Mortgage Free in Three Yrs

hughmungas1986

Merry Christmas to all.

Hope you're all having a great day

hugh

FreedomGirl

Hi everyone,

I can't believe it - apparently I last logged in at the end of July. Sorry, I missed the update, although I would have been the only person in negative percentages but said with a wry smile

(For those who don't remember, life changed for us in a big way, with unexpected health issues, which led to us leaving jobs, retraining for a year, and living off the One Account)

Anyway, since then, the hubby and I have both started our new jobs, and I have managed to make not one, but two, payments of £500 to One Account. And the OH has been paying £500/month since September, which covers a bit of the interest and the running costs. So, we stopped going backwards about then...

So, my new mini-goal for the end of the challenge is to finish at the balance we started out at

And, if some money comes through from an inheritance, we could still just make it in time. Now off to register with financialbliss's MFiT-take 2

Merry Christmas everyone...and congratulations to all those who have made it to mortgage free heaven.

FG

hughmungas1986

Just dropped in to say Happy New Year to you all.

Not long to go till the challenge is over, don't forget TG needs your latest balance by the 15 th to update the chart.

hugh :beer:

Kaz2904

Just popping in to update quickly. Don't think I'm going to make my target but I'm still impressed by how far we've come. Well done to all of you who did make it though!
My posting will probably be fairly irregular as our computer is broken and we're (finally) starting to decorate our bedroom. We'll have no time to get on the 'puter at this rate!
As of 22/12 my figs are:
Mortgage:£40,422.58, mum loan £11200, savings £2800. Total debt: £54422.58
Repaid £38305.17 89.08% of £43000 target.

TallGirl

Thanks for the updates please keep them coming. Remember we are going to update every month to get the chart as much up to date as we can by 01.04.10.

Our balance is down to £1320 so well on our way.

Bargain_Rzl

Thanks TallGirl. I will update you in the next couple of days. I haven't overpaid for a while but due to the way I organise my finances, I can at least now say that my overpayments are "real" not "virtual" (I had been plugging my mortgage account with money that was surplus to cashflow as well as money that was genuinely earmarked for savings - as per the master plan it all balanced out by December 2009 payday).

I'm debating whether to make some more "virtual" overpayments at this stage, though my spare cashflow isn't as plentiful at the moment as it was a few months ago, thanks to having paid off an interest-free credit card at the end of its interest-free period, and due to having lent a "friend in need" £500 in the middle of last year which I don't expect to see back in my account for at least another six months.

Bargain_Rzl

This is way off-topic but I've just had some really good news and wanted to share!

Funny I should mention this today:

Bargain_Rzl wrote: »

...and due to having lent a "friend in need" £500 in the middle of last year which I don't expect to see back in my account for at least another six months.

My friend had to raise £3000 to defend himself against an assault charge maliciously brought against him by his ex-wife during an acrimonious divorce. I and other friends who are only too familiar with the whole situation lent him various sums of money towards it (though to be perfectly honest I would have lent him the money even if I'd believed him guilty, as the criminal justice system makes almost no statutory provision for defendants who don't qualify for legal aid, which effectively prices a lot of people out of a fair trial). The prosecution dragged it out for months with new court dates etc because they weren't expecting him to be properly prepared, and weren't ready. I've just found out this morning that he has been acquitted on all charges :j :j :j

[Deleted User]

Quick update: we passed our MFi3 target of £14,764.13 a couple of weeks ago. Yay! We're now on course to pay off the mortgage entirely in July, in theory - though in practice, building maintenance may take priority (and with interest charges of less than £1 a day, the motivation to pay off the mortgage quickly has lessened significantly!)

Desperate_Housewife_2-2

Happy New Year everyone!

thought I'd just post and offer my support to people. Not long now and January is a hard one.

I am still being frugal and watching the pennies. I am in the process of using up food from xmas and done a meal plan for the week. I damaged the wire of my slow cooker last night and its not safe to use so I had to buy a new one but managed to get one off amazon fairly cheap and its the same model so I can 'cannabalise' it! I use it all the time so its a necessary expenditure for me.

Getting rid of the car has been quite good really as it has made me focus on my grocery shop. I am lucky that I can buy local fairly cheap and manage to drop lucky on 'whoopsies' from the co-op. Tonight I am doing macaroni cheese with leeks and bacon which is a winter warmer. Planning on chick pea curry for tomorrow and a chicken soup (hope my sc arrives by then!)

I opened up a cash isa and have been paying my mortgage money in (I am now charging myself rent!) One tip which may benefir some of you is the Halifax account which pays 5quid if you put a grand in every month. I'm just moving money in and out and geting the fiver! 60quid a year for the overpayment if you can be bothered...

I am looking forward to the update, good luck everyone!

chickadee

Hi everyone, Happy New Year!

Rzl - so pleased to hear about your friend's good news. That must be a weight off his shoulders and a great start to 2010 for him.

I'll PM TG later but I'll share my Dec 09 update with you all.

Start: £65,000

31-Dec-09: £36,621

Paid off: £28,379

Considering my original target was a measly £11k, I'm more than pleased with this!