Mortgage Free in Three Yrs

Batgirl

I know my efforts are pants compared to everyone else, but we only became debt free Jan and then my husband took a job paid £200 less a month, and we have just paid for a fantastic holiday, car parking, transfers, brought all the gear and got spending money all with CASH!!!! And this is a first, things for holidays have always gone on the credit card :eek: and we have never been to anywhere as nice or expensive before. But today I paid £26 off our mortgage, yes £26 not £260 or £2600 but £26 and I am delighted. We are on lots less money wage wise, have a fab cash paid holiday next week and I still had £26 left over. I am aware that I am very sad - as my family have made clear when i told them - but I am delighted!!! :j :j :j

sparklymessygirl

I am aware that I am very sad - as my family have made clear when i told them - but I am delighted!!! :j :j :j[/QUOTE]

Aww - you are not sad you are FAB! :j
Well done!
Sparkly

cupid_s

Batgirl - if you can have done all that and still paid something off your mortgage, however small, then it's great.

Batgirl

Aaaahhhh Thanks, I really got a right ribbing for £26 and I am very awar its 0.001% of my mortgage and they just said whats the point its only £26 its not even going to make a dent, which is true but I just think £26 is still £26 and better than nothing. I worked out that if I paid that much off every month for the 25yrs we have remaining it will knock between 6 months and a year of the term.

Thanks again

Batgirl

ailuro2

Batgirl- the point is, you overpaid on your mortgage, you got off your butt and did it- :j the amount may be smaller than some of the amazing sums on here, but it is still £26 more than anyone who laughed at you overpaid on their mortgage:D That £26 is worth nearly £89 towards your mortgage of 25 years- check it out on any calculator- you more than trebled your money:D

do_it_today!

Every little counts!

togashi42

Just a quick note to say I have updated my signature line to show that I have added the extra ionterst from the offset savings!

Nearly £2K extra now! Woot!:beer:

FrugalNotTight_2

Don't forget this savers. Even if you take £1 a week off your mortgage, that's not just a saving of £52 per year. It's a saving of £52 per year plus the interest that would have been added over the full term of your mortgage. As the interest is compound interest and usually calculated daily, we are saving more than we think. So when someone says what is the point. Just ignore them as they have different priorities and goals and only focus on what they want to focus on. Usually spending money on unecessary expenses. Like bottled water!!!!!!!!!!!!!!!!!!!!!! :mad:

Can't wait to find out my next balance figures. I'm going to phone the so and so's on June 30th (The day before my birthday!):beer:

TTFN FNT

jobbingmusician

No 22 reporting in.

Still overpaying each month, and I've just put another £500 into the pot. When that takes effect, my balance will be £30,588.04, which means I've paid off £5000 since 1st April!!!:j

Although I have been working very hard doing extra mystery shops, I really would not have thought that I could have saved so much money in 3 months!!!! :beer:

TallGirl

HI Gang
I think it is about time I do you a proper June Update. I think we are doing really well just look over £3 million to pay off but already we are getting close to £90k paid off. Keep going is all I can say. Without this thread I would not have considered overpaying more than what I already do.

Please note next update will be 11th August so get your figures to me by then if you want to go onto the chart.