2022 Mortgage-Free Wannabes

Deni_debt-free_dreamer

Morning
I would love to join this challenge please.  I'd like to aim for an OP target of £2500. I'm already overpaying by £87 so this is additional to that amount.  I became debt free last year so now i'd like to concentrate on my mortgage  
thanks
Deni x

anna42hmr

It's great to see so many joining the 2022 challenge, looking forward to resuming the overpayments on the mortgage good luck everyone, can't wait to see what progress we all make.   

I too had to take stock of things and pause my overpayment journey middle of last year.  Following the passing of my dad in March put a lot of things into perspective, including getting to grips with my fianances and getting my head out of the sand wit other debts etc (which i kind of paid little attention to as they were all consistently on 0%'s) so decided to work a debt snowball on those debts for a period of time (hence why did not manage to meet the target this year), but still glad with the amount that i did manage to overpay to the mortgage.

However, on a positive note I diverted the overpayment's previously making on the mortgage to pay down other debts (credit cards and a loan) as well as cutting back on costs, really sorting out my budget and random spending.  As a result this meant that as of 1 january 2022, my other (non mortgage) debt will be over £12K less than 1 January 2021!! The other non mortgage debt is now down to £2k.  so once that last £2k is done will be overpaying as much as possible to the mortgage again.  (hopefully by March ).  

My aim is to clear all of my none mortgage debt by my 40th birthday in April (at the lastest) then re-focus and throw as much as possible to the mortgage again alongside building a bigger emergency fund up to break the habit of falling onto 0% credit cards when things arise.

Good luck everyone and fingers crossed to us all that we manage to succeed in our challenges and targets for 2022

starnac

anna42hmr said:

However, on a positive note I diverted the overpayment's previously making on the mortgage to pay down other debts (credit cards and a loan) as well as cutting back on costs, really sorting out my budget and random spending.  As a result this meant that as of 1 january 2022, my other (non mortgage) debt will be over £12K less than 1 January 2021!! The other non mortgage debt is now down to £2k.  so once that last £2k is done will be overpaying as much as possible to the mortgage again.  (hopefully by March ).  

My aim is to clear all of my none mortgage debt by my 40th birthday in April (at the lastest) then re-focus and throw as much as possible to the mortgage again alongside building a bigger emergency fund up to break the habit of falling onto 0% credit cards when things arise.

Well done on clearing so much debt in a year. You'll definitely have it gone by your birthday, I have no doubt. (I am also 40 in April!  )

twinklie

No 6 - I've decided to try and push myself further and play the pay off 1% of your mortgage challenge. Soooo please can you change my target to £2,015.

It's very aspirational but with a fair wind and some good luck it may be possible. 

Dancingbecky

Hi can I join again? I was #75 with the same goal of £6000 for the year. Thanks Juliecorn 

julicorn

MrsC....tobe said:

Can I join again in 2022 please?
Currently #117 but happy to fill a gap if required.
Target for 2022 will be reduced to £3000 and even that may change as we’ve a lot of bigger expenses next year.
Thank you!

Welcome back! I've moved you up to #77

julicorn

angelicious said:

Could I join for 2022 please? 

My target will be £20,000, ambitious but doable, I hope 🤞 

Welcome on board! You've got #80  

Bored

Hi Julicorn. I would love to join again this year and keep my number of #123 if possible. 

My target this year is a conservative £2500 as I have a few other financial goals to juggle.

julicorn

Deni_debt-free_dreamer said:

Morning
I would love to join this challenge please.  I'd like to aim for an OP target of £2500. I'm already overpaying by £87 so this is additional to that amount.  I became debt free last year so now i'd like to concentrate on my mortgage  
thanks
Deni x

Welcome to the challenge! You've got #81.

anna42hmr

starnac said:

anna42hmr said:

However, on a positive note I diverted the overpayment's previously making on the mortgage to pay down other debts (credit cards and a loan) as well as cutting back on costs, really sorting out my budget and random spending.  As a result this meant that as of 1 january 2022, my other (non mortgage) debt will be over £12K less than 1 January 2021!! The other non mortgage debt is now down to £2k.  so once that last £2k is done will be overpaying as much as possible to the mortgage again.  (hopefully by March ).  

My aim is to clear all of my none mortgage debt by my 40th birthday in April (at the lastest) then re-focus and throw as much as possible to the mortgage again alongside building a bigger emergency fund up to break the habit of falling onto 0% credit cards when things arise.

Well done on clearing so much debt in a year. You'll definitely have it gone by your birthday, I have no doubt. (I am also 40 in April!  )

Thanks for the support fingers crossed it will work to plan!