Last one standing

Well, it has been an odd year, 2020, and three months with zero income didn't help, but this Saturday, 19th Dec, I got the letter from Hitachi Capital confirming that the last finance agreement we had is cleared :)
That leaves the credit card paid in full every month (which I don't really consider to be credit but more convenience) plus the mortgage so, for the first time I can be a MFW!  
I guess the big trick is to not get drawn into any more finance deals at the shops - there are clearly some "wants" that must be tempered (new sofa, dining table) and a potential "need" (the car is getting ever more expensive in repair bills, still it got through the MOT in September so at least 9 months hopefully).


  • caeler
    caeler Posts: 2,605 Forumite
    Mortgage-free Glee! Photogenic Name Dropper First Post
    This is the place to be if you want to clear your mortgage! Lots of inspirational diaries to learn from.  I've recently put my "want" spending on hold but I'm creating a "post mortgage bucket list" of all those things I didn't do so I can treat myself later.  Good luck with your journey.  
  • Grumpy_chap
    Grumpy_chap Posts: 15,047 Forumite
    First Anniversary First Post Name Dropper Combo Breaker
    So, I think a good start is to get the balances together.  At 1st January 2021:
    • Mortgage Account 1 = £3,468
    • Mortgage Account 2 = £40,041
    • Mortgage Account 3 = £36,574
    • Total Mortgage = £80,084
    • Saving = £46,362
    • Nett Mortgage = £33,722

    I think I should track this every six months maybe and aim for mortgage-neutral in 2 years.  That is 6 years after my aspirational target when I took out the mortgage and 1 year after the planned target when I took out the mortgage.
  • beanielou
    beanielou Posts: 90,699 Ambassador
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Looks good to me!
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 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.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
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