Mortgage Free by 40 Challenge!

sweetdaisy

Thanks for setting this up Welshlassie. According to the chart I need to be paying over £2,300 a quarter to be Mortgage Free by the time I'm 40 - wich is in 9 and a bit years. Won't be able to pay this much a quarter but hoping that my savings will increase so that I can offset more off the mortgage and reduce the interest paid.

Can't wait to see the progress of everyone. I am determined to pay my mortgage off 6 years early and looking forward to this challenge.

chirpchirp

Well I will never clear mine by my 40th but it will be interesting to see how much I can reduce it by. I will need to pay more than 5k a month!

MarieAAP

WOOT just earnt 10 from mystery shopping, into the pot it goes

kiwigirl

Hi - you might as well count me in - think I'll need a large windfall to accomplish but will give it a try. Good luck all.

Welshlassie

MarieAAP wrote: »

Blimey, seeing all your targets, makes me feel I shouldn't have joined

Your £5k / quarter, is my whole mortgage

M

Of course your should have, however much you've got to pay off you've still got to pay it off.

Welshlassie

miss_corerupted wrote: »

is it possible to move my date to something like 37?? as i don't think it's going to be a challenge for me, i want a bit of a challenge!!!

I'll move it to whatever you want, just give me the date.

Welshlassie

Welcome to the following new recruits:
27 ixwood
28 sdd7677
29 shangaijimmy
30 kiwigirl

miss_corerupted

haha just looked at what you posted


hmmmm i'll think about and tell you when i'm 37!!


i'm going to save up when i'm out of debt and go see my brother in america!!

pencekeeper

miss_corerupted wrote: »

haha just looked at what you posted


hmmmm i'll think about and tell you when i'm 37!!


i'm going to save up when i'm out of debt and go see my brother in america!!

I'm hoping I'll have paid the mortgage off by the time you're 37 - but I'll consider it Plan B for you to pay it for me if you have your 37th birthday before the balance reaches £0.

Please reply in the next 30 seconds if you do not wish this to become legally binding.

pencekeeper

pencekeeper wrote: »

I'm hoping I'll have paid the mortgage off by the time you're 37 - but I'll consider it Plan B for you to pay it for me if you have your 37th birthday before the balance reaches £0.

Please reply in the next 30 seconds if you do not wish this to become legally binding.

Great thanks - it's very much appreciated.