Melbourne Mortgage

Hi all
I've been on and off MSE since 2006. In that time I have moved to Australia, completed a degree, and got a job in a field that I love.
We purchased a house 5 years ago in a lovely part of Melbourne, Aus that needed quite a bit of work on it, and we are now half way through that.
One OH, two DDs and one dog in the house with my eldest DD just finished school and looking for work. I'm 41, mortgage is current $560,000 approx with 27 years to go - that is not happening!

I already OP by $1200 a month. I joined the MFin3 thread and just worked out I need to throw an extra $15,000 a year to get to $440,000 in three years.
In Jan, I had an unexpected tax bill, school fees and some spending money for a holiday. I cut down on eating out, drinking, buying a coffee each day and took my lunch to work which saved a lot!

This month I plan to continue to take lunch to work, but also be a bit more organised with food in general. I do have a large bill to pay as DD2 is having braces fitted, plus the car registration is due $800.

Plan on trying to do OT, sell a few bits and just try to be more frugal.
Formally liuhut
WIN £2008 in 2008 £1836.31 2009 wins - £91!!! 2010 6170.... wins 2011 aprox 2000

Replies

  • CouldsavemoreCouldsavemore Forumite
    393 Posts
    Third Anniversary 100 Posts Name Dropper
    ✭✭
    Helloooo...
    Am so jealous... its freezing cold here with the added joy of snow.
    I've found doing the monthly grocery challenge and looking at frugal threads helps me keep a better track of my money.
    Good luck!
    PAYDXMAS21 #41 900/900
    Fashion on a ration... 0/66
    Target weigh loss 2/14lbs
    Money saved on food budget by being frugal in 2021... 100

  • LeighofMarLeighofMar Forumite
    459 Posts
    100 Posts Second Anniversary Name Dropper
    ✭✭
    Welcome. Those are some hefty OPs. Thats great. Best wishes on your mortgage free goals.
    Mortgage start date Dec 2015 - $64,655.00
    Mortgage end date Dec 2045 - NOT!!!!
    Mortgage balance end of July 2021 - $28,550.00
    Hope to be mortgage-free by 2023 
  • beanieloubeanielou Forumite
    78.5K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    ✭✭✭✭✭✭
    Great start :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
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