The Mortgage Free Roll Of Honour

Secret_Saving_Squirrel

Hello,

We took out our mortgage in December 2004 and it was £110,000. We have just made the last payment and cut nine years off the term. I had my light bulb moment in 2010 when I realised how much we were wasting, and also that I didn't want to work until I dropped.

My tip is to just keep out of shops. They are brilliant at making you want things you don't need. We only shopped when we really needed to and saved what we didn't spend. There is a downside in that now we do need to replace lots of things as we just kept waiting until we were mf so all of our money is committed for the next few months!

We also switched most of our social life to our home and the homes of our friends and family. Now we rarely visit pubs and restaurants and we prefer it this way now. So all good. One other unexpected benefit is all the pleasure I have gained from having a diary on this forum, so thanks to you all,

Squirrel:beer:

riverboat2001

A)
We decided to go mortgage free approximately 5 years ago upon reviewing our company pension scheme and went all out to clear all our debt as soon as possible with a view to retiring early.


Highest Mortgage Debt = £277050.34

C)
Today !

D)
Get a good money management program (Try MS Money or Pocket Money app for Androids) and you'll be amazed/shocked by where you money goes, it'll open your eyes and help you to start making changes.

Emsky123

Secret_Saving_Squirrel wrote: »

Hello,

We took out our mortgage in December 2004 and it was £110,000. We have just made the last payment and cut nine years off the term. I had my light bulb moment in 2010 when I realised how much we were wasting, and also that I didn't want to work until I dropped.

My tip is to just keep out of shops. They are brilliant at making you want things you don't need. We only shopped when we really needed to and saved what we didn't spend. There is a downside in that now we do need to replace lots of things as we just kept waiting until we were mf so all of our money is committed for the next few months!

We also switched most of our social life to our home and the homes of our friends and family. Now we rarely visit pubs and restaurants and we prefer it this way now. So all good. One other unexpected benefit is all the pleasure I have gained from having a diary on this forum, so thanks to you all,

Squirrel:beer:

Congratulations Squirrel, been following you for a while now so great to see you reached the end :T

Emsky123

The date you decided to become a MFW

Oct 2010 when my maternity leave ended.

Mortgage Debt at its highest

2012 - £133K

Mortgage-Free Date
Today - 24/10/2013:beer:

Your one pearl of wisdom
MFW boards and DFW boards - so much good advise and tips on being frugal but still living life. Overpayment Calculaters are also fantastic, Seing the end result is a big incentive.

And if you had a mortgage freedom diary on MFW, a link to it.

Secret_Saving_Squirrel

That is really amazing progress, well done to you!:beer:

NPowerUser

a. The date you decided to become a MFW

18th December 2009

b. Mortgage Debt at its highest

£51,000

c. Mortgage-Free Date

4th November 2013

d. Your one pearl of wisdom

Always pay down your highest interest debt first. Join a MFW thread on these boards, as collective encouragement definitely helps. Only buy things that you really need.

e. And if you had a mortgage freedom diary on MFW, a link to it
https://forums.moneysavingexpert.com/discussion/4325443

LavenderBees

...Yay! I, too, have become mortgage free :j

LBM? - Not sure, really, I think it crept up on me as I had no idea until I stumbled across this forum that overpaying was a smart thing to do. After all, it's acceptable to have a mortgage debt for years, right?

I read MFW diaries for months before it clicked with me that these were not rich people achieving mortgage free, and that I, too, could try...3 years ago I decided to try to become mortgage free in 5 years. I managed it in 3 years :j

Mortgage at highest - 9 years ago was £50,000, 3 years ago it was £35,000. It appalls me that I only paid off £15k capital in 6 years....:mad:

Mortgage Free Date - 29th October 2013

Pearl of wisdom - Be firm with yourself - if LB can do it, so you can too. Really!! :rotfl: Treat your money as though it's more valuable to you than anyone else ...believe me, it is!

Good luck.

LB xx

NPowerUser

If the powers that be grant myself and Lavender Bees a Mortgage Free badge we would be eternally grateful x

black_taxi_2

http://m.youtube.com/watch?v=TFwprS_L6tg&desktop_uri=%2Fwatch%3Fv%3DTFwprS_L6tg

LavenderBees

black_taxi wrote: »

http://m.youtube.com/watch?v=TFwprS_L6tg&desktop_uri=%2Fwatch%3Fv%3DTFwprS_L6tg

:rotfl:

I thought being mortgage free was prize enough, but if there's a badge going ...... :T