2012 mfw

dark^knight

wow...that is impressive.

I am hoping OPs will magically appear...just kidding :rotfl:

I am like you, I know I will need to work harder in 2012.

black_taxi_2

nice write up curley girl

im 50 single----never saved in my life--just took out loans
my property is worth about 100k--a nice 1 bedroom flat
im looking forward to the day im MF
next target will be full yearly cash isa

this site has totaly changed how ive thought about money an gives you incentives with others on here--not giving up---you get good/bad months but as long as yearly balance is coming down you will be ok.

if i never started this MF journey id still owe 48k with loans on top
financial freedom will change my life

Jock_Tight

Can you add me to the list please!

I need to OP by £5400 during 2012 to be mortgage free by the end of the year.

Cheers,
Jock

UnionGirl

Can I be added to the list please?

Target of £1,500 O/P for 2012

madeupname1

Welcome to Drewwa #62 (target £30,000), Jock_Tight #63 (target £5400) and UnionGirl #64 (target £1500)

Look forward to catching up in 2012 - only 3 weeks to go!!

Dragonrider

I was no.95 for 2011, and would like to aim for a target of 2400 for 2012.

Thanks!

Dragonrider

LavenderBees

curlygirl1971 wrote: »

So, you don’t have to go as far as doing a SWOT analysis! – but what’s your plan for 2012? Are your OP's going to magically appear or are you going to work at it?

Very thought provoking, thank you! A lot of what you have said, resonated with me

I'm on my own (cue violins ), so whatever I do is entirely up to me, both a liberating & lonely place to be in equal measures, I think.
My LBM was last year when I read some MFW postings and realised...shock horror, you can pay off your mortgage early. Oh, how I wish I'd known this 20 years ago! Ah well, better late than never.

Currently (and I've been lucky to be in this position for a while), I have some savings (which are going in my MFW pot), and no debt other than the mortgage.

I'm not convinced of my job security, so would like to pay the mortgage off to keep a roof over my head should the worst happen. Unless something unforseen happens, I think my job is ok until 2014, after that is very uncertain.I want to be ahead of the game with no mortgage and some savings to tied me over. If the worst doesn't happen, then I'm quids in :T.

So, the painful things - No holidays (and this is the gal who saved to go abroad 3 times a year....gosh, that gal has certainly disappeared for a while anyway), eating out a lot less, using the car less on weekends (in the countryside so little public transport, so am generally at home most weekends, and used to be out & about), no clothes buying. I also keep the heating off or only on low....now that's becoming more painful as it gets colder, but I well recommend a hot water bottle stuffed down the jumper to warm you through

The less painful things - I took on extra responsibilites at work, and from Jan have finally been rewarded with a reasonably decent pay rise (4.5%) - has taken over a year though.... Also, my company car is due for replacing in March, and taking a more economical, eco friendly car, means a saving of around £200 a month on tax and extra payments, so again is giving myself a pretty decent payrise. I'll also hope to save money on diesel with this new car and intend to car share when I can for work, so saving more again. All this extra will go straight in the MFW savings pot :T

Other less painful things - Savings for next year's birthdays etc is via Topcashback, surveys, Halifax £5 a month reward, shop & scan - first year I'll have really concentrated on this and have a target of £200...hope to break through that though, if poss.

I'm also shopping around at all the supermarkets in my area...makes a big difference to go to Lidl first, then go for the remaining shop at Mr Ms or wherever. All within walking distance of each other so no extra diesel needed.

One thing I've found works wonders is to explain to family and friends what I'm aiming for and why. They may not be inclined to do this themselves, but most have been supportive and at the least, have been understanding when I suggest a cheaper outing to save money.

My family have also been very good for birthday and (I hope :rotfl:) Xmas, and bought me things I've asked for that I need...again saving me paying out myself. One lovely friend gave me her old breadmaker when I mentioned I would love one...again, she knew it would save me the outlay, and save me money in the long run with hm bread.

The downside to this is the tedium of shopping around so much to get the best deal, and the boredom of yet another evening at home, as well as missing the excitement of holiday investigation (especially with friends). The upside, though, is seeing my mortgage come tumbling down and knowing I'm only months away from paying it off if I decide to (if the penalties aren't too punative). I'm probably more likely to keep the money in a savings account while I save up an emergency fund again..then pay it off.

So, I reckon, 2(ish) more years of living carefully, and a bit of pain to get through it. I know I could be more frugal, but feel life wouldn't be worth living if I shave off more without actually really NEEDING to. I don't want to be too obsessive :rotfl:

Well, I've rambled on enough, thanks for reading if you've got this far, I'm sure every one of us has sacrifices being made. Good luck to every one of us!:beer: . I hope this thread will help me stay focused and achieve the hard target I've set myself.

I'm off to bed to dream of being mortgage free - hold onto that dream folks, it will definitely be worth it! :T

curlygirl1971

Fantastic post Lavender Bees. Thank you for sharing!

I think many of us have had a LBM at some point.

I feel your pain with the heating. I switched & fixed (and earned cashback) in August. I live in a drafty old terrace. It has double glazing, I've replaced doors, had the loft insulated, new boiler. Single wall construction so can't insulate those. It gets very little sunlight during the day and the house is Cold. Cold Cold Cold. Laptop on your knee is very warming. I do have the heating on but I try to be careful with it. Sometimes I just get home and boil myself in a hot bath instead and then I don't need it on or just go to bed and watch iplayer on my lappy instead!

After 2 decades of being independant and wishing I had someone to occcasionally fall back on I'm now in the position of finding it hard to relinquish some independance

Shopping around - have you tried mysupermarket.com to compare prices. There is also a phone app - and I can be frequently found in Tescos scanning goods to see if Asda/Sainsburys are offering better prices - I love some of the looks I get. Although this only works on brands common to different supermarkets and only those that offer home deliveries.

Family are fully supportive. I'm more careful with what I tell other people - I've had mixed reactions in the past from friends (guess what - now ex-friends) who when aware I've been saving up (which is what I did before MFW) have suddenly thought I could get all the beers in - so to speak - or seem resentful of my ability to save despite a lower salary than them. I was even asked to make a substantial loan to someone who was already in non-mortgage debt to the tune of £60K. So I pick and choose who I tell very carefully.

Anyway I MUST GO TO BED and dream of my lovely spreadsheets :rotfl:

Spiggle

Dragonrider wrote: »

I was no.95 for 2011, and would like to aim for a target of 2400 for 2012.

Thanks!

Dragonrider

Hi Dragonrider,

You are listed at No.65 for 2012 with a target of £2400. Welcome and good luck.

curlygirl1971 wrote: »

... So, you don’t have to go as far as doing a SWOT analysis! – but what’s your plan for 2012? Are your OP's going to magically appear or are you going to work at it?

Brilliant posts curlygirl and LavenderBees! :T I will have to reply (not with a full SWOT analysis) later when I have a bit more time. Nevertheless, great thought provoking stuff from you both, thank you.

Updated to here.

See you later,
Spigs

Mortgagefreeby50

Hi folks!

Please can I join in?

I would like to aim for a target of £3000 over payments by the end of 2012.

Looking forward to hearing about our journeys!

Mfb50 x