extreme frugality till mortgage debt is gone ..three years to go!

seeking_happines

im on a journey for three years starting today to get rid of £90 k of mortgage debt...:eek:
so only buying whts needed and then only if i havent got anything i can replace it with at home..slashing the food etc bill to £200 per month for five of us
to make all presents, i have a large fabric , wool, embroidery stock gatherd over the last 40 yrs:o

just to make this realy intersesting i also am living in an unfinished barn conversion which my ex partner has left me with :mad: i cant sell or do anything with untill it s finished and the mortgage is paid of...:eek: my new partner ( also my ex husband )is doing all the labour......so all sugestions would be good...oh yes we have three boys 17 , 14, 11 the oldest two are autistic on at collage and the 15yr old at special neds school, my other half works away all week and im at home, getting over a a serious illness but am working by selling things i make on ebay,
we are also getting in 4 - 6 lodgers when the rooms are ready :j
on the good side we have asolid fuel range and get free wood so all heating and cooking and hot water cost nothing:rotfl:

i think thats all sorry its a long post merry chrismas and a hppy frugal new year to you all:beer:

Trying_to_be_good

Hello, SH, and Happy Christmas!

It looks like your plans may fit well with the Mortgage-Free in Three Take 3 challenge in this thread: https://forums.moneysavingexpert.com/discussion/4152769 if you fancy some company!

opinions4u

Write a book about your private life.

Should raise a few quid .

ACG

Im sure your sons will love knitted jumpers for xmas/birthdays etc.
Is it really worth it? You could die in 2 years.

I could understand if you were clearing "debt" where you have spent more than your earning but a mortgage?

Im not one for the finer things in life, but i do like going to the local indian, my local pub and being able to buy food i want rather than the cheapest of everything. If i had been seriously ill i would want to be making the most of life.

Each to their own and im sure in 3 years you will be very happy but at what cost?

katejo

ACG wrote: »

Im sure your sons will love knitted jumpers for xmas/birthdays etc.
Is it really worth it? You could die in 2 years.

I could understand if you were clearing "debt" where you have spent more than your earning but a mortgage?

Im not one for the finer things in life, but i do like going to the local indian, my local pub and being able to buy food i want rather than the cheapest of everything. If i had been seriously ill i would want to be making the most of life.

Each to their own and im sure in 3 years you will be very happy but at what cost?

I agree. I also like making overpayments to clear my mortgage but not to the sacrifice of simple enjoyments in life.

seeking_happines

im not at deaths door...well i hope not!

th mortgage is in my name only and due to promises made by my ex partner i have no life insurance on it!!:eek:

i cant get any insurance at present so if anything where to hapen to me then my boys will loose there home, that is something i would not want to happen as finnished its orth over 3k
andy yess i still do want to have fun.....but cheepley

i was hoping for some support as ive read many post over the last year and everyone seemed helpful and supportive

opinions4u

seeking_happines wrote: »

i was hoping for some support as ive read many post over the last year and everyone seemed helpful and supportive

I don't think people were being unsupportive, simply pointing out other courses of action as part of the pros and cons.

The first reply pointed you to a different section where you would almost certainly get the "support" you want.

seeking_happines

have just realised that ive posted in the wrong place sorry......

ACG

Im not being supportive or unsupportive. My theory is if you work hard enough it will come, so if your plan is to be mortgage free in 3 years im sure its something that is possible. But you will do it because you want to, not because i wished you good luck.

On a side note, you may still be able to get life insurance, you might just have to speak to a mortgage or financial advisor.

Good luck though.

TediousPhoenix

My husband and I are soon to join the mortgage free wannabes when we move next year to a mortgage that allows unlimited overpayments. We are aiming to do it in 5 years though.

Martin's blog post - http://blog.moneysavingexpert.com/2006/01/05/pay-off-your-mortgage-in-two-years/ - I think holds some of the sentiments other people are saying: to be mortgage free at any cost is not worth it, i think they are just trying to look out for you. But of course we don't know your exact personal circumstances.

We will be joing the MFWs soon, so see you on the other, frugal side!

jules888

We have been mortgage free for several years now and its great!But still had hols and save up for things we want,never get on credit.Should be moving soon after new year,using house sale and savings to buy another house.Cant wait!
Good Luck SH!