My MF Mission 2015

lippy1923

MFWKid wrote: »

Hey lippy, just subscribed to your thread

Much belated congratulations on the wedding, and on the MF path so far.

That is a huge emergency fund - nice work!

We have a few friends that are interested in the MF path, but most are happy with the standard mortgage arrangements - although I think people are generally starting to get a bit more savvy. I think if there is something like a hike in interest rates we may find a few more people on this board!

Thank you

EF took about 4 years to save, so it's been quite a long journey. But well worth it.

I think you're spot on. As soon as rates rise people are more likely to jump aboard the mad train :rotfl:

lippy1923

Wow. Just browsing zoopla and the site reckons my house is worth £256k :eek:

Surely these sites over estimate? Cant think we would have made over £50k increase since we brought in 2010. We were lucky house prices were still down from 2008 and we haggled the price down a little but surely things haven't been going up that much!

9 more days till payday. 3 more paydays till xmas lol

Happy Sunday everyone

Luckyinlife

Maby lippy houses have gone up since 2010 thats 5 years ago now mind :[] its all relevant i think tho because even if you sold at 250 could you find one you love as much for the same price
anless you take more money out agine
cant wait for x-mas

MFWKid

Yeah, its scary. Ours had gone up just under 50% in 7 years, and just checked Zoopla, its bang on to what our neighbours just sold for. Like LiL says though, could you find one you love for the same price?
Nice to know the values are going up though

lippy1923

Done some mortgage calculations today and I really think I can make it to £100k by the end of 2016! My target was for July 2017 when our fixed deal ends, but looking at things now, if I keep going as I am it will be achieved 6 months earlier!

Feeling determined :beer:

gallygirl

Great stuff :T:T:T

MFWKid

Wohoo! That's fantastic - go for it lippy!

lippy1923

"Do what others won't early in life so you can do what others can't later in life" ... Love that signature quote GallyGirl

lippy1923

Got an insurance payout paid to my account today. Just over £900

I do have a confession to make....

I forgot to take into account a 0% cc I have with a fairly hefty balance. I always pay the minimum plus a bit extra every month but somehow forgot to include this in my figures. It will have to be paid back at the beginning of next year so this will wipe out my 2nd emergency fund I have saved so far :embarasse

I will have to start saving for my 2nd EF from scratch!

EF 1 - £20,000
EF 2 - £0/6000

£3450/£3500 - 0% Creditcard to be paid back in 2016

Off to update my signature

money_maker_2

It's surprisingly easy to forget about 0% cards when you're planning future figures.

Good luck with the new emergency fund saving.