MFW newbie....

[Deleted User]

Hi BabySteps
thanks for the advice! yes Ive seen a few people post about surveys etc and wondered about them...
I will certainly look into it, need to build up the savings first tho, however tempting it is to put it all into the mortgage i have literally no "cushion" at the moment if anything happened

cheers

setmefree2

and Good Luck!

[Deleted User]

thought I would post an update for this month!!

am gonna put all my OPs into an ISA for this year I think and then anything extra (other than the emergency fund which I need to build up as may well change my job in the next 6 months or so) I will pay into the mortgage at the end of the year....

The good news is I checked the mortgage balance yesterday and its actually under the 130K mark!! hurrah! :beer: I can see what people say about becoming addicted to this all! :rotfl:

clearing_out_my_pockets

Hi, just thought I'd pop in and wish you luck on your mortgage free journey! I'm also relatively new to the concept so will watch your diary for hints on upping income, etc...

dimbo61

Do you only have one property ?
Is it let out and is therefore a buisness?
You can put the interest payments each month against your profit upto the amount you paid for the property!
If you have concent to let from your lender then check how long that lasts! Most now limit it to 3 years ( think CGT) so good time to sell.
Build up savings for the TAX bill.

[Deleted User]

clearing out my pockets
hi!! Im not sure Ive got many great tips yet! there are loads of people on here doing really well though
In terms of what Ive done so far I have done a budget and really had a look on where I could cut down on spending...mainly food shopping, mobile phone contracts etc..
also digging out all vouchers I can find...clubcard ones, free haircuts etc - anything to save money! ;o)

dimbo
yes I own one flat and live in another with my partner so was just wondering about the CGT if we sell mine..

[Deleted User]

Okay...
MFW activites for the week...
have kept on at pack lunches so no paying out for food
went to a friends for coffee yesterday instead of out to a coffee shop
listed 17 or so books on amazon...we shall see if anything comes of that!

mummyofonechild

Hi and welcome to MFW Land

2012 is my target too. I think it is realistic but we never know what is around the corner - just as well sometimes. I too take packed lunches to work. Think I must save at least £10 - £15 a week that way. I have just realised how much we are overpaying on our buildings and contents insurance by just leaving it on auto renewal. That is my challenge to myself this week - to sort it out and then over pay the difference in premiums towards the mortgage.

Good Luck with your plans
MOOC

Courgette

Well done, the YoungOne - you're off to a brilliant start. It's amazing really what's achievable once you put your mind to it :beer:

[Deleted User]

Hi MOOC
you are right, we never know what could happen, I think that is part of why I want to get as much security behind me as possibile! (tho not to the exclusion of having a life!)
realising how much I was spending on stuff I didnt need (magazines, pack lunches, chocolate, coffees) was a real wake up! am hoping I can get really focused on this after xmas by which point I will hopefully have the "emergency savings" pot up to scratch

Courgette - yep I am usually quite a determined and focused person once I decide I want something! its just remembering the bigger picture when I have a "stuff it , I wanna do this" moment...