Mortgage Free in Three Yrs

drenbo

Marvin,

Let me know where your blog is as I would like to join.. Maybe help with it as well.. spreadheets for all members and so on..

Cheers,

drenbo

Thanks Kaz,

6 months ago I would normally just make minimal payment to my mortgage but thanks to this tread I started to think about my money. I will change the lender and reduce the interest that way and use extra money for my offset to reduce it even further..

Thanks to all who come with good ideas and suggestions..

Cheers,

[Deleted User]

drenbo wrote: »

Marvin,

Let me know where your blog is as I would like to join.. Maybe help with it as well.. spreadheets for all members and so on..

Cheers,

Done as requested

financialbliss

Progress update time...

Mortgage today is 70,091 ! I'll also PM Tall Girl with details.

I'm reasonably happy with that. Was hoping to be at the 70k mark at the end of this year, but now looks like I should be around 69,750.

FB.

TallGirl

Thank you for all the updates it is a real pleasure doing the chart when people are so good and include quest number and current balance thanks for that.

Just to clarify the current balance I am putting on the chart includes all overpayments plus normal contractual payments plus any offset savings you want to include. If you are on an interest only or only get your statement once a year feel free to estimate.

I agree with AnW'sMum I think we all welcome new people on here but to change the original start and end time would in my opinion be a shame. I would like to see the chart include a column stating how far people have come in terms of reaching their 3 year goal. If we extent the 3 years the chart would be come meaningless in my opinion.

Anyway lovely to see people doing so well however some people are not off the starting blocks yet so I hope they still want to be part of this.

Had a good trip to Cornwall off to the Midlands today which is another 400 mile round trip back Friday evening. Still a bit fed up with my job but heyho we all get days like that. Take care all.

Dithering_Dad

I'm also with AnW'sMum and Tallgirl, I think we need a fixed date to work towards. It doesn't really matter if we don't actually become Mortgage Free by April 2010, at least we will all be Mortgage "Free-er". We can always start a new "MFiT" quest at the end of this one.

I'm hoping to have cleared my mortgage by the end of this "Mortgage Free in Three (Yrs) quest and will be thinking about the next financial challenge ahead "Millionaire in Months (5000)" maybe? :rotfl:.

Karmacat

Dithering_Dad wrote: »

I ... will be thinking about the next financial challenge ahead "Millionaire in Months (5000)" maybe? :rotfl:.

Ooh, yes, I'm up for that. Um...... hang on. I've just played with the calculator on my trusty little laptop. Noooooo!!!!:eek: Thats, like, a lot of years!!!!! I wanna be a millionaire before that :rotfl: :T :rotfl: :j

DickDastardly_2

Well I think I will have to take our name off the free-in-three challenge as I dont think we can do it. I was up till 2am this morning crawling through our money and to do it I would need to earn twice as much and live on less still!:eek: I am not sure that's going to happen!

Either way, the result of this forum is in just a few weeks:

Drastic cut-back on spending, especially 'grey spending' that loose cash that just dissapears on nothing.

Really marked down our grocery bill which was spiralling upwards.

Cut out unnnessecary memberships and stuff like that, cancelled direct debits and minimised outlay to what we NEED rather than what we WANT.

Really sat down now and thought our financial goals out which is still a reduction of the mortgage as a priority.

TBH although we have a young family and one income, I feel positive that we can markedly improve our situation and reading about some people's horror stories on here makes us thankful for where we are.

I will adjust my sig to reflect the above and perhaps join in with the others in other threads on the mortgage-free-in-three-wannabe, wannabe's!!;)

Can I also just say THANKS for the encouragment to get ourselves sorted and at least concious that we CAN get rid of the mortgage before time, rather than dream about it and rely on a implausable lotto win!

LJD1_2

I know how you feel DickDastardly, we seem to be taking one step forward and about 15 back. In the past two months we've had to replace a washing machine, a fridge freezer, a vaccuum cleaner, the carpets thoughout downstairs (not finished this yet so just have bare floorboards!), the exhaust on the car and a leak in the car's radiator. This means we've overspent rather than overpaid. Mind you, i'm not too disheartened because prior to becoming debt free we'd have been in serious trouble but instead we're just skint. Hoping to catch up a little but realise we won't be paying 40 grand off the mortgage in 3 years but hopefully will still pay more off than we have too xx

Karmacat

Hey DickDastardly - don't leave! Downgrade your goal if you want to, but it seems to me the real meaning of this thread has become to get us to our own goals, to be mortgage-freer, rather than mortgage free. I know thats my goal - my fantasy is more, of course, but thats my goal.

Can you restate what your aim is?