MF at last! Now for the £300,000 'Mansion' Fund.

earthgirl

Hello all,

After seriously starting to overpay our mortgage of £154,000 in October 2008, we managed to declare mortgage freedom yesterday! :j:j:j

We bought our house for £175,000 in 2003. We have since built a double garage, extended and have a new kitchen diner, bathroom and have decorated throughout.

I owe a big debt of gratitude to posters on this board who have always been so helpful and encouraging. My diary for that mortgage freedom journey is here:
https://forums.moneysavingexpert.com/discussion/1209451


We used a lot of savings to do this, and I worked extra jobs, as well as my full time teaching job, in a supermarket, in my own tutoring business, and we upped our income where we could, selling things on ebay, doing over time at work etc. We also cut down our spending dramatically.

Our new challenge is to save another £300,000 within the next 9 years, so that we can buy a bigger house with land. In North Wales the prices are reasonable, so I have nick named my challenge the Mansion Fund, as this, plus the equity in our current house, should be enough to get us somewhere fabulous, even if we also have to get a small mortgage in 9 years time.

So splitting down my target into chunks, I hope to be able to save £33,000 in 12 months.

The reason I have set the target to a reasonable amount is that we have a little baby, and hope to have another. Childcare costs are our major expense, and I would also like to work less in the future.

We are going to go on a nice holiday next year, and we never scrimp on health or well being. Anybody who read my other diary will know we scrimp on everything else!!!!

So I will ponder my strategies over the next few days and will post my plan soon.

Any help, advice and support is always welcome!!

Tesco_points_addict

OMG AMAZING

Well done:T



TPAx

yukkibear

Good luck in your new journey.

adwat

Fantastic! Congratulations, that's a huge overpayment! and good luck with your savings fund.

Froggy-G

Good luck on your new mission Earthgirl!! You will get there in no time at all!! What an inspiration!!!!!!!!!! :D:D:D

alfiesmum

Absolutely fantastic. Congratulations. This has put such a smile on my face! Gives me hope it can be done. Well done on all your hard work, you deserve the lovely feeling it must give you! Nice one. :beer:

wantabetterlife

OMG earthgirl, that is truly amazing :j:j. Your diary was the first one i started reading on these boards over two years ago and i remember you working in the supermarket and have always admired how dedicated and focused you have been...it has really paid off.
That is a massive amount in a very short space of time.
I cant wait to hear all your new plans and have subscribed

cha97michelle

You have done so well over the couple of years i have followed you. I can't wait to see what comes next. Inspirational lady. :kisses3:

Ayeshalush

:beer:Congratulations - that is fantastic news!

Good luck with your next target - though I don't think you'll be needing it:D.

A
xx

SAMMYE_2

World done Earthgirl! Living the dream! Your an inspiration x x x

SmlSave

I love the new diaries name

Congratulations again EarthGirl