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Samatron MFW Mission
samatron
Posts: 10 Forumite
Yet another MFW thread starting right here!
As of today, the millstone stands at £81,752.59
Which I can spend the next twenty years paying off, but five years sounds a lot more agreeable!
The only way I can do this is to:
1) remortgage for a shorter term to force me to pay more off
2) save up an emergency fund in an ISA (3-5 times monthly salary)
3) start maximising my income using all the tips on this website
4) throw as much bloomin money at my mortgage balance as I am able to!
On the plus side:
Almost there with the emergency fund > want to get to five figures before I can put that one to bed.
On the downside:
London doesn't give me much breathing space to save.
Current progress:
eBaying as aggressively as I can (which is turning me into Delboy)
using survey sites
going to apply for a cashback card like Amex
tracking everything I spend has stopped me buying things I don't need!
Best of luck to all other MFW's!
As of today, the millstone stands at £81,752.59
Which I can spend the next twenty years paying off, but five years sounds a lot more agreeable!
The only way I can do this is to:
1) remortgage for a shorter term to force me to pay more off
2) save up an emergency fund in an ISA (3-5 times monthly salary)
3) start maximising my income using all the tips on this website
4) throw as much bloomin money at my mortgage balance as I am able to!
On the plus side:
Almost there with the emergency fund > want to get to five figures before I can put that one to bed.
On the downside:
London doesn't give me much breathing space to save.
Current progress:
eBaying as aggressively as I can (which is turning me into Delboy)
using survey sites
going to apply for a cashback card like Amex
tracking everything I spend has stopped me buying things I don't need!
Best of luck to all other MFW's!
0
Comments
-
Good luck!Mortgage OP 2026 £640/2000Mortgage balance: £32,222
Make £50 a month Jan £20, Feb £0, March £31, Apr
Boiler fund £1981/30000 -
Good Luck!:)Jan 2013-£140,231.65
Jan 2014-£120,081.940 -
going to apply for a cashback card like Amex tracking everything I spend has stopped me buying things I don't need! Best of luck to all other MFW's!
Welcome to the board samatron, don't forget to use the cashback sites to apply for your credit card, just had a quick peek at [EMAIL="topc@shback"]topc@shback[/EMAIL] and they are offering up to £52.50 for Amex cards. I got £60 a couple of years and always nice to get free money
Good luck with your plans
Regards
ATTMFW Start Date 1.4.08. Updated 23.1.18. MFW date 1.8.18
Original Mortgage o/s £187,643 / £71,904 (-115,739)
Repay o/s £92,661 / now £55,900 (-36,761)
Int Only o/s £94,982, now £16,004 (-78,978)
Total daily interest £1 [a) £0.77 b)£0.23
Total OP's:2018 target £TBC YTD £1,9950 -
eBaying as aggressively as I can (which is turning me into Delboy)
QUOTE]
:rotfl:I think you'll find a few people on this board in the same boat. You could all start a 'Delboy Club'Mini Challenge - Halve 2nd Mortgage by Year EndStarting: £10,000 Currently £8,142.62£3,142.62 to go!0 -
Good luck!
I have also just (seriously) started on the MF journey and have a similar balance to you to pay off. Seems like a mountain but one step at a time and we'll eventually reach the top :beer:Mortgage balance £21,251.37 2 Oct 2019
Mortgage balance £63,086.48 24th Mar 2015
Original mortgage end date Aug 2033, aiming for Jan 2022
2019 MFW #132 £4350/£30000 -
Oh blimey... this isn't going well.
If you've got a mountain to climb, mine's now a trip to the moon.
Just in the process of buying a flat in London, which almost trebles my mortgage debt.....0
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