Giblet's mortgage free journey

giblet1979

Hi everyone,
After lurking on here for a while, I have decided to bite the bullet and officially join in....
I was an enthusiastic DFW, and posted frequently in my diary last year which I found such a good motivator; unfortunately, life got in the way and I didn't keep it up. I did stick with overpaying debt however, and am pleased to have very recently become debt free for the first time in my adult life :T
If anyone would like a bit more info about me, it's here:

http://forums.moneysavingexpert.com/showthread.php?t=4944710&page=23

I am now a very excited MFW...I have been overpaying about £200 automatically since re-mortgaging from a 2yr 4.24% fix to a 5yr 2.89% fix (saving about £10 a day interest in the process).
DH and I are totally focussed on getting this mortgage gone early (and my 4 jobs are helping with this at present, lol).
We've managed to shave about 5mths off our 30yr term in OP's so far (not a bad start) and plan to try and reduce our 27 years remaining to about 10 :eek:

Is it possible.....lets try and see

(...secretly I'd like to pay it earlier, but must be sensible....)

Can't wait to learn even more hints and tips from you lovely people on here. Just made a £683 OP to round off the day in style (proceeds from 2 months of job 2 and a tilly tidy in the process - feeling brave!)

Must now resist rechecking mortgage balance and start to plan how to cut back further to maximise OP's.....

Gib xx

User1489

Looking forward to having you around Gib,

MvM

zcrat41

Hello & welcome! How on earth you'll have time to post on here with 4 jobs though!!! Good luck on your journey x

A_Frayed_Knot

:hello: Hello Giblet and welcome
Just had to pop on and say Hello

Wow, 4 jobs, I have 1 with o/t at the moment and can hardly keep up posting, but hopefully catch up soon. Must run and get ready, going into work earlier this morning. Speak to you later.

Tilly_MFW_in_6_YRS

Welcome to the madhouse 😉

Keep posting - it really helps.

Best wishes

Tilly

(4 jobs - I need a sleep just thinking about it 😚)

Kittenkirst

Welcome well done on becoming debt free too!

Looking forward to reading your diary and cheering you on

cat683

Hi and welcome,


Congratulations on becoming debt-free first of all!! I think that's fantastic already and good preparation for your mortgage free adventure
I wish you all the best and will hopefully have time to follow your story. 4 jobs is good work! I used to have 3 and made good money, but gave that up to get a "better" job, just full-time. Kinda wish I had never done that now. I barely make half the money I used to and the job is pretty s**t.
Go you!!!

giblet1979

Hi all,

Thank you so much MvM, zcrat, AFK, Tilly, kitten and cat for the welcome...really nice of you.

Also, thanks for the nice messages about being debt free. I am so pleased, as it isn't something that, at one point, I ever thought would be possible. I've not always been really 'awful' with money if that makes sense, but I have thoughtlessly spent beyond my means (for a long time, because my means were very small, and hindered by 11+ years of studying plus the need to support family who struggled significantly). Now things are better, and I'm lucky to be in the position to earn more (hence the 4 jobs).

Similar to you cat, in December I'll be cutting back to a full time job (replacing 3 of my current part time ones) although I'll continue with a couple of extra bits here and there which should only take a few hours a week, and a bit more when I've marking / teaching to do. I'm sorry to hear that yours went a bit s***. Is there any going back or is that it? I hope it improves for you

The temptation at the minute tho is to do far too much (when I originally cut back to a 30hr job it was partly due to poor health and the idea that I should rest - since then I've probably not done a week with less than 50hrs...oops).

Ah well - shouldn't complain as it's allowing me to make all these lovely overpayments.

So current plan is to incorporate the ex-debt repayment of £300 into the mortgage OP, plus an extra £200 to find. When I move jobs, I'll be cutting about 300 miles a week from my commute, so am likely to add petrol money savings to this

This makes new monthly mortgage payment by fixed standing order: £1200 (£571 plus overpayment) which should allow us to pay off the mortgage in 10 years (15 years early). According to my most recent statement which was waiting for me today, we've shaved 9 months off already.....happy!

Received a cheque through the post for work that I'd forgotten I'd done (and didn't really expect to be paid for if I'm honest) so another £100.50 gone to the mortgage tonight....yay! Also booked 3mths worth of bank shifts (on days which I am technically off from job 1) so that'll all be going straight to the mortgage when I get paid for it. DH is in agreement that this is a good plan, as we can just about live within our joint salaries and continue to try to replenish our house renovation / emergency fund as it gets used bit by bit (we still don't have a useable living room after 2yrs of living in our lovely house, but that is another story....)

Must head off as DH needs taking to Tesco - poor love has a chest infection so antibiotics and lots of TLC needed.

Hope to catch up on diaries later

Gib xx

newgirly

Hi giblet welcome well done on getting debt free and also holding down four jobs, I feel seriously lazy :rotfl:

If you are already a successful Dfw I bet there are not many tips we can give you

giblet1979

Thanks newgirly - I still have LOTS to learn from you guys (for example the unnecessary cream cake that just jumped into my trolley earlier on). I should make an OP for punishment, but will resist till tomorrow....
I remember that there was a 'payment a day' challenge a while back - tempted to try and make a mortgage OP per day until I go away, and then see if I can carry it on again when I'm back
Gib xx

Moneyfordreams

Welcome Giblet,:)

Well done on getting debt free