Mortgage Free in Three Yrs

kiwi88_2

(Creeps in hanging head in shame)

I am still here even though I haven't updated. We're going backwards re the morgage and off the top of my head I think we're about £4000 behind our scheduled repayments. We have the Virgin One which has really helped us the last 6 months but it means any interest cuts aren't passed on according to the letter we recieved so we're still paying 6.75%!!

On a more possitive note I have payed off OH's bank overdraft of £2000 @ about 27% APR plus monthly fees!! Thankfully I did it just before crisis hit.

I don't have a job anymore so am in the process of looking but there isn't a lot around so I'm cracking on at home and trying to budget, bulk buy/cook, save pennies, earn vouchers and make pressies for xmas this year so we don't spend lots. Hopefully that will help.

Congratulations though to everyone else for keeping going and I hope to have better news after xmas!!

Trying_to_be_good

Kiwi88

Sounds like you have your head screwed on right, and getting rid of the overdraft will help loads for your future.

We've always said we're in this for the long haul, it's about plugging away at it when you can (and ensuring things don't spiral when money is tighter).

Keep up the money saving, and stick around with us on this thread!

ailuro2

setmefree2 wrote: »

LOL:rotfl: - but what happens when the cost of food starts going down?:rotfl:

Well then it'll be time to invest some more for future price rises - chocolate is an especially good commodity.:j

On a more MFi3 note, I just stopped our overpayments going into the mortgage every month, it makes more sense to stick them in a higher interest account - many a meikle maks a muckle is the Scots ways of saying it - or every little helps as Tesco put it.

Desperate_Housewife_2-2

Hi guys!

When is the next update please?

TallGirl

Next update is mid January but feel free to PM me now and you wont risk forgetting to do it in January.

financialbliss

Hi everyone :hello:

While I don't post here as often as I should, I do drop in a few times a week and have a read, but I've been way off the case with regard to remaining days though. I've in the past dropped a little heads-up saying we've got 899, 799, 699 or whatever days remaining.

Completely missed the last one on 10th August - dropped to 599 days, and I've just noticed that on 18th November, we dropped to 499 days remaining, prompting me to make this post.

Keep up the good work everyone!

FB.

Kaz2904

Hi there, Totally admit to have not read the forums for AGES! It's DD's 7th Birthday today (well yesterday now!) and we've had everyone round for a birthday tea and have lots of girlys around for a party tomorrow.
Anyhoo- carpet is fitted so downstairs is virtually complete. All our friends came in and said OMG- can't believe how BIG your house is!

So so glad that it's done!

(and tf the nasty nasty carpet has gone!)

Anyway, today signals another payday so snowball updated, sig will be updated next week maybe, when the interest goes across as usual!
Hope everyone is ok even those with job worries, just think how much worse it would be?
Take care all, love Kaz!

1274

It's just under a year since I joined MSE and MFIT so I thought I'd provide you all with an update. In 12 months I have managed to pay £95K off my mortgage:j and am pushing for a £100K overpayment (which would take the outstanding balance down to £25K by our next update in Jan. Although my borrowing is cheap now (3.79%), my savings rates are all much lower so I'm not at all sorry I've emptied my savings into mortgage OPs. I can always get them back if I need to. I'm actually beginning to dream about clearing the whole lot by April 2010. Wouldn't that be fab:j

Superfast_Gran

Kaz2904 wrote: »

Hi there, Totally admit to have not read the forums for AGES! It's DD's 7th Birthday today (well yesterday now!) and we've had everyone round for a birthday tea and have lots of girlys around for a party tomorrow.
Anyhoo- carpet is fitted so downstairs is virtually complete. All our friends came in and said OMG- can't believe how BIG your house is!

So so glad that it's done!

(and tf the nasty nasty carpet has gone!)

Anyway, today signals another payday so snowball updated, sig will be updated next week maybe, when the interest goes across as usual!
Hope everyone is ok even those with job worries, just think how much worse it would be?
Take care all, love Kaz!

I'm really glad things are going well for you, honestly I am, but I'm afraid I'm one of those for whom it is worse. Mildly worse is OH is being mucked about with his job and hasn't had a long lie for weeks and weeks - never mind a day off!! Obviously with all the stuff going on around with banks and not lending & folks not being able to sell/buy houses, lots of people are suffering. A house round the corner for us was up for sale for ages and passing it today, we saw a notice saying that it had been repossessed - poor family, them and many like them. However, we're trying to sell our house because of my MS and the fact that I cannot manage the stairs any more. My options are to crawl up and bump down - or fall! So I am really am feeling woeful right now and that things ARE worse for me. DS, who has 4 kids aged 5 and under, just heard yesterday that he didn't get the job he went for miles away in Dundee - while I'm glad they're not moving to Dundee . . . . My nephew, who will be 9 next week, told me in tears that his life stinks (single depressed parent family) - now I think that qualifies for worse too. A friend of a friend lost her Mum and her brother earlier this year, and has just lost here 2 year old daughter to cot death last week.

I'm please for you guys who are all doing well, and my intention isn't to bring you all down - honestly. I just read the above post and it caught me hard regarding how we're failing the goal and getting deeper into debt after having been free (apart from mortgage) of it for about 10 years. I can feel the tears welling up again, but don't worry, I saw the quack on Monday and got her to change my anti-depressants so hopefully I'll be all ra-ra next time. Till then I'll just try to keep on keeping on and do look forward to reading everyone else's successes so that I can be inspired and uplifted. xx everyone

ailuro2

Superfast_Gran wrote: »

I DS, who has 4 kids aged 5 and under, just heard yesterday that he didn't get the job he went for miles away in Dundee - while I'm glad they're not moving to Dundee . . . .

okau sfg, this isn't going to cheer you up by much , but I thought I'd at least try....


We live in Dundee, so I thought I'd tell you a little about it, in case your DS does end up here...
There are worse things that can happen than him moving to Dundee - it's got a lot of really good things going for it, especially for kids- good early years care , some great schools, very good health service provision, including Ninewells, plenty of big green spaces and parks,museums and science centres etc. It's easy to drive in, has pretty decent public transport etc. Property is also not too badly priced compared to other parts of Scotland, and there are tons of supermarkets - everything you could want apart from Netto and Waitrose.It's also got miles of sandy beaches and waterfront and a couple of extinct volcanoes. Accessibility is generally quite good too - plenty ramps and loads of wheelie taxis, so no excuse for Gran not to come and visit often



I've noticed that some houses are starting to sell again round here - it went deadly quiet for a bit with people not wanting to believe the boom had bust. Sensibly priced houses will come back, it has started already. Price your house sensibly and it will sell, and hopefully you can find a house that suits your needs, and get on with adding in any handrails etc. that you might need. It's hard not being able to get round in your own home, and I hope you can move soon.

Things are tough for lots of people right now, our factory is suffering as a knock on effect of the car manufacturers - I read Honda is closing for two whole months in January:eek: but as a factory we'll come through it because it is a good factory with a long history of watching what it is doing with the pennies and not spending them unwisely - a bit like all of us on MFi3 - yes we are going to have a very rough time, and no we probably won't meet our goals as originally planned, but because we were sensible in the first place we'll come out the other end of recession looking better than those who went into it with mountains of debt.



I hope the new A/Ds kick in soon for you , SFG - being up at three in the morning is one of the symptoms that can make other things hard to cope with during the rest of the day - hope you feel better soon.