Ambitious Sue tries to clear mortgage by 40... Eek!

Sue_Donim

Hi fellow MFWs!
2012 is when my life begins :T
Following a Series of Unfortunate Events over the last few years including serious illness, disability, death and divorce I am the not-so-proud sole owner of a £230,000 mortgage :eek:
I also have debts to family members and student loans but as these are under control now and interest-free I want to switch my attention to overpaying the mortgage in an attempt to clear it in ten years time when I'm 40. I have lurked on these boards for a while and picked up lots of hints and tips which I am implementing already. However I have yet to see another thread where the outstanding balance is so high and the income relatively low. What I lack in financial resources I make up for in grit and determination, but will that be enough...?!
All encouragement and positive stories welcome please as I start making a dent in a terrifying mortgage!

dark^knight

Welcome and good luck on your MFW journey.

There are quite a few MFWs with mortgages more than yours. With belief, a positive attitude and loads of hard work and perseverance you'll get there.

^dk^

beth111

welcome to posting & Good luck.

madeupname1

Hello Sue Donim - wow - what a story already. If its any consolation my number is one of those that is larger than yours and no chance of clearing it by 40 Anyway will be reading your thread with interest. p.s. nice to see you over on the 2012 mfw board

newgirly

I love your name sue donim !


That is a whopper of a mortgage, there are other large ones around on this board and also an over 100k mortgage thread.
10 years is not long to pay off such a big balance, but there are great ideas to save in every which way on one board or another, and its often a shock when you see people in real life paying over the odds for lots of stuff that we mse'ers know how to get cheaper.

Have you thought of posting a SOA to see if there is any room for savings to be made, best of luck anyway.

gallygirl

Good luck Sue, you have been through a lot so this next stage will be a doddle :T.

I second what newgirly said, great name

(I thought it was something well dodgy to start with )

Spiggle

Hi Sue,

Welcome and good luck. You certainly appear to have been through the wars and we'll all be here to listen, support when we can and advise if you ask for it.

All the very best and see you on the 2012 MFW thread.

Take care,
Spigs

Sue_Donim

Thanks all, I will post a SOA soon
Yes there are plenty of people on here with mortgages bigger than mine but they usually seem to have a larger income or two earners which i think is the difference. But you might all tell me otherwise when you see the SOA! I'm going into the festive period with a really positive mental attitude and your welcomes are making me feel very motivated this morning! So thank you! :j

Sepa74

Everyone here is in a different situation, but the one thing that we all have in common is that we want to future proof our finances by bringing the mortgage down. Some of us pay of pennies each month, while others are able to pay of £000s, but we all cheer each other on just the same.

Good luck, and welcome to the board

lulabelle1

Welcome and good luck!!
Hopefully the site will provide you with lots of encouragement and motivation to keep going....
Best, L

sweetdaisy

Good luck in your quest to become mortgage free . I aim to be mortgage free in 2022 as well. For me it will be February 2022 (hopefully) and I will be 42 by then.