx wrote: »

Sorry, sorry, sorry, I missed the update - bad Minx

As you can see from the sig though, I'm back over my start figure again after paying the tax bill, so you were probably better off without me

Now have 10% of the original mortgage paid off though, which is a step in the right direction!

Onwards and downwards....

PS: have now updated via the update form, just in case there's a re-run of chart 5!

Don't worry Caz, I'm sure FB will be able to squeeze you in, as you can see above he's intending to keep the chart open for updates until the end of the month for any stragglers. I also made a mess of my own update and had to send poor FB another update.

Good to see you back posting

diadeb

Well done to everyone and thanks FB as always.

I have a dilemma coming. I have decided to purchase another property for renting out as a holiday home. This has unexpectedly become my main job (renting out an existing property for holidays) and my main source of income. I will not be increasing our overall debt, but will be using all the savings that were previously offsetting our mortgage.

So, the debt could go up on paper, as I would have to take out the offset figure, OR it could go down (and actually go well below the target) if I simply removed the part of the mortgage out of the equation that is now effectively a "business mortgage".

We have spent a small fortune this past year landscaping our garden and so we really need to build our savings back up. This means I have had to stop the big overpayments I was previously making and just settle for little steps as and when I can.

I really don't want to leave the challenge, but realistically the figures will no longer make sense, so not sure what to do! Any ideas?

must_stop_spending_2

Not updated the chart or posted for ages. Due to a successful PI claim and redundancy have managed to overpay £37k. Not sure we'll make the target due to no job now, but attempting to set up my own business so we'll see how it goes.

Have updated the chart now

:j

RosieTiger

must_stop_spending wrote: »

Not updated the chart or posted for ages. Due to a successful PI claim and redundancy have managed to overpay £37k. Not sure we'll make the target due to no job now, but attempting to set up my own business so we'll see how it goes.

Have updated the chart now

:j

But your in a far better position to give the business a go now! Good luck with your new venture

RosieTiger

Page 3???? Page 3?
Can't be having this on page 3.
Managed to get an extra £300 paid in from Quidco and the excess from a shares transaction today. Every little helps!

TheBees

Hi everyone - we've had a very busy couple of months and must apologise for not updating on time. Have just done it with googledocs form so hopefully we'll be updated soon on the chart.

Still managing to save a little extra each month to put towards our annual overpayment at the end of the year and so glad we changed to repayment last autumn.

Just recieved my bonus from MrW supermarket where I have a 2nd job. :j Should really throw it at the mortgage but tempted to spend it! Maybe I'll save half and spend half.

SuiDreams

Our Bathroom is now finished, final payments will go out of the bank next week. Then summer Holiday to pay for the following week, then back to saving money for the mortgage.

shangaijimmy

Things have been a bit tight in since the New Year with some big birthdays (2 x 40's and 1 x 30). So as well as the big presents it's also the big nights out that go alongside it!! Things will settle down in April so we should get back to our steady overpayments.

Kipper

Good Evening All

First of all, apologies for being so late in updating the chart this time around. After much juggling, budgeting and a great deal of :money:living we have finally paid off the remaining balance and are now MORTGAGE FREE!! :j

Thank you all so much for the support and inspiration on this site, it has been truly life changing. FB & Maz, thank you for your organisation and smashing charts.

For all of you here striving to pay off your mortgage and beat the banks and the big guns, I say keep going, keep paying it off bit by bit and you will get there. Good luck!:beer: