Mortgage Free in Three Yrs

Karmacat

Thanks freebird - thats the kind of basic directions I need, as well as the example - are you sure you don't know me? :rotfl: I don't think I'm going to be doing this tho - I just checked after the directions you gave (cos I'm really, *really* rubbish at math) and it came to a whopping 3.7%......... I know thats good really, cos its all this calendar year, but .... it just seems such a tiny amount.

Desperate_Housewife_2-2

Hi guys, good luck on the percentages front, I like the idea of having a piccie of the house and colouring it in as you pay off, might print it off and get the kids to do it!

I seem to have come to a bit of a standstill at the mo, done everything that this board suggests (I think) apart from gambling. I seem to have come to a dead end on the stoozing front too as the last 2 cards I have applied for have been dead ducks, RSPCA card only offering a credit limit of £750, and mint which charges a BT fee but then charges interest on the fee which I thought was outrageous so cancelled it immediately on principle. I still have Capital One though and will continue with that till next year.

Another thing, Christmas is nearing so I have been battening down the hatches for that, visited the Christmas thread and got some tips from the lovely people on there and saving up a bit for January. Can anyone think of anything else I could be doing? I have just had a financial advisor round and in the process of changing policies, pensions etc so trying to balance out the finances and get a good broad range of investments rather then just concentrating on the mortgage payments, also got the kids to think about and uni fees etc will be needing to be paid before you know it but hopefully will have mortgage paid off by then.

Thoughts on after the mortgage is paid...I have decided to charge myself 'rent' as it were and put this money into a cash ISA. Then follow Martin's savings fountain guide to build up some reserves in case we need a new car etc...

FreedomGirl

Hi everyone,

Ali007 - it's http://www.call18866.co.uk/

I think there are others out there that give you 4p connection fee (i.e. slightly cheaper), but being honest, this one works really well for us and I have the OH trained to use it. Our phone bills have gone down by loads (I'm guessing at least £20-£30 month)

Super_fast gran - oh b*gger, talk about putting one's foot in it re your MS Sorry...thanks for taking it in good humour

Tescos = money sink. Karmacat - I like it I am going to get myself a sink icon and put it in my signature and from next month declare how much money I give to the Tescos sink. Feel myself wincing already :eek:

Have a good weekend

FG

angelavdavis

Well, I got a new contract so will have the funds to offset as I had planned when I remortgage in November.

Superfast_Gran

FreedomGirl wrote: »

Super_fast gran - oh b*gger, talk about putting one's foot in it re your MS Sorry...thanks for taking it in good humour

Have a good weekend

FG

Don't worry about it - I try not to. Let's face it, if you read my last post or so, I have more than enought to think about forby myself - lol. Fortunately OH has such a dreadful sense of hunour that we laugh a LOT in our house :rotfl::rotfl: . Only way to go really. Have a good weekend too.

Superfast_Gran

Thanks everyone for your comments and best wishes - it's great to have THAT kind of support - and we do all want it as well as need it don't we? Yes I am stressed, severely, but it's not any one thing. I promise I'll go to the quack next week - my Mum made me :rolleyes:

As far as the challenge goes, I simply haven't had time to do anything more than muddle through recently but I did make this month's overpayment:cool:
I have funds that need to be tucked away for January when I can make a bigger overpayment to make up for the months I didn't. So, that's me for now, but, please everyone keep posting. A lot of the messages make a difference to my day and thereby my effort. Thanks everyone who helps :T :T :T

Karmacat

I'm going to make an overpayment tomorrow - I'll miss out on this chart, but don't want to put it in early cos its not true. This will be the second tranche of the money my mum gave me (ye gods, here's me knowing that I'll retire *fairly* soon, and I'm still talking about money my mum gave me. What would we do without mums?

Superfast Gran - you sound amazing, with a very full life to keep track of. Glad you'll be going to the quack next week

esthomizzy

I have had a great piece of luck. I work at a uni and a friend knew that I was skint and she put me onto a colleague of hers who has a visiting professor coming over who needs somewhere to stay for 6 weeks. To my surprise and amazement they've offered me £1000 for him to use my spare room for 6 weeks (I live in Zone 2 London that's why it's high but I certainly didn't think they'd pay that much). I'm overjoyed. I would like to put this money directly aside for my mortgage (ESP for this challenge) but my BF is less overjoyed about the idea than me so I might have had to agree to use some of it on a holiday next year (hopefully he'll forget that). Either way I'm chuffed to bits especially as because of the rent a room scheme it's tax free too. Someone else on MSE gave me the idea for renting a room to uni visitors but I've forgotten who now so if you are reading this then thank you too

Apols for dual posting (if you also read the daily spends on the DFW board that is) but I'm so happy I wanted to tell you guys too and I don't know if you lurk on there.

TallGirl

Great news the percentages are going on the chart ready to be posted Sunday if they get done in time so any late comers want to come in?

financialbliss

@Tall Girl

Thanks for the percentages - hope I've not caused too much trouble.

For the percentages, I know it's already been discussed, however I used formula:

(MFiT start amount – current balance) / (reduction required)

Or using my last chart numbers:

73,217 – 70,091.65 / 73,217 – 35,000

ie 3,125.35 / 38,217 - which is 8.18%

Think this is right.
FB.
PS - Ouch. I need to reduce my balance by 38,217:eek:. No wonder it's only 8%