What was your turning point to become a real MFW?

black_taxi_2

In a James Clavell novel, he mentione F*"k You! money. This being enough money to be able to use this phrase to anyone you work for if you don't like what they are asking you to do anymore.

or this one rosie tiger


or this one

life is like a sh^t sandwich
the more bread you have
the less sh^t you have to eat
:j

VickyA_2

Hi all,

Although we don't actually have a mortgage yet (complete on our first house on - hopefully - 4th December) we want to attempt to become Mortgage Free. We first got the idea on that "Mortgage Free in 2 Years" programme and having been a member of MSE for FAR too long, it seems to come as a natural progression.

Ideally, we'd like to move up the ladder at some point. If we have more equity in our house, then we'll find it easier - as well as reducing the amount of money that we'll have to pay in interest. We used the Egg Mortgage calculator and played around with how much time and interest we can save.

I can't wait to start to pay it off now!

ailuro2

joining the MFi3 challenge two and a half years ago really ade me look at how much we were OPing by, and we started to add lump sums to it too.

DH also got fully on board, now we're just waiting on our redemption figures to come through, the money is in the bank to cover it.:j

improviseadaptovercome

Well for me it was a january "better see what state the moneys in" session. I phoned up the Woolwich and asked some questions, just the how much and could you confirm the rate stuff.
In hindsight I cant believe how simple and naive I was, A lovely lady got chatting to me and explained that my daily interest was £6.89.
I was writing the stuff down in an old hardback excercise book, it was near the phone so I scribbled it down. I even noted the date as I thought the moment I wrote it that I had to do something.
So every day I was throwing more than a couple of beers at the debt. I did nothing about it, then, except mull it over and think about it.

Then it started. It came crashing in my life like a HGV through the living room wall, MFW. I used the mortgage shrinker on the one account website and saw how much I could save and I was officially hooked.

The couch got raided, the premium bonds I had since a kid, and loose change all went into that first overpayment in April. Nothing was safe although im a touch less fervent now. That book is now used daily along with excel...... You know how the rest goes

PhotoMania

I was sent to this website by a work colleague and after discovering it I have never looked back.

Before discovering the forum when we previously had a bit of spare cash we would put a little bit into the mortgage and then treat ourselves with the rest. The purpose of putting it into the mortgage would be to bring the monthly payments down. I didn't actually know I could reduce the term. After visiting the forum and reading the MFi3 diaries I completely re-arranged my priorities. I now try to overpay as much as possible, and the goal is to pay the mortgage off sooner than the 25 year term.
I am currently 26 years old so I am very pleased to have all of this fantastic advice at my age. We will hopefully be mortgage free by 2019! I can attribute all of my motivation all to MSE and the MFW forums!