Best Things about being Mortgage Free

crusty_toenail

For me:

Extra money per month that I can:

1. Take holidays

2. Save up and buy a car outright

3. Not have to worry about changing interest rates.

4. No more letters from my lender re: statements (all that interest being paid off in black & white)

5. Save some money for the kids futures.

6. Walking around MY house, touching the walls, glazing at it in a loving way thinking 'ITS ALL MINE' 'I OWN THIS', yippee.

Anyone else have any to add to the list!!!

(BTW I'm not mortgage free,:mad: I'm not rubbing it in, but I could imagine these points would be good perks)

wynnvegas

With you on pretty much everything but the username!! :eek:

1, 2 and 3 are all on my list as are the following:

• Buy and fit a new bathroom and downstair toilet - month 1 and 2 of being mortgage free
• Buy and fit a new kitchen - month 3, 4 and 5 of being mortgage free
• Seriously start planning for retirement before 40!
• Kick off my own business now that I have the comfort of knowing that the risk of not making ends meet is minimal
• Fire off to Dubai for a month to celebrate my 30th birthday - in the Burj Al Arab - month 7 of being mortgage free!
• Then maybe think about kids...

crusty_toenail

Thanks for that wynnvegas, rest assured my crusty toenails will get on my list for getting a good seeing to also, also teeth whitening and general pamper treatments!

I'll be mortgage free at 33........ has a nice ring to it.

Anyone have anything to add to the list??

[Deleted User]

Definitely with you on 2, 3 and 6.

Aside from that, our list looks astonishingly similar to that of wynnvegas...!

co123456

LOL... I just went outside and felt a brick. Not sure if the neighbours saw me.

'One less direct debit'.I have three D/Ds (Phone/Gas/Elec) so I look at my current account balance, subtract £85, and think 'mmmmm... the rest is mine'.

oh, and....

'No more spreadsheets'

Cookhamite

We're mortgage free. Now looking at borrowing same amount (as mortgage) again for an extension!!! It'll never end...

george_jetson

I would add a general sense of wellbeing that comes with the knowledge that I can never be turfed out of my house. I keep "problems" at work very much in perspective and don't allow my job to stress me out.

A big +1 for "Take holidays", I've just booked my 4th trip to Vegas this year. Sadly staying at the humble Flamingo, and not the palace (not a typo!) that inspired wynnvegas's screen name!

StuartGMC

cheeryoleary wrote: »

oh, and....

'No more spreadsheets'

Surely not; how will you be tracking your savings and investments?

We're very close to MFD, mortgage payments today leave us owing just £10350 and it is 100% offset

For me, we'll be focusing upon:
1) Saving and investing about 50% of net income, allowing us to build cash plus develop the portfolio to start generating income from when we're 55 to supplement income from working, which I may do until 60 or do consultancy beforehand - I have a choice :j:j

I will focus my energies on learning more about investing etc

2) Be able to provide a base for daughter when she is 18 (6yrs from now) whether for university or travel etc;

3) Buy a Jaguar XF hopefully in early 2011
(Cheery - my present spreadsheet allows me 5 more cars between now and when I'm 65, each costing about £30k at present prices, you see, a spreadsheet is for life, not just the mortgage :rotfl::rotfl:)

4) Short breaks each year which we've not taken whilst clearing down mortgage, and maybe more exotic holidays for the family (although we did Mexico this summer...)

5) Less stress in terms of what may happen if I lose my job, and as George says, enjoy the job rather than having to do it

6) Be able to afford permanent income insurance in case ill health prevents working (couldn't afford before)

gallygirl

StuartGMC wrote: »

3) Buy a Jaguar XF hopefully in early 2011
(Cheery - my present spreadsheet allows me 5 more cars between now and when I'm 65, each costing about £30k at present prices, you see, a spreadsheet is for life, not just the mortgage :rotfl::rotfl:)

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

With me there is just one thing on the list:

Freedom to make choices :j

Queen-Bee_2

Well I am a long way from being MF, but on my list if things to look forward to include:
- Never having to worry about loosing my home again
- Being able to save for my retirement
- Being able to make modest investments
- Being able to spend more on house renovation
- Being able to spend more on self-renovation!
- More holidays, less stress and very much as Gallygirl says above...
... MORE CHOICES...
QB

wynnvegas

george_jetson wrote: »

I would add a general sense of wellbeing that comes with the knowledge that I can never be turfed out of my house. I keep "problems" at work very much in perspective and don't allow my job to stress me out.

A big +1 for "Take holidays", I've just booked my 4th trip to Vegas this year. Sadly staying at the humble Flamingo, and not the palace (not a typo!) that inspired wynnvegas's screen name!

Nowt wrong with the Flamingo. I don't know if I'll ever get the opportunity (see also annual leave entitlement) to manage 4 jaunts a year but we make it over for a few weeks every summer and have a blast. I'm tempted with the offers at Aria for summer 2010 - 2011 will be our first Christmas trip to Vegas and we're taking a few friends and family with us to celebrate properly.

Cheers,

Billy