Abyss's Mortgage-Free Journey

Abyss

Hey, Deleted_User.

Thank you! Life with the new arrival is wonderful - we are very happy. If a little sleepy!

It has indeed seemed at times like an overwhelming debt, especially as I initially took it on on my own, but I do feel we've been lucky to have some things go in our favour (e.g. interest rates), and I am so determined to get this mortgage paid off, it is easy to go without the small things I view as unnecessary.
DH works in computer games so again we are lucky that he doesn't buy many - he borrows them from the staff library - saves us a fortune! And DVDs, we have the TV package that means we get a lot of TV shows on catch-up, and good films come on a lot, so we record them and watch at our leisure - again, saves loads on buying DVDs, which I have never really seen the point in, as I rarely watch anything twice. Will probably buy a few DVDs in a few years when DS wants to watch children's films over and over - but hopefully by then we'll have paid off this mortgage.

Hope your savings are going well.

Abyss

Still here! Not managing to find much time to post, having a baby to look after, but have at least been chipping away at the mortgage, and we go into February with a debt of £40k, so am really happy about our progress. Had a frugal Christmas, stayed in on NYE, and have been watching the pennies in general, so pretty chuffed.
February 1st will be our last payment at the low rate (0.84%), but then come March, the higher rate is only going on the £40k (well, about £37K by then) so the monthly automatic payments are actually less. We will still be paying off as much as we can on top of that, so I am hoping we'll clear the debt by this time next year, as long as we are really careful over the next 12 months.

SeriouslySeekingtoSave

:TWow that's great! You've done really well . I'd love to have my mortgage go down as quickly but I'm a single girl on not too high an income so unfortunately not. Not that I'm complaining - I've done pretty well and I think it's much better to focus on the positives of what you've done rather than sigh over the fact that you couldn't do more.

Abyss

Thanks, SStS. Every penny counts, I didn't manage to chip away at my mortgage at the start at all (although I was relatively frugal all the same, so in a way, I did!). Keep up the good work - it is soooo worth it.

rich744

I think you've done amazingly!!! An Inspiration to all the MFW's.......

R.

Abyss

Didn't think it had been quite so long since my last post - time really does disappear when you have a baby. He is seven months old now, I can't believe it's gone so fast.

Anyway, in the last month, DH has totally jumped on board :j (he was all for the money-saving, but he let me deal with it) and is finding more and more ways to save, and better still, MAKE money! We've had a major de-junk and he's sold many of his computer games and books, and I've sold some furniture (as much for the cash as for the space it's freed up for the mobile baby!), and we've made a great dent in the mortgage. We are now down to £31,750, which is a great feeling. :j

Abyss

Well, it's been ages since I last posted - DS is very mobile and all over the laptop whenever I try and use it. But I wanted to log my update!

Last week, we had gotten the mortgage down to £14k. Very happy with that!

Then work made some redundancies.
It is bad news, and good news!

Bad news: I got made redundant.
Good news: My settlement from the redundancy has paid off the mortgage. DH and I are MORTGAGE FREE! :j:j:j Several months earlier than expected. What a feeling.

The bad news isn't even bad, as I wasn't planning on going back to work anyway, as I am having such a lovely time with our baby.

We will probably have to get a mortgage again when we move, which is looking like 2013, but we are going to save hard until then, so it's as minimal as possible.

Good luck to everyone on their MF journeys.

Twiddy

Fair play to you Abyss, every cloud and all that!!

Congratulations to you and your family!!!

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j

:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

:money:

All the Best
T

:beer:

Abyss

Thank you, Twiddy, and thank you for the jumping and clapping!
Will still be living like we have a mortgage to pay off, as I'd rather have a high deposit for the next place, than spend longer paying a new mortgage off, but to have paid this one off is indeed a great feeling.

All the best to you and yours too.

Secret_Saving_Squirrel

Congratulations, I am delighted for you,

Squirrel