Mortgage free by the time I'm 40

Clare_king

Hi, this thread is really inspiring, I took out a longer than normal mortgage - 30 years - so I could afford to get on the property ladder, so I'm really looking to bring it down.

LittleBit_2

Thanks We're not even back on repayments yet, as I'm still on maternity leave, so technically I'm not even making overpayments, they're just 'payments' :eek: It still helps though and when I'm back at work we really will be ploughing every spare penny in.

LittleBit_2

A teeny little OP today of 75p

Queen-Bee_2

LittleBit wrote: »

Well for every £3 I pay, I'm taking about £8 off my mortgage

Hi there - congratulations on starting your journey! How did you calculate the £3/£8 stuff above? I ask because it's very motivating to see it set out like that!
QB

LittleBit_2

Queen-Bee wrote: »

Hi there - congratulations on starting your journey! How did you calculate the £3/£8 stuff above? I ask because it's very motivating to see it set out like that!
QB

TBH i didn't calculate it, I pinched it off someone else's diary who had a similar interest rate to mine so it might not be totally right, but is something along those lines.
Maybe someone else can help work out the 'actual' rate

LittleBit_2

Not updated for a while...

We've been away for a few days, and although we were pretty good budget wise, we did end up spending £90 on clothes for the boys :eek: We got 2 coats for DS1 though, and lots of other things they needed.

Not made any OPs as we've not been here, but today have made 2, £4.94 and £1.41

There is an NCT Nearly New Sale coming up next weekend too, so I'm going to try and get some clothes for the boys in the next sizes up, and get some warm clothes, i,e, fleeces etc for when we go camping in the summer.

I'm also on the look out for a bike for DH and I, and 2 child seats, so we can take these camping with us too.

To try and cancel out all this spending I'm going to try and sell all my maternity clothes and the things DS2 has grown out of. There is a table top sale coming up near us, but they're charging £10 for a table :eek: I think I'm going to try Ebay first for the better branded things and then see how much I can get rid of...

LittleBit_2

Yippee I've just rung NR to get our balance, and it's now £173,821.20
I know it's still loads, but as I'm on maternity leave and we're on interest only, I think it's great that we've paid off £1139 in 7 months :j

BlueCow1975

Well done!! That is absolutely amazing!

I have just popped onto this thread for a nosey as I feel paying off my mortgage early is an impossible task. Your attitude is really challenging my perceptions and has made me think twice..................little steps really do make a big difference.

Off to do more reading on the subject lol!

cha97michelle

LittleBit wrote: »

Yippee I've just rung NR to get our balance, and it's now £173,821.20
I know it's still loads, but as I'm on maternity leave and we're on interest only, I think it's great that we've paid off £1139 in 7 months :j

Well done. We will all get there one day. Glad to see you have some ideas for clothing the kids cheaply. I get so many hand me downs from my sisters as they both have boys too, and it all helps. They have so many clothes. :eek: The only thing i need to buy really is shoes and socks for them usually plus anything i like. We may need to buy DS1 something smart for a wedding in May though. I might just get him a shirt to team up with some nice jeans though.

setmefree2

Yay :j well done :T:T:T:T