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Finally concentrating on becoming MF
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On the good side I've done a bit of maths and in 2 years when some of our financial commitments reduce, the money that is currently being used for those is exactly what we need to save to put into the mortgage at renewal time to meet my goal of 12 years till MF. Always being up for a challenge maybe I should make my goal 11 years....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 -
Hehe it sure does..... We shall see!!!!!0
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I love the sig, especially the 343 payments. Makes it sound so much better than years and months!!!!Mortgage at end 05/2007: £90200
Mortgage at end 08/2018: £71646 paid £18354 (20.5%)
MFD: :eek:Original:05/2042:eek:
Car Finance: £8225 : £6392 (22.2% paid off)
CC Debt (0% until 06/2020): £5640 : £4400 (21.7% paid off)
Age of Money at 31/08/2018 = 23 days
YNAB is changing the way I live my life....and spend my money!!0 -
Thistlewhistle wrote: »I love the sig, especially the 343 payments. Makes it sound so much better than years and months!!!!
Agree - that is a great approach- Mortgage @ March 2008: £194,965 ; Lightbulb Moment: July 2011: £164,926; End Date: March 2033
- MORTGAGE FREE: September 2015
- MSE 1p Savings Challenge 2024 #50: Jan, Feb, Mar, Apr, May, Jun, Jul, Aug, Sep, Oct, Nov, Dec = £223.84/£671.61
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Thank you everyone for your encouraging comments :-)
As of today it's 'only' 342 payments to make, off to update the signature now....
Elderly vegetable and frozen prawn stir fry was a good success last night. I have plans for tomato & chilli jam tonight - the tomato glut it never ending it seems and I really want to make the most of it0 -
Oooops got ahead of myself! Money goes out tonight so can't update total just yet...!0
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I've been playing with my bank's mortgage calculator, and putting in a pessimistic figure of $10K lump sum going in at renewal date, if we reduced the term by 5 years then our repayments would only go up by $100.
If we put in $20K we could shave off 5 years and pay an extra $40 per month. That's such an incentive to keep up the saving.
All depends on what happens with the interest rates here - at the moment I'm seeing mortgages at over 6% eeeek!!! House prices continue to rocket up here so I'm considering if we had the house revalued at renewal we would no longer be paying a higher rate (currently an extra 0.6%) for high LTV.0 -
After a small panic as to where I was going to find all these savings from, I have resolved to buy nothing from my 2 work bonuses during the year and plough that money straight into the lump sum.
It's 30 degrees here still (sorry, sorry, i know the UK weather is horrendous) but DH requests 'big comfy hot chocolate with marshmallows' last night.... Well that's the end of the milk for the week! Never heard hot chocolate referred to as comfy before but it seemed quite apt and I thought it was cute :-)0 -
I'd quite like some of your heat please
It's amazing how you can cut the term and payback amount isn't it. Good luck with the calculators.
Tilly x2004 £387k 29 years - MF March 2033:eek:
2011 £309k 10 years - MF March 2021.
Achieved Goal: 28/08/15 :j0 -
sure thing Tilly, I'll send some right over :-)
those calculators are additive - wish we'd taken out a 25 year mortgage to begin with rather than 30 but hindsight is a wonderful thing...0
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