Back after my break

drinkduffbeers

Started on the mf journey 5 years ago

My plan was to be mf in 5 years and kind of lost my way

Years 1 to 3 reduced my mortgage from 97 k to 47k

Years 4 and 5 completly did the house up and went on a coast to coast hol to the USA Mortgage reduced to ....................erm 47k

Well I'm back. I've done it before. Don't need anything for the house and have lost the travelling bug for now

Just fixed my flexable mortgage for 2 years and adjusted the direct debit to clear the balance by dec 14

So here we go again. Life going to be a little less lively but I stuck at it for 3 years so I figured I could stomach 2 more years

Job secure untill 2016 so makes sense to go mf whilst I can

Wish me luck:j:j




Challenge start opening amounts

Currently outstanding on Mortgage. £47000:eek::eek:
Currently outstanding on Loan. £1765:eek:

sweetdaisy

Good luck on your MFW journey .

Secret_Saving_Squirrel

Good luck on your second round!

PaddyPaws

Good luck on the MF journey, don't blame you for taking a break the holiday sounds fab!

PP

originator

bet u enjoyed that american trip,did you do california coastline first??

drinkduffbeers

originator wrote: »

bet u enjoyed that american trip,did you do california coastline first??

Ha sure did. Started San fransisco. Amazing place but sure is full of crazies at night!

All good fun:rotfl:

drinkduffbeers

Sorted a new 2 year fix out which will hopefully see me through to mf

That alone saves me about £80 per month

January 13 update:)

Final push to Mortgage Freedom :j:j MFiT-T3 #153
Jan 13. Mortgage£47000 @>1.5k pm Target date. Dec 14 £0
Jan 13. Loan.£1765 @353 pm Target date. May 13 £0
UPDATED 21/01/13 Payment 1 of 24 complete and on target:beer:
Mortgage Capital reduced by £1500 outstanding balance £45500
Loan reduced by £353 -outstanding balance £1412

Bufger

in my opinion you did it the best way. Going hard at the mortgage for a while, taking a break and enjoying life and then going back at it. I plan to do something similar whilst making small OP during the year break from overpaying, we plan to take the kids to disneyland florida during that year.


Well done OP, i'll watch with interest

drinkduffbeers

New mortgage rate from May alongside loan cleared should mean capital payments will increase to 2k

23 payments to MF:j

mrs_motivated

Welcome back

You did so well to reduce your mortgage so much in 3 years, I think you deserved your trip ( it sounds fab). It's about striking a balance between getting rid of the mortgage and still having a life, your year off was probably exactly what you needed to re-focus.

Best of luck for the coming year.

drinkduffbeers

Been A bit tough this month but overpayment 2 of 24 successfully made

Had to mot the car. I followed the advice from this site and did the pre checks myself
I had a tyre changed for £72 ( Pirelli ) when the same last year I paid £ 160 doh! !!
Should have known better but could not resist a cheap half price mot deal at Halfords .....
Well halfords failed it on brakes suprise!!suprise !( explanation was very wooly so took it to council mot station)Passed no problem - lesson learnt!

Also had to pay my annual service charge on my property . Ive since made arrangements to pay monthly to iron out this unavoidable expense . But alas took the hit on this years in one hit

These expenses have meant severe cutbacks elsewhere this month and my life balance has suffered as a result. Lived off my freezer contents and not been out once:(

but still on track and next months payment has sufficient slack to hopefully strike a better balance


February 13 update



Final push to Mortgage Freedom :j:j MFiT-T3 #153
Jan 13. Mortgage£47000 @>1.5k pm Target date. Dec 14 £0
Jan 13. Loan.£1765 @353 pm Target date. May 13 £0
UPDATED 12/02/13 Payment 2 of 24 complete and on target:beer:
Mortgage Capital reduced by £3000 outstanding balance £44000
Loan reduced by £706 -outstanding balance £1059