Mortgage Free in Three Yrs

gallygirl

OOOOOOhhhh, me too feeling demotivated.

And grill has packed up so have decided to get a new oven (whole thing was on the point of packing up anyway). So, do I:
a) buy the cheapest electric oven, as I'd like a new kitchen in a few years?
b) buy the cheapest gas oven & scr*w the new kitchen
c) buy the cheapest electric oven & scr*w the new kitchen, I'm supposed to be paying a mortgage off for goodness sake, or
d) do nothing. Sell the house & buy the one I've seen up for sale at 100k more than this one, needing total renovation & probably an extension, but at least it will save me buying a new oven :rotfl: :rotfl: :rotfl: :rotfl: .

Am inclined to go for c, with a as an alternative. D has its' merits though. Def not b. I think.

Managed to pay £20 off this week. Big deal :rolleyes: .

cupid_s

how about
e) buy the oven that you would want when you re-do the kitchen.
it'll be more expensive now but save you getting a different one in a couple of years
or f) manage without a grill (we never use ours anyway), and then reward yourself for making do with a brand new kitchen in about a years time

as for d) that house will probably need a new oven as well - you haven't really though that one through have you?

ailuro2

I was working today, but it's a double edged sword. Double time for working a stat holiday, but the sweat was dripping off of us all because it's so warm in the factory, and seems worse when it's not been this warm since last year/:mad:

Ali- we were in a similar situaiton with the fridge before we did the kitchen. I bought the fridge I wanted on a really good deal before the old one died completely - so there's option 3 - use your George Foreman to grill things, and buy the cooker you want when it's on special offer, remembering Quidco for a few extra pounds towards the new kitchen.:D

Had to get a new dishwasher this weekend, we had the old one for 12 years and it's slowly falling apart. Saw one I liked in John Lewis, free 2 yr warranty, one of Which?'s suggesitons on more reliable brands, free delivery and Quidco of 6% on a £199 dishwasher from John Lewis.:D

I did a free 14day trial on Which to get the info too.;)

On with the mortgage though, paid off another £1000 that will be the last lump sum for a while as holidays and things need to be saved up for.:beer:

gallygirl

cupid_s wrote: »

how about
e) buy the oven that you would want when you re-do the kitchen.
it'll be more expensive now but save you getting a different one in a couple of years
or f) manage without a grill (we never use ours anyway), and then reward yourself for making do with a brand new kitchen in about a years time

as for d) that house will probably need a new oven as well - you haven't really though that one through have you?

e) no good as I want a double oven & I only have a single one at the mo.

f) might try this - they're not very good with sausages though are they??????

d) will be having a range.....

Tell me it's horrible....... please someone. Tell me not to go to see it.....

1274

Well, from someone who's met their target (mortgage as of 1st May - £49,258.40, original target £50,000) here is my motivation tip: try overpaying weekly (1/4 of the monthly overpayment amount or a bit more if you can) then do a top up overpayment with whatever you have left the day before payday. Then check your balance the day after payday and again on the day your normal monthly payment comes out. Whoever used the diet analogy was right - it's a bit like WW or Slimming World - small but frequent overpayments with regular check ins keeps the motivation going because the balance decreases each week (even if by just a few £)

I've set a new target of £30,000. Onwards and downwards.

Kaz2904

Ali, when (hehe!) you buy it, you have to keep that fabulous built in cupboard because it's marvellous!
Of course I would never advocate you buying SUCH A BEAUTIFUL HOUSE but if you NEED to do it then how could we stop you?!

When I did my Nurse training it was a 3 year course and the middle year was the worst ever. We were neither new and keen or jaded but nearing the end.
It's not long now really and we've all done the hardest thing possible and committed to a cause that will be tough going for us but fantastic in the end.
Now my problem is that I started this challenge in January 2006 at £104 per month. I know that (at present snowball) I still have until July 2013. I take heart from the fact that when I started this particular challenge my date was Septmeber 2013 so I've already dropped 2 months.
I come on here for motivational tips and I think we are all getting to the stage where we're yuk and we'll all pull out of it, so Chin up chucks, love Kaz.

Dumbledore55

Another £122 from Quidco - what a great site!, £23 mystery shopping and a few quid from E-Bay - every little counts so I've managed another £500 off the mortgage. My situation now looks as follows:

1st May 2008

Mortgage £92000
ISA £ 9891
Overpayment £ 3000
Balance £79109

Estimated Mortgage Free Date – December 2017

Emergencies/Sales Fund …………………….£369.49
Boots Vouchers (Cashback sites)…………….£51
Argos Vouchers (Cashback sites)…………….£5
Tesco Vouchers…………………….………...£120
Nectar Points …………………………………9032
Tesco Points…………………………………..1473
Natwest YourPoints…………………………..4924

CREDIT CARDS

Capital One – 1% cashback - paid off every month
American Express – 5% cashback until 21/07/08 – paid in full every month

The only bit I haven't added is the amount I've saved in interest paying off the mortgage generally and overpaying. I might put that on next months update but I'm not going to include it as part of my challenge to pay off £15K.

setmefree2

ali007 wrote: »

e) no good as I want a double oven & I only have a single one at the mo.

f) might try this - they're not very good with sausages though are they??????

d) will be having a range.....

Tell me it's horrible....... please someone. Tell me not to go to see it.....

oooo dear - that's gorgeous.:rolleyes: Are you going to go and see it

kiwi88_2

Sorry ali007
Can't tell you it's horrible 'cause it's not Just think of the money you could save by growing your own fruit & veg on that plot. That and the fact it's not near the shops should help with the morgage repayments

hughmungas1986

Hi all,

I've just been onto my mortgage provider to be told that the overpayments I've made in the last few months have reduced my term from 14 years ( start date Jan 2008 )down to 9 years and 3 months as of today. :j

So after a chat with a very helpful advisor we have decided to up the monthly payment by £ 113.34 to £ 600.00 a month. This will take over £ 400 a month off the capital that we still owe. We are hoping to overpay as well as upping the payment.

' Is anyone else going through a stage of finding this challenge quite hard going at the mo? '

Yes, we are finding that most avenues open to us are being exhausted and food / petrol prices seem to be rocketing but the thought of being MF in a few years and not having to worry about finding the extra for the mortgage spurs us on.


Live for today, enjoy yourself, you only get one chance at it !!

hughmungas