2010 MF Wannabes

Leigh-Anne_60

168# checking in

Complete OP for April - £300. Need to get my a*ss in gear, as YTD only on 19%(£950) of my yearly target....... Not good enough!!

pencekeeper

Hi there

Just joined challenge today (well, submitted form anyway), as I'm planning to go MF free mid-December. My job isn't the most secure in the world, so it might not happen, but I've been making good progress so far. I've also started having eye problems in the last few years, which makes working in an office (or most places for that matter) very uncomfortable and my employability may be very limited in the future - so I'm very motivated to be MF and drastically lower what I need to live on and secure ownership of the house outright.

Mortgage balance progress:

Dec 2001 - £49,000
Nov 2006 - £127,000 (bought out housemate of his half)
Jan 2009 - £91,000
Jan 2010 - £27,300
April 2010 - £14,400

Target: Dec 2010

I've effectively used almost all my savings to get the balance down as fast as I can, and am now paying 99p interest per day rather than over £14 in 2007 I'm paying off about £1800 of the capital each month.

Just wish it would come down faster

Baby_steps_2

FirstTimeSaver wrote: »

Hiya Baby steps, I don't have a diary on here, what is a diary?! I'm new to the MSE forums but always wanting to try anything to give me some motivation!

Loads of people have diaries on here showing the things they are doing to be mortagge free, the progress they have made and just showing their journy's.

I find reading them really helps give me ideas on things I can do to reduce the mortgage. Plus seeing how mush other people have paid off really motivated me.

I keep one myself to show the progress i'm makig, get advice and just keeps me motivated. You can find mine here https://forums.moneysavingexpert.com/discussion/2347553 but everyone elses are just listed on the forum.

As everyone else has said I'm only making small overpayment at the moment but every little helps (as tesco would say:D). I have only overpaid £200 but this will save me £1073 in interest:T. How crazy is that!!

curlygirl1971

greent wrote: »

curlygirl1971, I'm with the others - any OP, however large or small, is an OP - and even £1 now saves money in the long term

Cheers guys

I know. Trying not to be too sulky about it and realise that in the grand scheme of things at least I have that surplus to OP and at least I'm making those OP's

black_taxi_2

30. may payment £540

ekroys17

Hi
No. 93 reporting in.
My Overpayment for May is £663.
My mortgage balance is now £111920.95
Total overpayment in 2010 is £4450 - 74% of target of £6k.

Keep up the good work guys and gals!

uzubairu

ekroys17 wrote: »

Hi
No. 93 reporting in.
My Overpayment for May is £663.
My mortgage balance is now £111920.95
Total overpayment in 2010 is £4450 - 74% of target of £6k.

Keep up the good work guys and gals!

You seem to be doing well too. :beer:

fieldofdreams

Number 119 checking in here

£400 overpayment gone in for May. Not much spare cash to throw at the mortgage at the moment as Ive got some hefty car expenses coming up. Also going on holiday, well all work and no play and all that! The plan is to pay another sizeable chunk off in July

Balance 17k approx now, cant wait to get shot of it!

Good luck everyone!

ironman1

£490 overpayment going in tomorrow. Would have been £200 more but put that towards our savings as we are both starting new jobs soon...peace of mind and all that!

sheslookinhot

Hello MFW's, after another payment my mortgage balance is now just £1,657, hard to believe. Three years ago it was over £30k but a concerted drive, helped by all the contributors to this forum, has taken me to the brink of being MF, only 2 months to go.

I am now ready to buy a kitchen with 0% CC's (2), after next payment I will have £1000 left on I/O, so I may just pay a few pounds interest and make large payment to clear my kitchen off. Decisions.


Keep up the good work everyone, you'll get there in the end :T