Mortgage Free in Three Yrs

catshark88

AnW'sMum,

Having had a bit of luck and hit my target, I am now hoping to get the mortgage down to £199,999 by the end of our challenge.

If I change my target on the spreadsheet, will it adversly affect the % progress of our group effort though?

I find the spreadsheet a really helpful way to keep focused but I don't want to hinder our group figs. Afraid that I am so bad at numbers that I can't work this out!

Many thanks!

firesidemaid

i hope to be on target (or over slightly) by april the 16th - i have to say i really do see it as a mini challenge for myself.

now my mortgage is sub 100k i have started imagining it as units of 100 (1000) and even 200 (500) - which is slightly more manageable. also 200 units to pay off doesn't sound that bad if i don't think about it too much:rolleyes:

i had a small bit of good news a couple of days ago. a colleague from where i worked over 3 years ago has said that all staff are owed some backpay for a certain reason. i am owed £517, i just have to write and ask them for it! that's one of those units gone already...

good luck all for the next 3 months x

AnW'sMum

Thanks for the positive comments so far re breakdown of figures. TG I tend to agree that your chart could get over complicated and busy if too many columns are added.

catshark88 I'm all for a bit of good luck in helping to batter down the mortgage I know there are several people who have suggested that they would like to revise their targets and positively encourage it if it means that the mortgage is going to be repaid even quicker. However I propose that we have a 'revised' target column in addition to the original target column. If we were to amend the original target it would indeed alter the groups overall percentage achieved and could give the false impression that we are going backwards and in turn demotivate. By having a 'revised target' column people would be able to see how well individuals have done in reaching their first target and what they are currently aiming for.

I shall have a think about how to display this so that it is easy to understand and maintain May not be able to do this for a few days as I have to finish doing my tax return :eek:

AnW'sMum

sazzacat wrote: »

i hope to be on target (or over slightly) by april the 16th - i have to say i really do see it as a mini challenge for myself.

now my mortgage is sub 100k i have started imagining it as units of 100 (1000) and even 200 (500) - which is slightly more manageable. also 200 units to pay off doesn't sound that bad if i don't think about it too much:rolleyes:

i had a small bit of good news a couple of days ago. a colleague from where i worked over 3 years ago has said that all staff are owed some backpay for a certain reason. i am owed £517, i just have to write and ask them for it! that's one of those units gone already...

good luck all for the next 3 months x

Great idea to view your target in bitesize chunks and fantastic news about the back pay

Dithering_Dad

Thanks TG for your efforts in producing the spreadsheet and AnW'sMum for the excellent statistics. Well done everyone for racking up such a brilliant repayment figure!!

I'm a bit depressed about my figures because I'm behind my target. I should have paid off £49908 by the end of the first MFi3 year and therefore need to find £11,135 over the next 3 month's :rolleyes:), though my disappointment is tempered by the fact that I have managed to pay off £38.5k in one year!

My figures have gone backwards a bit from what is reported on the spreadsheet because I had to dip into my offset to pay my income tax - however, that's what it is there for so I can't really complain.

My pension challenge is going really well though, and barring any stockmarket catastrophy I should be able to save up the £100k.

On other news, it was Mrs Dither's birthday yesterday and I drank a little too much of a beverage brewed from yeast and hops. It has a very strange but pleasant effect during the evening, but an horrendous and unpleasant effect the next day. So much so that I think I might pop off to bed for a little while as I feel a tad under the weather.

Desperate_Housewife_2-2

just popped in to say hi and well done to everyone for the effort involved in paying off such a huge sum of money! It looks good when written down (many thanks Tallgirl).

Sazzacat, I too look on my amount as 'units' and have done a grid which I've stuck next to the computer and cross off a grid everytime I pay off 500 quid now, used to be in thousands but the amount is smaller now and more motivating to only have to pay off 500 to get to cross a box off!

Good luck everyone, keep it up! (not long till payday!)

Superfast_Gran

AnW'sMum wrote: »

Would it be helpful for people to know what they need to repay over the next 3 months so that everyone is on track for their own individual aim? It could be a mini target, especially useful for those with larger targets.

It would be soooo fabby if mine was paid off :j - especially as no sign of any work for me for at least another 3 months :mad: ! However OH is working just about all the hours God sends right now to make up - poor love. Anyway, mini targets would be great - who knows, things may change quicker than I'm expecting Thanks a lot AnW'sMum - your brill :T :beer: :T

comping_cat

Just found out that one of the LOs im looking after will be dropping their hours, from 3 days to 1 day - so a bit of a drop in my wages, so i prob wont be able to make many overpayments, which im really disappointed about.

Fingers crossed that i can take on a new/couple new LOs soon so i can get back on track!!!!

gallygirl

catowen wrote: »

Just found out that one of the LOs im looking after will be dropping their hours, from 3 days to 1 day - so a bit of a drop in my wages, so i prob wont be able to make many overpayments, which im really disappointed about.

Fingers crossed that i can take on a new/couple new LOs soon so i can get back on track!!!!

Well, you can always sell your BLUE IGUANA to make up the shortfall :mad: . (I wanted one )

comping_cat

He is lovely!!! Maybe i should stick him on ebay (and have a search for other stuff to sell) the extra money would def come in handy at the moment!!!