The "Mortgage-free in 2025-30" club!

t-rexcellent

Mortgage Neutral - that's a shiny new tab with a graph added to my spreadsheet! I will be willing them closer every month!

liuhutOz

Hi guys
Great thread! I think this is the motivation that I need :-)
I bought my first house when I was 19, Op'd on the mortgage and got it down to 30k, then things changed and we moved to Australia. Last year we took on a 520k mortgage :-0 It will currently be repaid in 2044, when oh is 72 and I'm 67. That is not going to happen. This year is a spendy year with a trip back to the UK and dd's braces of 6k to pay for. I have two dds aged 14 and 10, who are getting more expensive to run the older that they get!! Next year, I plan on getting a pay rise at work and hitting the mortgage. Would be nice to shave 12 years off..will have to look at the figures

liuhutOz

LiuhutOz || original MF date Apr 2044 || target 2034 (ideal 2032) || goal: to be debt free and be able to help the kids out || (no diary)

pinkteapot

Wow, our first international member. :T Welcome from 12 hours in the past.

mpgsheep

Basis our overpayments and unchanging interest rate levels, we are scheduled to complete in December 2030 - some 18 years early. So we just squeak into this club for now...

pinkteapot

mpgsheep wrote: »

Basis our overpayments and unchanging interest rate levels, we are scheduled to complete in December 2030 - some 18 years early. So we just squeak into this club for now...

Woohoo! Welcome. Club membership isn't strict. I doubt many of us will end up MF during exactly those years. Some of us will be graduate early and others will slip, and that's fine. It's too long a term to be completely accurate. You're welcome if you're currently aiming for about then.

liuhutOz

Thanks for the welcome pinkteapot! I'm an expat, lived in Oz for 6 years but think we will be staying! We purchased the house last year and love it! It is our forever house, unless we downsize later!
Goal this week is to cook every night as we have fallen into buying takeaway at least once a week.

Luckyinlife

Nice to see so many of us with the same kinda time frame in mind :]

Baby_Angel

sweaty_betty wrote: »

I can't imagine being mortgage neutral!
But I'm going to put a spreadsheet together to motivate myself

I am not even "Debt Neutral" yet.
To be Mortgage Neutral I need a whopping £217K to date.:eek:

Sooner or later, with or without a spreadsheet, I WILL get there.:D

amycool

Baby_Angel wrote: »

I am not even "Debt Neutral" yet.
To be Mortgage Neutral I need a whopping £217K to date.:eek:

Sooner or later, with or without a spreadsheet, I WILL get there.:D

It must be hard to think that before you start on the mortgage you need to clear the debt (which I imagine is less exciting!), but as you say, you WILL get there. Just keep chipping away.

I was very lucky to be able to live with my in-laws for a few years (rent-free as they knew we were saving every penny for a deposit) so I have never been in any debt (unless you count my humungous student debt, which I don't ). Even the thought of my mortgage scares me, which is why I want it paid off as quickly as possible.