Mortgage free by 40?

Retire_at_50

Inspired by lots of other diaries on this site I thought it was time to declare my intention of being MORTGAGE FREE!

My current aim is to do it before I'm 40 (I'm 32 now) and I need some motivation/inspiration to get me going.

I'm going to use this diary to chart my progress and more details will follow in due course.

Looking forward to the journey.

x

Bootomortgage

Good Luck! How are you planning on doing it?

Retire_at_50

Hello Botomortgage. I've just left a message on your diary - I can't believe how similar our situations are!

I'm returning to work in October after a year of maternity leave so hopefully I'll be overpaying with a combination of money saving, meal planning, eBay selling etc. I know it's going to be a hard slog but I want to work part-time or for myself preferably by the time my DD goes to school but I've started with the target of my 40 birthday for now.

x

[Deleted User]

Hey there!!
Would also love to be MF by 40! (or before) 10 years to go!! :rotfl:
40 seems a great aim (as does retiring at 50!)
combination of saving, meal planning and ebay sounds pretty much like my plan!

Retire_at_50

Sounds like there are a few of us with the same aim! Life begins at 40 and all that...

pawlala

I started MWFing when I was 31ish. Became MF at 33 and will do so again when I'm 37 next year. Good luck

caeler

Good luck! I'm 31 and to be MF by 40 is my goal too!

Retire_at_50

Wow! There are lots of us mfw@40 about. I'll be following you all with interest!

First things first, I'm registered with the mfw2012 challenge. My initial goal was £3,000 (set whilst I was on maternity leave). Looks like that wont really be stretching us as weve op'd £700 already and have just over £2,000 in savings ready to pay off.

Seeing as I've started to be paid again (I'm taking my annual leave before I return to work) I'm going to increase the goal to £5,000. That should challenge us just enough...;)

Ra50

Mortgage_Reduction_Novice

Without over paying (which we started from year 1) and staying in the same house, I'd be mortgage free by 50. Already shaved about a year off but is cutting it back by 10 years possible?!

I'm going to check my spreadsheets when I get home - I never thought about or mortgage in terms of my age, more just a race to the finishline.

Retire_at_50

[QUOTE=Mortgage Reduction Novice;55027561

I'm going to check my spreadsheets when I get home - I never thought about or mortgage in terms of my age, more just a race to the finishline.[/QUOTE]

I've got a feeling I'll be playing with spreadsheets A LOT to see if I can knock a couple of months off here and there! I love goal setting and setting myself little challenges so my 40 birthday seemed a great place to start!

Mortgage_Reduction_Novice

Retire_at_50 wrote: »

I've got a feeling I'll be playing with spreadsheets A LOT to see if I can knock a couple of months off here and there! I love goal setting and setting myself little challenges so my 40 birthday seemed a great place to start!

Wishing the numbers on the mortgage balance sheet to reduce and knowing a certain age is your goal... well that's just like hoping to be older! I couldn't do THAT!!!