Quest for (mortgage) freedom

South_coast

I don't think you're the only one - in the first lockdown it seemed like everyone was going food shopping for recreation round here. Lots of excessive queues to get in the shops, with loud and extremely dull conversations between people queuing that were 20 yards apart and had several other shoppers in between 🙄

ruby_eskimo

Well done on so many NSD's - I'm also aiming for at least 15, but ideally 20 a month (and failing miserably so far!)  Hope the online delivery continues to work well for you as I can never seem to get everything I want / need with the supermarkets round here.  Plus the sunday morning trip to the supermarket is the only break I get away from DH all week at the moment 🤣

savingholmes

I miss the steps I got from shopping. Bank balance improved though

eat_that_frog

Made an OP today of £1500. This now puts me below the £225k mark on mortgage. Also realised I've nearly shaved a whole year off my outstanding mortgage term since starting this challenge July last year.

Still an awfully long way to go and it feels a bit draining just thinking about the size of my mortgage to be honest. A more negative part of my brain thinks 'what's the point'...but if I carry on going the way I am and have planned, I should be below the £220k mark by April this year and that will be a big boost psychologically. Also I don't have anything else to spend the money on so.. 

Still aiming to hit the under £200k mark by the end of this year. If I do get to £199,999 by end of December this year I will be absolutely delighted. Feels like it's out of my reach, in a way...don't mean to come across negative but it feels like an awfully long way to go still.

Not sure I've talked about it on this thread before but I've been mortgage free before - we had a smallish mortgage on our first home which we paid off in 7 years. I remember the sense of freedom I felt in not having a monthly mortgage payment tied around my neck like a wretched ball and chain. We moved up the ladder because we started a family and wanted a bigger house with a bigger garden in a rural setting. I'm so glad we did make the jump because I love this house, but at the same point I really miss the mortgage free days gone by. So I keep reminding myself of that nostalgia for being mortgage free and remembering what that felt like to live that life without feeling indebted to a bank, and that keeps me focussed on my vision of working towards mortgage freedom in this house too.

caeler

That's really amazing @eat_that_frog I think you are right to focus on the milestones rather than the end.  You will get there and you are making this journey bite sized.  It will be worth it in the end, like you experienced once before.  Shaving off a whole year is something to be super proud about!   I would have been mortgage free if I hadn't of moved to a larger house, but I totally made the right decision!!

savingholmes

Well done on the OP. £1500 is a lot. You are making great progress. If it helps you to have a stretch target great. Perhaps set a more achievable on as well,

eat_that_frog

End of Jan '21 summary: I managed 18 NSDs this month, so smashed my target of 15. I am absolutely delighted with this! I'm going to try and aim for a repeat of 18 again this month in February.
The month of January went by quickly, truth be told. Lockdown has this odd effect: the days feel long but the months feel like they go very quickly overall. I'm not enjoying work at the moment for various reasons so I think that's why the days feel longer.
Feeling happy with my financial achievements this month, overpaying mortgage by £1500 and 18 NSDs. 

My Feb '21 targets: overpay mortgage by £1500 and 18 NSDs.

caeler

Great targets! And congratulations on 18 NSDs! @eat_that_frog

eat_that_frog

Well I'm at 13 NSDs so far this month so unfortunately I'm not going to quite reach my target of 18 NSDs this month. But if I can get to 15 or 16 over the weekend I will be that little bit closer!

It has been an unexpectedly expensive month. Part of our roof needs fixing, rather than dipping into the EF we're going to spend what we would have put towards the mortgage OP. We also spent some money on some improvements around the house and garden that really needed doing and we just decided to get on with it whilst we have time in lockdown. So it's looking likely I won't make any overpayment at all this month which is a shame. However I get my bonus next month so hoping to make up some of the shortfall in March.

eat_that_frog

Well I managed to get to 16 NSDs (including today) in February. Not quite the 18 I was aiming for but happy nonetheless. If it had been a longer month I'd have probably met the target.

It's been an expensive month for things around the house but hoping it'll calm down a bit in March. I think for March I'll keep the target the same again, 18 NSDs. Hopefully I'll be able to get my mortgage OPs on track again too.