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The Mortgage Free in Three - Take 6 challenge (MFiT-T6)
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Hi Julicorn
Thanks for organizing. I've filled in the form and am aiming to offset £68,185.65 a combination of savings and chipping away at the original balance to try and get to £0 by the end of the challenge 😀Weight loss goal 6/7lbs for first quarter
Overall 2025 weight loss goal for the year 6/21lbs
Holiday savings target 3400/£48000 -
much appreciated 20 is notedjulicorn said:DON'T BUY STUFF (from Frugalwoods)
No seriously, just don’t buy things. 99% of our success with our savings rate is attributed to the fact that we don’t buy things... You can and should take advantage of discounts.... But at the end of the day, the only way to truly save money is to not buy stuff. Money doesn’t walk out of your wallet on its own accord.
https://forums.moneysavingexpert.com/discussion/6289577/future-proofing-my-life-deposit-saving-then-mfw-journey-in-under-13-years#latest0 -
Can I rejoin and keep number 70 please? My target is to reduce my mortgage from £79784 to £57k.
MFW 2025 No. 7 £1130/£1200
MFiT-T7 No. 6 £2873.51/£30,0001 -
A few updates and new joiners since I last checked in - welcome on board
@Anagran 39
@Bella_Budget 26
@pinknsparkly 99
@Poppycat 25
@ajmoney 703 -
Hello @julicorn, you are such a star.
hello everyone.This is a great challenge which is what I need for more more sustained push. It’s good to commit to something and see it in black and white.I have just filled out the form to sign into the challenge through signing into google.I would like bring my mortgage down by £100k over the next 3yrs fingers crossed 🤞.So current balance £412414 to go down to £312414 or less by end of January 2025.Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓1 -
Hi Julicorn, thanks for running this. I've filled in the form. My aim is to reduce the mortgage by £75k in the next 3 years.MortgageStart Nov 2012 £310,000
Oct 2022 £143,277.74
Reduction £166,722.26
OriginalEnd Sept 2034 / Current official end Apr 2032 (but I have a cunning plan...)
2022 MFW #78 £10200/£12000
MFiT-6 #28 £21,772 /£750001 -
Hi all, we've had a handful more sign ups over the last few weeks - welcome to the challenge everyone!
Here are your numbers for the next 3 years:
@Sistergold 27
@LadyGnome 28
@EG_MF_LO 30
Wishing you all the best!1 -
Thank you 😊julicorn said:Hi all, we've had a handful more sign ups over the last few weeks - welcome to the challenge everyone!
Here are your numbers for the next 3 years:
@Sistergold 27
@LadyGnome 28
@EG_MF_LO 30
Wishing you all the best!Initial mortgage bal £487.5k, current £258k, target £243,750(halfway!)
Mortgage start date first week of July 2019,
Mortgage term 23yrs(end of June 2042🙇🏽♀️),Target is to pay it off in 10years(by 2030🥳).MFW#10 (2022/23 mfw#34)(2021 mfw#47)(2020 mfw#136)
£12K in 2021 #54 (in 2020 #148)
MFiT-T6#27
To save £100K in 48months start 01/07/2020 Achieved 30/05/2023 👯♀️
Am a single mom of 4.Do not wait to buy a property, Buy a property and wait. 🤓1 -
I hope I am ok to have filled in the form.
I feel like I don’t quite belong here as I have popped over for a nose on MFW from DFW.Bizarrely I don’t quite have a mortgage yet. I am still paying the joint mortgage on my own since the husband left but I have had my sole application with another lender approved on 25/1/22 so it seems this challenge was just meant to be for me
I still have to wait for the title and deeds to be signed over to me so not sure how long that will take but I am still plodding away with the joint mortgage.
Total Debt May 21 £20,490.44 DEBT FREE DATE 29/7/22
Mortgage balance May 21 £177,096.19. Now £143,588.36
Mortgage free date. At start of sole mortgage = July 2042
2024 SAVINGS FOCUS - get rid of the car finance. £12,706.25 PAID OFF
2025 Savings Focus - 33.3/33.3/33.3 split; savings for house renovations (bathrooms/garden/kitchen; whichever collapses first), save for a family holiday (probably our last one!) and paydown/offset the mortgage. Total pot = £3275.882 -
I'd say you're in exactly the right place. It's all mortgage debt, so good luck with your journeyTiredbutdetermined said:I hope I am ok to have filled in the form.
I feel like I don’t quite belong here as I have popped over for a nose on MFW from DFW.Bizarrely I don’t quite have a mortgage yet. I am still paying the joint mortgage on my own since the husband left but I have had my sole application with another lender approved on 25/1/22 so it seems this challenge was just meant to be for me
I still have to wait for the title and deeds to be signed over to me so not sure how long that will take but I am still plodding away with the joint mortgage.
BBWeight loss goal 6/7lbs for first quarter
Overall 2025 weight loss goal for the year 6/21lbs
Holiday savings target 3400/£48001
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