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Now to magic away the mortgage!
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MFWfairy
Posts: 7 Forumite
Hi fellow MFWs!
I've read and learnt much from you over the years and now its my turn to join in!
Today I made the last payment on the last of my unsecured debts, now it's time to magic away the mortgage! :T
I've learnt not to set myself targets - its too upsetting if I fail to meet them! Instead I'll keep doing whats worked for me so far, making small and frequent overpayments!
Today I also made my first ever mortgage overpayment £43.82, made up of £25.32 in ebay sales and £18.50 I'd budgeted to spend this weekend but didn't in the end!
Given that this mountain is a huge one to climb, some support along the way would be great hence my decision to write my own MFW diary and share my journey
Looking forward to the journey ahead
MFWfairy
I've read and learnt much from you over the years and now its my turn to join in!
Today I made the last payment on the last of my unsecured debts, now it's time to magic away the mortgage! :T
I've learnt not to set myself targets - its too upsetting if I fail to meet them! Instead I'll keep doing whats worked for me so far, making small and frequent overpayments!
Today I also made my first ever mortgage overpayment £43.82, made up of £25.32 in ebay sales and £18.50 I'd budgeted to spend this weekend but didn't in the end!
Given that this mountain is a huge one to climb, some support along the way would be great hence my decision to write my own MFW diary and share my journey
Looking forward to the journey ahead
MFWfairy
Unsecured DFD: 03/11/13 :T:j:T (Total Repaid £33857.61)
Mortgage Balance : £167687.30
Total OPs: £171.95
Mortgage Balance : £167687.30
Total OPs: £171.95
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Comments
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Hi and good luck!
xx MFW Sept 2013 Starting balance: £101160.59 25 years :eek:
OPs 2013-2014: £64.33
MFW #780 -
I've learnt not to set myself targets - its too upsetting if I fail to meet them! Instead I'll keep doing whats worked for me so far, making small and frequent overpayments!
That sounds like quitter talk
I am just kidding (and welcome to the board) - I have found that the trick is to start out with small targets that you might actually achieve.
We all have a crazy goal that we'd love to get to some day, but it might take years or decades. Start small
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Good luck..I have just joined too and aim to make small steps to focus on changing the term of my mortgage and reducing it.Mortgage 22 years £190,419 at 2.84% fixed for 2 years from 1st July 2014
Mortgage 21 yrs 6 mths £186,059 as of February 2015
Mortgage 20 years 7 months £178,644.68 February 20160 -
Thx for the advice edinburgher! I'll certainly think about setting something small - not sure where I'd start with a such a huge mortgage though!Unsecured DFD: 03/11/13 :T:j:T (Total Repaid £33857.61)
Mortgage Balance : £167687.30
Total OPs: £171.950 -
Good luck to you too happy days 70!!!Unsecured DFD: 03/11/13 :T:j:T (Total Repaid £33857.61)
Mortgage Balance : £167687.30
Total OPs: £171.950 -
Well, you could see it as 167 x 1k, or 1000 x 167, or just 'the next £100'. Well done on your success so far :TThx for the advice edinburgher! I'll certainly think about setting something small - not sure where I'd start with a such a huge mortgage though!A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"0 -
I'm not a MFW just yet, but I'm a Wannabe-MFW (just need to get the house and the mortgage first) hahaha! But I love reading these MFW diaries, it really spurred me on to get the mortgage together!
£167859.25 (it would be the bit in bold that I'd be tacking first!, but then I do like nice round numbers!)
Best of luck on your journey,
D90 -
That's a good way to look at it - thanks gallygirl!Unsecured DFD: 03/11/13 :T:j:T (Total Repaid £33857.61)
Mortgage Balance : £167687.30
Total OPs: £171.950 -
Also, do you know your daily interest? Aim to get it below the next £.
If you like playing on excel, draw yourself a house - each brick is 1k. As you've paid off such a massive debt you could have a long path leading up to the door, already filled in.
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort Mortgage Balance = £0
"Do what others won't early in life so you can do what others can't later in life"0 -
Good luck with your plans. Given I even OP 1p, I'm a firm believer in 'anything is a step in the right direction'. Looking at what you've achieved so far you'll love this journey.
Best wishes Tilly x2004 £387k 29 years - MF March 2033:eek:
2011 £309k 10 years - MF March 2021.
Achieved Goal: 28/08/15 :j0
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