Mortgage Free in Three Yrs

freebird65

Wow - well done everybody - there are some very inspiring figures on there!!! I'm hoping mine will be the same this time next year!

And of course a big thank you to Tallgirl for her efforts in compiling all the figures.

Minniemoocow - best wishes to kitty for a speedy recovery. We're massive cat lovers in this house so I can imagine how upset you must be. Hugs

x

benbenandme

Thank you Tallgirl for this ... I have saved it on my computer to keep me motivated We really do all appreciate the work you are putting in on this, you're a star :T :T Well done everyone for all the money we've saved :beer:
.... when is the next update then guys??? .... I reckon we should aim for one on the 1st January ... any suggestions ???

cazmanian_minx

Over half a million quid in 6 months!!! We rock!!!

Well done everyone, and thank you TallGirl for keeping track of us all :T :T

Caz

AnW'sMum

For this update I have looked at the figures based on two main groupings.

There are three groups:

1. active members, those who have given an update since July 2007 update currently standing at 59

2. inactive members, those who have not updated since July 2007 currently standing at 35

3. dormant members, those who have no given an update for the last two charts. These members have had their figures removed from the calculations so that we have a true reflection of what is going on. Currently standing at 24

So.......

The results for Active members only:

Based on the info DD and TG have in their charts and by my reckoning the total of mortgages plus pension pots other savings of the 59 active participants is £5,720,626.41 with a collective aim to reduce this by £2,524,691.31 during the course of the challenge.

So far the total amount repaid is £452,421.73 or 17.92% of total pledged. To be bang on track at the end of month 6 (ie end of September) we should have repaid 16.66% so collectively we are ahead of target by £31808.16 :j

The results for Active and Inactive members:

Based on the info DD and TG have in their charts and by my reckoning the total of mortgages plus pension pots other savings of the 94 active and inactive participants is £9,358,019.54 with a collective aim to reduce this by £3,854,318.99 during the course of the challenge.

So far the total amount repaid is £566,107.22 or 14.69% of total pledged. To be bang on track at the end of month 6 (ie end of September) we should have repaid 16.66% so collectively we are behind target by £76022.32 :eek:

I am sure if we had had an update from the current 35 inactive members then we would collectively be a long way ahead of target. So if you are one of the 35 please PM Tallgirl with your figures so we can keep track of how everyone is doing.

I shall report each time in the same style. So anyone who did not report in this time and does not report for the next chart will become dormant and everyone that does report will be classed as active. I hope this all makes sense!

34 people so far are ahead of target so an extra pat on the back to you all and special mention to keren29 who has hit 100% of her target, benbenandme at 86.36% and catowen at 83.54% :j:T

Just for a bit of fun I have also looked at how many of these mortgages we would have paid off now if we started with the smallest active mortgage and worked towards the biggest! Those who would be MF now in this scenario would be: sparklymessygirl, Mushy61, freedomgirl, ailuro2, inkie, ~daisy~, cazmanian_minx, Pandora123, Desperate Housewife, Karmacat, amazamum, shazzany, and lunasaver. Only need just under £27k to pay off Tallgirl's mortgage

Well done to everyone, keep going 6 months down only 30 to go

Looking forward to the next update

AnW'sMum

Phew think I'll go for a lie down now

Desperate_Housewife_2-2

Tallgirl.... Thanks for doing the chart, it is looking good

Everybody.... WELL DONE! its amazing to see how much we have collectively paid off.

Minnimoocow..... sorry to hear about your cat, hope she gets well soon

Righto, gather up your strength for the next push, its going to be a bit harder for me what with xmas round the corner, I'm doing my xmas shopping now to avoid the scrum and keep on budget. Also going to buy an Asda gift card for £144 (you can spend £150 on groceries) for January which is always a lean month.
I keep wondering what I can achieve this time next year, this year has gone so fast it won't be long!

Imagine if we hadn't all joined this challenge, we would have frittered the money away on wild living! (well I know I would have anyway) I'd much rather have the mortgage paid off earlier.

Keep up the good work everyone!

TallGirl

Aw'sMum thanks for that - I was considering removing the people who are still on £0 but will wait until next update. If we get more updates over the weekend I will repost it if you want otherwise you will have to wait until January.

financialbliss

Morning,

Well today, we've got 2 years, 5 months and 18 days left, or in pure numbers, 900 days !

Thanks Tall Girl for the update.
Thanks AnW'sMum for the breakdown.

And well done so far everyone.

FB.

dawnylou

Well done all

Karmacat

financialbliss wrote: »

Well today, we've got 2 years, 5 months and 18 days left, or in pure numbers, 900 days !

Wow. What a thought. I'm gonna stick that in my diary. I wonder if there's a computer programme that can tell us 800.... 700...... etc?:D