First steps on the road to being mortgage free

egon

Hi,

this is my first post to start our own challenge.

I have just asked financialbliss, if I can take part in MFiT-Take3.
I hope it is not to late. Not expecting any answer until later this week, as everyone still needs to recover from last year.

Hubby ist fully behind the MFW challenge, which is the main one for us.

Here just a quick overview of my challenges for 2013, more details will follow later:

1. Reduce mortgage to under 200000 Euros.
2. Aim to take part in a 5km run on the 14th August 2013 :eek:
3. Sort garden for veg beds

Thanks
Egon

lvm

Happy new year and welcome to MFW!

Good luck for your MF journey. What is your current balance? How much you trying to clear?

Good luck!

gjb1503

Welcome.

Good luck with your MFW journey.

exarmydreamer

Happy New Year and Welcome to the MFW thread. Good Luck with your MF goals.:)

*Jellie*

Another happy new year and welcome to MFW from me!

egon

So, now a little bit more about the challenge.

Our current mortgage stands at Euro 215155.55.

For this year, we want to get below the Euro 200000 mark.
Here in Germany, we couldn't get a mortgage with monthly overpayment options.
We can overpay once a year, no more then 10%.

So last night, I transferred Euro 7100 as our overpayment for 2013.
This has now taken off 3 years.... only 20 more years to go. :eek:

Evry month, we put at least Euro 150 aside for the op.
I now have to look at the budget to see, where we can save more money.... :cool:

Write to you all later.

Egon

RevolvingDoor

Good luck!:)

*Jellie*

Well done on your OP- 3 years is a really good start.

egon

I am a little annoyed. The overpayment still doesn't show on the bank account. See how long it takes "Sparki" (German Sparkasse) to show.

We have been to Ikea today. The boys have both new cupboards, which where very much needed. This was not a money saving day...

I have also read a household diary thread yesterday. They had some really good ideas coming up. So I am borrowing some of the ideas to keep tally of my daily things to do and also the money we spend (lately, the money seem to have just disappeared!).

We also had a delivery today. :j We are ordering our clothes in the UK, as it is a lot cheaper, even with postage added.
A simple half descend shirt over here cost around 50 Euro. Way to much for my liking.

Off to sort the budget and update.

Egon

Lois_E

Hi Egon and welcome to MFW from me as well. :wave:

Do tell us more about yourself. You live in Germany and have a husband and two boys, is that right? How old are your boys?

egon

After been struck down by the flu, I am a little behind with sorting our budget etc.,
Live would be boring, if it didn't come up with the unexpected.

Here a little bit about us....me, DH and 2 DS's.

My husband is a stay at home DAD. He has been, ever since we moved back to Germany in 2011. He is now starting to look for work, his German isn't that up to scratch yet though (or so he thinks!)
We are also in the fortunate position, that he can work at the house, as it needs a lot of updating.
He also coaches a international rugby team here in the north of Germany. Unfortunately though, rugby isn't as big over here, as it is in the UK. Quiet the opposite.

I am the main earner in the household, and I am looking after the budget.
DH is fully behind the mortgage challenge, as we like to pay off the house asap.

We also have 2 sons. DS1 is 7 and DS2 is 5. They are both quiet a handful
DS1 is highly intelligent and also has big problems with social skills/ live.
He is one of the main reasons, why we moved back to Germany, as we have more help from my side of the family.

DS2 is very lively/ sporty and very sociable. He is doing judo and now wants to start football and rugby. (Daddy loves for him to do rugby!)
The two are so totally different. We love them both, for who they are. :happylove

I am sure, there will be more about us, as we go along with the challenge.

Egon