Mortgage Free in Three Yrs

Mudbath

Yeah - we're down to £102000.08 from £110000 at the beginning of the challenge. I've had a name change so if you don't recognise me you're not going mad! Hope everyone else has had a good month! xx

esthomizzy

Hi All

Sounds like everyone is still motivated which is fab this far through

Last month I paid an extra £50 on top of my normal £200 overpayment and this month I'm going to pay an extra £100 last months was possible because of some quidco payouts and this month an electricity rebate (while changing companies) and the number of thursdays (my weekly budgetting reset day) happens to be 4 this month rather than 5 and I rounded up a bit to make the extra.

Every little helps

have a good weekend everyon
X
Esthomizzy

gallygirl

Am I the only one who though mortgage would be coming out today but it didn't . I was sooooo looking forward to updating spreadsheets, especially as I was working from home so had time to do it 1st thing .

Roll on Monday

Dithering_Dad

I love the 16th of the month (or the next working day after) when I can log on and see what my new mortgage amount is and update my signature.

comping_cat

Mines going to be next Wed or Thurs - the interest comes out the first day, my payment goes in a few days later, although i heard on the news that banks are meant to be speeding payments up, so i hope it will be in quicker now!!!

ailuro2

We are the first of the month, but later is it falls on a weekend, then it's usually three more days before it's updated in the online balance.

Wish it was quicker.:rolleyes:


Good news for the ailuro family's mfi3 quest - I got a new job, same place of work different department!

Bad news - the money is only marginally more than I'm getting now, but apparently the potential is there to gain larger %age wage rises. The little bit extra money will go into the pot though.:D

cupid_s

Congratulations on the job ailuro.
And it's nice to see so many new people here wanting to overpay despite this credit crunch.

It's been a pretty eventful month for us. DH got a pay rise beginning of may which makes us about £50 a month better off. And he's going to apply to move up the pay scale one increment as well. We need it though. Last weekend DHs bike got attacked by a plastic carrier bag and it cost £115 to fix. Not only that but as he usually cycles to work, he had to get the bus for a week costing another £15 on top.

My first month in proper employment ever has gone ok but I'm annoyed that I haven't got a pay rise. We are supposed to be paid on the same scale as the Uni we are affiliated to (where DH works) and these scales go up every 6 months regardless of how long you've been there. But we don't get any of the pay rises that the Uni get which I think is a bit tight. I now have an absolute deadline for getting my thesis done though - the end of June - or I can't graduate with DH and all my friends. And hopefully once I'm Dr Cupid they'll pay me more.

I checked my valued opinions account and have £34 in there as well as about £20 with lightspeed. Which considering I emptied it at christmas and don't spend that much time doing surveys is pretty good. I have also just received £35 in vouchers from various site and quidco have paid me more money. This means I now have over £50 in my paypal account so I can withdraw that and put it toward the mortgage.

ailuro2

Cupid S - is it worth suspending your time spent earning from 'clicking' until the thesis is done - spending time making sure you get the thesis completed to a good standard - as you say in your post, getting the 'Dr' in front of your name should bring in more money, so it's a sprat to catch a mackerel situation / speculate to accumulate.

With my new job I had thought the increase would be bigger. Talking to my own boss, though, (he's been away on training courses so I couldn't really talk to him while I made the decision to take the job) he confirms the opportunity is there to add money a good bit faster than before, so I'll grin and bear it till I'm trained up, then I'll start reminding them of the 'extras' I'm bringing to the post.:D I can't wait to tell everyone I'm moving jobs though, it's all still hush-hush.;)

As for overpaying in the credit crunch - I feel it's more important now than ever to overpay while we can afford to, the way inflation is looking, is it feasible for mortgage interest rates to stay as low as they have been in recent years?
Also the more my family pays off the mortgage, the better position we'd be in if our 'forever home' came on the market at a sensible price sometime in the future.

If interest rates were to go up, we'll all be in a better place than we would have without MFi3.:beer:

tattycath

Well, amazingly I have managed to pay another £40 off the arrears (due to direct debit mess up earlier in the year). So we are getting there slowly but surely. I feel that we are at least clawing our way back now.
Well done to everyone else so far. Continued good luck for rest of mfi3 to all.

Sarah_Williams_3

setmefree2 wrote: »

Good luck Sarah.:T

Thanks Setmefree2 and everyone for the warm welcome.