Mortgage Free in Three Yrs

cazmanian_minx

I'd like to join in too, please! As you can see from the sig, I'm on a mission to get rid of my mortgage ASAP

My 3-year goal is to pay off the remaining £31,981.54 - however, I'm in the middle of getting divorced, so that amount may go up if I have to remortgage to pay my ex-husband a lump sum for a clean break settlement. I've been paying off £1,000 every time the offset hits £8,000, but think I'm going to have to let that build up for a while so that when I know what the settlement figure is, I can do as much of it in cash as possible.

Caz

FrugalNotTight_2

Giving up ciggies. That's a great idea. Well done for being motivated. :T

Just remember that if you do lapse and have one ciggie, try not to let it turn into 2, 3, 4, 5, ... A lapse doesn't mean that you are a smoker again.

As a non smoker ... I CAN'T WAIT FOR THE 1ST OF JULY!!!!!!!!!! :beer:

That's also my birthday. Yippeeeeeeeeeeeee!!! The best present ever. :j :j :j

Sorry to all you smokers out there but my mum really did make me one of those anti-smoking ...

Good luck in your quest(s).

FNT

wisewoman

Hi!
Welcome to cazmanian_minx, Bargainhunter! and sarnia.

Kaz2904

Well I've just updated my snowball on whats the cost so I'll update my sig. I have to say I had a bad money month. It didn't affect the mortgage as that is paid straight away but everything else went mamaries skyward.

I now realise that I haven't got a snowball in hells chance of repaying our savings by August but will continue to chip away at them little by little!

Having just updated my snowball I can see that I have repaid £209.10 since April 16th.
But I have had to get the car fixed and pay for the holiday. I don't see us making too many inroads into the debt this month as It's insurance time too! I also need a new exhaust on the car so that'll be more money gone!

save-a-lot

Hi

My fortunes may have changed somewhat recently. I have applied for voluntary redundancy with an exit date of Q3/4 of 2009. The total package will, when combined with other savings definately put us into a position of having more savings than the balance of the mortgage.

I am now biding my time until I get an answer regarding whether I can leave the company or not. I do have an exit plan and should be back into work quickly after moving on. I will know the outcome by the end of June.

FrugalNotTight_2

Emptied my pennies jar this week and paid £63 off the mortgage. :beer:

Mr Tall - 2009 - Now that is planning ahead. Woo hoo. Sounds like you'll be landing on your feet, it I'm not mistaken! Good luck.

save-a-lot

Hi

The company I work for has to loose around 20% of the department I am in and I think it is looking that it will become oversubscribed, i.e. they cannot let us all leave - my destiny is in the hands of the decision makers now and hopefully I will be a member that can go. It really could go either way so I am in a limbo phase at the moment until I find out the outcome.

wisewoman

Kaz2904 wrote: »

Well I've just updated my snowball on whats the cost so I'll update my sig. I have to say I had a bad money month. It didn't affect the mortgage as that is paid straight away but everything else went mamaries skyward.

I now realise that I haven't got a snowball in hells chance of repaying our savings by August but will continue to chip away at them little by little!

Having just updated my snowball I can see that I have repaid £209.10 since April 16th.
But I have had to get the car fixed and pay for the holiday. I don't see us making too many inroads into the debt this month as It's insurance time too! I also need a new exhaust on the car so that'll be more money gone!

Kaz, you still managed £209.10, despite all the extra outgoings. Head up and keep on going...you're doing fine.

wisewoman

FrugalNotTight wrote: »

Emptied my pennies jar this week and paid £63 off the mortgage. :beer:

Mr Tall - 2009 - Now that is planning ahead. Woo hoo. Sounds like you'll be landing on your feet, it I'm not mistaken! Good luck.

£63 pounds in pennies...they must love you at the bank! How long did it take you to save that amount? I'm imagining your satisfaction as you counted the coins into neat, but wobbly piles.

FrugalNotTight_2

It's taken around 5 months, if I remember correctly. :j

I went to the bank at 10:00 as there's usually a small queue. There wasn't this time. I didn't hear any sighs behind me though!!! :rotfl:

Oh and it's not even the bank I have my mortgage with either!!!