Mortgage Free in Three Yrs

gallygirl

angelavdavis wrote: »

Good luck jb. I have never regretted taking voluntary redundancy years ago. I was able to pursue different career options as a result that have given me a much richer experience than had I stayed. In my opinion it makes you less afraid of change too.

Slightly different situation for me, but earlier this year, having paid off my debts and 'only' having mortgage to pay (plus 2 kids at uni :eek: ) I was in the position to change roles at work to a job I love, even though I'm £300 net worse off each month.


Jonesy Bonesy I'm sure you're doing the right thing. Given a choice, I always go for the 'action' rather than 'inaction' choice. If you don't you WILL regret it, if you do there's a good chance you WON'T regret it, and you won't always be saying 'what if?????'

Good luck!

Move_To_Portugal

Hi all

I'm not sure if this book has been mentioned but 'Your Money of Your Life' by Dominguez and Robin is an excellent book. It makes you really evaluate your time vs money earned. Its my favourite personal finance book and it changed my whole way of thinking about what I want from life.

mtp

catshark88

Bonesy, it sounds as though you are making fab use of a really great opportunity.

Life is too short to stay doing something you don't enjoy, if you have a choice.

I'm biased though as I took voluntary redundancy a few years ago. It felt like I was selling a job that I didn't want any more - a bit like getting rid of your clutter on ebay (but better paid!). Have never regretted it.

Good luck!

OverlandLandy

With all these books floating around we should, in true MSE style, be doing a book swap club!

Bonesy- good luck to you. I'm sure that you are doing the right thing.
I keep looking back and thinking about all the things that have meade me truly happy in life and very few are directly related to spending big wads of cash!

I'm also under threat or redundancy at the moment, so I know how you feel. It was something that I was fearing, but if it happens....so be it. I will follow your lead and go and do something that I want to do (I just need to figure that bit out). I'm in pretty stressfully job on a 1/2 decent wage....but I know within myself that I cannot keep doing it or it will burn me out. I have been with the same company for 21 years so the payout would be reasonable I guess and I suppose my pension would be frozen?

I'm also having a eBay de-clutter - so far I'm up to £250+ and I have not missed any of it! In fact I'm looking around thinking what else can I ebay or freecycle....

I have a small house in the countryside, with decent neighbours, a wood burning stove instead of a 32" Plasma TV...... and best of all I am really going for being MFi3 as it would be fantastic to be in that position again.

Keep going everyone...... just think about being able to CHOOSE what you do rather than feeling you MUST do things just to keep paying your mortgage!

setmefree2

Good luck overlandlandy:T Yes we must all keep going. The SMFs already been at this for 5 years - 5 more to go:rotfl:

sparklymessygirl

:j Hello all - so today I went down to the BS and handed over the last few hundred pounds (£403.86!) to become mortgage free. No _party_ no fanfare, no certificates - the chappie apologised for it being so dull! I have now celebrated with a cup of tea and a huge brick sized bakewell tart which I have manfully managed to struggle through

I have arranged to have the deeds sent to the branch for me to collect (I thought that they would already be there waiting for me as I had warned them I was paying it off today :rolleyes: ). Then apparently the BS write to me and the Land Registry to confirm that they have no longer have any interest in the property - I don't know if the Land Reg write to me to confirm they've removed the charge or whether I should /could ring them to check that this has been done (anyone know?).

Keep on going chaps! (As I've said before I'm a bit embarrassed at how small my mortgage was and how long it has taken me to get my act together and get to this stage - so I really do admire you for tackling such large sums) - I guess I'll join the cheerleaders now :T

Sparkly

benbenandme

Well don Sparkly :T :T :T Hopefully there will be lots more posts like yours over then next couple of years on this thread
Yesterday I went to the building society and paid off another €635,which should hopefully bring mine down to about €54k, so I have paid 10% off since I moved into my flat 12 months ago :beer: I've got 12 months left till my fixed rate runs out so I'm gonna see how much I can chuck at it

Desperate_Housewife_2-2

:beer: YAY!
That is great news, I am so happy for you, it makes me realise that it is achievable and we have all been feeling the drag of 3 years lately on this board so its great to hear someones success story.

I am feeling much more positive this week as I can see my balance coming down, its slow but its happening.

A big well done from me!

What are you going to do now?

comping_cat

WELL DONE SPARKLY :j
- really give us more encouragement to keep paying it off when you see someone achieve their mortgage free dream!!!

Im still a long way off, but i will keep going!!

sparklymessygirl

Desperate_Housewife wrote: »

What are you going to do now?

Well , I'm glad you asked - I have asked for a reduced contract at work, dropping from full time to a .6 contract. This is v. scary! :eek: I have not had an answer as there is a lot to rearrange - it would mean a lot of shifting of other people's responsibilities around and a lot of co-operation from colleagues so not very straightforward (just the nature of the job). In a way I'm scared they'll say yes and on the other hand I'm scared (for my mental health!) if they say no!

I have calculated that I could live on 60% of my salary with some significant cutbacks although the current increase in fuel and food prices is worrying. What I could not do is afford to move and as I do live in a hovel that is something of a concern...but I am tired of my job and I am trying to convince myself that going part time might leave lots of time and energy for fabulous new opportunities (some might guess that I went to an Abraham-Hicks workshop last weekend )

Sparkly