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Donations to charity on MFW path
molit
Posts: 373 Forumite
Just wondering whats peoples thoughts were about whether you give to charity during your MFW journey, do you still donate, or do you not donate, but promise to do so once you are mortgage free, or none of the above?
Currently in a quandary as I would like to, but also think that freeing myself from the mortgage would allow me to do more in the longer term....just curoius to find out peoples views
Currently in a quandary as I would like to, but also think that freeing myself from the mortgage would allow me to do more in the longer term....just curoius to find out peoples views
No longer an accidental landlord, still a wannabe millionaire:beer:
initiative q sign up link
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initiative q sign up link
https://initiativeq.com/invite/HQHpIjaoQ
As a MFW do you give to charity 33 votes
Yes, it is an essential part of my spend
42%
14 votes
Yes, but just a token amount
42%
14 votes
No, but I intend to once I have paid off my mortgage
6%
2 votes
No, not at all
9%
3 votes
0
Comments
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We still pay a nominal amount amount per month and is classed as normal spend for us. It depends on your make up I suppose - will you feel guilty if you stop paying now to put bigger sums their way in future? Or do you pay a smaller amount now on a monthly basis knowing that you are still making a contribution whilst hammering the mortgage?
I agree, its a tough one, but I think its down to your personality.....
All the best
TCurrent Mortgage: £113,829
Standard MF Date: May 2030
MFW Target Date: Jun 2023
On Target to complete: Feb 20270 -
Weekly to local hospice, as and when to tin shakers, seems at least weekly to various school ones e.g.sponsor forms. This is an area of spending that has remained unchanged since MFW, although reading this back to myself I wonder if I could just.......:rotfl:Completely Debt Free 2009:j
Completely Mortgage Free 2013:j0 -
interesting, and reassuring to see the responses so far, and also how the vote appears to be goingNo longer an accidental landlord, still a wannabe millionaire:beer:
initiative q sign up link
https://initiativeq.com/invite/HQHpIjaoQ0 -
I'm the only cheapskate then!! I don't give to charity and have no real intention of ever doing so. I do intend giving some time going forward but I don't see me giving my money away.
Cheers,
BillyMortgage Free: 28/10/2010Time / Interest Saved: 18.5 years / £61,866.500 -
We used to sponsor a child, which I had to stop about 4 years ago when our debts were getting out of control and wages dropped , I did feel guilty but don't so much now as we still give sometimes when we can and to be honest I want to look after my three first. Although when we are mf and ours have flown the nest (fingers crossed!) we will do more.MFW 67 - Finally mortgage free! 💙😁0
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There are many ways to give. In your salary, volunteering, collection boxes etc. I gift aid any donation I make when possible as that makes sense to me. I volunteer along with my family on a weekly basis and have thought about setting up a few sessions to coach young people on life/financial skills but feel that this may be a step too far. I may want to flatten a few if they take no notice!!!
I genuinely believe we should count our blessing, whatever they may be, and give back when possible. Off my soap box, night every one.2004 £387k 29 years - MF March 2033:eek:
2011 £309k 10 years - MF March 2021.
Achieved Goal: 28/08/15 :j0 -
I haven't voted because i don't know what to select. I just donate maybe jewellery or something to some places that approach me but not all. To me the overwhelming thought is charity begins at home so i will make sure my family is secure before others.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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I give to cancer research as it is a disease that has affected so many members of our family. I do it for me and mu daughters future which is a bit morbid I know but realistic. However when my child benefit disappears in the spring and our pensions go up I may have to think again????:(0
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I checked "its an essential part of my spend" as the money comes out of my account monthly. I also try to give when met with the odd tin shaker or sponsorship requests. However, to be honest, I think it is still a nominal amount (probably amounting to about 1% of my annual take home pay). I feel like I should give more (maybe 5%-10%) but don't feel like its makes sense to do this whilst I still have a huge mortgage and several working years ahead of me to pay it off.0
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I give to charities that mean something to me personally so I send my print cartridges off so the British Heart Foundation get a couple of £s and will sponsor good friends via Just Giving.
- Mortgage @ March 2008: £194,965 ; Lightbulb Moment: July 2011: £164,926; End Date: March 2033
- MORTGAGE FREE: September 2015
- MSE 1p Savings Challenge 2024 #50: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec = £223.84/£671.61
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