Back after my break

drinkduffbeers

Another month in and overall looking ok

I am actually in my overdraft to the tune of £160

However £60 of this is due to me transferring my car insurance to another provider. Overall I will save about £180 on last years premium so a smart move

The other additional expense is me acquiring a new four legged friend

I needed a new hobby to help me along my mfw path and this one should have considerable health benefits thrown in

New dog one off costs have been around £400 . However will be back on budget next month and with no council tax to pay in march has helped

Plenty of fish finger butties and tins of baked beans for me in the mean time but worth it

Mortgage overpayment and loan payment still made in full regardless.!

drinkduffbeers

March 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 08/03/13 Payment 3 of 24 complete and on target:beer:
Mortgage Capital reduced by £4500 outstanding balance £42500
Loan reduced by £1059 -outstanding balance £706

drinkduffbeers

All good. Firmly on track and building momentum nicely

Stayed on budget for my monthly spend -and managed to reduce my outgoings by around£80
Switched energy supplier,home insurance and car insurance

Got some nice cashback !along the way

Penultimate loan payment made and my new mortgage rate kicks in at the end of the month

surprising what you can achieve when you build up a bit of steam and commit!

And for extra motivation I've joined The mortgage free in 3 challenge - !MFiT-153

drinkduffbeers

April 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 07/04/13 Payment 4 of 24 complete and on target:beer:
Mortgage Capital reduced by £6000 outstanding balance £41000
Loan reduced by £1412 -outstanding balance £353 :

fothers365

Well done, you are doing a great job!

I bet you enjoyed that holiday, it sounds amazing and the break will help you to get back to focusing on it again.

drinkduffbeers

Another month another update and a few milestones reached

Loan now fully repaid ( debt free apart from mortgage for first time in about 20years)!

Mortgage rate dropped from 4.99 to 3.39

Broke through the 40k barrier

This means my monthly capital repayments can be upped from 1.5 k to 2 k from June!

I m also due a bonus next month so will over pay with that too

If I'm making this sound easy it ain't as I'm living on a tight budget But it's going to be worth it to be mortgage free by dec / nov 14

drinkduffbeers

:):):). May 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 09/05/13 Payment 5 of 24 completed
Currently ahead of original target:beer: stretch target now Oct 14
Mortgage Capital reduced by £7500 -outstanding balance £39500
Loan reduced by £1765 -outstanding balance £0 :T:T:T:T:T

drinkduffbeers

I've tidied my thread up so the monthly progress figures now standout better

Hence the edits everywhere :rotfl:

I'm finding this diary business quite motivating

Anyway 25% of the way though the challenge next month allready:T

edinburgher

You're doing great - did you keep a diary for the first 3 years? Your progress was stellar!

drinkduffbeers

edinburgher wrote: »

You're doing great - did you keep a diary for the first 3 years? Your progress was stellar!

Alas no

I may have allready been mf if I had :mad:

To be honest I was a bit paranoid owing 100k and physiology eased up a bit when it was down to 50k

However when the threat of redundancy in 2016 emerged it re sparked my quest

What ever happens im really looking forward to releasing the mortgage shackles and not been backed into a corner financially

If things work out and I keep my job I'm going on a round the world trip. Cool motivation :T