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

Kaz2904

The biggest positive is that DH is excited that we don't have long to go. The biggest negatives: The kids are very expensive! It's amazing how much brownies, beavers, aikido x2, one term of guides overlapping the brownies and music lessons actually are :eek:. Add into the mix that DS just keeps growing and I'm going to need to replace all of his clothes again soon. Nightmare. DD is slower at growing at the moment, thankfully but she is into adult shoes and has been since she was 8. Hence the cost of hers are scary. Food and fuel bills are going up too. We have just started another fruit and veg box scheme with the hope that we don't start getting rotting food again in November. It's a lovely sunny day here and I have run around and opened all of the windows to try and clear the damp air. We don't have the dehumidifier at the moment so need to keep on top of this. Managed to catch the heating this morning because the clock was wrong so it didn't come in. Am thinking about reducing the temp in the morning as DD starts school earlier in the morning so we all leave home earlier. It may as well not click in in the morning. That way, I can get them to open their windows when they get up and I can leave them open until I get up in the afternoon (when I'm on nights) or when I'm freezing (in the day!). Dry air is so much easier to warm isn't it?

black_taxi_2

i only got central heating 3 years ago---best investment i ever made.its a 1 bedroom flat.but the joy of instant heat an hot water is great.

last winter was the coldest up here scotland--but once in flat it felt like bermuda.

i remember the days of a white meter heater an cant beleive how i lived thru winter.used to sit on couch with duvet cover.

i hav heating on highest level during winter months an my gas/elec is £400 a year cheaper.than with white meter.

as for inflation---when i go shopping---its unbeleiveable the high cost of food

im single an feel for you with families--must be difficult times for you.

as for challenge----im glad i joined---think i will hav 60% of mortgage paid off 12/12/12

adwat

Hi All

November looms and I've updated my balance to £6.3k... three more payments and the mortgage is finally tamed. Roll on February!

cha97michelle

Kaz i feel for you with the kids. My two both seem to be having growth spurts again too, so as well as needing new clothes, are always constantly hungry and it is a battle to keep them filled. They are only 3 and 5. If this is a taster of the teenage years, i will be glad not to have a mortgage to pay off.

Trying_to_be_good

I've four step-children, aged 10 to 14, and they're all growing really fast, but having proper grown-up conversations and getting them to develop their understanding the world of finance beyond pocket money is good fun and rewarding.

Making good progress on the mortgage, in for the long haul!

clearing_out_my_pockets

I'm afraid I'm going to have to bow out of the challenge. Feel free to fill my spot with someone else. We will still be making mortgage overpayments, but nowhere near the level we'd need to make to reach the goal we set ourselves.

Sorry!

COMP

tattycath

clearing_out_my_pockets wrote: »

I'm afraid I'm going to have to bow out of the challenge. Feel free to fill my spot with someone else. We will still be making mortgage overpayments, but nowhere near the level we'd need to make to reach the goal we set ourselves.

Sorry!

COMP

COMP, sorry to read you're finding it tough and won 't be able to make the larger overpayments you thought you would be able to. Equally, don't feel you need to drop out either, times are tough at the moment and this challenge has motivated me more than i would be if I hadn't joined. Just because you don't think you'll meet your target, don't feel you've failed-just look at the positive side of how much you have overpaid. HTH

TheBees

Hi everyone - TheBees #80 dropping in. Sorry we haven't been around much lately. I've sent an update and am pleased to say we are ahead of schedule by about £800 probably because we changed to repayment earlier in the year.:j(PLEASE COULD YOU ADD £877 TO OUR OVERPAYMENTS?)

Unfortunately, it's highly unlikely that we'll make it to our target next December. :mad: This is mainly due to the following -

a) we decided to book a family holiday for next summer as our DS17 will hopefully be going off to uni next year and this will probably be our last family holiday.
b) If he goes off to uni, then there will be lots of expenses related to this
c) Our general savings have really dropped lately and need to be built up again.

However the good news is that we will come out of our high fixed rate next April which will bring our repayments down and the chance to overpay a small amount maybe.:j

Anyway we're not planning to drop out of the challenge and will remember to update in December.

The Bees

clearing_out_my_pockets

tattycath wrote: »

COMP, sorry to read you're finding it tough and won 't be able to make the larger overpayments you thought you would be able to. Equally, don't feel you need to drop out either, times are tough at the moment and this challenge has motivated me more than i would be if I hadn't joined. Just because you don't think you'll meet your target, don't feel you've failed-just look at the positive side of how much you have overpaid. HTH

Whilst I understand where you're coming from, I would feel like I've failed. We've just added money to our mortgage (the fee for the new mortgage) and we've decided to try for a baby next year, so we're putting our 'overpayments' to one side to use as mortgage payments while I'm off.

gerbiljo

Good luck with the future plans COMP , but remember no one fails in this challenge, anything u do even if you only become more aware is certainly beneficial