FlashBarry's £97k in 3 years MFW mission!

[Deleted User]

FlashBarry wrote: »

Thanks jeepjunkie!

My OH has recently started talking about private schools too.

I better get saving now! :eek:

Yeah with us being rural we are midway between two state schools. One in a nice market town the other is a zoo. So if she does not get into the former it will be private for us...

Cheers

FlashBarry

Big month this month. The biggest in my life.

My lovely wife gave birth to our stunningly beautiful daughter a few days ago! She is absolutely perfect and we are both over the moon!

In less important news, I also sold the car so that cash has been shared between my offset and topping up my ISA to max deposit.

The total remaining mortgage balance is "just" £42,300.

This sounds far more manageable than the £97k we owed just 16 months ago!

I better go, I have an cuddle appointment to go to.

sweetdaisy

Congratulations on the birth of your Daughter, hope you are all well .

Just reading your diary, we are the same age. I would love to be mortgage free by 2015 but it's impossible :rotfl:, so have to be realistic and would love to be mortgage free before my 40th Birthday in 2019.

FlashBarry

Thanks sweetdaisy - keep up the good work. I think being mortgage free by 40 would be a huge achievement.

I occasionally browse the mortgage section of the MSE forums and I am amazed how often there are posts about people coming up to retirement age and still owing lots on the mortgage.

I am starting to reevaluate how much we are scrimping though. It seemed OK for my wife and I to sit in a cold house to save energy costs, but as soon as baby came home, the central heating came on.

I will see how the next few months pan out then see if I need to adjust the target.

Tilly_MFW_in_6_YRS

Congratulations on your new arrival :T:T:T:T

Best wishes Tilly

slowlyfading

Congratulations on the arrival of your baby girl

FlashBarry

Mortgage day!

New balance is £40,300.

Our little one is keeping us busy, but she is fantastic in every way. A good sleeper too!

My longer term mortgage projection shows that we will only be £500 short of achieving our Mortgage Free in Three challenge, so hopefully we can find the extra cash and achieve it!

My next issue is that my ISA interest rate is about to drop to about 1% in January so I will have to find a new account. :mad:

EchoDelta

Wow that's awesome! The mortgage and the sleep!! :rotfl:

Too bad about the ISA rate. Hope you find a suitable replacement.

FlashBarry

Thanks E-D!

Most ISA rates seem pretty dire unless you lock the money away for 3 to 5 years. The problem is we might need the money if/when we decide to move to a bigger house.

I have been thinking about moving our offset money into ISAs too as we re not saving much on the mortgage as the rate is so low anyway.

I just need to find a decent ISA rate now.

FlashBarry

I hope everyone had a great Christmas!

Mortgage day again - new balance: £38,400. Slowly getting there!

Our tiny 2 bed semi is feeling smaller and smaller, especially as my home office has been converted into a nursery following the birth of our little diamond. My OH and I had a quick browse of the RightMove website.

It seems that to get a decent 3 or 4 bed detached house, it will cost us another £100k. :mad:

HOWEVER, there seems to be a big 5-bed semi near us for just £25k more than our current house value.

We may have to investigate....