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

financialbliss

Quick post to say I believe I've addressed all outstanding updates, plus I've just published Chart 07 as a link:

https://spreadsheets.google.com/spreadsheet/pub?hl=en_GB&hl=en_GB&key=0AnhcWfGMRVgddGtzMTdvS1VnNXUwakpPc3NjZzRHMVE&single=true&gid=41&output=html

I'll add the above chart into the start of the challenge.


I've calculated that I need to "find" an extra £617 pounds to prevent myself dropping into the red zone for the first time in the challenge.

Not quite sure of how or even if I'll be able to prevent this...

FB.

RosieTiger

Once again FB thanks!

diadeb

Kaz2904 wrote: »

One thing I have noticed is that second hand cars of the old banger variety have shot up in price since the scrappage scheme. Another way in which we have screwed over the younger generation.
The waste of all those thousands of cars which have to be scrapped when they are still perfectly good cars is sinful

Just wanted to second that. My eldest bought a 10 year old car for his first car and the price was ridiculous compared to values prior to the scrappage scheme. Great if you have a car to sell, but unfair on the new drivers.

Scrapping a car that can still drive is the most environmentally UNfriendly thing you can do, no matter what emissions it's chucking out. The most CO2 emissions are car produces are during its manufacture, so as soon as it exists you're better off running it until the end of its natural life, just maintaining it properly until it's no longer economic to do so.

Thanks FB as always for your hard work. We know you fit it round a busy life. Hope you manage to scrape together enough to not hit red!

Captain_Pie

I'd like to join in for the remainder of the term, although I won't be paying it off before the end of next year!

Our mortgage balance (having just made July's payment) is 144875.00.

Not sure how realistic this is, but I'm going to set us a target of £133k exactly. If it looks like it's going well, then I might set a lower target

Thanks for the heads up FB. Put me in any free slot...

hoobydoobydoo

Not sure if this is possible......

I am #49 in the challenge, aiming to pay off our further advance by 12/12/12 which should easily be possible. We also have a mortgage with a current outstanding balance of £112058.94. By 12/12/12 I would like this to be £99999.99 (ie just under £100k) and I wondered if I could have another of the spare slots in the challenge to attack the mortgage separately. If nobody minds, then please can I have the nearest spare number to 49 so that they are close together on the chart?

Thanks
Hooby

RosieTiger

Captain_Pie wrote: »

I'd like to join in for the remainder of the term, although I won't be paying it off before the end of next year!

Our mortgage balance (having just made July's payment) is 144875.00.

Not sure how realistic this is, but I'm going to set us a target of £133k exactly. If it looks like it's going well, then I might set a lower target

Thanks for the heads up FB. Put me in any free slot...

Welcome aboard!

RosieTiger

Bumped and fully warranted given the amount of debt paid off so far by this group!!!

Captain_Pie

Captain_Pie wrote: »

Our mortgage balance (having just made July's payment) is 144875.00.

Overpaid quite a bit after the July payment went through earlier this month. The balance is currently £144200, a nice reduction

adwat

diadeb wrote: »

Just wanted to second that. My eldest bought a 10 year old car for his first car and the price was ridiculous compared to values prior to the scrappage scheme. Great if you have a car to sell, but unfair on the new drivers.
...

I'll third that... I've just bought a new (second hand car) and am amazed at how prices have shot up, admittedly I bought mine 4 years ago but like for like prices have gone up almost 50% in that time.

Bang goes my intended mortgage free date... I think I've just kicked it into next year :rotfl:

egon

Hi financialbliss,

apologies, that I haven't been in touch for so long. We have now moved countries and sold our house in the ÚK and bought in Germany instead. It was easier then finding somewhere to rent!

So I will need to change our figures and wil email them asap.

I will catch up with everything/ everyone later.

Egon