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

black_taxi_2

won't be making single figure mortgage,start of next month,killer car mot,annual service,£700+,springs!coils!brakes!etc,but I will deffo hit target dec!so will start next year!single figure mortgage.

black_taxi_2

iPad glitch

FreedomGirl

Hi,

Well, after my "hiccup" attempt with trying to reduce my purchase price by ordering a second version of the dress, I sort of redeemed myself by taking the second one back (along with the rest of the internet shopping) within the c/card period so I didn't have cash flow issues.

The dress itself went down well at the corporate do. I know it's not the thing to have an "investment dress", but when it helps me keep my high paying but not-secure-at-all job because it helps me make engaging conversation with the clients (you guys must wonder what line of work I am in ) it's not a bad thing. Will recycle for the works Christmas party...

Re hitting the target, I have now got ~£15k cash ready to put into the pension, which is half way towards the net cash of £29695 which I need to then put into my pension to reach my SIPP target. However, am parking it in Premium Bonds (10k today, remaining 5k) for the moment - will put it in in later in the tax year (see comment on instability of job) - and of course have to pay the tax in the monthly paycheck - again, see comment on job instability - before it is "worth" paying it in wrt the 40% tax refund.

Don't know why I didn't think of parking the cash in PBs before instead of my so-close-to-zero-interest-rate-as-might-as-well-be-zero current account, I really am not a very good MFiT3-er

Now need to make sure I have the share/funds shopping list plan sorted for when QE ends.

And also to think about what sort of "holiday" we should look at having. As you might have guessed, my job means I am time poor and a hangover from when I and the hubby were unemployed together for 12 months and thus really stony broke means that if I spend the cash I really want to have a good return from it. Holidays really don't yet cut it - you think, I spent a grand on that and where was the value - and even if (which I haven't yet found the approach) the holiday itself is good value, I think "was it really worth the time?". I like just hanging out at home and having nice food cooked for me by the hubby and enjoying a nice glass of wine. I have the same problem going to a restaurant - you think that money could have bought so much more and nicer food out of a supermarket...

Anyway, it makes it almost impossible to hit the "that was so worth it" feeling from either going out or going on holiday.

But I think I might have found an alternative - a spa break. (I know, this is not the typical MFiT3-er approach). A friend suggested we go together, and bought a package for one night, with money off. When I arrived, I pretty soon discounted the option of £60 for a manicure etc. and realised there was unlimited exercise classes, pool, steam and sauna and great food all included. I ended up using a voucher to extend for two more nights and returned back at work looking better than I had for months and months. Still have the glow at the end of a rough week ! It worked out at ~£150 night, and I did have two "not cheap" treatments but they were ones that worked and boy did I feel pampered. So I think I have hit the jackpot. And it will help me handle the stresses and strains of that job.

I'll report back in before the end of the year if I get a PB prize.

FG

ps Kwaker-Knacker - that's great news (and a great name . And no-one thinks you are gloating - we are all either remembering the fab feeling of our first MF day or thinking, hey, K-K did it, so we can do it too (i.e. you are inspiring them) ! This is a great board :j

FreedomGirl

Hi,

Well, that's another 3K in to PBs...2K more and then I have hit my pensions MFiT3 target until April 2014 (assuming I keep my job).

Now just need to focus on saving up for the next annual season ticket (4K) and then another 6K for contribution to hubby's ISA. Naargh...

So 12K and 5 more pay cheques to go. Not going to be super easy especially as my contribution to the house bills is going up as hubby starts paying in to his pension...

Sort of like the idea of having PBs as well as a cash float as well. Maybe I should add that to my MFiT target ? Will reflect on it...

FG

black_taxi_2

ttt page 6

reduced mortgage £310 nov

last month most of annual yearly bills paid,will break into single figures last payment of the year come dec

good/luck all

liuhutOz

Hi guys Just a little update from me. My mortgage has hit 35,000 pounds. We have made our last payment to it as we have put the house in the UK up for sale. I will just be paying the interest until it sells as the tenant has moved out. The good news is that the agent took five people around the place yesterday, but because of the time difference I am waiting to hear how it went.
Once the house sells, we will be buying a house in Oz, I am very nervous about this as we will be looking at a mortgage approx. $300,000, a lot more than the current one we have! OH and I are having discussions about the size of it, and how long we take to pay it off.
I have to say that I would not be in the position that we are today without the MSE boards. Firstly to help us save the money to move to Oz in the first place, and then the MFW guys that inspired me to overpay the mortgage, which has helped us to build a really good amount of equity that we can bring over here and start again.

I will be back with my new mortgage and a new aim hopefully in the new year :-D

Thanks again and good luck with the over-payments

Cheers
L x

brizzledfw

liuhutOz wrote: »

Hi guys Just a little update from me. My mortgage has hit 35,000 pounds. We have made our last payment to it as we have put the house in the UK up for sale. I will just be paying the interest until it sells as the tenant has moved out. The good news is that the agent took five people around the place yesterday, but because of the time difference I am waiting to hear how it went.
Once the house sells, we will be buying a house in Oz, I am very nervous about this as we will be looking at a mortgage approx. $300,000, a lot more than the current one we have! OH and I are having discussions about the size of it, and how long we take to pay it off.
I have to say that I would not be in the position that we are today without the MSE boards. Firstly to help us save the money to move to Oz in the first place, and then the MFW guys that inspired me to overpay the mortgage, which has helped us to build a really good amount of equity that we can bring over here and start again.

I will be back with my new mortgage and a new aim hopefully in the new year :-D

Thanks again and good luck with the over-payments

Cheers
L x

Great news. Really pleased for you..well done

black_taxi_2

past last big milestone today-£9999--now SINGLE FIGURE MORTGAGE:D

lower balance 12th dec

had a decent lunch restaurant to celebrate £25

home made bread/soup
venison/mashed potato/cabbage
pear crumble/cream
latte coffee
drink

ps--slowly but surely does it

g/l all

Gizmo247

Well done Black Taxi:T

Not long before the monthly interest is less than the celebrationary lunch bill.:beer:

gallygirl

Brilliant BT, well done :j.