📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

2011, the year of doing something about it!!!

nictry
nictry Posts: 29 Forumite
edited 7 July 2012 at 10:18PM in Mortgage-free wannabe
«13

Comments

  • nictry
    nictry Posts: 29 Forumite
    edited 7 July 2012 at 10:17PM
  • SeriouslySeekingtoSave
    SeriouslySeekingtoSave Posts: 509 Forumite
    Wow those are some goals but you obviously have a very high income so I would totally go for it! I guess that whatever you earn the temptation is to spend a matching amount. I was 30 before the penny really dropped that I didn't have any savings at all.
    Mini Challenge - Halve 2nd Mortgage by Year End
    Starting: £10,000 Currently £8,142.62
    £3,142.62 to go!
  • nictry
    nictry Posts: 29 Forumite
    edited 7 July 2012 at 10:17PM
  • SmlSave
    SmlSave Posts: 4,911 Forumite
    Part of the Furniture Combo Breaker
    Welcome to MFW nictry :) Good luck with your goals
    Currently studying for a Diploma - wish me luck :)

    Phase 1 - Emergency Fund - Complete :j
    Phase 2 - £20,000 Mortgage Fund - Underway
  • nictry
    nictry Posts: 29 Forumite
    edited 7 July 2012 at 10:17PM
  • cha97michelle
    cha97michelle Posts: 5,818 Forumite
    Part of the Furniture
    Sorry to hear about the redundancy. All we can do is try our best in these difficult circumstances. I hope you find a new job soon.
  • dimbo61
    dimbo61 Posts: 13,727 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Look at all the rates for your debts and clear the most expensive first!
    If you overpay the offset mortgage and build up savings in the offset account upto £16K MAX you can always ask for a " mortgage holiday" if you have overpaid BIG STYLE
    I am so far ahead in our mortgage payments that we could have a 10 months break without going into arrers
    Good Luck
  • nictry
    nictry Posts: 29 Forumite
    edited 7 July 2012 at 10:17PM
  • katsu
    katsu Posts: 5,023 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    I think dimbo is referring to the effect on claiming benefits if you have more than £16k in savings.
    Debt at highest: £8k. Debt Free 31/12/2009. Original MFD May 2036, MF Dec 2018.
  • nictry
    nictry Posts: 29 Forumite
    edited 7 July 2012 at 10:16PM
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 351.7K Banking & Borrowing
  • 253.4K Reduce Debt & Boost Income
  • 454K Spending & Discounts
  • 244.6K Work, Benefits & Business
  • 600K Mortgages, Homes & Bills
  • 177.3K Life & Family
  • 258.3K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.2K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.
Update Your Picture