The Mortgage Free in Three - Take 5 challenge (MFiT-T5)

DiscountDuck

Guidance from more experienced MFiT-ers please? First time I’ve done this challenge and I’m very excited about it, I feel empowered to take control of my finances by this and the small dfw things thread. But I can only find the chart for April - am I jumping the gun and looking for something that doesn’t exist yet, or just looking in the wrong place for it please?

Radish72

Current chart not available yet

If Trix is anything like me this week with the heat, I have done nothing all week as its been to hot and I'm now spending the weekend catching up with housework & sleep

But I'm also waiting for the chart with excitement, as I'm so close to the finish line :j

Suffolk_lass

She's a bit busy at the moment - we corresponded recently

twinklie

#13 expecting to be yellow again. Which given I’ve had to buy a new car as mine has gone to the big scrap heap in the sky, I’m pretty happy with.

trix-a-belle

Thanks both, yes been avoiding the heat and anything that will create unnecessary additional heat, have also had relatives invade so been doing my duty to socialise.

to avoid any further delay, here it is, Chart 2

This time round its Radish72 streaking ahead with 80.14% :eek: :j

Cheery_Daff

Hello lovely people, can I join you please? I know we're already half way through the first year I do have figures from the beginning though :j I know you've just done the chart for this update so obviously it's fine not to include me til the next one.

Off to fill in my form when I've wielded the calculator

trix-a-belle

Cheery_Daff wrote: »

Hello lovely people, can I join you please? I know we're already half way through the first year I do have figures from the beginning though :j I know you've just done the chart for this update so obviously it's fine not to include me til the next one.

Off to fill in my form when I've wielded the calculator

You are very welcome Cheery Daff, its a marathon not a sprint so still plenty of distance to cover for us all

Cheery_Daff

Right, joining form filled in :j [and I've just seen you've posted trix-a-belle, thank you! :j ]

Balance at the start of 2019 (I've just realised the challenge starts on 25th Jan, but I only have a balance from 1st Jan so using that): £208,133.85 :eek:

Target balance by Jan 2022: £180,000

Current balance (ish): £203,657 :money:

I'll be making an overpayment of £1200 at the end of July, and re-fixing for 5 years at a slightly higher rate, and then I'll need to average £200 a month overpayments to meet the target (on top of monthly payments which will be £924 at the new rate :eek: )

Should be doable :j A bit of a stretch while also leaving us some wiggle room for building work/in case the car dies :eek: :rotfl:

Looking forward to following all your updates! :j

pinknsparkly

Thanks so much for running this challenge Trix.



I've just updated via the form and managed to completely bodge my first submission by reporting £7k-ish, which is my total overpayments for the year, rather than my current balance of just under £210k. I made a comment on my second submission to say my first one was garbage, but thought I'd reiterate it on here in the hope that you'd see it!

DiscountDuck

Wow thanks Trixabelle this is so great of you.