Mortgage Free in Three Yrs

Batgirl

Carlsberg wrote: »

Batgirl has been really supportive and ive joined quidco and rpoints, ill be dammed if I know what to do on em though. Pigsback confuses me enough LOL. And I work in IT, theres no hope eh!

PS. Catowen, i know what you mean about interest eating all your monthly payments. In about 6 months of paying £700 each month, we only cleared about £800? Something wrong there?!?!? Wish it was 0%

C x:p

Aaaahhhhh bless you, any help you need with pigsback, r points, quidco or freefivers pm me and I'll sort you out, I've been doing them all for over a year now and think :rolleyes: I know how they work (If not I'll find someone else who does )

comping_cat

I can also help if anyone needs any help with the paid to click sites, ive been doing them for over a year as well, and get a couple of cheques every month now, they all go into the mortgage!!!

groatie_queen

Hello folks,

It's good to see so many saving every little bit towards their mortgages. Well done!:beer: Looking forward to the August update from TallGirl, but it's great to read the unfolding story of what and how everyone's doing in the meantime.

Every little bit really does help..... I'm not officially part of the challenge, as I'm working on improving my health, so I'm one of your cheerleaders
- :j go, MFiTs, go!! :j -

but I'm still squirrelling away bits of money where I can into my offset (Woolwich/Barclays). This has cut the mortgage interest to about a third of what it was before I started using the offset account.

Even though my mortgage is tiny now, it was huge (to me!) not so long ago, and the trick has been to keep consistently hammering away at it. I had a brilliant rate for two years, 3.59%, worked like a demon on reducing the balance, and then went onto the SVR free of charge, made sense as the mortgage was now so small, and can overpay with no limits.

Having been not well and therefore disinclined to go out socially or to the shops has been very good for my bank balance!! Off a total income this month of £1277 (p/t salary plus lodger's rent), I banked £598 - £114 into the mortgage and £484 into the offset account today. A bit of storecupboard and freezer diving has helped as well - thanks to the OS board for loads of inspiration.

I set up a spreadsheet today and worked out that in December 07 my savings will balance my mortgage at around £8,500, yay!:j It will be good timing to reach that balance point at Christmas, as I reckon my lodger may move on around then. I will look for a replacement, as the tax-free income is a great help, and has been a major component in my MFW plans.

At that point I'll make sure the reducing balance on offset and mortgage keep matching each other, and put the excess from the offset into a cash ISA.

Keep posting, everyone - it's great to hear all the positive stories of how we're all doing - happy mortgage bashing everyone. :T :T

GQ xxx

freebird65

Finally I understand what TallGirl meant when she wanted my "balance at 1/4 and current balance" as I couldn't understand how they'd be any different. I've been making a daily check on my online account balance and now see how it goes up every day - from that I've worked out that my small starting overpayment of £88 came straight off the capital (and not interest as someone said might happen) and my remaining balance is now incurring interest charges of £23.16 a day.....money I'd rather have staying in my pocket than going to some director's pension plan or bonus!!!

So, Daisy is being fed regularly - even my Mum shoved in some change from her bag! - and I'll be starting to make some inroads into that monster £146K millstone. I don't think anyone should be bothered by how much or how little you can put in - every little helps!:T

TallGirl

Sorry if I am confusing everyone, I am Danish after all. Had a really busy week but do try to find the time to come and read on here.

My mum and stepdad wont be able to visit us later this month as he now needs oxygen 23 hours a day. So we have decided to stay for a week in Devon instead of 4 days as planned. It is extra money but I really need a week off. Can't wait it is full board all included also golf so should not need much spending money.

Hope the Summer comes back.

do_it_today!

Hi all :hello:
I think this initiative is little bit of a competition.... not against anyone but your mortgage...
I think alot of us just resigned ourselves to the ball and chain for 25 years - but by focusing ourselves we are all finding ways whether its a couple of quid a month or a couple of hundread to make our mortgages that little bit shorter and cheap.

its funny how you just start thinking of ways and bits of money or solutions just kind of pop up - the main point isnt how much you carve off even whether you meet your target - the point is simply the difference our actions are making to our own situations and thats got to be good!

do_it_today!

well not cheap but cheaper

angelavdavis

Wow you have all been busy while I have been away (working - nothing great!)

Good to see everyone so positive! Well done everyone!

Batgirl

Was quite pleased today, I worked out that just by doing my daily clikc thrus I earn over £247 every year, and it really is money for nothing, so at least that is some more pennies for the mortgage :j :j :j .

Carlsberg

Hiya guys. Just sat at my mums waiting for PH to come and get me when hes finished at golf. Managed to go into town today with mum and then to bakewell this afternoon and havent spent a penny! wohoo. ive got a £5 in my purse, but cos its a note, im loathed to break into it. Will have to though as going to our wedding venue tomorrow to try the hog roast, we are having one at the wedding instead of a sit down meal, nicer and cheaper! Been to get my things for favours today (mum paid), cost about £11 in total for lace, bonbons and ribbon, DIY! Havent managed to get a mortgage pig but PH is a big single malt drinker so we have quite a few cases from whiskey bottles lying about, ill use those. Batgirl, on monday in going to concentate onworking out these click throughs, ill pM you if i struggle. I know what DD means, I can fix your lotus notes, or give you access to drives, but im crap on the tinterweb, no idea what in doing. Bless. Hope everyone is having a good cheap weekend. Tall girl, sorry to hear about your stepdad, hope hes doing ok? Devons enough to make anyone well, crantock is my favorite place, but not really the place to go if youre saving eh LOL. Have a nice break.:p