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

TheWebDev

Although I'm currently in the green, I suspect I won't stay there very long, as my house needs almost everything doing to it. I suspect I'll end up spending too much on home improvements to be able to overpay every month. Hopefully getting a lodger will help mitigate this though.

Suffolk_lass

Kwaker_Knacker wrote: »

Just wanted to say thanks to FB for all the work on the chart etc.

Also, this is my first MFiT challenge, but to all fellow yellows and also any reds, always remember it's MF in 3 years, not 3 months, so stick in there guys, we'll meet our targets by the end. Can be easy to get down if you ain't in the green, but hopefully it'll come.

Hang in there

K_K

black_taxi wrote: »

KK -- I was red 3 years before this months green

Thank you both - as one of only four people who has posted my first quarter update in the red (at time of checking) as opposed to the no update majority of reds, I really appreciate the encouragement. This is my first challenge and I do have a plan, but it's a slow start, with other things getting in the way a bit.

Other people's anecdotes are really encouraging and some ideas in there too.

Well done FB especially
SL

Needhelpsaving

Suffolk_lass wrote: »

Thank you both - as one of only four people who has posted my first quarter update in the red (at time of checking) as opposed to the no update majority of reds, I really appreciate the encouragement. This is my first challenge and I do have a plan, but it's a slow start, with other things getting in the way a bit.

Other people's anecdotes are really encouraging and some ideas in there too.

Well done FB especially
SL

Hi SL,

Don't get down hearted about being in the red - I am sure that we will all have our good & bad months over the course of the challenge.

Mine is only green through sheer luck (and quite a small target in comparisson to others) - I am not anticipating it to stay that way! :rotfl:

Good luck to everyone on the challenge and thanks to FB for keeping us all in line

diadeb

Dash, I've somehow missed the updates for this thread and hadn't put the date in my calendar. Note to self - quickly do finances, update Outlook calendar and post an update back here asap with the result!

Job done; £5660.95 offset, but forgot to check by how much the actual mortgage interest had come down, as we do small overpayments every month as well as offsetting in a savings account. Well at least that means that it will be even more next update!

Welshlassie

Whoops was thinking it was 21 March I needed to update for. just sent update though and going to be green, yippee.

newbaby

How the updating work? Forgot to do it.:mad:

financialbliss

newbaby wrote: »

How the updating work? Forgot to do it.:mad:

Back on page one of this thread (post #4), there's an update form. Fill that in and your value gets magically entered into the charts. Actually, it gets written to a holding sheet within the suite of spreadsheets, which I periodically check and apply to the appropriate chart.

And periodically, I'll publish a spreadsheet, such as chart 02, which I've just done:
https://docs.google.com/spreadsheet/ccc?hl=en_GB&key=0AnhcWfGMRVgddE1iTjMwaFQ3Y3EtOS1GQ0NkUnUwdUE&single=true&gid=6&output=html

I'll also get around to updating the first page with this link. Should be able to bookmark the above link - it shouldn't change unless Google decide to be devious with Google Docs.

Already 16 people in the "green zone". Don't worry if you're not. I know I'm probably going to be on the starting blocks until I've cleared the credit card debt.

Gally - look away now Column Shortfall shows how much you're away from being in the green zone for chart 02.

Also applied a few updates - keep 'em coming folks.

FB.

gallygirl

financialbliss wrote: »

Gally - look away now Column Shortfall shows how much you're away from being in the green zone for chart 02.

Did someone say something

Just worked out I'll have slipped a little further behind by next update. In fact, I won't be in the green until June 15. So, as long as I'm behind until then, I'll know I'm on target :rotfl:.

Alion

Thank you FB as always - your charts get better and better!

I'm amber for the first time, but I expected that. We're ploughing money into the renovations which will be completed this summer and once we've done that we can look back at overpaying again. It's reassuring to see we got so far with just our repayments though

TallGirl

Sneaks in....................just bought a new car a bright red brand new Fiat 500. Took out the finance as it works out almost the same so no dent in the savings for now. You can pay it back early and only pay 1 months interest as penalty.

Best of all got £500 more for my part exchange than I paid for it last month.

Get the car next week, they were desperate to make their March target.