Let's get rid of this mortgage!

ktinbrum

Hello all,

I’m Kt & I’m very excited to have found this forum- I feel I've found my people!

After reading for a few weeks, I thought I’d share my journey so far and my goals to become MF as soon as I can! (I’m shooting for my 40th birthday- it will be tight!)

Quick summary: I’m 29 years old and live in Brum with my OH and 2 Siberian huskies. (Fun fact, what motivated me to get my own place so young is because I was so desperate to have dogs of my own!)

I spent the majority of my early working life hustling and saving in one way or another for a deposit- and gladly, I had saved up a decent deposit. However, I was still completely locked out of the housing market in the SE (Hampshire) where I grew up- especially as a single buyer on a very average income- so I decided to move to a lower cost of living area, which is how I ended up in Brum! (I also met my OH there who is a local lad �� )

I bought my humble home at the end of 2016 for £142,000. Dropped more money on renovations such as a rewire, new windows (the list goes on) but have still managed to contribute OPs since approx 2018.

I reached my BIG goal at the end of last year to get my mortgage under £100k (from £112,000) and I hit my target (just about… ) on New Year’s Day, to stand at £99,980.00 which was such a crazy feeling! :j

I don’t want to waffle too much longer- but this year’s goals are:

• OP £200 p/m from pay
• Side hustle £50 p/m (or more!)
• Try out 'Tilly Tidies' & other little saving tips as I go...

Looking forward to sharing my journey with you & continuing to read other’s to keep me inspired and motivated ��

Kt x

South_coast

Hi Kt, welcome and well done on making such a great start - a £40k reduction in 3 years is brilliant :beer:

I completely agree about finding like-minded people on here, I daren't mention much about my MF plans in real life as people just say you're boring and missing out (although I'd much rather be missing out on paying £1000's in interest to the bank, but different strokes and all that....)

Good luck

ktinbrum

Thanks South Coast! I know what you mean it isnt a 'normal' topic of conversation which is a bit of a shame as I would've loved to know about this sort of stuff years ago- and also to have started to document my journey earlier on, but hey ho!

I try to hustle/save £50 before I make an overpayment. At the time of writing, my current OP account sits at £42 (after a quick Tilly tidy).

Really hoping I can get this to a £50 OP this coming week but as it is my last week before payday, its gunna be tough.

Hope you've all had a nice weekend and good luck with your OPs in the coming week x :j

LeighofMar

Welcome. I definitely agree that I prefer to be "abnormal" when I have a paid off house and can continue my life and work balance on my terms instead of constantly upgrading and always being in debt for more and more. Congrats on hitting your target for the new year. Those targets really keep us motivated, don't they? Will read your diary with interest.

ktinbrum

Hi LeighofMar- you've hit the nail on the head! For me its all about being able to live my life on my terms as much as possible... I'm not going to be able to miraculously be able to stop working when I pay off my mortgage, but I can certainly be more choosy about how many hours I work & the type of work that I do... hoping to do something a bit more rewarding than what I currently do.

I hope you've had a good weekend x

shangaijimmy

Welcome aboard! Like minded people with enthusiasm for your progress and achievements, even those daily TT's that you'll get addicted to. This forum has literally changed how our family lives and is preparing for the future.

longway2go

Hey.

Welcome and good luck. You sound like you are doing really well. I can't wait to get mine under 100k, I think mentally that a really big achievement and makes the possibility of mortgage freedom seem more real.

ktinbrum

Hi Shangaijimmy! Thank you for the warm welcome. 100% this is very addictive & motivating, so I'm hoping to smash my goals this year with help from all of you lovely lot

Love that it has changed your family's future for the better- what an amazing feeling that must be! Part of my 'why' is I would love to start a family in the coming years... the more I can OP the more secure my 'nest' is for my future babies (& current fur babies ofc!)

Have a great week! x

ktinbrum

Hi longway2go,

Thank you for the warm welcome I feel that I am finally getting some traction, getting sub 100k is a great feeling. 5 figures look so much more realistic than 6 thats for sure!

Looks like you're already putting a big dent in your mortgage- you'll be catching me up in no time

Have a great week! x

ktinbrum

So a cheeky OP this morning of £50. I save up £50 before I send it over… I just like to keep it to a round number I think! The total had been lingering on £42 for some time but after some Tilly tidies & reassessing what money I’d need before pay day on Friday, I was able to find the £8 but also assign £5 to my Xmas fund.

This takes my totals to: (Hope I’m doing this bit right!)

Total at NY – Just under £100k (my big target for 2019….)

OPs since year start (inc. today’s) £100

Total as of today (minus Jan payment & interest) £99,595.97

Despite my best efforts in making Xmas a sinking fund, it always seems to catch me out- I think it’s having a lot of family birthdays in Nov/Dec/Jan so any extra money I can send throughout the year will help.

I’ve listed some furniture on selling sites over the weekend too so hoping I will get a nice boost this week from them. I was on a mad declutter last year and it dawned on me I have shelving units sat with barely anything in… taking up space & collecting dust- so time for those to go.

That’s it for now… besides 17p made on Prolific on the bus this morning-cheeky!


Have a good day all x

BVic28

Well done on reaching your first eager! It must be so nice seeing a 5 digit total versus a 6 digit one