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

gerbiljo

Well done MOOC


Luihut, we're the same, I'm more keen but it makes my husband a bit depressed! At the moment we are still on track but have built up some credit card debt whereas before we were living off cash. It is all interest free and now has to be addressed but we've gone about it from an extreme angle but if we couldn't do it this quick we would have to back right off because tbh in the longterm it would be far too stressful and reduces your quality of life! He is certainly happier since we have relaxed it a little. Good luck

Will send my update tomorrow when it all come out:)

greent

No 117 reporting in with a balance for the June update of £83834.66 - Google docs form sent

mummyofonechild

gerbiljo wrote: »

Well done MOOC


Luihut, we're the same, I'm more keen but it makes my husband a bit depressed! At the moment we are still on track but have built up some credit card debt whereas before we were living off cash. It is all interest free and now has to be addressed but we've gone about it from an extreme angle but if we couldn't do it this quick we would have to back right off because tbh in the longterm it would be far too stressful and reduces your quality of life! He is certainly happier since we have relaxed it a little. Good luck

Will send my update tomorrow when it all come out:)

Thank You

setmefree2

setmefree2 (no 8) reporting in - google docs completed with a balance 0f £57, 274.

Trying_to_be_good

Number 48 reporting in - mortgage balance £272,000, and Cash ISA at £30,000. We're 18 months into a five-year fix, and I can't match my mortgage rate with a cash ISA rate for 3-years or less, so this year's ISA money is still in the offset and I've not officially counted it against the mortgage.

I've also been shopping for some new furniture, so will take a bit out of my own offset savings to pay the credit card bill - a cash back card, of course!

House renovations are nearly complete for now - the extra money set aside is spent up, so will need to decide whether to spend from savings (in which case how much should be me and how much from OH - we have separate finances apart from household bills, and the house is 75% mine as he had no money!). I've had enough of living in dust for months, so need a break anyway! Spending from my offset savings will obviously push back being mortgage free - it's five years out at the earliest, and we're both facing possibly redundancy. It was all so simple a couple of years ago!

Good luck everyone, looking forward to seeing the chart and analysis.

someday_soon

Hi All

I have just updated- half way already- and I am very happy with what we have acheived so far. Problem is, I think we are about to fall off the wagon big time. Had some quotes for work to the house, big mistake, ok not strictly need but more want, but I know that one job will lead to another IYKWIM. Should we hold off for 18 months and see this through or not?

Would be interested to hear your thoughts.

Good Luck with your own challenges

Someday Soon

twinklie

I'm at what you see in my Sig. However hoping my total more than doubles by next update....that would mean we have moved! We shall see.

black_taxi_2

halfway thru 12/12/12 --everyone still here well-done

£940 payment this month---updated google chart balance

also my last payment on 8k bank loan cleared today--a great milestone---only mortgage to deal with now

SuiDreams

Net balance is now £14595 (I will update google docs later). Still not paid any additional back for the new bathroom, but we have paid for Holiday etc without reducing savings etc. Once holidays are over will hopefully be able to start paying more back.

gerbiljo

Gonna update now, £55735 very happy with that on target!

Someday soon, if you can clear the mortgage in that time I'd be inclined to stick to it, depends how much you want the work done, we are holding off on our extension tho (midway) so maybe I'm a bit biased