Domravioli's MFW Diary...75k to zero!

Hi all :)

We have literally just got a mortgage (December 2015), for 75k, but already I'm starting on our MFW challenge.

We're aiming to pay it off in 10 years instead of the 25 years on the mortgage. I'd like to think we can do this in 3k chunks, but as I'm self employed on a variable income this might not be too doable, so I'm aiming to save as much as we can the first three years (we can only make one overpayment a year during this time), and hit it where it hurts once a year.

Current total: 75000.00
Current O/P: 0

Replies

  • Well its been two weeks - I've got OT at work, and managed to save a little.

    House renovation is crazy (half a bathroom!).

    Current total £75k
    Current O/P in savings: 301.43

    Finding it difficult to budget everything with it being very new! We have had a water meter installed as we're two people in a three bed and we shower at the gym and don't have much washing, so it made sense.

    Will hopefully have more to save in the next couple of weeks, I'm holding on until payday (6th february) to try and live on what I have.
  • LuckyinlifeLuckyinlife Forumite
    1.6K Posts
    Forumite
    great job you have a balance similar to mine :]

    i think the first few months are hard just settle in get what you need and then work out where and what you can save :]
    Mortgage--- [STRIKE]£67700 March 15[/STRIKE] [STRIKE]£65221 April 15[/STRIKE] [STRIKE]£64983 July 15[/STRIKE] [STRIKE]£64780 sept 15[/STRIKE] Remortgage [STRIKE]£67295 oct 15[/STRIKE] [STRIKE]£66599 Nov 15[/STRIKE] [STRIKE]£65878.73 Dec 15[/STRIKE][STRIKE] £64834 1st Jan 16[/STRIKE] [STRIKE]Feb 16 £64,511.89[/STRIKE][STRIKE] March 16 £64,056.40[/STRIKE] [STRIKE]April 16 £62550[/STRIKE] [STRIKE]May 16 £62,396.20[/STRIKE] Feb 17 £60.800
    Emergency fund 23k
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