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

RosieTiger

shop-to-drop wrote: »

I'm a little bit obsessed with paying off the mortgage at the moment. It's annoying because I'm just wasting time keep working out different scenarios of payments I can make and pretty much always coming up with the same answer. So I'm just repeating myself.

I guess I'm motivated which is good but it's too much and spoiling it for me as I'm not getting the satisfaction I should. Any tips folks?

I do know I need to busy myself more when at home maybe fall in love with our home and give it the TLC it needs especially as we may be here for sometime and we are working hard to pay for it. Anyone else been through this?

This seems to be a recurring point for many of us on here. I start counting the month end position as the month starts and then feel frustrated as it doesn't seem to be moving quickly. Its those spreadsheets that cause me most concern. I love mine, but because I know when and what thenposition is at any time, is sometimes feels like nothings happening. Imagine the joy of not looking for a year and then getting a great surprise when the annual statement comes and you are way below the position you had the year before. But sadly, I couldn't ever do that, need to see it regularly!!!
Frustrating, but all worth it in the end!!

gallygirl

glitterball wrote: »

Had a bit of a shocker tonight, logged into my bank account and it was hundreds out from my trusty wee book. Turns out that my standing order for overpayments hadnt gone through???????? do they time expire?????? so have bank transferred for this month and reset standing orders for the future. Good grief do these banks not realise I am on a mortgage free mission.

Away to have a glass of wine to settle my nerves.

:eek::eek::eek: I feel your pain :rotfl:

Captain_Pie

glitterball wrote: »

Good grief do these banks not realise I am on a mortgage free mission.

Yes, they do. It's all part of their cunning plan to stop you being mortgage free. Resist them!

gerbiljo

RosieTiger wrote: »

Imagine the joy of not looking for a year and then getting a great surprise when the annual statement comes and you are way below the position you had the year before. But sadly, I couldn't ever do that, need to see it regularly!!!
Frustrating, but all worth it in the end!!

OMG this is us too!!!

shop-to-drop

RosieTiger wrote: »

This seems to be a recurring point for many of us on here. I start counting the month end position as the month starts and then feel frustrated as it doesn't seem to be moving quickly. Its those spreadsheets that cause me most concern. I love mine, but because I know when and what thenposition is at any time, is sometimes feels like nothings happening. Imagine the joy of not looking for a year and then getting a great surprise when the annual statement comes and you are way below the position you had the year before. But sadly, I couldn't ever do that, need to see it regularly!!!
Frustrating, but all worth it in the end!!

Thanks for the reply. Has made me feel better actually to know I'm not alone. Does make sense that although the calculators all motivate us, that also because we know what's coming it can cause disappointment and impatience. I hate that in a way I seem to be wishing my life away, which is mad as it is speeding away quickly enough as it is!:eek:

I will consciously try to stop myself using the calculators for a while and just knuckle down wih day to day saving and earning.

Thanks again has really helped. I'm glad I shared!:)

uzubairu

shop-to-drop wrote: »

I'm a little bit obsessed with paying off the mortgage at the moment. It's annoying because I'm just wasting time keep working out different scenarios of payments I can make and pretty much always coming up with the same answer. So I'm just repeating myself. I had to stop overpaying for 15 months last year as we bought a new car and had the loan to pay off. Since then we have been overpaying again, I've been doing what overtime I can too and so we are doing well but my impatience is spoiling it for me. Part of the problem I think is we'd dearly love a bigger place and have decided this may not be possible so now I'm thinking if we can't have that to look forward too at least we can look forward to being mortgage free.

I guess I'm motivated which is good but it's too much and spoiling it for me as I'm not getting the satisfaction I should. Any tips folks?

I do know I need to busy myself more when at home maybe fall in love with our home and give it the TLC it needs especially as we may be here for sometime and we are working hard to pay for it. Anyone else been through this?

In the last 3 years you've:-
a) Paid £23,000 off your mortgage AND
b) Repaid a £15,000 car loan.

In my opinion that is excellent and should give you cause for celebration.
I too get impatient, especially when I have a cr*p week at work and wish I could work a day or two less, or tell them where to stick it.
At the back of my mind, I know that the road to mortgage freedom is a marathon and not a sprint.
The reality of the situation is that I am in a much better position than I would have been without the overpayments, and so are you.
Well done on the progress so far! :beer:

twinklie

I am also another that wants to run rather than walk. It does seem like a long time, but we are all in a better position than if we didn't do what we do. My current decision is whether to tutor or not next year! Thinking I might do. It could bring me £20 - 25 extra per week before tax. Hmmm....just wondering whether to bother really.

Life v's money. We shall see.

Trying_to_be_good

Like so many of you, I'm impatient, too. And I have some life decisions to make:

• I've just reduced my days at work from 5 to 4, but not my hours - I've been working stupidly long hours for a whilw, and now want to formalise it into four long days and one day off. I work away from home three of those days.
• I'll be offered voluntary redundancy later in the year, which would mean much more time at home (and looking for a job closer to home), but a massive knock to our earning capability and mortgage-free desires
• OH is in the forces and is likely to be going away for a 6-month deployment next year - as well as all the downsides, he'll can spend less money as there's nothing to spend on

Lots for me to think about, life could be very different, or as similar as I can make it. I don't know which way I'd like it to go...

beachie

I to get obsessed sometimes, to the point where I can't sleep properly at night or I keep going over my spreasheet or repeating what I have already done.

Really to get my mortgage down quicker now I need to get paid more or get a 2nd job.

Hurdler

beachie wrote: »

I to get obsessed sometimes, to the point where I can't sleep properly at night or I keep going over my spreasheet or repeating what I have already done.

Really to get my mortgage down quicker now I need to get paid more or get a 2nd job.

I started my diary recently and have spent a couple of days messing about with my spreadsheet (including a most amazing miscalculation that almost gave me a coronary!!)
Alas I must put them away now and revise for some professional exams on Weds and will play again with them after.

I am going to make a lump sum payment just before the recalculation in October and then it will be all systems go!!!