The Mortgage Free in Three - Take 4 challenge (MFiT-T4)

shala_moo

Hi, i'd be up for another challenge.. i'd love to be mortgage neutral by the end of the next three years so having the challenge in place keeps me focussed.

Thanks for all you do keeping the chart up to date x

ajmoney

I too would like to do T5, it is keeping me going. I am pretty sure we will be mortgage neutral in the next year but I hope to push and try and clear my large mortgage during the next challenge.

helibob

I don't post on the boards very often at all, and sometimes don't look at them, but I do try to remember to come and update this every quarter and have found it really interesting and useful to see how far I've come, so I would be up for another challenge. I think 3 years is good, personally, but if you made it shorter I'd still sign up. Thanks for keeping up with this.

Lomcevak

I'd love to see -T5 as well, as I'll (hopefully!) become MF during that one

-T4 has been a huge motivation for me - staying (almost) on track has been a big stretch but not so hard that i've given up on it as unachievable. The end result is a huge chunk out of the mortgage (will be £75k at the end of the three years, and over £125k since I started making OPs half-way through -T3) and getting properly stuck in to OP's means that I've taken my MF-date from my mid-50s to my mid-40s.

And, personally, I'd prefer to keep it at three years - it is a good timeframe alongside the other 12-month challenge, long enough to make a real difference to the mortgage, but short enough that it doesn't feel like an endless slog.

Needhelpsaving

I would like a T5 thread too, it has allowed us to spread big goals and has kept us accountable.

But I also appreciate that it is hard work keeping the admin going and only a few people are updating every quarter.

Maybe_its_because

Hi, thanks Trix for the update.
It’s really appreciated that you work so hard on this.

I too would be up for T5 as this challenge coupled with the annual MFW is the biggest motivator for us.
I gave up my diary some while ago but see these threads as a way of staying in touch (and therefore accountable) without the burden of a personal diary

However it’s a heavy commitment from you and others who have previously run it so it might be a useful conversation to see how that could be better shared.

Thanks, MIB xx

2rea22

Just slightly under target for this quarter. Can't make any more OP on Mortgage account until October now so putting them into savings account ready to pay lump sum. Managed to survive redundancy threat but been downgraded with protected salary for 2 years. This challenge has help me survive the process with much less stress as I know we'll be mortgage free well before then and hopefully helped me set up some good financial habits that will serve me well for the future!! Thanks Trix x

bunty109

Sorry for the late update but I!!!8217;ve done it now!

mummytummy

#62 updating for chart 10, I could have done better but I'm on target, had some unexpected and expensive outgoings over the last 3 months :eek:

I'm also up for T5 it's kept me motivated and accountable and I agree with what others have said, 3 years is a good time frame.

Thank you trix-a-belle for running this challenge :T

Suffolk_lass

icklehelen wrote: »

Hi Trix

Thanks for chart 10. I know what you mean it doesn't feel like 2.5 years since we started this challenge!

I for one would be up for T5 - I find it so helpful but I see from the chart there are not many of us updating each quarter.

ickle

I agree with ickle - some registered and never posted but this time we have just 27 out of 150 so far (and we know there will be a little flurry now as people see the thread back up there). I personally find it really helpful and occasionally just look at the charts to reflect on the sacrifices some have made to complete their challenges early. :T

It is only since doing this and my associated spreadsheets that I have really understood what I pay for things and how much they cost. For me, it is both inspirational and it brings me to account for my lifestyle.

And thank you Trix, especially as circumstances change, well done for keeping it going