Mortgage free three year challenge...

financialbliss

FlashBarry wrote: »

Newbie here, but can I play?

Looking to clear £97k in 3 years.

Is there much admin involved in oficially taking part in this?

12 charts over the course of 3 years - one every 3 months. Just need a balance for each chart, which should not take much of your time at all,

All the admin is on my side of the fence.

FB.

Thriftyknickers

I'm going to be there too - can't wait to register. My aim is to clear our mortgage by my 50th birthday - just over a month after the new challenge finishes, so the timescale for me will be spot-on! Thanks FB!

Tilly_MFW_in_6_YRS

Hi FB, if this challenge starts September/October ish, when it finishes I will only have 6 months ish, left to to :T:T:T

Thank goodness for LBM

Your time and energy in setting this up is very much appreciated.

Tilly x

financialbliss

Tilly_MFW_in_6_YRS wrote: »

Your time and energy in setting this up is very much appreciated.

Tilly x

Thanks for the kinds words Tilly. Woke Mrs Bliss up at about 1am this morning on turning in. Wasn’t in her best books. Turning in sooner / shortly this evening.

Just before I turn in, though I’d mention a little more about the charts.

In the current T2 challenge, each chart is pretty much hand crafted. The objectives, figures and formatting have to be set out manually, which typically takes more time than the entry of the actual balance data itself.

So, for this T3 challenge, I’ve looked at ways I can improve on this and have a ‘Registration’ sheet and a ‘LoggedUpdates’ sheet. Once your challenge type is set, ie '1' for completely clear mortgage, '2' for reduce mortgage or '3' for build up savings and also the objective figures are set, the objective text is automatically build up using concatenation, text and IF logic.

No effort needed from me. It also now handles different currency symbols automatically, as with the current challenge, the formatting and selection of currencies needs to be done manually.

For updates, I’ve tried to make this easier – the data just needs to be entered into the ‘LoggedUpdates’ sheet – none of the data that appears in a chart needs to actually be entered into the chart anymore, so as long as I’m referencing the correct cells in the logged updates sheet, plus I’ve got the conditional colouring formatting done for the percentages, it’s a pretty easy process to roll a chart out.

I’ve already done a test creation of charts 01 to 03 and am going to have a quick go to see how quickly I can create the fourth. The intention is to re-create all the existing charts that are in the T2 challenge, but where possible, do this in an easier fashion.

Think I’ve done enough to roll out a new thread very soon – just need about 30 minutes without interruption so that I can start a thread off and grab 6 or 7 posts required for the various bits and pieces as per the T2 challenge.

Next few days I would have thought…

Get you calculators out and start working on those objectives…

FB.

financialbliss

Just done a quick chart 04 and this took about 15 minutes :j

Ok, only three sample challenge objectives in there, but once the first cell in the column is correct, it's just a case of copy and paste for that column.

FB.

gallygirl

Well, seeing as you've made the assumption I'll be in, I suppose I'd better rise to the challenge FB . I'll have a think about a target and stay away from accidental houses this time .

financialbliss

The third challenge is now open and active:
https://forums.moneysavingexpert.com/discussion/4152769

Feel free to register and provide an objective.

The registration / updates form is in post #4.

Thanks,
Financial Bliss.

greent

Woo hoo! Cheers for that, fb!

SHOULDI

Hi FB,

I would also like to join the next challenge. I am currently #163 in MFi3 T2 and my target would be to completely clear my outstanding amount. Currently irca 88k but will give an updated figure nearer the December start time.

VoucherMan

SHOULDI wrote: »

Hi FB,

I would also like to join the next challenge. I am currently #163 in MFi3 T2 and my target would be to completely clear my outstanding amount. Currently irca 88k but will give an updated figure nearer the December start time.

There's a thread here with registration details
https://forums.moneysavingexpert.com/discussion/4152769