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

Kaz2904

Oh bless her, that's so lovely. Warms the cockles of the heart doesn't it?

black_taxi_2

pep talk

started re-reading MFW in three from beginning

.i forgot thread started JAN 2009.how did you all have the patience to wait 12 months before it began.

if you feel progress has slowed ---try to find your first post

heres mine

147 checking in

latest member

its great making 12/12/09 the start date

gives me time to get everything in order

emergency fund/tax

i know this is the biggest financial challenge ive faced

but im up for it

goodluck everyone

thx for your time an effort FB :T

01-11-2009, 5:22 PM Serious MoneySaving Fan


Join Date: Sep 2008
Posts: 766
Thanked 2,075 Times in 425 Posts



147 checking in

latest member

its great making 12/12/09 the start date

gives me time to get everything in order

emergency fund/tax

i know this is the biggest financial challenge ive faced

but im up for it

goodluck everyone

thx for your time an effort FB :T

01-11-2009, 5:22 PM Serious MoneySaving Fan


Join Date: Sep 2008
Posts: 766
Thanked 2,075 Times in 425 Posts



147 checking in

latest member

its great making 12/12/09 the start date

gives me time to get everything in order

emergency fund/tax

i know this is the biggest financial challenge ive faced

but im up for it

goodluck everyone

thx for your time an effort FB :T

01-11-2009, 5:22 PM Serious MoneySaving Fan


Join Date: Sep 2008
Posts: 766
Thanked 2,075 Times in 425 Posts



147 checking in

latest member

its great making 12/12/09 the start date

gives me time to get everything in order

emergency fund/tax

i know this is the biggest financial challenge ive faced

but im up for it

goodluck everyone

thx for your time an effort FB :T

black_taxi_2

oops---post overkill

Trying_to_be_good

But point made, black taxi - thanks for helping me back to then, and realising how far I (and the rest of us) have come since then!

RosieTiger

I wonder whether the people on the original MFi3 challenge could offer any advice on this too?

It is a hard slog at this stage and sometimes seems like a long way off, but as Black taxi says, looking back makes for very nice reading! I have just realised that we will probably better our original thread titel of MFi5 !!!

greent

Woo hoo!!!!:j:j:j:j We're in the green for (I think) the first time ever

Thanks fb for all your work here :D

adwat

Hi All

I've also found it a bit hard going recently. My problem has been the major expense of replacing my car (had no choice in the matter because I need it for work - otherwise I'd have kept the old one which was perfectly good - for another few years). This has meant extending my finishing date into Feb next year, whereas I'd hoped to have finished by now. On the plus side, I've only four more payments to go and the outstanding balance is only £8k which is a long long way from £165 when I first took it out. Only problem is I have to keep stopping myself from wishing these last few months away!

chickadee

I just had to share this with someone, but it isn't really something I want to share with my friends.

My balance has just gone below £10k. That's right - I now have a 4-figure mortgage!

I'm now at £9,277 after having made a whopping overpayment of just short of £1,500 in September. I managed this because I had some money in a savings account that I didn't need for my holidays (which was the original purpose of the savings account) and I had some expenses from work that I claimed which mounted up to over £300. I have also had a really frugal month, with no major expenses to pay out.

The money was in a low-earning savings account that had been attached o a regular saver on quite a good rate but when the 12-month period is up they move it into a measly interest savings account so I decided to withdraw it and put it into my One Account as extra mortgage payment.

I have now extended my finance spreadsheet up to May 2012, when I expect I will have paid it off in full!

Like adwat, I'm finding it a bit hard not to wish these last few months away when I will be mortgage free. I'm 44 so it feels like a really liberating thing that I will have no mortgage very soon.

cha97michelle

Congratulations Chickadee. Fabulous how your hard work is paying off. It must feel fab to be below £10k, and see that end in sight.

We have spent a fair bit this month, but I am ahead, and also, I'm only 32, so not feeling the pressure as much to get free compared to living a bit. We've put a bit extra in our ISAs though, as its earning 0.8% more than mortgage interest. I'm getting my head round not just doing the mortgage thing and trying to get the best value for our income.

twinklie

Ok so my latest update is in my signature.