The Mortgage Free in Three - Take 3 challenge (MFiT-T3)

financialbliss

black_taxi wrote: »

Cant register yet as it asks for value an I won't know it till 12/12/12

Also I will hav two objectives

Clear mortgage within 2 years

Put money into a stock/shares-80%shares/20%bond equity fund isa

g/l all

black taxi,
No rules to prevent you having two challenger numbers. One for the mortgage and one for savings. I've deliberately left you out of the allocation of numbers in case you want two consecutive numbers.

Also, on the updates form, if you select radio button "provide chart update", there's an option to provide a starting value, so you could register with either 'TBC' or an estimate of your mortgage and update later.

FB.

financialbliss

Allocations for this evening...

21. spidystrider. Reduce my mortgage from £74,000to £25,000.
22. AvidSaver. Reduce my mortgage from £195,000 to £145,000.
23. cake21. Completely clear my £65,000 mortgage.
24. foxblade. Completely clear my £28,000 mortgage.
25. Shooting star. Reduce my mortgage from £126,000 to £100,000.
26. Superfast_gran. Reduce my mortgage from £65,000 to £50,000.
...
28. RosieTiger. Completely clear my £11,000 mortgage.
...
48. Trying to be good. Completely clear my £146,000 mortgage.

RosieTiger and Trying to be good - at request I've kept your previous numbers of 28 and 48.

This means there's a block of numbers which are free, If you would like a specific number and it's not been taken, feel free to add a comment in the registration comments box, otherwise I'll allocate the next free number.

Note: I've not linked into people's diaries if you have provided one. It's a bit more fiddly and I want to get the numbers / PMs done first. Will get around to it though.

Will PM everyone now.

Cheers,
FB.

TallGirl

Hello all I want to say thanks to FB for letting me join this one I paid my mortgage off during the original MFI3 challenge but since then not really got my savings underway so this is perfect for me. Will have a think about my goals and fill in the google docs. Everything is so professional compared to the original MFi3.

Lovely to be back and nice to see so many familiar names.

JoeyGrey

TallGirl wrote: »

Hello all I want to say thanks to FB for letting me join this one I paid my mortgage off during the original MFI3 challenge but since then not really got my savings underway so this is perfect for me. Will have a think about my goals and fill in the google docs. Everything is so professional compared to the original MFi3.

Lovely to be back and nice to see so many familiar names.

I've been having a glance through the second challenge to keep my excitement going till December. Does anyone have a link to the first one please? I'm struggling to find it.

Ta

financialbliss

JoeyGrey wrote: »

I've been having a glance through the second challenge to keep my excitement going till December. Does anyone have a link to the first one please? I'm struggling to find it.

Ta

Hi JoeyGrey,

If you go back up to the main MFW board and click on 'views' at the top of the thread list, if will be near the top, as it's one of the most viewed threads in this MFW board.

I'll add links to challenges 1 and 2 to the Q&A section too.

FB.

financialbliss

financialbliss wrote: »

Q. Where can I find the first two challenges?
Each of the previous challenges have their own threads and can be found here.

Original MFiT challenge:
https://forums.moneysavingexpert.com/discussion/435291

Second installment of MFiT challenge - MFiT-T2:
https://forums.moneysavingexpert.com/discussion/1402631

Done

FB.

financialbliss

If you browse back to post #5 on page 1 of this challenge, you'll spot I've now put Chart 01 up.

If you're new to all of this and not seen a chart before (I think) one of most informative columns is the 'shortfall' column. This shows how much ground you need to make up to be on track for that chart.

The percentage to date column is also coloured red, yellow or green depending on how well you're doing.

Won't be publishing the updated chart until 12th March 2013, but thought I'd get an initial version out so you can see what you need to do to stay on track.

Thanks,
FB.

coldcazzie

I've just registered for this too. My target shall seems miniscule in comparison to some of the others here.

I'm hoping to build up our emergency savings from £2000 to £6000.

It's possible that I'll smash this easily, but maybe not, as in that time we will be saving up for and then paying for the rest of the new bathroom, some building work, a new kitchen, decorating 2 bedrooms and possibly some garden renovations too. I'm not taking those savings into account as we'll spend them again very quickly!

I'm also not sure how exactly to go about this. It's a long challenge, but possible that I might only actually start adding to our emergency savings total in the second half of the challenge... fb do you have any thoughts on this. I'd love to be a part of it as it's a great long term motivator, but I don't know about the logistics of it.

Anyway I'll stop waffling now!

black_taxi_2

Thx-FB-I'm keeping it simple one challenge number--targeting clearing mortgage 19k+

When the time comes I can also use this number to switch objectives

liuhutOz

Hi guys
wow 2015, that seemed a long way off in 2000!
I think I will be around 41500 at the end of the current challenge so have put that I want to be at 20k for the end of this one.
I might need to raid the over payments on the UK mortgage to buy a house in Oz, I would not be in a position to do this without the challenge so thanks everyone for making MSE what it is.
Good luck everyone
L x